Greater Minnesota Housing Fund
Greater Minnesota Housing Fund reported $40.3 million in revenue and $17.7 million in expenses for calendar year 2024. Of every $100 it spent, $82.99 went to program services, $17.01 to management and general costs and $0.00 to fundraising. Its largest source of revenue was contributions and grants: 64.4% of the total. Government grants made up 17.3%. The highest compensation it reported for one person was $400,864 (PRESIDENT/CEO BEGINNING). 18 people received more than $100,000 in reportable compensation. Revenue rose 581% between 2019 and 2024. Source: Form 990, 2024.
Where $100 of spending went
Calendar year 2024 · Form 990, Part IX, line 25 · total expenses $18MFor context, the median across 933 covered housing & shelter charities: $89.27 programs, $10.73 management, $0.00 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 $40MThe 990 scorecard · same measures for every charity, no grades
| Measure | 2024 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 83.0% | 87.5% |
| Management & general Part IX 25(C) ÷ 25(A) | 17.0% | 10.5% |
| Fundraising Part IX 25(D) ÷ 25(A) | 0.0% | 0.0% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.00 | $0.01 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 64.4% | 17.0% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 17.3% | 1.0% |
| Program service revenue share Part VIII 2g ÷ 12 | 34.0% | 66.2% |
| Highest reported compensation Part VII-A, columns D–F | $400,864 | $300,863 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 2.26% | 1.57% |
| People paid over $100,000 Part VII, line 2 | 18 | 5 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 102.8 | 10.0 |
| Independent voting board members Part VI 1a–1b | 15 of 15 | 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 expenseHighest 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/CEO BEGINNING Officer, 40.00 hrs/week | $308,858 | $0 | $92,006 | $400,864 |
| CHIEF OPERATING OFFICER Officer, 40.00 hrs/week | $218,684 | $0 | $104,285 | $322,969 |
| MANAGING DIRECTOR OF EQUITY INVESTING Highest compensated employee, 40.00 hrs/week | $228,084 | $0 | $64,197 | $292,281 |
| MANAGING DIRECTOR OF LENDING Highest compensated employee, 40.00 hrs/week | $205,577 | $0 | $69,197 | $274,774 |
| CHIEF FINANCIAL OFFICER Officer, 40.00 hrs/week | $235,422 | $0 | $33,555 | $268,977 |
| DIRECTOR OF HOUSING AND HEALTH EQUITY Highest compensated employee, 40.00 hrs/week | $145,974 | $0 | $58,518 | $204,492 |
| CONTROLLER Highest compensated employee, 40.00 hrs/week | $131,994 | $0 | $58,153 | $190,147 |
| HEADING HOME MINNESOTA FUNDERS COLLABORATIVE DIREC Highest compensated employee, 40.00 hrs/week | $126,366 | $0 | $49,510 | $175,876 |
18 people received more than $100,000 in reportable compensation from Greater Minnesota Housing Fund (Part VII, line 2). Compensation of current officers, directors and key employees totaled $993K (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–1b15 · 15 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 2Yes
- 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 538
- Volunteers Part I, line 615
Private foundation grants it received
9 private foundations reported grants to Greater Minnesota Housing Fund totaling $1.0M 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 Greater Minnesota Housing Fund's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Greater Minnesota Housing Fund, you can publish a response that is linked from this page.
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Of every $100 Greater Minnesota Housing Fund spent in 2024, $82.99 went to programs. The full breakdown, from its IRS Form 990:
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Similar-sized charities in this cause
- Twin LakesCincinnati, OH · revenue $40M · programs 96.1% · 2024
- Vermont Housing Finance AgencyBurlington, VT · revenue $40M · programs 98.1% · FY2025
- Community First FundLancaster, PA · revenue $40M · programs 84.5% · FY2025
- The Chapel Hill Residential Retirement CenterChapel Hill, NC · revenue $41M · programs 80.3% · 2024
- Venice Community Housing CorporationVenice, CA · revenue $40M · programs 91.4% · 2024
All housing & shelter charities · Largest charities in Minnesota
Questions people ask
How much of Greater Minnesota Housing Fund's spending goes to programs?
In calendar year 2024, Greater Minnesota Housing Fund reported that 83.0% of its $17.7 million in expenses went to program services, 17.0% to management and general and 0.0% to fundraising (Form 990, Part IX).
How much does Greater Minnesota Housing Fund pay its top executive?
The largest total compensation Greater Minnesota Housing Fund reported for one person in calendar year 2024 was $400,864, for the role of PRESIDENT/CEO BEGINNING (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Greater Minnesota Housing Fund get its money?
Of $40.3 million in revenue in calendar year 2024, 64.4% came from contributions and grants (including 17.3% from government grants) and 34.0% from program service revenue (Form 990, Part VIII).
Is Greater Minnesota Housing Fund a registered charity?
The IRS lists EIN 41-1836919 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 202532899349301713 · read the filing · XML
- 2023: Form 990 for calendar year 2023, object 202413169349303376 · read the filing
- 2022: Form 990 for calendar year 2022, object 202343109349302774 · read the filing
- 2021: Form 990 for calendar year 2021, object 202211389349300011 · read the filing
- 2020: Form 990 for calendar year 2020, object 202101309349301830 · read the filing
- 2019: Form 990 for calendar year 2019, object 202041889349302174 · read the filing
All filings for EIN 41-1836919: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.