Midwest Housing Equity Group
Midwest Housing Equity Group reported $20.7 million in revenue and $15.1 million in expenses for calendar year 2024. Of every $100 it spent, $85.88 went to program services, $14.12 to management and general costs and $0.00 to fundraising. Its largest source of revenue was program service revenue such as fees, sales and contracts: 94.2% of the total. The highest compensation it reported for one person was $1,220,752 (PRESIDENT AND CEO). 10 people received more than $100,000 in reportable compensation. Revenue rose 60% between 2019 and 2024. Source: Form 990, 2024.
Where $100 of spending went
Calendar year 2024 · Form 990, Part IX, line 25 · total expenses $15MFor 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 $21MThe 990 scorecard · same measures for every charity, no grades
| Measure | 2024 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 85.9% | 87.5% |
| Management & general Part IX 25(C) ÷ 25(A) | 14.1% | 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 | Not reported | $0.01 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 0.0% | 17.0% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 0.0% | 1.0% |
| Program service revenue share Part VIII 2g ÷ 12 | 94.2% | 66.2% |
| Highest reported compensation Part VII-A, columns D–F | $1,220,752 | $300,863 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 8.10% | 1.57% |
| People paid over $100,000 Part VII, line 2 | 10 | 5 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 56.6 | 10.0 |
| Independent voting board members Part VI 1a–1b | 7 of 8 | 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 expenseMidwest Housing Equity Group, inc. (mheg) provides acquisition, advisory and asset management services primarily by acting as the general partner of approximately 50 limited partnerships (the "funds") which invest equity capital in other partnerships or llcs formed to develop, own and operate affordable housing projects which are eligible for federal tax credits under section 42 of the internal revenue code. In addition to providing equity for these projects, mheg provides technical and advisory services to the partnerships for a fee.in 2024, mheg partnered with 40 developers to close over…
W-homes, llc was formed to develop and perform as the co-general partner in partnerships holding affordable housing which are eligible for federal tax credits under section 42 of the internal revenue code. Mheg is the sole member of w-homes. W-homes earns fees from services rendered in connection with the acquisition, development, and construction of affordable housing projects
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 AND CEO Director/trustee, officer, 40.00 hrs/week | $1,164,822 | $0 | $55,930 | $1,220,752 |
| CIO Officer, 40.00 hrs/week | $658,644 | $0 | $48,887 | $707,531 |
| CFO Officer, 40.00 hrs/week | $609,104 | $0 | $56,630 | $665,734 |
| COO Officer, 40.00 hrs/week | $621,336 | $0 | $42,705 | $664,041 |
| CHIEF ACQUISITIONS OFFICER Officer, 40.00 hrs/week | $493,768 | $0 | $44,034 | $537,802 |
| SENIOR VP OF ASSET MANAGEMENT Highest compensated employee, 40.00 hrs/week | $283,696 | $0 | $31,106 | $314,802 |
| VP OF ACQUISITIONS Highest compensated employee, 40.00 hrs/week | $267,606 | $0 | $44,852 | $312,458 |
| VP OF COMMUNITY INVESTMENTS Highest compensated employee, 40.00 hrs/week | $236,926 | $0 | $28,923 | $265,849 |
10 people received more than $100,000 in reportable compensation from Midwest Housing Equity Group (Part VII, line 2). Compensation of current officers, directors and key employees totaled $4.2M (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–1b8 · 7 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 557
Private foundation grants it received
1 private foundation reported grants to Midwest Housing Equity Group totaling $10,000 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 Housing Equity Group'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 Housing Equity Group, you can publish a response that is linked from this page.
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Of every $100 Midwest Housing Equity Group spent in 2024, $85.88 went to programs. The full breakdown, from its IRS Form 990:
Questions people ask
How much of Midwest Housing Equity Group's spending goes to programs?
In calendar year 2024, Midwest Housing Equity Group reported that 85.9% of its $15.1 million in expenses went to program services, 14.1% to management and general and 0.0% to fundraising (Form 990, Part IX).
How much does Midwest Housing Equity Group pay its top executive?
The largest total compensation Midwest Housing Equity Group reported for one person in calendar year 2024 was $1,220,752, for the role of PRESIDENT AND CEO (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Midwest Housing Equity Group get its money?
Of $20.7 million in revenue in calendar year 2024, 0.0% came from contributions and grants and 94.2% from program service revenue (Form 990, Part VIII).
Is Midwest Housing Equity Group a registered charity?
The IRS lists EIN 47-0767984 as a 501(c)(3) organization (publicly supported organization (509(a)(2))), 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 202541719349300314 · read the filing · XML
- 2023: Form 990 for calendar year 2023, object 202421629349301017 · read the filing
- 2022: Form 990 for calendar year 2022, object 202341679349300734 · read the filing
- 2021: Form 990 for calendar year 2021, object 202221659349300427 · read the filing
- 2020: Form 990 for calendar year 2020, object 202123099349303382 · read the filing
- 2019: Form 990 for calendar year 2019, object 202032659349301403 · read the filing
All filings for EIN 47-0767984: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.