Prg, Inc
Prg, Inc
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About this organization
Mission
PRG combines community-based affordable housing development with education and counseling to help all people and neighborhoods thrive.
About
REAL ESTATE DEVELOPMENTPRG DEVELOPS AFFORDABLE SINGLE-FAMILY AND MULTI-FAMILY HOUSING IN RESPONSE TO REQUESTS FROM NEIGHBORHOODS, COMMUNITY ORGANIZATIONS, AND SOCIAL SERVICE PROVIDERS. INSTEAD OF TAKING A ONE-SIZE-FITS-ALL APPROACH, WE PLACE A PRIORITY ON SENSITIVITY TO WHAT OUR PARTNER GROUPS WANT AND NEED, AND WE ENGAGE WITH THE COMMUNITY THROUGHOUT THE DEVELOPMENT PROCESS. HISTORICALLY, THIS HAS MEANT CREATING SINGLE-FAMILY HOMES FOR OWNERSHIP AS WELL AS A RANGE OF TYPES OF MULTI-FAMILY AND SUPPORTIVE HOUSING. IN 2019, WE CONTINUED TO ALLOT MOST OF OUR DEVELOPMENT CAPACITY TO REHABBING SINGLE-FAMILY, FORECLOSED HOMES AND CONSTRUCTING NEW SINGLE-FAMILY HOMES.SINGLE FAMILY DEVELOPMENTACQUIRED ONE LENDER- OR CITY-OWNED, SINGLE FAMILY HOME FOR RENOVATION AND RESALE TO LOW- AND MODERATE-INCOME HOUSEHOLDS, BRINGING OUT 10-YEAR TOTAL TO 87. ACQUIRED 6 CITY-OWNED VACANT LOTS FOR NEW CONSTRUCTION, BRINGING OUR 10-YEAR TOTAL NEW CONSTRUCTION TO 28 NEW HOMES. 100% OF SINGLE-FAMILY CONSTRUCTION CONTRACTS AWARDED IN 2019 WENT TO MINORITY-OWNED BUSINESSES. OVER THE PAST 10 YEARS, PRG HAS AWARDED OVER $15.5 MILLION IN SINGLE FAMILY CONSTRUCTION CONTRACTS WITH 97% GOING TO SMALL, MINORITY- AND/OR WOMEN-OWNED BUSINESSES. SOLD 6 HOMES, ALL BUT ONE PURCHASED BY HOUSEHOLDS OF COLOR, AND BRINGING THE 10-YEAR TOTAL TO 105. OF 2019 SALES, 83% WERE HOUSEHOLDS OF COLOR ALL BUYERS HAD INCOMES UNDER 80% AMI WITH THE AVERAGE MEDIAN INCOME AT 55% AMI, INCLUDING ONE HOUSEHOLD OF 10 FROM MINNEAPOLIS PUBLIC HOUSING. MULTI-FAMILY DEVELOPMENTTHERE WAS NO NEW MULTI-FAMILY DEVELOPMENTS IN 2019, HOWEVER 88 VERY LOW-INCOME HOUSEHOLD OCCUPY OUR PREVIOUS DEVELOPMENTS.
Interesting data from their 2020 990 filing
The purpose of the non-profit, as set forth in the filing, is “Prg combines community-based affordable housing development with education and counseling to help all people and neighborhoods thrive. we accomplish our mission both by developing affordable housing in partnership with neighborhoods and other groups, and by educating and counseling first-time homebuyers and households at risk of foreclosure.”.
When detailing its duties, they were outlined as: “Prg combines community-based affordable housing development with education and advising to help all people and neighborhoods thrive. we accomplish our mission both by developing affordable housing in partnership with neighborhoods and other groups, and by educating and advising first-time homebuyers and households at risk of foreclosure.”.
- The state in which the non-profit is legally authorized to operate is MN, as reported.
- The filing confirms that the non-profit's address in 2020 was 2017 EAST 38TH STREET, MINNEAPOLIS, MN, 55407.
- The non-profit's form for the year 2020 reports a total of 10 employees on their payroll.
- Is not a private foundation.
- Expenses are between $500,000 and $1,000,000+.
- Revenue is between $500,000 and $1,000,000+.
- Revenue less expenses is $137,039.
- The organization has 12 independent voting members.
- The organization was formed in 1976.
- The organization pays $539,601 in salary, compensation, and benefits to its employees.
- The organization pays $25,036 in fundraising expenses.
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