2022-09-15T15:13:28-05:00 2021-12-31 390859910 BAKER TILLY US LLP 225 S 6TH ST 2300 MINNEAPOLIS MN 55402 990 2021-01-01 411558711 AEON AEON 6123413148 901 NORTH THIRD STREET 150 MINNEAPOLIS MN 55401 ERIC ANTHONY JOHNSON PRESIDENT 6123413148 2022-09-03 1 ERIC ANTHONY JOHNSON XXX-XX-XXXX LAWRENCE H MOHR CPA P00447603 6128764500 2022-09-03 X 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z ERIC ANTHONY JOHNSON 901 NORTH THIRD STREET 150 MINNEAPOLIS MN 55401 37123035 0 X WWW.AEON.ORG X 1986 MN TO CREATE AND SUSTAIN QUALITY AFFORDABLE HOMES THAT STRENGTHEN LIVES AND COMMUNITIES. 15 15 313 190 0 0 10542307 7214706 23354201 29133600 476548 774729 -3242 -250 34369814 37122785 110000 355957 0 0 8416532 9915884 81686 101094 1053204 28189046 34431160 36797264 44804095 -2427450 -7681310 205354447 203568122 194979530 200874515 10374917 2693607 X TO CREATE AND SUSTAIN QUALITY AFFORDABLE HOMES THAT STRENGTHEN LIVES AND COMMUNITIES. AEON ACQUIRES, IMPROVES, AND PRESERVES DECENT, SAFE AND AFFORDABLE HOUSING FOR VERY LOW, LOW AND MODERATE INCOME PERSONS, REMAINING RESPONSIBLE AND RESPONSIVE TO THE COMMUNITY, NEIGHBORHOOD AND RESIDENTS IT SERVES. 0 0 33279672 355957 22630789 RENTAL OPERATIONS - AEON OWNS AND OPERATES APARTMENT HOMES FOR RESIDENTS WITH LOW OR MODERATE INCOMES. AEON SERVICES 17,000 PEOPLE EACH YEAR ACROSS 60 PROPERTIES IN THE TWIN CITIES METRO REGION OF MINNESOTA. RESIDENTS INCLUDE PEOPLE WHO HAVE EXPERIENCED HOMELESSNESS, YOUTH, SENIORS, PEOPLE WITH MENTAL AND CHEMICAL HEALTH ISSUES, AND OTHERS WHO FACE CHALLENGES MAINTAINING HOUSING STABILITY. 3447064 3337592 HOUSING DEVELOPMENT - AEON EXPANDS AFFORDABLE HOUSING THROUGH NEW CONSTRUCTION AND ACQUISITIONS. WE ARE CURRENTLY TESTING PLANS FOR CAPITAL AND SYSTEMS NEEDED TO SUSTAIN AND INCREASE OUR PORTFOLIO TO 16,000 UNITS SERVING 50,000 PEOPLE IN TEN YEARS. 3750225 3165219 PROPERTY MANAGEMENT - AEON MANAGES MOST OF THE PROPERTIES IT OWNS, ENSURING APARTMENT HOMES ARE QUALITY HOMES FOR THE LONG-TERM, WHILE BUILDING POSITIVE RELATIONSHIPS WITH RESIDENTS. AS OF DECEMBER 31, 2021, AEON MANAGES 50 PROPERITES ACROSS THE TWIN CITIES METRO REGION. 1443057 RESIDENT SERVICES - AEON PROVIDES SUPPORT TO RESIDENTS WHO NEED IT THROUGH RESIDENT SERVICES. THE GOAL IS TO PROMOTE RESIDENT STABILITIY. THIS PROGRAM OFFERS A VARIETY OF TYPES OF SUPPORT, DEPENDING ON THE NEEDS OF THE RESIDENT OR THE RESIDENT COMMUNITY AT A PARTICULAR PROPERTY. SERVICES RANGE FROM COMMUNITY BUILDING ACTIVITIES, PERSONAL EMPOWERMENT INITIATIVES AND EDUCATION OPPORTUNITIES TO SERVICES PROVIDED BY PARTNER NONPROFIT SERVICE ORGANIZATIONS WITH EXPERTISE IN RECOVERY, MENTAL HEALTH ISSUES, ETC. 1443057 41920018 1 1 0 1 0 0 0 0 0 0 1 0 0 0 0 1 0 1 0 0 0 0 0 1 1 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 0 0 1 187 0 313 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 15 15 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 1 1 MN X X CAROLINE HORTON 6123413148 901 NORTH THIRD STREET SUITE 150 MINNEAPOLIS MN 55401 MARTHA SWANSON BOARD