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← FAMILY HOUSING FUND

Form 990 for tax year 2023

Filed by FAMILY HOUSING FUND.

Totals

Total revenue
$4,895,950
Total expenses
$5,723,188
Contributions and grants received
$3,685,678
Grants paid
$2,999,593
Program service revenue
$527,989
Investment income
$600,187
Other revenue
$82,096
Total assets, end of year
$49,428,287
Total liabilities, end of year
$1,172,632
Net assets or fund balances, end of year
$48,255,655
Program services expenses (Part IX)
$4,764,025
Management and general expenses
$772,596
Fundraising expenses
$186,567
Program service expenses (Part III)
$4,764,025

Program services were 83.2% 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.

  • 1f · All other contributions, gifts and grants

    $3,685,678

  • 2a · Program service revenue: INTEREST-HOUSING LOAN

    total $520,605 · related or exempt $520,605

  • 2b · Program service revenue: FEE INCOME

    total $7,384 · related or exempt $7,384

  • 2f · All other program service revenue

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

  • 3 · Investment income

    total $600,187 · excluded $600,187

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $3,499,061

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

    securities $3,499,061

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 7d · Net gain or loss

    total $0 · excluded $0

  • 11a · Other revenue: Returned Grants

    total $82,096 · excluded $82,096

  • 11d · All other revenue

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

  • 11e · Other revenue, total

    $82,096

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,999,593 · program services $2,999,593

  • 5 · Compensation of officers, directors and key employees

    total $279,600 · program services $161,745 · management and general $77,992 · fundraising $39,863

  • 7 · Other salaries and wages

    total $638,758 · program services $369,513 · management and general $178,177 · fundraising $91,068

  • 8 · Pension plan contributions

    total $56,135 · program services $30,900 · management and general $18,373 · fundraising $6,862

  • 9 · Other employee benefits

    total $72,180 · program services $39,861 · management and general $23,402 · fundraising $8,917

  • 10 · Payroll taxes

    total $58,353 · program services $35,129 · management and general $15,016 · fundraising $8,208

  • 11b · Fees: legal

    total $72,219 · program services $57,784 · management and general $14,435

  • 11c · Fees: accounting

    total $206,791 · management and general $206,791

  • 11d · Fees: lobbying

    total $84,000 · program services $84,000

  • 11g · Fees: other

    total $843,258 · program services $732,371 · management and general $109,981 · fundraising $906

  • 13 · Office expenses

    total $74,234 · program services $44,278 · management and general $20,037 · fundraising $9,919

  • 16 · Occupancy

    total $62,681 · program services $37,644 · management and general $16,747 · fundraising $8,290

  • 19 · Conferences, conventions and meetings

    total $18,481 · program services $4,389 · management and general $14,092

  • 22 · Depreciation, depletion and amortization

    total $40,171 · program services $23,163 · management and general $11,376 · fundraising $5,632

  • 23 · Insurance

    total $49,234 · program services $28,388 · management and general $13,944 · fundraising $6,902

  • 24a · Other expenses: PROVISION FOR LOAN LOSS

    total $110,667 · program services $110,667

  • 24b · Other expenses: Reports and communication

    total $51,112 · program services $4,600 · management and general $46,512

  • 24c · Other expenses: MISCELLANEOUS

    total $5,721 · management and general $5,721

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,362,046 · end of year $164,081

  • 2 · Savings and temporary cash investments

    beginning of year $14,707,855 · end of year $14,240,345

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $2,675,500

  • 4 · Accounts receivable

    beginning of year $76,460 · end of year $316,632

  • 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 $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $69,696 · end of year $90,939

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

    $494,333

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

    $436,828

  • 10c · Land, buildings and equipment, net

    beginning of year $97,676 · end of year $57,505

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $32,923,248 · end of year $31,819,384

  • 15 · Other assets

    beginning of year $106,063 · end of year $63,901

  • 17 · Accounts payable and accrued expenses

    beginning of year $176,592 · end of year $350,361

  • 18 · Grants payable

    beginning of year $1,067,000 · end of year $396,000

  • 19 · Deferred revenue

    beginning of year $128,167 · end of year $96,327

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $358,767 · end of year $329,944

