2024-11-12T16:57:12-06:00 2023-12-31 410746749 CLIFTONLARSONALLEN LLP 220 S 6TH STREET SUITE 300 MINNEAPOLIS MN 55402 990 2023-01-01 611756962 LAND BANK TWIN CITIES INC LAND 6122388210 2515 WABASH AVE 150 ST PAUL MN 55114 AARICA COLEMAN PRESIDENT 6122388210 2024-11-04 1 1 ANN NEIL P01817922 6123764500 2024-11-04 2023 2024-10-15 13:58:12Z AARICA COLEMAN 2515 WABASH AVE 150 ST PAUL MN 55114 8708572 0 X WWW.LANDBANKTWINCITIES.ORG X 2015 MN LAND BANK TWIN CITIES, INC. CAPTURES STRATEGIC REAL ESTATE OPPORTUNITIES TO BENEFIT PEOPLE WITH LOW TO MODERATE INCOMES, PRIORITIZING PEOPLE OF COLOR AND POPULATIONS FACING BARRIERS. 19 19 7 28 0 0 3840200 2340729 2181070 3159516 1466678 137586 95865 230741 7583813 5868572 0 0 0 0 841011 771776 63250 66000 97184 3707136 5225641 4611397 6063417 2972416 -194845 31192674 32751043 22836353 24517160 8356321 8233883 X LAND BANK TWIN CITIES, INC. CAPTURES STRATEGIC REAL ESTATE OPPORTUNITIES TO BENEFIT PEOPLE WITH LOW TO MODERATE INCOMES, PRIORITIZING PEOPLE OF COLOR AND POPULATIONS FACING BARRIERS. 0 0 1976711 415241 LAND BANKING -LAND BANK TWIN CITIES, INC. (LBTC) ACQUIRES, HOLDS, AND RESELLS STRATEGIC PROPERTIES WITHIN THE SEVEN-COUNTY METROPOLITAN AREA, TARGETING SALES TO APPROVED NON-PROFIT ORGANIZATIONS, SOCIALLY RESPONSIBLE FOR-PROFIT DEVELOPERS, COMMUNITY BUSINESSES, AND GOVERNMENT TO ADVANCE ITS MISSION. 192072 224597 COMMUNITY LENDING -LBTC PROVIDES LOANS TO APPROVED NON-PROFIT AND SOCIALLY RESPONSIBLE FOR-PROFIT DEVELOPERS, NON-PROFIT SERVICE PROVIDERS, COMMUNITY BUSINESSES, AND GOVERNMENT FOR THE PURCHASE, REHABILITATION, AND NEW CONSTRUCTION OF PROPERTIES, IN ALIGNMENT WITH ITS MISSION. 2637999 2778104 BROKERAGE/PROPERTY MANAGEMENTLBTC BROKERS THE SALE AND PURCHASE OF PROPERTIES AND MANAGES PROPERTIES DURING HOLDING PERIODS TO SUPPORT ITS MISSION. 312787 109901 GENERAL PROGRAM - ACTIVITIES THAT GENERALLY RELATE TO THE OVERALL MISSION OF LAND BANK TWIN CITIES, INC. BUT DO NOT FALL UNDER A SPECIFIC DEFINED PROGRAM. 312787 109901 5119569 1 1 0 0 0 0 0 0 0 0 1 0 1 0 1 1 0 1 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 1 37 0 1 7 1 0 0 0 0 0 0 0 0 0 0 0 0 X 19 19 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MN X AARICA COLEMAN 6122388210 2515 WABASH AVE SUITE 150 SAINT PAUL MN 55114 AMY MCCULLOCH DIRECTOR 1.00 X 0 0 0 BARBARA MCCORMICK DIRECTOR 1.00 X 0 0 0 CHARLES HANLEY TREASURER AS OF 09/2023 1.00 X X 0 0 0 CHERIE SHOQUIST DIRECTOR 1.00 X 0 0 0 DAVID MCGEE DIRECTOR 1.00 X 0 0 0 DEBORAH MITCHELL DIRECTOR-(LEFT 07/2023) 1.00 X 0 0 0 ELFRIC PORTE II DIRECTOR 1.00 X 0 0 0 JANE PRINCE DIRECTOR 1.00 X 0 0 0 JASON CHAVEZ DIRECTOR 1.00 X 0 0 0 JAY JENSEN DIRECTOR 1.00 X 0 0 0 JEFF WASHBURNE TREASURER (LEFT 09/2023) 1.00 X X 0 0 0 KARLA HENDERSON VICE CHAIR 1.00 X X 0 0 0 KEVIN ANDERSON DIRECTOR 1.00 X 0 0 0 KIZZY DOWNIE SECRETARY 1.00 X X 0 0 0 LIBBY STARLING VICE CHAIR/ CHAIR AS OF 09/2023 1.00 X X 0 0 0 MIKE GOZE DIRECTOR 1.00 X 0 0 0 NICOLLE GOODMAN DIRECTOR 1.00 X 0 0 0 TOM STREITZ CHAIR (LEFT 3/2023) 1.00 X X 0 0 0 TRISTA MATASCASTILLO DIRECTOR 1.00 X 0 0 0 CURT KLOTZ CHIEF FINANCIAL OFFICER 1.00 X 0 0 0 EDWARD LANDENBERGER