Civic Intelligence

Prg Inc.

990 • Fiscal year 2013 • EIN 41-1280596

Jan 01, 2013 to Dec 31, 2013 • Filed on Jun 23, 2014

2017 East 38th StreetMinneapolis, MN 55407

(612) 721-7556

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

88th percentile

0.85x

Higher debt load relative to assets than 88% of similar nonprofits.

2013 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2013

Liabilities / Revenue

93rd percentile

3.84x

Higher debt load relative to revenue than 93% of similar nonprofits.

2013 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2013

Net Margin

72nd percentile

15%

Higher net margin than 72% of similar nonprofits.

2013 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2013

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2013

Asset Growth

35th percentile

-1.5%

Faster asset growth than 35% of similar nonprofits.

2013 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2012 to 2013

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2013

Assets

Down

$4,572,251

Down $68,854 (-1.5%) from 2012

Net Assets

Up

$680,157

Up $156,936 (+30%) from 2012

Liabilities

Down

$3,892,094

Down $225,790 (-5.5%) from 2012

Revenue

$1,012,501

No earlier filing loaded for comparison.

Expenses

Up

$855,565

Up $277,517 (+48%) from 2012

Net Income

$156,936

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$6.0M$4.0M$2.0M$0Assets 2010: $4,749,101Liabilities 2010: $4,292,856Net Assets 2010: $456,2452010Assets 2011: $4,691,832Liabilities 2011: $4,198,427Net Assets 2011: $493,4052011Assets 2012: $4,641,105Liabilities 2012: $4,117,884Net Assets 2012: $523,2212012Assets 2013: $4,572,251Liabilities 2013: $3,892,094Net Assets 2013: $680,1572013Assets 2014: $4,146,237Liabilities 2014: $3,396,193Net Assets 2014: $750,0442014Assets 2015: $3,243,048Liabilities 2015: $2,452,142Net Assets 2015: $790,9062015Assets 2016: $3,448,043Liabilities 2016: $2,638,081Net Assets 2016: $809,9622016Assets 2017: $3,082,138Liabilities 2017: $1,956,499Net Assets 2017: $1,125,6392017Assets 2018: $3,041,112Liabilities 2018: $1,784,618Net Assets 2018: $1,256,4942018Assets 2019: $4,173,622Liabilities 2019: $2,780,089Net Assets 2019: $1,393,5332019Assets 2020: $3,528,839Liabilities 2020: $2,042,967Net Assets 2020: $1,485,8722020Assets 2021: $3,709,153Liabilities 2021: $2,047,990Net Assets 2021: $1,661,1632021Assets 2022: $4,226,956Liabilities 2022: $2,493,998Net Assets 2022: $1,732,9582022Assets 2023: $4,216,429Liabilities 2023: $2,299,070Net Assets 2023: $1,917,3592023Assets 2024: $5,403,864Liabilities 2024: $3,437,833Net Assets 2024: $1,966,0312024

Highlighted filing

2013

Assets$4,572,251
Liabilities$3,892,094
Net Assets$680,157

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.5M$1.0M$500K$0Expenses 2010: $613,9722010Expenses 2011: $553,2572011Expenses 2012: $578,0482012Revenue 2013: $1,012,501Expenses 2013: $855,565Net Income 2013: $156,9362013Revenue 2014: $792,547Expenses 2014: $722,660Net Income 2014: $69,8872014Revenue 2015: $844,318Expenses 2015: $803,456Net Income 2015: $40,8622015Revenue 2016: $585,092Expenses 2016: $566,036Net Income 2016: $19,0562016Revenue 2017: $905,063Expenses 2017: $589,386Net Income 2017: $315,6772017Revenue 2018: $703,455Expenses 2018: $661,090Net Income 2018: $42,3652018Revenue 2019: $827,222Expenses 2019: $690,183Net Income 2019: $137,0392019Revenue 2020: $817,960Expenses 2020: $725,621Net Income 2020: $92,3392020Revenue 2021: $971,147Expenses 2021: $795,856Net Income 2021: $175,2912021Revenue 2022: $927,500Expenses 2022: $855,705Net Income 2022: $71,7952022Revenue 2023: $1,035,017Expenses 2023: $850,616Net Income 2023: $184,4012023Revenue 2024: $1,294,071Expenses 2024: $1,245,399Net Income 2024: $48,6722024

