Program areas at Build Wealth MN
Provide families and individuals with developmental products and services which include favorable financing, education, financial literacy training, technical assistance, access to resources to empower them to become self sufficient. Helping them access affordable housing opportunities, workforce readiness, small business development technical assistance, services to Build assets, financial capability & Wealth. Collaborate with community partners to expand access to resources and opportunities to the underserved.
Who funds Build Wealth MN
Grants from foundations and other nonprofits
| Grantmaker | Grantmaker tax period | Description | Amount |
|---|
| Bush Foundation | 2022-12 | Build Wealth Minnesota (BWM) Will Scale Low-Barrier Mortgage Loan Programs To Increase Black Homeownership By 15% in the Twin Cities. the 9,000 Equities Fund Will Leverage Philanthropic and Public Investment To Transform Mortgage Lending By Providing 9,000 Low-Barrier Mortgage Loans To Borrowers With Low Incomes. BWM Plans To Raise $100 Million in Capital Needed for A Permanent Revolving Mortgage Loan Fund To Achieve Its Goal Over 10 Years. Financial Coaching and Training Will Prepare A Pipeline of Homebuyers To Receive Down Payment Assistance and An Affordable Mortgage for Sustainable Homeownership. Affordable Mortgage Loans and Long-Term Assistance By BWM Will Grow Equity in Their Homes and Lead To Wealth Creation By Black Families. | $1,187,500 |
| Family Housing Fund | 2022-12 | Building Equity Down Payment Assistance | $1,141,500 |
| Northwest Area Foundation | 2022-12 | Family Stabilization Plan Program | $300,000 |
| ...and 12 more grants received |
Personnel at Build Wealth MN
| Name | Title | Compensation | Date of data |
|---|
| David McGee | Executive Director | $419,664 | 2023-07-13 |
| Kevin Rudolph | Chair | $0 | 2021-12-31 |
| David Oguamanam | Treasurer | $0 | 2020-12-31 |
Financials for Build Wealth MN
| Revenues | FYE 12/2022 | FYE 12/2021 | % Change |
|---|
| Total grants, contributions, etc. | $8,361,442 | $3,782,247 | 121.1% |
| Program services | $291,905 | $220,491 | 32.4% |
| Investment income and dividends | $0 | $0 | - |
| Tax-exempt bond proceeds | $0 | $0 | - |
| Royalty revenue | $0 | $0 | - |
| Net rental income | $0 | $0 | - |
| Net gain from sale of non-inventory assets | $0 | $0 | - |
| Net income from fundraising events | $0 | $0 | - |
| Net income from gaming activities | $0 | $0 | - |
| Net income from sales of inventory | $0 | $0 | - |
| Miscellaneous revenues | $0 | $0 | - |
| Total revenues | $8,653,347 | $4,002,738 | 116.2% |
Organizations like Build Wealth MN
| Organization | Type | Location | Revenue |
|---|
| Literacy Council of Tyler (LCOT) | 501(c)(3) | Tyler, TX | $3,762,526 |
| Community-Campus Partnerships for Health | 501(c)(3) | Raleigh, NC | $2,793,713 |
| The Center Resources for Teaching and Learning | 501(c)(3) | Arlington Heights, IL | $12,914,768 |
| Literacy Assistance Center (LAC) | 501(c)(3) | New York, NY | $2,348,883 |
| Literacy Minnesota | 501(c)(3) | Saint Paul, MN | $5,962,310 |
| Hi-Tech Charities | 501(c)(3) | Saint Louis, MO | $3,168,197 |
| Literacy Partners | 501(c)(3) | New York, NY | $4,128,478 |
| MT Calvary Leadership Development Corporation | 501(c)(3) | Burgaw, NC | $2,261,748 |
| The Columbus Literacy Council | 501(c)(3) | Columbus, OH | $4,536,425 |
| Literacy Kansas City | 501(c)(3) | Kansas City, MO | $3,294,201 |
Data update history
August 26, 2023
Posted financials
Added Form 990 for fiscal year 2022
August 24, 2023
Updated personnel
Identified 3 new personnel
August 19, 2023
Received grants
Identified 9 new grant, including a grant for $1,141,500 from Family Housing Fund August 14, 2023
Posted financials
Added Form 990 for fiscal year 2021
Nonprofit Types
SchoolsAdult education providersFamily service centersCharities
Issues
Education
Characteristics
Receives government fundingTax deductible donations
General information
- Address
- 1256 Penn Ave N
- Minneapolis, MN 55411
- Metro area
- Minneapolis-St. Paul-Bloomington, MN-WI
- County
- Hennepin County, MN
- Website URL
- buildwealthmn.org/Â
- Phone
- (612) 877-4182
IRS details
- EIN
- 25-1918239
- Fiscal year end
- December
- Taxreturn type
- Form 990
- Year formed
- 2004
- Eligible to receive tax-deductible contributions (Pub 78)
- Yes
Categorization
- NTEE code, primary
- B60: Adult, Continuing Education
- NAICS code, primary
- 624190: Individual and Family Services
- Parent/child status
- Independent
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