2011-11-15T09:39:25-06:00 2010-12-31 LARSONALLEN LLP 220 SOUTH SIXTH STREET SUITE 300 MINNEAPOLIS MN 55402 990 2010-01-01 411836919 GREATER MINNESOTA HOUSING FUND GREA 6512211997 332 MINNESOTA STREET NO 1201E ST PAUL MN 55101 WARREN HANSON 6512211997 2011-11-08 1 XIAOYAN LUO 6123764500 2010 2016-02-24 21:20:13Z WARREN HANSON 332 MINNESOTA STREET NO 1201E ST PAUL MN 55101 61992230 0 X WWW.GMHF.COM X 1996 MN SUPPORTING THE CREATION AND PRESERVATION OF AFFORDABLE HOUSING IN GREATER MINNESOTA. 15 15 14 15 0 0 7069540 13557046 413943 483846 969418 717695 87893 343315 8540794 15101902 1316671 1619438 0 0 1117979 1217500 0 0 0 4599991 7184648 7034641 10021586 1506153 5080316 61955868 67647930 9233868 9469907 52722000 58178023 X FOUNDED IN 1996 BY THE MCKNIGHT FOUNDATION AND THE BLANDIN FOUNDATION, GREATER MINNESOTA HOUSING FUND (GMHF) IS A NON-PROFIT, COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) WITH THE MISSION OF STRENGTHENING FAMILIES AND COMMUNITIES BY SUPPORTING THE CREATION AND PRESERVATION OF AFFORDABLE HOUSING FOR LOW- AND MODERATE-INCOME FAMILIES AND EMERGING MARKET POPULATIONS IN GREATER MINNESOTA. GMHF COMBINES SHORT-TERM FINANCING AND PERMANENT LOANS FOR SINGLE- AND MULTI-FAMILY HOUSING WITH TECHNICAL ASSISTANCE TO COMMUNITIES AND LOCAL DEVELOPERS TO PROMOTE THE CREATION OF AFFORDABLE HOUSING IN WELL-PLANNED AND SUSTAINABLE COMMUNITIES. 1 0 4880194 26300 483846 LENDING: GMHF LOANS, GRANTS AND TECHNICAL ASSISTANCE INCREASE THE PRODUCTION AND PRESERVATION OF SAFE, AFFORDABLE, HEALTHY HOUSING THROUGHOUT GREATER MINNESOTA. GMHF PROVIDES ZERO- AND LOW-INTEREST PERMANENT LOANS FOR AFFORDABLE RENTAL HOUSING DEVELOPMENTS AND PERMANENT SUPPORTIVE HOUSING PROJECTS. GMHF OFFERS GRANTS AND FORGIVABLE DOWN PAYMENT ASSISTANCE LOANS TO HELP LOW-INCOME FAMILIES PURCHASE SINGLE-FAMILY HOMES. GMHF IS ALSO A PRIMARY SOURCE FOR BELOW-MARKET INTERIM FINANCING THAT REDUCES THE COSTS OF AFFORDABLE HOUSING DEVELOPMENT. GMHF'S INTERIM LOAN POOL SUPPORTS CONSTRUCTION, LAND ACQUISITION/REHABILITATION, PRE-DEVELOPMENT AND LOW-INCOME HOUSING TAX CREDIT BRIDGE LOANS. 208439 175000 0 EMERGING MARKETS HOME OWNERSHIP INITIATIVE: GMHF IS LEADING A PILOT PROGRAM IN TARGETED AREAS OF GREATER MINNESOTA TO REDUCE SYSTEMIC BARRIERS TO HOMEOWNERSHIP BY INCREASING HOMEOWNERSHIP RATES AMONG LATINOS, AFRICAN IMMIGRANTS AND NATIVE AMERICANS. THE PROGRAM SUPPORTS LOCAL COMMUNITY LEADERS AS THEY WORK TOGETHER TO DELIVER CULTURALLY COMPETENT HOMEBUYER SERVICES, ADDRESS SYSTEMIC AND CULTURAL BARRIERS TO HOMEOWNERSHIP, AND CREATE REPLICABLE STRATEGIES THAT CAN BE SHARED WITH COMMUNITIES STATEWIDE. 