  • 27 · Net assets without donor restrictions

    beginning of year $43,040,007 · end of year $43,920,003

  • 28 · Net assets with donor restrictions

    beginning of year $4,572,511 · end of year $4,335,652

Mission and programs · 2023

Mission

THE FAMILY HOUSING FUND (The Fund) IS A NONPROFIT INTERMEDIARY ORGANIZATION WHOSE MISSION IS TO HELP THE AFFORDABLE HOUSING NETWORK ADAPT TO THE NEEDS OF FAMILIES IN COMPLEX AND CONSTANTLY CHANGING CONDITIONS.

Activities or mission (Part I)

To help the affordable housing network adapt to the needs of families in complex and constantly changing conditions.

  • BUILDING EQUITY The Fund supports individuals in purchasing small multifamily homes (2-4 unit properties) and sustaining success as owner-occupant landlords. This program aims to reduce racial wealth disparities by prioritizing engagement with Black, Indigenous, and People of Color homebuyers and helping them onto an accelerated wealth building path. As part of this initiative, the Fund supports training options specific to small multifamily homeownership and provides a variety of financial supports, including down payment assistance loans, post-purchase loans, and a post-purchase savings incentive. 2023 marked the third year of the three-year pilot of this initiative. By the end of 2023, 478 individuals were served by at least one component of the Building Equity initiative, 111 of whom purchased a home with support from the Fund and its partners. As an outgrowth of the Building Equity initiative, the Fund's "Valuing Homes in Black Communities" project has engaged more than 70 aspiring homebuyers, homeowners, and nonprofit partner organizations to develop innovative strategies for advancing homeownership and wealth building opportunities for Black/African American households. Through this engagement, the Fund seeks to develop and implement new approaches and tools for addressing racial disparities in homeownership as well as home valuation.

    Expenses $1,894,189 · Grants $1,353,400

  • EXPAND OPPORTUNITIES The Fund aims to improve housing stability, reduce evictions and displacement, improve housing choice, and ensure access to quality, affordable homes. To accomplish this, the Fund leads and coordinates activities to systematically address threats to housing stability and choice, in partnership with public and private partners. This includes convening partners across private, nonprofit, and public sectors to develop strategies for expanding access to emergency financial assistance, identify and address the impacts of corporate-owned single-family rental homes, disrupt discriminatory tenant screening practices, and improve the quality of the housing stock across the Twin Cities region. In 2023, the Fund engaged with more than 400 stakeholders to increase public will for emergency financial assistance, approximately 140 renters to examine single-family rental homes, and two jurisdictions to protect renters experiencing habitability issues.

    Expenses $1,119,104 · Grants $542,000

  • Activate More Housing Champions The Fund increases public will for housing solutions by supporting advocacy efforts, producing and publishing research, and elevating housing success stories through its strategic communications. The Fund also strengthens the local ecosystem of housing organizations and resources by providing support to community-based partner organizations. In 2023, the Fund published four reports of research and hosted three virtual events with the public to share housing learnings.

