Southwest Minnesota Housing Partnership
- Assets
- $59.3m
- Revenue
- $10.7m
- Investments
- $0.0
- Employees
- 32
- Location
- Slayton, MN
- Founding
- 03/1993
- Data as of
- 12/2021
- EIN
- 41-1721815
Organization Overview
Southwest Minnesota Housing Partnership is located in Slayton, MN. The organization was established in 1993. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, Southwest Minnesota Housing Partnership employed 32 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Southwest Minnesota Housing Partnership 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 12/2021, Southwest Minnesota Housing Partnership generated $10.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $12.2m during the year ending 12/2021. While expenses have increased by 7.4% per year over the past 7 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
PARTNERING WITH COMMUNITIES TO DEVELOP PLACES TO CALL HOME.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MULTI-FAMILY DEVELOPMENT AND ASSET MANAGEMENT - SWMHP IS AN EXPERIENCED DEVELOPER AND MANAGER OF MULTIFAMILY PROPERTIES. SWMHP HAS DEVELOPED OVER 10,000 QUALITY, AFFORDABLE HOUSING UNITS (COMBINED WITH SINGLE FAMILY) AND OVERSEES 1,837 RENTAL UNITS IN 56 PROPERTIES LOCATED IN 31 COMMUNITIES. ASSET MANAGEMENT SERVICES ALSO COVER CAPITAL NEEDS ANALYSIS, REFINANCING FOR EXTENDED AFFORDABILITY OR RETENTION OF RENTAL SUBSIDIES, AND OTHER FINANCING REVIEW FOR PROPERTIES AND PORTFOLIOS.
HOUSING AND COMMERCIAL REHAB - SWMHP BRINGS CONSTRUCTION MANAGEMENT EXPERTISE TO OVERSEE REHAB AND REDEVELOPMENT PROJECTS BOTH RESIDENTIAL AND COMMERCIAL IN NATURE, INCLUDING EFFORTS FOCUSED ON SUCH GOALS AS: REMOVING HEALTH AND SAFETY HAZARDS, MEETING ACCESSIBILITY REQUIREMENTS, INCREASING ENERGY EFFICIENCY, AND INCREASING MARKETABILITY IN ORDER TO ENSURE QUALITY LIVING FOR THOSE WE WORK WITH. THE PARTNERSHIP WRITES FUNDING REQUESTS AND ADMINISTERS SEVERAL HOUSING REHABILITATION PROGRAMS IN THE REGION; INCLUDING SMALL CITIES DEVELOPMENT PROGRAM (SCDP), RENTAL REHABILITATION DEFERRED LOAN (RRDL), HOME FUNDS, FEDERAL HOME LOAN BANK (FHLB), FIXUP FUNDS, AND OTHER RESOURCES.
