Overview
What is First Homes Properties?
First Homes Properties, established in 2000, is a nonprofit organization based in Rochester, Minnesota. It has been committed to affordable housing development and associated lending in southeastern Minnesota, helping produce and finance over 1,100 units of workforce housing. Their mission is to offer decent and affordable housing opportunities for low and moderate-income households in the region. They've been active in various housing projects, including single-family new construction, purchase rehab, community land trust, and multi-family rental projects.
Official website here: www.firsthomes.org
Is First Homes Properties legitimate?
First Homes Properties is a legitimate nonprofit organization registered as a 501(c)(3) entity. First Homes Properties 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: $38,385
Professional Fundraising Fees: $0
Other Salaries and Wages: $228,365
For more financial information, click here
Official website here: www.firsthomes.org
What is the mission statement of First Homes Properties?
First Homes Properties is dedicated to offering opportunities for low-income and moderate-income households in certain areas of Minnesota to acquire suitable and affordable housing. Since its establishment in 2000, the organization has played a significant role in the development and financing of over 1,100 units of workforce housing, encompassing single-family new constructions, purchase rehabs, community land trusts, and multi-family rental projects. The primary goal of First Homes Properties is to make decent and affordable housing accessible to a wide range of income groups.
Official website here: www.firsthomes.org
Who is the CEO of First Homes Properties?
Jennifer Woodford is the Trustee of First Homes Properties.
Official website here: www.firsthomes.org
What is the revenue of First Homes Properties?
First Homes Properties's revenue in 2022 was $1,361,871.
Official website here: www.firsthomes.org
Who are the executives of First Homes Properties and what are their salaries?
There 14 volunteers at First Homes Properties.
Here are 15 key members and their salaries:
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- Compensation: $36,136
- Related: $108,409
- Other: $8,996
Official website here: www.firsthomes.org
Where can I find the form 990 for First Homes Properties?
First Homes Properties's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.firsthomes.org
Learn more at the official website: www.firsthomes.org
Mission Statement of First Homes Properties
First Homes Properties, a pioneering organization in affordable housing development, is committed to providing opportunities for low and moderate income households in certain counties of southeastern Minnesota. Their mission is to facilitate the acquisition of decent and affordable housing for this demographic, thereby enhancing their living standards. Since its inception in 2000, First Homes Properties has made significant strides in this field, having contributed to the production and financing of over 1,100 units of workforce housing. This portfolio encompasses a variety of projects, including single-family new constructions, purchase rehabs, community land trusts, and multi-family rental projects.
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Impact
October, 2024
First Homes Properties has significantly impacted the housing landscape in southeastern Minnesota by creating opportunities for low and moderate-income households to secure decent and affordable housing. Since its inception in 2000, the organization has emerged as a leader in affordable housing development, playing a crucial role in producing and financing over 1,100 units of workforce housing. This includes a diverse range of projects such as single-family new constructions, purchase rehabilitation, community land trusts, and multi-family rental developments.
By focusing on providing affordable housing solutions, First Homes Properties addresses the pressing need for accessible living options in the region. This work not only enhances the quality of life for residents but also contributes to the overall stability and growth of communities in southeastern Minnesota. Their commitment to fostering inclusive and sustainable housing options ensures that families and individuals have the opportunity to thrive in a supportive environment.
This information is meant to be a general summary of First Homes Properties. 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: $29,492
- Program Service Revenue: $669,456
- Gross Receipts: $1,361,871
Assets and Liabilities:
- Total Assets: $17,370,195
- Total Liabilities: $3,661,788
- Net Assets: $13,708,407
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CENTER STREET PROPERTI
Revenue
$399,213
COMMISSION REVENUE
Revenue
$210,076
OTHER INCOME
Revenue
$176,166
COMMUNITY LAND TRUST L
Revenue
$97,945
HOME SALE PROCEEDS
Revenue
-$99,744
Organization Details
Founding Year
2001
Phone
(507) 282-0203Principal Officer
Jennifer Woodford
Main Address
12 ELTON HILLS DRIVE NW, ROCHESTER, MN, 55901
Website
www.firsthomes.orgNTEE Category
Code: L20 - Housing
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