Overview
What is West Hennepin Affordable Housing Land Trust?
West Hennepin Affordable Housing Land Trust, commonly known as Homes Within Reach (HWR), is a nonprofit organization established in 2001 with a mission to provide affordable homeownership opportunities for working-class families in suburban Hennepin County, Minnesota. By purchasing and rehabilitating properties, the trust enables low to moderate-income households to become homeowners, thereby stabilizing their lives and benefiting the local communities. The trust operates in 14 out of 44 suburban Hennepin County communities, with a total of 186 properties under its trust since its inception. HWR's endeavors have positively impacted 225 families, contributing to a more diverse and stable housing market by increasing the labor pool, adding new families to the community, and preserving existing housing stock. In 2022, HWR added 14 homes in eight communities and partnered with Hennepin County HRA to convert affordable rental units into affordable homeownership opportunities, setting a precedent for other Community Land Trusts across the nation.
Official website here: www.homeswithinreach.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 56% (One-Star out of Four Stars)
West Hennepin Affordable Housing Land Trust has received a One-Star rating from Charity Navigator, indicating significant concerns regarding its financial management and operational transparency. The organization demonstrates strong accountability in areas such as board independence and oversight practices, evidenced by perfect scores in those metrics. However, the overall financial health and program efficiency raise red flags, particularly with a low program expense ratio and high liabilities compared to assets.
The organization boasts full compliance with various governance policies, including conflict of interest and whistleblower protections. While these strengths reflect a commitment to ethical practices, the missing tax form on their website and a concerning liabilities to assets ratio suggest potential issues in financial sustainability and transparency that may affect donor trust.
Overall, while West Hennepin Affordable Housing Land Trust has established a solid governance framework, its financial challenges and low investment in programs could hinder its effectiveness in fulfilling its mission. Donors and stakeholders may want to consider these factors when evaluating their support for the organization.
This AI summary has been generated from information found on Charity Navigator.
Is West Hennepin Affordable Housing Land Trust legitimate?
West Hennepin Affordable Housing Land Trust is a legitimate nonprofit organization registered as a 501(c)(3) entity. West Hennepin Affordable Housing Land Trust 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: $99,150
Professional Fundraising Fees: $0
Other Salaries and Wages: $113,580
For more financial information, click here
Official website here: www.homeswithinreach.org
What is the mission statement of West Hennepin Affordable Housing Land Trust?
West Hennepin Affordable Housing Land Trust, often referred to as Homes Within Reach, was established in 2001 with a mission to serve the 44 suburban communities of Hennepin County. Their primary goal is to utilize the community land trust practice to provide affordable homeownership opportunities for working families who might otherwise be unable to purchase a home in the area. The organization aims to transform lives through homeownership, offering both communities and homebuyers the ability to sustain permanently affordable housing. The West Hennepin Affordable Housing Land Trust is currently active in fourteen communities, working tirelessly to ensure affordable homeownership remains within reach for those who need it most.
Official website here: www.homeswithinreach.org
Who is the CEO of West Hennepin Affordable Housing Land Trust?
Brenda Lano-Wolke is the President of West Hennepin Affordable Housing Land Trust.
Official website here: www.homeswithinreach.org
What is the revenue of West Hennepin Affordable Housing Land Trust?
West Hennepin Affordable Housing Land Trust's revenue in 2022 was $2,588,904.
Official website here: www.homeswithinreach.org
Who are the executives of West Hennepin Affordable Housing Land Trust and what are their salaries?
The average compensation at West Hennepin Affordable Housing Land Trust during 2022 was $70,910. There are 3 employees and 9 volunteers at West Hennepin Affordable Housing Land Trust.
Here are 9 key members and their salaries:
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- Compensation: $90,000
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- Other: $9,150
Official website here: www.homeswithinreach.org
Where can I find the form 990 for West Hennepin Affordable Housing Land Trust?
West Hennepin Affordable Housing Land Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.homeswithinreach.org
Learn more at the official website: www.homeswithinreach.org
Mission Statement of West Hennepin Affordable Housing Land Trust
West Hennepin Affordable Housing Land Trust, also known as Homes Within Reach, is a community land trust established in May 2001. Serving the 44 communities of suburban Hennepin County, this organization's vision is to transform lives through homeownership. Their mission, driven by the community land trust practice, is to provide affordable homeownership opportunities for working families who would otherwise be unable to purchase a home in suburban Hennepin County. By doing so, West Hennepin Affordable Housing Land Trust enables both communities and homebuyers to sustain permanently affordable homeownership.
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Impact
July, 2024
West Hennepin Affordable Housing Land Trust's impact can be seen in the provision of permanently affordable housing ownership opportunities for low to moderate-income families within suburban Hennepin County. By acquiring properties, rehabilitating them, and selling them to qualifying homebuyers, HWR ensures that housing remains affordable for workforce households in perpetuity. To date, the organization has placed 186 properties into its trust, assisting 225 families in purchasing homes. This initiative not only stabilizes lives but also enables greater community and economic participation while building assets for the families involved.
In 2022, HWR added 14 homes in 8 communities, including a partnership with Hennepin County HRA to acquire homes from a housing provider to convert them from affordable rental units to affordable homeownership opportunities. Additionally, the organization successfully acquired, rehabilitated, and resold four homes in Edina, a community with highly expensive real estate. This innovative model of preserving affordable homeownership opportunities in such neighborhoods has garnered attention from other Community Land Trusts across the nation.
Overall, the impact of West Hennepin Affordable Housing Land Trust, operating under the name Homes Within Reach, extends beyond providing housing. It is about empowering essential service providers in suburban Hennepin County – such as teachers, municipal workers, and medical support staff – to own homes in the communities where they work and live, thereby creating a sustainable and inclusive living environment for all.
This information is meant to be a general summary of West Hennepin Affordable Housing Land Trust. 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: -$777,412
- Program Service Revenue: $280,275
- Gross Receipts: $6,176,749
Assets and Liabilities:
- Total Assets: $25,109,895
- Total Liabilities: $5,483,856
- Net Assets: $19,626,039
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
DEVELOPER FEES
Revenue
$132,156
HOME BUYER CLOSING FEES
Revenue
$83,500
LAND LEASE FEES
Revenue
$64,087
MISCELLANEOUS
Revenue
$532
Organization Details
Founding Year
2001
Phone
(952) 401-7071Principal Officer
Brenda Lano-Wolke
Main Address
5100 THIMSEN AVENUE 120, MINNETONKA, MN, 55345
Website
www.homeswithinreach.orgNTEE Category
Code: L20 - Housing
If you are a representative of West Hennepin Affordable Housing Land Trust and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.