GREATER MINNESOTA HOUSING FUND (EIN 411836919) - Form 990 Financial Analysis & Trantor Score

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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

1996

Legal Domicile

Principal Officer

ANDREA BRENNAN

Phone

6512211997

Tax Period

2023-01-01 to 2023-12-31

GREATER MINNESOTA HOUSING FUND, founded in 1996, is a mid-sized nonprofit in the Housing & Shelter sector that reported $21.1M in total revenue in fiscal year 2023. Revenue decreased 16% compared to the prior year. The organization ran a surplus of $10.5M, a strong 49% operating margin.

Mission

SUPPORTING THE CREATION AND PRESERVATION OF AFFORDABLE HOUSING IN GREATER MINNESOTA.

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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 (2023)

Revenue Breakdown

Contributions & Grants $13,314,955

Program Service Revenue $5,922,877

Investment Income $1,905,083

Other Revenue $0

TOTAL REVENUE $21,142,915

Expense Breakdown

Grants Paid $1,320,007

Salaries & Benefits $4,770,532

Fundraising Expenses $0

Program Expenses $8,372,160

Other Expenses $4,589,414

TOTAL EXPENSES $10,679,953

Year-over-Year Comparison

	2023	2022	Change
Revenue	$21,142,915	$25,043,112	-0.2%
Expenses	$10,679,953	$12,440,295	-0.1%
Net Income	$10,462,962	$12,602,817	-0.2%

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

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

$858,338

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
NANCY VYSKOCIL	CHAIR	2.00	Officer Director	$0	$0	$0
STEPHANIE CUMMINGS	VICE CHAIR	2.00	Officer Director	$0	$0	$0
MITCHELL BERG	DIRECTOR	2.00	Director	$0	$0	$0
KIM BRETHEIM	DIRECTOR	2.00	Director	$0	$0	$0
JOSEPH ERRIGO	DIRECTOR	2.00	Director	$0	$0	$0
ROSY HJERMSTAD	DIRECTOR	2.00	Director	$0	$0	$0
NATALIE JONES	DIRECTOR	2.00	Director	$0	$0	$0
CHERYL KEY	DIRECTOR	2.00	Director	$0	$0	$0
STEPHANIE KLINZING	DIRECTOR	2.00	Director	$0	$0	$0
ANGELA LARSON	DIRECTOR	2.00	Director	$0	$0	$0
JENNIFER MENDOZA	DIRECTOR	2.00	Director	$0	$0	$0
CHAR ROBERTS	DIRECTOR	2.00	Director	$0	$0	$0
DALE ROEMMICH	DIRECTOR	2.00	Director	$0	$0	$0
WARREN W HANSON	PRESIDENT/CEO THROUGH JUNE 2023	40.00	Officer	$207,229	$31,482	$238,711
ANDREA BRENNAN	PRESIDENT/CEO BEGINNING JUNE 2023	40.00	Officer	$162,307	$19,166	$181,473
KYLE LARSEN	CFO BEGINNING JULY 2023	40.00	Officer	$102,730	$13,319	$116,049
MOHAMED OMAR	CFO THROUGH JANUARY 2023	40.00	Officer	$34,704	$5,966	$40,670
BARBARA SPORLEIN	COO	40.00	Officer	$225,432	$56,003	$281,435
JOHN ERRIGO	MANAGING DIRECTOR OF EQUITY INVESTING	40.00	Highest	$207,425	$47,791	$255,216
JOHN ROCKER	MANAGING DIRECTOR OF LENDING	40.00	Highest	$208,759	$32,795	$241,554
ERIC MUSCHLER	DIRECTOR HOUSING & HEALTH EQUITY	40.00	Highest	$141,731	$43,712	$185,443
PATRICK NESS	HEADING HOME MINNESOTA FUNDERS COLLABORATIVE DIREC	40.00	Highest	$122,509	$37,704	$160,213
CATHERINE MCCARTHY	DIRECTOR OF CAPITAL DEVELOPMENT	40.00	Highest	$114,346	$49,215	$163,561

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	No data	No data	No data	No data
2023	$21,142,915	$10,679,953	$236,535,724	$10,462,962
2022	$25,043,112	$12,440,295	$217,893,047	$12,602,817
2021	$19,170,053	$8,877,055	$209,115,546	$10,292,998
2020	$16,987,939	$7,423,519	$158,889,987	$9,564,420
2019	$5,924,189	$7,155,121	$126,754,659	$-1,230,932
2018	$10,412,534	$6,183,238	$109,054,941	$4,229,296

GREATER MINNESOTA HOUSING FUND