Nonprofit · EIN 41-1836919
GREATER MINNESOTA HOUSING FUND
Tax-exempt · ST PAUL, MN 55114
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $40,328,548 | $17,741,215 | $22,587,333 | $302,777,264 | $150,763,626 | $152,013,638 |
| December 31, 2023 | 990 | $21,142,915 | $10,679,953 | $10,462,962 | $236,535,724 | $108,235,790 | $128,299,934 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $25,989,101
- of which government grants
- $6,960,000
- Program service revenue
- $13,722,128
- Investment income
- $617,319
- Net gain from sales of assets
- -$456,581
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $1,911,817
- Compensation of officers, directors and key employees
- $992,810
- Other salaries and wages
- $3,441,227
- Salaries, compensation and benefits (total)
- $5,804,945
- Professional fundraising fees
- $0
- Legal fees
- $245,635
- Accounting fees
- $259,731
- Occupancy
- $208,880
- Travel
- $93,390
- Depreciation
- $33,724
- Program services (functional)
- $14,724,110
- Management and general (functional)
- $3,017,105
Balance sheet and other
- Total assets, start of year
- $236,535,724
- Total assets, end of year
- $302,777,264
- Total liabilities, end of year
- $150,763,626
- Net assets, end of year
- $152,013,638
- Land, buildings and equipment
- $88,958
- Publicly traded securities
- $35,813,121
- Net assets without donor restrictions
- $141,061,089
- Net assets with donor restrictions
- $10,952,549
- Gross receipts
- $157,177,023
- Employees
- 38
- Volunteers
- 15
- Year formed
- 1996
- State of legal domicile
- MN
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| ANDREA BRENNAN | PRESIDENT/CEO BEGINNING Officer | 40 | $308,858 | $92,006 |
| BARBARA SPORLEIN | CHIEF OPERATING OFFICER Officer | 40 | $218,684 | $104,285 |
| JOHN ERRIGO | MANAGING DIRECTOR OF EQUITY INVESTING Highest-paid employee | 40 | $228,084 | $64,197 |
| JOHN ROCKER | MANAGING DIRECTOR OF LENDING Highest-paid employee | 40 | $205,577 | $69,197 |
| KYLE LARSON | CHIEF FINANCIAL OFFICER Officer | 40 | $235,422 | $33,555 |
| ERIC MUSCHLER | DIRECTOR OF HOUSING AND HEALTH EQUITY Highest-paid employee | 40 | $145,974 | $58,518 |
| MATTHEW HOLLAND | CONTROLLER Highest-paid employee | 40 | $131,994 | $58,153 |
| PATRICK NESS | HEADING HOME MINNESOTA FUNDERS COLLABORATIVE DIREC Highest-paid employee | 40 | $126,366 | $49,510 |
| STEPHANIE CUMMINGS | BOARD CHAIR Trustee or director, Officer | 2 | $0 | $0 |
| TODD PRAFKE | BOARD VICE CHAIR Trustee or director, Officer | 2 | $0 | $0 |
| CHERYL KEY | BOARD SECRETARY & TREASURER Trustee or director, Officer | 2 | $0 | $0 |
| MITCHELL BERG | DIRECTOR Trustee or director | 2 | $0 | $0 |
| KIM BRETHEIM | DIRECTOR Trustee or director | 2 | $0 | $0 |
| JOSEPH ERRIGO | DIRECTOR Trustee or director | 2 | $0 | $0 |
| ROSYMAR HJERMSTAD | DIRECTOR Trustee or director | 2 | $0 | $0 |
8 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| NATALIE JONES | DIRECTOR Trustee or director | 2 | $0 |
| STEPHANIE KLINZING | DIRECTOR Trustee or director | 2 | $0 |
| ANGELA LARSON | DIRECTOR Trustee or director | 2 | $0 |
| JENNIFER MENDOZA | DIRECTOR Trustee or director | 2 | $0 |
| JORGE PRINCE | DIRECTOR Trustee or director | 2 | $0 |
| CHAR ROBERTS | DIRECTOR Trustee or director | 2 | $0 |
| DALE ROEMMICH | DIRECTOR Trustee or director | 2 | $0 |
