GREATER MINNESOTA HOUSING FUND

As filed

Subsection

03

NTEE code

L20

Classification

1000

Street

2550UNIVERSITY AV W201S

These codes are the IRS's own and are shown exactly as filed. What each one means is in the Business Master File documentation (opens in a new tab).

Mission and programs · 2024

• AFFORDABLE HOUSING LENDING: PLEASE SEE SCHEDULE O FOR THE DESCRIPTION OF AFFORDABLE HOUSING LENDING.GREATER MINNESOTA HOUSING FUND (GMHF) OPERATES A REVOLVING LOAN FUND AND ANNUALLY PROVIDES BETWEEN $80 MILLION AND $100 MILLION IN A VARIETY OF LOANS TO ASSIST AFFORDABLE HOUSING DEVELOPMENT ORGANIZATIONS CREATE OR PRESERVE APPROXIMATELY 1,000 PERMANENTLY AFFORDABLE MULTIFAMILY AND SINGLE-FAMILY HOMES. GMHF PROVIDES LOW-COST LOANS FOR PLANNING AND PREDEVELOPMENT, SITE ACQUISITION, CONSTRUCTION, REHABILITATION, TAX INCREMENT AND EQUITY-BRIDGE FINANCING, FIRST MORTGAGE LOANS, AND WORKING CAPITAL ENTERPRISE LEVEL LOANS FOR QUALIFIED AFFORDABLE HOUSING DEVELOPMENT ORGANIZATIONS. THESE LOANS ENSURE AFFORDABLE HOUSING DEVELOPERS HAVE THE CAPITAL NECESSARY TO UNDERTAKE HIGH-PRIORITY MULTIFAMILY AND SINGLE-FAMILY AFFORDABLE HOUSING REAL ESTATE DEVELOPMENTS IN COMMUNITIES THROUGHOUT MINNESOTA.

  Expenses $8,535,743 · Revenue $13,015,728

• AFFORDABLE HOUSING PROGRAMS, PLANNING AND TECHNICAL ASSISTANCE: PLEASE SEE SCHEDULE O FOR THE DESCRIPTION OF GMHF'S AFFORDABLE HOUSING PROGRAMS, PLANNING AND TECHNICAL ASSISTANCE.MORE THAN JUST A LENDER, GREATER MINNESOTA HOUSING FUND IS KNOWN FOR ITS INNOVATION AND CREATIVE APPROACHES TO MINNESOTA'S AFFORDABLE HOUSING CHALLENGES:GRANTMAKING: GMHF AWARDS GRANTS TO A VARIETY OF INDIVIDUALS AND ORGANIZATIONS ACROSS THE STATE THAT ADVANCE THE GMHF PROGRAMS DESCRIBED BELOW AND FOR STRATEGIC AND SPECIALIZED OPPORTUNITIES SUCH AS AFFORDABLE HOUSING ADVOCACY, LEGAL SERVICES, TENANT ORGANIZING, HOMEBUYER AND DEVELOPER TRAINING, HOUSING RESEARCH, COMMUNITY-BASED PLANNING, CROSS-SECTOR COLLABORATION, LOCAL PLANNING, TECHNICAL ASSISTANCE, AND OTHER ACTIVITIES TO ADVANCE THE AFFORDABLE HOUSING AGENDA IN MINNESOTA.PROGRAMS AND INITIATIVES: GMHF IMPLEMENTS A SERIES OF PROGRAMS TO PROMOTE BEST PRACTICES IN THE AFFORDABLE HOUSING FIELD, INCLUDING:(A) EMERGING DEVELOPERS PROGRAM SUPPORTS EMERGING DEVELOPERS IN THEIR GROWTH AS AFFORDABLE HOUSING DEVELOPERS BY OFFERING GRANT FUNDING, TECHNICAL ASSISTANCE, AND TRAINING;(B) HOUSING & HEALTH EQUITY INITIATIVE LINKS HEALTHCARE ORGANIZATIONS WITH THE HOUSING COMMUNITY TO CREATE INVESTMENT AND INNOVATIVE HOUSING SOLUTIONS;(C) RURAL AND TRIBAL CAPACITY BUILDING BRINGS AFFORDABLE HOUSING FROM CONCEPT TO COMPLETION IN GREATER MN BY OFFERING TECHNICAL ASSISTANCE, PLANNING SUPPORT, AND GRANTS;(D) GREEN LENDING INITIATIVE SUPPORTS THE ELECTRIFICATION AND DECARBONIZATION OF EXISTING AND NEW AFFORDABLE HOUSING BY LEVERAGING LOCAL, STATE, AND FEDERAL RESOURCES AND OFFERING TECHNICAL ASSISTANCE, RESOURCE MATCHING, FINANCING, AND DEMONSTRATION PROJECTS;(E) SMALL NOAH PROGRAM SUPPORTS SMALL AND EMERGING LANDLORDS IN ACQUIRING AND PRESERVING NATURALLY OCCURRING AFFORDABLE UNITS THROUGHOUT MINNESOTA'S RURAL AND URBAN AREAS.GMHF SERVES AS FISCAL SPONSOR FOR THE HEADING HOME MINNESOTA FUNDERS COLLABORATIVE WHOSE PURPOSE IS TO ENGAGE PHILANTHROPY IN SUPPORTING STATE AND LOCAL PLANS TO END AND PREVENT HOMELESSNESS AND GREATER PRODUCTION OF PERMANENT SUPPORTIVE HOUSING WITH SERVICES.RESEARCH AND DEVELOPMENT: GMHF CONDUCTS RESEARCH ON BEST PRACTICES AND STRATEGIES IN AFFORDABLE HOUSING AND DEVELOPS DEMONSTRATION PROJECTS, AS WELL AS PILOT PROGRAMS AND INITIATIVES THAT CAN BE ADOPTED AND IMPLEMENTED STATEWIDE.