VS PRESIDENT & SR PROGRAM DIRECTOR 40.00 X 165897 0 32419 SHANA WENGER CHIEF OPERATING OFFICER 40.00 X 139178 0 23465 SCOTT ANDERSON PROGRAM MANAGER 40.00 X 104721 0 4187 SANDRA L OAKES PRESIDENT (LEFT 4/2023) 40.00 X 100487 0 2145 510283 0 62216 4 1 1 0 MN APARTMENTS LLC 1041 FRONT AVE SAINT PAUL MN 55103 PROPERTY MANGEMENT 218595 DIVERGE FINANCE COOPERATIVE 2112 BROADWAY ST NE SUITE 225 PMB MINNEAPOLIS MN 55413 ACCOUNTING 182595 2 2340729 2340729 RENTAL INCOME 532000 2129854 2129854 PROGRAM INTEREST 900099 613046 613046 PROGRAM FEES 900099 416616 416616 3159516 2977586 2840000 137586 137586 137586 MISCELLANEOUS INCOME 900099 230741 230741 230741 5868572 3527843 0 0 463591 251915 209914 1762 240847 128596 111357 894 6568 4128 2397 43 11938 7778 4138 22 48832 26973 21684 175 124867 124867 205679 205679 66000 66000 309629 206238 76578 26813 40022 22893 16917 212 92880 51561 40469 850 35437 20865 14377 195 1102 1069 33 2461 1592 869 856440 856440 770842 770842 41130 23527 17385 218 PROPERTY EXPENSE - LLCS 2539456 2539456 RESALE PARTNER OFFSET 172304 172304 PROVISION FOR LOAN AND 24179 24179 BAD DEBT EXPENSE 9213 9213 6063417 5119569 846664 97184 11906741 5143324 523000 102000 278227 323189 1456694 2966063 143012 91831 360151 135522 32756 224629 16852244 23650655 0 249352 31192674 32751043 361170 570332 1672305 565627 18918508 22198049 1884370 1183152 22836353 24517160 X 4613321 4373128 3743000 3860755 8356321 8233883 31192674 32751043 -194845 72407 0 X X 0 1 X 1 0 X 516113 980877 3376550 3840200 2340729 11054469 516113 980877 3376550 3840200 2340729 11054469 4918300 6136169 7990 6651 1840 7460 23941 95865 230741 326606 11405016 11631546 0.53800 0.41550 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS INCOME - 2022 AMOUNT: $ 95,865. 2023 AMOUNT: $ 230,741. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 99199 3151 96048 260952 132371 128581 224629 PROPERTY HELD FOR SALE 23650655 C 23650655 OTHER LIABILITIES 880913 LEASE LIABILITY 302239 1183152 X 5868572 0 5868572 0 5868572 6063417 0 6063417 0 6063417 PART X, LINE 2: THE ORGANIZATION IS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC) AND IS SUBJECT TO FEDERAL INCOME TAX ONLY ON NET UNRELATED BUSINESS INCOME. THE ORGANIZATION CURRENTLY HAS NO UNRELATED BUSINESS INCOME AND IS NOT CONSIDERED A PRIVATE FOUNDATION WITHIN THE MEANING OF SECTION 509(A) OF THE IRC AND ALL CHARITABLE CONTRIBUTIONS ARE CONSIDERED TAX DEDUCTIBLE. THE ORGANIZATION FOLLOWS THE ACCOUNTING STANDARD THAT CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. THE POLICY PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT PRINCIPLES FOR THE CONSOLIDATED FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. THE IMPLEMENTATION OF THIS POLICY HAD NO IMPACT ON ORGANIZATION'S CONSOLIDATED FINANCIAL STATEMENTS. X X X X 1 CROWLEY WHITE HELMER & SELVIG INC 1619 DAYTON AVENUE SUIT 301 SAINT PAUL MN 55104 CONSULTANTS 0 164000 66000 98000 164000 66000 98000 MN X X X X 1 0 0 0 0 0 0 1 0 EDWARD LANDENBERGER VS PRESIDENT & SR PROGRAM DIRECTOR 165897 0 0 0 0 0 6946 0 25473 0 198316 0 0 0 SHANA WENGER CHIEF OPERATING OFFICER 139178 0 0 0 0 0 5839 