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Nonprofiteer
← PARTNERSHIP IN PROPERTY COMMERCIAL LAND TRUST

Form 990 for tax year 2022

Filed by PARTNERSHIP IN PROPERTY COMMERCIAL LAND TRUST.

Totals

Total revenue
$2,446,548
Total expenses
$521,583
Contributions and grants received
$2,388,652
Grants paid
$0
Program service revenue
$0
Investment income
$0
Other revenue
$57,896
Total assets, end of year
$2,922,658
Total liabilities, end of year
$322,338
Net assets or fund balances, end of year
$2,600,320
Program services expenses (Part IX)
$136,947
Management and general expenses
$383,763
Fundraising expenses
$873
Program service expenses (Part III)
$131,871

Program services were 26.3% 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.

  • 1c · Fundraising events

    $61,805

  • 1f · All other contributions, gifts and grants

    $2,326,847

  • 6a · Gross rents

    real property $57,896

  • 6c · Rental income or loss

    real property $57,896

  • 6d · Net rental income or loss

    total $57,896

  • 8a · Fundraising events: contributions included on line 1c

    $61,805

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $37,049 · program services $37,049

  • 5 · Compensation of officers, directors and key employees

    total $115,981 · management and general $115,981

  • 9 · Other employee benefits

    total $1,917 · management and general $1,917

  • 10 · Payroll taxes

    total $18,508 · management and general $18,508

  • 11a · Fees: management

    total $1,114 · program services $1,114

  • 11b · Fees: legal

    total $28,716 · program services $7,420 · management and general $21,296

  • 11c · Fees: accounting

    total $61,907 · management and general $61,907

  • 11g · Fees: other

    total $56,768 · program services $1,615 · management and general $54,328 · fundraising $825

  • 12 · Advertising and promotion

    total $3,600 · management and general $3,600

  • 13 · Office expenses

    total $7,806 · management and general $7,806

  • 14 · Information technology

    total $5,957 · management and general $5,957

  • 16 · Occupancy

    total $63,062 · program services $62,773 · management and general $289

  • 17 · Travel

    total $9,303 · management and general $9,303

  • 19 · Conferences, conventions and meetings

    total $38,052 · management and general $38,052

  • 20 · Interest

    total $4,446 · program services $3,890 · management and general $556

  • 22 · Depreciation, depletion and amortization

    total $17,759 · program services $17,759

  • 23 · Insurance

    total $3,762 · program services $2,258 · management and general $1,504

  • 24a · Other expenses: CLOSING COST

    total $36,336 · management and general $36,336

  • 24b · Other expenses: PAYPAL FEES

    total $55 · management and general $7 · fundraising $48

  • 24c · Other expenses: BANK FEES

    total $453 · program services $453

  • 24d · Other expenses: LICENSES AND TAXES

    total $460 · management and general $460

  • 24e · All other expenses

    total $8,572 · program services $2,616 · management and general $5,956

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $160,035 · end of year $2,196,758

  • 3 · Pledges and grants receivable

    beginning of year $92,290 · end of year $50,000

  • 9 · Prepaid expenses and deferred charges

    end of year $7,213

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

    $687,284

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

    $18,597

  • 10c · Land, buildings and equipment, net

    beginning of year $290,352 · end of year $668,687

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,745 · end of year $24,135

  • 23 · Secured mortgages and notes payable

    beginning of year $50,000 · end of year $298,203

  • 25 · Other liabilities

    beginning of year $2,577

  • 31 · Retained earnings, endowment or other funds

    beginning of year $485,355 · end of year $2,600,320

Mission and programs · 2022

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 economy.

Activities or mission (Part I)

The missing 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 land 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. Displacement of community-owned businesses haspsychological impacts on residents. We will use our resources to preserve and create affordable commercial spaces indefinitely. CLTs use 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 $64,802 · Revenue $10,000

  • 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 land 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. Displacement of community-owned businesses haspsychological impacts on residents. We will use our resources to preserve and createaffordable commercial spaces indefinitely. CLTs use long-term community ownership of land through a 99-year ground lease agreement, which hasdemonstrated effectiveness in combating displacement of occupants. In 2022, the Organization acquired its second property in March 2022

    Expenses $64,453 · Revenue $47,735

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Domoninque Jones

    EXECUTIVE DIRECTOR

    Total calculated
    $143,099
    From this org
    $140,175
    From related orgs
    $0
    Other
    $2,924
    Hours/week
    40

  • Felicia Perry

    REAL ESTATE MANAGER

    Total calculated
    $72,417
    From this org
    $69,154
    From related orgs
    $0
    Other
    $3,263
    Hours/week
    40

  • Danielle Mkali

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Mark Fick

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Devon Nolen

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Barbara Hall

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kowsar Mohamed

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Zahnia Harut

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Qannani Omar

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Davis Senseman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Cherrish Hollie

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Anna Schmiel

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Cassie Bean

    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.

Schedule J

Answered yes

  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

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
  • 9 · Followed the rebuttable-presumption procedure

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • PIP HOLDING

    MN · income $47,735 · assets $381,883

    Directly controlled by PARTNERSHIP IN PROPERTY COMMERCIAL LAND

Provenance

Return type
form_990
Tax year
2022
Filed
16 October 2023
IRS schema version
2022v5.0
Source object
202333119349303263

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