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Nonprofiteer
← RONDO COMMUNITY LAND TRUST

Form 990 for tax year 2023

Filed by RONDO COMMUNITY LAND TRUST.

Totals

Total revenue
$9,886,783
Total expenses
$2,724,604
Contributions and grants received
$9,649,088
Grants paid
$966,466
Program service revenue
$209,393
Investment income
$52,235
Other revenue
-$23,933
Total assets, end of year
$14,858,035
Total liabilities, end of year
$2,539,370
Net assets or fund balances, end of year
$12,318,665
Program services expenses (Part IX)
$2,511,423
Management and general expenses
$142,878
Fundraising expenses
$70,303
Program service expenses (Part III)
$2,511,423

Program services were 92.2% 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

    $99,644

  • 1e · Government grants (contributions)

    $2,308,800

  • 1f · All other contributions, gifts and grants

    $7,240,644

  • 1g · Noncash contributions included above

    $513,100

  • 2a · Program service revenue: RENTAL INCOME

    total $199,627 · related or exempt $199,627

  • 2b · Program service revenue: LEASE FEES

    total $9,766 · related or exempt $9,766

  • 3 · Investment income

    total $52,235 · excluded $52,235

  • 8a · Fundraising events: gross income

    $15,690

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

    $99,644

  • 8b · Fundraising events: direct expenses

    $98,299

  • 8c · Net income from fundraising events

    total -$82,609 · excluded -$82,609

  • 11d · All other revenue

    total $58,676 · related or exempt $58,676

  • 11e · Other revenue, total

    $58,676

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $215,000 · program services $215,000

  • 2 · Grants to domestic individuals

    total $751,466 · program services $751,466

  • 5 · Compensation of officers, directors and key employees

    total $115,585 · program services $98,247 · management and general $11,559 · fundraising $5,779

  • 7 · Other salaries and wages

    total $399,602 · program services $339,661 · management and general $39,960 · fundraising $19,981

  • 8 · Pension plan contributions

    total $10,004 · program services $8,503 · management and general $1,001 · fundraising $500

  • 9 · Other employee benefits

    total $20,906 · program services $17,771 · management and general $2,090 · fundraising $1,045

  • 10 · Payroll taxes

    total $37,676 · program services $32,024 · management and general $3,768 · fundraising $1,884

  • 11b · Fees: legal

    total $24,688 · program services $20,985 · management and general $2,469 · fundraising $1,234

  • 11c · Fees: accounting

    total $156,822 · program services $133,299 · management and general $15,682 · fundraising $7,841

  • 11g · Fees: other

    total $154,880 · program services $132,074 · management and general $15,203 · fundraising $7,603

  • 12 · Advertising and promotion

    total $40,262 · program services $34,223 · management and general $4,026 · fundraising $2,013

  • 13 · Office expenses

    total $42,170 · program services $36,803 · management and general $4,330 · fundraising $1,037

  • 16 · Occupancy

    total $158,644 · program services $134,847 · management and general $15,864 · fundraising $7,933

  • 20 · Interest

    total $17,998 · program services $15,298 · management and general $1,800 · fundraising $900

  • 22 · Depreciation, depletion and amortization

    total $169,447 · program services $144,030 · management and general $16,945 · fundraising $8,472

  • 23 · Insurance

    total $28,859 · program services $24,530 · management and general $2,886 · fundraising $1,443

  • 24a · Other expenses: REHABILITATION PROJECT

    total $201,157 · program services $201,157

  • 24b · Other expenses: RENTAL MAINTENANCE

    total $123,534 · program services $123,534

  • 24e · All other expenses

    total $55,904 · program services $47,971 · management and general $5,295 · fundraising $2,638

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $798,201 · end of year $523,896

  • 2 · Savings and temporary cash investments

    end of year $5,324,110

  • 3 · Pledges and grants receivable

    beginning of year $358,000 · end of year $550,624

  • 4 · Accounts receivable

    beginning of year $3,311 · end of year $20,580

  • 7 · Other notes and loans receivable

    beginning of year $21,085 · end of year $6,044

  • 9 · Prepaid expenses and deferred charges

    beginning of year $162,775 · end of year $18,210

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

    $7,638,022

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

    $481,383

  • 10c · Land, buildings and equipment, net

    beginning of year $4,792,819 · end of year $7,156,639

  • 14 · Intangible assets

    beginning of year $29,556 · end of year $267,507

  • 15 · Other assets

    beginning of year $152,049 · end of year $990,425

  • 17 · Accounts payable and accrued expenses

    beginning of year $85,365 · end of year $291,186

  • 19 · Deferred revenue

    beginning of year $921,668 · end of year $680,826

  • 23 · Secured mortgages and notes payable

    end of year $285,676

  • 24 · Unsecured notes and loans payable

    beginning of year $79,280 · end of year $443,083

  • 25 · Other liabilities

    beginning of year $75,000 · end of year $838,599

  • 27 · Net assets without donor restrictions

    beginning of year $2,730,583 · end of year $9,726,145

  • 28 · Net assets with donor restrictions

    beginning of year $2,425,900 · end of year $2,592,520

Mission and programs · 2023

Mission

EMPOWERING WITH AFFORDABLE HOUSING. STRENGTHEN AND PRESERVE COMMUNITIES BY PROVIDING AND ADVOCATING FOR PERMANENTLY AFFORDABLE, SUSTAINABLE HOUSING FOR FAMILIES AND INDIVIDUALS WITH LOW TO MODERATE INCOMES. PROMOTE THE UTILIZATION OF THE LAND TRUST MODEL AS A METHOD OF PRESERVING AFFORDABLE HOUSING, ECONOMIC GROWTH AND NEIGHBORHOOD STABILIZATION. SUPPORT AND CELEBRATE CULTURAL DIVERSITY BY PROVIDING AFFORDABLE BUSINESS OPPORTUNITIES TO INCREASE COMMUNITY ECONOMIC WEALTH, PROPERTY VALUES AND JOBS.

Activities or mission (Part I)

PERMANENTLY AFFORDABLE AND SUSTAINABLE HOMEOWNERSHIP, RENTALS, AND COMMERCIAL OPPORTUNITIES.

  • THE ORGANIZATION, A COMMUNITY LAND TRUST (CLT), ACHIEVES PERMANENT, LONG TERM HOUSING AFFORDABILITY THROUGH THE USE OF GROUND LEASES. 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 $2,348,074 · Grants $966,466 · Revenue $156,437

  • 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 34 UNITS OF AFFORDABLE SENIOR HOUSING 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 COGENERAL PARTNER IN THIS LIMITED PARTNERSHIP.

    Expenses $163,349 · Revenue $111,632

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

Listed in Part VII

  • MIKEYA GRIFFIN

    EXECUTIVE DIRECTOR

    Total calculated
    $114,646
    From this org
    $102,850
    From related orgs
    $0
    Other
    $11,796
    Hours/week
    40

  • CHARLES BRADLEY

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • SHANNON BRUNETTE

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • TRISH DEANDA

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • PARIS SERVIN-GONZALES

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • TAMEKA JONES

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MELVIN GILES

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • KRYSTAL D'ALENCAR

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ANA CRUZ

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • BROOKE BLAKEY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • RALONDA MCKINLEY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • KATE SPEED

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JESSICA JAMES

    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

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.

Provenance

Return type
form_990
Tax year
2023
Filed
29 October 2024
IRS schema version
2023v5.1
Source object
202443109349300504

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