0 17626 0 162643 0 0 0 SANDRA L OAKES PRESIDENT (LEFT 4/2023) 8987 0 0 0 91500 0 370 0 1775 0 102632 0 0 0 PART I, LINE 4A SANDRA OAKES - SEVERANCE PAYMENT - $75,000 PART I, LINE 7 BONUSES FOR THE PRESIDENT ARE PROVIDED AT THE DISCRETION OF THE EXECUTIVE COMMITTEE BASED ON PERFORMANCE OUTCOMES AND FOR ALL OTHER STAFF AT THE DISCRECTION OF THE PRESIDENT BASED ON PERFORMANCE OUTCOMES. FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE CONSISTS OF FIVE MEMBERS FROM THE BOARD OF DIRECTORS WHO CAN, WHEN DELEGATED AUTHORITY BY THE BOARD, ACT WITH THE FULL AUTHORITY OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B LAND BANK TWIN CITIES, INC. PROVIDES A COPY OF THE COMPLETED FORM 990 TO ALL MEMBERS OF ITS FINANCE COMMITTEE AND BOARD OF DIRECTORS PRIOR TO ITS FILING WITH THE IRS. THE FINANCE COMMITTEE IS CHARGED WITH A FULL REVIEW OF THE DOCUMENT AT ONE OF ITS REGULARLY SCHEDULED MEETINGS, AFTER WHICH A COPY OF THE COMPLETED DOCUMENT IS CIRCULATED TO THE FULL BOARD OF DIRECTORS PRIOR TO ITS SUBMISSION. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION'S CONFLICT OF INTEREST (COI) POLICY APPLIES TO THE ORGANIZATION'S BOARD OF DIRECTORS, COMMITTEE MEMBERS, AND EMPLOYEES, WHO SIGN COI STATEMENTS. COI STATEMENTS ARE KEPT ON RECORD, REVIEWED BY PRESIDENT, AND AVAILABLE TO MEETING CHAIRS. EACH MEETING AGENDA INCLUDES A CALL FOR ANY CONFLICTS OF INTEREST. INDIVIDUALS WHO MAY HAVE A COI MUST DISCLOSE ALL FACTS MATERIAL TO THE COI TO THE CHAIR OR PRESIDENT. SUCH DISCLOSURE INCLUDING MATERIAL FACTS OF THE COI WILL BE REFLECTED IN THE MINUTES. IF A COI IS DETERMINED TO EXIST, AN INDIVIDUAL WHO HAS A COI WILL NOT PARTICIPATE IN THE BOARD'S DISCUSSION OF THE MATTER EXCEPT TO DISCLOSE MATERIAL FACTS AND TO RESPOND TO QUESTIONS. SUCH PERSON MUST NOT ATTEMPT TO EXERT HIS OR HER PERSONAL INFLUENCE WITH RESPECT TO THE MATTER, EITHER AT OR OUTSIDE THE MEETING. THE CHAIR OR OTHER INDIVIDUAL PRECIDING AT THE MEETING WILL PROVIDE AN OPPORTUNITY FOR THE BOARD TO DISCUSS THE MATTER WITHOUT THE PERSON WHO HAS THE COI PRESENT. THE PERSON KNOWN TO HAVE THE COI MAY NOT VOTE ON THE CONTRACT OR TRANSACTION. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION LEVELS ARE RESEARCHED USING COMPARABILITY DATA INCLUDING REVIEW OF PEER GROUP NON-PROFIT ENTITIES VIA PUBLICLY AVAILABLE FORM 990'S. THE BOARD APPROVES COMPENSATION LEVEL FOR THE PRESIDENT INCLUDING DOCUMENTATION AS NEEDED. THE BOARD MOST RECENTLY REVIEWED AND APPROVED EXECUTIVE PAY IN THE FIRST QUARTER OF 2023. FOR OTHER STAFF COMPENSATION, PAY LEVELS ARE BASED ON COMPARABILITY DATA AND MARKET COMPENSATION LEVELS FOR EACH POSITION, AS COMPILED BY THE PRESIDENT AND HR CONSULTANT. THE SALARY FOR SPECIFIC POSITIONS IS REVIEWED EACH TIME A JOB POSTING OCCURS. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2023. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, FINANCIAL STATEMENT, AND THE FORM 990 AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XII, LINE 2C: THE PROCESS FOR OVERSIGHT AND SELECTION OF AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM THE PRIOR YEAR. 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