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Nonprofiteer
← SEWARD REDESIGN INC

Form 990 for tax year 2023

Filed by SEWARD REDESIGN INC.

Totals

Total revenue
$5,591,588
Total expenses
$2,821,138
Contributions and grants received
$2,165,937
Grants paid
$0
Program service revenue
$3,439,048
Investment income
-$13,397
Other revenue
$0
Total assets, end of year
$35,523,961
Total liabilities, end of year
$24,144,916
Net assets or fund balances, end of year
$11,379,045
Program services expenses (Part IX)
$2,625,408
Management and general expenses
$163,484
Fundraising expenses
$32,246
Program service expenses (Part III)
$2,625,408

Program services were 93.1% 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)

    $156,264

  • 1f · All other contributions, gifts and grants

    $2,009,673

  • 2a · Program service revenue: DEVELOPER FEES

    total $1,692,599 · related or exempt $1,692,599

  • 2b · Program service revenue: RENTAL REVENUE

    total $1,190,818 · related or exempt $1,190,818

  • 2c · Program service revenue: INTEREST ON NOTES RECE

    total $459,192 · related or exempt $459,192

  • 2d · Program service revenue: MANAGEMENT FEES

    total $72,233 · related or exempt $72,233

  • 2e · Program service revenue: MISCELLANEOUS

    total $24,206 · related or exempt $24,206

  • 3 · Investment income

    total $4,152 · excluded $4,152

  • 7b · Less cost or other basis and sales expenses

    other assets $17,549

  • 7c · Gain or loss

    other assets -$17,549

  • 7d · Net gain or loss

    total -$17,549 · related or exempt -$17,549

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $163,261 · program services $106,120 · management and general $32,652 · fundraising $24,489

  • 7 · Other salaries and wages

    total $476,943 · program services $452,697 · management and general $24,077 · fundraising $169

  • 8 · Pension plan contributions

    total $14,857 · program services $14,548 · management and general $309

  • 9 · Other employee benefits

    total $47,578 · program services $43,903 · management and general $3,248 · fundraising $427

  • 10 · Payroll taxes

    total $54,389 · program services $47,781 · management and general $4,666 · fundraising $1,942

  • 11b · Fees: legal

    total $38,912 · program services $38,912

  • 11c · Fees: accounting

    total $128,030 · program services $61,338 · management and general $66,692

  • 11g · Fees: other

    total $148,709 · program services $148,709

  • 12 · Advertising and promotion

    total $11,285 · program services $9,914 · management and general $968 · fundraising $403

  • 13 · Office expenses

    total $40,404 · program services $25,380 · management and general $14,174 · fundraising $850

  • 16 · Occupancy

    total $265,997 · program services $265,997

  • 20 · Interest

    total $645,840 · program services $645,840

  • 22 · Depreciation, depletion and amortization

    total $383,775 · program services $380,484 · management and general $3,291

  • 23 · Insurance

    total $43,182 · program services $42,043 · management and general $804 · fundraising $335

  • 24a · Other expenses: MAINTENANCE

    total $217,938 · program services $214,063 · management and general $3,875

  • 24b · Other expenses: MISCELLANEOUS

    total $72,463 · program services $64,290 · management and general $5,772 · fundraising $2,401

  • 24c · Other expenses: DUES AND SUBSCRIPTIONS

    total $35,182 · program services $30,996 · management and general $2,956 · fundraising $1,230

  • 24d · Other expenses: BAD DEBT

    total $32,393 · program services $32,393

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $4,933,370 · end of year $4,339,822

