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.
Executive compensation
Form 990 · Part VII & Schedule J · 5 reported individuals · Filing year 2024
Percentile bands compare each position's total pay with the same role at Community Improvement & Capacity Building organizations nationwide.
| Position | Total |
|---|---|
President & Ceo; Director 10th to 25th percentilevs Community Improvement & Capacity Building peers in Michigan | $39k $42k |
Vice President of Complian Vice President 25th percentile to median | $34k $37k |
CFO / COO 25th percentile to median | $33k $36k |
Director of Property Maint Director (Operational) 10th to 25th percentile | $28k $31k |
Vice President of Developm Vice President 25th percentile to median | $20k $21k |
Teal figures restate each filed amount in 2026 dollars.
Estimated with BLS CPI-U for the Midwest region, restating filed pay into May 2026 dollars. A restatement of past pay, not current or projected pay.
Plus 13 unpaid individuals.
Browse compensation in Community Improvement & Capacity Building →
Top pay as a share of expenses
In 2024, the highest total compensation at MAGNET LENDING CORPORATION equaled 9% of the organization's total expenses. The median for community improvement & capacity building organizations is 14%.
Based on 10,247 community improvement & capacity building organizations, each measured at its most recent filing year with reported expenses and compensation.
Up 5%
from 2023
From $37k in 2023 to $39k in 2024.
Estimated with BLS CPI-U for the Midwest region, restating filed pay into May 2026 dollars. A restatement of past pay, not current or projected pay.
Chief Executive Officer pay rose 5% from 2023 to 2024, while revenue fell 54%.
- Vice President pay rose 4% from 2023 to 2024.
- Chief Financial Officer pay rose 1% from 2023 to 2024.
Pay for the position itself, not any one person. The officeholder may have changed between 2023 and 2024.
Among peers
Revenue and top compensation, plotted against similar organizations. This organization is highlighted in cyan.
Common questions about MAGNET LENDING CORPORATION
What does the Chief Executive Officer of MAGNET LENDING CORPORATION earn?
In 2024, the Chief Executive Officer of MAGNET LENDING CORPORATION received $39,267 in total compensation. This pay is in the bottom quarter for Chief Executive Officer roles among Community Improvement & Capacity Building organizations in Michigan, above the lowest 10% of comparable filings. Based on IRS Form 990 data.
How does Chief Executive Officer pay at MAGNET LENDING CORPORATION compare with similar nonprofits?
Compared with the same role at Community Improvement & Capacity Building organizations in Michigan, the 2024 pay of the Chief Executive Officer at MAGNET LENDING CORPORATION falls between the 10th and 25th percentiles. In 2024, the highest total compensation at MAGNET LENDING CORPORATION equaled 9% of the organization's total expenses. The median for community improvement & capacity building organizations is 14%.
What are MAGNET LENDING CORPORATION's revenue and expenses?
In 2024, MAGNET LENDING CORPORATION reported $1.9M in total revenue and $415k in total expenses on its IRS Form 990.
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