162584 20983 0 FORECLOSURE PREVENTION: GMHF PROVIDES LARGE-SCALE FORECLOSURE PREVENTION FUNDING, AS WELL AS DEVELOPS AND ADMINISTERS FORECLOSURE RECOVERY PROGRAMS TO STABILIZE LOCAL COMMUNITIES HARD HIT BY FORECLOSURES. GMHF ASSEMBLES FUNDING RESOURCES FOR FORECLOSURE PREVENTION ACTIVITIES, RESEARCH AND POLICY DEVELOPMENT AND OPERATES THE NATIONAL COMMUNITY STABILIZATION TRUST (NCST) FOR 80 COUNTIES IN GREATER MINNESOTA. THE NCST PROGRAM OFFERS REO PROPERTIES BEFORE THEY ARE PLACED ON THE MARKET. GMHF WORKS WITH NONPROFIT AND GOVERNMENT AGENCIES STATEWIDE TO SHARE BEST PRACTICES AND PROVIDE FORECLOSURE RECOVERY TECHNICAL ASSISTANCE. 4179983 1397155 0 OTHER PROGRAMS - OTHER GMHF [ROGRAMS INCLUDE BUILDING BETTER NEIGHBORHOODS; MINNESOTA GREEN COMMUNITIES INITIATIVE; HOUSING REDEVELOPMENT CAPACITY BUILDING INITITATIVE; AND PUBLIC EDUCATION ACTIVITIES INCLUDING PORTRAITS OF HOME DOCUMENTARY PHOTOGRAPHY EXHIBIT. 4179983 1397155 9431200 1 1 0 1 0 0 0 0 0 1 0 1 0 0 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 24 0 1 14 1 0 0 0 0 0 0 0 0 0 0 0 X 15 15 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 MN X WARREN HANSON 6512211997 332 MINNESOTA STREET NO 1201E ST PAUL MN 55101 KAREL WEIGEL 2.00 X X 0 0 0 JAMES SOLEM 2.00 X X 0 0 0 JANE BARRETT 1.00 X 0 0 0 ROD BROWN 1.00 X 0 0 0 PETER CONNOR 1.00 X 0 0 0 STEPHANIE CUMMINGS 1.00 X 0 0 0 LEE HIMLE 1.00 X 0 0 0 STEPHANIE KLINZING 1.00 X 0 0 0 COLLEEN LANDKAMER 1.00 X 0 0 0 DUANE R LUND 1.00 X 0 0 0 STEVE O'NEIL 1.00 X 0 0 0 DALE ROEMMICH 1.00 X 0 0 0 RICHARD ROESLER 1.00 X 0 0 0 GEORGE STONE 1.00 X 0 0 0 NANCY VYSKOCIL 1.00 X 0 0 0 WARREN HANSON 40.00 X 183850 0 48807 CURT ENGELS 40.00 X 27717 0 0 AMY MCCULLOCH 40.00 X 86690 0 33243 298257 0 82050 1 0 1 0 SNI COMPANIES 5500 WAYZATA BLVD SUITE 910 GOLDEN VALLEY MN 55416 STAFFING - TEMPORARY 174902 FAMILY HOUSING FUND 801 NICOLLET MALL 1650 MINNEAPOLIS MN 55402 JOINT VENTURE STAFFING 120219 MESSERLI & KRAMER 1400 FIFTH STREET TOWERS MINNEAPOLIS MN 55402 LEGAL SERVICES 116932 GECKO GROUP 1472 IOWA AVENUE WEST ST PAUL MN 55108 CONSULTING - SOFTWARE 112310 4 13557046 13557046 INTERIM LOAN INTEREST 531390 293842 293842 GAP DEFERRAL INTEREST 531390 190004 190004 483846 776237 776237 