Form 990 for tax year 2022
Filed by MINNESOTA HOME OWNERSHIP CENTER.
Totals
- Total revenue
- $7,198,884
- Total expenses
- $8,555,682
- Contributions and grants received
- $7,376,747
- Grants paid
- $0
- Program service revenue
- -$100,554
- Investment income
- -$94,529
- Other revenue
- $17,220
- Total assets, end of year
- $14,152,614
- Total liabilities, end of year
- $1,289,011
- Net assets or fund balances, end of year
- $12,863,603
- Program services expenses (Part IX)
- $7,825,380
- Management and general expenses
- $699,046
- Fundraising expenses
- $31,256
- Program service expenses (Part III)
- $7,825,380
Program services were 91.5% 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.
-
1e · Government grants (contributions)
$6,813,533
-
1f · All other contributions, gifts and grants
$563,214
-
2a · Program service revenue: FEES FOR SERVICE
total $69,518 · related or exempt $69,518
-
2b · Program service revenue: TRAINING FEES
total $50,525 · related or exempt $50,525
-
2c · Program service revenue: LOAN REPAYMENT
total $9,377 · related or exempt $9,377
-
2d · Program service revenue: FRAMEWORK HOMEOWNERSHI
total -$229,974 · related or exempt -$229,974
-
3 · Investment income
total $258,395 · excluded $258,395
-
7a · Gross sales of assets other than inventory
securities $2,700,598
-
7b · Less cost or other basis and sales expenses
securities $3,053,522
-
7c · Gain or loss
securities -$352,924
-
7d · Net gain or loss
total -$352,924 · excluded -$352,924
-
10a · Gross sales of inventory
$1,324
-
10b · Cost of goods sold
$3,004
-
10c · Net income from sales of inventory
total -$1,680 · related or exempt -$1,680
-
11a · Other revenue: OTHER INCOME
total $18,900 · related or exempt $18,900
-
11e · Other revenue, total
$18,900
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $219,723 · program services $74,706 · management and general $140,623 · fundraising $4,394
-
7 · Other salaries and wages
total $782,608 · program services $603,179 · management and general $179,429
-
8 · Pension plan contributions
total $65,882 · program services $44,693 · management and general $21,189
-
9 · Other employee benefits
total $59,378 · program services $42,867 · management and general $16,511
-
10 · Payroll taxes
total $72,654 · program services $50,385 · management and general $22,022 · fundraising $247
-
11b · Fees: legal
total $10,299 · program services $8,256 · management and general $2,043
-
11c · Fees: accounting
total $118,483 · program services $80,120 · management and general $37,985 · fundraising $378
-
11d · Fees: lobbying
total $37,800 · management and general $37,800
-
11e · Fees: professional fundraising services
total $25,540 · fundraising $25,540
-
11f · Fees: investment management
total $77,856 · management and general $77,856
-
11g · Fees: other
total $593,075 · program services $525,747 · management and general $67,301 · fundraising $27
-
12 · Advertising and promotion
total $970 · program services $970
-
13 · Office expenses
total $41,271 · program services $27,489 · management and general $13,653 · fundraising $129
-
14 · Information technology
total $83,355 · program services $55,099 · management and general $27,996 · fundraising $260
-
16 · Occupancy
total $3,058 · program services $1,014 · management and general $2,039 · fundraising $5
-
17 · Travel
total $12,096 · program services $6,045 · management and general $6,051
-
22 · Depreciation, depletion and amortization
total $58,885 · program services $39,819 · management and general $18,878 · fundraising $188
-
23 · Insurance
total $9,301 · program services $6,289 · management and general $2,982 · fundraising $30
-
24a · Other expenses: DIRECT ASSISTANCE
total $4,357,672 · program services $4,357,672
-
24b · Other expenses: HOME OWNERSHIP COUNSELI
total $1,872,062 · program services $1,872,062
-
24c · Other expenses: DUES AND SUBSCRIPTIONS
total $20,391 · program services $12,336 · management and general $7,997 · fundraising $58
-
24d · Other expenses: STAFF RECRUITING AND DE
total $11,600 · program services $3,307 · management and general $8,293
-
24e · All other expenses
total $21,723 · program services $13,325 · management and general $8,398
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $2,485,918 · end of year $664,069
-
2 · Savings and temporary cash investments
beginning of year $1,133,942 · end of year $743,560
-
3 · Pledges and grants receivable
beginning of year $667,866 · end of year $796,657
-
8 · Inventories for sale or use
beginning of year $3,004 · end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $42,752 · end of year $44,085
-
10a · Land, buildings and equipment: cost or other basis
$557,866
-
10b · Land, buildings and equipment: accumulated depreciation
$394,487
-
10c · Land, buildings and equipment, net
beginning of year $173,457 · end of year $163,379
-
11 · Investments: publicly traded securities
beginning of year $10,228,048 · end of year $9,155,950
-
13 · Investments: program-related
beginning of year $2,814,888 · end of year $2,584,914
-
17 · Accounts payable and accrued expenses
beginning of year $805,003 · end of year $766,420
-
19 · Deferred revenue
beginning of year $1,212,972 · end of year $522,591
-
21 · Escrow or custodial account liability
beginning of year $19,752 · end of year $0
-
27 · Net assets without donor restrictions
beginning of year $14,901,315 · end of year $12,402,092
-
28 · Net assets with donor restrictions
beginning of year $610,833 · end of year $461,511
Mission and programs · 2022
Mission
THE MINNESOTA HOME OWNERSHIP CENTER PROMOTES AND ADVANCES SUCCESSFUL HOME OWNERSHIP IN MINNESOTA.
