2023-06-08T13:57:17-05:00 2022-12-31 920370318 REDPATH AND COMPANY LLC 4810 WHITE BEAR PARKWAY WHITE BEAR LAKE MN 55110 990 2022-01-01 411741817 MINNESOTA HOME OWNERSHIP CENTER MINN 6516599336 1000 PAYNE AVENUE ST PAUL MN 55130 JULIE GUGIN PRESIDENT 6516599336 2023-06-06 1 JULIE GUGIN 999009999 0 CRYSTAL M SANDER P02076308 6514267000 2023-06-06 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z JULIE GUGIN 1000 PAYNE AVENUE ST PAUL MN 55130 10255410 0 X WWW.HOCMN.ORG X 1993 MN HOME OWNERSHIP EDUCATION AND COUNSELING. 20 20 14 20 0 0 3804937 7376747 -1471076 -100554 711520 -94529 18861 17220 3064242 7198884 5000 0 0 0 1040263 1200245 23796 25540 31256 3030601 7329897 4099660 8555682 -1035418 -1356798 17549875 14152614 2037727 1289011 15512148 12863603 X THE MINNESOTA HOME OWNERSHIP CENTER PROMOTES AND ADVANCES SUCCESSFUL HOME OWNERSHIP IN MINNESOTA. 0 0 7825380 0 -83334 THE MINNESOTA HOME OWNERSHIP CENTER, A NOT-FOR-PROFIT ORGANIZATION, BELIEVES THAT EQUITABLE ACCESS TO HOMEOWNERSHIP IS ESSENTIAL TO STRONG COMMUNITIES AND CREATES OPPORTUNITIES FOR GENERATIONS TO COME. OUR MISSION IS TO PROMOTE AND ADVANCE SUCCESSFUL, SUSTAINED HOMEOWNERSHIP, WITH A FOCUS ON THE NEEDS OF LOW AND MODERATE-INCOME FAMILIES AND COMMUNITIES OF COLOR. THE CENTER PROVIDES A NETWORK OF COMMUNITY-BASED ORGANIZATIONS WITH THE TOOLS AND RESOURCES TO DELIVERY HOMEBUYER EDUCATION AND ADVISING, FINANCIAL COACHING, DELINQUENCY AND FORECLOSURE PREVENTION COUNSELING, AND OTHER SUPPORT TO HELP FAMILIES ACHIEVE AND SUSTAIN HOMEOWNERSHIP. IN ADDITION, THE CENTER DIRECTS A RANGE OF INITIATIVES AND ACTIVITIES WITH LENDERS, REALTORS, GOVERNMENT, NONPROFITS, AND OTHER INDUSTRY STAKEHOLDERS THAT ADVANCE HOMEOWNERSHIP AMONG THOSE FACING THE GREATEST BARRIERS. 7825380 1 1 0 1 0 0 0 0 1 0 1 0 1 0 0 1 1 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 48 0 1 14 1 0 0 0 0 0 0 0 0 0 0 0 0 X 20 20 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MN X THE ORGANIZATION 6516599336 1000 PAYNE AVENUE ST PAUL MN 55130 BEARD TARA BOARD MEMBER 0.20 X 0 0 0 BIPES ROBYN BOARD CHAIR 0.50 X X 0 0 0 COLEMAN AARICA BOARD MEMBER 0.20 X 0 0 0 CROSBY BRIAN SECRETARY 0.50 X X 0 0 0 ERCHUL JIM BOARD MEMBER 0.20 X 0 0 0 EL-SAWAF MOHAMMED BOARD MEMBER 0.20 X 0 0 0 HAPPE MIKE BOARD MEMBER 0.20 X 0 0 0 HEALY NANCY BOARD MEMBER 0.20 X 0 0 0 KIMBALL ROXANNE BOARD MEMBER 0.20 X 0 0 0 LINDSTROM DAVID TREASURER 0.20 X X 0 0 0 MCDONALD DARCY BOARD MEMBER 0.20 X 0 0 0 PANNKUK PATTY BOARD MEMBER 0.20 X 0 0 0 RAVERTY KEENAN BOARD MEMBER 0.20 X 0 0 0 ROCKER JOHN BOARD MEMBER 0.20 X 0 0 0 SOLIS ZUIKER VIRGINIA BOARD MEMBER 0.20 X 0 0 0 SPELLMAN MATT BOARD MEMBER 0.20 X 0 0 0 STEINHAGEN JULIE BOARD MEMBER 0.50 X 0 0 0 TENG ROSE BOARD MEMBER 0.20 X X 0 0 0 THOMPSON JEN VICE CHAIR 0.20 X 0 0 0 WREH-WILSON STEPHEN BOARD MEMBER 0.20 X 0 0 0 FATIMA MOORE BOARD MEMBER (PART YEAR) 0.20 X 0 0 0 KAYLA SCHUCHMAN BOARD MEMBER (PART YEAR) 0.20 X 0 0 0 GUGIN JULIE PRESIDENT 40.00 X 202929 0 16794 KAREN PEDERSON ASSOCIATE DIRECTOR 40.00 X 136623 0 11872 KIMBERLY SMITH-MOORE SENIOR DIRECTOR 40.00 X 106404 0 