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Nonprofiteer
← CONORTH

Form 990 for tax year 2023

Filed by CONORTH.

Totals

Total revenue
$2,376,796
Total expenses
$1,710,041
Contributions and grants received
$1,913,796
Grants paid
$0
Program service revenue
$463,000
Investment income
$0
Other revenue
$0
Total assets, end of year
$3,200,296
Total liabilities, end of year
$2,020,240
Net assets or fund balances, end of year
$1,180,056
Program services expenses (Part IX)
$1,456,744
Management and general expenses
$197,198
Fundraising expenses
$56,099
Program service expenses (Part III)
$1,456,744

Program services were 85.2% 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.

  • 1e · Government grants (contributions)

    $499,186

  • 1f · All other contributions, gifts and grants

    $1,414,610

  • 2a · Program service revenue: PROJECT MANAGEMENT CONTRACTS

    total $183,063 · related or exempt $183,063

  • 2b · Program service revenue: DEVELOPER FEES

    total $151,177 · related or exempt $151,177

  • 2c · Program service revenue: COOPERATIVE TECHNICAL ASSIST

    total $104,328 · related or exempt $104,328

  • 2d · Program service revenue: OTHER INCOME

    total $24,432 · related or exempt $24,432

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $92,126 · program services $71,991 · management and general $13,855 · fundraising $6,280

  • 7 · Other salaries and wages

    total $526,246 · program services $411,229 · management and general $79,145 · fundraising $35,872

  • 9 · Other employee benefits

    total $41,152 · program services $31,414 · management and general $6,997 · fundraising $2,741

  • 10 · Payroll taxes

    total $53,000 · program services $41,923 · management and general $7,420 · fundraising $3,657

  • 11c · Fees: accounting

    total $8,821 · management and general $8,821

  • 12 · Advertising and promotion

    total $13,448 · program services $12,966 · management and general $361 · fundraising $121

  • 13 · Office expenses

    total $9,388 · program services $3,193 · management and general $6,031 · fundraising $164

  • 14 · Information technology

    total $2,880 · management and general $2,880

  • 16 · Occupancy

    total $33,300 · program services $26,340 · management and general $4,662 · fundraising $2,298

  • 17 · Travel

    total $12,255 · program services $11,633 · management and general $622

  • 19 · Conferences, conventions and meetings

    total $42,805 · program services $40,842 · management and general $1,963

  • 20 · Interest

    total $5,736 · program services $5,736

  • 23 · Insurance

    total $17,153 · management and general $17,153

  • 24a · Other expenses: CO-OP PROJECT GRANT

    total $600,000 · program services $600,000

  • 24b · Other expenses: CONTRACT SERVICES

    total $241,321 · program services $196,215 · management and general $40,379 · fundraising $4,727

  • 24c · Other expenses: DUES AND SUBSCRIPTIONS

    total $7,611 · program services $2,288 · management and general $5,323

  • 24d · Other expenses: OTHER EXPENSE

    total $2,385 · program services $560 · management and general $1,586 · fundraising $239

  • 24e · All other expenses

    total $414 · program services $414

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $269,195 · end of year $2,706,298

  • 4 · Accounts receivable

    beginning of year $250,505 · end of year $229,951

  • 9 · Prepaid expenses and deferred charges

    beginning of year $64,306 · end of year $71,592

  • 15 · Other assets

    beginning of year $77,555 · end of year $192,455

  • 17 · Accounts payable and accrued expenses

    beginning of year $54,570 · end of year $46,197

  • 23 · Secured mortgages and notes payable

    beginning of year $46,190 · end of year $1,791,346

  • 25 · Other liabilities

    beginning of year $47,500 · end of year $182,697

  • 27 · Net assets without donor restrictions

    beginning of year $270,954 · end of year $1,108,350

  • 28 · Net assets with donor restrictions

    beginning of year $242,347 · end of year $71,706

Mission and programs · 2023

Mission

NCF'S MISSION IS TO "TRANSFORM LIVES AND COMMUNITIES THROUGH COOPERATIVE ENTERPRISE." WE CARRY OUT THIS MISSION BY PROVIDING TECHNICAL ASSISTANCE AND COOPERATIVE EDUCATION TO COOPERATIVE ORGANIZATIONS. FROM OUR INCEPTION, WE HAVE BEEN INNOVATIVE AND ENTREPRENEURIAL, SEEKING OUT CREATIVE, SOCIALLY ORGANIZED APPROACHES TO CHALLENGING PROBLEMS.

