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 · Schedule J · 5 reported individuals · Filing year 2024
| Position | Total |
|---|---|
President & Ceo; Director | $39k $42k |
Vice President of Complian vice president | $34k $37k |
CFO / COO | $33k $36k |
Director of Property Maint director (operational) | $28k $31k |
Vice President of Developm vice president | $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 →
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.
Revenue and expenses over time
MAGNET LENDING CORPORATION reported revenue and expenses across 2 filing years.
What Community Improvement & Capacity Building executives earn in Michigan
Comparable community improvement & capacity building organizations in Michigan pay their highest-earning executive a median of $66,858.
These are community improvement & capacity building sector-wide figures, not this organization's reported pay. Based on 68 organizations across 68 filings (2022 – 2023).
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