Totals
- Total revenue
- $2,961,756
- Total expenses
- $1,414,616
- Contributions and grants received
- $2,873,919
- Grants paid
- $0
- Program service revenue
- $87,012
- Investment income
- $825
- Other revenue
- $0
- Total assets, end of year
- $6,317,796
- Total liabilities, end of year
- $1,161,313
- Net assets or fund balances, end of year
- $5,156,483
- Program services expenses (Part IX)
- $1,200,472
- Management and general expenses
- $192,769
- Fundraising expenses
- $21,375
- Program service expenses (Part III)
- $1,200,472
Program services were 84.9% 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.
-
1e · Government grants (contributions)
$655,413
-
1f · All other contributions, gifts and grants
$2,218,506
-
1g · Noncash contributions included above
$1,018,300
-
2a · Program service revenue: RENTAL INCOME
total $72,643 · related or exempt $72,643
-
2b · Program service revenue: DEVELOPER FEES
total $14,969 · related or exempt $14,969
-
2c · Program service revenue: LEASE FEES
total -$600 · related or exempt -$600
-
3 · Investment income
total $825 · excluded $825
Functional expenses
Part IX, the statement of functional expenses.
-
7 · Other salaries and wages
total $259,628 · program services $231,068 · management and general $23,367 · fundraising $5,193
-
9 · Other employee benefits
total $43,678 · program services $38,873 · management and general $3,931 · fundraising $874
-
10 · Payroll taxes
total $20,035 · program services $17,831 · management and general $1,803 · fundraising $401
-
11a · Fees: management
total $2,250 · program services $2,003 · management and general $202 · fundraising $45
-
11g · Fees: other
total $91,843 · management and general $87,251 · fundraising $4,592
-
12 · Advertising and promotion
total $37,876 · program services $7,575 · management and general $29,543 · fundraising $758
-
13 · Office expenses
total $24,065 · program services $16,846 · management and general $6,016 · fundraising $1,203
-
16 · Occupancy
total $110,994 · program services $77,695 · management and general $27,749 · fundraising $5,550
-
17 · Travel
total $189 · program services $133 · management and general $47 · fundraising $9
-
19 · Conferences, conventions and meetings
total $563 · program services $394 · management and general $141 · fundraising $28
-
20 · Interest
total $5,305 · program services $3,714 · management and general $1,326 · fundraising $265
-
22 · Depreciation, depletion and amortization
total $86,835 · program services $86,835
-
23 · Insurance
total $8,765 · program services $6,136 · management and general $2,191 · fundraising $438
-
24a · Other expenses: HOUSING GRANT
total $655,413 · program services $655,413
-
24b · Other expenses: BAD DEBT
total $21,130 · program services $21,130
-
24c · Other expenses: RENTAL - REPAIRS AND MAIN
total $17,879 · program services $13,409 · management and general $3,576 · fundraising $894
-
24d · Other expenses: MISCELLANEOUS
total $8,079 · program services $5,655 · management and general $2,020 · fundraising $404
-
24e · All other expenses
total $20,089 · program services $15,762 · management and general $3,606 · fundraising $721
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $660,143 · end of year $798,201
-
3 · Pledges and grants receivable
end of year $358,000
-
4 · Accounts receivable
beginning of year $1,964 · end of year $3,311
-
7 · Other notes and loans receivable
beginning of year $21,085 · end of year $21,085
-
9 · Prepaid expenses and deferred charges
beginning of year $84,381 · end of year $162,775
-
10a · Land, buildings and equipment: cost or other basis
$5,117,801
-
10b · Land, buildings and equipment: accumulated depreciation
$324,982
-
10c · Land, buildings and equipment, net
beginning of year $3,896,657 · end of year $4,792,819
-
14 · Intangible assets
beginning of year $32,193 · end of year $29,556
-
15 · Other assets
beginning of year $183,909 · end of year $152,049
-
17 · Accounts payable and accrued expenses
beginning of year $118,997 · end of year $85,365
-
19 · Deferred revenue
beginning of year $921,668 · end of year $921,668
-
24 · Unsecured notes and loans payable
beginning of year $85,324 · end of year $79,280
-
25 · Other liabilities
beginning of year $145,000 · end of year $75,000
-
27 · Net assets without donor restrictions
beginning of year $1,773,411 · end of year $2,730,583
-
28 · Net assets with donor restrictions
beginning of year $1,835,932 · end of year $2,425,900
Mission and programs · 2022
Mission
TO STRENGTHEN COMMUNITIES BY PROVIDING PERMANENTLY AFFORDABLE, SUSTAINABLE HOUSING FOR FAMILIES AND INDIVIDUALS AT OR BELOW 80% OF THE AREA MEDIAN INCOME; AND, TO PROMOTE THE LAND TRUST MODEL AS A METHOD OF PRESERVING AFFORDABLE HOUSING.
