MAGNET LENDING CORPORATION
Data sourced from IRS 990 public filings
MAGNET LENDING CORPORATION MAGNET LENDING CORPORATION IS A MICHIGAN NONPROFIT FORMED TO PROMOTE COMMUNITY AND ECONOMIC DEVELOPMENT, THE CREATION OF WEALTH AND JOB OPPORTUNITIES, AND TO FACILITATE INVESTMENT OF PRIVATE AND PUBLIC CAPITAL IN THE FORM OF LOW-COST, FLEXIBLE FINANCIAL PRODUCTS, COUPLED WITH DEVELOPMENT SERVICES. MLC'S FINANCIAL PRODUCTS AND DEVELOPMENT SERVICES ARE DESIGNED TO CREATE AND PRESERVE AFFORDABLE AND ATTAINABLE HOUSING, INVEST IN JOB-CREATING COMMUNITY-DRIVEN ECONOMIC DEVELOPMENT PROJECTS, AND PROMOTE THE ECONOMIC MOBILITY OF LOW- AND MODERATE INCOME RESIDENTS AND COMMUNITIES IN THE STATE OF MICHIGAN.
Annual Revenue
$1,930,996
Known Funders
3
Grants Received
8
Financial History
| Year | Revenue | Expenses | Assets |
|---|---|---|---|
| 2024 | $1,930,996 | $414,575 | $13,606,021 |
| 2023 | $4,238,819 | $178,499 | $8,657,031 |
| 2022 | $157,066 | $3,488 | $2,903,549 |
| 2021 | $86,921 | $10,842 | $1,694,322 |
| 2020 | $15,000 | $771 | $1,673,500 |
Top Funders
NEW YORK, NY
NEW YORK, NY
NEW YORK, NY
NEW YORK, NY
NEW YORK, NY
NEW YORK, NY
NEW YORK, NY
Wilmington, DE
Key Personnel
From 2024 IRS 990 filing
ERIC HANNA
PRESIDENT & CEO; DIRECTOR
MARK MORANTE
CHAIRPERSON
MARY KING
VICE CHAIRPERSON
JAMIE SCHRINER
TREASURER
RICHARD HOSEY
SECRETARY
KARL DORSHIMER
DIRECTOR
MARK MCDANIEL
DIRECTOR
ELISSA SANGALLI
DIRECTOR
MARIA VENTURA
DIRECTOR
KARA WOOD
DIRECTOR
Showing 10 of 18 key personnel.
Frequently Asked Questions
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