11016 445956 0 39682 3 0 1 0 TUNHEIM PARTNERS INC 8009 34TH AVE S STE 1100 MINNEAPOLIS MN 55425 CONSULTING 257534 CLIFTONLARSONALLEN LLP 220 SOUTH 6TH STREET SUITE 300 MINNEAPOLIS MN 55402 ACCOUNTING AND CONSULTING 160233 2 6813533 563214 7376747 FEES FOR SERVICE 541900 69518 69518 TRAINING FEES 541900 50525 50525 LOAN REPAYMENT 624200 9377 9377 FRAMEWORK HOMEOWNERSHI 541900 -229974 -229974 -100554 258395 258395 2700598 3053522 -352924 -352924 -352924 1324 3004 -1680 -1680 OTHER INCOME 900099 18900 18900 18900 7198884 -83334 0 -94529 219723 74706 140623 4394 782608 603179 179429 65882 44693 21189 59378 42867 16511 72654 50385 22022 247 10299 8256 2043 118483 80120 37985 378 37800 37800 25540 25540 77856 77856 593075 525747 67301 27 970 970 41271 27489 13653 129 83355 55099 27996 260 3058 1014 2039 5 12096 6045 6051 58885 39819 18878 188 9301 6289 2982 30 DIRECT ASSISTANCE 4357672 4357672 HOME OWNERSHIP COUNSELI 1872062 1872062 DUES AND SUBSCRIPTIONS 20391 12336 7997 58 STAFF RECRUITING AND DE 11600 3307 8293 21723 13325 8398 8555682 7825380 699046 31256 2485918 664069 1133942 743560 667866 796657 3004 0 42752 44085 557866 394487 173457 163379 10228048 9155950 2814888 2584914 17549875 14152614 805003 766420 1212972 522591 19752 0 2037727 1289011 X 14901315 12402092 610833 461511 15512148 12863603 17549875 14152614 -1356798 -1291747 0 X 0 1 X 1 1 1 X 1995403 1816017 5370155 3804937 7376747 20363259 1995403 1816017 5370155 3804937 7376747 20363259 868326 19494933 3396 145784 286444 214534 258395 908553 21271812 10010660 0.91650 0.88110 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 0 0 0 1 37800 0 0 37800 0 PART II-B, LINE 1: IN 2022, THE ORGANIZATION PARTNERED WITH ANOTHER ORGANIZATION TO HIRE A LOBBYIST. THE TWO ADOPTED AND FORWARDED A LEGISLATIVE AGENDA IN THE STATE LEGISLATURE. 0 1 X 112958 112958 0 97679 88750 8929 347229 192779 154450 163379 INVESTMENT IN JOINT VENTURE - FRAMEWORK HOMEOWNERSHIP, LLC 2584914 C 2584914 X 5910320 -1291747 78035 -1213712 7124032 77856 -3004 74852 7198884 8558865 78035 3004 81039 8477826 77856 77856 8555682 PART IV, LINE 2B: THE CENTER ENTERED INTO A FUNDS MANAGEMENT AGREEMENT WITH THE PLANNING GROUP REPRESENTING AFFORDABLE HOMES CONGRESS. THE CENTER MAINTAINED A CHECKING ACCOUNT, MAINTAINED ACCOUNTS PAYABLE AND ACCOUNTS RECEIVABLE, AND RECONCILED BANK STATEMENTS MONTHLY. AT NO TIME WILL MINNESOTA HOME OWNERSHIP CENTER BE OBLIGATED TO ADVANCE OR PROVIDE FUNDS TO SUPPORT THE PLANNING GROUP. PART X, LINE 2: A TAX EXPENSE OR BENEFIT FROM AN UNCERTAIN INCOME TAX POSITION (INCLUDING TAX-EXEMPT STATUS) MAY BE RECOGNIZED ONLY WHEN IT IS MORE LIKELY THAN NOT THAT THE POSITION WILL BE SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES. MANAGEMENT BELIEVES THE CENTER HAS NO UNCERTAIN INCOME TAX POSITIONS THAT WOULD RESULT IN AN ACCRUAL, EXPENSE OR BENEFIT UNDER THE MORE LIKELY THAN NOT STANDARD. PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD -3,004. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 3,004. PART XII, LINE 4B: COST OF GOODS SOLD REPORTED AS EXPENSE ON FINANCIAL STATEMENTS AND REPORTED IN INVENTORY SALES COST ON 990. PART XIII, LINE 2D: COST OF GOODS SOLD REPORTED AS EXPENSE ON FINANCIAL STATEMENTS AND REPORTED AS INVENTORY SALES COST ON 990. PART XI & PART XII THE CENTER ADOPTED THE PROVISIONS OF ASC 842, LEASES, USING THE MODIFIED RETROSPECTIVE APPROACH WITH JANUARY 1, 2022 AS THE DATE OF INITIAL ADOPTION. THE CENTER ELECTED THE PACKAGE OF PRACTICAL EXPEDIENTS PERMITTED UNDER THE TRANSITION GUIDANCE WITHIN THE NEW STANDARD, WHICH AMONG OTHER THINGS, ALLOWED THE CENTER TO CARRY FORWARD THE HISTORICAL LEASE CLASSIFICATION. ADOPTION OF THE NEW STANDARD DID NOT MATERIALLY IMPACT THE CENTER'S NET ASSETS OR CASH FLOWS. EFFECTIVE JANUARY 1, 2022, THE ORGANIZATION ADOPTED THE PROVISIONS OF ACCOUNTING STANDARDS UPDATE (ASU) 2020-07, NOT-FOR-PROFIT ENTITIES (TOPIC 958): PRESENTATION AND DISCLOSURES BY NOT-FOR-PROFIT ENTITIES FOR CONTRIBUTED NONFINANCIAL ASSETS. THE NEW GUIDANCE REQUIRES NONPROFIT ENTITIES TO PRESENT CONTRIBUTED NONFINANCIAL ASSETS AS A SEPARATE LINE ITEM IN THE STATEMENT OF ACTIVITIES, APART FROM CONTRIBUTIONS OF CASH OR OTHER FINANCIAL ASSETS. THE STANDARD ALSO INCREASES THE DISCLOSURE REQUIREMENTS AROUND CONTRIBUTED NONFINANCIAL ASSETS, INCLUDING DISAGGREGATING BY CATEGORY THE TYPES OF CONTRIBUTED NONFINANCIAL ASSETS A NONPROFIT ENTITY HAS RECEIVED. X 1 AMPLIFY DMC LLC 1375 ST ANTHONY AVENUE SUITE 201 SAINT PAUL MN 55105 GENERAL FUNDRAISING 0 0 25540 0 25540 MN X X 0 0 0 0 0 0 0 0 0 GUGIN JULIE PRESIDENT 202929 0 0 0 0 0 14206 0 2588 0 219723 0 0 0 FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE MAY EXERCISE THE AUTHORITY OF THE BOARD OF DIRECTORS IN THE MANAGEMENT OF THE AFFAIRS OF THE ORGANIZATION DURING INTERVALS BETWEEN MEETINGS OF THE BOARD OF DIRECTORS, SUBJECT AT ALL TIMES TO THE BYLAWS OF THE ORGANIZATION. FORM 990, PART VI, SECTION B, LINE 11B THE FINANCE COMMITTEE IS AUTHORIZED TO REVIEW AND RECOMMEND THE FORM 990 TO THE BOARD FOR APPROVAL. THE FORM IS SHARED WITH ALL BOARD MEMBERS VIA EMAIL. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, AT THE FIRST MEETING OF THE BOARD OF DIRECTORS, ALL BOARD MEMBERS AND EMPLOYEES COMPLETE A CONFLICT OF INTEREST STATEMENT AND DISCLOSURE OF BUSINESS AND FAMILY RELATIONSHIPS FORM. THE EXECUTIVE COMMITTEE REVIEWS ALL FORMS FOR POTENTIAL CONFLICTS OF INTEREST AND DETERMINES THE PROPER COURSE OF ACTION. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION IS BASED ON THE ROLES AND RESPONSIBILITIES OF EACH POSITION IN COMPARISON TO SIMILAR POSITIONS IN THE ORGANIZATION'S SALARY STUDY. JOB DESCRIPTIONS ARE UPDATED ANNUALLY. THE EXECUTIVE COMMITTEE DETERMINES THE SALARY OF THE PRESIDENT. THE PRESIDENT DETERMINES THE SALARY OF ALL OTHER EMPLOYEES PER THE TERMS OF THE ORGANIZATION'S COMPENSATION POLICY. THE ORGANIZATION'S BENEFITS PACKAGE IS DETERMINED BY THE EXECUTIVE COMMITTEE. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S BY-LAWS, ARTICLES OF INCORPORATION, CONFLICT OF INTEREST FORM, FORM 990 AND AUDITED FINANCIAL STATEMENTS ARE CONSIDERED PUBLIC DOCUMENTS. THE PRESIDENT MANAGES ALL REQUESTS FOR COPIES.