Fiscal year ending 2024. Filed on November 4, 2025.
502 E Cesar E Chavez Ave Suite A
Lansing, Michigan 48906
Magnet Lending Corporation (EIN: 85-4188860) has filed an IRS Form 990 since fiscal year 2020. In its fiscal year 2024 IRS Form 990 filing, Magnet Lending Corporation, a 501(c)(3) charitable organization, reported compensation for 5 employees. Among the employees shown here, the average compensation is $211,583. The highest compensated employee at Magnet Lending Corporation is Eric Hanna with fiscal year 2024 compensation of $304,886.
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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.
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