Place
- Assets
- $14.8m
- Revenue
- $2.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Minneapolis, MN
- Founding
- 08/2007
- Data as of
- 12/2023
- EIN
- 20-4361698
Organization Overview
Place is located in Minneapolis, MN. The organization was established in 2007. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Place is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Place generated $2.9m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 12.7% each year . All expenses for the organization totaled $7.6m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO BUILD A SUSTAINABLE, JUST, AND INSPIRING WORLD, ONE COMMUNITY AT A TIME.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PLACE WORKS WITH LOCAL GOVERNMENTS, FOUNDATIONS, AND COMMUNITY MEMBERS TO CREATE SUSTAINABLE, AFFORDABLE, MIXED-USE, MIXED-INCOME NEIGHBORHOODS FOR ARTISTS, UNDER-SERVED POPULATIONS FACING VARIOUS LIFE CHALLENGES, NONPROFIT ORGANIZATIONS, AND CREATIVE BUSINESSES. WITH PLACE'S GUIDANCE, THESE NEIGHBORHOODS WILL BE CREATED WITH VIGOROUS PUBLIC DIALOG, BUILT TO THE HIGHEST ENVIRONMENTAL STANDARDS, AND FILLED WITH PEOPLE FROM ALL BACKGROUNDS AND ECONOMIC CIRCUMSTANCES. THE PLACE TEAM ASSISTS ITS COMMUNITIES WITH EVERY ASPECT OF THE PROJECT FROM VISIONING TO PLANNING, FROM DESIGN TO FUNDING, FROM CONSTRUCTION TO SERVICE COORDINATION AND PROJECT MAINTENANCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chris Velasco Presid/exe Dir | OfficerTrustee | 55 | $0 |
Elizabeth Bowling Director | Trustee | 55 | $0 |
Garth Rockcastle Co-Vice Presid | OfficerTrustee | 5 | $0 |
Kerri Stahlecker Co-Vice Presid | OfficerTrustee | 5 | $0 |
Brent Webb Treasurer | OfficerTrustee | 5 | $0 |
Emily Monarez Co-Secretary | OfficerTrustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $170,451 |
| Noncash contributions included in lines 1a–1f | $153,300 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $170,451 |
| Total Program Service Revenue | $36,264,946 |
| Investment income | $265 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$33,499,216 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,936,446 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $155,951 |
| Fees for services: Accounting | $40,738 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $396,857 |
| Advertising and promotion | $88,203 |
| Office expenses | $217,335 |
| Information technology | $41,462 |
| Royalties | $0 |
| Occupancy | $14,902 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $90,666 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $66,483 |
| All other expenses | $821,980 |
| Total functional expenses | $7,553,724 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,490 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $5,949,822 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $75,191 |
| Investments—other securities | $0 |
| Investments—program-related | $7,378,762 |
| Intangible assets | $0 |
| Other assets | $1,391,771 |
| Total assets | $14,803,036 |
| Accounts payable and accrued expenses | $334,880 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $901,443 |
| Secured mortgages and notes payable | $3,020,702 |
| Unsecured mortgages and notes payable | $7,715,236 |
| Other liabilities | $604 |
| Total liabilities | $11,972,865 |
| Net assets without donor restrictions | $2,830,171 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $14,803,036 |