  Expenses $4,548,854 · Grants $1,911,816 · Revenue $381,292

• AFFORDABLE HOUSING INVESTING ACTIVITIES: PLEASE SEE SCHEDULE O FOR THE DESCRIPTION OF NOAH IMPACT FUND LLC (NIF) AND MINNESOTA EQUITY FUND (MEF).NOAH IMPACT FUND LLC (NIF), A NON-PROFIT SUBSIDIARY OF GMHF, WAS ORGANIZED IN 2017 TO PRESERVE EXISTING OLDER, MARKET RATE BUT AFFORDABLE CLASS B AND CLASS C RENTAL HOUSING AT RISK OF LOST AFFORDABILITY DUE TO UPSCALING BY INVESTORS. NIF'S ACTIVITIES ARE DESIGNED TO FURTHER THE CHARITABLE PURPOSE OF ITS PARENT, GMHF, BY RAISING SOCIAL IMPACT CAPITAL FROM FINANCIAL INSTITUTIONS, STATE AND LOCAL GOVERNMENT, AND PHILANTHROPY TO COMPETE IN THE RENTAL MARKET AND ACQUIRE UNSUBSIDIZED RENTAL HOUSING, THUS PRESERVING ITS AFFORDABILITY, ENSURING THAT IT CONTINUES TO ACCEPT SECTION 8 AND OTHER RENTAL ASSISTANCE, AND PREVENTING THE DISPLACEMENT OF LOWER-INCOME RESIDENTS. NOAH, OR NATURALLY OCCURRING AFFORDABLE HOUSING, IS THE LARGEST SOURCE OF AFFORDABLE HOUSING ACROSS THE COUNTRY. NIF RAISED $32.5 MILLION IN NOAH POOL I LLC (NP1), WHICH CLOSED ON JUNE 1, 2017. NP1 DEPLOYED $30.6 MILLION TO PRESERVE 701 NOAH UNITS. NIF'S ACTIVITIES WERE PAUSED FROM 2020 TO 2023 DUE TO THE COVID-19 PANDEMIC AND RELATED ECONOMIC DISRUPTIONS. NIF THEN RAISED $33.5 MILLION TO CAPITALIZE NOAH POOL II LLC (NP2). NP2 CLOSED ON MAY 31,2024 AND IS EXPECTED TO PRESERVE THE AFFORDABILITY OF 500+ NOAH UNITS.MINNESOTA EQUITY FUND, LLC, A NON-PROFIT SUBSIDIARY OF GMHF, WAS CREATED IN 2011 TO ASSEMBLE PRIVATE EQUITY CAPITAL FOR THE DEVELOPMENT AND PRESERVATION OF AFFORDABLE RENTAL HOUSING THROUGH THE SYNDICATION OF FEDERAL LOW-INCOME HOUSING TAX CREDITS (LIHTCS) AND, OCCASIONALLY, FEDERAL HISTORIC TAX CREDITS AND ENERGY-RELATED TAX CREDITS. THROUGH THE END OF 2024, MEF HAS FACILITATED THE INVESTMENT OF OVER $320 MILLION OF GROSS EQUITY IN 55 PROJECTS WITH 2,976 NEW AND PRESERVED UNITS IN MINNESOTA AND OTHER STATES THROUGH MULTI-INVESTOR AND SINGLE INVESTOR FUNDS. IN ADDITION TO FINANCING AFFORDABLE WORKFORCE HOUSING FOR FAMILIES AND INDIVIDUALS AND AFFORDABLE HOUSING FOR SENIORS, MEF HAS FUNDED PERMANENT SUPPORTIVE HOUSING WHICH COMBINES HOUSING AND SERVICES TO HELP STABILIZE FORMERLY HOMELESS PEOPLE WHO SUFFER FROM CHRONIC HEALTH PROBLEMS INCLUDING MENTAL ILLNESS AND SUBSTANCE USE DISORDERS, AND MAY OTHERWISE BE HARD TO HOUSE.