46831786 46890328 -58542 -58542 -58542 LOAN COMMITMT/ORIG FEE 531390 149182 149182 MISCELLANEOUS INCOME 900099 146300 146300 ADMINISTRATION FEES 561000 44000 44000 3833 3833 343315 15101902 483846 0 1061010 1463551 1463551 155887 155887 380307 271372 108935 552173 417799 134374 57964 42454 15510 159005 116690 42315 68051 50223 17828 90699 90699 20602 20602 1365 1365 102886 102886 662500 621244 41256 46436 28131 18305 102689 75786 26903 54966 54966 463805 463805 13437 9917 3520 718 530 188 DISC/ALLOW LOANS & INT 5456011 5456011 PUBLIC INFORMATION 90074 90074 BOARD EXPENSES 50417 50417 MISCELLANEOUS 28043 20696 7347 10021586 9431200 590386 0 56533 405800 4374021 3597968 6654565 12678743 22724 26214 258422 145462 24998 112960 15147041 16243959 35377775 34365852 298211 216434 61955868 67647930 316209 243135 256591 263685 68214 8661068 8894873 9233868 9469907 X 43733503 43541287 8988497 14636736 52722000 58178023 61955868 67647930 X 5080316 375707 X 0 1 1 X 1 1 X X X 0 0 0 AITKIN COUNTY 416005749 6 1 1 1 0 ANOKA COUNTY 416005752 6 1 1 1 0 BECKER COUNTY 416005754 6 1 1 1 0 BELTRAMI COUNTY 416005757 6 1 1 1 0 BENTON COUNTY 416005759 6 1 1 1 0 BIG STONE COUNTY 416005760 6 1 1 1 0 BLUE EARTH COUNTY 416005763 6 1 1 1 0 BROWN COUNTY 416005765 6 1 1 1 0 CARLTON COUNTY 416005767 6 1 1 1 0 CARVER COUNTY 416005768 6 1 1 1 0 CASS COUNTY 416005769 6 1 1 1 0 CHIPPEWA COUNTY 416005771 6 1 1 1 0 CHISAGO COUNTY 416005772 6 1 1 1 0 CLAY COUNTY 416005775 6 1 1 1 0 CLEARWATER COUNTY 416005779 6 1 1 1 0 COOK COUNTY 416005781 6 1 1 1 0 COTTONWOOD COUNTY 416005782 6 1 1 1 0 CROW WING COUNTY 416005785 6 1 1 1 0 DAKOTA COUNTY 416005786 6 1 1 1 0 DODGE COUNTY 416005790 6 1 1 1 0 DOUGLAS COUNTY 416005791 6 1 1 1 0 FARIBAULT COUNTY 416005792 6 1 1 1 0 FILLMORE COUNTY 416005794 6 1 1 1 95068 FREEBORN COUNTY 416005795 6 1 1 1 0 GOODHUE COUNTY 416005797 6 1 1 1 144189 GRANT COUNTY 416007840 6 1 1 1 0 HENNEPIN COUNTY 416005801 6 1 1 1 0 HOUSTON COUNTY 416005804 6 1 1 1 15399 HUBBARD COUNTY 416008266 6 1 1 1 0 ISANTI COUNTY 416005808 6 1 1 1 0 ITASCA COUNTY 416005810 6 1 1 1 5600 JACKSON COUNTY 416005813 6 1 1 1 0 KANABEC COUNTY 416005815 6 1 1 1 0 KANDIYOHI COUNTY 416005818 6 1 1 1 0 KITTSON COUNTY 416005819 6 1 1 1 0 KOOCHICHING COUNTY 416005821 6 1 1 1 0 LAC QUI PARLE COUNTY 416005824 6 1 1 1 0 LAKE COUNTY 416005826 6 1 1 1 2000 LAKE OF THE WOODS COUNTY 416005827 6 1 1 1 0 LE SUEUR COUNTY 416005828 6 1 1 1 