Minnesota Multi Housing Association

Nonprofit profile at a glance

EIN
410961625
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
Bloomington, MN, USA
Phone
9528548500
Rating confidence
Limited

Official website

Reported finances

Revenue
$2,488,616
Expenses
$2,354,908
Assets
$3,069,408
Liabilities
$1,461,034

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

Leadership & pay

18 people listed

Executive titles in this filing

  • CECIL SMITH (PRESIDENT)

Highest reported compensation

  • CECIL SMITH (PRESIDENT): $249,687 total reported compensation
  • TODD LILJENQUIST (EMPLOYEE): $172,216 total reported compensation
  • AUBREY ALBRECHT (EMPLOYEE): $137,738 total reported compensation

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

Overview

Mission

To support the multi-housing industry through public policy leadership, educational opportunities, communications and marketing in ways that enhance the industry for its members, its residents and its communities.

What it reported doing in 2024

Governmental affairs & public relations -successfully lobbied at state and local levels of government; provided resources and promoted the industry, residents and communities.distributing our principles of successful rental property management brochures help property owners to operate effectively and helps to ensure that their business practices add to the economic growth of the community. Our partnerships with cities and crime-free program officers aid in training owners and managers on proper management practices. Our hotline and other resources provide both renters and property managers the knowledge necessary to foster positive business relationships. And, our industry professionals help to prepare high school students for looking for an apartment, signing a lease, and living on their own as responsible contributors to their communities.

Operating model

Revenue model
Earned-program. 96% of the money available for current operations came from fees and other program revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 79
  • Accountability: 90
  • Sustainability: 41
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • 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: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • 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: 5.4%; rating input score 52; 52nd percentile among comparable filings
  • Total-asset coverage ratio: 1.3; rating input score 46; 46th percentile among comparable filings
  • Liabilities to assets ratio: 0.48; rating input score 22; 22nd percentile among comparable filings
  • Officer compensation ratio: 29%; rating input score 6; 6th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 1.9% per year; rating input score 100; 20th percentile among comparable filings
  • Asset growth: 11.3% per year; rating input score 100; 63rd percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 15 of 15 board members independent · 6 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $871K in reported program spending
  • Leadership: top reported pay $250K · 18 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 11 of 11 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 6 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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.

  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Review — Sustainability: Operating margin scored 52/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 46/100.
  • High — Sustainability: Officer compensation ratio scored 6/100.
  • High — Sustainability: Liabilities to assets ratio scored 22/100.