| NANCY VYSKOCIL | DIRECTOR Trustee or director | 2 | $0 |
990 for the year ended December 31, 2023: 23 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| BARBARA SPORLEIN | COO Officer | 40 | $225,432 | $56,003 |
| JOHN ERRIGO | MANAGING DIRECTOR OF EQUITY INVESTING Highest-paid employee | 40 | $207,425 | $47,791 |
| JOHN ROCKER | MANAGING DIRECTOR OF LENDING Highest-paid employee | 40 | $208,759 | $32,795 |
| WARREN W HANSON | PRESIDENT/CEO THROUGH JUNE 2023 Officer | 40 | $207,229 | $31,482 |
| ERIC MUSCHLER | DIRECTOR HOUSING & HEALTH EQUITY Highest-paid employee | 40 | $141,731 | $43,712 |
| ANDREA BRENNAN | PRESIDENT/CEO BEGINNING JUNE 2023 Officer | 40 | $162,307 | $19,166 |
| CATHERINE MCCARTHY | DIRECTOR OF CAPITAL DEVELOPMENT Highest-paid employee | 40 | $114,346 | $49,215 |
| PATRICK NESS | HEADING HOME MINNESOTA FUNDERS COLLABORATIVE DIREC Highest-paid employee | 40 | $122,509 | $37,704 |
| KYLE LARSEN | CFO BEGINNING JULY 2023 Officer | 40 | $102,730 | $13,319 |
| MOHAMED OMAR | CFO THROUGH JANUARY 2023 Officer | 40 | $34,704 | $5,966 |
| NANCY VYSKOCIL | CHAIR Trustee or director, Officer | 2 | $0 | $0 |
| STEPHANIE CUMMINGS | VICE CHAIR Trustee or director, Officer | 2 | $0 | $0 |
| MITCHELL BERG | DIRECTOR Trustee or director | 2 | $0 | $0 |
| KIM BRETHEIM | DIRECTOR Trustee or director | 2 | $0 | $0 |
| JOSEPH ERRIGO | DIRECTOR Trustee or director | 2 | $0 | $0 |
| ROSY HJERMSTAD | DIRECTOR Trustee or director | 2 | $0 | $0 |
| NATALIE JONES | DIRECTOR Trustee or director | 2 | $0 | $0 |
| CHERYL KEY | DIRECTOR Trustee or director | 2 | $0 | $0 |
| STEPHANIE KLINZING | DIRECTOR Trustee or director | 2 | $0 | $0 |
| ANGELA LARSON | DIRECTOR Trustee or director | 2 | $0 | $0 |
| JENNIFER MENDOZA | DIRECTOR Trustee or director | 2 | $0 | $0 |
| CHAR ROBERTS | DIRECTOR Trustee or director | 2 | $0 | $0 |
| DALE ROEMMICH | DIRECTOR Trustee or director | 2 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 2550UNIVERSITY AV W201S, ST PAUL, MN 55114-1052
- Principal officer (990 for 2024)
- BARB SPORLEIN, 2550 UNIVERSITY AVE W 201-S, ST PAUL, MN 55114
- Signed the 990
- BARB SPORLEIN, CHIEF OPERATING OFFICER
- Phone
- (651) 221-1997
- Website
- WWW.GMHF.COM
- Return prepared by
- CLIFTONLARSONALLEN LLP
Mission
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.
Program accomplishments
- AFFORDABLE HOUSING LENDING: PLEASE SEE SCHEDULE O FOR THE DESCRIPTION OF AFFORDABLE HOUSING LENDING.GREATER MINNESOTA HOUSING FUND (GMHF) OPERATES A REVOLVING LOAN FUND AND ANNUALLY PROVIDES BETWEEN $80 MILLION AND $100 MILLION IN A VARIETY OF LOANS TO ASSIST AFFORDABLE HOUSING DEVELOPMENT ORGANIZATIONS CREATE OR PRESERVE APPROXIMATELY 1,000 PERMANENTLY AFFORDABLE MULTIFAMILY AND SINGLE-FAMILY HOMES. GMHF PROVIDES LOW-COST LOANS FOR PLANNING AND PREDEVELOPMENT, SITE ACQUISITION, CONSTRUCTION, REHABILITATION, TAX INCREMENT AND EQUITY-BRIDGE FINANCING, FIRST MORTGAGE LOANS, AND WORKING CAPITAL ENTERPRISE LEVEL LOANS FOR QUALIFIED AFFORDABLE HOUSING DEVELOPMENT ORGANIZATIONS. THESE LOANS ENSURE AFFORDABLE HOUSING DEVELOPERS HAVE THE CAPITAL NECESSARY TO UNDERTAKE HIGH-PRIORITY MULTIFAMILY AND SINGLE-FAMILY AFFORDABLE HOUSING REAL ESTATE DEVELOPMENTS IN COMMUNITIES THROUGHOUT MINNESOTA.Expenses $8,535,743 · revenue $13,015,728
