East Edina Housing Foundation

Nonprofit profile at a glance

EIN
363354189
IRS 990 coverage
2010–2025
Forms available
Form 990 2025
Location
Edina, MN, USA
Phone
9528260462
Rating
69
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Expense Reduction Support

Official website

Reported finances

Revenue
$206,532
Expenses
$66,277
Assets
$12,278,364
Liabilities
$13,846

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

5 people listed

Executive titles in this filing

  • ANN SWENSON (PRESIDENT)
  • BERNADETTE HORNING (VICE PRESIDENT)
  • MARY KAY MCNEE (VICE PRESIDENT)

People named in this filing

  • ANN SWENSON (PRESIDENT)
  • BERNADETTE HORNING (VICE PRESIDENT)
  • MARY KAY MCNEE (VICE PRESIDENT)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To engage in and conduct charitable activities exclusively for the benefit of, to perform the function of and to assist in carrying out the charitable purposes of the city of edina and the hra: to provide in the eehf neighborhood, modest cost housing for persons of low and moderate income and in connection therewith,1. Promote and undertake community development activities on a non-profit basis within the eehf neighborhood.2. Provide assistance to non-profit or not-for-profit developers or sponsors of low or moderate-income housing, including housing for the elderly under section 202 of the national housing act of 1959, within the neighborhood area.3. Receive block grants or similar funds from the city, or other governmental agencies or subdivisions, including the authority, and to put to productive use all of such funds exclusively for the aforementioned purposes.

What it reported doing in 2025

4040 west 70th land redevelopment - this property has been fully redeveloped into a 188 unit age restricted affordable apartments building. The land is owned by the edina housing foundation who entered into a ground lease with the building owner.

Operating model

Revenue model
Earned-program. 66% of the money available for current operations came from fees and other program revenue.
Distribution model
Hybrid. The nonprofit split its reported program spending across 49% for direct work, and 51% for grants.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 42
  • Transparency & Controls: 93
  • Accountability: 76
  • Sustainability: 88
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 19.1%; rating input score 19
  • Program expense ratio: 94.7%; rating input score 95
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 81st percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 67.9%; rating input score 95; 95th percentile among comparable filings
  • Total-asset coverage ratio: 185.26; rating input score 100; 100th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 50; 50th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 67; 67th percentile among comparable filings

Growth

  • Program expense growth: 1.2% per year; rating input score 100; 33rd percentile among comparable filings
  • Revenue growth: 14.8% per year; rating input score 100; 80th percentile among comparable filings
  • Asset growth: 4.2% per year; rating input score 100; 41st percentile among comparable filings

Details

  • Where the money goes: 19.1% of revenue deployed · 94.7% of spending went to programs
  • Governance: 5 of 5 board members independent · 3 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $63K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 20 of 20 current checks pass
  • Schedules: 5 filed schedules · includes grants
  • Filing history: 15 filing years from 2010 to 2025
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 3 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Mission deployment rate scored 19/100.
  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • Review — Sustainability: Liabilities to assets ratio scored 50/100.