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PROVIDING HOMEOWNERSHIP EDUCATION AND ADVISING AS WELL AS RESIDENTIAL COMMUNITY LENDING PROGRAMS THROUGHOUT THE STATE OF MINNESOTA WITH A SPECIAL EMPHASIS ON THE TWIN CITIES METROPOLITAN REGION.
Source: IRS Form 990 (Tax Year 2024)
Source: IRS e-Filed Form 990 (from the IRS e-File system), Tax Year 2023
Total Revenue
▼$4.7M
Program Spending
54%
of total expenses go to program services
Total Contributions
$3.9M
Total Expenses
▼$2.2M
Total Assets
$22.6M
Total Liabilities
▼$2.6M
Net Assets
$20M
Officer Compensation
→$480.1K
Other Salaries
$789.3K
Investment Income
$252.6K
Fundraising
▼N/A
Source: USAspending.gov · Searched by organization name
Total Federal Funding
$8.3M
Awards Found
8
Department of the Treasury
$625K
PURPOSE: TO PROMOTE ECONOMIC REVITALIZATION AND COMMUNITY DEVELOPMENT THROUGH INVESTMENT IN AND FINANCIAL ASSISTANCE TO COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS (CDFIS). PLANNED ACTIVITIES: FINANCIAL ASSISTANCE MUST BE USED FOR FINANCIAL PRODUCTS, FINANCIAL SERVICES (REGULATED INSTITUTIONS ONLY), DEVELOPMENT SERVICES, LOAN LOSS RESERVES, AND CAPITAL RESERVES (REGULATED INSTITUTIONS ONLY), IN AN ELIGIBLE MARKET OR THE RECIPIENT’S APPROVED TARGET MARKET. END GOALS: THE GOAL OF THE FINANCIAL ASSISTANCE IS FOR CDFIS TO BUILD THEIR FINANCIAL CAPACITY TO LEND TO ELIGIBLE MARKETS AND/OR THEIR TARGET MARKETS, IN ORDER TO SERVE RURAL AND URBAN LOW INCOME PEOPLE, AND COMMUNITIES ACROSS THE NATION THAT LACK ADEQUATE ACCESS TO AFFORDABLE FINANCIAL PRODUCTS AND FINANCIAL SERVICES. BENEFICIARIES: PROFIT ORGANIZATION, PRIVATE NONPROFIT INSTITUTION/ORGANIZATION, OTHER PRIVATE INSTITUTION/ORGANIZATION INVESTMENT AREAS AND TARGETED POPULATIONS, AS DEFINED IN 12 C.F.R. 1805. SUBRECIPIENTS: THERE ARE NO SUBRECIPIENTS FOR THIS PROGRAM. BROADBAND: SPECIFIC ACTIVITIES RELATING TO BROADBAND USAGE ARE NOT KNOWN AT THE TIME OF AWARD. REASON/PURPOSE OF MODIFICATION: THE RIEGLE ACT (P.L. 103 325), THE STATUTE WHICH AUTHORIZES THE CDFI PROGRAM, REQUIRES THAT FINANCIAL ASSISTANCE AWARDS, INCLUDING BASE FINANCIAL ASSISTANCE (BASE FA), DISABILITY FUNDS FINANCIAL ASSISTANCE (DF FA), AND PERSISTENT POVERTY COUNTIES FINANCIAL ASSISTANCE (PPC FA), BE MATCHED WITH FUNDS FROM NON FEDERAL GOVERNMENT SOURCES AND COMPARABLE IN FORM AND VALUE TO THE FA AWARD. MODIFICATIONS WOULD BE REQUIRED IF THERE IS A CHANGE IN THE FORM AND/OR AMOUNT ORIGINALLY OBLIGATED FOR THE AWARD, BASED ON APPROVED MATCHING FUNDS. NOTE: MATCHING FUNDS ARE REQUIRED ONLY FOR ORGANIZATIONS APPLYING AS CATEGORY II/CORE FA APPLICANTS UNDER THE CDFI PROGRAM. MATCHING FUNDS ARE NOT REQUIRED FOR ANY NATIVE CDFI APPLICANTS OR HOUSING PRODUCTION FINANCIAL ASSISTANCE AWARDS (HP FA). ADDITIONALLY, MATCHING FUNDS ARE NOT REQUIRED FOR SMALL AND EMERGING CDFI ASSISTANCE (SECA) FA APPLICANTS AND HEALTHY FOOD FINANCING INITIATIVES (HFFI) FA APPLICANTS, PENDING FINAL FY 2025 APPROPRIATIONS LANGUAGE.