CHAIRPERSON 1.00 X X 0 0 0 MELISSA DOWNEY BOARD VICE CHAIRPERSON 1.00 X X 0 0 0 SCOTT ANDERSON BOARD SECRETARY 1.00 X X 0 0 0 TAMI DIEHM DIRECTOR 1.00 X 0 0 0 SAREOUN EARM DIRECTOR 1.00 X 0 0 0 JACKIE FOSTER DIRECTOR 1.00 X 0 0 0 TANESSA GREENE DIRECTOR 1.00 X 0 0 0 TOM HOFFMAN DIRECTOR 1.00 X 0 0 0 PRIYA MORIOKA DIRECTOR 1.00 X 0 0 0 MARTHA NEVANEN DIRECTOR 1.00 X 0 0 0 MATT PLEC DIRECTOR 1.00 X 0 0 0 RICK PURCELL DIRECTOR 1.00 X 0 0 0 DAN REED DIRECTOR 1.00 X 0 0 0 CJ SIMMONS-FAYE JONES DIRECTOR 1.00 X 0 0 0 KIRSTEN SPRECK DIRECTOR - OUTGOING 1.00 X 0 0 0 OSCAR YANEZ DIRECTOR 1.00 X 0 0 0 SUADO ABDI DIRECTOR - OUTGOING 1.00 X 0 0 0 ALAN ARTHUR PRESIDENT & CEO 50.00 X 195613 0 19655 CAROLINE HORTON TREASURER & CHIEF FINANCIAL OFFICER 50.00 X 200374 0 14037 SARAH HARRIS EXECUTIVE VP, STRATEGY, PARTNERSHIPS & PRODUCTION 50.00 X 243343 0 22781 SANTIAGO DE ANGULO EXECUTIVE VP OF PROPERTY OPERATIONGS 50.00 X 219030 0 15005 STACY MCMAHON VICE PRESIDENT OF ASSET MANAGEMENT 50.00 X 164165 0 19496 VIRGINIA BROWN VICE PRESIDENT OF ADVANCEMENT 50.00 X 154484 0 13144 ANGELA EMMRICH DIRECTOR OF HR & ADMINISTRATION 50.00 X 129938 0 22664 SUSAN HACKETT SENIOR PORTFOLIO DIRECTOR 50.00 X 131323 0 12328 KAYLA GIBBONS DIRECTOR OF OPERATIONS 50.00 X 121900 0 21606 ELIZABETH SHOGREN SENIOR OWNERS REPRESENTATIVE 50.00 X 120621 0 18698 WILLIAM MAGUE DIRECTOR OF ACQUISITIONS & SPECIAL PROJECTS 50.00 X 115844 0 12063 1796635 0 191477 15 0 1 0 ROZIN SECURITY CONSULTING LLC 2801 HENNEPIN AVE MINNEAPOLIS MN 55408 SECURITY SERVICES 1487750 P M TECH LLC 12931 5TH AVE SO BURNSVILLE MN 55337 MAINTENANCE SERVICES 452000 VALUE PLUS FLOORING INC 3109 NEIL ARMSTRONG BLVD EAGAN MN 55121 FLOOR INSTALLATION 409528 HAMERNICK CORPORATION 1381 NO RICE STREET ST PAUL MN 55117 FLOOR INSTALLATION 389080 TOTAL MAINTENANCE CORP 12550 MEADOW COURT SHAKOPEE MN 55379 MAINTENANCE SERVICES 368051 31 80703 3850665 3283338 189034 7214706 RENTAL OPERATIONS 531110 22216440 22216440 DEVELOPER FEES AND ACQUISITION FE 531390 3337592 3337592 MANAGEMENT FEES 531310 3165219 3165219 INVESTMENT IN OTHER ENTITIES 531390 414349 414349 29133600 774729 774729 0 80703 250 -250 -250 37122785 29133600 0 774479 355957 355957 1281128 888895 389551 2682 7551799 6296621 635935 619243 275881 212005 27221 36655 403357 301005 41762 60590 403719 284543 76084 43092 138809 138809 151159 73220 77939 134988 73360 61628 13500 13500 101094 101094 1610255 1358490 224081 27684 1108733 928001 68684 112048 2229337 2229337 7802276 7800908 530 838 6243675 6225851 6908 10916 1141054 1024366 116688 RENTAL OPERATIONS 8044545 8044545 PROJECT EXPENSES 2269329 2269329 RENTAL PROPERTY TAXES 2093391 2093391 PROPERTY MANAGEMENT AND 375491 375491 1074618 945894 90362 38362 44804095 41920018 1830873 1053204 13834735 13298033 8942146 9702033 537176 668635 11165984 12912393 2293470 585980 32550 193873 213555878 51685214 163976595 161870664 3747573 3512543 823968 823968 250 0 205354447 203568122 14986940 18069664 792578 587361 169375112 174673340 7550000 7544150 