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Nonprofiteer
← EAST EDINA HOUSING FOUNDATION

Form 990 for tax year 2023

Filed by EAST EDINA HOUSING FOUNDATION.

Totals

Total revenue
$289,112
Total expenses
$94,546
Contributions and grants received
$0
Grants paid
$30,000
Program service revenue
$108,855
Investment income
$100,442
Other revenue
$79,815
Total assets, end of year
$12,140,883
Total liabilities, end of year
$4,169
Net assets or fund balances, end of year
$12,136,714
Program services expenses (Part IX)
$58,590
Management and general expenses
$35,956
Fundraising expenses
$0
Program service expenses (Part III)
$58,590

Program services were 62.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: INTEREST FROM MORTGAGE

    total $108,855 · related or exempt $108,855

  • 3 · Investment income

    total $83,714 · excluded $83,714

  • 7a · Gross sales of assets other than inventory

    securities $16,728

  • 7b · Less cost or other basis and sales expenses

    securities $0

  • 7c · Gain or loss

    securities $16,728

  • 7d · Net gain or loss

    total $16,728 · excluded $16,728

  • 11a · Other revenue: RECOVERY OF BAD DEBT

    total $76,378 · excluded $76,378

  • 11b · Other revenue: ESCROW

    total $3,437 · excluded $3,437

  • 11e · Other revenue, total

    $79,815

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $30,000 · program services $30,000

  • 11a · Fees: management

    total $18,176 · program services $18,176

  • 11b · Fees: legal

    total $28,171 · management and general $28,171

  • 11c · Fees: accounting

    total $7,785 · management and general $7,785

  • 11g · Fees: other

    total $2,500 · program services $2,500

  • 23 · Insurance

    total $4,660 · program services $4,660

  • 24e · All other expenses

    total $3,254 · program services $3,254

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,185,560 · end of year $1,380,841

  • 2 · Savings and temporary cash investments

    beginning of year $1,365,636 · end of year $442,197

  • 7 · Other notes and loans receivable

    beginning of year $3,528,133 · end of year $4,254,240

  • 11 · Investments: publicly traded securities

    beginning of year $410,827 · end of year $462,193

  • 15 · Other assets

    beginning of year $5,470,123 · end of year $5,601,412

  • 17 · Accounts payable and accrued expenses

    beginning of year $18,131 · end of year $4,169

  • 27 · Net assets without donor restrictions

    beginning of year $11,942,148 · end of year $12,136,714

Mission and programs · 2023

Mission

TO ENGAGE IN AND CONDUCT CHARITABLE ACTIVITIES EXCLUSIVELY FOR THE BENEFIT OF, TO PERFORM THE FUNCTION OF AND TO ASSIST IN CARRYING OUT THE CHARITABLE PURPOSES OF THE CITY OF EDINA AND THE HRA: TO PROVIDE IN THE EEHF NEIGHBORHOOD, MODEST COST HOUSING FOR PERSONS OF LOW AND MODERATE INCOME AND IN CONNECTION THEREWITH,1. PROMOTE AND UNDERTAKE COMMUNITY DEVELOPMENT ACTIVITIES ON A NON-PROFIT BASIS WITHIN THE EEHF NEIGHBORHOOD.2. PROVIDE ASSISTANCE TO NON-PROFIT OR NOT-FOR-PROFIT DEVELOPERS OR SPONSORS OF LOW OR MODERATE-INCOME HOUSING, INCLUDING HOUSING FOR THE ELDERLY UNDER SECTION 202 OF THE NATIONAL HOUSING ACT OF 1959, WITHIN THE NEIGHBORHOOD AREA.3. RECEIVE BLOCK GRANTS OR SIMILAR FUNDS FROM THE CITY, OR OTHER GOVERNMENTAL AGENCIES OR SUBDIVISIONS, INCLUDING THE AUTHORITY, AND TO PUT TO PRODUCTIVE USE ALL OF SUCH FUNDS EXCLUSIVELY FOR THE AFOREMENTIONED PURPOSES.

Activities or mission (Part I)

TO PROVIDE LOW AND MODERATE INCOME HOUSEHOLDS WITH A FINANCING TOOL SO THEY CAN ACQUIRE HOUSING.

  • COME HOME TO EDINA

    Expenses $53,930 · Grants $30,000 · Revenue $108,855

  • BUILDING ACQUISITION FOR COMPLETED LAND REDEVELOPMENT: 4040 WEST 70TH

    Expenses $4,660

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • JEFF HUGGETT

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    4

  • ANN SWENSON

    PRESIDENT

    Total calculated
    $0
    Hours/week
    4

  • BERNADETTE HORNIG

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    4

  • MARY KAY MCNEE

    SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    4

  • JERRY GILLIGAN

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    4

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202413209349323746

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