Justine Petersen Housing And Reinvestment Corporation

EIN: 431769074 501(c)(3) Housing & Shelter

Saint Louis, MO

Total Revenue
$13,975,768
Total Expenses
$12,861,272
Total Assets
$86,298,350
Net Assets
$21,477,563
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1997
Legal Domicile
MO
Phone
3145332411
Tax Period
2024-01-01 to 2024-12-31

Justine Petersen Housing And Reinvestment Corporation, founded in 1997, is a mid-sized nonprofit in the Housing & Shelter sector that reported $14.0M in total revenue in fiscal year 2024. Revenue decreased 7% compared to the prior year. Expenses of $12.9M left a modest 8% surplus.

Mission

JUSTINE PETERSEN'S MISSION IS TO PROMOTE HOUSING, SAVINGS, AND ECONOMIC DEVELOPMENT OF LOW AND MODERATE INCOME FAMILIES TO BUILD ASSETS AND CREATE ENDURING CHANGE.

Program Service Accomplishments

Program 1
Expenses: $9,890,575 Revenue: $5,883,135

TECHNICAL ASSISTANCE AND LENDING TO SMALL BUSINESSES AND MICRO-ENTERPRISES. AS THE NATION'S LARGEST SBA MICRO-LOAN INTERMEDIARY, JUSTINE PETERSEN BORROWS MONEY DIRECTLY FROM THE SBA AND ORIGINATES...

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TECHNICAL ASSISTANCE AND LENDING TO SMALL BUSINESSES AND MICRO-ENTERPRISES. AS THE NATION'S LARGEST SBA MICRO-LOAN INTERMEDIARY, JUSTINE PETERSEN BORROWS MONEY DIRECTLY FROM THE SBA AND ORIGINATES MICRO-ENTERPRISE LOANS UNDER $50,000 IN ACCORDANCE WITH ITS OWN UNDERWRITING GUIDELINES TO SMALL BUSINESS OWNERS THAT MAY NOT BE ABLE TO SECURE CAPITAL ELSEWHERE. JUSTINE PETERSEN PARTICIPATES IN THE USDA INTERMEDIARY RELENDING PROGRAM FOR ITS RURAL LENDING. JUSTINE PETERSEN AND ITS SUBSIDIARY, GREAT RIVERS COMMUNITY CAPITAL, ARE BOTH TREASURY-CERTIFIED COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS (CDFI) AND ORIGINATE MICRO-ENTERPRISE AND SMALL BUSINESS LOANS. GEOGRAPHICALLY, JUSTINE PETERSEN/GREAT RIVERS CURRENTLY OFFER MICROENTERPRISE/SMALL BUSINESS LOANS IN 73 ILLINOIS AND 28 KANSAS COUNTIES AND THE ENTIRE STATE OF MISSOURI. IN 2024, JUSTINE PETERSEN AND ITS SUBSIDARY PROVIDED TECHNICAL ASSISTANCE AND ORIGINATED OVER $31.7 MILLION IN 857 MICRO-ENTERPRISE AND SMALL BUSINESS LOANS AND ORIGINATED OVER $1.2 MILLION IN 465 CONSUMER LOANS.

Program 2
Expenses: $1,773,454 Revenue: $0

HOUSING - AS A HUD CERTIFIED HOUSING COUNSELING AGENCY, COUNSELORS ASSIST LOW TO MODERATE INCOME FAMILIES AND INDIVIDUALS TO ADDRESS CREDIT AND OTHER BARRIERS TO PURCHASING OR REFINANCING A HOME...