    Expenses $869,968 · Grants $722,193

  • The Fund serves as the Fiscal Sponsor to support Nonprofit initiatives. THE FUND ALSO CONTINUES TO WORK WITH LOCAL GOVERNMENTS, NONPROFIT ORGANIZATIONS, AND THE MORTGAGE COMPANY INDUSTRY TO HELP LOW AND MODERATE-INCOME FAMILIES BECOME SUCCESSFUL HOMEOWNERS. THE FUND MAINTAINS RESOURCES TO IDENTIFY EMERGING ISSUES THAT AFFECT THE AFFORDABLE HOUSING NETWORK AND TO HELP DEVELOP STRATEGIES TO ADDRESS THESE ISSUES. THE FUND EXPANDS PUBLIC UNDERSTANDING OF THE VALUE OF AFFORDABLE HOUSING AND PUBLIC WILL TO PRESERVE AND PRODUCE AFFORDABLE HOUSING IN THE CONTEXT OF A COMPREHENSIVE REGIONAL DEVELOPMENT APPROACH THAT SERVES ALL COMMUNITIES AND THEIR RESIDENTS. THE FUND SUPPORTS HOMEOWNERSHIP EDUCATION, COUNSELING, AND TRAINING (HECAT), EQUIPPING A NETWORK OF HOMEOWNERSHIP ADVISORS TO ASSIST FAMILIES BEFORE THEY PURCHASE THEIR HOMES, AT THE TIME OF PURCHASE, AND AFTER THE FAMILY HAS PURCHASED A HOME. THE FUND WORKS WITH PRIVATE AND PUBLIC PARTNERS TO FUND HECAT. THE FUND ALSO CONTINUES TO MANAGE ITS PORTFOLIO OF AFFORDABLE HOMEOWNERSHIP LOANS FROM SEVERAL PAST HOMEOWNERSHIP PROGRAMS. THESE PROGRAMS PROVIDED AFFORDABLE, SUSTAINABLE HOMEOWNERSHIP OPPORTUNITIES TO LOW- AND MODERATE-INCOME FAMILIES. Increase Supply This program area aims to increase housing choice and affordability by expanding new approaches to housing development and preservation in the Twin Cities region. The Fund informs local policy throughout the region to preserve and produce housing, while also exploring and supporting new tools for expanding the supply of quality, affordable homes. The Fund has established a $2 million development/acquisition fund for 2-4 unit properties, promoted the development of accessory dwelling units to 202 homeowners, and supported local public entities in planning for the creation of nearly 892 new public housing units.

    Expenses $880,764 · Grants $382,000 · Revenue $527,989

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

Listed in Part VII

  • ALENE TCHOURUMOFF

    CHAIRPERSON

    Total calculated
    $0
    Hours/week
    3

  • ANDREA BRENNAN

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    3

  • CRAIG KLAUSING

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    3

  • D'ANGELOS SVENKESON

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    3

  • JOHN QUINCY

    VICE PRESIDENT/TREASURER

    Total calculated
    $0
    Hours/week
    3

  • REBECCA NOECKER

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    3

  • Aarica Coleman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Amy McCulloch

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Amy Stezel

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Anisha Murphy

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Bill Droste

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Blanca Martinez Gavina

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Danielle Grant

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Elena Gaarder

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Jamal Osman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • John DeCramer

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Jonathan Weinhagen

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Kasey Kier

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Kizzy Downie

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Lisa Goodman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Mitra Jalali

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Nichol Dehmer

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Travis Bistodeau

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • ELLEN SAHLI

    PRESIDENT

    Total calculated
    $279,600
    From this org
    $232,891
    From related orgs
    $0
    Other
    $46,709
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $232,891
    Bonus
    $0
    Other
    $0
    Deferred
    $23,289
    Nontaxable benefits
    $23,420
    Filer's total
    $279,600

  • FUMIKO SALONE

    DIRECTOR OF OPERATIONS

    Total calculated
    $172,941
    From this org
    $137,667
    From related orgs
    $0
    Other
    $35,274
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $127,496
    Bonus
    $10,171
    Other
    $0
    Deferred
    $13,767
    Nontaxable benefits
    $21,507
    Filer's total
    $172,941

  • KARYSSA SCHECK

    Development and Communications Officer

    Total calculated
    $119,785
    From this org
    $101,991
    From related orgs
    $0
    Other
    $17,794
    Hours/week
    40

  • KRISTIN BURCH

    PROGRAM DIRECTOR

    Total calculated
    $166,098
    From this org
    $134,834
    From related orgs
    $0
    Other
    $31,264
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $129,721
    Bonus
    $5,113
    Other
    $0
    Deferred
    $13,483
    Nontaxable benefits
    $17,781
    Filer's total
    $166,098

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 · 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

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2023
Filed
23 April 2024
IRS schema version
2023v5.0
Source object
202441149349301114

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

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