2274900 0 194979530 200874515 X -1163839 -8573307 11538756 11266914 10374917 2693607 205354447 203568122 -7681310 0 X X 0 1 X 1 1 1 X 3492087 6826783 3388802 10542307 7214706 31464685 3492087 6826783 3388802 10542307 7214706 31464685 6731001 24733684 32043 41058 296535 476548 774729 1620913 33085598 87714560 0.74760 0.74870 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 0 0 0 1 20061 0 1 13500 33561 0 PART II-B, LINE 1: AEON STAFF AND VOLUNTEERS PARTICIPATED DIRECTLY IN ADVOCACY AND LOBBYING EFFORTS IN SUPPORT OF MN LEGISLATION RELATED TO AFFORDABLE HOUSING, HOMELESSNESS AND OTHER AREAS RELATED TO AEON'S MISSION. AEON PAID FOR THIRD PARTY SERVICES TO LOBBY FOR TAX RATE REDUCTION FOR AFFORDABLE HOUSING UNITS DURING THE 2021 MN LEGISLATIVE SESSION. 19487154 19487154 188485369 47915004 140570365 1583627 1071196 512431 3999728 2699014 1300714 161870664 X PART X, LINE 2: AEON AND THE LANDING APARTMENTS ARE MINNESOTA NONPROFIT CORPORATIONS AND ARE EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND APPLICABLE MINNESOTA STATUTES, EXCEPT TO THE EXTENT THEY HAVE TAXABLE INCOME FROM ACTIVITIES THAT ARE NOT RELATED TO THEIR EXEMPT PURPOSES. UNRELATED BUSINESS INCOME IS TAXED AT THE CORPORATE INCOME TAX RATE. THE LIMITED PARTNERSHIPS ARE NOT TAXABLE ENTITIES. ACCORDINGLY, INCOME AND LOSSES ARE PASSED THROUGH TO THE PARTNERS. THE TAX STATUS OF THE LIMITED LIABILITY COMPANIES IS DETERMINED ON AN ENTITY-BY-ENTITY BASIS. INCOME AND LOSSES OF WHOLLY OWNED LLCS DETERMINED TO BE NON-TAXABLE ENTITIES ARE INCLUDED IN THE TAX RETURN OF AEON. INCOME AND LOSSES OF LLC'S DETERMINED TO BE TAXABLE ENTITIES ARE SUBJECT TO FEDERAL AND STATE CORPORATE INCOME TAXES. INCOME TAXES OF $48,500 AND $2,678 WERE PAID IN 2021 AND 2020, RESPECTIVELY. AEON IS NOT CURRENTLY UNDER EXAMINATION BY ANY TAXING JURISDICTION. FEDERAL AND STATE TAX AUTHORITIES NO LONGER HAVE THE RIGHT TO EXAMINE TAX YEARS PRIOR TO 2017. ANY INTEREST OR PENALTIES ASSOCIATED WITH TAX POSITIONS ARE REPORTED AS SUCH WITHIN THE MANAGEMENT AND GENERAL EXPENSES CATEGORY. THERE WERE NO SUCH INTEREST OR PENALTIES RECORDED IN THE ACCOMPANYING FINANCIAL STATEMENTS. MANAGEMENT BELIEVES AEON DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. PLEASE NOTE THAT AMOUNTS INCLUDED ABOVE REGARDING INCOME TAXES RELATE TO OTHER ORGANIZATIONS INCLUDED IN THE CONSOLIDATED AUDIT REPORT. AEON DOES NOT HAVE ANY UNRELATED BUSINESS INCOME TAX LIABILITY FOR TAX YEAR 2021. X X X X X X X 1 LISA ION CONSULTING 1053 MOON GLOW ROAD HUDSON WI 54016 CONSULTING 0 0 18675 -18675 BONNETT POND CONSULTING LLC 52537 QUAIL RUN ALTOONA FL 32702 CONSULTING 0 0 9449 -9449 NANCY DRIESSEN COMMUNICATIONS LLC 3908 LYNN AVENUE ST LOUIS PARK MN 55416 CONSULTING 0 0 20720 -20720 CREATIVE FUNDRAISING ADVISORS 90 DALE ST S ST PAUL MN 55105 CONSULTING 0 0 12500 -12500 SD&A TELESERVCIES 5757 WEST CENTURY BLVD 300 LOS ANGELES CA 90045 CONSULTING 0 0 30614 -30614 91958 -91958 AL AK AR CA CO CT DC FL GA HI IL KS KY ME MD MA MI MN MS MO NV NH NJ NM NY NC ND OH OK