Midwest Housing Initiatives Inc
- Assets
- $8.7m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Lincoln, NE
- Founding
- 03/2004
- Data as of
- 12/2021
- EIN
- 46-0468444
Organization Overview
Midwest Housing Initiatives Inc is located in Lincoln, NE. The organization was established in 2004. 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. Midwest Housing Initiatives Inc 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, Midwest Housing Initiatives Inc generated $1.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 37.5% each year . All expenses for the organization totaled $1.8m during the year ending 12/2021. While expenses have increased by 44.3% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
HELP PROVIDE DEVELOPMENT OF LOW-INCOME HOUSING
Describe the Organization's Program Activity:
Part 3 - Line 4a
HELP PROVIDE DEVELOPMENT OF LOW-INCOME HOUSING
HELP PROVIDE DEVELOPMENT OF LOW-INCOME HOUSING
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Corey Vandewege President | OfficerTrustee | $0 | |
Pamela Forster Secretary/tr | OfficerTrustee | $0 | |
Mark Graham Vice-Preside | OfficerTrustee | $0 | |
Nate Burnett Director | Trustee | $0 | |
Beverly Bradley Director | Trustee | $0 | |
Dean Graham Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $402,225 |
| All other contributions, gifts, grants, and similar amounts not included above | $715,972 |
| Noncash contributions included in lines 1a–1f | $640,722 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,118,197 |
| Total Program Service Revenue | $631,563 |
| Investment income | $2,319 |
| 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 | $1,732,566 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $922,314 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,872 |
| Fees for services: Accounting | $5,960 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $20,000 |
| Advertising and promotion | $0 |
| Office expenses | $322 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $183,212 |
| Travel | $72 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $65,753 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $309,068 |
| Insurance | $1,197 |
| All other expenses | $4,272 |
| Total functional expenses | $1,781,624 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $515,849 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $11,870 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $4,296,266 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $4,950 |
| Net Land, buildings, and equipment | $2,833,916 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,007,540 |
| Total assets | $8,670,391 |
| Accounts payable and accrued expenses | $24,477 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $3,345,466 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $317,790 |
| Total liabilities | $3,687,733 |
| Net assets without donor restrictions | $4,982,658 |
| Net assets with donor restrictions | $0 |
| 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 | $8,670,391 |
Grants Awarded
Over the last fiscal year, Midwest Housing Initiatives Inc has awarded $922,314 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
EAGLE FLATS PURPOSE: ACQUIRE LOW INC. HSG | $449,324 |
PORTER ESTATES PURPOSE: ACQUIRE LOW INC. HSG | $357,990 |
WILDERNESS FALLS II PURPOSE: ACQUIRE LOW INC. HSG | $115,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Brothers Redevelopment Inc Edgewater, CO | $28,566,111 | $21,890,998 |
Habitat For Humanity International Inc Omaha, NE | $36,900,454 | $19,457,975 |
North East Community Action Corporation Bowling Green, MO | $19,489,309 | $16,722,475 |
Habitat For Humanity International Inc Des Moines, IA | $24,118,438 | $12,529,342 |
South Of Market Mercy Housing Denver, CO | $1,397,293 | $161,294 |
Habitat For Humanity Of Kansas City Kansas City, MO | $24,127,378 | $10,262,500 |
Habitat For Humanity International Inc Glenwood Springs, CO | $10,815,473 | $6,555,105 |
24 1 Community Land Trust Pine Lawn, MO | $28,090,880 | $9,459,445 |
House Of David Preservation Inc Kansas City, MO | $38,466,144 | $5,021,226 |
Affordable Housing Network Inc Cedar Rapids, IA | $25,730,785 | $5,702,234 |
Anawim Housing Des Moines, IA | $12,399,814 | $6,675,013 |
Mercy Housing South East Denver, CO | $32,176,710 | $9,687,514 |