Highlighted filing

2013

Revenue$1,012,501
Expenses$855,565
Net Income$156,936
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
Jun 23, 2014
Return Version
2013v3.0
Gross Receipts
$3,747,004
Mission and Program Overview

Mission

Prg combines community-based affordable housing development with education and counseling to help all people and neighborhoods thrive. We accomplish our mission both by developing affordable housing in partnership with neighborhoods and other groups, and by educating and counseling first-time homebuyers and households at risk of foreclosure.

To provide quality, affordable housing and related services that increase family self-sufficiency and neighborhood stability.

Balance Sheet Detail
LineBeginningEndChange
Assets
Inventories for Sale or Use$3,035,561$2,731,947▼ $303,614
Land, Buildings, and Equipment, Net$197,755$206,473▲ $8,718
Cash and Non-Interest-Bearing Accounts$170,110$125,588▼ $44,522
Investments Program Related$114,251$114,251→ $0
Savings and Temporary Cash Investments$50,120$50,134▲ $14
Pledges and Grants Receivable$44,669--
Other Notes and Loans Receivable, Net$75,836$43,348▼ $32,488
Accounts Receivable$31,029$8,697▼ $22,332
Prepaid Expenses and Deferred Charges$7,845$4,452▼ $3,393
Total Assets$4,641,105$4,572,251▼ $68,854
Other Assets Total$913,929$1,287,361▲ $373,432
Liabilities
Unsecured Notes Loans Payable$3,431,944$3,202,362▼ $229,582
Mortgage Notes Payable Secured by Investment Property$449,692$419,112▼ $30,580
Accounts Payable and Accrued Expenses$189,568$255,061▲ $65,493
Deferred Revenue$46,680$15,559▼ $31,121
Total Liabilities$4,117,884$3,892,094▼ $225,790
Net Assets / Fund Balance
Permanently Rstr Net Assets$681,348$0▼ $681,348
Temporarily Rstr Net Assets$30,000$670,352▲ $640,352
Unrestricted Net Assets$-188,127$9,805▲ $197,932
Total Net Assets Fund Balance$523,221$680,157▲ $156,936
Total Liabilities and Net Assets / Fund Balance$4,641,105$4,572,251▼ $68,854

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$148,225$86,661$234,886
Land$39,572-$39,572
Equipment$18,676$14,088$32,764
Other Assets Org$168,750--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Kathryn Wetzel-mastelExecutive DirectorFT$76,610$2,625$79,235

Board Members and Trustees

NameTitle
Michael AndersonPresident
David FayVice President
Erich WunderlichMember
Justo Ali GarciaMember
Mark AllenMember
Mark SchoenbaumMember
Jane TiganSecretary
Margaret BensonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$378,777
Program Service Revenue
$626,812
Investment Income
$6,912
Other Revenue
$0
All Other Contributions
$52,591
Change in Net Assets
$156,936

Audited Revenue Reconciliation

Revenue per Audited Statements
$536,315
Revenue Not Reported on Financial Statements
$476,186
Revenue Not Reported on Form 990
$2,400
Other Revenue Adjustments
$476,186
Total Revenue per Audited Statements
$538,715
Total Revenue per Form 990
$1,012,501
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$428,477
Other Expenses$427,088
Total Fundraising Expense$22,172
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$208,391$48,315$12,470$269,176
Current Officers, Directors, Trustees, and Key Employees$59,426$17,828$1,981$79,235
Other Employee Benefits$33,290$7,440$1,991$42,721
Payroll Taxes$28,137$7,501$1,707$37,345
Interest$13,631$7,024$1,243$21,898
Office Expenses$15,395$3,262$838$19,495
Fees for Services Accounting-$11,500-$11,500
Depreciation Depletion$7,897$1,828$554$10,279
All Other Expenses$8,172$1,340$323$9,835
Occupancy$7,578$1,731$426$9,735
Insurance$5,327$2,044$392$7,763
Other Expenses$5,577$297$59$5,933
Travel$3,160$144$103$3,407
Fees for Services Other$871-$29$900
Conferences and Meetings$492$173$34$699
Advertising$261$128$22$411
Fees for Services Legal-$-574-$-574
Total Functional Expenses$723,412$109,981$22,172$855,565