OR PA RI SC TN UT VA WA WV HUSTLE FOR HOME 69576 69576 TRIVIA 11127 11127 250 80703 80703 250 250 -250 1 RENT RELIEF 95 355957 PART I, LINE 2: PAYMENTS WERE APPLIED DIRECTLY TO THE ACCOUNTS OF RENTERS, AND NO FOLLOW UP WAS NEEDED TO ENSURE THE FUNDS WERE USED FOR THEIR INTENDED PURPOSE. X 0 0 X X X 0 0 0 0 0 0 0 0 0 SARAH HARRIS EXECUTIVE VP, STRATEGY, PARTNERSHIPS 243214 0 0 0 129 0 5627 0 17154 0 266124 0 0 0 SANTIAGO DE ANGULO EXECUTIVE VP OF PROPERTY OPERATIONGS 218400 0 0 0 630 0 6064 0 8941 0 234035 0 0 0 ALAN ARTHUR PRESIDENT & CEO 194995 0 0 0 618 0 6243 0 13412 0 215268 0 0 0 CAROLINE HORTON TREASURER & CHIEF FINANCIAL OFFICER 200329 0 0 0 45 0 5225 0 8812 0 214411 0 0 0 STACY MCMAHON VICE PRESIDENT OF ASSET MANAGEMENT 163967 0 0 0 198 0 4916 0 14580 0 183661 0 0 0 VIRGINIA BROWN VICE PRESIDENT OF ADVANCEMENT 154454 0 0 0 30 0 4419 0 8725 0 167628 0 0 0 ANGELA EMMRICH DIRECTOR OF HR & ADMINISTRATION 129308 0 0 0 630 0 3923 0 18741 0 152602 0 0 0 PART I, LINE 1A AEON HAS A MINNEAPOLIS CLUB MEMBERSHIP, WHICH IT UTILIZES TO HOST VARIOUS MEETINGS AND EVENTS THROUGH-OUT THE YEAR. AS MEMBERSHIP CANNOT BE PUT INTO ANY COMPANY'S NAME, AEON ALWAYS PUTS MEMBERSHIP IN THE PRESIDENT'S NAME. AEON ONLY PAYS FOR THE MEMBERSHIP AND ALL OF AEON'S RELATED EXPENSES FOR HOLDING ITS MEETINGS AT THE CLUB. IT IS NOT INCLUDED IN TAXABLE COMPENSATION AS IT IS NOT AN OPTION FOR THE MEMBER. ANY PERSONAL, NON-BUSINESS EXPENSES ARE PAID BY THE INDIVIDUAL MEMBER. TOTAL DUES FOR THE CURRENT YEAR WERE $4,634. PART I, LINE 1B AEON PAYS MINNEAPOLIS CLUB DUES DIRECTLY; THERE IS NO NEED FOR A WRITTEN POLICY OF REIMBURSEMENT. X 27 18300 FAIR MARKET VALUE X 103000 FAIR MARKET VALUE X 6 42839 VALUE OF STOCK X PPE SUPPLIES 3 24895 FAIR MARKET VALUE 0 0 1 0 PART I, COLUMN (B): PART I, COLUMN B LISTS THE NUMBER OF CONTRIBUTIONS. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS REVIEWED AND FINALIZED BY THE CHIEF FINANCIAL OFFICER BEFORE GOING TO THE PRESIDENT AND BOARD TO REVIEW AND ACCEPT. FORM 990, PART VI, SECTION B, LINE 12C DIRECTORS AND EMPLOYEES ARE REQUIRED TO SIGN OFF ON A CONFLICT OF INTEREST STATEMENT ANNUALLY. AT THE BEGINNING OF EACH BOARD MEETING, DIRECTORS ARE ASKED TO DISCLOSE ANY EXISTING CONFLICTS OF INTEREST. ANY POTENTIAL CONFLICTS OF INTEREST ARE REVIEWED AND ADDRESSED BY THE PRESIDENT AND THE BOARD. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD REVIEWED COMPENSATION FOR EXECUTIVE DIRECTORS OF OTHER ORGANIZATIONS IN THE TWIN CITIES AS REPORTED ON GUIDESTAR AND IN THE OTHER ORGANIZATIONS' FORM 990S. THE INFORMATION WAS GATHERED BY THE EXECUTIVE COMMITTEE AND DISCUSSED BY THE BOARD IN AN EXECUTIVE SESSION OF A BOARD MEETING. THE PRESIDENT/CEO REGULARLY REVIEWS COMPARATIVE COMPENSATION DATA FROM THIRD PARTY SURVEYS AND REPORTS TO ESTABLISH AND REVISE KEY EMPLOYEE COMPENSATION AND REVIEWS THE DETERMINATIONS AND RESULTS WITH THE DIRECTOR OF HR AND OTHERS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. 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