Justine Petersen Housing And Reinvestment Corporation

Nonprofit profile at a glance

EIN
431769074
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Saint Louis, MO, USA
Phone
3145332411
Rating
87
Verdict
STRONG
Rating confidence
Standard
Sector
Housing Support

Official website

Reported finances

Revenue
$13,975,768
Expenses
$12,861,272
Assets
$86,298,350
Liabilities
$64,820,787

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • EDDIE DAVIS (PRESIDENT)
  • ROBERT BOYLE (CHIEF EXECUTIVE OFFICER)

Highest reported compensation

  • SHERI FLANIGAN-VAZQUEZ (CHIEF OPERATING OFFICER): $247,053 total reported compensation
  • ROBERT BOYLE (CHIEF EXECUTIVE OFFICER): $205,636 total reported compensation
  • AIDA RICHARDSON (CHIEF LENDING OFFICER): $191,338 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Justine petersen's mission is to promote housing, savings, and economic development of low and moderate income families to build assets and create enduring change.

What it reported doing in 2024

Technical assistance and lending to small businesses and micro-enterprises. As the nation's largest sba micro-loan intermediary, justine petersen borrows money directly from the sba and originates micro-enterprise loans under $50,000 in accordance with its own underwriting guidelines to small business owners that may not be able to secure capital elsewhere. Justine petersen participates in the usda intermediary relending program for its rural lending. Justine petersen and its subsidiary, great rivers community capital, are both treasury-certified community development financial institutions (cdfi) and originate micro-enterprise and small business loans. Geographically, justine petersen/great rivers currently offer microenterprise/small business loans in 73 Illinois and 28 Kansas counties and the entire state of Missouri. In 2024, justine petersen and its subsidary provided technical assistance and originated over $31.7 million in 857 micro-enterprise and small business loans and originated over $1.2 million in 465 consumer loans.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Liabilities are high compared with assets and reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 80
  • Accountability: 100
  • Sustainability: 63
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 86.3%; rating input score 86
  • Program expense ratio: 93.7%; rating input score 94
  • Fundraising efficiency: $31.95 raised per $1 spent on fundraising; rating input score 68; 68th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 8%; rating input score 63; 63rd percentile among comparable filings
  • Total-asset coverage ratio: 6.71; rating input score 88; 88th percentile among comparable filings
  • Liabilities to assets ratio: 0.75; rating input score 16; 16th percentile among comparable filings
  • Officer compensation ratio: 5.8%; rating input score 44; 44th percentile among comparable filings

Growth

  • Program expense growth: 13.2% per year; rating input score 100; 80th percentile among comparable filings
  • Revenue growth: 13.4% per year; rating input score 100; 83rd percentile among comparable filings
  • Asset growth: 14.4% per year; rating input score 100; 79th percentile among comparable filings

Details

  • Where the money goes: 86.3% of revenue deployed · 93.7% of spending went to programs
  • Governance: 4 of 4 board members independent · 9 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $12M in reported program spending
  • Leadership: top reported pay $247K · 8 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 37 of 37 current checks pass
  • Schedules: 7 filed schedules · includes major donors, executive pay, and related organizations
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 5 filed money-flow records
  • Related organizations: 9 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • High — Sustainability: Liabilities to assets ratio scored 16/100.
  • Moderate — Sustainability: Officer compensation ratio scored 44/100.