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$855,565
Total Expenses per Audited Statements$661,158
Expenses per Audited Statements$658,758
Expenses Not Reported on Financial Statements$196,807
Other Expense Adjustments$196,807
Expenses Not Reported on Form 990$2,400
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11

Prg's executive director, finance manager, communication's manager, and the governing board receive copies of the 990 and review it prior to filing.

Form 990, Part VI, Section B, Line 12C

The board of directors complete a conflict of interest form on an annual basis.

Form 990, Part VI, Section B, Line 15

The board of directors, with the recommendation of the personnel committee, set the compensation of the executive director. A salary and benefits survey assists in determining the compensation of similar organizations/positions. The personnel committee conducts an annual performance review at which time adjustments are made. The minnesota council of non-profits salary and benefit survey is utilized in determining the compensation of similar positions at similar organizations. Additionally, all employees are subject to an annual performance review at which time adjustments are made based on performance, organizational finances, and the external environment.

Form 990, Part VI, Section C, Line 19

Governing documents, the 990, and audited financial statements are available upon request.

Filing and Contact Details

Filer

EIN
41-1280596
Phone
6127217556

Signing Officer

Name
Kathy Wetzel-mastel
Title
Executive Director
Phone
6127217556
Signed
2014-06-23
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kathy Wetzel-mastel
Formed
1976
Legal Domicile
Mn
Voting Board Members
8
Independent Board Members
8
Employees
11
Volunteers
18

Preparer

Preparer
Rozalyn Z Allyson
Phone
6512276695
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 2C

The process has not changed from the prior year.

Financial Statement Notes

PART X, LINE 2:

Prg is exempt from income taxes under section 501(c)(3) of the internal revenue code and applicable minnesota statutes and is subject to income taxes only on net unrelated business income. Prg is not currently under examination by ay taxing jurisdiction. Federal and state tax authorities generally have the right to examine the previous three years of income tax returns.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Spirit on lake development fees 195,000. Spirit on lake grant income 281,186.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Debt forgiveness 196,807.

