2025-08-12T08:58:15-05:00 2024-12-31 411397419 Abdo LLP 5201 Eden Ave Ste 250 Edina MN 55436 990 2024-01-01 410975738 Lake Street Council LAKE 6128220232 2925 Chicago Ave S 190 Minneapolis MN 55407 Allison Sharkey Executive Director 6128220232 2025-07-21 1 1 Steven D Anseth CPA P00552219 9528359090 2025-07-14 2024 2025-03-06 01:10:19Z Allison Sharkey 2925 Chicago Ave S 190 Minneapolis MN 55407 2330574 0 X www.Lakestreetcouncil.org X 1968 MN Lake Street Council engages, serves, and advocates for the Lake Street business community in Minneapolis to ensure the vitality and prosperity of the commercial corridor. The Lake Street Council fosters economic vitality and amplifies Lake Street's vibrancy to create a thriving and livable commercial corridor. 18 18 12 30 0 0 1527034 2227025 0 0 60955 95220 4344 -22116 1592333 2300129 916156 558735 0 0 931378 1024193 0 0 232129 645850 553469 2493384 2136397 -901051 163732 4149614 4378569 189624 254847 3959990 4123722 X Lake Street Council engages, serves, and advocates for the Lake Street business community in Minneapolis to ensure the vitality and prosperity of the commercial corridor. The Lake Street Council fosters economic vitality and amplifies Lake Street's vibrancy to create a thriving and livable commercial corridor. 0 0 821413 337455 Technical Assistance and Small Business Advising: The Lake Street Council provides small business advising in English, Spanish, and Somali. In 2024, our focus has moved to providing vital support to small businesses and entrepreneurs still struggling to succeed under challenging circumstances. We launched a workshop series focused on maintaining financial documentation, building credit, and planning for business expansion. We provided grants to businesses to improve their properties. We supported businesses through road construction. 270909 216280 We Love Lake Street (WLLA) Recovery Fund: In late May 2020, civil unrest erupted in the Lake Street corridor. More than 400 businesses were looted, damaged, or destroyed by fire in the aftermath. The events that unfolded during those weeks have had a deep and lasting impact on Lake Street. The broader community came together to support these impacted businesses, and the WLLS recovery fund raised more than $12 million dollars in a matter of weeks. The purpose of the WLLS recovery fund is to support the recovery of businesses and nonprofit organizations in the Lake Street corridor. To facilitate the distribution of funds, we created the WLLS recovery fund oversight committee (the "oversight committee"), which includes local leaders with a history of supporting Lake Street's diverse business community. The oversight committee was charged with making decisions about funding priorities and guidelines. The oversight committee's subcommittees decided who received funding and in what amount. In 2024 this fund continued to invest in grants and forgivable loans to displaced businesses that were seeking to reopen, to entrepreneurs who owned demolished properties who were seeking predevelopment support to start the process of rebuilding, and to community nonprofits that sought to redevelop demolished property to provide affordable commercial space for local small businesses. 177596 5000 Visitor Attraction and Placemaking Initiative: Through community activation events and millions of impressions online in the past year, we have uplifted individual businesses, highlighted our successes, and supported our partners. Our Lake Street Reimagined program continues to bring people out to discover and support Lake Street while creating opportunities for local artists. We provided funding for 20 murals, four sculptures and standalone installations, and two vinyl art installations. 175935 Corridor Promotion: Attracted customers to the area through promotion of the Lake Street corridor. 