Minnesota Home Ownership Center

Analysis

Minnesota Home Ownership Center is a registered charity in United States, based in St Paul, MN. It received its IRS tax-exemption ruling in June 1993, 33 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Minnesota Home Ownership Center reported income of $3.4m and spending of $3.9m, spending 115% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $5.8m to $3.4m (-41%), an average of -12% a year. The sharpest change came in the year to December 2022, when income rose by 135%. Over the whole period it spent 95% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Minnesota Home Ownership Center sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 89th percentile within MN. Charities of a similar size with the same main cause include Metropolitan Property Management Inc ($3.4m), Habitat for Humanity International Inc ($3.4m) and Habitat for Humanity International Inc ($3.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 84% and program service revenue 6.0% of the total. Compensation of current officers, directors and key employees was $255k (6.5% of expenses). Other salaries and wages came to $677k. It paid $24k in professional fundraising fees. At year end it held assets of $14.3m against liabilities of $971k, net assets of $13.3m. It reported 15 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.