DEVELOPMENT - ASSISTED LOCAL UNITS OF GOVERNMENT AND NON-PROFIT DEVELOPERS TO IDENTIFY AND IMPACT HOUSING NEEDS. FUNDED FROM DEVELOPER FEES, FOUNDATION GRANTS AND THE MINNESOTA HOUSING FINANCE AGENCY. SERVED 280 UNITS AND 700 INDIVIDUALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chad Adams Chief Executive Officer | Officer | 40 | $147,793 |
Kristie Blankenship Chief Operating Officer | 40 | $108,174 | |
Margo Druschel Secretary-Treasurer | OfficerTrustee | 1 | $500 |
April Chouinard Director | Trustee | 1 | $225 |
Tara Onken Director | Trustee | 1 | $150 |
Larry Anderson Director | Trustee | 1 | $50 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Apx Construction Group Llc Construction | 12/30/21 | $317,880 |
Kue Contractors Inc Multi-family Construction | 12/30/21 | $132,416 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,195,427 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,750 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,197,177 |
| Total Program Service Revenue | $9,052,342 |
| Investment income | $348,273 |
| 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 | $10,657,099 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $120,353 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $175,056 |
| Compensation of current officers, directors, key employees. | $175,056 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,500,429 |
| Pension plan accruals and contributions | $77,812 |
| Other employee benefits | $140,270 |
| Payroll taxes | $119,001 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,697 |
| Fees for services: Accounting | $35,690 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $32,800 |
| Advertising and promotion | $2,006 |
| Office expenses | $58,711 |
| Information technology | $21,909 |
| Royalties | $0 |
| Occupancy | $28,604 |
| Travel | $23,050 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $22,602 |
| Interest | $81,233 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $52,365 |
| Insurance | $21,686 |
| All other expenses | $0 |
| Total functional expenses | $12,186,016 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,368,110 |
| Savings and temporary cash investments | $7,037,900 |
| Pledges and grants receivable | $58,004 |
| Accounts receivable, net | $1,298,575 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $6,332,515 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $138,649 |
| Net Land, buildings, and equipment | $36,394,364 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $1,662,383 |
| Intangible assets | $19,588 |
| Other assets | $0 |
| Total assets | $59,310,088 |
| Accounts payable and accrued expenses | $2,589,672 |
| Grants payable | $0 |
| Deferred revenue | $843,423 |
| Tax-exempt bond liabilities | $4,181,320 |
| Escrow or custodial account liability | $7,576 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $44,013,583 |
| Unsecured mortgages and notes payable | $70,000 |
| Other liabilities | $509,668 |
| Total liabilities | $52,215,242 |
| Net assets without donor restrictions | $5,437,017 |
| Net assets with donor restrictions | $1,657,829 |
| 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 | $59,310,088 |
Grants Awarded
Over the last fiscal year, Southwest Minnesota Housing Partnership has awarded $0 in support to 6 organizations.
| Grant Recipient | Amount |
|---|
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Southwest Minnesota Housing Partnership has recieved totaling $96,185.
| Awarding Organization | Amount |
|---|---|
The Housing Partnership Network Inc Boston, MA PURPOSE: HOUSING STABILIZATION (FORECLOSURE & EVICTION) | $32,897 |
The Housing Partnership Network Inc Boston, MA PURPOSE: HOUSING COUNSELING PROGRAM & ADMINISTRATION | $27,426 |
Local Initiatives Support Corporation New York, NY PURPOSE: SEE PART IV | $15,000 |
The Housing Partnership Network Inc Boston, MA PURPOSE: HOUSING STABILIZATION (RENTER STABILIZATION/EVICTION PREVENTION & HOMEOWNER ASSISTANCE/FORECLOSURE PREVENTION) | $13,362 |
United Way Of Nobles County Worthington, MN PURPOSE: GENERAL SUPPORT | $7,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Wisconsin Housing Preservation Corp Madison, WI | $363,112,557 | $53,775,337 |
Commonbond Communities St Paul, MN | $162,416,723 | $28,132,790 |
Ho-Chunk Housing And Community Development Agency Tomah, WI | $18,849,800 | $12,706,218 |
Southwest Minnesota Housing Partnership Slayton, MN | $59,310,088 | $10,657,099 |
Reach For Your Potential Inc Iowa City, IA | $7,743,905 | $10,140,331 |
Ppl Properties Minneapolis, MN | $55,862,410 | $5,681,463 |
Region Xii Council Of Governments Inc Carroll, IA | $20,470,902 | $9,309,351 |
Grand Forks Homes Inc Grand Forks, ND | $15,508,002 | $4,473,354 |
Community Action Region Vi Jamestown, ND | $1,501,649 | $3,945,545 |
Ponderosa Apartments Inc Spearfish, SD | $17,012,312 | $3,089,734 |
Beyond Shelter Inc Fargo, ND | $39,993,501 | $6,508,362 |
3700 Green Tree Corporation Milwaukee, WI | $10,160,568 | $2,809,473 |