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HOUSING - AS A HUD CERTIFIED HOUSING COUNSELING AGENCY, COUNSELORS ASSIST LOW TO MODERATE INCOME FAMILIES AND INDIVIDUALS TO ADDRESS CREDIT AND OTHER BARRIERS TO PURCHASING OR REFINANCING A HOME. JUSTINE PETERSEN IMPLEMENTS FINANCIAL COUNSELING, STRATEGIES AND PRODUCTS INCLUDING BUDGETING, FINANCIAL EDUCATION, LOAN COUNSELING AND HOMEBUYER EDUCATION TO ASSIST HOMEOWNERS STRUGGLING TO PAY THEIR MORTGAGES AND NEGOTIATING WITH THEIR LENDER.

Program 3
Expenses: $381,870 Revenue: $0

SAVINGS - JUSTINE PETERSEN BELIEVES THAT A STRONG CREDIT PROFILE IS ONE'S MOST IMPORTANT FINANCIAL ASSET AND OUR COUNSELORS TEACH HOW TO BUILD AND MAINTAIN A STRONG CREDIT PROFILE. IN 2024, 1,062...

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SAVINGS - JUSTINE PETERSEN BELIEVES THAT A STRONG CREDIT PROFILE IS ONE'S MOST IMPORTANT FINANCIAL ASSET AND OUR COUNSELORS TEACH HOW TO BUILD AND MAINTAIN A STRONG CREDIT PROFILE. IN 2024, 1,062 LOW- AND MODERATE-INCOME INDIVIDUALS PARTICIPATED IN JUSTINE PETERSEN'S CREDIT BUILDING SERVICES. AS A LEADER IN THE CREDIT BUILDING AND FINANCIAL CAPABILITY FIELD, JUSTINE PETERSEN TEACHES FINANCIAL COUNSELORS ACROSS THE COUNTRY HOW TO OFFER CREDIT BUILDING SERVICES THROUGH OUT CREDIT BUILDING NATION INITIATIVE.

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

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $8,092,633
Program Service Revenue $5,943,117
Investment Income $17,930
Other Revenue $-77,912
TOTAL REVENUE $13,975,768

Expense Breakdown

Grants Paid $0
Salaries & Benefits $4,018,401
Fundraising Expenses $253,330
Program Expenses $12,045,899
Other Expenses $8,842,871
TOTAL EXPENSES $12,861,272

Year-over-Year Comparison

2024 2023 Change
Revenue $13,975,768 $15,013,997 -0.1%
Expenses $12,861,272 $11,788,764 +0.1%
Net Income $1,114,496 $3,225,233 -0.7%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
4
Independent Members
4
Employees
60
Volunteers
23

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
5
$452,689
Total Directors
4
$0
Key Employees
0
$0
Highest Compensated
2
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ALLAN D IVIE IV TREASURER 3.0
Officer Director
$0 $0 $0
EDDIE DAVIS PRESIDENT 3.0
Officer Director
$0 $0 $0
ROCHELLE BEA SECRETARY 3.0
Officer Director
$0 $0 $0
ANGELA BURRAGE MEMBER 2.0
Director
$0 $0 $0
ROBERT BOYLE CHIEF EXECUTIVE OFFICER 40.0
Officer
$190,250 $15,386 $205,636
SHERI FLANIGAN-VAZQUEZ CHIEF OPERATING OFFICER 40.0
Officer
$230,250 $16,803 $247,053
AIDA RICHARDSON CHIEF LENDING OFFICER 40.0
Highest
$176,250 $15,088 $191,338
ERIC OSTERBERG DIRECTOR OR RESOURCE DEVELOPMENT / STAKEHOLDER ENGAGEMENT 40.0
Highest
$103,250 $0 $103,250
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 $13,975,768 $12,861,272 $86,298,350 $1,114,496
2023 $15,013,997 $11,788,764 $73,969,952 $3,225,233
2022 $9,337,876 $8,386,430 $59,242,834 $951,446
2021 $7,649,655 $5,817,969 $49,338,747 $1,831,686
2020 $12,413,368 $5,773,520 $54,488,467 $6,639,848
2019 $4,782,117 $5,550,635 $30,246,509 $-768,518
2018 $5,666,871 $5,571,441 $28,848,589 $95,430
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