  Expenses $1,639,513 · Revenue $325,108

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Officers and directors · 2024

As listed in Part VII of the 2024 return, in the order the filer printed them. Each return names its own; this is not a roster the organization keeps with us.

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. Earlier years are each on their own filing page.

Filings

• 2024

  Revenue

  $40,328,548

  Expenses

  $17,741,215

  Contributions

  $25,989,101

  Grants paid

  $1,911,817

• 2023

  Revenue

  $21,142,915

  Expenses

  $10,679,953

  Contributions

  $13,314,955

  Grants paid

  $1,320,007

• 2022

  Revenue

  $25,043,112

  Expenses

  $12,440,295

  Contributions

  $14,314,340

  Grants paid

  $1,411,700

The four totals the IRS asks for on Part I of the Form 990, as filed. A dash means the figure was not present on the return — not that it was zero.

Other returns filed

• 2021 · 990

  Revenue

  $19,170,053

  Expenses

  $8,877,055

  Assets (EOY)

  $209,115,546

• 2020 · 990

  Revenue

  $16,987,939

  Expenses

  $7,423,519

  Assets (EOY)

  $158,889,987

• 2019 · 990

  Revenue

  $5,924,189

  Expenses

  $7,155,121

  Assets (EOY)

  $126,754,659

• 2018 · 990

  Revenue

  $10,412,534

  Expenses

  $6,183,238

  Assets (EOY)

  $109,054,941

• 2017 · 990

  Revenue

  $3,301,557

  Expenses

  $5,148,804

  Assets (EOY)

  $91,405,928

• 2016 · 990

  Revenue

  $11,087,098

  Expenses

  $5,587,246

  Assets (EOY)

  $89,371,759

• 2015 · 990

  Revenue

  $8,798,608

  Expenses

  $5,959,024

  Assets (EOY)

  $82,806,002

• 2014 · 990

  Revenue

  $14,927,436

  Expenses

  $7,565,788

  Assets (EOY)

  $79,372,144

• 2013 · 990

  Revenue

  $8,336,498

  Expenses

  $5,731,744

  Assets (EOY)

  $70,320,712

• 2012 · 990

  Revenue

  — not reported

  Expenses

  $6,262,021

  Assets (EOY)

  $69,050,544

Nonprofiteer parses Forms 990, 990-EZ and 990-PF, in a window of recent tax years. These returns are recorded from the IRS e-file index, so their figures were extracted by that index rather than read from the return here — treat them as a different source from the filings above, not as more of the same record. A dash means the index carries no figure; Form 990-T listings carry none at all. Showing the 10 most recent; the API carries the rest.