-
THE ORGANIZATION, A COMMUNITY LAND TRUST (CLT), ACHIEVES PERMANENT, LONG- TERM HOUSING AFFORDABILITY THROUGH THE USE OF A GROUND LEASE. CLT HOMEBUYERS PURCHASE ONLY THE HOUSE, AND ENTER INTO A 99-YEAR GROUND LEASE WITH THE ORGANIZATION FOR THE EXCLUSIVE USE OF THE LAND. THE ORGANIZATION'S GROUND LEASE STATES THAT WHEN A HOMEOWNER DECIDES TO SELL THEIR HOME, THE HOUSE IS SOLD TO ANOTHER LOW-TO-MODERATE INCOME HOUSEHOLD FOR THE ORIGINAL PURCHASE PRICE PLUS 25% OF ANY APPRECIATION IN THE HOME'S VALUE. BY LIMITING MARKET APPRECIATION, PERMANENT AFFORDABILITY IS ENSURED AND INITIAL SUBSIDIES INVESTED IN MAKING THE HOME AFFORDABLE ARE SPREAD ACROSS GENERATIONS OF LOW-TO-MODERATE INCOME HOMEBUYERS. MOST IMPORTANTLY, THIS AFFORDABLE HOUSING OPTION GIVES HOUSEHOLDS THAT COULD OTHERWISE ONLY AFFFORD TO RENT THE OPPORTUNITY TO TAKE ADVANTAGE OF ALL OF THE BENEFITS OF HOMEOWNERSHIP; STABILITY, SECURITY, TAX BENEFITS, AND THE OPPORTUNITY TO EARN EQUITY AND APPRECIATION IN REAL ESTATE THAT IS NOT AVAILABLE THROUGH RENTING.
Expenses $900,354 · Revenue $2,884,797
-
THE RONDO COMMUNITY LAND TRUST (RONDO CLT) CREATED THE RONDO DEVELOPMENT ON SELBY LLC - A SUBSIDIARY LIMITED LIABILITY CORPORATION FOR THE SELBY MILTON VICTORIA (SMV) COMMERCIAL LAND TRUST AND SENIOR HOUSING PROJECT ON SELBY AVENUE. RONDO CLT, ALONG WITH ITS PARTNER COMMUNITY HOUSING DEVELOPMENT CORPORATION (CHDC), DEVELOPED TWO MIXED-USE COMMERCIAL/RESIDENTIAL BUILDINGS. THESE BUILDINGS PROVIDE LONG-TERM AFFORDABLE COMMERCIAL SPACE FOR SMALL, LOCAL, AND MINORITY OWNED BUSINESSES ALONG WITH AFFORDABLE SENIOR HOUSING. THE BUILDINGS ARE LOCATED AT 852 SELBY AND 940 SELBY IN ST. PAUL. THERE ARE A TOTAL OF 34 UNITS OF LOW-INCOME SENIOR HOUSING. THE THIRTY-FOUR UNITS OF AFFORDABLE SENIOR HOUSING WILL BE BUILT ON THE TOP TWO FLOORS OF THESE BUILDINGS, AND WERE FINANCED BY A COMBINATION OF DEFERRED LOANS AND LOW INCOME HOUSING TAX CREDITS. THE UNITS ARE AFFORDABLE TO THOSE AT 30% TO 60% OF THE AREA MEDIAN INCOME. THE AFFORDABILITY WILL BE SECURED WITH RESTRICTIVE COVENANTS. THERE IS 9,300 SQUARE FEET OF COMMERCIAL SPACE. THERE ARE FIVE COMMERCIAL SPACES AND TWO LIVE WORK UNITS. THE HOUSING PORTION OF THIS PROJECT IS OWNED BY THE CHDC RONDO LIMITED PARTNERSHIP. RONDO DEVELOPMENT ON SELBY LLC IS A CO-GENERAL PARTNER IN THIS LIMITED PARTNERSHIP. THE COMMERCIAL PORTION IS FULLY OWNED BY RONDO SUBSIDIARY AS OF JANUARY 1, 2020.
Expenses $300,118 · Revenue $76,963
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Mikeya GriffinMIKEYA GRIFFIN
EXECUTIVE DI
- Total calculated
- $80,578
- From this org
- $80,578
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Brooke BlakeyBROOKE BLAKEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Charles BradleyCHARLES BRADLEY
PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
Shannon BrunetteSHANNON BRUNETTE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Ana CruzANA CRUZ
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Krystal D'AlencarKRYSTAL D'ALENCAR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Trish DeandaTRISH DEANDA
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Melvin GilesMELVIN GILES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Jessica JamesJESSICA JAMES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Tameka JonesTAMEKA JONES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Ralonda McKinleyRALONDA MCKINLEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Paris Servin-GonzalezPARIS SERVIN-GONZALEZ
SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
Kate SpeedKATE SPEED
DIRECTOR
- 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.
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.
Disregarded entities
Part I: entities that legally are the filer and file no return of their own.
-
RONDO DEVELOPMENT ON SELBY LLC
RENTAL · MN
Directly controlled by THE RONDO COMMUNITY LAND TRUST
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 18 October 2023
- IRS schema version
- 2022v5.0
- Source object
- 202303199349325140
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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