MIDWEST HOUSING DEVELOPMENT FUND I… - Form 990 Financial Data

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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

2000

Legal Domicile

Principal Officer

JASON MAIN

Phone

4023348899

Tax Period

2024-01-01 to 2024-12-31

MIDWEST HOUSING DEVELOPMENT FUND INC, founded in 2000, is a mid-sized nonprofit in the Philanthropy & Grantmaking sector that reported $11.8M in total revenue in fiscal year 2024. Revenue surged 104% from the prior year, signaling strong growth momentum. The organization ran a surplus of $9.4M, a strong 79% operating margin.

Mission

THE MISSION OF MIDWEST HOUSING DEVELOPMENT FUND IS TO PROMOTE SUSTAINABLE COMMUNITY DEVELOPMENT AND QUALITY OF LIFE IN THE MIDWEST BY PROVIDING RESOURCES FOR THE DEVELOPMENT OF AFFORDABLE HOUSING.

Program Service Accomplishments

Program 1

Expenses: $2,369,027 Revenue: $3,106,533

MIDWEST HOUSING DEVELOPMENT FUND HAS PROVIDED AND/OR FACILITATED FINANCING IN CONNECTION WITH DEVELOPMENT OF LOW AND MODERATE INCOME AND WORKFORCE HOUSING. SINCE THE ORGANIZATION'S INCEPTION, IT HAS MADE 316 LOANS TOTALING OVER $249 MILLION. THESE LOANS HELPED CREATE OVER 10,000 AFFORDABLE RENTAL HOUSING UNITS FOR INDIVIDUALS AND FAMILIES ACROSS THE MIDWEST. DURING THE YEAR ENDED DECEMBER 31, 2024, THE ORGANIZATION WAS ABLE TO PROVIDE OVER $50 MILLION BETWEEN 28 NEW LOANS TO HELP FINANCE AFFORDABLE HOUSING. MIDWEST HOUSING DEVELOPMENT FUND BEGAN PROVIDING AND FACILITATING FINANCING FOR AFFORDABLE, WORKFORCE HOUSING IN 2017. IN 2020 MHDF EXPANDED THE DEVELOPMENT SERVICES IN NEBRASKA TO THE METRO OMAHA IOWA COUNTIES. THESE TECHNICAL ASSISTANCE SERVICES ARE FOR AFFORDABLE AND WORKFORCE HOUSING AND THE INITIATIVE IS NAMED MIDWEST HOUSING RESOURCE NETWORK. THE MIDWEST HOUSING RESOURCE NETWORK FUNCTIONS CONTINUE THROUGH THE COMBINED EFFORTS OF NEBRASKA STRATEGIC HOUSING COUNCIL LED BY THE NEBRASKA INVESTMENT FINANCE AUTHORITY, THE NEBRASKA HOUSING DEVELOPERS' ASSOCIATION TECHNICAL ASSISTANCE, AND MIDWEST HOUSING DEVELOPMENT FUND DIRECT DEVELOPMENT SERVICES AND TECHNICAL ASSISTANCE TO DEVELOPERS, COMMUNITY LEADERS AND HOUSING STAKEHOLDERS. MHDF PARTICIPATES AS A MEMBER OF THE NEBRASKA STRATEGIC HOUSING COUNCIL CORE TEAM AND THE NEBRASKA HOUSING DEVELOPERS' ASSOCIATION BOARD OF DIRECTORS.

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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 $7,817,020

Program Service Revenue $3,106,533

Investment Income $877,780

Other Revenue $0

TOTAL REVENUE $11,801,333

Expense Breakdown

Grants Paid $43,633

Salaries & Benefits $1,066,973

Fundraising Expenses $0

Program Expenses $2,369,027

Other Expenses $1,313,263

TOTAL EXPENSES $2,423,869

Year-over-Year Comparison

	2024	2023	Change
Revenue	$11,801,333	$5,776,652	+1.0%
Expenses	$2,423,869	$1,853,460	+0.3%
Net Income	$9,377,464	$3,923,192	+1.4%

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

$868,669

Total Directors

$616,342

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAVID S FISHER	PRESIDENT	40.00	Officer Director	$568,436	$47,906	$616,342
MARK O'CONNOR	DIRECTOR	1.00	Director	$0	$0	$0
BARRY SANDSTROM	CHAIRPERSON	1.00	Officer Director	$0	$0	$0
MATTHEW CAVANAUGH	SECRETARY	1.00	Officer Director	$0	$0	$0
KRIS SADDORIS	DIRECTOR	1.00	Director	$0	$0	$0
VALERIE THOMPSON	DIRECTOR	1.00	Director	$0	$0	$0
DENA SHERILL	DIRECTOR	1.00	Director	$0	$0	$0
SCOTT P MOORE	DIRECTOR	1.00	Director	$0	$0	$0
TAMEKI GRANT	DIRECTOR	1.00	Director	$0	$0	$0
KIRK KELLNER	CHAIRPERSON	1.00	Officer Director	$0	$0	$0
LARA HUSKEY	EXECUTIVE VP/TREASURER/CFO	40.00	Officer	$210,747	$24,913	$252,327
PAULA KASLON	SENIOR LOAN OFFICER	40.00	Highest	$105,792	$26,623	$132,415

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	$11,801,333	$2,423,869	$96,332,678	$9,377,464
2023	$5,776,652	$1,853,460	$74,703,795	$3,923,192
2022	$5,284,967	$1,297,140	$56,720,605	$3,987,827
2021	$2,208,026	$1,266,183	$35,913,740	$941,843
2020	$1,975,078	$1,121,282	$33,263,492	$853,796
2019	$3,817,761	$890,718	$31,169,182	$2,927,043
2018	$1,380,293	$741,499	$22,591,062	$638,794

MIDWEST HOUSING DEVELOPMENT FUND INC