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Nonprofiteer
← BEACON INTERFAITH HOUSING COLLABORATIVE

Form 990 for tax year 2023

Filed by BEACON INTERFAITH HOUSING COLLABORATIVE.

Totals

Total revenue
$12,930,229
Total expenses
$12,694,845
Contributions and grants received
$8,115,531
Grants paid
$0
Program service revenue
$4,627,526
Investment income
$119,283
Other revenue
$67,889
Total assets, end of year
$71,753,202
Total liabilities, end of year
$58,773,351
Net assets or fund balances, end of year
$12,979,851
Program services expenses (Part IX)
$9,760,183
Management and general expenses
$1,740,679
Fundraising expenses
$1,193,983
Program service expenses (Part III)
$9,760,183

Program services were 76.9% 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)

    $3,979,666

  • 1f · All other contributions, gifts and grants

    $4,135,865

  • 1g · Noncash contributions included above

    $58,315

  • 2a · Program service revenue: RENTAL INCOME

    total $2,826,659 · related or exempt $2,826,659

  • 2b · Program service revenue: DEVELOPER & OTHER SERVICE FEES

    total $1,581,352 · related or exempt $1,581,352

  • 2c · Program service revenue: ASSET MANAGEMENT FEE

    total $148,516 · related or exempt $148,516

  • 2d · Program service revenue: MISCELLANEOUS

    total $70,999 · related or exempt $70,999

  • 3 · Investment income

    total $119,283 · excluded $119,283

  • 11a · Other revenue: INSURANCE PROCEEDS

    total $67,889 · related or exempt $67,889

  • 11e · Other revenue, total

    $67,889

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $1,290,540 · program services $481,023 · management and general $699,491 · fundraising $110,026

  • 7 · Other salaries and wages

    total $3,008,583 · program services $1,869,253 · management and general $415,954 · fundraising $723,376

  • 8 · Pension plan contributions

    total $100,674 · program services $51,298 · management and general $18,250 · fundraising $31,126

  • 9 · Other employee benefits

    total $247,965 · program services $124,802 · management and general $58,945 · fundraising $64,218

  • 10 · Payroll taxes

    total $280,870 · program services $130,628 · management and general $84,466 · fundraising $65,776

  • 11a · Fees: management

    total $268,653 · program services $268,653

  • 11b · Fees: legal

    total $76,316 · program services $29,638 · management and general $46,678

  • 11c · Fees: accounting

    total $206,939 · program services $72,453 · management and general $134,486

  • 11g · Fees: other

    total $396,036 · program services $220,493 · management and general $149,087 · fundraising $26,456

  • 13 · Office expenses

    total $236,670 · program services $110,123 · management and general $71,207 · fundraising $55,340

  • 16 · Occupancy

    total $136,722 · program services $65,532 · management and general $40,023 · fundraising $31,167

  • 19 · Conferences, conventions and meetings

    total $36,028 · program services $6,860 · management and general $6,042 · fundraising $23,126

  • 20 · Interest

    total $67,941 · program services $67,941

  • 22 · Depreciation, depletion and amortization

    total $833,853 · program services $830,588 · management and general $1,837 · fundraising $1,428

  • 23 · Insurance

    total $137,378 · program services $137,378

  • 24a · Other expenses: RESIDENT SERVICES

    total $2,327,779 · program services $2,327,779

  • 24b · Other expenses: OPERATING/MAINTENANCE

    total $2,089,042 · program services $2,089,042

  • 24c · Other expenses: UTILITIES - RENTAL

    total $411,947 · program services $411,947

  • 24d · Other expenses: PROPERTY TAX - RENTAL

    total $310,061 · program services $310,061

  • 24e · All other expenses

    total $230,848 · program services $154,691 · management and general $14,213 · fundraising $61,944

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $864,496 · end of year $782,256

