ANNUALREPORT

prg K n o w l e d g e t h a t h e l p s .Homes that fit.

2019

22001199PRG combines community-

based affordable housingdevelopment with

education and advising tohelp all people and

neighborhoods thrive.We envision a future whereall people have equitableaccess to knowledge thathelps, and homes that fit

their needs.

CAUSE FOR CELEBRATION

2019 was a time for celebration, as ourhomeownership advisors helped an estimated250 households of color realize their dreams ofbecoming homeowners. Whenever one of ourclients closed on a new home, we would ring inthe occasion by ringing the bell.

WHO'S BUYING?From our triennial survey data:

A lower percentage of program participants arebuying within 3 years, reflecting stagnant wages andincreased market values.

But, the disparity in rates of purchase by PRG clientsbetween white households and households of colornarrowed from 30% in 2016 to 21% in 2019 (thestatewide disparity is currently at 36%).

We are doubling down on our commitment toeliminate the racial homeownership disparity(in 2016, two in four clients were persons ofcolor, while in 2019 three in four were).

Homeownership Services

478Our 18 homebuyer workshops in north &south Minneapolis provided education to478 households.

318PRG provided free, 1-on-1, pre-purchase advising to 318 families.78% were  households of color.

Of the workshop attendees, 65% had incomesunder 80% AMI, 39% had incomes under 50% AMI, and75% were households of color.

21%

Of 2019 advising participants,82% had incomes under 80%AMI, 44% had incomes under50% AMI, and 78% werehouseholds of color.

250Our pre-purchase services translates toapproximately 250 new homeowners ofcolor annually.

Narrowed the gap betweenwhite clients and those of colorthat go on to buy from 30% in2016 to 21% in 2019

Since 2009, PRG has played a critical role in averting 665foreclosures, saving nearly $52 million in costs tohomeowners, lenders and local government.

In 2019, we provided foreclosure prevention assistance at nocost to 43 families. Of the cases resolved in 2019, 70%avoided foreclosure.

Of foreclosure advising clients, 81% had incomes under 80%AMI, 65% had incomes under 50% AMI, and 40% werehouseholds of color.

Foreclosure Prevention 

In 2019, PRG sold 6 homes, all but one purchasedby households of color, bringing the 10-year totalto 105. Of 2019 sales, all buyers had incomesunder 80% AMI with the average median incomeat 55% AMI, including one household of 10 fromMinneapolis Public Housing, freeing up a largefamily unit for our neediest neighbors.

Development

In September of 2019 I reached my 10-year anniversary as a Project Manager in Real EstateDevelopment here at PRG. Prior to coming aboard, I was at two other non-profit organizationsand during that time I always admired PRG and the mission to help all people and neighborhoodsthrive. It is because of the amazing work I saw first-hand and a phone call from Kathy that Idecided to join PRG.It has been an honor to be a part of the PRG team for the last 10 years and play a part in thenoble and fulfilling work we all do. I look forward to many more years of this work and being apart of PRG’s vision for the future in which all people have access to homes that fit and allneighborhoods are places of opportunity.

Congratulations toKevin Gulden for 10years at PRG

- Kevin Gulden

If it wasn't for their knowledgepointing me in the rightdirection, I wouldn't have myhome. I've never met anyone asdedicated in their field. Myadvisor walked me throughevery step. She treated melike an old friend, she reallycared about the welfare of meand my son.

PRG client & new homeowner,Louis Hall, speaking on hisexperience working with PRG.

2019019

20019

22Executive Director

Kathy Wetzel-Mastel

Project Manager, Real EstateDevelopment

Real Estate/Development CoordinatorHomeownership Advisor

Erin Wilson

Program Manager, HomeownershipAdvising Services

Portia Jackson

Luis Mendoza

Homeownership Advisor

Ahmed Artan

Administrative and AccountingCoordinator

Paul McCluskey

Communications & DevelopmentCoordinator

Aubrey Koski

Homeownership Advisor

Kevin Gulden

Staff

22220000111999

PresidentJane Tigan

Secretary

Akisha EverettDante Coleman David Fey

Cate Kuria

Erich Wunderlich

Caitlin Guilford

Mark Schoenbaum

Boardmembers

Nelima Sitate MuneneCorina SerranoVice President

Eric D. GrayTreasurer

Luis PereiraAbdirahman Muse(through Dec. 2019)

(through Dec. 2019)

2019

2019

2002001

Nellie AdamsMichael AndersonKatie PeacockPeggy BensonAdam BevisLynn & Brandon CampJan & Mike CaseySteve & Heidi CaskeyDante ColemanSue & Al CrouseSarah & Brian Peterson - DelacuevaBetty DolentzLeah Drury & Jill NumrichAnn FandreyDavid FeySam ForsterNed Foster & Laura TiffanyLuther FrankDebbie Freedman & Peter WodrichFred Glazer

Thank you to everyone who has donated to PRG.Because of your support, we had our best individual fundraising year ever.

Thank you to our 2019 Volunteers

Michael GozeEric GrayEmily GreenThomas GreenCaitlin GuilfordMary Guilford PlumbKevin GuldenLaura GusaTerry HannaPortia JacksonGreg KajiwaraJanet KoskiKarlyn KoskiCate KuriaSandy LoescherNathan & Teresa MarstenPaul McCluskeyPeter McLaughlinLuis MendozaConor Nelson

Richard ObergAaron PageLuis PereiraDaniel PreusPeggy RyanBarbara SatinJeff SawyerSamantha SawyerBob SchoenbaumMark SchoenbaumMatthew SchroederWilliam SeifertCorina SerranoBarb SimantonJenny SimonsonNelima Sitati MunenePaul SondaLori SteinRyan StoperaJoanna Suhayda

Liz SwickeyBarb TiganJane Tigan & Joseph HayesWilliam VersenCaitlin WarnerMichael Wassenaaraula & Stephan WeberPaul & Kristin WetzelRick & Faye WetzelKathy Wetzel-Mastel & Brent MastelMichele WiegandErin WilsonErich WunderlichLaura Zabel

Peggy RyanPat PaulsonEmily GreenSuzy Wheeler

Dan MatherPat GleasonCate Kuria

Thank you to our 2019Funding Partners

John TrostleNathan MarstenNene Matey-Keke

Bob AustinJulia IsraelMarcus Downs

72%

15%

8%

4%

68%

14%

10%

8%

R e v e n u eSale & Subsidy of HomesReal Estate DevelopmentHomeownership ServicesIndividual, Foundation & CorporateSupport Total Revenue

$1,817,192                         $267,132

                                $375,670                                $209,928

                         

 $2,669,922

$1,814,202                         $211,496

$385,250                                                    $96,900

                         $25,035

 $2,532,883

Cost of Home SalesReal Estate DevelopmentHomeownership ServicesAdministrative Expenses Fundraising Expenses Total Expenses

Cost ofHome Sales

Real EstateDevelopment

HomeownershipServices

AdministrativeExpenses Fundraising

Expenses1%

Sale/Subsidy of Homes

Real EstateDevelopment

Homeownership Services

Individual, Foundation,& Corp. Support

E x p e n s e s

Financials

Current AssetsInvestments in Partnerships & CorporationsDeveloper Fee ReceivableRestricted Cash Investments in ContractsNet Property & EquipmentCurrent LiabilitiesLong - Term DebtTotal Net Assets

$3,032,234$114,251$77,099

$119,575$655,625$174,838

$(2,545,777)$(234,310)$1,393,534

STATEMENT OF NET ASSETS2019

*Complete Financials Upon Request