Department of the Treasury
$510K
PURPOSE: TO PROMOTE ECONOMIC REVITALIZATION AND COMMUNITY DEVELOPMENT THROUGH INVESTMENT IN AND FINANCIAL ASSISTANCE TO COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS (CDFIS). PLANNED ACTIVITIES: FINANCIAL ASSISTANCE MUST BE USED FOR FINANCIAL PRODUCTS, FINANCIAL SERVICES (REGULATED INSTITUTIONS ONLY), DEVELOPMENT SERVICES, LOAN LOSS RESERVES, AND CAPITAL RESERVES (REGULATED INSTITUTIONS ONLY), IN AN ELIGIBLE MARKET OR THE RECIPIENT’S APPROVED TARGET MARKET. END GOALS: THE GOAL OF THE FINANCIAL ASSISTANCE IS FOR CDFIS TO BUILD THEIR FINANCIAL CAPACITY TO LEND TO ELIGIBLE MARKETS AND/OR THEIR TARGET MARKETS, IN ORDER TO SERVE RURAL AND URBAN LOW INCOME PEOPLE, AND COMMUNITIES ACROSS THE NATION THAT LACK ADEQUATE ACCESS TO AFFORDABLE FINANCIAL PRODUCTS AND FINANCIAL SERVICES. BENEFICIARIES: PROFIT ORGANIZATION, PRIVATE NONPROFIT INSTITUTION/ORGANIZATION, OTHER PRIVATE INSTITUTION/ORGANIZATION INVESTMENT AREAS AND TARGETED POPULATIONS, AS DEFINED IN 12 C.F.R. 1805. SUBRECIPIENTS: THERE ARE NO SUBRECIPIENTS FOR THIS PROGRAM. BROADBAND: SPECIFIC ACTIVITIES RELATING TO BROADBAND USAGE ARE NOT KNOWN AT THE TIME OF AWARD. REASON/PURPOSE OF MODIFICATION: THE RIEGLE ACT (P.L. 103 325), THE STATUTE WHICH AUTHORIZES THE CDFI PROGRAM, REQUIRES THAT FINANCIAL ASSISTANCE AWARDS, INCLUDING BASE FINANCIAL ASSISTANCE (BASE FA), DISABILITY FUNDS FINANCIAL ASSISTANCE (DF FA), AND PERSISTENT POVERTY COUNTIES FINANCIAL ASSISTANCE (PPC FA), BE MATCHED WITH FUNDS FROM NON FEDERAL GOVERNMENT SOURCES AND COMPARABLE IN FORM AND VALUE TO THE FA AWARD. MODIFICATIONS WOULD BE REQUIRED IF THERE IS A CHANGE IN THE FORM AND/OR AMOUNT ORIGINALLY OBLIGATED FOR THE AWARD, BASED ON APPROVED MATCHING FUNDS. NOTE: MATCHING FUNDS ARE REQUIRED ONLY FOR ORGANIZATIONS APPLYING AS CATEGORY II/CORE FA APPLICANTS UNDER THE CDFI PROGRAM. MATCHING FUNDS ARE NOT REQUIRED FOR ANY NATIVE CDFI APPLICANTS OR HOUSING PRODUCTION FINANCIAL ASSISTANCE AWARDS (HP FA). ADDITIONALLY, MATCHING FUNDS ARE NOT REQUIRED FOR SMALL AND EMERGING CDFI ASSISTANCE (SECA) FA APPLICANTS AND HEALTHY FOOD FINANCING INITIATIVES (HFFI) FA APPLICANTS, PENDING FINAL FY 2025 APPROPRIATIONS LANGUAGE.