- AFFORDABLE HOUSING PROGRAMS, PLANNING AND TECHNICAL ASSISTANCE: PLEASE SEE SCHEDULE O FOR THE DESCRIPTION OF GMHF'S AFFORDABLE HOUSING PROGRAMS, PLANNING AND TECHNICAL ASSISTANCE.MORE THAN JUST A LENDER, GREATER MINNESOTA HOUSING FUND IS KNOWN FOR ITS INNOVATION AND CREATIVE APPROACHES TO MINNESOTA'S AFFORDABLE HOUSING CHALLENGES:GRANTMAKING: GMHF AWARDS GRANTS TO A VARIETY OF INDIVIDUALS AND ORGANIZATIONS ACROSS THE STATE THAT ADVANCE THE GMHF PROGRAMS DESCRIBED BELOW AND FOR STRATEGIC AND SPECIALIZED OPPORTUNITIES SUCH AS AFFORDABLE HOUSING ADVOCACY, LEGAL SERVICES, TENANT ORGANIZING, HOMEBUYER AND DEVELOPER TRAINING, HOUSING RESEARCH, COMMUNITY-BASED PLANNING, CROSS-SECTOR COLLABORATION, LOCAL PLANNING, TECHNICAL ASSISTANCE, AND OTHER ACTIVITIES TO ADVANCE THE AFFORDABLE HOUSING AGENDA IN MINNESOTA.PROGRAMS AND INITIATIVES: GMHF IMPLEMENTS A SERIES OF PROGRAMS TO PROMOTE BEST PRACTICES IN THE AFFORDABLE HOUSING FIELD, INCLUDING:(A) EMERGING DEVELOPERS PROGRAM SUPPORTS EMERGING DEVELOPERS IN THEIR GROWTH AS AFFORDABLE HOUSING DEVELOPERS BY OFFERING GRANT FUNDING, TECHNICAL ASSISTANCE, AND TRAINING;(B) HOUSING & HEALTH EQUITY INITIATIVE LINKS HEALTHCARE ORGANIZATIONS WITH THE HOUSING COMMUNITY TO CREATE INVESTMENT AND INNOVATIVE HOUSING SOLUTIONS;(C) RURAL AND TRIBAL CAPACITY BUILDING BRINGS AFFORDABLE HOUSING FROM CONCEPT TO COMPLETION IN GREATER MN BY OFFERING TECHNICAL ASSISTANCE, PLANNING SUPPORT, AND GRANTS;(D) GREEN LENDING INITIATIVE SUPPORTS THE ELECTRIFICATION AND DECARBONIZATION OF EXISTING AND NEW AFFORDABLE HOUSING BY LEVERAGING LOCAL, STATE, AND FEDERAL RESOURCES AND OFFERING TECHNICAL ASSISTANCE, RESOURCE MATCHING, FINANCING, AND DEMONSTRATION PROJECTS;(E) SMALL NOAH PROGRAM SUPPORTS SMALL AND EMERGING LANDLORDS IN ACQUIRING AND PRESERVING NATURALLY OCCURRING AFFORDABLE UNITS THROUGHOUT MINNESOTA'S RURAL AND URBAN AREAS.GMHF SERVES AS FISCAL SPONSOR FOR THE HEADING HOME MINNESOTA FUNDERS COLLABORATIVE WHOSE PURPOSE IS TO ENGAGE PHILANTHROPY IN SUPPORTING STATE AND LOCAL PLANS TO END AND PREVENT HOMELESSNESS AND GREATER PRODUCTION OF PERMANENT SUPPORTIVE HOUSING WITH SERVICES.RESEARCH AND DEVELOPMENT: GMHF CONDUCTS RESEARCH ON BEST PRACTICES AND STRATEGIES IN AFFORDABLE HOUSING AND DEVELOPS DEMONSTRATION PROJECTS, AS WELL AS PILOT PROGRAMS AND INITIATIVES THAT CAN BE ADOPTED AND IMPLEMENTED STATEWIDE.Expenses $4,548,854 · grants $1,911,816 · revenue $381,292
- AFFORDABLE HOUSING INVESTING ACTIVITIES: PLEASE SEE SCHEDULE O FOR THE DESCRIPTION OF NOAH IMPACT FUND LLC (NIF) AND MINNESOTA EQUITY FUND (MEF).NOAH IMPACT FUND LLC (NIF), A NON-PROFIT SUBSIDIARY OF GMHF, WAS ORGANIZED IN 2017 TO PRESERVE EXISTING OLDER, MARKET RATE BUT AFFORDABLE CLASS B AND CLASS C RENTAL HOUSING AT RISK OF LOST AFFORDABILITY DUE TO UPSCALING BY INVESTORS. NIF'S ACTIVITIES ARE DESIGNED TO FURTHER THE CHARITABLE PURPOSE OF ITS PARENT, GMHF, BY RAISING SOCIAL IMPACT CAPITAL FROM FINANCIAL INSTITUTIONS, STATE AND LOCAL GOVERNMENT, AND PHILANTHROPY TO COMPETE IN THE RENTAL MARKET AND ACQUIRE UNSUBSIDIZED RENTAL HOUSING, THUS PRESERVING ITS AFFORDABILITY, ENSURING THAT IT CONTINUES TO ACCEPT SECTION 8 AND OTHER RENTAL ASSISTANCE, AND PREVENTING THE DISPLACEMENT OF LOWER-INCOME RESIDENTS. NOAH, OR NATURALLY OCCURRING AFFORDABLE HOUSING, IS THE LARGEST SOURCE OF AFFORDABLE HOUSING ACROSS