  • 2 · Savings and temporary cash investments

    beginning of year $5,407,279 · end of year $4,424,675

  • 3 · Pledges and grants receivable

    beginning of year $1,573,796 · end of year $1,850,951

  • 4 · Accounts receivable

    beginning of year $514,997 · end of year $779,145

  • 7 · Other notes and loans receivable

    beginning of year $6,848,178 · end of year $7,507,480

  • 9 · Prepaid expenses and deferred charges

    beginning of year $231,218 · end of year $369,633

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

    $61,976,734

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

    $10,434,072

  • 10c · Land, buildings and equipment, net

    beginning of year $25,523,972 · end of year $51,542,662

  • 13 · Investments: program-related

    beginning of year $3,250,700 · end of year $3,008,056

  • 14 · Intangible assets

    beginning of year $9,417 · end of year $5,641

  • 15 · Other assets

    beginning of year $1,375,191 · end of year $1,482,703

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,184,123 · end of year $2,077,944

  • 19 · Deferred revenue

    beginning of year $7,993,619 · end of year $9,125,740

  • 23 · Secured mortgages and notes payable

    beginning of year $21,170,720 · end of year $44,305,904

  • 25 · Other liabilities

    beginning of year $1,851,440 · end of year $3,263,763

  • 27 · Net assets without donor restrictions

    beginning of year $9,739,295 · end of year $10,958,609

  • 28 · Net assets with donor restrictions

    beginning of year $2,660,047 · end of year $2,021,242

Mission and programs · 2023

Mission

AS A COLLABORATIVE OF CONGREGATIONS UNITED IN ACTION WE CREATE HOMES AND ADVANCE EQUITABLE HOUSING.

  • HOUSING OPERATION: BEACON OFFERS A RANGE OF AFFORDABLE HOUSING AND SERVICES TO MEET THE NEEDS OF VULNERABLE MEMBERS OF OUR COMMUNITY. WE ARE THE LARGEST OWNER/OPERATOR OF SUPPORTIVE HOUSING IN THE STATE OF MINNESOTA. WE OPERATE NEARLY 800 QUALITY, AFFORDABLE HOMES FOR MORE THAN 1000 PEOPLE AT 24 PROPERTIES ACROSS THE TWIN CITIES METRO AREA. THE MAJORITY OF OUR HOUSING SERVES HOUSEHOLDS EARNING LESS THAN 30 PERCENT OF THE COMMUNITY'S AREA MEDIAN INCOME (AMI). SUPPORTIVE HOUSING SERVICES ARE PROVIDED TO OVER 600 HOUSEHOLDS IN BEACON HOUSING TO HELP YOUTH, SINGLE ADULTS, FAMILIES AND SENIORS SUCCESSFULLY EXIT OR AVOID HOMELESSNESS.

    Expenses $8,070,439 · Revenue $3,114,063

  • HOUSING DEVELOPMENT: BEACON IS AMONG THE LEADING DEVELOPERS OF DEEPLY AFFORDABLE, SUPPORTIVE HOUSING IN THE TWIN CITIES METRO AREA. BEACON'S UNIQUE COLLABORATIVE MODEL ACTIVATES THE ENERGY, RESOURCES AND LEADERSHIP OF CONGREGATIONS TO CREATE HOUSING. WE LEVERAGE PRIVATE CONTRIBUTIONS TO SECURE ADDITIONAL PUBLIC FUNDING AND CAPITAL COMMITMENTS AND HAVE DEVELOPED OVER 800 HOMES AT 26 PROPERTIES TO DATE. BEACON HAS OVER 200 HOMES IN VARIOUS STAGES OF DEVELOPMENT AT SEVEN LOCATIONS ACROSS THE TWIN CITIES METRO.

