Mission
TO PROVIDE OPPORTUNITIES FOR LOW AND MODERATE-INCOME HOUSEHOLDS IN SOUTHEASTERN MINNESOTA COUNTIES TO SECURE HOUSING THAT IS DECENT AND AFFORDABLE.
Public Charity
FIRST HOMES PROPERTIES
FIRST HOMES PROPERTIES is a Public Charity headquartered in ROCHESTER, MN. Financial data from the 2024 filing: $3.0M revenue, $2.0M expenses, $19.9M total assets. 6 publicly reported grants to this organization, totaling roughly $3.6M, appear in IRS filings.
EIN: 412004557
ROCHESTER, MN
Housing Development, Construction & Management
NTEE: L20
Latest filing: 2024
Total Revenue$3.0M
Total Expenses$2.0M
Total Assets$19.9M
Grant Records6
Funding Total$3.6M
Filing Years2019–2024
Where $100 goes at First Homes Properties
How First Homes Properties divides every $100 it spends, from its own Form 990 filings, averaged across 7 years.
$78
Programs
the work itself
$20
Management
running the organization
$2
Fundraising
raising the next dollar
Inside the $78 for programs
$78
First homes has been a leader in affordable housing development and associated lending in southeast minnesota since 2000
Source: Form 990 filings with the IRS, latest fiscal year 2024. Shares are from the organization's reported expenses. Data by Imperigo; not affiliated with the IRS.
Sample Grants Received
GENERAL SUPPORT
$700,075
GENERAL SUPPORT
$700,075
HOUSING
$1,121,522
PROGRAM SUPPORT
$632,880
PROJECTS
$340,000
Showing up to 5 of 6 total records — full history available with membership.
Officers & Directors
SECRETARY
Alyssa Fordham Vagt
DIRECTOR
Chris Stroud
PRESIDENT
Jennifer Woodford
VICE CHAIR
Kim Woodruff
DIRECTOR
Laurel Podulke-Smith
CHAIR
Lisa Lundquist
Officer compensation and complete director data available with membership.
Top Grant Purposes
Financial Trends
| Year | Revenue | Expenses | Assets |
|---|---|---|---|
| 2024 | $3.0M | $2.0M | $19.9M |
| 2023 | $1.9M | $992K | $20.9M |
| 2022 | $1.4M | $1.1M | $17.4M |
| 2020 | $2.2M | $1.2M | $15.5M |
| 2019 | $375K | $428K | $10.4M |
Between 2019 and 2024, reported annual revenue grew from $375K to $3.0M (+692%), with total assets most recently reported at $19.9M.
Interactive year-over-year charts and full filing details available with membership.