  • 4 · Accounts receivable

    beginning of year $356,222 · end of year $706,977

  • 9 · Prepaid expenses and deferred charges

    beginning of year $34,303 · end of year $19,274

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

    $13,323,598

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

    $3,402,777

  • 10c · Land, buildings and equipment, net

    beginning of year $6,628,469 · end of year $9,920,821

  • 13 · Investments: program-related

    beginning of year $7,896,329 · end of year $20,537,067

  • 17 · Accounts payable and accrued expenses

    beginning of year $398,465 · end of year $510,147

  • 19 · Deferred revenue

    end of year $1,500,000

  • 23 · Secured mortgages and notes payable

    beginning of year $10,388,317 · end of year $21,864,508

  • 25 · Other liabilities

    beginning of year $275,507 · end of year $270,261

  • 27 · Net assets without donor restrictions

    beginning of year $4,573,509 · end of year $7,618,787

  • 28 · Net assets with donor restrictions

    beginning of year $4,212,895 · end of year $3,760,258

Mission and programs · 2023

Mission

REDESIGN BUILDS ECONOMIC JUSTICE IN COLLABORATION WITH THE COMMUNITY BY DEVELOPING AND SUSTAINING AFFORDABLE HOUSING AND COMMERCIAL REAL ESTATE, INVESTING IN ENTREPRENEURS, AND CREATING LIVING WAGE JOBS.

Activities or mission (Part I)

BUILD VITAL NEIGHBORHOODS WITH LIVING-WAGE JOBS, AFFORDABLE HOUSING, QUALITY GOODS AND SERVICES.

  • REAL ESTATE DEVELOPMENTREDESIGN IMPLEMENTS RESIDENTIAL, COMMERCIAL, AND INDUSTRIAL REAL ESTATE DEVELOPMENT PROJECTS THAT SERVE THE NEEDS OF LOW- AND MODERATE-INCOME RESIDENTS, WOMEN AND PEOPLE-OF-COLOR WITHIN THE SEWARD AND GREATER LONGFELLOW NEIGHBORHOODS.IN 2023, REDESIGN FOCUSED ON THE FOLLOWING DEVELOPMENT PROJECTS: 1) BEGINNING CONSTRUCTION ON AN 80,000 SQUARE FOOT HISTORIC COMMERCIAL BUILDING ON LAKE STREET IN PARTNERSHIP WITH PEOPLE-OF-COLOR LED ENTITIES, ENSURING THE EQUITABLE RECOVERY OF THE LAKE STREET COMMERCIAL CORRIDOR, 2) CONTINUED PLANNING FOR THE REDEVELOPMENT OF A VACANT SITE IN PARTNERSHIP WITH PEOPLE-OF-COLOR LED ENTITIES, WITH AN END USE OWNERSHIP MODEL OF PEOPLE-OF-COLOR BUSINESS AND ORGANIZATIONS THAT SUPPORT PEOPLE-OF-COLOR, AND3) CONTINUED PLANNING FOR THE REDEVELOPMENT OF AN APPROXIMATELY 32,000 SQUARE FOOT INDUSTRIAL BUILDING THAT WAS DAMAGED DURING THE CIVIL UNREST IN THE SUMMER OF 2020 TO RENOVATE AND REPURPOSE FOR A NEIGHBORHOOD-BASED BUSINESS OWNED BY PEOPLE-OF-COLOR AND TRANSITIONING THE BUSINESS FROM RENTING MULTIPLE LOCATIONS TO OWNING A SINGLE FACILITY FOR THE BUSINESSES. 4) ADVANCING DESIGN AND FUNDRAISING FOR THE DEVELOPMENT OF A 39-UNIT APARTMENT PROJECT DESIGNED FOR LOW-INCOME FAMILIES AT SEWARD COMMONS IN PARTNERSHIP WITH NOOR COMPANIES. MANY OF THESE UNITS WILL BE THREE- AND FOUR-BEDROOM UNITS, SUITABLE FOR LARGER FAMILIES. 5) ACQUIRED A 1,700 SQUARE FOOT FORMER RESTAURANT TO RENOVATE AND LEASE AS A COMMERCIAL KITCHEN AND/OR RESTAURANT.IN ADDITION TO REDESIGN'S OWN DEVELOPMENT PROJECTS, REDESIGN PROVIDED CONSULTING SERVICES TO MULTIPLE PEOPLE-OF-COLOR OWNED BUSINESSES TO PROVIDE TRAINING IN REAL ESTATE DEVELOPMENT TO NEW AND EMERGING DEVELOPERS AND SMALL BUSINESS OWNERS TO ACQUIRE AND DEVELOP NEW PROJECTS.