    Expenses $1,157,355 · Revenue $1,509,146

  • POLICY: WHEN ALL PEOPLE HAVE ACCESS TO STABLE HOUSING, OUR COMMUNITIES ARE STRONGER AND HEALTHIER. AS A COLLABORATIVE OF CONGREGATIONS BEACON WORKS FOR TRANSFORM PUBLIC POLICY SO THAT ALL PEOPLE HAVE A HOME. WE GALVANIZE INDIVIDUAL ADVOCATES, FAITH COMMUNITIES AND PEER ORGANIZATIONS TOWARDS POLICY SOLUTIONS AT THE LOCAL AND STATE LEVEL TO UNLOCK MORE RESOURCES FOR SUPPORTIVE HOUSING. BEACON ADVOCATES HAVE BEEN THE CATALYST TO BIG POLICY VICTORIES LIKE PASSING A METRO WIDE SALES TAX FOR HOUSING, CREATING THE NEW STATE RENTAL ASSISTANCE PROGRAM, BRING IT HOME, MINNESOTA, AND EXPANDING LOCAL INVESTMENTS FOR SUPPORTIVE HOUSING IN HENNEPIN COUNTY AND THE CITY OF MINNEAPOLIS.

    Expenses $532,389 · Revenue $72,206

As filed on the 2023 return.

Listed in Part VII

  • Charlie Flynn

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Linda Sandvig

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Reverend Michael Gonzales

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mark Bayley

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Steve Berglund

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Nancy Burns

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Daymond Dean

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Lisa Friedman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Saolia Tucker

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Thersa Dolata

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Tom Rock

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Sadia Tarannum

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Tj Ticey

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Lee Blons

    FORMER EXECUTIVE DIRECTOR

    Total calculated
    $174,988
    From this org
    $170,514
    From related orgs
    $0
    Other
    $4,474
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $170,514
    Bonus
    $0
    Other
    $0
    Deferred
    $2,304
    Nontaxable benefits
    $2,170
    Filer's total
    $174,988

  • Chris Latondresse

    EXECUTIVE DIRECTOR

    Total calculated
    $59,151
    From this org
    $47,596
    From related orgs
    $0
    Other
    $11,555
    Hours/week
    40

  • Salim Hussian

    CONTROLLER

    Total calculated
    $128,466
    From this org
    $116,445
    From related orgs
    $0
    Other
    $12,021
    Hours/week
    40

  • Deqa Essa

    FORMER CFO

    Total calculated
    $138,719
    From this org
    $124,909
    From related orgs
    $0
    Other
    $13,810
    Hours/week
    40

  • Kevin Walker

    VP OF HOUSING AND SHELTER

    Total calculated
    $174,810
    From this org
    $166,302
    From related orgs
    $0
    Other
    $8,508
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $166,302
    Bonus
    $0
    Other
    $0
    Deferred
    $6,647
    Nontaxable benefits
    $1,861
    Filer's total
    $174,810

  • Ben Helvick

    VP OF POLICY AND ORGANIZATION

    Total calculated
    $117,446
    From this org
    $111,610
    From related orgs
    $0
    Other
    $5,836
    Hours/week
    40

  • Heidi Goldman- Gray

    VP OF ADVANCEMENT AND COMMUNICATION

    Total calculated
    $143,826
    From this org
    $132,386
    From related orgs
    $0
    Other
    $11,440
    Hours/week
    40

  • Kynda Stull

    DIRECTOR OF SUPPORTIVE HOUSING PARTNERSHIPS

    Total calculated
    $114,408
    From this org
    $101,388
    From related orgs
    $0
    Other
    $13,020
    Hours/week
    40

  • Vanessa Allmon

    FORMER DIRECTOR OF DEI

    Total calculated
    $123,452
    From this org
    $111,430
    From related orgs
    $0
    Other
    $12,022
    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

  • 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

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.

