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Nonprofiteer
← SEWARD REDESIGN INC

Form 990 for tax year 2024

Filed by SEWARD REDESIGN INC.

Totals

Total revenue
$4,288,841
Total expenses
$3,816,939
Contributions and grants received
$1,015,451
Grants paid
$0
Program service revenue
$2,726,310
Investment income
$547,080
Other revenue
$0
Total assets, end of year
$34,554,998
Total liabilities, end of year
$22,930,650
Net assets or fund balances, end of year
$11,624,348
Program services expenses (Part IX)
$3,418,795
Management and general expenses
$301,448
Fundraising expenses
$96,696
Program service expenses (Part III)
$3,418,795

Program services were 89.6% 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)

    $239,044

  • 1f · All other contributions, gifts and grants

    $776,407

  • 2a · Program service revenue: RENTAL REVENUE

    total $1,223,556 · related or exempt $1,223,556

  • 2b · Program service revenue: DEVELOPER FEES

    total $655,914 · related or exempt $655,914

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

    total $603,654 · related or exempt $603,654

  • 2d · Program service revenue: MANAGEMENT FEES

    total $238,184 · related or exempt $238,184

  • 2e · Program service revenue: MISCELLANEOUS

    total $5,002 · related or exempt $5,002

  • 3 · Investment income

    total $1,066 · excluded $1,066

  • 7a · Gross sales of assets other than inventory

    other assets $633,888

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

    other assets $87,874

  • 7c · Gain or loss

    other assets $546,014

  • 7d · Net gain or loss

    total $546,014 · excluded $546,014

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $173,316 · program services $112,655 · management and general $34,664 · fundraising $25,997

  • 7 · Other salaries and wages

    total $754,404 · program services $613,619 · management and general $93,979 · fundraising $46,806

  • 8 · Pension plan contributions

    total $27,859 · program services $22,940 · management and general $3,342 · fundraising $1,577

  • 9 · Other employee benefits

    total $92,796 · program services $74,389 · management and general $12,062 · fundraising $6,345

  • 10 · Payroll taxes

    total $78,965 · program services $62,035 · management and general $10,850 · fundraising $6,080

  • 11b · Fees: legal

    total $1,652 · program services $1,652

  • 11c · Fees: accounting

    total $226,002 · program services $108,755 · management and general $117,247

  • 11g · Fees: other

    total $203,807 · program services $203,807

  • 12 · Advertising and promotion

    total $20,298 · program services $18,887 · management and general $904 · fundraising $507

  • 13 · Office expenses

    total $46,605 · program services $32,631 · management and general $11,295 · fundraising $2,679

  • 16 · Occupancy

    total $523,903 · program services $523,903

  • 20 · Interest

    total $845,610 · program services $845,610

  • 22 · Depreciation, depletion and amortization

    total $391,586 · program services $391,586

  • 23 · Insurance

    total $56,042 · program services $53,488 · management and general $1,637 · fundraising $917

  • 24a · Other expenses: MAINTENANCE

    total $242,204 · program services $237,064 · management and general $5,140

  • 24b · Other expenses: MISCELLANEOUS

    total $58,471 · program services $50,486 · management and general $5,117 · fundraising $2,868

  • 24c · Other expenses: DUES AND SUBSCRIPTIONS

    total $37,927 · program services $29,796 · management and general $5,211 · fundraising $2,920

  • 24d · Other expenses: BAD DEBT

    total $35,492 · program services $35,492

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $4,339,822 · end of year $3,609,560

  • 4 · Accounts receivable

    beginning of year $706,977 · end of year $1,508,205

  • 9 · Prepaid expenses and deferred charges

    beginning of year $19,274 · end of year $56,219

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

    $13,701,281

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

    $3,771,323

  • 10c · Land, buildings and equipment, net

    beginning of year $9,920,821 · end of year $9,929,958

  • 13 · Investments: program-related

    beginning of year $20,537,067 · end of year $19,451,056

  • 17 · Accounts payable and accrued expenses

    beginning of year $510,147 · end of year $235,202

  • 19 · Deferred revenue

    beginning of year $1,500,000 · end of year $1,500,000

  • 23 · Secured mortgages and notes payable

    beginning of year $21,864,508 · end of year $20,971,597

  • 25 · Other liabilities

    beginning of year $270,261 · end of year $223,851

  • 27 · Net assets without donor restrictions

    beginning of year $7,618,787 · end of year $8,881,453

  • 28 · Net assets with donor restrictions

    beginning of year $3,760,258 · end of year $2,742,895

Mission and programs · 2024

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)

REDESIGN BUILDS ECONOMIC JUSTICE IN COLLABORATION WITH THE COMMUNITY BY DEVELOPING AND SUSTAININGAFFORDABLE HOUSING AND COMMERCIAL REAL ESTATE, INVESTING IN ENTREPRENEURS, AND CREATING LIVING WAGEJOBS.

