GREATER MINNESOTA HOUSING FUND Charity Report

Public IRS 990 nonprofit record

GREATER MINNESOTA HOUSING FUND

EIN 41-1836919 · Housing Development, Construction & Management (L20)

What they do

PLEASE SEE SCHEDULE O.FOUNDED IN 1996 BY THE MCKNIGHT FOUNDATION and BLANDIN FOUNDATION, GREATER MINNESOTA HOUSING FUND (GMHF) is A 501 (C)(3) NONPROFIT, CERTIFIED COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) WITH THE MISSION of SUPPORTING THE CREATION of STRONG COMMUNITIES and AFFORDABLE HOMES BY MAKING STRATEGIC INVESTMENTS and FORMING EFFECTIVE PARTNERSHIPS. GMHF PROVIDES LOANS, GRANTS and INVESTMENTS for THE CREATION and PRESERVATION of MULTIFAMILY RENTAL HOUSING and SINGLE-FAMILY HOMES, AS WELL AS MISSION-RELATED PROGRAM SERVICES SUCH AS CAPACITY-BUILDING TECHNICAL ASSISTANCE and GRANT MAKING. GMHF OPERATES EDUCATIONAL PROGRAMS, CONDUCTS RESEARCH and PROGRAM DEVELOPMENT ON AFFORDABLE HOUSING CHALLENGES and OPPORTUNITIES, CONDUCTS DEMONSTRATION PROJECTS, PILOTS NEW PROGRAMS and PRODUCTS, ADVOCATES for SYSTEMS CHANGE, and PROMOTES INCREASED LEVELS of PUBLIC and PRIVATE SUPPORT for THE CREATION and PRESERVATION of AFFORDABLE HOUSING IN MINNESOTA.

Before you give

Should I give to this charity?

Easy charity check

Look at where the money went

Of every $100 spent, about $83.00 was reported for mission work. Use the spending picture below and ask what results that work produced.

Plain answer: A tax form cannot prove that a charity is doing good. It can show how the charity says it spent its money—and point out questions you should ask.

Basic facts we verified

IRS warning checkNo IRS revocation warning appears in this data.

Money report from 2024The charity has a recent tax report to read.

They explain their jobThe charity tells us what it is trying to do.

They name their leaders23 people are listed in the latest report.

You can reach themThey list contact information, so you can ask questions.

Money made simple

36.51%of revenue went to mission work83.0% of expenses · Program services

$43.99spent for every $100 of revenueRevenue covered expenses this year.

7.48%of revenue went to management and office costs17.0% of expenses

$17.07in assets for every $1 spent this yearSome assets cannot be spent right away.

64.4%of its money came from giftsOther money may come from services or investments.

Ask these three easy questions

Who did you help? Ask for a recent story or report that shows real results.
What will my money do? Ask exactly what your gift will pay for.
Is this really the charity? Give only through its official website or confirmed phone number.

Pay context: The highest compensation shown in this filing is $400,864 for ANDREA BRENNAN (PRESIDENT/CEO BEGINNING). Compare pay with organizations of similar size and complexity.

Bottom line: Do not decide from a name, mission statement, or tax status alone. Look at where the money went, then ask what changed, who was helped, and what your gift will do. YouCanGiveBack does not endorse or grade organizations.

Money

Financial picture

Tax year 2024

A plain-language look at the latest Form 990 figures available. These numbers help you ask better questions; they do not, by themselves, rate whether a charity is good or bad.

$100revenue

How each $100 of revenue was used

The large number compares each expense with revenue. The smaller number shows its share of total expenses.

Total reported revenue$40,328,548

Mission workProgram services$14,724,11036.51% of revenue83.0% of expenses

ManagementOffice and general costs$3,017,1057.48% of revenue17.0% of expenses

FundraisingAsking for donations0.00% of revenue0.0% of expenses

Revenue left after expensesReported annual surplus$22,587,33356.01% of revenueShown in gray on the chart

Total expenses$17,741,21543.99% of revenue

Gray means reported revenue left after expenses for this filing year. It does not necessarily mean cash sitting in a bank account.

Has the pattern changed?

Colored bars = expense mix: how each year’s expenses were divided. Total expenses vs. revenue shows whether the charity spent less or more than it received. The current filing is first.

