Overview
What is Habitat For Humanity Of Minnesota Inc?
Habitat for Humanity of Minnesota Inc, abbreviated as HFH-MN, is a renowned nonprofit organization based in St. Paul, Minnesota. Their primary mission is to promote affordable homeownership and community development. They accomplish this through various initiatives, including a loan program that serves as a secondary market for Habitat mortgages. As of June 30, 2022, HFH-MN has financed 965 mortgages, totaling $71 million, for Habitat affiliates. Over 2,700 Habitat homes have been sold to partner families in Minnesota since the late 1980s, with a collective principal balance exceeding $100 million. These homes are sold with zero-interest mortgages, and homeowner mortgage payments help build more Habitat homes. HFH-MN also manages the Habitat Minnesota Loan Fund, allowing them to act as a secondary lender for Minnesota Habitat mortgages. Affiliates pledge their homeowners' mortgages and monthly mortgage payments to the fund, receiving the cash value immediately. This cash is utilized to accelerate homebuilding, acquire land for large-scale projects, and leverage support from others. The pledged mortgages must be from homeowners with incomes at or below 80% of the median income at the time of family selection. In addition to their loan program, HFH-Mn advocates for affordable housing through public policy and advocacy efforts, training and technical assistance, and disaster recovery and response. Their goal is to create and preserve a sustainable network of affordable homeownership providers in Minnesota. With a workforce of 7 individuals, HFH-Mn is dedicated to bringing people together, building homes, community, and hope.
Official website here: www.hfhmn.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 87%, Three-Star out of Four Star rating.
Habitat For Humanity of Minnesota Inc has achieved a solid 87% rating from Charity Navigator, indicating strong performance in accountability and finance. The organization demonstrates a high level of transparency and governance, with an independent board and comprehensive policies in place to ensure ethical operations. Key financial metrics, including a program expense ratio of 84.87% and excellent fundraising efficiency, reflect a commitment to effectively utilizing resources for its mission.
The organization has received maximum scores in several critical areas such as board independence, audit processes, and the absence of material asset diversion. This level of oversight helps to build trust with donors and stakeholders, assuring them that funds are being managed responsibly. Additionally, the nonprofit maintains well-documented policies and practices, further enhancing its reputation and operational integrity.
While the organization is performing well overall, it is important for potential donors and volunteers to consider the context of the ratings and the competitive landscape of nonprofit organizations. Engaging with Habitat For Humanity of Minnesota Inc could provide significant community impact, especially given their strengths in financial management and accountability.
This AI summary has been generated from information found on Charity Navigator.
Is Habitat For Humanity Of Minnesota Inc legitimate?
Habitat For Humanity Of Minnesota Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Habitat For Humanity Of Minnesota Inc 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: $141,223
Professional Fundraising Fees: $0
Other Salaries and Wages: $218,556
For more financial information, click here
Official website here: www.hfhmn.org
What is the mission statement of Habitat For Humanity Of Minnesota Inc?
Habitat for Humanity of Minnesota Inc's mission is centered around bringing people together to build homes, foster community, and instill hope. Through advocacy, collaboration, and leadership, the organization advances the work of Minnesota's Habitat for Humanity affiliates to create and preserve affordable homeownership. Habitat for Humanity of Minnesota serves as a statewide resource development and support organization, advocating for and advancing the work of its affiliates. The organization focuses on systems change and strengthens the Habitat network in Minnesota, aiming for a thriving, sustainable, and efficient network of affordable homeownership providers. This is accomplished through four primary areas of focus: lending and grant programs, public policy and advocacy efforts, training and technical assistance, and disaster recovery and response.
Official website here: www.hfhmn.org
Who is the CEO of Habitat For Humanity Of Minnesota Inc?
Cristen Incitti is the Chair - Part Year of Habitat For Humanity Of Minnesota Inc. The CEO's salary of Habitat For Humanity Of Minnesota Inc is $119,882 and their total compensation is $130,562.
Official website here: www.hfhmn.org
What is the revenue of Habitat For Humanity Of Minnesota Inc?
Habitat For Humanity Of Minnesota Inc's revenue in 2022 was $2,293,890.
Official website here: www.hfhmn.org
Who are the executives of Habitat For Humanity Of Minnesota Inc and what are their salaries?
The average compensation at Habitat For Humanity Of Minnesota Inc during 2022 was $51,397. There are 7 employees and 74 volunteers at Habitat For Humanity Of Minnesota Inc.
Here are 19 key members and their salaries (Habitat For Humanity Of Minnesota Inc's CEO's salary is $119,882 and their total compensation is $130,562):
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- Compensation: $119,882
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- Other: $10,680
Official website here: www.hfhmn.org
Where can I find the form 990 for Habitat For Humanity Of Minnesota Inc?
Habitat For Humanity Of Minnesota Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.hfhmn.org
Learn more at the official website: www.hfhmn.org
Mission Statement of Habitat For Humanity Of Minnesota Inc
Habitat for Humanity of Minnesota Inc, abbreviated as Habitat Minnesota, is an organization that plays a pivotal role in advancing the work of Minnesota's Habitat for Humanity affiliates. Their mission is to bring people together, fostering a sense of community and hope through home construction. By leveraging advocacy, collaboration, and leadership, Habitat Minnesota strives to create and preserve affordable homeownership in Minnesota. They serve as a statewide resource development and support organization, focusing on systems change and strengthening the Habitat network in the state. Their goal is to establish a thriving, sustainable, and efficient network of affordable homeownership providers in Minnesota. This is achieved through four main lines of work: lending and grant programs, public policy and advocacy efforts, training and technical assistance, and disaster recovery and response.
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Impact
July, 2024
Habitat for Humanity of Minnesota Inc plays a crucial role in advancing affordable homeownership in Minnesota. By providing a secondary market for Habitat mortgages, they have financed 965 mortgages for affiliates, totaling $71 million in loan disbursements. Over 2,700 Habitat for Humanity homes have been sold to partner families in the state since the late 1980s, amounting to over $100 million in principal balances. These homes are sold with 0% interest or zero-equivalent mortgages, and homeowner mortgage payments are recycled to build more Habitat homes.
Through their lending and grant programs, public policy and advocacy efforts, training, technical assistance, and disaster recovery and response initiatives, Habitat for Humanity of Minnesota strengthens the Habitat network in the state. This work aims to create a sustainable and efficient network of affordable homeownership providers in Minnesota.
Furthermore, Habitat for Humanity of Minnesota offers down payment assistance in the form of a subordinate mortgage for homebuyers with incomes at or below 80% of the area median income, making their payments more affordable. As of June 30, 2022, $1 million has been disbursed for this purpose, further expanding access to affordable homeownership opportunities in the state.
This information is meant to be a general summary of Habitat For Humanity Of Minnesota Inc. 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: $2,640
- Program Service Revenue: $1,041,373
- Gross Receipts: $2,304,867
Assets and Liabilities:
- Total Assets: $30,111,691
- Total Liabilities: $26,707,291
- Net Assets: $3,404,400
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
DISCOUNT ON LOAN RECEI
Revenue
$539,152
LENDING & LOAN INTERES
Revenue
$337,385
AFFILIATE FEES
Revenue
$125,343
OTHER FEES
Revenue
$39,493
Organization Details
Founding Year
1997
Phone
(612) 331-4439Principal Officer
Cristen Incitti
Main Address
2171 UNIVERSITY AVENUE WEST, ST PAUL, MN, 55114
Website
www.hfhmn.orgNTEE Category
Code: L20 - Housing
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