Source: Federal Audit Clearinghouse (fac.gov)
Total Audits
11
Clean Audits
7
Material Weakness
Yes
Noncompliance Issues
No
| Year | Status | Financial Report | Federal Expenditure | Low Risk | Accepted |
|---|---|---|---|---|---|
| 2025 | Material Weakness | Unmodified (Clean) | $2.2M | No | 2026-06-24 |
| 2024 | Material Weakness | Unmodified (Clean) | $2.4M | No | 2025-03-27 |
| 2023 | Material Weakness | Unmodified (Clean) | $3M | No | 2024-04-04 |
| 2023 | Material Weakness | Unmodified (Clean) | $3M | No | 2024-04-09 |
| 2022 | Clean | Unmodified (Clean) | $2.7M | Yes | 2023-07-04 |
| 2021 | Clean | Unmodified (Clean) | $2.2M | Yes | 2022-04-25 |
| 2020 | Clean | Unmodified (Clean) | $2.5M | Yes | 2021-07-14 |
| 2019 | Clean | Unmodified (Clean) | $2.3M | Yes | 2020-05-11 |
| 2018 | Clean | Unmodified (Clean) | $1.4M | Yes | 2019-04-15 |
| 2017 | Clean | Unmodified (Clean) | $2.1M | Yes | 2018-04-18 |
| 2016 | Clean | Unmodified (Clean) | $1.3M | No | 2017-04-06 |
Financial Report
Unmodified (Clean)
Federal Expenditure
$2.2M
Financial Report
Unmodified (Clean)
Federal Expenditure
$2.4M
Financial Report
Unmodified (Clean)
Federal Expenditure
$3M
Financial Report
Unmodified (Clean)
Federal Expenditure
$3M
Financial Report
Unmodified (Clean)
Federal Expenditure
$2.7M
Financial Report
Unmodified (Clean)
Federal Expenditure
$2.2M
Financial Report
Unmodified (Clean)
Federal Expenditure
$2.5M
Financial Report
Unmodified (Clean)
Federal Expenditure
$2.3M
Financial Report
Unmodified (Clean)
Federal Expenditure
$1.4M
Financial Report
Unmodified (Clean)
Federal Expenditure
$2.1M
Financial Report
Unmodified (Clean)
Federal Expenditure
$1.3M
Tax Year 2024 · Source: IRS e-Filed Form 990
Individuals serving as officers, directors, or trustees of the organization.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other |
|---|
Source: IRS Publication 78, Auto-Revocation List & e-Postcard Data
Tax-deductible contributions: Yes
Deductibility code: PC
Sources: IRS e-Filed Form 990 (XML) & ProPublica Nonprofit Explorer
Scroll →
| Year | Revenue | Contributions | Expenses | Assets | Net Assets |
|---|---|---|---|---|---|
| 2023IRS e-File | $4.7M | $3.9M | $2.2M | $22.6M | $20M |
| 2022 | $2.9M | $2.6M | $3.1M | $17.7M | $16.3M |
| 2021 | $11.8M | $11.4M | $7.2M | $22.3M | $19.1M |
| 2020 | $2.5M | $2.1M | $1.5M |
Sources: ProPublica Nonprofit Explorer & IRS e-File Index
Financial data: IRS e-Filed Form 990 (Tax Year 2023)
Leadership & compensation: IRS e-Filed Form 990, Part VII (Tax Year 2024)
Federal grants: USAspending.gov (live)
Organization info: IRS Business Master File
Tax-deductibility: IRS Publication 78
| Total |
|---|
| Jason Peterson | CEO | 39.8 | $156.1K | $0 | $22.4K | $178.5K |
| Kjirsten Johnson | CFO | 39.8 | $115.3K | $0 | $22.2K | $137.5K |
| Beth Hyser | Cpo | 38 | $98.2K | $0 | $6,005 | $104.2K |
| Katelyn Shehu | Treasurer | 2 | $0 | $0 | $0 | $0 |
| Joel Isenberger | Vice Chair | 2 | $0 | $0 | $0 | $0 |
| Mike Morrell | President | 2 | $0 | $0 | $0 | $0 |
| Mark Nettesheim | Chair | 2 | $0 | $0 | $0 | $0 |
| Krissi Mills | Vice President | 2 | $0 | $0 | $0 | $0 |
| Dave Zastrow | Secretary | 2 | $0 | $0 | $0 | $0 |
Jason Peterson
CEO
$178.5K
Hrs/Wk
39.8
Compensation
$156.1K
Related Orgs
$0
Other
$22.4K
Kjirsten Johnson
CFO
$137.5K
