Justine Petersen Housing And Reinvestment Corporation
- Assets
- $74.0m
- Revenue
- $15.0m
- Investments
- $0.0
- Employees
- 67
- Location
- Saint Louis, MO
- Founding
- 03/1998
- Data as of
- 12/2023
- EIN
- 43-1769074
Organization Overview
Justine Petersen Housing And Reinvestment Corporation is located in Saint Louis, MO. The organization was established in 1998. 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 12/2023, Justine Petersen Housing And Reinvestment Corporation employed 67 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Justine Petersen Housing And Reinvestment Corporation 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 12/2023, Justine Petersen Housing And Reinvestment Corporation generated $15.0m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 16.0% each year . All expenses for the organization totaled $11.8m during the year ending 12/2023. While expenses have increased by 14.9% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
CREATE ENDURING CHANGE FOR LOW/MODERATE INCOME FAMILIES VIA HOUSING, SAVINGS AND ECONOMIC DEV.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TECHNICAL ASSISTANCE AND LENDING TO SMALL BUSINESSES AND MICRO-ENTERPRISES. AS THE NATION'S LARGEST SBA MICRO-LOAN INTERMEDIARY, JUSTINE PETERSEN BORROWS MONEY DIRECTLY FROM THE SBA AND ORIGINATES MICRO-ENTERPRISE LOANS UNDER $50,000 IN ACCORDANCE WITH ITS OWN UNDERWRITING GUIDELINES TO SMALL BUSINESS OWNERS THAT MAY NOT BE ABLE TO SECURE CAPITAL ELSEWHERE. JUSTINE PETERSEN PARTICIPATES IN THE USDA INTERMEDIARY RELENDING PROGRAM FOR ITS RURAL LENDING. JUSTINE PETERSEN AND ITS SUBSIDIARY, GREAT RIVERS COMMUNITY CAPITAL, ARE BOTH TREASURY-CERTIFIED COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS (CDFI) AND ORIGINATE MICRO-ENTERPRISE AND SMALL BUSINESS LOANS. GEOGRAPHICALLY, JUSTINE PETERSEN/GREAT RIVERS CURRENTLY OFFER MICROENTERPRISE/SMALL BUSINESS LOANS IN 73 ILLINOIS AND 28 KANSAS COUNTIES AND THE ENTIRE STATE OF MISSOURI. IN 2023, JUSTINE PETERSEN AND ITS SUBSIDARY PROVIDED TECHNICAL ASSISTANCE AND ORIGINATED NEARLY $40 MILLION IN OVER 1,000 MICRO-ENTERPRISE AND SMALL BUSINESS LOANS AND ORIGINATED OVER $2.2 MILLION IN 758 CONSUMER LOANS.
HOUSING - AS A HUD CERTIFIED HOUSING COUNSELING AGENCY, COUNSELORS ASSIST LOW TO MODERATE INCOME FAMILIES AND INDIVIDUALS TO ADDRESS CREDIT AND OTHER BARRIERS TO PURCHASING OR REFINANCING A HOME. JUSTINE PETERSEN IMPLEMENTS FINANCIAL COUNSELING, STRATEGIES AND PRODUCTS INCLUDING BUDGETING, FINANCIAL EDUCATION, LOAN COUNSELING AND HOMEBUYER EDUCATION TO ASSIST HOMEOWNERS STRUGGLING TO PAY THEIR MORTGAGES AND NEGOTIATING WITH THEIR LENDER.
SAVINGS - JUSTINE PETERSEN BELIEVES THAT A STRONG CREDIT PROFILE IS ONE'S MOST IMPORTANT FINANCIAL ASSET AND OUR COUNSELORS TEACH HOW TO BUILD AND MAINTAIN A STRONG CREDIT PROFILE. IN 2023, 2,030 LOW AND MODERATE INDIVIDUALS PARTICIPATED IN JUSTINE PETERSEN CREDIT BUILDING SERVICES. AS A LEADER IN THE CREDIT BUILDING AND FINANCIAL CAPABILITY FIELD, JUSTINE PETERSEN TEACHES FINANCIAL COUNSELORS ACROSS THE COUNTRY HOW TO OFFER CREDIT BUILDING SERVICES THROUGH OUT CREDIT BUILDING NATION INITIATIVE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Treasurer | OfficerTrustee | 3 | $0 |
Name Not Listed President | OfficerTrustee | 3 | $0 |
Name Not Listed Secretary | OfficerTrustee | 3 | $0 |
Name Not Listed Member | Trustee | 2 | $0 |
Name Not Listed Member | Trustee | 2 | $0 |
Name Not Listed Chief Executive Officer | Officer | 40 | $190,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $106,619 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,827,789 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,367,665 |
| Noncash contributions included in lines 1a–1f | $475,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,302,073 |
| Total Program Service Revenue | $4,809,518 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$96,426 |
| Net Gain/Loss on Asset Sales | -$1,168 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $15,013,997 |
| 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. | $457,764 |
| Compensation of current officers, directors, key employees. | $34,378 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,877,928 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $332,521 |
| Payroll taxes | $206,505 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $18,065 |
| Fees for services: Accounting | $280,871 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,546,146 |
| Advertising and promotion | $49,280 |
| Office expenses | $734,514 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $21,462 |
| Travel | $32,463 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $36,666 |
| Interest | $1,811,722 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $87,066 |
| Insurance | $178,152 |
| All other expenses | $29,886 |
| Total functional expenses | $11,788,764 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,057,017 |
| Savings and temporary cash investments | $2,337,262 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $903,408 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $48,007 |
| Notes and loans receivable | $32,702,174 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $19,796 |
| Net Land, buildings, and equipment | $10,240,056 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $452,194 |
| Intangible assets | $0 |
| Other assets | $22,210,038 |
| Total assets | $73,969,952 |
| Accounts payable and accrued expenses | $747,714 |
| Grants payable | $0 |
| Deferred revenue | $1,539,385 |
| 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 | $49,013,026 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,727,361 |
| Total liabilities | $53,027,486 |
| Net assets without donor restrictions | $20,288,343 |
| Net assets with donor restrictions | $654,123 |
| 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 | $73,969,952 |