Activities or mission (Part I)
HOME OWNERSHIP EDUCATION AND COUNSELING.
-
THE MINNESOTA HOME OWNERSHIP CENTER, A NOT-FOR-PROFIT ORGANIZATION, BELIEVES THAT EQUITABLE ACCESS 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.
Expenses $7,825,380 · Revenue -$83,334
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Beard TaraBEARD TARA
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.2
-
Bipes RobynBIPES ROBYN
BOARD CHAIR
- Total calculated
- $0
- Hours/week
- 0.5
-
Coleman AaricaCOLEMAN AARICA
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.2
-
Crosby BrianCROSBY BRIAN
SECRETARY
- Total calculated
- $0
- Hours/week
- 0.5
-
Erchul JimERCHUL JIM
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.2
-
El-Sawaf MohammedEL-SAWAF MOHAMMED
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.2
-
Happe MikeHAPPE MIKE
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.2
-
Healy NancyHEALY NANCY
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.2
-
Kimball RoxanneKIMBALL ROXANNE
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.2
-
Lindstrom DavidLINDSTROM DAVID
TREASURER
- Total calculated
- $0
- Hours/week
- 0.2
-
McDonald DarcyMCDONALD DARCY
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.2
-
Pannkuk PattyPANNKUK PATTY
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.2
-
Raverty KeenanRAVERTY KEENAN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.2
-
Rocker JohnROCKER JOHN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.2
-
Solis Zuiker VirginiaSOLIS ZUIKER VIRGINIA
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.2
-
Spellman MattSPELLMAN MATT
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.2
-
Steinhagen JulieSTEINHAGEN JULIE
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
Teng RoseTENG ROSE
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.2
-
Thompson JenTHOMPSON JEN
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 0.2
-
Wreh-Wilson StephenWREH-WILSON STEPHEN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.2
-
Fatima MooreFATIMA MOORE
BOARD MEMBER (PART YEAR)
- Total calculated
- $0
- Hours/week
- 0.2
-
Kayla SchuchmanKAYLA SCHUCHMAN
BOARD MEMBER (PART YEAR)
- Total calculated
- $0
- Hours/week
- 0.2
-
Gugin JulieGUGIN JULIE
PRESIDENT
- Total calculated
- $219,723
- From this org
- $202,929
- From related orgs
- $0
- Other
- $16,794
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $202,929
- Bonus
- $0
- Other
- $0
- Deferred
- $14,206
- Nontaxable benefits
- $2,588
- Filer's total
- $219,723
-
Karen PedersonKAREN PEDERSON
ASSOCIATE DIRECTOR
- Total calculated
- $148,495
- From this org
- $136,623
- From related orgs
- $0
- Other
- $11,872
- Hours/week
- 40
-
Kimberly Smith-MooreKIMBERLY SMITH-MOORE
SENIOR DIRECTOR
- Total calculated
- $117,420
- From this org
- $106,404
- From related orgs
- $0
- Other
- $11,016
- Hours/week
- 40
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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 6 June 2023
- IRS schema version
- 2022v5.0
- Source object
- 202331599349301243
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