Totals
- Total revenue
- $493,575
- Total expenses
- $91,067
- Contributions and grants received
- $0
- Grants paid
- $32,000
- Program service revenue
- $359,464
- Investment income
- $134,111
- Other revenue
- $0
- Total assets, end of year
- $12,825,898
- Total liabilities, end of year
- $9,449
- Net assets or fund balances, end of year
- $12,816,449
- Program services expenses (Part IX)
- $73,598
- Management and general expenses
- $17,469
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $73,598
Program services were 80.8% 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 $189,549 · related or exempt $189,549
-
2b · Program service revenue: RECOVERY OF BAD DEBT
total $169,915 · related or exempt $169,915
-
3 · Investment income
total $144,434 · excluded $144,434
-
7b · Less cost or other basis and sales expenses
securities $10,323
-
7c · Gain or loss
securities -$10,323
-
7d · Net gain or loss
total -$10,323 · excluded -$10,323
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $32,000 · program services $32,000
-
11a · Fees: management
total $20,676 · program services $18,176 · management and general $2,500
-
11b · Fees: legal
total $11,556 · management and general $11,556
-
11c · Fees: accounting
total $3,413 · management and general $3,413
-
11g · Fees: other
total $13,920 · program services $13,920
-
13 · Office expenses
total $2,562 · program services $2,562
-
16 · Occupancy
total $1,111 · program services $1,111
-
23 · Insurance
total $4,837 · program services $4,837
-
24e · All other expenses
total $992 · program services $992
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,380,841 · end of year $737,251
-
2 · Savings and temporary cash investments
beginning of year $442,197 · end of year $245,000
-
7 · Other notes and loans receivable
beginning of year $4,254,240 · end of year $5,424,630
-
11 · Investments: publicly traded securities
beginning of year $462,193 · end of year $889,331
-
15 · Other assets
beginning of year $5,601,412 · end of year $5,529,686
-
17 · Accounts payable and accrued expenses
beginning of year $4,169 · end of year $9,449
-
27 · Net assets without donor restrictions
beginning of year $12,136,714 · end of year $12,816,449
Mission and programs · 2024
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.
-
THE COME HOME TO EDINA PROGRAM PROVIDES DOWNPAYMENT MORTGAGE ASSISTANCE THAT IS SUBORDINATE TO A FIRST MORTGAGE. IN 2024 WE CLOSED ON 25 LOANS (MORTGAGES) TOTALING $1,613,062. WE ALSO CLOSED ON 3 FIRST GENERATION FORGIVABLE MORTGAGES TOTALING $60,000. THESE LOANS HELP MAKE HOME OWNERSHIP POSSIBLE FOR THESE 25 BORROWERS.
Expenses $68,761 · Grants $32,000 · Revenue $189,549
-
4040 WEST 70TH LAND REDEVELOPMENT - THIS PROPERTY HAS BEEN FULLY REDEVELOPED INTO A 188 UNIT AGE RESTRICTED AFFORDABLE APARTMENTS BUILDING. THE LAND IS OWNED BY THE EDINA HOUSING FOUNDATION WHO ENTERED INTO A GROUND LEASE WITH THE BUILDING OWNER.
Expenses $4,837
As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Ann SwensonANN SWENSON
PRESIDENT
- Total calculated
- $0
- Hours/week
- 4
-
Jerry GilliganJERRY GILLIGAN
SECRETARY
- Total calculated
- $0
- Hours/week
- 4
-
Bernadette HorningBERNADETTE HORNING
VICE PRESIDENT
- Total calculated
- $0
- Hours/week
- 4
-
Mary Kay McNeeMARY KAY MCNEE
VICE PRESIDENT
- Total calculated
- $0
- Hours/week
- 4
-
Jeff HuggettJEFF HUGGETT
TREASURER
- 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
-
$32,000
DONATION TO SUPPPORT HOME PROGRAM
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.
-
CITY OF EDINA
GOV · CITY · MN
-
HOUSING AND REDEVELOPMENT AUTHORITY OF EDINA MINNESOTA
GOV · HOUSING · MN
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 4 November 2025
- IRS schema version
- 2024v5.2
- Source object
- 202533119349300743
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