3350 LINCOLN COUNTY 416005830 6 1 1 1 0 LYON COUNTY 416005831 6 1 1 1 0 MAHNOMEN COUNTY 416005834 6 1 1 1 0 MARSHALL COUNTY 416005836 6 1 1 1 0 MARTIN COUNTY 416005837 6 1 1 1 0 MCLEOD COUNTY 416005841 6 1 1 1 0 MEEKER COUNTY 416005843 6 1 1 1 0 MILLE LACS COUNTY 416005845 6 1 1 1 0 MORRISON COUNTY 416005846 6 1 1 1 0 MOWER COUNTY 416005848 6 1 1 1 0 MURRAY COUNTY 416005850 6 1 1 1 160025 NICOLLET COUNTY 416005852 6 1 1 1 0 NOBLES COUNTY 416005854 6 1 1 1 0 NORMAN COUNTY 416005856 6 1 1 1 0 OLMSTED COUNTY 416005859 6 1 1 1 4304 OTTER TAIL COUNTY 416005861 6 1 1 1 5000 PENNINGTON COUNTY 416005862 6 1 1 1 0 PINE COUNTY 416005864 6 1 1 1 0 PIPESTONE COUNTY 416005866 6 1 1 1 0 POLK COUNTY 416005869 6 1 1 1 0 POPE COUNTY 416005871 6 1 1 1 0 RAMSEY COUNTY 416005875 6 1 1 1 0 RED LAKE COUNTY 416005878 6 1 1 1 0 REDWOOD COUNTY 416005879 6 1 1 1 0 RENVILLE COUNTY 416005880 6 1 1 1 0 RICE COUNTY 416005882 6 1 1 1 0 ROCK COUNTY 416005885 6 1 1 1 27000 ROSEAU COUNTY 416005889 6 1 1 1 5000 SCOTT COUNTY 416005892 6 1 1 1 0 SHERBURNE COUNTY 416005895 6 1 1 1 25000 SIBLEY COUNTY 416005897 6 1 1 1 0 ST LOUIS COUNTY 416005890 6 1 1 1 86978 STEARNS COUNTY 416005899 6 1 1 1 61696 STEELE COUNTY 416005901 6 1 1 1 0 STEVENS COUNTY 416005904 6 1 1 1 0 SWIFT COUNTY 416005906 6 1 1 1 0 TODD COUNTY 416005908 6 1 1 1 0 TRAVERSE COUNTY 416007586 6 1 1 1 0 WABASHA COUNTY 416005912 6 1 1 1 0 WADENA COUNTY 416005915 6 1 1 1 0 WASECA COUNTY 416005917 6 1 1 1 0 WASHINGTON COUNTY 416005919 6 1 1 1 4202 WATONWAN COUNTY 416005922 6 1 1 1 0 WILKIN COUNTY 416005924 6 1 1 1 0 WINONA COUNTY 416005926 6 1 1 1 51416 WRIGHT COUNTY 411268614 6 1 1 1 3000 YELLOW MEDICINE COUNTY 416004867 6 1 1 1 0 MULTI 000000000 6 1 1 1 931260 88 1630487 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 0 1 1365 0 0 0 1365 0 PART IV, SUPPLEMENTAL INFORMATION: SCHEDULE C, PART II-B, LINE 1F, DESCRIPTION OF LOBBYING ACTIVITIES: AS A STATEWIDE HOUSING ORGANIZATION, GMHF SEEKS TO EDUCATE POLICY MAKERS AT THE LOCAL, STATE AND FEDERAL LEVELS ABOUT AFFORDABLE HOUSING. GMHF IS INVOLVED IN ADVOCATING FOR SPECIFIC HOUSING POLICIES AND PROGRAMS AT THE MINNESOTA LEGISLATURE. GMHF AND THE FAMILY HOUSING FUND, TYPICALLY, JOIN FORCES DURING LEGISLATIVE SESSIONS, COORDINATING TESTIMONY AND GOVERNMENTAL RELATIONS EFFORTS. AS A RESULT, THE TWO FUNDS CAN SPEAK KNOWLEDGEABLY TO BOTH RURAL AND URBAN HOUSING ISSUES AFFECTING MINNESOTA. 