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← PARTNERSHIP IN PROPERTY COMMERCIAL LAND TRUST

Form 990 for tax year 2024

Filed by PARTNERSHIP IN PROPERTY COMMERCIAL LAND TRUST.

Totals

Total revenue
$603,896
Total expenses
$1,215,017
Contributions and grants received
$526,290
Grants paid
$6,000
Program service revenue
$77,595
Investment income
$11
Other revenue
$0
Total assets, end of year
$2,437,020
Total liabilities, end of year
$598,585
Net assets or fund balances, end of year
$1,838,435
Program services expenses (Part IX)
$133,887
Management and general expenses
$1,065,056
Fundraising expenses
$16,074
Program service expenses (Part III)
$114,654

Program services were 11.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1b · Membership dues

    $400

  • 1f · All other contributions, gifts and grants

    $525,890

  • 2a · Program service revenue: COMMERICAL RENTAL

    total $24,676 · related or exempt $24,676

  • 2b · Program service revenue: COMMERICAL RENTAL 2

    total $52,919 · related or exempt $52,919

  • 3 · Investment income

    total $11 · related or exempt $11

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $6,000 · program services $6,000

  • 5 · Compensation of officers, directors and key employees

    total $163,298 · management and general $163,298

  • 7 · Other salaries and wages

    total $350,317 · management and general $350,317

  • 9 · Other employee benefits

    total $66,495 · management and general $66,495

  • 10 · Payroll taxes

    total $44,102 · management and general $44,102

  • 11b · Fees: legal

    total $42,921 · program services $150 · management and general $42,771

  • 11c · Fees: accounting

    total $34,600 · management and general $34,600

  • 11g · Fees: other

    total $211,606 · program services $4,200 · management and general $207,406

  • 12 · Advertising and promotion

    total $12,404 · management and general $12,404

  • 13 · Office expenses

    total $9,613 · program services $318 · management and general $9,295

  • 16 · Occupancy

    total $9,382 · program services $9,382

  • 17 · Travel

    total $32,474 · management and general $32,474

  • 18 · Travel or entertainment for public officials

    total $2,250 · management and general $2,250

  • 19 · Conferences, conventions and meetings

    total $24,678 · management and general $8,604 · fundraising $16,074

  • 20 · Interest

    total $9,045 · program services $8,935 · management and general $110

  • 22 · Depreciation, depletion and amortization

    total $24,167 · program services $16,731 · management and general $7,436

  • 23 · Insurance

    total $28,791 · management and general $28,791

  • 24a · Other expenses: PROFESSIONAL DEVELOPMENT

    total $20,350 · management and general $20,350

  • 24b · Other expenses: PROJECT EXPENSES

    total $31,423 · program services $31,423

  • 24c · Other expenses: OTHER MANAGEMENT

    total $24,946 · management and general $24,946

  • 24d · Other expenses: PAYROLL PROCESSING FEES

    total $8,756 · management and general $8,756

  • 24e · All other expenses

    total $57,399 · program services $56,748 · management and general $651

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,889,841 · end of year $649,801

  • 3 · Pledges and grants receivable

    beginning of year $150,000 · end of year $249,700

  • 10a · Land, buildings and equipment: cost or other basis

    $1,128,770

  • 10b · Land, buildings and equipment: accumulated depreciation

    $60,523

  • 10c · Land, buildings and equipment, net

    beginning of year $743,722 · end of year $1,068,247

  • 15 · Other assets

    beginning of year $300,339 · end of year $469,272

  • 17 · Accounts payable and accrued expenses

    beginning of year $39,715 · end of year $14,074

  • 23 · Secured mortgages and notes payable

    beginning of year $292,151 · end of year $278,576

  • 24 · Unsecured notes and loans payable

    end of year $4,194

  • 25 · Other liabilities

    beginning of year $292,047 · end of year $301,741

  • 31 · Retained earnings, endowment or other funds

    beginning of year $2,459,989 · end of year $1,838,435

Mission and programs · 2024

Mission

PIPCLT envisions neighborhoods as reflections of the economic, cultural and social wealth of a community, where residents claim spaces through decision-making power and ownership of land, and together are building a human-centered ecomony.

Activities or mission (Part I)

The mission of Partnership in Property Commercial Land Trust (PIPCLT) is to (re)develop and preserve long-term affordable commercial spaces through community driven ownership of land.

  • PIPCLT works to explicitly address racial, gender and economic disparities in our community. Commercial land trusts (CLTs) define land as being community owned because the last is entirely owned and managed by a community -based membership. PIPCLT believes that truly participatory community engagement involves shared learning and that decision making builds trust community will be engaged throughout the development process from property selection to business selection. Displace of community-owned businesses has a psychological impact on residents. We will use our resources to preserve and create affordable commercial spaces indefinitely. CLTs uses long-term community ownership of land through a 99-year ground lease agreement, which has demonstrated effectiveness in combating displacement of occupants. In 2021, the organization acquired its first property in December 2021.

    Expenses $25,669 · Revenue $24,676

  • PIPCLT works to explicitly address racial, gender and economic disparities in our community. Commercial land trusts (CLTs) define land as being community owned because the last is entirely owned and managed by a community -based membership. PIPCLT believes that truly participatory community engagement involves shared learning and that decision making builds trust community will be engaged throughout the development process from property selection to business selection. Displace of community-owned businesses has a psychological impact on residents. We will use our resources to preserve and create affordable commercial spaces indefinitely. CLTs uses long-term community ownership of land through a 99-year ground lease agreement, which has demonstrated effectiveness in combating displacement of occupants. In 2022, the organization acquired its second property in March 2022.

    Expenses $88,985 · Grants $49,200 · Revenue $52,919

As filed on the 2024 return.

Listed in Part VII

  • Domonique Jones

    EXECUTIVE DIRECTOR

    Total calculated
    $163,298
    From this org
    $163,298
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $163,298
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $163,298

  • Cherrish Hollie

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Anthony Bailey

    BOARD MEMBER/BOARD TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Lydia Millard

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Edwardo Rikprashad

    BOARD MEMBER/ BOARD VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Ben Dossman

    BOARD MEMBER/ BOARD TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Reuben Moore

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Lebogang Kekana

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Latichia Harper

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Brenda Colston

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1b · Written policy on the line-1a expenses
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 2 · Substantiation required before reimbursing expenses

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • PIP HOLDINGS LLC

    COMMERCIAL REAL-ESTATE ACQUISITION AND M · MN

    Directly controlled by PARTNERSHIP IN PROPERTY COMMERCIAL LAND

Provenance

Return type
form_990
Tax year
2024
Filed
14 May 2025
IRS schema version
2024v5.2
Source object
202522799349301582

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