Neighborworks Home Partners
- Assets
- $22.3m
- Revenue
- $11.8m
- Investments
- $0.0
- Employees
- 21
- Location
- Saint Paul, MN
- Founding
- 06/1983
- Data as of
- 09/2021
- EIN
- 41-1386089
Organization Overview
Neighborworks Home Partners is located in Saint Paul, MN. The organization was established in 1983. According to its NTEE Classification (L25) the organization is classified as: Housing Rehabilitation, under the broad grouping of Housing & Shelter and related organizations. As of 09/2021, Neighborworks Home Partners employed 21 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Neighborworks Home Partners is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2021, Neighborworks Home Partners generated $11.8m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 19.3% each year . All expenses for the organization totaled $7.2m during the year ending 09/2021. While expenses have increased by 21.7% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDING FORECLOSURE PREVENTION, HOME IMPROVEMENT LOANS, AND NEW HOMEOWNER EDUCATION, IN THE SEVEN-COUNTY SAINT PAUL / MINNEAPOLIS METRO AREA WITH SPECIAL PROGRAM EMPHASIS IN THE CITY OF SAINT PAUL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
REVOLVING LOAN PROGRAM PROVIDING HOME IMPROVEMENT AND DOWN PAYMENT ASSISTANCELOW-TO-LOW-TO-MODERATE-TO-MIDDLE INCOME HOUSEHOLDS (AS DEFINED BY HUD) WHO WOULD NOT LIKELY QUALIFY FOR THESE FUNDS FROM A TRADITIONAL LENDING INSTITUTION. IN FISCAL YEAR 2021, 80 HOMEREPAIR LOANS AND 397 DOWN PAYMENT LOANS WERE PROVIDED. THROUGH THIS WORK, 450 HOMEOWNERS WERE CREATED AND HOUSING WAS PRESERVED FOR 130 HOMEOWNERS.
HUD APPROVED COUNSELING AND EDUCATION WERE PROVIDED TO HOUSEHOLDS TO HELP THEM BUY AND KEEP THEIR HOMES. IN FISCAL YEAR 2021, 884 FAMILIES RECEIVED THESE SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jason Peterson Executive Director | OfficerTrustee | 36 | $137,366 |
Kjirsten Johnson CFO | Officer | 39 | $99,285 |
Krissi Hoffman Vice President | OfficerTrustee | 1 | $0 |
Michael Morrell President | OfficerTrustee | 1 | $0 |
David Zastrow Secretary | OfficerTrustee | 1 | $0 |
Katelyn Shehu Treasurer | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Wood Crest Builders Construction | 9/29/21 | $175,145 |
Lbc Remodelling & Management Llc Construction | 9/29/21 | $292,299 |
Michael Strafelda Dba Collective Carpent Construction | 9/29/21 | $122,941 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,391,683 |
| All other contributions, gifts, grants, and similar amounts not included above | $8,049,298 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,440,981 |
| Total Program Service Revenue | $381,355 |
| Investment income | $18,196 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,840,532 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $5,406,466 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $289,128 |
| Compensation of current officers, directors, key employees. | $144,564 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $909,181 |
| Pension plan accruals and contributions | $22,021 |
| Other employee benefits | $93,876 |
| Payroll taxes | $92,134 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,810 |
| Fees for services: Accounting | $26,273 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $113,814 |
| Advertising and promotion | $42,628 |
| Office expenses | $25,769 |
| Information technology | $37,133 |
| Royalties | $0 |
| Occupancy | $37,917 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $55,410 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $18,934 |
| Insurance | $13,999 |
| All other expenses | $0 |
| Total functional expenses | $7,249,640 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $432,638 |
| Savings and temporary cash investments | $11,498,271 |
| Pledges and grants receivable | $198,977 |
| Accounts receivable, net | $212,049 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $39,130 |
| Net Land, buildings, and equipment | $31,844 |
| Investments—publicly traded securities | $778,942 |
| Investments—other securities | $0 |
| Investments—program-related | $9,135,528 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $22,327,379 |
| Accounts payable and accrued expenses | $344,366 |
| Grants payable | $0 |
| Deferred revenue | $400 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $2,409,894 |
| Other liabilities | $513,845 |
| Total liabilities | $3,268,505 |
| Net assets without donor restrictions | $7,851,210 |
| Net assets with donor restrictions | $11,207,664 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $22,327,379 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Neighborworks Home Partners has recieved totaling $339,700.
| Awarding Organization | Amount |
|---|---|
Minnesota Council On Foundations Minneapolis, MN PURPOSE: Integrated Capital Recovery Project | $166,000 |
Local Initiatives Support Corporation New York, NY PURPOSE: SEE PART IV | $70,000 |
Otto Bremer Trust St Paul, MN PURPOSE: GENERAL OPERATIONS | $65,000 |
Greater Green Bay Community Foundation Inc Green Bay, WI PURPOSE: HUMAN SERVICES PROGRAM SUPPORT | $22,000 |
Saint Paul & Minnesota Foundation Saint Paul, MN PURPOSE: MULTIPLE GRANTS FOR MULTIPLE PURPOSES | $16,700 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Center For Veterans Issues Inc Milwaukee, WI | $5,642,001 | $8,532,002 |
Neighborworks Home Partners Saint Paul, MN | $22,327,379 | $11,840,532 |
Little Earth Of United Tribes Housing Corporation Minneapolis, MN | $16,435,271 | $3,915,477 |
Invest Dsm Des Moines, IA | $13,108,701 | $110,576 |
Daytons Bluff Neighborhood Housing Services Inc Saint Paul, MN | $22,257,418 | $1,487,305 |
Neighborhood Development Corp Des Moines, IA | $6,803,177 | $2,495,754 |
Rebuilding Together - Twin Cities Minneapolis, MN | $1,295,176 | $2,009,168 |
Habitat For Humanity International Inc Willmar, MN | $2,974,753 | $963,982 |
Wisconsin Preservation Fund Inc Milwaukee, WI | $12,189,934 | $1,036,720 |
Legacy Redevelopment Corporation Milwaukee, WI | $10,634,504 | $972,706 |
Brainerd South Housing Group Inc Brainerd, MN | $1,742,660 | $335,729 |
Dallas County Local Housing Trust Fund Inc West Des Moines, IA | $26,861 | $209,515 |