    Expenses $428,054 · Revenue $1,692,599

  • COMMERCIAL PROPERTY OPERATIONS AND MANAGEMENT FOR COMMUNITY VALUEREDESIGN OPERATES MULTI-TENANT COMMERCIAL PROPERTIES IN THE GREATER LONGFELLOW AND SEWARD NEIGHBORHOODS INCLUDING THE FRANKLIN EAST, 3300 EAST LAKE, 2610 EAST 32ND, FIVE SQUARE, VERNA, AND FOCUS ARTS BUILDINGS. ALL OF THESE PROPERTIES ARE LEASED TO MULTIPLE SMALL BUSINESS AND COMMUNITY ORGANIZATION TENANTS, THE GREAT MAJORITY OF WHICH ARE WOMEN, PEOPLE-OF-COLOR AND/OR IMMIGRANT OWNED. THESE PROPERTIES ARE MANAGED FOR LONG-TERM SUSTAINABILITY TO ENSURE AFFORDABLE AND ACCESSIBLE COMMERCIAL SPACE.REDESIGN LEASES AND DIRECTLY MANAGES THE COMMERCIAL PROPERTIES THAT IT OWNS. ADDITIONALLY, REDESIGN PROVIDES PROPERTY AND ASSET MANAGEMENT SERVICES FOR OTHER PROPERTIES WITHIN THE SEWARD NEIGHBORHOOD TO ENSURE LONG-TERM AFFORDABILITY AND HIGH-QUALITY PHYSICAL MAINTENANCE. THESE PROPERTIES INCLUDE SEWARD TOWERS EAST AND WEST; AND TWO RESIDENTIAL TOWNHOUSE PROPERTIES THAT ARE PARTLY- AND WHOLLY-OWNED BY REDESIGN RESPECTIVELY.

    Expenses $1,669,199 · Revenue $1,173,269

  • BUSINESS DEVELOPMENT AND GROWTHREDESIGN SEEKS OUT AND ATTRACTS NEW BUSINESSES TO THE SEWARD AND GREATER LONGFELLOW NEIGHBORHOODS BY PROVIDING TECHNICAL ASSISTANCE, ACCESS TO LOW COST LOAN CAPITAL AND ASSISTANCE WITH REAL ESTATE PROJECTS. IN 2023, REDESIGN PROVIDED TECHNICAL ASSISTANCE TO MORE THAN 50 SMALL BUSINESS CLIENTS AND LOANS TO 2 BUSINESSES. OUR FOCUS IS ON REACHING BUSINESSES THAT HAVE NOT ALWAYS ENJOYED EQUAL ACCESS TO SUPPORT INCLUDING IMMIGRANT, PEOPLE-OF-COLOR AND WOMAN-OWNED ENTERPRISES.REDESIGN PROVIDES COMMERCIAL BROKERAGE SERVICES TO LOCAL BUSINESSES TO ASSIST THEM IN FINDING SPACE TO LEASE OR PROPERTIES TO PURCHASE IN THE COMMUNITY, INCLUDING DEVELOPING PLANS FOR THE IMPROVEMENT OF SPACES AND THE FINANCING FOR THOSE IMPROVEMENTS. REDESIGN ALSO MANAGES THREE LOAN POOLS THAT MAKE BELOW-MARKET LOANS TO SMALL BUSINESSES THAT CREATE JOBS WITHIN THE COMMUNITY AND PROMOTE THE SUCCESS OF LOCAL COMMERCIAL CORRIDORS. MOST OF THESE BORROWERS WOULD NOT OTHERWISE HAVE ACCESS TO NEEDED AND EQUITABLE CAPITAL.

