Totals
- Total revenue
- $301,212
- Total expenses
- $141,757
- Contributions and grants received
- $298,677
- Grants paid
- $0
- Program service revenue
- $0
- Investment income
- $2,535
- Other revenue
- $0
- Total assets, end of year
- $196,567
- Total liabilities, end of year
- $3,881
- Net assets or fund balances, end of year
- $192,686
- Program services expenses (Part IX)
- $118,967
- Management and general expenses
- $21,804
- Fundraising expenses
- $986
- Program service expenses (Part III)
- $118,967
Program services were 83.9% 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
$0
-
1b · Membership dues
$0
-
1c · Fundraising events
$0
-
1d · Related organizations
$0
-
1e · Government grants (contributions)
$298,677
-
1f · All other contributions, gifts and grants
$0
-
1g · Noncash contributions included above
$0
-
3 · Investment income
total $2,535 · related or exempt $0 · unrelated business $0 · excluded $2,535
-
4 · Income from investment of tax-exempt bond proceeds
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
5 · Royalties
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
6c · Rental income or loss
real property $0 · personal property $0
-
7c · Gain or loss
securities $0 · other assets $0
-
8a · Fundraising events: contributions included on line 1c
$0
-
11e · Other revenue, total
$0
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $52,224 · program services $48,047 · management and general $3,655 · fundraising $522
-
7 · Other salaries and wages
total $7,108 · program services $6,539 · management and general $498 · fundraising $71
-
9 · Other employee benefits
total $7,073 · program services $6,507 · management and general $495 · fundraising $71
-
10 · Payroll taxes
total $5,334 · program services $4,908 · management and general $373 · fundraising $53
-
11c · Fees: accounting
total $12,205 · program services $0 · management and general $12,205 · fundraising $0
-
11g · Fees: other
total $37,280 · program services $34,670 · management and general $2,610 · fundraising $0
-
12 · Advertising and promotion
total $269 · program services $0 · management and general $0 · fundraising $269
-
13 · Office expenses
total $9,338 · program services $8,845 · management and general $493 · fundraising $0
-
23 · Insurance
total $1,414 · program services $1,023 · management and general $391 · fundraising $0
-
24a · Other expenses: Bank and business fees
total $3,975 · program services $3,833 · management and general $142 · fundraising $0
-
24b · Other expenses: Program-credit report and loan fees
total $2,414 · program services $2,414 · management and general $0 · fundraising $0
-
24c · Other expenses: Bad debt expense
total $2,144 · program services $1,202 · management and general $942 · fundraising $0
-
24d · Other expenses: Continuing education
total $979 · program services $979 · management and general $0 · fundraising $0
-
24e · All other expenses
total $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $11,156 · end of year $24,307
-
4 · Accounts receivable
beginning of year $22,076 · end of year $14,836
-
7 · Other notes and loans receivable
end of year $152,749
-
9 · Prepaid expenses and deferred charges
end of year $4,675
-
17 · Accounts payable and accrued expenses
beginning of year $0 · end of year $3,881
-
27 · Net assets without donor restrictions
beginning of year $33,232 · end of year $192,686
-
28 · Net assets with donor restrictions
beginning of year $0 · end of year $0
Mission and programs · 2025
Mission
NRRC Financial LLC's mission is to provide innovative and flexible financial products that support and sustain affordable housing, encourage community development, and meet the credit needs of low-income and underserved residents of the Near North and Willard-Hay neighborhoods of Minneapolis.
-
Over 2025, NRRC Financial pursued its mission by supporting homeowners and aspiring homeowners at every stage of the homeownership journey. To address high-cost debt and predatory lending, we offered 0% interest personal loans to residents within our service area. These loans helped borrowers pay off high-interest debt or provided a safe alternative to payday and other high-cost loans. Some borrowers who participated in this program have since become homeowners within our service area. We introduced a new program to payoff mortgage loans for homeowners over 62 with a loan that is forgiven over five years. This program supports housing stability for elder homeowners while helping families preserve and build generational wealth.
Expenses $101,903
-
NRRC Fi provided homebuyer counseling for prospective homeowners, helping clients improve their credit scores, access low-cost credit builder loans, and successfully purchase homes with down payment assistance, including forgivable down payment assistance for first-generation homebuyers.
Expenses $16,069
-
NRRC Fi helped existing homeowners secure affordable home improvement grants and loans, as well as energy efficiency rebates. We also assisted senior homeowners in applying for energy assistance, health and safety grants, and property tax programs. NRRC Financial also supported the preservation of affordable rental housing owned by area residents by assisting landlords with 4D application and securing additional funding to maintain safe, affordable rental units. Through these initiatives, NRRC Financial continues to strengthen housing stability, expand access to affordable financial products, and support long-term community wealth building in North Minneapolis.
Expenses $995
As filed on the 2025 return.
Listed in Part VII
-
Martine Smaller
Board Chair
- Total calculated
- $75,000
- From this org
- $0
- From related orgs
- $75,000
- Other
- $0
- Hours/week
- 2 + 40 related
-
Cristin Burnett
Secretary
- Total calculated
- $52,224
- From this org
- $52,224
- From related orgs
- $0
- Other
- $0
- Hours/week
- 35
-
Brianna Edwards
Director
- Total calculated
- $0
- Hours/week
- 2
-
Karen Washington
Director
- Total calculated
- $0
- Hours/week
- 2
-
Kimberly Jones
Director
- Total calculated
- $0
- Hours/week
- 2
-
JoAnn Harris
Treasurer
- Total calculated
- $0
- Hours/week
- 2
-
Trent Bowman
Vice Chair
- Total calculated
- $0
- Hours/week
- 2
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
No itemized grants to organizations 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.
-
Northside Residents Redevelopment Council
501 (c) (3) · Improving the quality of life in North Minneapolis · MN
Provenance
- Return type
- form_990
- Tax year
- 2025
- Filed
- 2 April 2026
- IRS schema version
- 2025v4.0
- Source object
- 202632619349300343
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