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IRS990/Desc0REAL ESTATE DEVELOPMENT:PRG DEVELOPS AFFORDABLE SINGLE-FAMILY AND MULTI-FAMILY HOUSING IN RESPONSE TO REQUESTS FROM NEIGHBORHOODS, COMMUNITY ORGANIZATIONS, AND SOCIAL SERVICE PROVIDERS. INSTEAD OF TAKING A ONE-SIZE-FITS-ALL APPROACH, WE PLACE A PRIORITY ON SENSITIVITY TO WHAT OUR PARTNER GROUPS WANT AND NEED, AND WE ENGAGE WITH THE COMMUNITY THROUGHOUT THE DEVELOPMENT PROCESS. HISTORICALLY, THIS HAS MEANT CREATING SINGLE-FAMILY HOMES FOR OWNERSHIP AS WELL AS A RANGE OF TYPES OF MULTI-FAMILY AND SUPPORTIVE HOUSING. IN 2013, IN RESPONSE TO THE EFFECTS OF FORECLOSURES ON NEIGHBORHOODS, WE CONTINUED TO ALLOT THE MAJORITY OF OUR DEVELOPMENT CAPACITY TO REHABBING SINGLE-FAMILY, FORECLOSED HOMES, WHILE ALSO CONTINUING WITH ONGOING MULTI-FAMILY PROJECTS AS CONDITIONS ALLOWED.SINGLE FAMILY DEVELOPMENT:PRG'S FORECLOSURE RECOVERY WORK TARGETS TWO NORTH MINNEAPOLIS NEIGHBORHOODS (HARRISON AND JORDAN) AND THE SUBURBAN COMMUNITY OF BROOKLYN PARK. EACH OF THESE AREAS HAS BEEN SEVERELY IMPACTED BY THE FORECLOSURE CRISIS AND SOUGHT OUR ASSISTANCE.IN 2013, PRG ACQUIRED 10 LENDER-OWNED SINGLE-FAMILY HOMES IN NEED OF SIGNIFICANT REHABILITATION. OVER THE COURSE OF THE YEAR WE COMPLETED CONSTRUCTION ON 8 HOMES, AND WE SOLD OR WERE UNDER CONTRACT TO SELL 16 HOMES TO LOW- AND MODERATE-INCOME FIRST-TIME HOMEBUYERS (INCLUDING SOME OF THE HOMES ACQUIRED IN 2013, AS WELL AS SOME ALREADY IN OUR CONSTRUCTION PIPELINE FROM 2012). IN 2013, WE WERE AWARDED ADDITIONAL FUNDING FROM GREEN HOMES NORTH, WHICH WILL INCREASE THE NUMBER OF NEW CONSTRUCTION SINGLE FAMILY UNITS FROM 4 TO 9 IN TARGET AREAS OF THE HARRISON AND JORDAN NEIGHBORHOODS.PRG HAS DONE EXTENSIVE OUTREACH TO SMALL AND MINORITY CONTRACTORS AND AS A RESULT HAS AWARDED THE MAJORITY OF ITS CONSTRUCTION CONTRACTS TO FIRMS OF THIS TYPE.PRG WILL CONTINUE TO FOCUS ON FORECLOSURE RECOVERY WORK IN 2014 AND EXPECTS TO COMPLETE THE END-SALE OF APPROXIMATELY 22 SINGLE-FAMILY HOMES THIS YEAR.SPIRIT ON LAKE:PRG HAS BEEN DEDICATED TO THIS PROJECT OVER MANY YEARS, BRINGING TO FRUITION THE VISION OF GLBT GENERATIONS AND SPIRIT OF THE LAKES CHURCH TO CREATE AFFORDABLE HOUSING WELCOMING TO THE AGING GLBT COMMUNITY. IN 2013 WE COMPLETED CONSTRUCTION AND FULL OCCUPANCY OF THE 41 APARTMENTS AFFORDABLE AT 50% AMI AND 5 APARTMENTS TO SERVE RECENTLY HOMELESS INDIVIDUALS. GREENWAY HEIGHTS:IN 2013 WE SECURED 100% OF NECESSARY FUNDING FOR THIS PROJECT, WHICH WILL RESULT IN 42 LARGE FAMILY APARTMENTS IN THE PHILLIPS NEIGHBORHOOD. THE UNITS WILL BE AFFORDABLE TO HOUSEHOLDS EARNING LESS THAN 50% OF THE AREA MEDIAN INCOME. WE ANTICIPATE CONSTRUCTION COMPLETION AND FULL OCCUPANCY BY THE END OF 2014.
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IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt08
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InsuranceGrp/FundraisingAmt0392
IRS990/InsuranceGrp/ManagementAndGeneralAmt02044
IRS990/InsuranceGrp/ProgramServicesAmt05327
IRS990/InsuranceGrp/TotalAmt07763
IRS990/InterestGrp/FundraisingAmt01243
IRS990/InterestGrp/ManagementAndGeneralAmt07024
IRS990/InterestGrp/ProgramServicesAmt013631
IRS990/InterestGrp/TotalAmt021898
IRS990/InventoriesForSaleOrUseGrp/BOYAmt03035561
IRS990/InventoriesForSaleOrUseGrp/EOYAmt02731947
IRS990/InvestmentIncomeGrp/ExclusionAmt0111
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0111
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsProgramRelatedGrp/BOYAmt0114251
IRS990/InvestmentsProgramRelatedGrp/EOYAmt0114251
IRS990/IRPDocumentCnt016
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt0100749
IRS990/LandBldgEquipBasisNetGrp/BOYAmt0197755
IRS990/LandBldgEquipBasisNetGrp/EOYAmt0206473
IRS990/LandBldgEquipCostOrOtherBssAmt0307222
IRS990/LegalDomicileStateCd0MN
IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt02734503