258422 145462 112960 112960 FEDERAL HOME LOAN MORTGAGES 6259558 F HOUSING LOANS, NET OF ALLOWANCES 28106294 F 34365852 15101902 10021586 5080316 375707 375707 5456023 15426195 375707 20983 -72397 324293 15101902 0 15101902 9970172 20983 20983 9949189 72397 72397 10021586 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE ORGANIZATION IS A TAX EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS SUBJECT TO FEDERAL INCOME TAX ONLY ON NET UNRELATED BUSINESS INCOME. THE ORGANIZATION CURRENTLY HAS NO UNRELATED BUSINESS INCOME AND IS NOT CONSIDERED A PRIVATE FOUNDATION WITHIN THE MEANING OF SECTION 509(A) OF THE INTERNAL REVENUE CODE. THEREFORE, ALL CONTRIBUTIONS ARE CONSIDERED TAX DEDUCTIBLE. GREATER MINNESOTA HOUSING CORPORATION IS A WHOLLY OWNED LIMITED LIABILITY CORPORATION OF GMHF AND ALL ITS ACTIVITIES ARE INCLUDED ON THE FILINGS WITH GMHF. EFFECTIVE JANUARY 1, 2009, A NEW ACCOUNTING STANDARD THAT CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES WAS RECOGNIZED IN THE ORGANIZATION'S FINANCIAL STATEMENTS. THE POLICY PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT PRINCIPLES FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. THE IMPLEMENTATION OF THIS POLICY HAD NO IMPACT ON ORGANIZATION'S CONSOLIDATED FINANCIAL STATEMENTS. THE 2007-2009 TAX YEARS OF THE ORGANIZATION ARE OPEN FOR EXAMINATION BY THE INTERNAL REVENUE SERVICE. PART XII, LINE 2D - OTHER ADJUSTMENTS: INVESTMENT MANAGEMENT FEES -72,397. PART XIII, LINE 4B - OTHER ADJUSTMENTS: INVESTMENT MANAGEMENT FEES 72,397. 1 AFRICAN AMERICAN DEVELOPMENT CENTER OF MINESOTA 1808 RIVERSIDE AVENUE 200 MINNEAPOLIS MN 55454 200553370 501(C)(3) 75000 N/A N/A EMERGING MARKETS (EMHI) PROGRAM GRANT ALL PARKS ALLIANCE FOR CHANGE 970 RAYMOND AVENUE 105 ST PAUL MN 55114 411386600 501(C)(3) 11520 N/A N/A ORGANIZATIONAL GRANT CENTER CITY HOUSING CORP 105 1/2 WEST FIFTH STREET DULUTH MN 55802 363485584 501(C)(3) 30000 N/A N/A SPECIAL PROJECTS GRANT CENTRAL MINNESOTA HOUSING PARTNERSHIP 37 - 28TH AVENUE NORTH 102 ST CLOUD MN 56303 411752558 501(C)(3) 22050 N/A N/A SPECIAL INITIATIVE GRANT CITY OF PERHAM PO BOX 130 PERHAM MN 56573 416005453 CITY OF PERHAM 5000 N/A N/A PROG GRANTS-PROJECT BASED MF/SF/BBN,CIP CITY OF RUSHFORD PO BOX 430 RUSHFORD MN 55971 CITY OF RUSHFORD 6800 N/A N/A SPECIAL INITIATIVE GRANT SE MN FLOOD RECOVERY TA CORPORATION FOR SUPPORTIVE HOUSING 2801 21ST AVENUE SOUTH 220 MINNEAPOLIS MN 55407 133600232 501(C)(3) 