MINNESOTA HOME OWNERSHIP CENTER

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1993

Legal Domicile

Principal Officer

ROXANNE YOUNG KIMBALL

Phone

6516599336

Tax Period

2024-01-01 to 2024-12-31

MINNESOTA HOME OWNERSHIP CENTER, founded in 1993, is a community nonprofit in the Housing & Shelter sector that reported $5.0M in total revenue in fiscal year 2024. Revenue surged 47% from the prior year, signaling strong growth momentum. Expenses of $4.3M left a modest 15% surplus.

Mission

THE MINNESOTA HOME OWNERSHIP CENTER PROMOTES AND ADVANCES SUCCESSFUL HOME OWNERSHIP IN MINNESOTA.

Program Service Accomplishments

Program 1

Expenses: $3,381,448 Revenue: $251,744

THE MINNESOTA HOME OWNERSHIP CENTER IS A NON-PROFIT INTERMEDIARY ORGANIZATION DEDICATED TO HELPING MINNESOTANS WITH LOW AND MODERATE INCOMES TO PURCHASE AND MAINTAIN HOMES. FUNDING ORGANIZATIONS...

THE MINNESOTA HOME OWNERSHIP CENTER IS A NON-PROFIT INTERMEDIARY ORGANIZATION DEDICATED TO HELPING MINNESOTANS WITH LOW AND MODERATE INCOMES TO PURCHASE AND MAINTAIN HOMES. FUNDING ORGANIZATIONS INCLUDE FOUNDATIONS, REAL ESTATE AND MORTGAGE FINANCE INSTITUTIONS, GOVERNMENT AGENCIES AND OTHER INDUSTRY STAKEHOLDERS DEDICATED TO INCREASING ACCESS AND OPPORTUNITY TO AFFORDABLE AND SUSTAINABLE HOME OWNERSHIP. AS AN INTERMEDIARY, THE CENTER PROVIDES TRAINING AND CERTIFICATION, CURRICULUM AND SUPPORT PRODUCTS, TECHNICAL ASSISTANCE, DATA COLLECTION TOOLS, FUNDING AND OVERSIGHT FOR A NETWORK OF MORE THAN 30COMMUNITY-BASED ORGANIZATIONS SERVING RESIDENTS OF MINNESOTA. THESE SERVICE DELIVERY PARTNERS PROVIDE COMPREHENSIVE HOMEOWNERS EDUCATION AND COUNSELING TO PROSPECTIVE AND EXISTING HOMEOWNERS WITH LOW AND MODERATE INCOMES. TARGET POPULATIONS INCLUDED PEOPLE OF COLOR, IMMIGRANTS, AND OTHERS WHO HAVE TRADITIONALLY HAD DIFFICULTY PURCHASING AND MAINTAINING HOMES.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $4,639,182

Program Service Revenue $203,883

Investment Income $130,906

Other Revenue $47,861

TOTAL REVENUE $5,021,832

Expense Breakdown

Grants Paid $585,000

Salaries & Benefits $1,389,639

Fundraising Expenses $39,563

Program Expenses $3,381,448

Other Expenses $2,277,036

TOTAL EXPENSES $4,279,245

Year-over-Year Comparison

	2024	2023	Change
Revenue	$5,021,832	$3,425,749	+0.5%
Expenses	$4,279,245	$3,939,560	+0.1%
Net Income	$742,587	$-513,811	-2.4%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✓ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✓ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$287,041

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BURCH KIRSTIN	BOARD MEMBER	0.20	Director	$0	$0	$0
BIPES ROBYN	PAST BOARD CHAIR	0.50	Officer Director	$0	$0	$0
CROSBY BRIAN	VICE CHAIR	0.20	Director	$0	$0	$0
COLEMAN AARICA	SECRETARY	0.50	Officer Director	$0	$0	$0
ERCHUL JIM	BOARD MEMBER	0.20	Director	$0	$0	$0
EL-SAWAF MOHAMMED	BOARD MEMBER	0.20	Director	$0	$0	$0
HEALY NANCY	BOARD MEMBER	0.20	Director	$0	$0	$0
PANNKUK PATTY	BOARD MEMBER	0.20	Director	$0	$0	$0
PORTER-NELSON DEAN	BOARD MEMBER	0.20	Director	$0	$0	$0
ROCKER JOHN	BOARD MEMBER	0.20	Director	$0	$0	$0
LINDSTROM DAVID	TREASURER	0.50	Officer Director	$0	$0	$0
MCDONALD DARCY	BOARD MEMBER	0.20	Director	$0	$0	$0
RAVERTY KEENAN	BOARD MEMBER	0.20	Director	$0	$0	$0
SOLIS ZUIKER VIRGINIA	BOARD MEMBER	0.20	Director	$0	$0	$0
SPELLMAN MATT	BOARD MEMBER	0.20	Director	$0	$0	$0
STEINHAGEN JULIE	BOARD MEMBER	0.20	Director	$0	$0	$0
TENG ROSE	BOARD MEMBER	0.20	Director	$0	$0	$0
THOMPSON JEN	BOARD CHAIR	0.50	Officer Director	$0	$0	$0
WILLS JEFF	BOARD MEMBER	0.20	Director	$0	$0	$0
GUGIN JULIE	PRESIDENT (FORMER)	40.00	Officer	$154,961	$29,074	$184,035
KIMBALL ROXANNE	PRESIDENT	40.00	Officer	$94,891	$8,115	$103,006
PEDERSON KAREN	ASSOCIATE DIRECTOR	40.00	Highest	$154,094	$15,595	$169,689
WALKER BROOKE	DIRECTOR	40.00	Highest	$113,650	$17,450	$131,100

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$5,021,832	$4,279,245	$15,340,082	$742,587
2023	$3,425,749	$3,939,560	$14,260,394	$-513,811
2022	$7,198,884	$8,555,682	$14,152,614	$-1,356,798
2021	$3,064,242	$4,099,660	$17,549,875	$-1,035,418
2020	$6,782,119	$6,239,074	$18,809,674	$543,045
2019	$5,794,090	$2,211,179	$16,870,602	$3,582,911
2018	$7,041,532	$2,739,295	$13,460,886	$4,302,237