Family Housing Fund
- Assets
- $55.8m
- Revenue
- $42.4m
- Investments
- $0.0
- Employees
- 7
- Location
- Minneapolis, MN
- Founding
- 10/1980
- Data as of
- 12/2021
- EIN
- 41-1380923
Organization Overview
Family Housing Fund is located in Minneapolis, MN. The organization was established in 1980. 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. As of 12/2021, Family Housing Fund employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Family Housing Fund 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, Family Housing Fund generated $42.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 49.0% each year . All expenses for the organization totaled $41.0m during the year ending 12/2021. While expenses have increased by 32.6% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Family Housing Fund has awarded 173 individual grants totaling $15,137,565. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO HELP THE AFFORDABLE HOUSING NETWORK ADAPT TO THE NEEDS OF FAMILIES IN COMPLEX AND CONSTANTLY CHANGING CONDITIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING 2021, THE FUND ENTERED INTO SUBRECIPIENT AGREEMENTS WITH MULTIPLE JURISDICTIONS TO DISTRIBUTE FEDERAL EMERGENCY RENTAL ASSISTANCE FUNDS TO ASSIST TENANTS AFFECTED BY THE COVID-19 PANDEMIC. THE FUND MANAGED A LANDLORD-BASED PROGRAM CALLED THE ZERO BALANCE PROJECT FOR FIVE JURISDICTIONS (MINNEAPOLIS, SAINT PAUL AND HENNEPIN, RAMSEY AND DAKOTA COUNTIES) THAT ALLOWED LANDLORDS TO SUBMIT MULTIPLE APPLICATIONS ON BEHALF OF TENANTS ALL AT ONCE. LANDLORDS WERE ABLE TO SUBMIT REQUIRED DOCUMENTATION (SUCH AS LEASE OR RENT LEDGER) BEFORE THE TENANTS PROVIDED THEIR REQUIRED DOCUMENTATION (SUCH AS INCOME). THIS PROVIDED GREATER EFFICIENCY FOR LANDLORDS WITH MULTIPLE BUILDINGS AND TENANTS AND EASED THE BURDEN FOR TENANTS WHO WERE IN FINANCIAL DISTRESS. THE FUND ALSO ADMINISTERED A TENANT BASED PROGRAM FOR DAKOTA COUNTY. RENTAL ASSISTANCE FOR TENANTS PROVIDED FROM THE ZERO BALANCE PROJECT IN 2021 TOTALED $27,520,227. RENTAL ASSISTANCE FOR TENANTS FROM THE DAKOTA COUNTY PROGRAM IN 2021 TOTALED $3,654,993.
INCREASE SUPPLY: THE OVERARCHING GOAL OF THE INCREASE SUPPLY PROGRAM AREA IS TO ENSURE A FULL RANGE OF HOUSING CHOICES ACROSS THE REGION BY INCREASING THE AVAILABLE SUPPLY OF AFFORDABLE HOUSING UNITS. TO ACCOMPLISH THIS, THE FUND LEADS AND COORDINATES ACTIVITIES RELATED TO THE NEW PRODUCTION AND PRESERVATION OF GOVERNMENT ASSISTED AND UNSUBSIDIZED AFFORDABLE HOUSING, IN PARTNERSHIP WITH PUBLIC AND PRIVATE PARTNERS.
EXPAND OPPORTUNITIES: THE OVERARCHING GOAL OF THE EXPAND OPPORTUNITIES PROGRAM AREA IS TO IMPROVE FAMILIES' ACCESS TO HEALTHY, AFFORDABLE HOMES THROUGHOUT THE REGION. TO ACCOMPLISH THIS, THE FUND LEADS AND COORDINATES ACTIVITIES THAT ADDRESS LIMITS TO FAMILIES' CHOICES IN HOUSING AND IMPROVE FAMILIES' INTERACTION WITH THE AFFORDABLE HOUSING SYSTEM, IN PARTNERSHIP WITH PUBLIC AND PRIVATE PARTNERS.
