Two Rivers Community Land Trust
- Assets
- $3.2m
- Revenue
- $1.0m
- Investments
- $0.0
- Employees
- 4
- Location
- Woodbury, MN
- Founding
- 07/2000
- Data as of
- 12/2021
- 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 12/2021, Two Rivers Community Land Trust employed 4 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 12/2021, Two Rivers Community Land Trust generated $1.0m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 19.1% each year . All expenses for the organization totaled $839.0k during the year ending 12/2021. While expenses have increased by 17.5% per year over the past 6 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
2021
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 |
|---|---|---|---|
Sherry Timmermann Goodpaster Executive Di | Officer | 40 | $92,924 |
Sunny Bjorklund Schultz Chair | OfficerTrustee | 2 | $0 |
Gene Aho Secretary | OfficerTrustee | 2 | $0 |
Michael Meis Vice Chair | OfficerTrustee | 2 | $0 |
Alison Denoma Treasurer | OfficerTrustee | 2 | $0 |
Tanner Johnson Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $247,369 |
| All other contributions, gifts, grants, and similar amounts not included above | $153,499 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $400,868 |
| Total Program Service Revenue | $602,523 |
| Investment income | $211 |
| 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 | $1,003,602 |
| 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. | $92,924 |
| Compensation of current officers, directors, key employees. | $14,868 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,242 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $9,365 |
| Payroll taxes | $8,408 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,870 |
| Fees for services: Accounting | $3,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,733 |
| Advertising and promotion | $0 |
| Office expenses | $5,771 |
| Information technology | $1,014 |
| Royalties | $0 |
| Occupancy | $900 |
| Travel | $3,523 |
| 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 | $8,819 |
| All other expenses | $75 |
| Total functional expenses | $839,009 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,994 |
| Savings and temporary cash investments | $148,009 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $14,544 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $337,722 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $2,654,491 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,000 |
| Total assets | $3,162,760 |
| Accounts payable and accrued expenses | $6,617 |
| 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 | $443,700 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $450,317 |
| Net assets without donor restrictions | $2,712,443 |
| 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 | $3,162,760 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Two Rivers Community Land Trust has recieved totaling $89,830.
| Awarding Organization | Amount |
|---|---|
Hugh J Andersen Foundation Bayport, MN PURPOSE: GENERAL OPERATING & CAPITAL SUPPORT | $44,000 |
Otto Bremer Trust St Paul, MN PURPOSE: GENERAL OPERATIONS | $40,000 |
Mightycause Charitable Foundation Marianna, FL PURPOSE: UNRESTRICTED | $5,830 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Family Housing Fund Minneapolis, MN | $55,836,528 | $42,355,449 |
Aeon Minneapolis, MN | $205,354,447 | $34,369,814 |
Governmental And Educational Assistance Corporation Brooklyn Park, MN | $65,629,127 | $32,792,478 |
Habitat For Humanity International Inc St Paul, MN | $95,417,664 | $44,081,313 |
One Vision Clear Lake, IA | $49,722,327 | $26,134,344 |
Trellis Co Minneapolis, MN | $174,341,513 | $41,938,944 |
Integrated Community Services Inc Green Bay, WI | $950,571 | $23,339,700 |
Friendship Haven Inc Fort Dodge, IA | $50,931,455 | $22,390,428 |
Community Housing Corporation Of America Inc St Paul, MN | $54,692,887 | $61,922,441 |
Sholom Home East Inc St Paul, MN | $55,805,227 | $20,264,604 |
Homestead At Rochester Inc Eden Prairie, MN | $84,661,096 | $19,652,604 |
Jeremiah Program Minneapolis, MN | $39,745,824 | $13,376,447 |