95000 N/A N/A GRANT FOR DEVELOPMENT OF PERMANENT SUPPORTIVE HOUSING CRYSTAL LAKE DPA BLACK BEAR HOMES PO BOX 237 GRAND RAPIDS MN 55744 CITY OF CRYSTAL LAKE 5600 N/A N/A SPECIAL INITIATIVE GRANT FAMILY HOUSING FUND 801 NICOLLET MALL 1650 MINNEAPOLIS MN 55402 411380923 501(C)(3) 155000 N/A N/A TENANT ASSISTANCE GRANT/HECAT GRANT HOME LINE 3455 BLOOMINGTON AVENUE MINNEAPOLIS MN 55407 411941115 501(C)(3) 17280 N/A N/A ORGANIZATIONAL SUPPORT HOUSING PRESERVATION PROJECT 570 ASBURY STREET 105 ST PAUL MN 55104 411930525 501(C)(3) 49920 N/A N/A ORGANIZATIONAL SUPPORT LUMBER ONE AVON INC PO BOX 7 AVON MN 56310 39646 N/A N/A VALUE GRANT FOR HERITAGE GREEN CAMBRIDGE/SF VALUE GRANT FOR WOODRIDGE ESTATES MINNESOTA COALITION FOR THE HOMELESS 2233 UNIVERSITY AVENUE WEST 434 ST PAUL MN 55114 411601248 501(C)(3) 24320 N/A N/A SPECIAL INITIATIVE GRANT MINNESOTA HOME OWNERSHIP CENTER 1000 PAYNE AVENUE 200 ST PAUL MN 55130 411741817 501(C)(3) 32000 N/A N/A SPECIAL PROJECTS GRANT/ORGANIZATIONAL SUPPORT GRANT AWARDED MINNESOTA HOUSING FINANCE AGENCY 400 SIBLEY STREET 300 ST PAUL MN 55101 411599130 STATE OF MINNESOTA 411000 N/A N/A SINGLE-FAMILY HOMEBUYER EDUCATION GRANT / SPECIAL PROJECTS GRANT CONTINUUM OF CARE GRANTS FOR 2010 TO ASSIST WITH HUD FUNDING MINNESOTA HOUSING PARTNERSHIP 2446 UNIVERSITY AVENUE WEST 140 ST PAUL MN 55114 411649643 501(C)(3) 49920 N/A N/A 2009 AWARD INCREASED RESOLUTION #2009-10-94 MN NAHRO 1228 TOWN CENTER EAGAN MN 55123 411299400 501(C)(3) 5000 N/A N/A SPECIAL PROJECTS GRANT NORTH SHORE HORIZONS 127 SEVENTH STREET TWO HARBORS MN 55616 411451736 501(C)(3) 15000 N/A N/A SPECIAL PROJECTS GRANT NORTHERN COMMUNITIES LAND TRUST 106 WEST FOURTH STREET DULUTH MN 55805 411678328 501(C)(3) 5500 N/A N/A PROG GRANTS-PROJECT BASED MF/SF/BBN,CIP NORTHWEST COMMUNITY ACTION PO BOX 195 BADGER MN 56714 410888567 501(C)(3) 5000 N/A N/A PROG GRANTS-PROJECT BASED MF/SF/BBN,CIP OLMSTED COUNTY HRA 2100 CAMPUS DRIVE SE 200 ROCHESTER MN 55904 416005859 OLMSTED COUNTY 15500 N/A N/A HEADING HOMES 1ST YEAR HEADING HOME GRANT RUM RIVER HEALTH CENTER 209 SIXTH AVENUE SOUTH PRINCETON MN 55371 363526744 501(C)(3) 25000 N/A N/A HEADING HOME GRANT 1 YEAR SOUTHWEST MENTAL HEALTH CENTER 216 EAST LUVERNE STREET PO BOX 686 LUVERNE MN 56156 410914354 501(C)(3) 27000 N/A N/A HEADING HOMES 1ST YEAR HEADING HOME GRANT SOUTHWEST MINNESOTA HOUSING PARTNERSHIP 2401 BROADWAY AVENUE 4 SLATON MN 56172 411721815 