    Expenses $281,667 · Revenue $483,398

  • COMMUNITY PLANNING AND INFRASTRUCTURE ADVOCACYREDESIGN ENGAGES EXISTING RESIDENTS, BUSINESSES AND PROPERTY OWNERS IN PROACTIVE PLANNING FOR FUTURE LAND USE AND DEVELOPMENT AND TO ADVOCATE ON BEHALF OF COMMUNITY-BASED DEVELOPMENT THAT SERVES THE NEEDS OF ALL RESIDENTS, INCLUDING COMMUNITIES-OF-COLOR, IMMIGRANT COMMUNITIES AND THOSE OF LOW AND MODERATE INCOME. REDESIGN ALSO WORKS WITH RESIDENTS, BUSINESSES AND LOCAL INSTITUTIONS TO PLAN AND ADVOCATE FOR INFRASTRUCTURE IMPROVEMENTS, INCLUDING ENHANCEMENTS FOR PEDESTRIANS AND BICYCLISTS IN PARTICULAR, AND THOSE CHANGES THAT WILL ADDRESS CLIMATE CHANGE INCLUDING INCREASED USE OF SOLAR ENERGY. REDESIGN HAS PROVIDED TECHNICAL ASSISTANCE TO SEVERAL BUSINESSES TO INSTALL SOLAR ARRAYS ON THEIR ROOF. REDESIGN HAS ALSO ADDED SOLAR TO THE ROOFS AT FRANKLIN EAST AND THE COOPERAGE.

    Expenses $70,091

  • COMMUNITY PLANNING AND INFRASTRUCTURE ADVOCACYREDESIGN ENGAGES EXISTING RESIDENTS, BUSINESSES AND PROPERTY OWNERS IN PROACTIVE PLANNING FOR FUTURE LAND USE AND DEVELOPMENT AND TO ADVOCATE ON BEHALF OF COMMUNITY-BASED DEVELOPMENT THAT SERVES THE NEEDS OF ALL RESIDENTS, INCLUDING COMMUNITIES-OF-COLOR, IMMIGRANT COMMUNITIES AND THOSE OF LOW AND MODERATE INCOME. REDESIGN ALSO WORKS WITH RESIDENTS, BUSINESSES AND LOCAL INSTITUTIONS TO PLAN AND ADVOCATE FOR INFRASTRUCTURE IMPROVEMENTS, INCLUDING ENHANCEMENTS FOR PEDESTRIANS AND BICYCLISTS IN PARTICULAR, AND THOSE CHANGES THAT WILL ADDRESS CLIMATE CHANGE INCLUDING INCREASED USE OF SOLAR ENERGY. REDESIGN HAS PROVIDED TECHNICAL ASSISTANCE TO SEVERAL BUSINESSES TO INSTALL SOLAR ARRAYS ON THEIR ROOF. REDESIGN HAS ALSO ADDED SOLAR TO THE ROOFS AT FRANKLIN EAST AND THE COOPERAGE.

    Expenses $176,397 · Revenue $72,233

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Claudia Klinkhammer

    VP DEVELOPMENT

    Total calculated
    $0
    Hours/week
    1

  • Teshome Tesh Belayneh

    SECRETARY

    Total calculated
    $0
    Hours/week
    3

  • Emily Smoak

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Christine Diindiisi McCleave

    BOARD MEMBER THROUGH 6/23

    Total calculated
    $0
    Hours/week
    1

  • Abdullahi Mohamed

    BOARD MEMBER THROUGH 8/23

    Total calculated
    $0
    Hours/week
    1

  • Lisa Middag

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Sheldon Mains

    PRESIDENT

    Total calculated
    $0
    Hours/week
    3

  • Ewart Martens

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Anna Growcott

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Tadd Kelly

    TREASURER

    Total calculated
    $0
    Hours/week
    3

  • Anthony Scallon

    VP ADMINISTRATION

    Total calculated
    $0
    Hours/week
    3

  • Adam Annis

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Milissa Pahl

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Robbie Seltzer

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Marne Zafar

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Andy Hestness

    EXECUTIVE DIRECTOR

    Total calculated
    $162,062
    From this org
    $146,300
    From related orgs
    $0
    Other
    $15,762
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $146,300
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $15,762
    Filer's total
    $162,062

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

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

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.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

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.

