Skip to content
Nonprofiteer
← JUSTINE PETERSEN HOUSING AND REINVESTMENT CORPORATION

Form 990 for tax year 2023

Filed by JUSTINE PETERSEN HOUSING AND REINVESTMENT CORPORATION.

Totals

Total revenue
$15,013,997
Total expenses
$11,788,764
Contributions and grants received
$10,302,073
Grants paid
$0
Program service revenue
$4,809,518
Investment income
-$1,168
Other revenue
-$96,426
Total assets, end of year
$73,969,952
Total liabilities, end of year
$53,027,486
Net assets or fund balances, end of year
$20,942,466
Program services expenses (Part IX)
$11,155,789
Management and general expenses
$508,955
Fundraising expenses
$124,020
Program service expenses (Part III)
$11,155,789

Program services were 94.6% 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.

  • 1a · Federated campaigns

    $106,619

  • 1e · Government grants (contributions)

    $3,827,789

  • 1f · All other contributions, gifts and grants

    $6,367,665

  • 1g · Noncash contributions included above

    $475,000

  • 2a · Program service revenue: LOAN/ADMINISTRATIVE

    total $2,671,665 · related or exempt $2,671,665

  • 2b · Program service revenue: LOAN INTEREST

    total $1,895,046 · related or exempt $1,895,046

  • 2c · Program service revenue: TRAINING/CREDIT SERVICE

    total $174,466 · related or exempt $174,466

  • 2d · Program service revenue: CREDIT REPORT INCOME

    total $10,551 · related or exempt $10,551

  • 2e · Program service revenue: REAL ESTATE BROKERAGE INCOME

    total $18,482 · related or exempt $18,482

  • 2f · All other program service revenue

    total $39,308 · related or exempt $39,308 · unrelated business $0 · excluded $0

  • 6a · Gross rents

    real property $278,296

  • 6b · Less rental expenses

    real property $374,722 · personal property $0

  • 6c · Rental income or loss

    real property -$96,426 · personal property $0

  • 6d · Net rental income or loss

    total -$96,426 · related or exempt -$96,426

  • 7a · Gross sales of assets other than inventory

    other assets $36,673

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

    other assets $37,841

  • 7c · Gain or loss

    securities $0 · other assets -$1,168

  • 7d · Net gain or loss

    total -$1,168 · related or exempt -$1,168

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0 · program services $0

  • 2 · Grants to domestic individuals

    total $0 · program services $0

  • 5 · Compensation of officers, directors and key employees

    total $457,764 · program services $415,009 · management and general $34,378 · fundraising $8,377

  • 7 · Other salaries and wages

    total $2,877,928 · program services $2,609,130 · management and general $216,132 · fundraising $52,666

  • 9 · Other employee benefits

    total $332,521 · program services $301,464 · management and general $24,972 · fundraising $6,085

  • 10 · Payroll taxes

    total $206,505 · program services $187,217 · management and general $15,509 · fundraising $3,779

  • 11b · Fees: legal

    total $18,065 · program services $16,377 · management and general $1,357 · fundraising $331

  • 11c · Fees: accounting

    total $280,871 · program services $254,638 · management and general $21,093 · fundraising $5,140

  • 11g · Fees: other

    total $1,546,146 · program services $1,401,737 · management and general $116,115 · fundraising $28,294

  • 12 · Advertising and promotion

    total $49,280 · program services $44,677 · management and general $3,701 · fundraising $902

  • 13 · Office expenses

    total $734,514 · program services $685,911 · management and general $39,080 · fundraising $9,523

  • 16 · Occupancy

    total $21,462 · program services $19,457 · management and general $1,612 · fundraising $393

  • 17 · Travel

    total $32,463 · program services $29,431 · management and general $2,438 · fundraising $594

  • 19 · Conferences, conventions and meetings

    total $36,666 · program services $33,241 · management and general $2,754 · fundraising $671

  • 20 · Interest

    total $1,811,722 · program services $1,811,722

  • 22 · Depreciation, depletion and amortization

    total $87,066 · program services $78,934 · management and general $6,539 · fundraising $1,593

  • 23 · Insurance

    total $178,152 · program services $163,409 · management and general $11,854 · fundraising $2,889

  • 24a · Other expenses: BAD DEBT EXPENSE

    total $2,918,574 · program services $2,918,574

  • 24b · Other expenses: CREDIT REPORT CHARGES

    total $72,634 · program services $65,850 · management and general $5,455 · fundraising $1,329

  • 24c · Other expenses: ALL OTHER EXPENSES

    total $49,556 · program services $44,927 · management and general $3,722 · fundraising $907

  • 24d · Other expenses: CLIENT ACCOUNT ADJUSTMENTS

    total $46,989 · program services $46,989

  • 24e · All other expenses

    total $29,886 · program services $27,095 · management and general $2,244 · fundraising $547

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,429,064 · end of year $5,057,017

  • 2 · Savings and temporary cash investments

    beginning of year $286,729 · end of year $2,337,262

  • 4 · Accounts receivable

    beginning of year $1,204,810 · end of year $903,408

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $30,057 · end of year $48,007