Hrs/Wk
39.8
Compensation
$115.3K
Related Orgs
$0
Other
$22.2K
Beth Hyser
Cpo
$104.2K
Hrs/Wk
38
Compensation
$98.2K
Related Orgs
$0
Other
$6,005
Katelyn Shehu
Treasurer
$0
Hrs/Wk
2
Compensation
$0
Related Orgs
$0
Other
$0
Joel Isenberger
Vice Chair
$0
Hrs/Wk
2
Compensation
$0
Related Orgs
$0
Other
$0
Mike Morrell
President
$0
Hrs/Wk
2
Compensation
$0
Related Orgs
$0
Other
$0
Mark Nettesheim
Chair
$0
Hrs/Wk
2
Compensation
$0
Related Orgs
$0
Other
$0
Krissi Mills
Vice President
$0
Hrs/Wk
2
Compensation
$0
Related Orgs
$0
Other
$0
Dave Zastrow
Secretary
$0
Hrs/Wk
2
Compensation
$0
Related Orgs
$0
Other
$0
Members of the governing board. Board members often serve without compensation.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other | Total |
|---|---|---|---|---|---|---|
| Ashlyn Crawford | Director | 1 | $0 | $0 | $0 | $0 |
| Brian Deppe | Director | 1 | $0 | $0 | $0 | $0 |
| Jen Jang | Director | 1 | $0 | $0 | $0 | $0 |
| Joe Chow | Director | 1.5 | $0 | $0 | $0 | $0 |
| Justin Houle | Director | 1.5 | $0 | $0 | $0 | $0 |
| Justine Logelin | Director | 1 |
Ashlyn Crawford
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Brian Deppe
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Jen Jang
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Joe Chow
| $17.6M |
| $14.2M |
| 2019 | $3.5M | $2.7M | $1.5M | $16.1M | $13.4M |
| 2018 | $2.9M | $2.5M | $1.9M | $14.2M | $11.5M |
| 2017 | $6M | $5.4M | $4M | $13.1M | $10.5M |
| 2016 | $4.1M | $3.7M | $2.2M | $12.6M | $8.7M |
| 2015 | $2.5M | $2.3M | $1.9M | $8.8M | $7M |
| 2014 | $1.3M | $1.1M | $952.5K | $8M | $6.4M |
| 2013 | $2M | $1.8M | $1.3M | $7.3M | $6M |
| 2012 | $1.3M | $1.1M | $1.2M | $6M | $5.3M |
| 2011 | $1.4M | $1.2M | $901.8K | $5.9M | $5.1M |
| 2021 | 990 | Data |
| 2020 | 990 | Data | PDF not yet published by IRS |
| 2019 | 990 | Data |
| 2018 | 990 | Data |
| 2017 | 990 | Data |
| 2016 | 990 | Data |
| 2015 | 990 | Data |
| 2014 | 990 | Data |
| 2013 | 990 | Data |
| 2012 | 990 | Data |
| 2011 | 990 | Data |
| 2010 | 990 | — |
| 2009 | 990 | — |
| 2008 | 990 | — |
| 2007 | 990 | — |
| 2006 | 990 | — |
| 2005 | 990 | — |
| 2004 | 990 | — |
| 2003 | 990 | — |
| 2002 | 990 | — |
| 2001 | 990 | — |
| $0 |
| $0 |
| $0 |
| $0 |
| Kaela Seay | Director | 1 | $0 | $0 | $0 | $0 |
| Kevin Knase | Director | 1 | $0 | $0 | $0 | $0 |
| Mai Lee Yang | Director | 1 | $0 | $0 | $0 | $0 |
| Mike Schokmiller | Director | 1 | $0 | $0 | $0 | $0 |
| Randy Nelson | Director | 1 | $0 | $0 | $0 | $0 |
| Sondra Breneman | Director | 1 | $0 | $0 | $0 | $0 |
| William Flowers | Director | 1 | $0 | $0 | $0 | $0 |
Director
$0
Hrs/Wk
1.5
Compensation
$0
Related Orgs
$0
Other
$0
Justin Houle
Director
$0
Hrs/Wk
1.5
Compensation
$0
Related Orgs
$0
Other
$0
Justine Logelin
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Kaela Seay
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Kevin Knase
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Mai Lee Yang
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Mike Schokmiller
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Randy Nelson
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
Sondra Breneman
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0
William Flowers
Director
$0
Hrs/Wk
1
Compensation
$0
Related Orgs
$0
Other
$0