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0PRG'S MISSION IS TO PROVIDE AFFORDABLE HOUSING AND RELATED SERVICES THAT LEAD TO NEIGHBORHOOD STABILITY AND FAMILY SELF-SUFFICIENCY. WE ACCOMPLISH OUR MISSION BOTH BY DEVELOPING AFFORDABLE HOUSING IN PARTNERSHIP WITH NEIGHBORHOODS AND OTHER GROUPS, AND BY EDUCATING AND COUNSELING FIRST-TIME HOMEBUYERS AND HOUSEHOLDS AT RISK OF FORECLOSURE.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt0449692
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt0419112
IRS990/NetAssetsOrFundBalancesBOYAmt0523221
IRS990/NetAssetsOrFundBalancesEOYAmt0680157
IRS990/NetGainOrLossInvestmentsGrp/RelatedOrExemptFuncIncomeAmt06801
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt06801
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoncashContributionsAmt023533
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/FundraisingAmt0426
IRS990/OccupancyGrp/ManagementAndGeneralAmt01731
IRS990/OccupancyGrp/ProgramServicesAmt07578
IRS990/OccupancyGrp/TotalAmt09735
IRS990/OfficeExpensesGrp/FundraisingAmt0838
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt03262
IRS990/OfficeExpensesGrp/ProgramServicesAmt015395
IRS990/OfficeExpensesGrp/TotalAmt019495
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0913929
IRS990/OtherAssetsTotalGrp/EOYAmt01287361
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt01991
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt07440
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt033290
IRS990/OtherEmployeeBenefitsGrp/TotalAmt042721
IRS990/OtherExpensesGrp/Desc0DEBT FORGIVENESS
IRS990/OtherExpensesGrp/Desc1PROVISION FOR ANTICIPAT
IRS990/OtherExpensesGrp/Desc2BAD DEBTS
IRS990/OtherExpensesGrp/Desc3IN-KIND
IRS990/OtherExpensesGrp/FundraisingAmt059
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0297
IRS990/OtherExpensesGrp/ProgramServicesAmt0196807
IRS990/OtherExpensesGrp/ProgramServicesAmt1105000
IRS990/OtherExpensesGrp/ProgramServicesAmt224000
IRS990/OtherExpensesGrp/ProgramServicesAmt35577
IRS990/OtherExpensesGrp/TotalAmt0196807
IRS990/OtherExpensesGrp/TotalAmt1105000
IRS990/OtherExpensesGrp/TotalAmt224000
IRS990/OtherExpensesGrp/TotalAmt35933
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt012470
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt048315
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0208391
IRS990/OtherSalariesAndWagesGrp/TotalAmt0269176
IRS990/OtherWebsiteInd0X
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt075836
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt043348
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/FundraisingAmt01707
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt07501
IRS990/PayrollTaxesGrp/ProgramServicesAmt028137
IRS990/PayrollTaxesGrp/TotalAmt037345
IRS990/PermanentlyRstrNetAssetsGrp/BOYAmt0681348
IRS990/PermanentlyRstrNetAssetsGrp/EOYAmt00
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt044669
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt07845
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt04452
IRS990/PrincipalOfficerNm0KATHY WETZEL-MASTEL
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0531390
IRS990/ProgramServiceRevenueGrp/BusinessCd1531390
IRS990/ProgramServiceRevenueGrp/Desc0DEVELOPMENT/MARKETING
IRS990/ProgramServiceRevenueGrp/Desc1HOME BUYER COUNSELING
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0458620
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1168192
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0458620
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1168192
