Homeownership Advisors Newtork

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1 2016 Annual Report About Us is the state s leading independent, nonprofit provider of information and resources aimed at helping all Minnesotans to begin and maintain homeownership. Since 1993, we have served over 200,000 Minnesotans through our range of homeownership services, from pre-purchase education to foreclosure prevention counseling, financial wellness, and asset development. Our Approach Through strategic partnerships with nonprofit service providers, government, and industry, we provide resources, finances, information and technical assistance to our Homeownership Advisors Newtork that assists low- and moderate-income families to achieve equitable access to the information necessary for long-term, successful homeownership.

2 Key Program Results 12,261 Households Participated in HomeStretch, Framework or Homebuyer Counseling Visit hocmn.org for more info 1,566 Households Received Foreclosure Prevention Counseling 66% Avoid Foreclosure 30 Professionals Trained and Certified as Homeownership Advisors 2,188 Hours of Continuing Education and Technical Assistance Obtained by Homeownership Advisors via the Center 334 Real Estate Agents Received Continuing Education Credits 120,000 visitors sought reliable homeownership information via the Center s website 3,600 professionals rely on the Center s e-newsletter for trusted information on homeownership trends and data 2016 Conference: Opening Doors. Expanding Opportunity. In 2016, the Center hosted over 75 Homeownership Advisors, homebuyer educators and other financial counselors to our bi-annual Conference: Opening Doors, Expanding Opportunity. The Conference offered homeownership advisors and educators the latest in housing trends and innovative practices, opportunities to network with other homeownership professionals and continuing education focused on advancing racial equity and improving financial wellbeing for low-income households and communities of color. Homebuyer Counseling Program Expands to Include Financial Wellness In 2016, the Center worked with our Network and several national partners to add financial wellness to our prepurchase homebuyer education and counseling model. This focused programming is designed to meet the needs of diverse households and address the financial wellness needs of those facing significant barriers to future homeownership. The activities covered under our new model include: money management, establishing or improving credit, programs and products to build savings and avoiding scams and dangerous alternative products. Center Partners with Department of Commerce to offer CE workshop In April of 2016, the Center partnered with the MN Department of Commerce, MN Housing, and the MN Association of REALTORS to offer 3 hours of continuing education for real estate agents. The course, titled Addressing Barriers to Homeownership: Ensuring Equity in Minnesota s Changing Market, equipped more than 150 agents with information, tips and resources to better offer homeownership opportunities to Minnesota s growing multicultural and minority communities. Highlighting demand for equity-focused information, the workshop sold out in less than two hours.

3 The Homeownership Advisors Network is a statewide association of agencies providing homebuyer services, foreclosure counseling, reverse mortgage counseling, and other homeownership support. Led by the Minnesota Homeownership Center, the Network is committed to ensuring that Minnesotans have access to non-biased, trusted education and personalized advice on topics related to buying a home and sustaining homeownership. The Homeownership Center and the Homeownership Advisors Network are committed to ensuring that all Minnesotans are provided consistent, current, high-quality services and have access to non-biased information about buying a home, credit and fiancial issues and foreclosure avoidance. Homeownership Advisors Network 1st Home Network African Development Center African Economic Development Solutions African Families Development Network Anoka County Community Action Program Arrowhead Economic Opportunity Agency Bi-County Community Action Program Bii Gii Wiin Carver County Community Development Agency Central Minnesota Housing Partnership Comunidades Latinas Unidas en Servicio (CLUES) City of Mankato, Economic Development Agency City of St. Paul Planning & Economic Development Community Action Duluth Community Action Partnership of Hennepin County Dakota County Community Development Agency Headwaters Regional Development Commission Hmong American Partnership KOOTASCA Community Action Lakes and Prairies Community Action LSS Financial Counseling Model Cities, Inc. Neighborhood Development Alliance NeighborWorks Home Partners Northwest Community Action Agency One Roof Community Housing PRG, Inc. Project for Pride in Living, Inc (PPL) Reverse Mortgage Counselors, Inc. Rochester-Olmsted Community Housing Partnership Scott County Community Development Agency Southwest Minnesota Housing Partnership Strickland Associates Three Rivers Community Action Twin Cities Habitat for Humanity Umoja Community Development Corporation Washington County Community Development Agency West Central Minnesota Communities Action White Earth Investment Initiative Wright County Community Action Lao Assistance Center

4 FINANCIAL OVERVIEW Income Total: $3,896,821 33% Grants & Contracts 14% Other* 39% Social Enterprise *Other Income includes loan repayments, sales of Home Stretch manuals, interest and earned income. Expense Total: $2,223,225 92% Program Services 12% Contributions 2% In-Kind NET ASSETS 2015: $3,410,151 NET ASSETS 2016: $5,083,747 5% Management & General 3% Fundraising CHANGE Net Assets: $1,673,596 For a detailed balance sheet, click here. Robyn Bipes Chris Boulton Julie Gugin Nancy Hostetler Andersen Corporate Foundation Bank of the West Bell Bank Mortgage Bremer Bank Bank of America BMO Harris Bank Fannie Mae Greater Minnesota Housing Fund City of St. Paul Planning and Economic Development City of Minneapolis, Community Planning and Economic Development Hennepin County McKnight Foundation FUNDRAISING Individual Donors Up to $9,999 $10,000 to $49,999 $50,000 to $99,999 Minnesota Department of Commerce Over $100,000 Mary Lynn Jahnke Kasey Kier Keenan Raverty Coldwell Banker Burnet HRK Foundation SFM Jay and Rose Phillips Family Foundation of Minnesota TCF Foundation USDA Rural Development Otto Bremer Foundation Target Foundation Minnesota Housing US Bank U.S. Department of Housing and Urban Development Wells Fargo Thank You!

5 Board of Directors President: Vicki Shipley US Bank Vice President: Robyn Bipes Twin Cities Habitat for Humanity Treasurer: David Lindstrom BMO Harris Bank Secretary: Jill Aleshire Caribou Coffee Christine Berger Minnesota Association of REALTORS Marilyn Bruin University of Minnesota Joe Collins City of Saint Paul, Planning and Economic Development Darielle Dannon Metropolitan Consortium of Community Developers Rosey Dickey TCF National Bank Jim Erchul Dayton s Bluff Neighborhood Housing Services Mike Happe SFM Risk Solutions Kasey Kier Minnesota Housing Sara Kraft Bremer Bank Noel Nix Ramsey County Robin Peterson Coldwell Banker Burnet Keenan Raverty Bell Banks Mortgage Cherie Shoquist City of Minneapolis Community Planning and Economic Development Osborne Strickland First Home Network, Inc. Minnesota Home Ownership Center s Advisory Council Stephanie Vergin USDA Rural Development David Weise Wells Fargo Bank Center Staff Executive Director Julie Gugin Director, Customer Service, Framework Sean Hawkins Marketing & Communications Ed Nelson VP, Product Development, Framework Monique Yenamandra Program Director Karen Pederson Program Manager, Framework Laura Grevas Program Director Dana Snell Customer Service, Framework Karen Calva Program Director Debbie Wuerffel Customer Service, Framework Judy Solís HUD Program Manager Steph Stull Customer Service, Framework Annie Donegan Program Manager Shannon Eckman