Minnesota Home Ownership Center
- Assets
- $17.5m
- Revenue
- $3.1m
- Investments
- $0.0
- Employees
- 15
- Location
- St Paul, MN
- Founding
- 06/1993
- Data as of
- 12/2021
- EIN
- 41-1741817
Organization Overview
Minnesota Home Ownership Center is located in St Paul, MN. The organization was established in 1993. According to its NTEE Classification (L80) the organization is classified as: Housing Support, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, Minnesota Home Ownership Center employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Minnesota Home Ownership Center 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, Minnesota Home Ownership Center generated $3.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $4.1m during the year ending 12/2021. While expenses have increased by 9.2% 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
HOME OWNERSHIP EDUCATION AND COUNSELING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MINNESOTA HOME OWNERSHIP CENTER, A NOT-FOR-PROFIT ORGANIZATION, BELIEVES THAT EQUITABLEACCESS TO HOMEOWNERSHIP IS ESSENTIAL TO STRONG COMMUNITIES AND CREATES OPPORTUNITIES FOR GENERATIONS TO COME. OUR MISSION IS TO PROMOTE AND ADVANCE SUCCESSFUL, SUSTAINED HOMEOWNERSHIP, WITH A FOCUS ON THE NEEDS OF LOW AND MODERATE-INCOME FAMILIES AND COMMUNITIES OF COLOR. THE CENTER PROVIDES A NETWORK OF COMMUNITY-BASED ORGANIZATIONS WITH THE TOOLS AND RESOURCES TO DELIVERY HOMEBUYER EDUCATION AND ADVISING, FINANCIAL COACHING, DELINQUENCY AND FORECLOSURE PREVENTION COUNSELING, AND OTHER SUPPORT TO HELP FAMILIES ACHIEVE AND SUSTAIN HOMEOWNERSHIP. IN ADDITION, THE CENTER DIRECTS A RANGE OF INITIATIVES AND ACTIVITIES WITH LENDERS, REALTORS, GOVERNMENT, NONPROFITS, AND OTHER INDUSTRY STAKEHOLDERS THAT ADVANCE HOMEOWNERSHIP AMONG THOSE FACING THE GREATEST BARRIERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gugin Julie President | Officer | 40 | $173,921 |
Bipes Timm Robyn Chair | OfficerTrustee | 0.5 | $0 |
Crosby Brian Secretary | OfficerTrustee | 0.5 | $0 |
Lindstrom David Treasurer | OfficerTrustee | 0.5 | $0 |
Teng Rose Vice Chair | OfficerTrustee | 0.5 | $0 |
Wiese David Vice Chair | OfficerTrustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Tunheim Partners Inc Consulting | 12/30/20 | $224,650 |
Cliftonlarsonallen Accounting And Consulting | 12/30/20 | $115,056 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,343,654 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,461,283 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,804,937 |
| Total Program Service Revenue | -$1,471,076 |
| Investment income | $214,534 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $496,986 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$39 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,064,242 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $5,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $189,185 |
| Compensation of current officers, directors, key employees. | $111,619 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $698,537 |
| Pension plan accruals and contributions | $46,025 |
| Other employee benefits | $42,052 |
| Payroll taxes | $64,464 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $30,066 |
| Fees for services: Accounting | $98,371 |
| Fees for services: Lobbying | $37,800 |
| Fees for services: Fundraising | $23,796 |
| Fees for services: Investment Management | $64,456 |
| Fees for services: Other | $475,295 |
| Advertising and promotion | $0 |
| Office expenses | $93,051 |
| Information technology | $7,012 |
| Royalties | $0 |
| Occupancy | $1,500 |
| Travel | $7,492 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $60,093 |
| Insurance | $8,587 |
| All other expenses | $4,914 |
| Total functional expenses | $4,099,660 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,485,918 |
| Savings and temporary cash investments | $1,133,942 |
| Pledges and grants receivable | $667,866 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $3,004 |
| Prepaid expenses and deferred charges | $42,752 |
| Net Land, buildings, and equipment | $173,457 |
| Investments—publicly traded securities | $10,228,048 |
| Investments—other securities | $0 |
| Investments—program-related | $2,814,888 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $17,549,875 |
| Accounts payable and accrued expenses | $805,003 |
| Grants payable | $0 |
| Deferred revenue | $1,212,972 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $19,752 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,037,727 |
| Net assets without donor restrictions | $14,901,315 |
| Net assets with donor restrictions | $610,833 |
| 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 | $17,549,875 |
Grants Recieved
Over the last fiscal year, we have identified 8 grants that Minnesota Home Ownership Center has recieved totaling $1,845,000.