  • SEWARD COMMONS LLC

    REHABILITATION OF REAL ESTATE · MN · income $0 · assets $933,114

    Directly controlled by REDESIGN INC

  • 3300 LAKE LLC

    COMMERCIAL REAL ESTATE · MN · income $118,486 · assets $861,577

    Directly controlled by REDESIGN INC

  • FIVE SQUARE LLC

    COMMERCIAL REAL ESTATE · MN · income $260,621 · assets $1,649,984

    Directly controlled by REDESIGN INC

  • 2200 GATEWAY LLC

    COMMERCIAL REAL ESTATE · MN · income $176,364 · assets $1,017,588

    Directly controlled by REDESIGN INC

  • FOCUS ARTS LLC

    COMMERCIAL REAL ESTATE · MN · income $220,852 · assets $2,396,423

    Directly controlled by REDESIGN INC

  • PHASE III A LLC

    RENTAL REAL ESTATE · MN · income $0 · assets $769,153

    Directly controlled by REDESIGN INC

  • DOWNTOWN LONGFELLOW LLC

    COMMERCIAL REAL ESTATE · MN · income $14,064 · assets $245,968

    Directly controlled by REDESIGN INC

  • COLISEUM TUFF VOLCANIC ROCK LEVERAGE LENDER LLC

    LENDING · MN · income $378,031 · assets $14,793,156

    Directly controlled by REDESIGN INC

  • FRANKLIN EAST LLC

    COMMERCIAL REAL ESTATE · MN · income $461,797 · assets $1,794,780

    Directly controlled by REDESIGN INC

  • REDESIGN FRANKLIN STATION LLC

    COMMERICAL REAL ESTATE · MN · income $0 · assets $1,209,687

    Directly controlled by REDESIGN INC

  • 2800 LAKE LLC

    COMMERCIAL REAL ESTATE · MN · income $0 · assets $2,778,423

    Directly controlled by REDESIGN INC

Related partnerships

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

  • MILWAUKEE AVENUE TOWNHOUSE ASSOCIATES

    RELATED · RENTAL REAL ESTATE · MN · 3.1% owned · share of income $359 · share of assets $41,077 · general or managing partner

    Directly controlled by REDESIGN INC

  • 2610 PARTNERS LLC

    RELATED · RENTAL REAL ESTATE · MN · 50% owned · share of income -$6,226 · share of assets $671,865 · general or managing partner

    Directly controlled by REDESIGN INC

  • BESSEMER APARTMENTS LLC

    RELATED · RENTAL REAL ESTATE · MN · 5.23% owned · share of income -$347,492 · share of assets $7,158,708

    Directly controlled by BESSEMER DEVELOPERS LLC

  • BESSERMER DEVELOPERS LLC

    RELATED · RENTAL REAL ESTATE · MN · 50% owned · share of income -$78,225 · share of assets $10,550,660 · general or managing partner

    Directly controlled by REDESIGN INC

  • COLISEUM 2708 BUILDING OWNER LLC

    RELATED · COMMERICAL REAL ESTATE · MN · 43% owned · share of assets $27,701,310 · general or managing partner

    Directly controlled by COLISEUM KINTSUGI MANAGING MEMBER LLC

  • COLISEUM PRIME TENANT LLC

    RELATED · COMMERICAL REAL ESTATE · MN · 100% owned · share of income $14 · share of assets $39,827 · general or managing partner

    Directly controlled by COLISEUM KINTSUGI MANAGING MEMBER LLC

  • BLACK MOUNTAIN HOLDINGS

    RELATED · COMMERCIAL REAL ESTATE · MN · 50% owned · share of income -$2,271 · share of assets $1,139,771 · general or managing partner

    Directly controlled by REDESIGN INC

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • CRS HOUSING GP LLC

    C · RENTAL REAL ESTATE · MN · 50% owned · share of income -$24 · share of assets $5,436

    Directly controlled by COMMONBOND COMMUNITIES

  • COLISEUM KINSTUGI MANAGING MEMBER LLC

    C · COMMERICAL REAL ESTATE · MN · 100% owned · share of income $14 · share of assets $3,257,589

    Directly controlled by REDESIGN INC

Provenance

Return type
form_990
Tax year
2023
Filed
5 November 2024
IRS schema version
2023v5.1
Source object
202403109349303620

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