ACTIVATE MORE HOUSING CHAMPIONS: EXPENSES: $402,735, GRANTS: $32,523THE FUND EXPANDS PUBLIC UNDERSTANDING OF THE VALUE OF AFFORDABLE HOUSING AND PUBLIC WILL TO WORK TOGETHER TOWARD HOUSING SOLUTIONS IN THE CONTEXT OF A COMPREHENSIVE REGIONAL APPROACH THAT SERVES ALL COMMUNITIES AND THEIR RESIDENTS.OTHER: EXPENSES: $3,395,530, GRANTS: $200,000, REVENUE: $701,504THE FUND CONTINUES TO SERVE AS THE FISCAL SPONSOR FOR SEVERAL INITIATIVES TO END HOMELESSNESS. THE FUND ALSO CONTINUES TO WORK WITH LOCAL GOVERNMENTS, NONPROFIT ORGANIZATIONS, AND THE MORTGAGE COMPANY INDUSTRY TO HELP LOW AND MODERATE-INCOME FAMILIES BECOME SUCCESSFUL HOMEOWNERS. THE FUND MAINTAINS RESOURCES TO IDENTIFY EMERGING ISSUES THAT AFFECT THE AFFORDABLE HOUSING NETWORK AND TO HELP DEVELOP STRATEGIES TO ADDRESS THESE ISSUES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ellen K Sahli President | Officer | 40 | $218,454 |
Colleen Ebinger Vice President | Officer | 40 | $169,794 |
Jennifer Anderson Vice President/treasurer | OfficerTrustee | 3 | $0 |
Alene Tchourumoff Chairperson | OfficerTrustee | 2 | $0 |
John Quincy Vice President | OfficerTrustee | 3 | $0 |
Rebecca Noecker Vice President | OfficerTrustee | 3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Clifton Larson Allen Accounting & Administrative Services For | 12/30/21 | $2,840,908 |
Housing Link Grants & Consulting On Rental Property S | 12/30/21 | $191,321 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $34,825,964 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,821,498 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $41,647,462 |
| Total Program Service Revenue | $701,504 |
| Investment income | $4,890 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $42,355,449 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $4,794,523 |
| Grants and other assistance to domestic individuals. | $31,175,220 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $451,153 |
| Compensation of current officers, directors, key employees. | $122,219 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $444,410 |
| Pension plan accruals and contributions | $46,268 |
| Other employee benefits | $53,616 |
| Payroll taxes | $55,177 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $74,368 |
| Fees for services: Accounting | $109,305 |
| Fees for services: Lobbying | $84,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,790,098 |
| Advertising and promotion | $0 |
| Office expenses | $128,079 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $53,863 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $12,711 |
| Interest | $79,996 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $211,026 |
| Insurance | $51,246 |
| All other expenses | $750 |
| Total functional expenses | $41,030,004 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,458,662 |
| Savings and temporary cash investments | $13,135,249 |
| Pledges and grants receivable | $1,552,000 |
| Accounts receivable, net | $1,267,491 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $55,733 |
| Net Land, buildings, and equipment | $167,882 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $36,199,511 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $55,836,528 |
| Accounts payable and accrued expenses | $1,109,475 |
| Grants payable | $3,633,000 |
| Deferred revenue | $165,641 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $3,870,140 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $238,802 |
| Total liabilities | $9,017,058 |
| Net assets without donor restrictions | $41,628,323 |
| Net assets with donor restrictions | $5,191,147 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $55,836,528 |
Grants Awarded
Over the last fiscal year, Family Housing Fund has awarded $4,786,523 in support to 20 organizations.
| Grant Recipient | Amount |
|---|---|
LAND BANK TWIN CITIES PURPOSE: LENDING AND ACQUISITION CAPITAL | $1,750,000 |
Minneapolis, MN PURPOSE: GENERAL OPERATIONS, AFFORDABILITY AND DOWNPAYMENT ASSISTANCE | $873,000 |
Minneapolis, MN PURPOSE: LENDING AND ACQUISITION CAPITAL | $750,000 |
St Paul, MN PURPOSE: HOUSING STABILITY AND LITIGATION WORK | $325,000 |
Minneapolis, MN PURPOSE: SUPPORT HEALTH AND SAFETY LITIGATION | $250,000 |
St Paul, MN PURPOSE: HECAT | $175,000 |
Grants Recieved
Over the last fiscal year, we have identified 17 grants that Family Housing Fund has recieved totaling $10,974,225.
| Awarding Organization | Amount |
|---|---|
Bush Foundation St Paul, MN PURPOSE: TO HAVE FIRST-TIME HOME BUYERS FROM BIPOC COMMUNITIES BECOME OWNER-OCCUPANT LANDLORDS OF 2-4 UNIT PROPERTIES IN SAINT PAUL IN SEVERAL INNER RING SUBURBS | $4,000,000 |
Jp Morgan Chase Foundation New York, NY PURPOSE: IN SUPPORT OF NEIGHBORHOOD REVITALIZATION | $2,100,000 |
Mcknight Foundation Minneapolis, MN PURPOSE: FOR GENERAL OPERATING SUPPORT | $1,500,000 |
Mcknight Foundation Minneapolis, MN PURPOSE: FOR GENERAL OPERATING SUPPORT | $1,500,000 |
Jp Morgan Chase Foundation New York, NY PURPOSE: IN SUPPORT OF NEIGHBORHOOD REVITALIZATION | $700,000 |
Jp Morgan Chase Foundation New York, NY PURPOSE: IN SUPPORT OF NEIGHBORHOOD REVITALIZATION | $700,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Family Housing Fund Minneapolis, MN | $55,836,528 | $42,355,449 |
Aeon Minneapolis, MN | $205,354,447 | $34,369,814 |
Governmental And Educational Assistance Corporation Brooklyn Park, MN | $65,629,127 | $32,792,478 |
Habitat For Humanity International Inc St Paul, MN | $95,417,664 | $44,081,313 |
One Vision Clear Lake, IA | $49,722,327 | $26,134,344 |
Trellis Co Minneapolis, MN | $174,341,513 | $41,938,944 |
Integrated Community Services Inc Green Bay, WI | $950,571 | $23,339,700 |
Friendship Haven Inc Fort Dodge, IA | $50,931,455 | $22,390,428 |
Community Housing Corporation Of America Inc St Paul, MN | $54,692,887 | $61,922,441 |
Sholom Home East Inc St Paul, MN | $55,805,227 | $20,264,604 |
Homestead At Rochester Inc Eden Prairie, MN | $84,661,096 | $19,652,604 |
Jeremiah Program Minneapolis, MN | $39,745,824 | $13,376,447 |