  • REAL ESTATE DEVELOPMENTREDESIGN IMPLEMENTS COMMUNITY-DRIVEN REAL ESTATE PROJECTS THAT RESPOND TO COMMUNITY GOALS AND DESIRES. WE TACKLE PROJECTS THAT THE PRIVATE MARKET MIGHT OTHERWISE IGNORE IN SERVICE OF OUR COMMUNITIES' OVERALL VIBRANCY. THESE PROJECTS INCLUDE KEY STRATEGIC COMMERCIAL PROPERTIES, AFFORDABLE HOUSING, AND HOUSING WITH SERVICES FOR PEOPLE LEAVING HOMELESSNESS OR WITH PERSISTENT MENTAL HEALTH NEEDS. REDESIGN ALSO LEVERAGES OUR REAL ESTATE EXPERTISE, REPUTATION, AND CAPITAL TO WORK WITH ASPIRING DEVELOPERS WHO HAVE HISTORICALLY BEEN SHUT OUT OF REAL ESTATE DEVELOPMENT. IN 2024, REDESIGN PARTNERED AND CONSULTED WITH 7 SMALL BUSINESS OWNERS AND ASPIRING DEVELOPERS TO CONDUCT FEASIBILITY ANALYSIS, SUPPORT CONSTRUCTION, ACQUIRE, FINANCE, AND MANAGE 6 PROJECTS IN OUR SERVICE AREA. THIS WORK MOVES PROPERTY OWNERSHIP INTO THE HANDS OF COMMUNITY MEMBERS AND BUILDS LONG-TERM WEALTH. KEY PROJECTS IN 2024 INCLUDE:1. COMPLETING CONSTRUCTION OF THE 85,000 SQUARE FOOT HISTORIC COLISEUM BUILDING WHICH WILL ONCE AGAIN SERVE AS A COMMERCIAL HUB FOR OUR SERVICE AREA.2. BEGINNING CONSTRUCTION OF WADAAG COMMONS, 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.3. CONTINUING COMMUNITY ENGAGEMENT AROUND THE 2800 EAST LAKE STREET SITE TO DETERMINE THE COMMUNITY'S WISHES FOR ITS FUTURE.

    Expenses $422,395 · Revenue $655,914

  • COMMERCIAL PROPERTY OPERATIONS AND MANAGEMENT FOR COMMUNITY VALUEREDESIGN OWNS AND MANAGES A SIGNIFICANT PORTFOLIO OF REAL ESTATE IN OUR NEIGHBORHOOD, PROVIDING WELL-MANAGED AFFORDABLE COMMERCIAL SPACE AND AFFORDABLE HOUSING. REDESIGN OWNS OR CO-OWNS 9 MULTI-TENANT COMMERCIAL PROPERTIES IN OUR SERVICE AREA, MAKING UP 178,394 SQUARE FEET OF AFFORDABLE COMMERCIAL SPACE THAT WE LEASE TO BUSINESSES AND NONPROFITS IN OUR COMMUNITY AT AFFORDABLE RATES. IN ADDITION, WE OWN OR CO-OWN 6 RESIDENTIAL BUILDINGS, MAKING UP OVER 900 UNITS OF AFFORDABLE HOUSING FOR MEMBERS OF OUR COMMUNITY.REDESIGN LEASES AND DIRECTLY MANAGES THE COMMERCIAL PROPERTIES THAT IT OWNS. ADDITIONALLY, REDESIGN PROVIDES PROPERTY AND ASSET MANAGEMENT SERVICES FOR OTHER PROPERTIES 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 $2,300,310 · Revenue $1,223,556