| Awarding Organization | Amount |
|---|---|
Mcknight Foundation Minneapolis, MN PURPOSE: FOR GENERAL OPERATING SUPPORT, AND TO ADVANCE EQUITABLE ACCESS TO HOMEOWNERSHIP FOR HOMEBUYERS AND HOMEOWNERS OF COLOR AND IMMEDIATE COVID RESPONSE PLAN FOR LOWER-INCOME HOUSEHOLDS STRUGGLING AND FACING POSSIBLE FORECLOSURE IN THE WAKE OF THE PANDEMIC | $625,000 |
Mcknight Foundation Minneapolis, MN PURPOSE: FOR GENERAL OPERATING SUPPORT, AND TO ADVANCE EQUITABLE ACCESS TO HOMEOWNERSHIP FOR HOMEBUYERS AND HOMEOWNERS OF COLOR AND IMMEDIATE COVID RESPONSE PLAN FOR LOWER-INCOME HOUSEHOLDS STRUGGLING AND FACING POSSIBLE FORECLOSURE IN THE WAKE OF THE PANDEMIC | $625,000 |
Family Housing Fund Minneapolis, MN PURPOSE: HECAT | $175,000 |
Mcknight Foundation Minneapolis, MN PURPOSE: FOR GENERAL OPERATING SUPPORT, AND TO ADVANCE EQUITABLE ACCESS TO HOMEOWNERSHIP FOR HOMEBUYERS AND HOMEOWNERS OF COLOR AND IMMEDIATE COVID RESPONSE PLAN FOR LOWER-INCOME HOUSEHOLDS STRUGGLING AND FACING POSSIBLE FORECLOSURE IN THE WAKE OF THE PANDEMIC | $125,000 |
Mcknight Foundation Minneapolis, MN PURPOSE: FOR GENERAL OPERATING SUPPORT, AND TO ADVANCE EQUITABLE ACCESS TO HOMEOWNERSHIP FOR HOMEBUYERS AND HOMEOWNERS OF COLOR AND IMMEDIATE COVID RESPONSE PLAN FOR LOWER-INCOME HOUSEHOLDS STRUGGLING AND FACING POSSIBLE FORECLOSURE IN THE WAKE OF THE PANDEMIC | $125,000 |
The Housing Partnership Network Inc Boston, MA PURPOSE: HOUSING STABILIZATION (RENTER STABILIZATION/EVICTION PREVENTION & HOMEOWNER ASSISTANCE/FORECLOSURE PREVENTION) | $120,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Institute For Community Alliances Des Moines, IA | $2,443,302 | $12,133,028 |
Western Home Services Inc Cedar Falls, IA | $36,931,248 | $9,460,886 |
Partners For Community Development Inc Sheboygan, WI | $8,253,882 | $7,968,342 |
Minnesota Home Ownership Center St Paul, MN | $17,549,875 | $3,064,242 |
Land Bank Twin Cities Inc St Anthony, MN | $25,684,992 | $6,229,470 |
Housing Resources Inc Milwaukee, WI | $1,278,452 | $4,218,125 |
Greater Green Bay Habitat For Humanity Green Bay, WI | $9,776,168 | $3,142,134 |
American Indian Community Housing Organization Duluth, MN | $7,296,736 | $3,254,073 |
Successful Living Supportive Housing Program Iowa City, IA | $3,127,012 | $2,854,795 |
World Learner School Of Chaska Chaska, MN | $2,061,201 | $2,337,089 |
Wisconsin Balance Of State Continuum Of Care Inc Eau Claire, WI | $302,883 | $2,354,061 |
Mano A Mano International Partners St Paul, MN | $4,322,951 | $3,022,158 |