LANSING, MI
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)MAGNET LENDING CORPORATION, founded in 2020, is a community nonprofit in the Community Improvement sector that reported $1.9M in total revenue in fiscal year 2024. Revenue fell 54% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $1.5M, a strong 79% operating margin.
MAGNET LENDING CORPORATION IS A MICHIGAN NONPROFIT FORMED TO PROMOTE COMMUNITY AND ECONOMIC DEVELOPMENT, THE CREATION OF WEALTH AND JOB OPPORTUNITIES, AND TO FACILITATE INVESTMENT OF PRIVATE AND PUBLIC CAPITAL IN THE FORM OF LOW-COST, FLEXIBLE FINANCIAL PRODUCTS, COUPLED WITH DEVELOPMENT SERVICES. MLC'S FINANCIAL PRODUCTS AND DEVELOPMENT SERVICES ARE DESIGNED TO CREATE AND PRESERVE AFFORDABLE AND ATTAINABLE HOUSING, INVEST IN JOB-CREATING COMMUNITY-DRIVEN ECONOMIC DEVELOPMENT PROJECTS, AND PROMOTE THE ECONOMIC MOBILITY OF LOW- AND MODERATE INCOME RESIDENTS AND COMMUNITIES IN THE STATE OF MICHIGAN.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2024 | 2023 | Change | |
|---|---|---|---|
| Revenue | $1,930,996 | $4,238,819 | -0.5% |
| Expenses | $414,575 | $178,499 | +1.3% |
| Net Income | $1,516,421 | $4,060,320 | -0.6% |
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
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| ERIC HANNA | PRESIDENT & CEO; DIRECTOR | 2.00 |
Officer
Director
|
$0 | $39,267 | $304,886 |
| MARK MORANTE | CHAIRPERSON | 1.00 |
Officer
Director
|
$0 | $0 | $0 |
| MARY KING | VICE CHAIRPERSON | 1.00 |
Officer
Director
|
$0 | $0 | $0 |
| JAMIE SCHRINER | TREASURER | 1.00 |
Officer
Director
|
$0 | $0 | $0 |
| RICHARD HOSEY | SECRETARY | 1.00 |
Officer
Director
|
$0 | $0 | $0 |
| KARL DORSHIMER | DIRECTOR | 1.00 |
Director
|
$0 | $0 | $0 |
| MARK MCDANIEL | DIRECTOR | 1.00 |
Director
|
$0 | $0 | $0 |
| ELISSA SANGALLI | DIRECTOR | 1.00 |
Director
|
$0 | $0 | $0 |
| MARIA VENTURA | DIRECTOR | 1.00 |
Director
|
$0 | $0 | $0 |
| KARA WOOD | DIRECTOR | 1.00 |
Director
|
$0 | $0 | $0 |
| DOUG BARCY | DIRECTOR | 1.00 |
Director
|
$0 | $0 | $0 |
| JIM ANANICH | DIRECTOR | 1.00 |
Director
|
$0 | $0 | $0 |
| STEPHANIE OSTERLAND | DIRECTOR | 1.00 |
Director
|
$0 | $0 | $0 |
| BRAD HEFFNER | DIRECTOR | 1.00 |
Director
|
$0 | $0 | $0 |
| ADRIANNE JENKINS | CFO / COO | 4.00 |
Officer
|
$0 | $33,371 | $241,233 |
| MARILYN CHRUMKA | VICE PRESIDENT OF DEVELOPM | 1.00 |
Officer
|
$0 | $19,740 | $191,203 |
| ELISABETH ALEXANDRIAN | VICE PRESIDENT OF COMPLIAN | 10.00 |
Officer
|
$0 | $34,087 | $164,693 |
| BRANDON MILLER | DIRECTOR OF PROPERTY MAINT | 1.00 |
Officer
|
$0 | $28,496 | $155,900 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2024 | $1,930,996 | $414,575 | $13,606,021 | $1,516,421 |
| 2023 | $4,238,819 | $178,499 | $8,657,031 | $4,060,320 |
| 2022 | $157,066 | $3,488 | $2,903,549 | $153,578 |
| 2021 | $86,921 | $10,842 | $1,694,322 | $76,079 |
| 2020 | $15,000 | $771 | $1,673,500 | $14,229 |
Compare MAGNET LENDING CORPORATION with other nonprofits in Michigan and across the country.