Justine Petersen Housing & Reinvestment Corporation (Justine Petersen)
Justine Petersen Housing & Reinvestment Corporation (Justine Petersen)
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About this organization
Mission
Our mission is to connect institutional resources with the needs of low- and moderate-income families in order to build assets and create enduring change.
About
ECONOMIC DEVELOPMENT - COUNSELORS PROVIDE TRAINING, TECHNICAL ASSISTANCE AND LENDING TO SMALL BUSINESSES AND MICRO-ENTERPRISES. AS THE NATION'S LARGEST SBA MICRO-LOAN INTERMEDIARY, JUSTINE PETERSEN BORROWS MONEY DIRECTLY FROM THE SBA AND ORIGINATES MICRO-ENTERPRISE LOANS UNDER $50,000 IN ACCORDANCE WITH ITS OWN UNDERWRITING GUIDELINES TO SMALL BUSINESS OWNERS THAT MAY NOT BE ABLE TO SECURE CAPITAL ELSEWHERE. JUSTINE PETERSEN PARTICIPATES IN THE USDA INTERMEDIARY RELENDING PROGRAM FOR ITS RURAL LENDING. GREAT RIVERS COMMUNITY CAPITAL ALSO ORIGINATES MICRO-ENTERPRISE AND SMALL BUSINESS LOANS. GEOGRAPHICALLY, JUSTINE PETERSEN/GREAT RIVERS CURRENTLY OFFER MICROENTERPRISE/SMALL BUSINESS LOANS IN 73 ILLINOIS (SEE SCHEDULE O)ECONOMIC DEVELOPMENT (CONTINUED):AND 28 KANSAS COUNTIES AND THE ENTIRE STATE OF MISSOURI. IN 2019, JUSTINE PETERSEN PROVIDED TECHNICAL ASSISTANCE AND TRAINING TO NEARLY 3,200 ENTREPRENEURS AND ORIGINATED $14.5 MILLION IN OVER 609 MICRO-ENTERPRISE AND SMALL BUSINESS LOANS AND ORIGINATED $615,909 IN 647 CONSUMER LOANS.JUSTINE PETERSEN ALSO ADMINISTERS A CONTRACTOR LOAN FUND TO MEET THE NEEDS OF SMALL AND MINORITY CONTRACTORS WHO LACK THE FINANCIAL CAPACITY TO SUCCESSFULLY BID, ACCEPT AND CARRY OUT THE WORK OF LARGE-SCALE PROPERTY DEVELOPMENT CONTRACTS. IN 2019, JUSTINE PETERSEN ORIGINATED $2 MILLION IN 58 CONTRACTOR LOANS.
Interesting data from their 2020 990 filing
The purpose of the non-profit, as set forth in the filing, is “Justine petersen's mission is to promote housing, savings, and economic development of low and moderate income families to build assets and create enduring change.”.
When discussing its purpose, they were characterized as: “Create enduring change for low/moderate income families via housing, savings and economic dev.”.
- The state in which the non-profit is legally authorized to operate is MO, as reported.
- The filing confirms that the non-profit's address in 2020 was 1023 N GRAND BLVD, SAINT LOUIS, MO, 63106.
- The form of the non-profit reports 44 employees as of 2020.
- Is not a private foundation.
- Expenses are greater than $1,000,000.
- Revenue is greater than $1,000,000.
- Revenue less expenses is -$768,518.
- The organization has 5 independent voting members.
- The organization was formed in 1997.
- The organization pays $2,313,553 in salary, compensation, and benefits to its employees.
- The organization pays $64,852 in fundraising expenses.
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