Overview
What is Greater Metropolitan Housing Corporation?
Greater Metropolitan Housing Corporation is a nonprofit organization located in St. Paul, Minnesota. Their primary mission is to preserve, improve, and increase affordable housing for low and moderate-income individuals and families, contributing to neighborhood revitalization as well. They accomplish this by constructing and renovating single-family homes in inner-city Minneapolis, St. Paul, and various suburban communities. This initiative primarily targets first-time homebuyers with incomes below 80% of the median income. The homes built by the corporation not only provide affordable housing opportunities but also contribute to increased property values in the neighborhoods, generate additional tax revenue for the city and county, and create job opportunities during construction. The corporation's activities are also aimed at assisting communities with housing revitalization. Overall, Greater Metropolitan Housing Corporation plays a vital role in making housing more accessible and affordable for a significant portion of the population.
Official website here: www.gmhchousing.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% (Three-Star out of Four Stars)
Greater Metropolitan Housing Corporation has received an 81% rating from Charity Navigator, which categorizes it as a Three-Star nonprofit. This rating is based entirely on the organization's Accountability & Finance score, indicating a strong emphasis on financial integrity and transparency. The high score suggests that the organization is effectively managing its resources and adhering to best practices in governance.
The organization boasts a fully independent board, comprising 90% independent members, and has achieved perfect scores in several key areas, such as its audit and oversight committee and the absence of material diversion of assets. Additionally, it has implemented critical policies, including conflict of interest and whistleblower policies, which further demonstrate its commitment to ethical standards.
However, the rating does not encompass program effectiveness or impact, limiting the evaluation to financial and governance aspects alone. Potential donors or supporters may want to seek additional information regarding the organization's program outcomes and community impact to gain a holistic understanding of its effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Greater Metropolitan Housing Corporation legitimate?
Greater Metropolitan Housing Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Greater Metropolitan Housing Corporation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $132,880
Professional Fundraising Fees: $0
Other Salaries and Wages: $219,293
For more financial information, click here
Official website here: www.gmhchousing.org
What is the mission statement of Greater Metropolitan Housing Corporation?
The Greater Metropolitan Housing Corporation's mission is centered around preserving, improving, and increasing affordable housing options for low and moderate income individuals and families. The organization also assists communities with housing revitalization. In addition, they carry out demonstration projects. Their Single Family Homeownership Program involves building and renovating homes in various urban and suburban communities, primarily selling them to individuals with income levels below 80% of the median income and first-time homebuyers. This initiative provides numerous benefits, such as homeownership opportunities for those often excluded from the market, increased property values in neighborhoods, additional tax revenue, and construction jobs.
Official website here: www.gmhchousing.org
Who is the CEO of Greater Metropolitan Housing Corporation?
Eden Spencer is the President/Ceo - Beginning July of Greater Metropolitan Housing Corporation. The CEO's salary of Greater Metropolitan Housing Corporation is $26,831 and their total compensation is $27,957.
Official website here: www.gmhchousing.org
What is the revenue of Greater Metropolitan Housing Corporation?
Greater Metropolitan Housing Corporation's revenue in 2022 was $2,406,130.
Official website here: www.gmhchousing.org
Who are the executives of Greater Metropolitan Housing Corporation and what are their salaries?
The average compensation at Greater Metropolitan Housing Corporation during 2022 was $58,696. There are 6 employees and 11 volunteers at Greater Metropolitan Housing Corporation.
Here are 12 key members and their salaries (Greater Metropolitan Housing Corporation's CEO's salary is $26,831 and their total compensation is $27,957):
- Compensation: $98,283
- Related: $0
- Other: $6,640
- Compensation: $26,831
- Related: $0
- Other: $1,126
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
Official website here: www.gmhchousing.org
Where can I find the form 990 for Greater Metropolitan Housing Corporation?
Greater Metropolitan Housing Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.gmhchousing.org
Learn more at the official website: www.gmhchousing.org
Mission Statement of Greater Metropolitan Housing Corporation
Greater Metropolitan Housing Corporation, a nonprofit organization, is dedicated to preserving, improving, and increasing affordable housing for low and moderate-income individuals and families. Their mission extends beyond just providing housing; they also assist communities with housing revitalization. This corporation carries out demonstration projects to contribute to this cause.
In practical terms, Greater Metropolitan Housing Corporation constructs and renovates single-family homes in inner-city areas of Minneapolis, St. Paul, and various suburban communities. Most of these homes are sold to individuals whose income levels are at or below 80% of the median income, making homeownership an achievable goal for many who may have been previously excluded from the market. The corporation offers financing tools to ensure these homes remain affordable for their new owners.
The organization's work not only provides housing opportunities but also contributes to the stability and increased property values of neighborhoods. It generates additional tax revenue for local cities and counties. Furthermore, the construction process creates jobs, contributing to the local economy. By building homes in cooperation with various cities, counties, Minnesota Housing, and Neighborhood Development Corporations, Greater Metropolitan Housing Corporation plays a significant role in promoting affordable housing and community development.
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Impact
July, 2024
Greater Metropolitan Housing Corporation's impact is significant in preserving, improving, and increasing affordable housing for low and moderate-income individuals and families. Through their single-family homeownership program, GMHC builds and renovates homes in the inner-city of Minneapolis, St. Paul, and various suburban communities. These homes are primarily sold to individuals with incomes at or below 80% of the median income, focusing on first-time homebuyers.
By providing affordable homeownership opportunities to those often excluded from the ownership market, GMHC not only contributes to individual financial stability but also enhances property values in neighborhoods, generates additional tax revenue for the city and county, and creates jobs during construction. Their collaboration with various cities, counties, Minnesota Housing, and neighborhood development corporations helps in carrying out these housing revitalization efforts effectively.
This information is meant to be a general summary of Greater Metropolitan Housing Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $104
- Program Service Revenue: $1,959,656
- Gross Receipts: $2,406,130
Assets and Liabilities:
- Total Assets: $5,839,980
- Total Liabilities: $5,930,958
- Net Assets: -$90,978
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
REAL ESTATE SALES
Revenue
$1,837,500
PROJECT DEVELOPMENT FEES
Revenue
$94,749
INTEREST - PROGRAM LOANS
Revenue
$27,407
Organization Details
Founding Year
1970
Phone
(612) 339-0601Principal Officer
Eden Spencer
Main Address
970 RAYMOND AVE 201, ST PAUL, MN, 55114
Website
www.gmhchousing.orgNTEE Category
Code: L200 - Housing
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