  • BUSINESS DEVELOPMENT AND GROWTHREDESIGN SERVES MORE THAN 100 SMALL AND EMERGING BUSINESSES IN OUR NEIGHBORHOOD EACH YEAR THROUGH HANDS-ON, TAILORED TECHNICAL SUPPORT. WE WORK ONE-ON-ONE WITH SMALL BUSINESSES TO PROVIDE HANDS-ON NEEDS ASSESSMENTS, RESOURCES (SUCH AS BUSINESS PLAN WRITING, STRATEGY DEVELOPMENT, MARKETING SUPPORT, ACCOUNTING, ETC.), COACHING, SUPPORT WITH SITE SEARCH, LEASING, PURCHASING NEGOTIATIONS, NAVIGATION THROUGH LICENSING AND PERMITTING PROCESSES, LOW-INTEREST AND PROFIT-BASED FINANCING, AND MORE TO ACCOMPLISH THEIR GOALS. IN 2024, REDESIGN VISITED 123 BUSINESSES AND PROVIDED 936 HOURS OF SERVICES TO 56 SMALL AND EMERGING BUSINESSES. WE SUPPORTED 8 BUSINESSES WITH MORE THAN $17,000 IN MATCHING FUNDS FOR IMPROVING THE LOOK OF THEIR STOREFRONTS, AND LAUNCHED A NEW SERIES OF SMALL BUSINESS SUPPORT WORKSHOPS BASED ON COMMUNITY NEEDS. REDESIGN'S POOL OF LENDING CAPITAL ENABLES US TO SUPPORT CLIENTS WHO OFTEN DO NOT QUALIFY FOR TRADITIONAL LOAN PRODUCTS AND FREQUENTLY HAVE LIMITED OPTIONS FOR ACCESSING CAPITAL. REDESIGN MANAGES MULTIPLE LOAN POOLS THAT MAKE BELOW-MARKET LOANS TO SMALL BUSINESSES THAT CREATE JOBS WITHIN THE COMMUNITY AND PROMOTE THE SUCCESS OF THE COMMERCIAL CORRIDORS. IN 2024, REDESIGN ORIGINATED 4 LOANS TOTALING $125,000 FROM OUR POOL OF LOW-INTEREST LOAN CAPITAL. REDESIGN ALSO 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. IN 2024, REDESIGN SUPPORTED 51 BUSINESSES IN LOCATING COMMERCIAL SPACE IN OUR SERVICE AREA TO HOUSE THEIR BUSINESS.

    Expenses $317,071 · Revenue $608,656

  • COMMUNITY PLANNING AND INFRASTRUCTURE ADVOCACYREDESIGN ENGAGES EXISTING RESIDENTS, BUSINESSES AND PROPERTY OWNERS IN PROACTIVE PLANNING FOR FUTURE LAND USE AND DEVELOPMENT AND ADVOCATES ON BEHALF OF COMMUNITY-BASED DEVELOPMENT THAT SERVES THE NEEDS OF EVERYONE. REDESIGN ALSO WORKS WITH RESIDENTS, BUSINESSES AND LOCAL INSTITUTIONS TO PLAN AND ADVOCATE FOR INFRASTRUCTURE IMPROVEMENTS, INCLUDING ENHANCEMENTS FOR PEDESTRIANS AND BICYCLISTS IN PARTICULAR, AS WELL AS CHANGES THAT WILL ADDRESS CLIMATE CHANGE INCLUDING INCREASED USE OF SOLAR ENERGY. IN 2024, REDESIGN CONTINUED WORKING ON AN INNOVATIVE AQUIFER THERMAL ENERGY STORAGE SYSTEM THAT WILL HEAT AND COOL AREA BUILDINGS USING ENERGY FROM THE EARTH.

    Expenses $379,019 · Revenue $238,184

As filed on the 2024 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
    3

  • Marne Zafar

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Robbie Seltzer

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Milissa Pahl

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Adam Annis

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Anthony Scallon

    VP ADMINISTRATION

    Total calculated
    $0
    Hours/week
    3

  • Tadd Kelly

    TREASURER

    Total calculated
    $0
    Hours/week
    3

  • Anna Growcott

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Ewart Martens

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Sheldon Mains

    PRESIDENT

    Total calculated
    $0
    Hours/week
    3

  • Lisa Middag

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Emily Smoak

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Teshome Tesh Belayneh

    SECRETARY

    Total calculated
    $0
    Hours/week
    3

  • Andy Hestness

    EXECUTIVE DIRECTOR

    Total calculated
    $172,716
    From this org
    $153,968
    From related orgs
    $0
    Other
    $18,748
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $153,968
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $18,748
    Filer's total
    $172,716

  • Abigail Romero

    REAL ESTATE PROJECT MANAGER

    Total calculated
    $115,351
    From this org
    $101,800
    From related orgs
    $0
    Other
    $13,551
    Hours/week
    40

