First Homes Properties

Organization Overview

First Homes Properties is located in Rochester, MN. The organization was established in 2001. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. First Homes Properties is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 12/2021, First Homes Properties generated $2.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.2% each year . All expenses for the organization totaled $992.2k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO PROVIDE OPPORTUNITIES FOR LOW AND MODERATE INCOME HOUSEHOLDS IN SOUTHEASTERN MINNESOTA COUNTIES TO SECURE HOUSING THAT IS DECENT AND AFFORDABLE.

Describe the Organization's Program Activity:

Part 3 - Line 4a

FIRST HOMES HAS BEEN A LEADER IN AFFORDABLE HOUSING DEVELOPMENT AND ASSOCIATED LENDING IN SOUTHEAST MINNESOTA SINCE 2000. FIRST HOMES HAS HELPED TO PRODUCE AND FINANCE MORE THAN 1,100 UNITS OF WORKFORCE HOUSING INCLUDING SINGLE FAMILY NEW CONSTRUCTION AND PURCHASE REHAB, COMMUNITY LAND TRUST, AND MULTI-FAMILY RENTAL PROJECTS.


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Board, Officers & Key Employees

Name (title)Compensation
Jennifer Woodford
Executive Director
$34,595
Natalie Jones
President
$0
Mike Becker
Vice President
$0
Tamsen Leimer
Treasurer
$0
Lisa Lundquist
Secretary
$0
Cate Callard
Trustee (until November 2021)
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$19,000
Government grants $294,666
All other contributions, gifts, grants, and similar amounts not included above$391,381
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$705,047
Total Program Service Revenue$1,377,503
Investment income $17,285
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $75,354
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $2,175,189

Grants Recieved

Over the last fiscal year, we have identified 2 grants that First Homes Properties has recieved totaling $54,000.

Awarding OrganizationAmount
Otto Bremer Trust

St Paul, MN

PURPOSE: GENERAL OPERATIONS

$35,000
Rochester Area Foundation

Rochester, MN

PURPOSE: PROGRAM SUPPORT

$19,000
View Grant Recipient Profile

Peer Organizations

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