501(C)(3) 160025 N/A N/A RCDI PROJECT/GREEN GRANTS THREE RIVERS COMMUNITY ACTION 1414 NORTH STAR DRIVE ZUMBROTA MN 55992 410906178 501(C)(3) 144189 N/A N/A SPECIAL PROJECTS GRANT/GRANT FOR EMERGING MARKETS (EMHI) PROGRAM WOMEN'S COMMUNITY DEVELOPMENT ORGANIZATION 1401 EAST SECOND STREET SUITE A DULUTH MN 55805 411586200 501(C)(3) 34609 N/A N/A SPECIAL PROJECTS GRANT/SINGLE-FAMILY SUPPORTIVE HOUSING GRANT GRANT FUNDS RETURNEDREFUNDED -29755 GRANT FUNDS RETURNED/REFUNDED 19 7 SE MINNESOTA 2007 FLOOD GAP GRANTS 108 155887 0 N/A N/A PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: ANNUAL WRITTEN REPORTS FOR THE TERM OF THE GRANT ON THE USE OF FUNDS ARE REQUIRED OF ALL GRANT RECIPIENTS. SE MINNESOTA 2007 FLOOD GAP GRANTS ARE LOAN FORGIVENESS AMOUNTS APPLIED DIRECTLY TO THE LOAN PRINCIPAL. NO AMOUNTS ARE DISBURSED TO INDIVIDUALS. X X X X X 0 0 0 0 0 0 0 0 0 WARREN HANSON 175000 0 5250 0 3600 0 18025 0 30782 0 232657 0 0 0 NEW PROGRAM SERVICES FORM 990, PART III, LINE 2 THE ORGANIZATION WILL BE UNDERTAKING CHANGES TO THE PROGRAM SERVICES TO INCLUDE THE FOLLOWING IN 2012: (A) TO SUPPORT SUCH GREATER MINNESOTA CITIES AND THEIR SURROUNDING COMMUNITIES BY PROMOTING, SUPPORTING, OR CONDUCTING OTHER COMMUNITY DEVELOPMENT ACTIVITIES WITHIN THE MEANING OF SECTIONS 170(C)(2) AND 501(C)(3) OF THE INTERNAL REVENUE CODE; AND (B) TO SUPPORT THE STATE OF MINNESOTA'S AFFORDABLE HOUSING OBJECTIVES BY HELPING TO RAISE AND DEPLOY CAPITAL FOR AFFORDABLE HOUSING PROGRAMS IN MINNESOTA, SUCH AS THE FEDERAL LOW INCOME HOUSING TAX CREDIT PROGRAM AND SIMILAR PROGRAMS, INCLUDING BY SERVING AS THE GENERAL PARTNER OR MANAGING MEMBER OF INVESTING ENTITIES THAT WILL PROVIDE CAPITAL TO LIMITED PARTNERSHIPS OR OTHER PASS-THROUGH ENTITIES TO DEVELOP, OWN AND OPERATE AFFORDABLE HOUSING PROJECTS THROUGHOUT THE STATE OF MINNESOTA. FORM 990, PART VI, SECTION A, LINE 1 THE EXECUTIVE COMMITTEE CONSISTS OF FOUR MEMBERS OF THE BOARD OF DIRECTORS AS DESIGNATED BY THE FULL BOARD. THE EXECUTIVE COMMITTEE HAS THE FULL AUTHORITY OF THE BOARD OF DIRECTORS BETWEEN MEETINGS OF THE FULL BOARD AND CONDUCTS THE ANNUAL REVIEW AND COMPENSATION OF THE PRESIDENT/CEO. FORM 990, PART VI, SECTION A, LINE 4 THE ORGANIZATION AMENDED ITS ARTICLES OF INCORPORATION TO ALTER THE CHARITABLE PURPOSES OF THE ORGANIZATION TO INCLUDE THE FOLLOWING: (A) TO SUPPORT SUCH GREATER MINNESOTA CITIES AND THEIR SURROUNDING COMMUNITIES BY