2025-09-11T10:10:46+00:00 2024-12-31 440160260 Forvis Mazars LLP 211 N Broadway Suite 600 St Louis MO 631022733 990 2024-01-01 431769074 Justine Petersen Housing And Reinvestment Corporation JUST 3145332411 1023 N Grand Blvd Saint Louis MO 63106 SONIA SMITH MEMBER 3145332411 2025-09-11 true Kristen Hankins P01256574 3142315544 2025-09-11 2024 2025-03-06 01:10:19Z ROBERT BOYLE 1023 N Grand Blvd Saint Louis MO 63106 14358749 false X www.justinepetersen.org X 1997 MO CREATE ENDURING CHANGE FOR LOW/MODERATE INCOME FAMILIES VIA HOUSING, SAVINGS AND ECONOMIC DEV. 4 4 60 23 0 10302073 8092633 4809518 5943117 -1168 17930 -96426 -77912 15013997 13975768 0 0 0 0 3874718 4018401 0 0 253330 7914046 8842871 11788764 12861272 3225233 1114496 73969952 86298350 53027486 64820787 20942466 21477563 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. false false 9890575 0 5883135 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. 1773454 0 0 HOUSING - AS A HUD CERTIFIED HOUSING COUNSELING AGENCY, COUNSELORS ASSIST LOW TO MODERATE INCOME FAMILIES AND INDIVIDUALS TO ADDRESS CREDIT AND OTHER BARRIERS TO PURCHASING OR REFINANCING A HOME. JUSTINE PETERSEN IMPLEMENTS FINANCIAL COUNSELING, STRATEGIES AND PRODUCTS INCLUDING BUDGETING, FINANCIAL EDUCATION, LOAN COUNSELING AND HOMEBUYER EDUCATION TO ASSIST HOMEOWNERS STRUGGLING TO PAY THEIR MORTGAGES AND NEGOTIATING WITH THEIR LENDER. 381870 0 0 SAVINGS - JUSTINE PETERSEN BELIEVES THAT A STRONG CREDIT PROFILE IS ONE'S MOST IMPORTANT FINANCIAL ASSET AND OUR COUNSELORS TEACH HOW TO BUILD AND MAINTAIN A STRONG CREDIT PROFILE. IN 2024, 1,062 LOW- AND MODERATE-INCOME INDIVIDUALS PARTICIPATED IN JUSTINE PETERSEN'S CREDIT BUILDING SERVICES. AS A LEADER IN THE CREDIT BUILDING AND FINANCIAL CAPABILITY FIELD, JUSTINE PETERSEN TEACHES FINANCIAL COUNSELORS ACROSS THE COUNTRY HOW TO OFFER CREDIT BUILDING SERVICES THROUGH OUT CREDIT BUILDING NATION INITIATIVE. 12045899 true true false false false false false false true false true false false true true true false true false false false false false false false false false false false true false false false false false true false false true false false false false false true true true true false false true 24 0 true 60 true false false false false false false false false false false false false X 4 4 false false false false false false false true true false false false true true true true true true true true true true IL X X SHERI FLANIGAN-VAZQUEZ 3145332411 1023 N GRAND BLVD ST LOUIS MO 63106 ALLAN D IVIE IV TREASURER 3.0 3.0 X X 0 0 0 EDDIE DAVIS PRESIDENT 3.0 3.0 X X 0 0 0 ROCHELLE BEA SECRETARY 3.0 3.0 X X 0 0 0 ANGELA BURRAGE MEMBER 2.0 2.0 X 0 0 0 ROBERT BOYLE CHIEF EXECUTIVE OFFICER 40.0 1.0 X 190250 0 15386 SHERI FLANIGAN-VAZQUEZ CHIEF OPERATING OFFICER 40.0 1.0 X 230250 0 16803 AIDA RICHARDSON CHIEF LENDING OFFICER 40.0 1.0 X 176250 0 15088 ERIC OSTERBERG DIRECTOR OR RESOURCE DEVELOPMENT / STAKEHOLDER ENGAGEMENT 40.0 0.0 X 103250 0 0 700000 0 47277 4 false true false 0 100923 4734721 3256989 8092633 LOAN/ADMINISTRATIVE 522291 3006259 3006259 LOAN INTEREST 522291 2806599 2806599 DEVELOPMENT FEE REVENUE 531390 88898 88898 CREDIT REPORT INCOME 900099 9123 9123 REAL ESTATE BROKERAGE INCOME 900099 32238 32238 0 0 0 0 5943117 294006 371918 -77912 0 -77912 -77912 28993 11063 0 17930 17930 17930 0 0 0 0 0 0 13975768 5883135 0 0 X 0 0 452690 401264 