  • Taylor Smrikarova

    REAL ESTATE DEVELOPMENT DIRECTOR

    Total calculated
    $129,049
    From this org
    $121,350
    From related orgs
    $0
    Other
    $7,699
    Hours/week
    40

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 $423,352 · assets $0

    Directly controlled by REDESIGN INC

  • 3300 LAKE LLC

    COMMERCIAL REAL ESTATE · MN · income $100,564 · assets $792,580

    Directly controlled by REDESIGN INC

  • FIVE SQUARE LLC

    COMMERCIAL REAL ESTATE · MN · income $568,091 · assets $1,628,744

    Directly controlled by REDESIGN INC

  • 2200 GATEWAY LLC

    COMMERCIAL REAL ESTATE · MN · income $139,701 · assets $984,367

    Directly controlled by REDESIGN INC

  • FOCUS ARTS LLC

    COMMERCIAL REAL ESTATE · MN · income $239,987 · assets $2,304,116

    Directly controlled by REDESIGN INC

  • PHASE III A LLC

    RENTAL REAL ESTATE · MN · income $0 · assets $614,434

    Directly controlled by REDESIGN INC

  • DOWNTOWN LONGFELLOW LLC

    COMMERCIAL REAL ESTATE · MN · income $0 · assets $238,566

    Directly controlled by REDESIGN INC

  • COLISEUM TUFF VOLCANIC ROCK LEVERAGE LENDER LLC

    LENDING · MN · income $502,181 · assets $14,966,342

    Directly controlled by REDESIGN INC

  • FRANKLIN EAST LLC

    COMMERCIAL REAL ESTATE · MN · income $479,932 · assets $1,745,461

    Directly controlled by REDESIGN INC

  • REDESIGN FRANKLIN STATION LLC

    COMMERICAL REAL ESTATE · MN · income $0 · assets $1,006,702

    Directly controlled by REDESIGN INC

  • 2800 LAKE LLC

    COMMERCIAL REAL ESTATE · MN · income $0 · assets $3,130,969

    Directly controlled by REDESIGN INC

  • REDESIGN WADAAG

    COMMERCIAL REAL ESTATE · MN · income $0 · assets $50

    Directly controlled by REDESIGN INC

  • MILWAUKEE TOWNHOMES LLC

    RENTAL REAL ESTATE · MN · income $0 · assets $0

    Directly controlled by REDESIGN INC

  • 2200 SNELLING LLC

    RENTAL REAL ESTATE · MN · income $0 · assets $0

    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 -$27 · share of assets $36,269 · general or managing partner

    Directly controlled by REDESIGN INC

  • 2610 PARTNERS LLC

    RELATED · RENTAL REAL ESTATE · MN · 50% owned · share of income -$11,409 · share of assets $211,727 · general or managing partner

    Directly controlled by REDESIGN INC

  • BESSEMER APARTMENTS LLC

    RELATED · RENTAL REAL ESTATE · MN · 5.23% owned · share of income -$384,440 · share of assets $6,978,455

    Directly controlled by BESSEMER DEVELOPERS LLC

  • BESSERMER DEVELOPERS LLC

    RELATED · RENTAL REAL ESTATE · MN · 50% owned · share of income -$354,001 · share of assets $6,754,375 · general or managing partner

    Directly controlled by REDESIGN INC

  • COLISEUM 2708 BUILDING OWNER LLC

    RELATED · COMMERICAL REAL ESTATE · MN · 43% owned · share of income -$638,260 · share of assets $13,097,977 · general or managing partner

    Directly controlled by COLISEUM KINTSUGI MANAGING MEMBER LLC

  • COLISEUM PRIME TENANT LLC

    RELATED · COMMERICAL REAL ESTATE · MN · 1% owned · share of income -$5,308 · share of assets $300,680 · general or managing partner

    Directly controlled by COLISEUM KINTSUGI MANAGING MEMBER LLC

  • BLACK MOUNTAIN HOLDINGS

    RELATED · COMMERCIAL REAL ESTATE · MN · 66% owned · share of income -$55,825 · share of assets $1,657,323 · 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 -$22 · share of assets $5,414

    Directly controlled by COMMONBOND COMMUNITIES

  • COLISEUM KINSTUGI MANAGING MEMBER LLC

    C · COMMERICAL REAL ESTATE · MN · 100% owned · share of income $2,550 · share of assets $2,614,011

    Directly controlled by REDESIGN INC

Provenance

Return type
form_990
Tax year
2024
Filed
14 October 2025
IRS schema version
2024v5.2
Source object
202532889349301813

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