  • 352 WACOUTA LLC

    RENTAL REAL ESTATE · MN · income $933,132 · assets $5,468,502

  • 545 SNELLING LLC

    RENTAL REAL ESTATE · MN · income $743,159 · assets $1,787,071

  • BEACON ACQUISITION LLC

    RENTAL REAL ESTATE · MN · income $0 · assets $3,422,308

  • CEDAR VIEW LLC

    RENTAL REAL ESTATE · MN · income $77,011 · assets $542,012

  • CLINTON AVENUE TOWNHOMES LLC

    RENTAL REAL ESTATE · MN · income $109,727 · assets $570,298

  • CRANBERRY RIDGE LLC

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

  • HAWTHORNE AVENUE LLC

    RENTAL REAL ESTATE · MN · income $275,822 · assets $1,031,828

  • HOUSING 150 NICOLLET LLC

    RENTAL REAL ESTATE · MN · income $102,672 · assets $779,251

  • HOUSING 150 LLC

    RENTAL REAL ESTATE · MN · income $250,050 · assets $1,533,679

  • NORTH HAVEN LLC

    RENTAL REAL ESTATE · MN · income $94,688 · assets $944,444

  • OAKHAVEN HOUSING LLC

    RENTAL REAL ESTATE · MN · income $169,438 · assets $588,753

  • PCNF NICOLLET HOUSING LIMITED PARTNERSHIP

    RENTAL REAL ESTATE · MN · income $697,732 · assets $5,647,509

  • PLYMOUTH HOUSING LLC

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

  • VISTA 44 LLC

    RENTAL REAL ESTATE · MN · income $17,447 · assets $22,467,285

  • BIMOSEDAA CO-GP LLC

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

  • EMERSON VILLAGE LLC

    RENTAL REAL ESTATE · MN · income $1,809 · assets $10,973,841

  • KIMBALL COURT LLC

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

Related partnerships

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

  • LYDIA APARTMENTS HOUSING LIMITED PARTNERSHIP

    RENTAL REAL ESTATE · MN · general or managing partner

  • 66 WEST LLC

    RELATED · RENTAL REAL ESTATE · MN · 0.01% owned · share of income $32,586 · share of assets $916,390 · general or managing partner

  • GREAT RIVER LANDING HOUSING LIMITED PARTNERSHIP

    RENTAL REAL ESTATE · MN · general or managing partner

  • PRIOR CROSSING LLC

    RELATED · RENTAL REAL ESTATE · MN · 0.01% owned · share of income -$28 · share of assets $583,473 · general or managing partner

  • CRANBERRY RIDGE HOUSING LIMITED PARTNERSHIP

    RELATED · RENTAL REAL ESTATE · MN · 0.01% owned · share of income -$55 · share of assets $1,021,983 · general or managing partner

  • PCNF CREEKSIDE COMMONS LIMITED PARTNERSHIP

    RENTAL REAL ESTATE · MN · general or managing partner

  • LONOKE LIMITED PARTNERSHIP

    RENTAL REAL ESTATE · MN · general or managing partner

  • BIMOSEDAA HOUSING LIMITED PARTNERSHIP

    RENTAL REAL ESTATE · MN · general or managing partner

  • FMF 38TH STREET DEVELOPMENT LLLP

    RELATED · RENTAL REAL ESTATE · MN · 99.99% owned · share of assets $1,057,643

Related corporations and trusts

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

  • GREAT RIVER LANDING LLC

    C · RENTAL REAL ESTATE · MN · 100% owned · share of income -$36,963 · share of assets -$257,167

  • HOUSING 150 - LONOKE LLC

    C · RENTAL REAL ESTATE · MN · 100% owned · share of income -$433,919 · share of assets $227,318

  • BIMOSEDAA LLC

    C · RENTAL REAL ESTATE · MN · 100% owned · share of income -$19 · share of assets $99,634

  • CREEKSIDE COMMONS LLC

    C · RENTAL REAL ESTATE · MN · 100% owned · share of income -$21 · share of assets $769,946

  • LYDIA APARTMENTS LLC

    C · RENTAL REAL ESTATE · MN · 100% owned · share of income $158,697 · share of assets $332,959

Provenance

Return type
form_990
Tax year
2023
Filed
12 December 2024
IRS schema version
2023v5.1
Source object
202403519349300775

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