Missing Middle Housing Fund EIN 86-3980580 Form 990 (PDF) Claim this org

Missing Middle Housing Fund FY2024 filing

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Funds new workforce housing and innovations to lower building costs. For fiscal year 2024 it reported $142K in revenue, $268K in expenses, and $2.9M in net assets.Pt I

Founded
2022
Type
Public charity (501(c)(3)) · Housing
Location
Portland, OR
Filings
4 on file (2022–2024)
Revenue
$142KFY2024
Expenses
$268K
Net assets
$2.9M
People
5
Filings
4
Updates
0
More identity details & actions ⌄
EIN  86-3980580 Public charity (501(c)(3)) Portland, OR Founded 2022
Form 990 (PDF)
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Size
$100K–1M
What they do
Funds new workforce housing and innovations to lower building costs.
Leadership
Nathan Wildfire · CEO · $85K
Money in and out
$142K revenue, $268K expenses
Bottom line
86% program efficiency
Where the money goes · FY2024
Total revenue
$142K
Pt VIII · Ln 12
Total expenses
$268K
Pt IX · Ln 25
Net assets
$2.9M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$127K
Where spending went · Part IX cols B–D
Program services $0.86 Management & general $0.14 Fundraising $0.00
Program efficiency
86%
of spending reaches programs
Operating runway
2.6mo
months of highly liquid reserves at operating expense rate
Surplus margin
-89%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$142K
FY2024▼ -96%
Expenses
$268K
FY2024▲ +36%
Total assets
$3.0M
FY2024▼ -0.9%
Total liabilities
$70K
FY2024
Total revenue
$142K
Pt VIII · Ln 12
Total expenses
$268K
Pt IX · Ln 25
Net assets
$2.9M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$127K
Total assetsPt X · Ln 16$3.0M
Program-expense ratioPt IX · col B86%
Voting members of governing bodyPt I · Ln 33
Independent voting membersPt I · Ln 43

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CMissing Middle Housing Fund
EINHdr · item D86-3980580
Principal addressHdr · item CPortland, OR
WebsiteHdr · item Jnone reported
Year of formationHdr · item L2022
State of legal domicileHdr · item MOR
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFHousing (L20)
Ruling yearIRS BMFMar 2023

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a3
Independent voting membersPt VI · Ln 1b3
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2Yes

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
$85,000Pt VII · Sec A
President
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Former Secretary
$0Pt VII · Sec A

Nathan Wildfire’s $68K as CEO is at the 58th percentile of top reported officer pay among 852 $100K–1M housing nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2025FY2024FY2023FY2022
Nathan Wildfire$67,789$85,000$83,330$28,332

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Mission & Programs · Part III

Where the work happens

3 program services account for $230K of program spending, described in the organization's own filed words · FY2024.
01

Supporting Housing Innovation Companies

MMHF worked with over 20 housing innovation companies in 2024 providing mentorship access to funding and event facilitation.

$123Kprogram expense
02

Supporting Housing Innovation in Rural Oregon

MMHF supported projects in 10 jurisdictions in Yamhill County 1 community in Morrow County and all of the communities along Oregons South Coast including event facilitation working directly with major employers and structuring and launching new housing funds.

$80Kprogram expense
03

Advocating for Better Housing Policies and Practices

MMHF hosted 2 "Lets Build" events for over 150 participants in two communities resulting in over 6 working groups established to reduce red tape create industry driven projects and create new housing funds. In addition MMHF wrote over 10 articles 4 newsletters and countless posts reaching our network of over 500 housing innovators.

$27Kprogram expense

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Statement of Revenue

Part VIII
Investment income$98K · 69%
Program service revenue$43K · 31%
Investment income69%$98K
Program service revenue31%$43K
Total revenueLn 12$142K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.86 Management & general $0.14 Fundraising $0.00
Program services86%$230K
Management & general14%$37K
Fundraising$1K
Total functional expensesLn 25$268K

Balance Sheet

Part X · end of year
CashLn 1$51K
Total assetsLn 16$3.0M
Total liabilitiesLn 26$70K
Total net assetsLn 32$2.9M
Months of cash on handcomputed2.3

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $51K · Operating expenses (Pt IX) $268K · Less non-cash grants $30K · Cash operating expenses/yr $238K
2.6 months
Where the money goes
Program services
Program services $230K · Total expenses $268K
86%
Management & General
Management & general $37K · Total expenses $268K
14%
Fundraising
Fundraising $1K · Total expenses $268K
0.4%
Cost to raise $1
Fundraising expense (2-yr avg) $13K · Solicited contributions (2-yr avg) $115K
$0.11 to raise $1 (2-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $0 · Total revenue $142K
0%
Government reliance
Government grants $0 · Total revenue $142K
0%
Earned-income share
Program service revenue $43K · Total revenue $142K
31%
Investment reliance
Investment income $98K · Total revenue $142K
+69%
Program self-sufficiency
Program service revenue $43K · Total expenses $268K
16%
Growth & trend
Revenue growth (YoY)
This year $142K · Prior year $3.2M
-96%
Net-asset trend (YoY)
End of year $2.9M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $142K · Expenses $268K
-89%
Liabilities-to-Assets
Total liabilities — · Total assets $3.0M
Net-asset ratio
Net assets $2.9M · Total assets $3.0M
98%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $0 · Other securities (Pt X, ln 12) $0 · Total assets (Pt X, ln 16) $3.0M
0%
People & payroll
Highest Reported Total Compensation
Individual Nathan Wildfire · Reported title CEO · Highest reported compensation $85K · Total expenses $268K
32%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $94K · Total expenses $268K
35%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 86%
Overhead ratio 14%
Revenue growth -96%
Investment management fee ratio 0%
Legal fee ratio 1%
Accounting fee ratio 3%
Fundraising fee ratio 0%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · this organization's grantmaking
Grants paid · 1 grant · $35K · 2024–2024
Unitemized GrantFY2024$35,000

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025 (Latest)$360K revenue · ⤓ 990 PDF
FY2024$142K revenue · viewing · ⤓ 990 PDF
FY2023$3.2M revenue · ⤓ 990 PDF
FY2022$100K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
Names, privacy, and removal requests More

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