5000 Fiscal Sponsorship: If a nonprofit organization has not yet received its 501(c)(3) status, it could operate under Lake Street Council as their fiscal sponsor who accepted donations and managed funds on its behalf allowing the program to begin work while awaiting tax-exempt approval. Community Engagement: Lake Street Council ("LSC") supports the Lake Street community in Minneapolis to ensure the vitality and prosperity of the commercial corridor and its 16 surrounding neighborhoods. We engage entrepreneurs, employees, residents, and institutional stakeholders in programs that promote economic development. As the main business association for Lake Street, we regularly hear from business and property owners throughout the corridor about the concerns that matter to them, and our priorities shift to reflect the needs of the moment. Our core programs include community engagement through small business advising, visitor attraction, placemaking initiatives, and financial relief for small businesses and nonprofits. 180935 1450853 1 1 0 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 5 0 1 12 1 0 0 0 0 0 0 0 0 0 0 0 0 X 18 18 0 0 0 0 1 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MN X X Allison Sharkey 6128220232 2925 Chicago Ave S 190 Minneapolis MN 55407 Baba Letang President 2.00 X X 0 0 0 Vicki Karr Vice President/Secratary 2.00 X X 0 0 0 Ronnie Taylor Treasurer 2.00 X X 0 0 0 Hibo Abdi Director 1.00 X 0 0 0 Ted Campbell Director 1.00 X 0 0 0 Rich Esquivel Director 1.00 X 0 0 0 Hodan Guled Director 1.00 X 0 0 0 Staci Hesthaven Director 1.00 X 0 0 0 Julie Ingebresten Director 1.00 X 0 0 0 Enrique Blanco Executive Comittee 1.00 X 0 0 0 Dipankar Mukherjee Director 1.00 X 0 0 0 Miluska Novota Director 1.00 X 0 0 0 Alison Pence Director 1.00 X 0 0 0 Jackie Knight Executive Comittee 1.00 X 0 0 0 Ana Columba Reyes Director 1.00 X 0 0 0 Justin Bryant Director 1.00 X 0 0 0 Claudia Carrasco Director 1.00 X 0 0 0 Brittany Howard Director 1.00 X 0 0 0 Allison Sharkey Executive Director 40.00 X 116600 0 3900 116600 0 3900 1 0 0 0 0 6520 32000 435392 1753113 2227025 95220 95220 8329 32000 30445 -22116 -22116 2300129 0 0 73104 558735 558735 120500 77194 15654 27652 772108 511169 77835 183104 19657 19657 44617 44617 67311 42730 9275 15306 3012 3012 72963 72963 14 14 203176 143719 56417 3040 55011 46608 8403 9665 27 9628 10 49190 49185 5 27487 27487 5524 2441 3044 39 31000 31000 8340 8340 Supplies 31010 26982 1275 2753 Staff development 25539 199 25145 195 Bank Charges 13654 13629 25 Miscellaneous 10049 10049 7835 7835 2136397 1450853 453415 232129 1639309 1617900 2301218 2586240 202779 78600 6308 20791 0 75038 4149614 4378569 189624 131686 45864 0 77297 189624 254847 X 2486022 2461552 1473968 1662170 3959990 4123722 4149614 4378569 163732 0 X X 0 1 X 1 0 X 15041407 1481466 1323151 1527034 2227025 21600083 15041407 1481466 1323151 1527034 2227025 21600083 1709036 19891047 1050 385 65299 95220 161954 21762037 0.91400 0.93570 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 14 14 0 Part II-B, Line 1: Expenditures for services of Park Street Public LLC consulting related. 0 Lease liability 77297 77297 2300129 0 2300129 0 2300129 2136397 0 2136397 0 2136397 Annual Meeting 40329 32000 8329 2086 24356 4003 40329 32000 8329 2086 24356 4003 30445 -22116 1 CAPI USA 3702 E Lake Street Minneapolis MN 55408 411417198 501(c)(3) 10000 0 General support Colonial Market 2 LLC 10975 Jackson Drive Eden Prairie MN 55347 933889903 6000 0 General support Dem Properties 1108 East Lake Street Minneapolis MN 55407 301249810 25000 0 General support Said Hassan 3005 5th Avenue South Minneapolis MN 55408 474339833 10000 0 General support East Philips Neighborhood Institute 333 North Washington Avenue Suite 210 Minneapolis MN 55401 833630254 501(c)(3) 10000 0 General support Grass Roots LLC 322 W Lake Street Unit 211 Minneapolis MN 55408 881620740 25000 0 General support Greater Minneapolis Council of Churches (GMCC) 1100 East Lake Street Minneapolis MN 55407 410693933 501(c)(3) 11080 0 General support In the Heart of the Beast Puppet and Mask Theater 1500 East Lake Street