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Midwest Minnesota Community Development Corporation
Midwest Minnesota Community Development Corporation reported $25.3 million in revenue and $16.6 million in expenses for calendar year 2024. Of every $100 it spent, $92.61 went to program services, $5.54 to management and general costs and $1.85 to fundraising. Its largest source of revenue was contributions and grants: 61.3% of the total. The highest compensation it reported for one person was $423,587 (PRESIDENT). 10 people received more than $100,000 in reportable compensation. Revenue rose 158% between 2019 and 2024. Source: Form 990, 2024.
Where $100 of spending went
Calendar year 2024 · Form 990, Part IX, line 25 · total expenses $17MFor context, the median across 479 covered community improvement & capacity building charities: $90.45 programs, $9.31 management, $0.24 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
Calendar year 2024 · Form 990, Part VIII · total revenue $25MThe 990 scorecard · same measures for every charity, no grades
| Measure | 2024 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 92.6% | 89.1% |
| Management & general Part IX 25(C) ÷ 25(A) | 5.5% | 9.2% |
| Fundraising Part IX 25(D) ÷ 25(A) | 1.9% | 0.2% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.02 | $0.00 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 61.3% | 80.1% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 2.8% | 14.9% |
| Program service revenue share Part VIII 2g ÷ 12 | 26.5% | 11.9% |
| Highest reported compensation Part VII-A, columns D–F | $423,587 | $291,103 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 2.55% | 1.49% |
| People paid over $100,000 Part VII, line 2 | 10 | 5 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 61.0 | 9.2 |
| Independent voting board members Part VI 1a–1b | 12 of 12 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
2024 · Form 990, Part III · the three largest programs by expenseAffordable housing lending: mmcdc provided 166 first time home buyer mortgage loans. We also provided 6 home purchase loans, 1 refinancing loans, 1 home improvement loans and 160 additional down-payment assistance loans to low-income people and places
Business development: mmcdc provided commercial and new markets tax credit loans totaling $5,109,460 in 2024. This investment is expected to create 18 new jobs. It also supports purchase, construction, or improvement of 57,633 square feet of commercial real estate. 76% of the dollars were invested in disadvantaged communities, 56% in rural communities, and 27% of the borrowers were minority, or low-income owned or controlled businesses
Highest reported compensation
2024 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| PRESIDENT Officer, 50.00 hrs/week | $358,337 | $0 | $65,250 | $423,587 |
| CHIEF FINANCIAL OFFICER Officer, 50.00 hrs/week | $169,979 | $0 | $8,499 | $178,478 |
| MGR NEW MARKET TAX CREDIT Highest compensated employee, 45.00 hrs/week | $129,344 | $0 | $32,026 | $161,370 |
| DEVELOPMENT OFFICER Highest compensated employee, 45.00 hrs/week | $127,979 | $0 | $26,749 | $154,728 |
| VP BUSINESS DEVELOPMENT Highest compensated employee, 45.00 hrs/week | $130,961 | $0 | $14,548 | $145,509 |
| VP MORTGAGE LENDING Highest compensated employee, 45.00 hrs/week | $134,649 | $0 | $10,252 | $144,901 |
| DIRECTOR OF HOUSING & RE Highest compensated employee, 45.00 hrs/week | $112,877 | $0 | $11,644 | $124,521 |
| DIRECTOR Director/trustee, 2.00 hrs/week | $12,750 | $0 | $0 | $12,750 |
10 people received more than $100,000 in reportable compensation from Midwest Minnesota Community Development Corporation (Part VII, line 2). Compensation of current officers, directors and key employees totaled $1.5M (Part IX, line 5).
6 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
2024 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b12 · 12 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2No
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4Yes
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bNo
- Employees Part I, line 544
- Volunteers Part I, line 625
Largest outside contractors
2024 · Form 990, Part VII, Section B · businesses only| RM THUNE LLC General contractor | $348,971 |
| COHN REZNICK Audit work for nmtc | $149,120 |
| NETWORK CENTER INC It work | $118,685 |
Individuals listed as contractors are left out. 4 contractors were paid more than $100,000 in all.
Private foundation grants it received
1 private foundation reported grants to Midwest Minnesota Community Development Corporation totaling $580K on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.
Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.
Correct a figure or respond
Every number above is copied from Midwest Minnesota Community Development Corporation's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Midwest Minnesota Community Development Corporation, you can publish a response that is linked from this page.
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Of every $100 Midwest Minnesota Community Development Corporation spent in 2024, $92.61 went to programs. The full breakdown, from its IRS Form 990:
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Similar-sized charities in this cause
- United Ways of CaliforniaSouth Pasadena, CA · revenue $25M · programs 94.2% · 2024
- Middle Georgia Community Action AgencyWarner Robins, GA · revenue $25M · programs 89.1% · FY2025
- Institute of Management AccountantsMontvale, NJ · revenue $25M · programs 75.8% · FY2025
- Greater Northwest Kansas Community FoundationBird City, KS · revenue $25M · programs 59.4% · 2024
- Florida Community Loan FundOrlando, FL · revenue $25M · programs 84.2% · FY2025
All community improvement & capacity building charities · Largest charities in Minnesota
Questions people ask
How much of Midwest Minnesota Community Development Corporation's spending goes to programs?
In calendar year 2024, Midwest Minnesota Community Development Corporation reported that 92.6% of its $16.6 million in expenses went to program services, 5.5% to management and general and 1.9% to fundraising (Form 990, Part IX).
How much does Midwest Minnesota Community Development Corporation pay its top executive?
The largest total compensation Midwest Minnesota Community Development Corporation reported for one person in calendar year 2024 was $423,587, for the role of PRESIDENT (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Midwest Minnesota Community Development Corporation get its money?
Of $25.3 million in revenue in calendar year 2024, 61.3% came from contributions and grants (including 2.8% from government grants) and 26.5% from program service revenue (Form 990, Part VIII).
Is Midwest Minnesota Community Development Corporation a registered charity?
The IRS lists EIN 41-0972298 as a 501(c)(3) organization (publicly supported organization (170(b)(1)(a)(vi))), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- 2024: Form 990 for calendar year 2024, object 202543089349303764 · read the filing · XML
- 2023: Form 990 for calendar year 2023, object 202433139349303843 · read the filing
- 2022: Form 990 for calendar year 2022, object 202303009349300320 · read the filing
- 2021: Form 990 for calendar year 2021, object 202203129349304215 · read the filing
- 2020: Form 990 for calendar year 2020, object 202112529349300011 · read the filing
- 2019: Form 990 for calendar year 2019, object 202033079349301293 · read the filing
All filings for EIN 41-0972298: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.