Nonprofit · EIN 41-2004557
FIRST HOMES PROPERTIES
Tax-exempt · ROCHESTER, MN 55901
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 (amended) | $2,969,106 | $1,953,116 | $1,015,990 | $19,924,240 | $3,926,951 | $15,997,289 |
| December 31, 2023 | 990 | $1,865,211 | $992,319 | $872,892 | $20,946,653 | $5,965,354 | $14,981,299 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $2,031,387
- of which government grants
- $1,126,120
- Program service revenue
- $783,490
- Investment income
- $43,054
- Other revenue
- $111,175
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $44,031
- Other salaries and wages
- $265,789
- Salaries, compensation and benefits (total)
- $375,077
- Professional fundraising fees
- $0
- Legal fees
- $517
- Accounting fees
- $31,780
- Travel
- $3,551
- Depreciation
- $80,891
- Program services (functional)
- $1,666,659
- Management and general (functional)
- $257,290
- Fundraising (functional)
- $29,167
Balance sheet and other
- Total assets, start of year
- $20,946,653
- Total assets, end of year
- $19,924,240
- Total liabilities, end of year
- $3,926,951
- Net assets, end of year
- $15,997,289
- Land, buildings and equipment
- $4,791,680
- Net assets without donor restrictions
- $2,281,462
- Net assets with donor restrictions
- $13,715,827
- Gross receipts
- $2,969,106
- Employees
- 0
- Volunteers
- 11
- Year formed
- 2001
- State of legal domicile
- MN
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| JENNIFER WOODFORD | PRESIDENT Officer | 11 | $41,741 | $125,223 | $9,160 |
| LISA LUNDQUIST | CHAIR Trustee or director, Officer | 0.5 | $0 | $0 | $0 |
| MIKE BECKER | CHAIR (UNTIL 5/14/24) Trustee or director, Officer | 0.5 | $0 | $0 | $0 |
| KIM WOODRUFF | VICE CHAIR Trustee or director, Officer | 0.5 | $0 | $0 | $0 |
| TAMSEN LEIMER | TREASURER Trustee or director, Officer | 1 | $0 | $0 | $0 |
| ALYSSA FORDHAM VAGT | SECRETARY Trustee or director, Officer | 0.5 | $0 | $0 | $0 |
| MELISSA DICKISON | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
| WAFA ELKHALIFA | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
| SARA GOVRIK | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
| MIKE PARADISE | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
| LAUREL PODULKE-SMITH | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
| CHRIS STROUD | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
| SARA TEKLE | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
| MARK THEIN | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
990 for the year ended December 31, 2023: 13 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| JENNIFER WOODFORD | PRESIDENT Officer | 11 | $38,450 | $115,350 | $8,348 |
| MIKE BECKER | CHAIR Trustee or director, Officer | 0.5 | $0 | $0 | $0 |
| KIM WOODRUFF | VICE CHAIR Trustee or director, Officer | 0.5 | $0 | $0 | $0 |
| TAMSEN LEIMER | TREASURER Trustee or director, Officer | 1 | $0 | $0 | $0 |
| LISA LUNDQUIST | SECRETARY Trustee or director, Officer | 0.5 | $0 | $0 | $0 |
| MELISSA DICKISON | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
| WAFA ELKHALIFA | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
| ALYSSA FORDHAM VAGT | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
| MIKE PARADISE | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
| LAUREL PODULKE-SMITH | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
| CHRIS STROUD | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
| SARA TEKLE | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
| MARK THEIN | DIRECTOR Trustee or director | 0.5 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 12 ELTON HILLS DR NW, ROCHESTER, MN 55901-3538
- In care of
- % STEVE THORNTON
- Principal officer (990 for 2024)
- JENNIFER WOODFORD, 12 ELTON HILLS DR NW, ROCHESTER, MN 55901
- Signed the 990
- JENNIFER WOODFORD, PRESIDENT
- Phone
- (507) 424-2400
- Website
- WWW.FIRSTHOMES.ORG
- Return prepared by
- RSM US LLP
Mission
TO PROVIDE OPPORTUNITIES FOR LOW AND MODERATE-INCOME HOUSEHOLDS IN SOUTHEASTERN MINNESOTA COUNTIES TO SECURE HOUSING THAT IS DECENT AND AFFORDABLE.
Program accomplishments
- FIRST HOMES HAS BEEN A LEADER IN AFFORDABLE HOUSING DEVELOPMENT AND ASSOCIATED LENDING IN SOUTHEAST MINNESOTA SINCE 2000. FIRST HOMES HAS HELPED TO PRODUCE AND FINANCE MORE THAN 1,100 UNITS OF WORKFORCE HOUSING INCLUDING SINGLE FAMILY NEW CONSTRUCTION AND PURCHASE REHAB, COMMUNITY LAND TRUST, AND MULTI-FAMILY RENTAL PROJECTS.Expenses $1,666,659 · revenue $883,490
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 41-2004557
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Supporting organization (509(a)(3))
- Donations deductible (Pub 78)
- Supporting organization of unknown type
- Exempt since
- 2001
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Housing and shelter (L20)
- Assets (IRS master file)
- $19,924,240
- Income (IRS master file)
- $2,969,106
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $2,969,106 | $1,953,116 | $19,924,240 | XML |
| 990 | December 2023 | $1,865,211 | $992,319 | $20,946,653 | XML |
| 990 | December 2022 | $1,361,871 | $1,072,263 | $17,370,195 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 41-2004557).
Questions about FIRST HOMES PROPERTIES
- What is the EIN of FIRST HOMES PROPERTIES?
- The employer identification number (EIN) of FIRST HOMES PROPERTIES is 41-2004557.
- Is FIRST HOMES PROPERTIES tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2001.
- Are donations to FIRST HOMES PROPERTIES tax-deductible?
- Yes. It is listed in IRS Publication 78 (Supporting organization of unknown type).
- Which annual return does FIRST HOMES PROPERTIES file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of FIRST HOMES PROPERTIES due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did FIRST HOMES PROPERTIES last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of FIRST HOMES PROPERTIES?
- The 990 for the year ended December 31, 2024 names JENNIFER WOODFORD.
- Who are the officers and directors of FIRST HOMES PROPERTIES?
- The 990 for the year ended December 31, 2024 lists 14 people; 1 received compensation from the organization, the highest $41,741 (JENNIFER WOODFORD, PRESIDENT).
- How much revenue does FIRST HOMES PROPERTIES have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $2,969,106, expenses of $1,953,116 and total assets of $19,924,240 at year end.
Other nonprofits in ROCHESTER
- ZUMBRO RIDGE ESTATES INC EIN 82-1446789 · last filed 990 for 2025
- RCIL-ROCHESTER BARRIER FREE HOUSING CORPORATION EIN 36-3261853 · last filed 990 for 2025
- PHILOXENIA CHARITIES EIN 84-1883469 · last filed 990-EZ for 2024
- ROCHESTER HOUSE OF SHIELDS INC EIN 81-0916932 · last filed 990-EZ for 2025
- SOCIETY OF SAINT VINCENT DE PAUL HOLY SPIRIT CONFERENCE EIN 47-4791855 · last filed 990-EZ for 2025
- NEURO HOSPITALITY HOUSE EIN 26-2357256 · last filed 990 for 2025
- LIFE COMMUNITY DEVELOPMENT CORP EIN 47-2477388 · last filed 990-N for 2024
- LORDS DISCIPLESHIP HOUSE EIN 99-3124177 · last filed 990-N for 2024
All nonprofits in ROCHESTER · Minnesota · Housing and shelter