THE COUNTRY. NIF RAISED $32.5 MILLION IN NOAH POOL I LLC (NP1), WHICH CLOSED ON JUNE 1, 2017. NP1 DEPLOYED $30.6 MILLION TO PRESERVE 701 NOAH UNITS. NIF'S ACTIVITIES WERE PAUSED FROM 2020 TO 2023 DUE TO THE COVID-19 PANDEMIC AND RELATED ECONOMIC DISRUPTIONS. NIF THEN RAISED $33.5 MILLION TO CAPITALIZE NOAH POOL II LLC (NP2). NP2 CLOSED ON MAY 31,2024 AND IS EXPECTED TO PRESERVE THE AFFORDABILITY OF 500+ NOAH UNITS.MINNESOTA EQUITY FUND, LLC, A NON-PROFIT SUBSIDIARY OF GMHF, WAS CREATED IN 2011 TO ASSEMBLE PRIVATE EQUITY CAPITAL FOR THE DEVELOPMENT AND PRESERVATION OF AFFORDABLE RENTAL HOUSING THROUGH THE SYNDICATION OF FEDERAL LOW-INCOME HOUSING TAX CREDITS (LIHTCS) AND, OCCASIONALLY, FEDERAL HISTORIC TAX CREDITS AND ENERGY-RELATED TAX CREDITS. THROUGH THE END OF 2024, MEF HAS FACILITATED THE INVESTMENT OF OVER $320 MILLION OF GROSS EQUITY IN 55 PROJECTS WITH 2,976 NEW AND PRESERVED UNITS IN MINNESOTA AND OTHER STATES THROUGH MULTI-INVESTOR AND SINGLE INVESTOR FUNDS. IN ADDITION TO FINANCING AFFORDABLE WORKFORCE HOUSING FOR FAMILIES AND INDIVIDUALS AND AFFORDABLE HOUSING FOR SENIORS, MEF HAS FUNDED PERMANENT SUPPORTIVE HOUSING WHICH COMBINES HOUSING AND SERVICES TO HELP STABILIZE FORMERLY HOMELESS PEOPLE WHO SUFFER FROM CHRONIC HEALTH PROBLEMS INCLUDING MENTAL ILLNESS AND SUBSTANCE USE DISORDERS, AND MAY OTHERWISE BE HARD TO HOUSE.Expenses $1,639,513 · revenue $325,108
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 41-1836919
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1996
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Housing and shelter (L20)
- Assets (IRS master file)
- $302,777,264
- Income (IRS master file)
- $157,177,023
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $40,328,548 | $17,741,215 | $302,777,264 | XML |
| 990 | December 2023 | $21,142,915 | $10,679,953 | $236,535,724 | XML |
| 990 | December 2022 | $25,043,112 | $12,440,295 | $217,893,047 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 2017 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 41-1836919).
Questions about GREATER MINNESOTA HOUSING FUND
- What is the EIN of GREATER MINNESOTA HOUSING FUND?
- The employer identification number (EIN) of GREATER MINNESOTA HOUSING FUND is 41-1836919.
- Is GREATER MINNESOTA HOUSING FUND tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1996.
- Are donations to GREATER MINNESOTA HOUSING FUND tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does GREATER MINNESOTA HOUSING FUND file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of GREATER MINNESOTA HOUSING FUND due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did GREATER MINNESOTA HOUSING FUND last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of GREATER MINNESOTA HOUSING FUND?
- The 990 for the year ended December 31, 2024 names BARB SPORLEIN.
- Who are the officers and directors of GREATER MINNESOTA HOUSING FUND?
- The 990 for the year ended December 31, 2024 lists 23 people; 8 received compensation from the organization, the highest $308,858 (ANDREA BRENNAN, PRESIDENT/CEO BEGINNING).
- How much revenue does GREATER MINNESOTA HOUSING FUND have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $40,328,548, expenses of $17,741,215 and total assets of $302,777,264 at year end.
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