Minneapolis MN 55407 411251313 501(c)(3) 6500 0 General support Ingebretsens Gift Shops Inc 1601 East Lake Street Minneapolis MN 55407 411418443 6040 0 General support Car-X Auto Service 3021 E Lake Street Minneapolis MN 55406 9500 0 General support Jungle Theatre 2951 Lyndale Avenue South Minneapolis MN 55408 411677757 501(c)(3) 13000 0 General support Kushite Art Gallery LLC 322 West Lake Street Minneapolis MN 55408 871823395 27500 0 General support Lul Bros Properties 3020 12th Avenue South Minneapolis MN 55407 823265092 50000 0 General support New York Plaza LLC 1304 East Lake Street Suite 100 Minneapolis MN 55407 113740690 12500 0 General support Ocampo Plaza LLC 1501 East Lake Street Minneapolis MN 55407 922298880 10000 0 General support Odigo Properties LLC 2213 25th Avenue South Minneapolis MN 55406 990800975 24500 0 General support Don Pedro LLC 6744 11th Avenue South Minneapolis MN 55423 043617540 25000 0 General support PrimeMed PLLC 322 West Lake Street STE 101 Minneapolis MN 55408 920938233 5743 0 General support Queermunity Collaborative LLC 3036 Hennepin Avenue Minneapolis MN 55408 922017132 10000 0 General support Lake Auto Center 610 East Lake Street Minneapolis MN 55407 852953661 10000 0 General support Solcana Fitness LLC 1915 E 22nd St Minneapolis MN 55404 464995491 22000 0 General support Southside Community Health Services Inc 4243 4th Avenue S Minneapolis MN 55409 237113799 501(c)(3) 50000 0 General support St Paul's Evangelical Lutheran Church 3516 14th Ave S Minneapolis MN 55407 410711499 501(c)(3) 5500 0 General support Taco Taxi Inc 1511 East Lake Street Minneapolis MN 55407 203680486 14350 0 General support TruCare Clinic LLC 1527 East Lake Street Suite 1 Minneapolis MN 55407 882302614 7080 0 General support Umbra Arts LLC 2218 Hayes Street Northeast Minneapolis MN 55418 990741787 10648 0 General support 7 19 Part I, Line 2: During the grant application process, grantees are asked to submit information about the use of the grant (e.g. repair building damage or replace inventory, equiptment or furnishes.) Once the funds have been dispursed, grantees are asked to provide periodic reports on the use of funds (typically at six-month internval), including before and after photographic documentation. The organization uses such reports to monitor the appropriate use of grant funds and to ensure that the funds aren't otherwise derived. Form 990, Part VI, Section A, line 6 Membership shall consist of one class of membership. Criteria for membership shall include completing an application for membership and paying annual dues. Members are entitled to vote and have equal rights and preferences in matters not otherwise provided for by the board. The term of membership shall be one year. Form 990, Part VI, Section B, line 11b The Executive Director has reviewed form 990 for the tax year 2024, and presented an overview of it to members of the Board of Directors. Form 990, Part VI, Section B, line 12c If a perceived or potential conflict is identified, board members are asked to state their perceived or potential conflict in writing to the board, where guidance deemed appropriate is determined. Board members are also required to sign the conflict of interest policy. Form 990, Part VI, Section B, line 15 For the Executive Director, an annual evaluation has been conducted by the Executive Committee of the Board. The committee has consulted the Minnesota Council of Nonprofits' survey of nonprofit organization salaries & benefits. For other regular employees, the annual evaluation has been conducted by the Executive Director and the survey has also consulted. Form 990, Part VI, Section C, line 18 Documents are made available upon request and the 990 can be viewed on Guidestar.com Form 990, Part VI, Section C, line 19 LSC's governing documents, conflict of interest policy and financial statements are available to the public upon request. Form 990, Part XII, Line 2C: The process has not changed from prior year.