IRS990/ProgSrvcAccomActy2Grp/Desc0HOMEBUYER EDUCATION AND COUNSELING:IN 2013 PRG RAN 16 HOMEBUYER WORKSHOPS, SERVING 251 HOUSEHOLDS. PRG'S PRE-PURCHASED COUNSELORS ADVISED 96 FAMILIES DURING THE YEAR. THESE SERVICES ARE AVAILABLE TO ALL CLIENTS SEEKING INDEPENDENT, CONFIDENTIAL COUNSELING AND INFORMATION; HOWEVER, WE PLACE A HIGH PRIORITY ON MARKETING OUR SERVICES TO FIRST-TIME HOMEBUYERS AND MEMBERS OF UNDERSERVED GROUPS. WE ATTEND COMMUNITY EVENTS AND PARTNER WITH A VARIETY OF COMMUNITY ORGANIZATIONS. AS A RESULT OF THESE OUTREACH EFFORTS, THE STATISTICS ABOUT THE CLIENTS WE SERVE REFLECT THE COMMUNITY'S DIVERSITY. IN 2013: - 43% ARE HOUSEHOLDS OF COLOR. - 32% HAVE INCOMES UNDER 80% OF THE METRO AREA MEDIAN. - 50% HAVE INCOMES UNDER 50% OF THE AREA MEDIAN.FORECLOSURE COUNSELING:WE PROVIDED FREE, ONE-ON-ONE FORECLOSURE COUNSELING TO 85 FAMILIES. OF THOSE WHOSE CASES WERE RESOLVED IN 2013, 97% OF CLIENTS AVOIDED FORECLOSURE. AS A RESULT OF OUR TARGETED OUTREACH AND OUR LONG-TERM RELATIONSHIPS WITH COMMUNITY ORGANIZATIONS, A LARGE PERCENTAGE OF THOSE WE SERVE ARE MEMBERS OF UNDERSERVED GROUPS: - 32% HAVE INCOMES UNDER 80% OF THE MEDIAN. - 50% HAVE INCOMES UNDER 50% OF THE MEDIAN. - 33% ARE HOUSEHOLDS OF COLOR
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0154847
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt0168192
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt093786
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt070141
IRS990/PYOtherExpensesAmt0124434
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt0548449
IRS990/PYRevenuesLessExpensesAmt0134328
IRS990/PYSalariesCompEmpBnftPaidAmt0453614
IRS990/PYTotalExpensesAmt0578048
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0712376
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0156936
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0465421
IRS990/SavingsAndTempCashInvstGrp/BOYAmt050120
IRS990/SavingsAndTempCashInvstGrp/EOYAmt050134
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0378777
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt093786
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt068339
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0104923
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0267618
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0913443
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0111
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt055
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt037
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt067
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0706
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0976
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt02460255
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.94500
IRS990ScheduleA/PublicSupportPY170Pct00.89830
IRS990ScheduleA/PublicSupportTotal170Amt0864095
IRS990ScheduleA/SubstantialContributorsTotAmt049348
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0378777
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt093786
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt068339
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0104923
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0267618
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0913443
IRS990ScheduleA/TotalSupportAmt0914419
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt0148225
IRS990ScheduleD/BuildingsGrp/DepreciationAmt086661
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0234886
IRS990ScheduleD/DonatedServicesAndUseFcltsAmt02400
IRS990ScheduleD/DonatedServicesUseFcltsAmt02400
IRS990ScheduleD/EquipmentGrp/BookValueAmt018676
IRS990ScheduleD/EquipmentGrp/DepreciationAmt014088
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt032764
IRS990ScheduleD/ExpensesNotReportedAmt02400
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt0196807
IRS990ScheduleD/ExpensesSubtotalAmt0658758
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt039572
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt039572
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0718257
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1400354
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt2168750
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0CONTRACTS FOR DEED
