Two Rivers Community Land Trust
- Assets
- $4.3m
- Revenue
- $848.7k
- Investments
- $0.0
- Employees
- 3
- Location
- Woodbury, MN
- Founding
- 07/2000
- Data as of
- 12/2023
- EIN
- 41-1971550
Organization Overview
Two Rivers Community Land Trust is located in Woodbury, MN. The organization was established in 2000. 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. As of 12/2023, Two Rivers Community Land Trust employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Two Rivers Community Land Trust 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, Two Rivers Community Land Trust generated $848.7k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.0% each year . All expenses for the organization totaled $828.5k during the year ending 12/2023. While expenses have increased by 11.6% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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 PROVIDE PERMANENTLY AFFORDABLE HOUSING ALTERNATIVES FOR LOW AND MODERATE INCOME INDIVIDUALS, FAMILIES, AND HOUSEHOLDS EARNING UP TO 80% OF MEDIAN INCOME WITHIN WASHINGTON COUNTY IN THE STATE OF MINNESOTA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OWNERSHIP SERVICES: PROVIDES BUYER OUTREACH, REFERRAL TO COMMUNITY HOUSING RESOURCES, TRAINING FOR POTENTIAL OCMMUNITY LAND TRUST HOMEBUYERS, FACILITATES BUYER PROCESS & CLOSING, PROVIDES POST PURCHASE SUPPORT TO OWNERS. HOUSING DEVELOPMENT: CREATES HOUSING DEVELOPMENT OPPORTUNITIES FOR NEW CONSTRUCTION & ACQUISISTION AND REHAB; NEGOTIATES PROJECTS WITH PARTNERS; DEVELOPS PROJECT PRO FORMA FOR MULTI-YEAR HOUSING DEVELOPMENT PROJECTS; NEGOTIATES FINANCING FOR PROGRAMS; RAISES HOUSING DEVELOPMENT PRIVATE & GOVERNMENT FUNDS; CREATES PARTNERSHIPS WITH CITIES & COUNTIES; FINANCIAL MANAGEMENT OF HOUSING DEVELOPMENT PROJECTS; WORKS WITH CONTRACTED SERVICE PROVIDER TO MANAGE REHAB ON UNITS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sunny Bjorklund Schultz Chair | OfficerTrustee | 2 | $0 |
Michael Meis Vice Chair | OfficerTrustee | 2 | $0 |
Tanner Johnson Treasurer | OfficerTrustee | 2 | $0 |
Gene Aho Secretary | OfficerTrustee | 2 | $0 |
Linnea Graffunder-Bartels Board Member | Trustee | 1 | $0 |
David White Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $185,280 |
| All other contributions, gifts, grants, and similar amounts not included above | $68,943 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $254,223 |
| Total Program Service Revenue | $593,798 |
| Investment income | $721 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $848,742 |
| 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. | $102,486 |
| Compensation of current officers, directors, key employees. | $16,398 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $24,810 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $12,737 |
| Payroll taxes | $11,488 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $9,605 |
| Advertising and promotion | $0 |
| Office expenses | $5,015 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $5,843 |
| Travel | $3,950 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $9,510 |
| All other expenses | $0 |
| Total functional expenses | $828,482 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,948 |
| Savings and temporary cash investments | $23,360 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,458 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,343,676 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $2,926,993 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,000 |
| Total assets | $4,301,435 |
| Accounts payable and accrued expenses | $11,162 |
| 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 | $0 |
| Secured mortgages and notes payable | $1,388,100 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,399,262 |
| Net assets without donor restrictions | $2,902,173 |
| 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 | $4,301,435 |