Overview
What is Midwest Housing Development Fund Inc?
Midwest Housing Development Fund Inc is a nonprofit organization, headquartered in Omaha, Nebraska, with a mission to promote sustainable community development and improve the quality of life in the Midwest region. Since its establishment, the organization has facilitated financing for over 250 low and moderate income housing projects, totaling over $150 million. These projects have resulted in the creation of over 8,100 affordable rental housing units. In 2022, the organization provided over $30 million in financing through 17 new loans. Midwest Housing Development Fund began its operations in 2017, focusing on affordable and workforce housing. The Nebraska Rural Workforce Housing Initiative was launched to address the housing needs of workforce populations in rural areas. This initiative resulted in three workforce housing loans for 56 housing units in various cities. In 2020, the organization expanded its development services to Metro Omaha, Iowa counties, providing technical assistance for affordable and workforce housing projects. The initiative, named Midwest Housing Resource Network, aims to assist with flood disaster recovery planning and direct technical assistance for housing development. The organization is currently assisting Sarpy and Dodge County communities with long-term disaster recovery plans and has provided over 50 direct technical assistance responses.
Official website here: www.mhdfinc.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 84% (Three-Star out of Four Stars)
Midwest Housing Development Fund Inc has received a Three-Star rating from Charity Navigator, reflecting a solid level of accountability and finance management. The charity's score is predominantly based on its accountability practices, showcasing a strong commitment to governance with 88% of its board members being independent. This independence, along with effective financial oversight, contributes to a high degree of transparency in its operations.
Strengths highlighted in the evaluation include a lack of material diversion of assets, comprehensive policies on conflicts of interest, whistleblower protections, and document retention practices, all receiving perfect scores. Furthermore, the organization excels in its program expenses, with nearly 94% of its total spending directed toward its programs, which indicates a strong commitment to its mission and effective use of resources.
However, the organization has room for improvement in its liabilities to assets ratio, which stands at 66.11%. This aspect could suggest potential financial vulnerabilities that may need addressing. Overall, while Midwest Housing Development Fund Inc demonstrates a robust framework for accountability, enhancing its financial stability could further strengthen its standing in the nonprofit sector.
This AI summary has been generated from information found on Charity Navigator.
Is Midwest Housing Development Fund Inc legitimate?
Midwest Housing Development Fund Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Midwest Housing Development Fund 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: $460,744
Professional Fundraising Fees: $0
Other Salaries and Wages: $87,190
For more financial information, click here
Official website here: www.mhdfinc.com
What is the mission statement of Midwest Housing Development Fund Inc?
The Midwest Housing Development Fund's mission is centered around promoting sustainable community development and enhancing the quality of life in the Midwest region. To achieve this, the organization provides resources for the development of affordable housing. Since its inception, it has made over 250 loans totaling over $150 million, which have helped create over 8,100 affordable rental housing units for individuals and families across the Midwest. In a recent year, the organization was able to provide over $30 million in financing through 17 new loans to support the development of affordable housing. The Nebraska Rural Workforce Housing Initiative was launched in 2017 to address the need for increasing and improving housing stock to attract and retain residents. This initiative resulted in three workforce housing loans for 56 housing units in various cities. In 2020, the Midwest Housing Development Fund expanded its development services to the Metro Omaha Iowa counties, offering technical assistance for affordable and workforce housing. The focus of this initiative, named the Midwest Housing Resource Network, is to assist with flood disaster recovery long-term planning and provide direct technical assistance for housing development.
Official website here: www.mhdfinc.com
Who is the CEO of Midwest Housing Development Fund Inc?
David S Fisher is the President of Midwest Housing Development Fund Inc.
Official website here: www.mhdfinc.com
What is the revenue of Midwest Housing Development Fund Inc?
Midwest Housing Development Fund Inc's revenue in 2022 was $5,284,967.
Official website here: www.mhdfinc.com
Who are the executives of Midwest Housing Development Fund Inc and what are their salaries?
The average compensation at Midwest Housing Development Fund Inc during 2022 was $182,645. There are 3 employees at Midwest Housing Development Fund Inc.
Here are 10 key members and their salaries:
- Compensation: $247,769
- Related: $0
- Other: $39,566
- Compensation: $182,892
- Related: $0
- Other: $18,215
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.mhdfinc.com
Where can I find the form 990 for Midwest Housing Development Fund Inc?
Midwest Housing Development Fund Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.mhdfinc.com
Learn more at the official website: www.mhdfinc.com
Mission Statement of Midwest Housing Development Fund Inc
Midwest Housing Development Fund Inc is dedicated to promoting sustainable community development and enhancing the quality of life in the Midwest United States. Their mission is to achieve this by providing resources for the development of affordable housing. The organization has been instrumental in facilitating financing for the creation of over 8,100 affordable rental housing units since its inception, making over 250 loans totaling over $150 million. In recent years, Midwest Housing Development Fund Inc has expanded its services to include technical assistance for affordable and workforce housing in Nebraska, aiming to address the housing needs of communities affected by disasters such as the 2019 floods. The Midwest Housing Resource Network, an initiative of the Fund, offers direct technical assistance responses to community representatives and developers, helping to plan long-term disaster recovery and facilitate housing development. This nonprofit organization is committed to improving living conditions and fostering sustainable community growth in the Midwest.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
July, 2024
Midwest Housing Development Fund Inc's impact can be seen in the significant contribution it has made towards promoting sustainable community development and enhancing the quality of life in the Midwest United States. Through its activities, the organization has facilitated the financing of over 8,100 affordable rental housing units, positively impacting numerous individuals and families across the region. With over $150 million in total loans disbursed since its inception, Midwest Housing Development Fund has been instrumental in addressing the critical need for affordable housing in the Midwest.
Furthermore, the organization's initiatives such as the Nebraska Rural Workforce Housing Initiative have specifically targeted the development of workforce housing to attract and retain residents in various communities. By providing technical assistance services and direct responses to housing development needs, Midwest Housing Development Fund has played a vital role in aiding communities in long-term disaster recovery planning and addressing housing challenges post natural disasters.
Overall, Midwest Housing Development Fund's commitment to fostering sustainable community development and providing resources for affordable housing underscores its significant impact on improving the living conditions and opportunities for individuals in the Midwest.
This information is meant to be a general summary of Midwest Housing Development Fund 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: $89,747
- Program Service Revenue: $1,451,297
- Gross Receipts: $5,284,967
Assets and Liabilities:
- Total Assets: $56,720,605
- Total Liabilities: $36,870,474
- Net Assets: $19,850,131
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST INCOME - LOAN
Revenue
$1,367,962
ORIGINATION FEE INCOME
Revenue
$76,005
MISCELLANEOUS
Revenue
$7,330
Organization Details
Founding Year
2000
Phone
(402) 334-8899Principal Officer
David S Fisher
Main Address
515 N 162ND AVE 202, OMAHA, NE, 68118
Website
www.mhdfinc.comNTEE Category
Code: T30 - Philanthropy
If you are a representative of Midwest Housing Development Fund Inc 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.