Greater Minnesota Management
- Assets
- $2.7m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 29
- Location
- Erskine, MN
- Founding
- 07/1998
- Data as of
- 06/2022
- EIN
- 41-1881207
Organization Overview
Greater Minnesota Management is located in Erskine, MN. The organization was established in 1998. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. As of 06/2022, Greater Minnesota Management employed 29 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greater Minnesota Management 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 06/2022, Greater Minnesota Management generated $1.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.0% each year. All expenses for the organization totaled $1.4m during the year ending 06/2022. While expenses have increased by 6.4% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
MANAGING RENTAL HOUSING PROJECTS BUILT WITH ESSENTIAL FUNCTION BONDS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GREATER MINNESOTA MANAGEMENT WRITES THIRD PARTY MANAGEMENT CONTRACTSWITH THE OWNERS TO PROVIDE FULL MANAGEMENT SERVICES AS SPECIFIED IN THEDETAILED MANAGEMENT CONTRACT. THE SERVICES INCLUDE FULL ACCOUNTINGSERVICE, MARKETING THE PROPERTY, QUALIFYING THE APPLICANTS, MANAGINGTHE LEASES, AND ADMINISTRATING THE MAINTENANCE OF THE PROPERTY. DURING2021 GREATER MINNESOTA MANAGEMENT MANAGED 874 RENTAL UNITS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Miriam Buchanan CEO | Officer | 20 | $36,788 |
Kristen Morgenroth Finance Manager | Officer | 20 | $29,931 |
Tim Flathers President | OfficerTrustee | 0.5 | $0 |
Betty Arvidson Sec/treas | OfficerTrustee | 0.5 | $0 |
Susan Christianson Sec/treas | OfficerTrustee | 0.5 | $0 |
Charles Lucken Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $1,446,662 |
| Investment income | $16,970 |
| 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 | $1,484,225 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $231,836 |
| Compensation of current officers, directors, key employees. | $231,836 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $808,096 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $157,200 |
| Payroll taxes | $94,096 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $32,224 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,385 |
| Advertising and promotion | $3,344 |
| Office expenses | $8,857 |
| Information technology | $5,031 |
| Royalties | $0 |
| Occupancy | $20,584 |
| Travel | $1,162 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $990 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $35,115 |
| Insurance | $9,335 |
| All other expenses | $2,115 |
| Total functional expenses | $1,439,686 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $594,899 |
| Savings and temporary cash investments | $386,485 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $37,383 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,163,561 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $7,617 |
| Net Land, buildings, and equipment | $478,654 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $24,497 |
| Total assets | $2,693,096 |
| Accounts payable and accrued expenses | $108,125 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $108,125 |
| Net assets without donor restrictions | $2,584,971 |
| Net assets with donor restrictions | $0 |
| 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 | $2,693,096 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Sholom Home East Inc St Paul, MN | $55,805,227 | $20,264,604 |
Homestead At Rochester Inc Eden Prairie, MN | $84,661,096 | $19,652,604 |
Jeremiah Program Minneapolis, MN | $39,745,824 | $13,376,447 |
Milwaukee Habitat For Humanity Milwaukee, WI | $24,987,795 | $20,382,762 |
Habitat For Humanity International Inc Des Moines, IA | $24,118,438 | $12,529,342 |
Community Housing Resources Minneapolis, MN | $41,679,341 | $15,920,162 |
Home And Community Options Inc Winona, MN | $11,542,509 | $9,788,629 |
Phm New Richmond Senior Housing Inc Roseville, MN | $18,158,628 | $8,376,438 |
Greater Minnesota Housing Fund St Paul, MN | $209,115,546 | $19,170,053 |
American Indian Community Development Corporation Minneapolis, MN | $37,892,319 | $10,832,403 |
Habitat For Humanity International Inc Madison, WI | $16,210,690 | $8,401,610 |
Phw Menomonee Falls Inc Roseville, MN | $45,125,918 | $7,810,658 |