YearExpense mixDetails

2024CurrentExpense mix: 83.0% mission · 17.0% management · 0.0% fundraisingTotal expenses: 43.99% of revenue

2023Expense mix: 78.4% mission · 21.6% management · 0.0% fundraisingTotal expenses: 50.51% of revenue

2022Expense mix: 82.9% mission · 17.1% management · 0.0% fundraisingTotal expenses: 49.68% of revenue

2021Expense mix: 76.4% mission · 23.6% management · 0.0% fundraisingTotal expenses: 46.31% of revenue

2020Expense mix: 78.7% mission · 21.3% management · 0.0% fundraisingTotal expenses: 43.70% of revenue

2019Expense mix: 77.8% mission · 22.2% management · 0.0% fundraisingTotal expenses: 120.78% of revenue

2018Expense mix: 75.0% mission · 25.0% management · 0.0% fundraisingTotal expenses: 59.38% of revenue

2017Expense mix: 85.9% mission · 14.1% management · 0.0% fundraisingTotal expenses: 155.95% of revenue

Money in and money out

Revenue$40,328,548

Expenses$17,741,215

Annual surplus $22,587,333 Revenue was higher than expenses for this filing year.

Reported spending amounts

Mission work means the Form 990 category called program services. These are reported accounting categories—not an independent measurement of results.

Mission work (program services)$14,724,110 · 83.0% of expenses

Management and office costs$3,017,105 · 17.0% of expenses

See all reported dollar amounts

Revenue$40,328,548

Expenses$17,741,215

Assets$302,777,264

Income$157,177,023

Contributions$25,989,101

Mission work (program services)$14,724,110

Grants given$9,208,896

Average grant$45,589

Management and general$3,017,105

Executive compensation (total)$1,012,566

Stocks and bonds$35,813,121

Accounting fees$259,731

Investing fees$147,604

People

Leadership and board

Tax year 2024

Names, titles, time, and compensation below are reported by the organization on its Form 990.

People reported as paid

Person and titleCompensation

ANDREA BRENNANPRESIDENT/CEO BEGINNING · 40 hrs/week $400,864Base $308,858 · Other $92,006

BARBARA SPORLEINCHIEF OPERATING OFFICER · 40 hrs/week $322,969Base $218,684 · Other $104,285

JOHN ERRIGOMANAGING DIRECTOR OF EQUITY INVESTING · 40 hrs/week $292,281Base $228,084 · Other $64,197

JOHN ROCKERMANAGING DIRECTOR OF LENDING · 40 hrs/week $274,774Base $205,577 · Other $69,197

KYLE LARSONCHIEF FINANCIAL OFFICER · 40 hrs/week $268,977Base $235,422 · Other $33,555

ERIC MUSCHLERDIRECTOR OF HOUSING AND HEALTH EQUITY · 40 hrs/week $204,492Base $145,974 · Other $58,518

MATTHEW HOLLANDCONTROLLER · 40 hrs/week $190,147Base $131,994 · Other $58,153

PATRICK NESSHEADING HOME MINNESOTA FUNDERS COLLABORATIVE DIREC · 40 hrs/week $175,876Base $126,366 · Other $49,510

Compensation alone does not tell whether pay is reasonable. Consider the charity’s size, work, location, and results.

See everyone listed on the board or leadership roster (23)

ANDREA BRENNANPRESIDENT/CEO BEGINNING

BARBARA SPORLEINCHIEF OPERATING OFFICER

JOHN ERRIGOMANAGING DIRECTOR OF EQUITY INVESTING

JOHN ROCKERMANAGING DIRECTOR OF LENDING

KYLE LARSONCHIEF FINANCIAL OFFICER

ERIC MUSCHLERDIRECTOR OF HOUSING AND HEALTH EQUITY

MATTHEW HOLLANDCONTROLLER

PATRICK NESSHEADING HOME MINNESOTA FUNDERS COLLABORATIVE DIREC

JOSEPH ERRIGODIRECTOR

TODD PRAFKEBOARD VICE CHAIR

STEPHANIE KLINZINGDIRECTOR

STEPHANIE CUMMINGSBOARD CHAIR

ROSYMAR HJERMSTADDIRECTOR

NATALIE JONESDIRECTOR

NANCY VYSKOCILDIRECTOR

MITCHELL BERGDIRECTOR

KIM BRETHEIMDIRECTOR

JORGE PRINCEDIRECTOR

JENNIFER MENDOZADIRECTOR

DALE ROEMMICHDIRECTOR

CHERYL KEYBOARD SECRETARY & TREASURER

CHAR ROBERTSDIRECTOR

ANGELA LARSONDIRECTOR

About this charity

Recognized since: January 1996
Location: 2550UNIVERSITY AV W201S, ST PAUL, MN 55114-1052
County: Ramsey
In care of: BARB SPORLEIN
Primary officer: BARB SPORLEIN, CHIEF OPERATING OFFICER

How to reach them

WebsiteVisit the charity’s website Emailinfo@gmhf.com Phone(651) 221-1997

Filing and classification

Latest tax year: 2024
Tax period began: January 1, 2024
Return type: 990
Tax preparer: CLIFTONLARSONALLEN LLP
NTEE classification: Housing Development, Construction & Management (L20)
IRS tax category: Housing Development, Construction & Management
Grant-giving organization: Yes