  • WORKED DIRECTLY WITH COMMUNITY GROUPS TO BUILD AND PRESERVE AFFORDABLE, COOPERATIVE HOUSING BOTH IN AN URBAN AND RURAL SETTING; CONDUCTED RESEARCH THAT SUPPORTS THE CONVERSION AND ONGOING SUSTAINABILITY OF HOUSING TO COOPERATIVE OWNERSHIP; PROVIDED TECHNICAL ASSISTANCE TO VARIOUS COMMUNITY- BASED ECONOMIC DEVELOPMENT INITIATIVES. ORGANIZED AND CONDUCTED TRAINING INSTITUTES FOR HOUSING COOPERATIVES. 2023 ACCOMPLISHMENTS: TECHNICAL ASSISTANCE & CAPACITY BUILDING - NCF PROVIDED ONGOING TECHNICAL ASSISTANCE, CAPACITY BUILDING, AND TRAINING SERVICES TO OVER 90 CO-OP BOARD LEADERS AND STAFF. SECURED 10.7 MILLION IN INFRASTRUCTURE FUNDING FOR EXISTING RESIDENT OWNED MANUFACTURED HOUSING. HELPED TRANSITION 73-UNITS OF MANUFACTURED HOUSING TO RESIDENT OWNERSHIP. STOOD UP A WHOLLY OWNED SUBSIDIARY TO HOUSE ALL LENDING ACTIVITY. UNDERWROTE AND WORKED TO DEPLOY THE FIRST LOAN FROM THE SUBSIDIARY, COOPERATIVE LOAN FUND LLC. HELPED TO PASS A TAX CREDIT AND NOTICE OF SALE PROVISION FOR RESIDENTS IN THE STATE OF MINNESOTA. DELIVERED 2,958 HOURS OF TECHNICAL ASSISTANCE AND TRAINING TO CO-OPS. TRACK RECORD: SINCE 2004, NCF HAS WORKED WITH RESIDENTS TO CONVERT FOURTEEN MANUFACTURED HOME COMMUNITIES TO RESIDENT-OWNERSHIP - 11 IN MINNESOTA AND 3 IN WISCONSIN. THESE CONVERSIONS HAVE PROVIDED THE SECURITY OF PERMANENTLY AFFORDABLE HOUSING TO OVER 1000 HOME SITES. AVERAGE ANNUAL LOT RENT INCREASE ACROSS NCF'S PORTFOLIO IS 2% COMPARED TO THE NATIONAL INVESTOR- OWNED AVERAGE OF 5 TO 6%. NCF SUPPORTED COMMUNITIES HAVE RE-INVESTED OVER 6 MILLION INTO THEIR COMMUNITIES BY WAY OF INFRASTRUCTURE REHABILITATION AND OTHER COMMUNITY IMPROVEMENTS. 75% OF THE HOUSEHOLDS SERVED THROUGH THE MANUFACTURED HOME CONVERSION PROGRAM HAVE INCOMES AT 60% AMI OR BELOW. A FULL THIRD OF HOUSEHOLDS SERVED ARE CONSIDERED EXTREMELY LOW INCOME AT 30% OF AMI. AT LEAST 40% OF THE POPULATIONS SERVED THROUGH THE MANUFACTURED HOME CO-OP CONVERSION PROGRAM ARE HOUSEHOLDS OF COLOR (25% ARE LATINO; 11% ARE ASIAN HOUSEHOLDS). NCF SERVES A DISPROPORTIONATE POPULATION OF VETERANS AND HOUSEHOLDS WITH CHRONIC HEALTH CONDITIONS AND DISABILITIES.

    Expenses $1,456,744

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

Listed in Part VII

  • Victoria Clark-West

    EXECUTIVE DI

    Total calculated
    $94,890
    From this org
    $92,126
    From related orgs
    $0
    Other
    $2,764
    Hours/week
    40

  • Ryan Allen

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Sarah Berke

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Brian Dahlk

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Jim Erchul

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Bobbie Grubb

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Noah Hobbs

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Benjy Nicholie

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Trisha Presley

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Juan Luis Revea Ryes

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Diane Schobert

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Pat Streeter

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mar Valdecantos

    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

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.

  • VIKING LAKES

    NONE · MN

    Directly controlled by NCF

  • COOPERATIVE LOAN FUND

    LOAN FUND · MN · income $13,275 · assets $2,071,114

    Directly controlled by NCF

Provenance

Return type
form_990
Tax year
2023
Filed
30 May 2024
IRS schema version
2023v5.0
Source object
202411559349300531

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