PROMOTING, SUPPORTING, OR CONDUCTING OTHER COMMUNITY DEVELOPMENT ACTIVITIES WITHIN THE MEANING OF SECTIONS 170(C)(2) AND 501(C)(3) OF THE INTERNAL REVENUE CODE; AND (B) TO SUPPORT THE STATE OF MINNESOTA'S AFFORDABLE HOUSING OBJECTIVES BY HELPING TO RAISE AND DEPLOY CAPITAL FOR AFFORDABLE HOUSING PROGRAMS IN MINNESOTA, SUCH AS THE FEDERAL LOW INCOME HOUSING TAX CREDIT PROGRAM AND SIMILAR PROGRAMS, INCLUDING BY SERVING AS THE GENERAL PARTNER OR MANAGING MEMBER OF INVESTING ENTITIES THAT WILL PROVIDE CAPITAL TO LIMITED PARTNERSHIPS OR OTHER PASS-THROUGH ENTITIES TO DEVELOP, OWN AND OPERATE AFFORDABLE HOUSING PROJECTS THROUGHOUT THE STATE OF MINNESOTA. FORM 990, PART VI, SECTION B, LINE 11 THE IS FORM 990 IS REVIEWED IN DETAIL BY THE PRESIDENT, VICE PRESIDENT, AND OFFICE MANAGER AND PRESENTED TO AND APPROVED BY THE ORGANIZATION'S OFFICERS AND BOARD MEMBERS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST DISCLOSURE FORMS ARE COMPLETED ANNUALLY BY THE ORGANIZATION'S OFFICERS AND BOARD MEMBERS. CONFLICT OF INTEREST DISCLOSURE IS A STANDING AGENDA ITEM AT THE START OF EACH BOARD MEETING. CONFLICT DETERMINATIONS ARE MADE BY THE BOARD CHAIR. BOARD MEMBERS WITH A CONFLICT DO NOT VOTE ON THE CONFLICTING MATTER, AND MAY OR MAY NOT PARTICIPATE IN DISCUSSION OF THE MATTER AS DECIDED BY THE BOARD MEMBERS NOT IN CONFLICT. ALL PROCEEDINGS RELATED TO CONFLICTS OF INTEREST ARE DOCUMENTED IN THE MEETING MINUTES. FORM 990, PART VI, SECTION B, LINE 15A ANNUAL REVIEW AND COMPENSATION OF PRESIDENT/CEO IS PERFORMED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS. THE ANNUAL REVIEW IS DONE UPON THE HIRE DATE OF THE EMPLOYEE USING APPROPRIATE COMPARABILITY DATA. THIS PROCESS WAS LAST UNDERTAKEN IN 2010 FOR THE PRESIDENT/CEO, WARREN HANSON. THE COMPENSATION OF OTHER OFFICERS' AND STAFF IS DETERMINED BY AN ANNUAL REVIEW AS DETERMINED BY THE HIRE DATE OF THE EMPLOYEE PERFORMED AND AUTHORIZED BY THE PRESIDENT/CEO USING APPROPRIATE COMPARABILITY DATA. THIS PROCESS WAS LAST CONDUCTED IN 2010 FOR THE DIRECTOR OF FINANCE/ACCOUNTING, C. COFFER AND THE VICE PRESIDENT OF PROGRAMS, A. MCCULLOCH. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS FINANCIAL STATEMENTS AND FORM 990 AVAILABLE ON ITS WEBSITE AND UPON REQUEST; THE ORGANIZATION'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 375,707. GREATER MINNESOTA HOUSING CORPORATION 332 MINNESOTA ST 1310E ST PAUL MN 55101 753209894 HOUSING MN -60 171 N/A