35446 15980 156498 156498 2756047 2433356 222418 100273 68470 60692 5361 2417 336334 298126 26335 11873 248362 220148 19447 8767 41155 36480 3222 1453 301891 267486 23753 10652 0 0 1347979 1194849 105546 47584 63390 56189 4963 2238 764053 692376 49404 22273 33474 29671 2621 1182 42188 37622 3147 1419 44381 39339 3475 1567 2302337 2302337 0 0 107805 95558 8441 3806 437035 387955 33829 15251 BAD DEBT EXPENSE 2332983 2332983 0 0 SUBSIDIZED LOSS 711935 711935 0 0 CLIENT ACCOUNT ADJUSTMENTS 120313 120313 0 0 CREDIT REPORT CHARGES 65823 58345 5154 2324 126129 112377 9481 4271 12861272 12045899 562043 253330 5057017 10676975 2337262 3324071 0 0 903408 1386474 48007 37432 0 0 32702174 40386781 0 0 19796 0 11441565 1131330 10240056 10310235 0 0 0 452194 452194 0 0 22210038 19724188 73969952 86298350 747714 609822 0 0 1539385 531903 0 0 0 0 0 0 49013026 63671927 0 0 1727361 7135 53027486 64820787 X 20288343 21147563 654123 330000 20942466 21477563 73969952 86298350 X 1114496 -579399 X X false true true true true X 9822719 4429639 5907342 10302073 8092633 38554406 2611067 3311660 3659182 4809518 5943117 20334544 0 0 0 12433786 7741299 9566524 15111591 14035750 58888950 0 0 10 0 52 62 0 633081 565552 343288 37115 1579036 0 633081 565562 343288 37167 1579098 57309852 251204 271027 172911 278296 294006 1267444 0 251204 271027 172911 278296 294006 1267444 0 0 0 0 0 0 0 12684990 8012326 9739435 15389887 14329756 60156394 0.95268 0.93458 0.02 0.02 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false true X 66574 65000 131574 1976289 1507660 595598 2888351 7596960 0 472905 7124055 0 229082 62827 166255 0 0 0 10310235 DUE FROM AFFILIATES 11562928 ACCRUED INTEREST RECEIVABLE 658634 INVESTMENT IN SUBSIDIARY 4008664 OTHER 2898856 OTHER RECEIVABLES 595106 19724188 Federal Income Taxes SECURITY DEPOSITS 7135 7135 X 13516679 1725 -460814 -459089 13975768 0 0 13975768 13262424 1725 27509 371918 401152 12861272 0 0 12861272 Schedule D, Part IV, Line 2b Explanation of escrow agreement THE CLIENT HOLDS FUNDS FOR LOAN DISBURSEMENT. THERE WERE NO FUNDS HELD AT DECEMBER 31, 2024. Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote JUSTINE PETERSEN IS EXEMPT FROM INCOME TAXES UNDER SECTION 501 OF THE INTERNAL REVENUE CODE AND A SIMILAR PROVISION OF THE STATE LAW. HOWEVER, THIS ENTITY IS SUBJECT TO FEDERAL INCOME TAX ON ANY UNRELATED BUSINESS INCOME. MANAGEMENT BELIEVES THERE ARE NO UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2024 AND 2023. THE CORPORATION FILES ALL TAX RETURNS IN THE U.S. FEDERAL JURISDICTION. THE CORPORATION'S TAX RETURNS ARE SUBJECT TO EXAMINATION BY THE RESPECTIVE TAXING AUTHORITIES, GENERALLY FOR THREE YEARS AFTER THEY WERE FILED. Schedule D, Part XI, Line 2(d) Other revenues in audited financial statements not in form 990 RENTAL EXPENSE RECLASSIFIED AGAINST INCOME - 371918 EQUITY IN EARNINGS OF SUBSIDIARIES - -832732 Schedule D, Part XII, Line 2(d) Other expenses in audited financial statements not in form 990 RENTAL EXPENSE RECLASSIFIED AGAINST INCOME - 371918 X X false false false false false false false false false ROBERT BOYLE CHIEF EXECUTIVE OFFICER 190000 0 250 0 0 0 6650 0 8736 0 205636 0 0 0 SHERI FLANIGAN-VAZQUEZ CHIEF OPERATING OFFICER 225000 0 5250 0 0 0 7875 0 8928 0 247053 0 0 0 AIDA RICHARDSON CHIEF LENDING OFFICER 176000 0 250 0 0 0 6160 0 8928 0 191338 0 0 0 ROBERT BOYLE CEO SALARY