  • 7 · Other notes and loans receivable

    beginning of year $20,783,757 · end of year $32,702,174

  • 9 · Prepaid expenses and deferred charges

    beginning of year $22,787 · end of year $19,796

  • 10a · Land, buildings and equipment: cost or other basis

    $11,151,822

  • 10b · Land, buildings and equipment: accumulated depreciation

    $911,766

  • 10c · Land, buildings and equipment, net

    beginning of year $8,909,878 · end of year $10,240,056

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $452,194 · end of year $452,194

  • 15 · Other assets

    beginning of year $22,123,558 · end of year $22,210,038

  • 17 · Accounts payable and accrued expenses

    beginning of year $486,184 · end of year $747,714

  • 19 · Deferred revenue

    beginning of year $298,101 · end of year $1,539,385

  • 21 · Escrow or custodial account liability

    beginning of year $122,171 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $36,929,382 · end of year $49,013,026

  • 25 · Other liabilities

    beginning of year $1,617,299 · end of year $1,727,361

  • 27 · Net assets without donor restrictions

    beginning of year $19,035,696 · end of year $20,288,343

  • 28 · Net assets with donor restrictions

    beginning of year $754,001 · end of year $654,123

Mission and programs · 2023

Mission

JUSTINE PETERSEN'S MISSION IS TO PROMOTE HOUSING, SAVINGS, AND ECONOMIC DEVELOPMENT OF LOW AND MODERATE INCOME FAMILIES TO BUILD ASSETS AND CREATE ENDURING CHANGE.

Activities or mission (Part I)

CREATE ENDURING CHANGE FOR LOW/MODERATE INCOME FAMILIES VIA HOUSING, SAVINGS AND ECONOMIC DEV.

  • 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.

    Expenses $8,960,562 · Revenue $4,711,924

  • 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.

    Expenses $1,556,593

  • 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.

    Expenses $638,634

As filed on the 2023 return.

Listed in Part VII

  • ALLAN D IVIE IV

    TREASURER

    Total calculated
    $0
    Hours/week
    3 + 3 related

  • EDDIE DAVIS

    PRESIDENT

    Total calculated
    $0
    Hours/week
    3 + 3 related

  • ROCHELLE BEA

    SECRETARY

    Total calculated
    $0
    Hours/week
    3 + 3 related

  • ANGELA BURRAGE

    MEMBER

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • JACQUELINE HUTCHINSON

    MEMBER

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • ROBERT BOYLE

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $202,949
    From this org
    $190,000
    From related orgs
    $0
    Other
    $12,949
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $175,000
    Bonus
    $15,000
    Other
    $0
    Deferred
    $5,811
    Nontaxable benefits
    $7,138
    Filer's total
    $202,949

  • SHERI FLANIGAN-VAZQUEZ

    CHIEF OPERATING OFFICER

    Total calculated
    $254,815
    From this org
    $227,550
    From related orgs
    $0
    Other
    $27,265
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $208,950
    Bonus
    $18,600
    Other
    $0
    Deferred
    $7,964
    Nontaxable benefits
    $19,301
    Filer's total
    $254,815

  • AIDA RICHARDSON

    CHIEF LENDING OFFICER

    Total calculated
    $190,510
    From this org
    $183,000
    From related orgs
    $0
    Other
    $7,510
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $168,000
    Bonus
    $15,000
    Other
    $0
    Deferred
    $6,405
    Nontaxable benefits
    $1,105
    Filer's total
    $190,510

  • SONIA SMITH

    DIRECTOR OF FINANCE

    Total calculated
    $103,795
    From this org
    $103,795
    From related orgs
    $0
    Other
    $0
    Hours/week
    40 + 1 related

  • TRISTAN BROWN

    IL Market Manager

    Total calculated
    $126,625
    From this org
    $114,675
    From related orgs
    $0
    Other
    $11,950
    Hours/week
    40 + 1 related

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • TWENTY FIRST HOMES LP

    Related · RESIDENTIAL REAL ESTATE · IL · 99.99% owned · share of income -$159,821 · share of assets $3,037,037

    Directly controlled by JPHRC

  • JP EMERGING MARKETS FUND I LLC

    Related · INVESTMENT FUND · CO · 0% owned · share of assets $1 · general or managing partner

    Directly controlled by JPHRC

  • JP COVID-19 RESPONSE FUND LLC

    Related · INVESTMENT FUND · DE · 0% owned · share of assets $1 · general or managing partner

    Directly controlled by JPHRC

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • GREAT RIVERS COMMUNITY CAPITAL

    C Corporation · COMMUNITY DEVELOPMENT · MO · 100% owned · share of income $4,562,073 · share of assets $26,578,157 · controlled entity

    Directly controlled by JPHRC

  • TWENTY FIRST HOMES DEVELOPERS NFP

    C Corporation · LOW INCOME HOUSING · IL · 100% owned · share of income $1 · share of assets $160 · controlled entity

    Directly controlled by JPHRC

Provenance

Return type
form_990
Tax year
2023
Filed
1 November 2024
IRS schema version
2023v5.1
Source object
202443069349300949

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.