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1ESCROW DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2DEVELOPMENT FEE RECEIVABLE
IRS990ScheduleD/OtherExpensesNotIncludedAmt0196807
IRS990ScheduleD/OtherRevenuesNotIncludedAmt0476186
IRS990ScheduleD/RevenueNotReportedAmt02400
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt0476186
IRS990ScheduleD/RevenueSubtotalAmt0536315
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0PRG IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND APPLICABLE MINNESOTA STATUTES AND IS SUBJECT TO INCOME TAXES ONLY ON NET UNRELATED BUSINESS INCOME. PRG IS NOT CURRENTLY UNDER EXAMINATION BY AY TAXING JURISDICTION. FEDERAL AND STATE TAX AUTHORITIES GENERALLY HAVE THE RIGHT TO EXAMINE THE PREVIOUS THREE YEARS OF INCOME TAX RETURNS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1SPIRIT ON LAKE DEVELOPMENT FEES 195,000. SPIRIT ON LAKE GRANT INCOME 281,186.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2DEBT FORGIVENESS 196,807.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XI, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART XII, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0206473
IRS990ScheduleD/TotalBookValueOtherAssetsAmt01287361
IRS990ScheduleD/TotalExpensesPerForm990Amt0855565
IRS990ScheduleD/TotalRevenuePerForm990Amt01012501
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0538715
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0661158
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0PRG'S EXECUTIVE DIRECTOR, FINANCE MANAGER, COMMUNICATION'S MANAGER, AND THE GOVERNING BOARD RECEIVE COPIES OF THE 990 AND REVIEW IT PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD OF DIRECTORS COMPLETE A CONFLICT OF INTEREST FORM ON AN ANNUAL BASIS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD OF DIRECTORS, WITH THE RECOMMENDATION OF THE PERSONNEL COMMITTEE, SET THE COMPENSATION OF THE EXECUTIVE DIRECTOR. A SALARY AND BENEFITS SURVEY ASSISTS IN DETERMINING THE COMPENSATION OF SIMILAR ORGANIZATIONS/POSITIONS. THE PERSONNEL COMMITTEE CONDUCTS AN ANNUAL PERFORMANCE REVIEW AT WHICH TIME ADJUSTMENTS ARE MADE. THE MINNESOTA COUNCIL OF NON-PROFITS SALARY AND BENEFIT SURVEY IS UTILIZED IN DETERMINING THE COMPENSATION OF SIMILAR POSITIONS AT SIMILAR ORGANIZATIONS. ADDITIONALLY, ALL EMPLOYEES ARE SUBJECT TO AN ANNUAL PERFORMANCE REVIEW AT WHICH TIME ADJUSTMENTS ARE MADE BASED ON PERFORMANCE, ORGANIZATIONAL FINANCES, AND THE EXTERNAL ENVIRONMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3GOVERNING DOCUMENTS, THE 990, AND AUDITED FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$5.40$3.44$1.97$1.29$1.25$0.05
2023Detailed filing. Detailed filing data is available for this year.$4.22$2.30$1.92$1.04$0.85$0.18
2022Detailed filing. Detailed filing data is available for this year.$4.23$2.49$1.73$0.93$0.86$0.07
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.71$2.05$1.66$0.97$0.80$0.18
2020Detailed filing. Detailed filing data is available for this year.$3.53$2.04$1.49$0.82$0.73$0.09
2019Detailed filing. Detailed filing data is available for this year.$4.17$2.78$1.39$0.83$0.69$0.14
2018Detailed filing. Detailed filing data is available for this year.$3.04$1.78$1.26$0.70$0.66$0.04
2017Detailed filing. Detailed filing data is available for this year.$3.08$1.96$1.13$0.91$0.59$0.32
2016Detailed filing. Detailed filing data is available for this year.$3.45$2.64$0.81$0.59$0.57$0.02
2015Detailed filing. Detailed filing data is available for this year.$3.24$2.45$0.79$0.84$0.80$0.04
2014Detailed filing. Detailed filing data is available for this year.$4.15$3.40$0.75$0.79$0.72$0.07
2013Detailed filing. Detailed filing data is available for this year.$4.57$3.89$0.68$1.01$0.86$0.16
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.64$4.12$0.52$0.58
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.69$4.20$0.49$0.55
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.75$4.29$0.46$0.61