ADVANCE X 37432 37432 false true true 37432 PATRICK BOYLE FAMILY MEMBER OF OFFICER 66750 EMPLOYMENT false JAMES BOYLE FAMILY MEMBER OF OFFICER 89748 EMPLOYMENT false Schedule L, Part II, Column (h) ADDITIONAL INFORMATION ON SALARY ADVANCE JUSTINE PETERSEN'S PERSONNEL MANUAL, WHICH INCLUDES A HUMAN RESOURCES POLICY THAT ALLOWS EMPLOYEES TO REQUEST SALARY ADVANCES, IS REVIEWED AND APPROVED BY THE GOVERNING BODY. THE SALARY ADVANCES REPORTED IN PART II ARE DOCUMENTED VIA WRITTEN REQUEST OR EMAIL BY THE EMPLOYEE AS ALLOWED AND APPROVED BY THE PERSONNEL MANUAL AND HR POLICY. Form 990, Part VI, Line 11b Review of form 990 by governing body JUSTINE PETERSEN HOUSING AND REINVESTMENT CORPORATION'S 990 IS FIRST REVIEWED BY THE CHIEF OPERATING OFFICER (COO). ONCE THE COO APPROVES THE 990, IT IS THEN PRESENTED TO THE BOARD OF DIRECTORS FOR THEIR REVIEW AND APPROVAL. THE CHIEF EXECUTIVE OFFICER (CEO) THEN REVIEWS THE 990. ONCE THE CEO APPROVES THE 990 IT IS SIGNED AND THE ORGANIZATION'S ACCOUNTANTS ARE NOTIFIED OF THE CONSENT TO FILE THE FORM. Form 990, Part VI, Line 12c Conflict of interest policy SENIOR MANAGEMENT REVIEWS THE APPLICATION OF THE CONFLICT OF INTEREST POLICY ON ANY REAL OR PERCEIVED ISSUES THAT OCCURRED DURING THE YEAR. THE APPROPRIATENESS OF THE POLICY IS DISCUSSED WITH ATTENTION TO THE REQUIREMENTS OF FUNDING SOURCES. IF MODIFICATIONS TO THE POLICY ARE NECESSARY, THEY ARE PRESENTED FOR BOARD APPROVAL. THE BOARD OF DIRECTORS SIGN A STATEMENT YEARLY THAT CONFIRMS THAT THEY HAVE READ AND ARE STILL FOLLOWING THE CONFLICT OF INTEREST POLICY. Form 990, Part VI, Line 15a Process to establish compensation of top management official JUSTINE PETERSEN HOUSING AND REINVESTMENT CORPORATION DETERMINES COMPENSATION FOR ITS CHIEF EXECUTIVE OFFICER BY COMPARING SALARIES OF OTHER CEOS IN SIMILAR INDUSTRIES. PROPOSED COMPENSATION IS THEN APPROVED BY THE BOARD. Form 990, Part VI, Line 15b Process to establish compensation of other employees JUSTINE PETERSEN HOUSING AND REINVESTMENT CORPORATION DETERMINES COMPENSATION FOR ITS OFFICIALS AND DIRECTORS BY COMPARING SALARIES OF OTHER OFFICERS IN SIMILAR INDUSTRIES. THE ORGANIZATION NEGOTIATES WITH THE CHIEF EXECUTIVE OFFICER AND CHIEF OPERATING OFFICER TO DETERMINE COMPENSATION FOR THESE KEY POSITIONS. Form 990, Part VI, Line 19 Required documents available to the public JUSTINE PETERSEN HOUSING AND REINVESTMENT CORPORATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC BY PROVIDING COPIES TO THOSE WHO REQUEST THE AFOREMENTIONED DOCUMENTS. Form 990, Part IX, Line 11g Other Fees OTHER PROFESSIONAL FEES - Total Expense: 701928, Program Service Expense: 622189, Management and General Expenses: 54961, Fundraising Expenses: 24778; CONSULTING FEES - Total Expense: 646051, Program Service Expense: 572660, Management and General Expenses: 50585, Fundraising Expenses: 22806; Form 990, Part XI, Line 9 Other changes in net assets or fund balances IMPAIRMENT LOSS - -27509; NET ASSETS OBTAINED THROUGH AFFILIATION - 280842; EQUITY IN EARNINGS OF SUBSIDIARIES - -832732; Form 990, Part XII, Line 2c Change of oversight process or selection process THE ORGANIZATION HAS A FINANCE COMMITTEE THAT OVERSEES THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF THE INDEPENDENT ACCOUNTANT. THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEARS. 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