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
| Base salary | Executive compensation | |
|---|---|---|
Vice President of Complian vice president $34k | ||
Director of Property Maint director (operational) $28k | ||
Vice President of Developm vice president $20k | ||
Plus 13 unpaid individuals.
Browse compensation in Community Improvement & Capacity Building →
Up 5%
from 2023
From $37k in 2023 to $39k in 2024.
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