Grants made

• HOUSING JUSTICE CENTER

  $448,500

  2023 · OPERATIONAL SUPPORT

• HOUSING JUSTICE CENTER

  $375,000

  2024 · FUNDING FOR REGIONAL KITCHEN TABLE LED BY PEOPLE WITH LIVED EXPERIENCE FACING HOUSING INSTABILITY

• AMERICAN INDIAN COMMUNITY HOUSING ORGANIZATION

  $187,500

  2024 · FUNDING FOR REGIONAL KITCHEN TABLE LED BY PEOPLE WITH LIVED EXPERIENCE FACING HOUSING INSTABILITY

• ENGAGE WINONA

  $187,500

  2024 · FUNDING FOR REGIONAL KITCHEN TABLE LED BY PEOPLE WITH LIVED EXPERIENCE FACING HOUSING INSTABILITY

• MINNESOTA HOUSING FINANCE AGENCY

  $155,000

  2022 · ORGANIZATIONAL SUPPORT

• MINNESOTA HOUSING PARTNERSHIP

  $155,000

  2024 · COSTS ASSOCIATED WITH LOCAL HOUSING TRUST FUND TECHNICAL ASSISTANCE, PROMOTION OF NEW STATE TAX CREDIT CONTRIBUTION FUND, HOUSING INSTITUTES ROUND 9, AND POLICY DEVELOPMENT

• ENGAGE WINONA

  $150,000

  2022 · ORGANIZATIONAL SUPPORT

• LIFE HOUSE INC

  $150,000

  2022 · ORGANIZATIONAL SUPPORT

• HOME LINE

  $100,000

  2023 · OPERATIONAL SUPPORT

• MINNESOTA COALITION FOR THE HOMELESS

  $87,500

  2022 · ORGANIZATIONAL SUPPORT

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

Where these grants went next →

Grants received

• NATIONAL PHILANTHROPIC TR

  $18,000,000

  2024 · HUMAN SERVICES

• COMMUNITY FOUNDATION OF JACKSON HOLE

  $100,000

  2023 · GENERAL OPERATING SUPPORT

• SAINT PAUL & MINNESOTA FOUNDATION

  $67,000

  2023 · MULTIPLE GRANTS FOR PROGRAMS, OPERATIONS, OR OTHER PURPOSES

• SAINT PAUL & MINNESOTA FOUNDATION

  $67,000

  2022 · MULTIPLE GRANTS FOR MULTIPLE PURPOSES

• MINNEAPOLIS FOUNDATION

  $50,000

  2023 · HUMAN SERVICES

• FAMILY HOUSING FUND

  $50,000

  2025 · EMERGING DEVELOPERS SUPPORT

• MINNEAPOLIS FOUNDATION

  $35,000

  2024 · HUMAN SERVICES

• MINNEAPOLIS FOUNDATION

  $30,000

  2022 · DONOR-RECOMMENDED, COMMUNITY & ECONOMIC DEVELOPMENT

• GREATER TWIN CITIES UNITED WAY

  $10,000

  2025 · PROGRAM COSTS

• SAINT PAUL & MINNESOTA FOUNDATION

  $0

  2025 · MULTIPLE GRANTS FOR MULTIPLE PURPOSES

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

Taxable family

From Schedule R Parts I, III and IV: entities that legally are the filer, and taxable partnerships, corporations and trusts it is related to. These record ownership and control, not shared board members or money.

Other IRS files