Partnership In Property Commercial Land Trust
- Assets
- $537.5k
- Revenue
- $564.3k
- Investments
- $0.0
- Employees
- 1
- Location
- Minneapolis, MN
- Founding
- Data as of
- 12/2021
- EIN
- 87-1177063
Organization Overview
Partnership In Property Commercial Land Trust is located in Minneapolis, MN. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Partnership In Property Commercial 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF PARTNERSHIP IN PROPERTY COMMERCIAL LAND TRUST (PIPCLT) IS TO (RE)DEVELOP AND PRESERVE LONG-TERM AFFORDABLE COMMERCIAL SPACES THROUGH COMMUNITY DRIVEN OWNERSHIP OF LAND.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RACIAL EQUITY: PIPCLT WORKS TO EXPLICITLY ADDRESS RACIAL, GENDER, AND ECONOMIC DISPARITIES IN OUR COMMUNITY. ALL DECISIONS ARE MADE USING AN INTERSECTIONAL EQUITY LENS. COMMUNITY OWNERSHIP: COMMERCIAL LAND TRUSTS (CLTS) DEFINE LAND AS BEING "COMMUNITY OWNED" BECAUSE THE LAND IS ENTIRELY OWNED AND MANAGED BY A COMMUNITY-BASED MEMBERSHIP ORGANIZATION ENSURING LONG-TERM AGENCY OVER ASSETS. COMMUNITY ENGAGEMENT AND ORGANIZING: PIPCLT BELIEVES THAT TRULY PARTICIPATORY COMMUNITY ENGAGEMENT INVOLVES SHARED LEARNING AND THAT DECISION MAKING BUILDS TRUST AND WILL YIELD THE HIGHEST IMPACT FOR OUR COMMUNITY. COMMUNITY WILL BE ENGAGED THROUGHOUT THE DEVELOPMENT PROCESS FROM PROPERTY SELECTION TO BUSINESS SELECTION. ANTI-DISPLACEMENT: DISPLACEMENT OF COMMUNITY-OWNED BUSINESSES HAS PSYCHOLOGICAL IMPACTS ON RESIDENTS. WE WILL USE OUR RESOURCES TO PRESERVE AND CREATE AFFORDABLE COMMERCIAL SPACES INDEFINITELY. CTLS USE LONG-TERM COMMUNITY OWNERSHIP OF LAND THROUGH A 99-YEAR GROUND LEASE AGREEMENT, WHICH HAS DEMONSTRATED EFFECTIVENESS IN COMBATING DISPLACEMENT OF OCCUPANTS. IN 2021, THE NEW ORGANIZATION WAS INCORPORATED AND RECEIVED ITS 501C3 STATUS, HIRED AN EXECUTIVE DIRECTOR, AND ESTABLISHED A BOARD OF DIRECTORS. THE ORGANIZATION ACQUIRED ITS FIRST PROPERTY IN DECEMBER 2021.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Domonique Jones Executive Director | Officer | 40 | $39,858 |
Danielle Mkali Board Chair | OfficerTrustee | 2 | $0 |
Mark Fick Treasurer | OfficerTrustee | 1 | $0 |
Elizabeth Coco Secretary | OfficerTrustee | 1 | $0 |
Andrew Mclean Director | Trustee | 1 | $0 |
Cameran Bailey Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $83,815 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $480,506 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $564,321 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $564,321 |
| 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. | $39,858 |
| Compensation of current officers, directors, key employees. | $15,943 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,510 |
| Payroll taxes | $3,793 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $29,586 |
| Advertising and promotion | $0 |
| Office expenses | $1,097 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $6 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $142 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $16 |
| All other expenses | $0 |
| Total functional expenses | $82,008 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $154,035 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $92,290 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $291,190 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $537,515 |
| Accounts payable and accrued expenses | $2,625 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $50,000 |
| Other liabilities | $2,577 |
| Total liabilities | $55,202 |
| Net assets without donor restrictions | $50,000 |
| Net assets with donor restrictions | $432,313 |
| 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 | $537,515 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Partnership In Property Commercial Land Trust has recieved totaling $20,000.
| Awarding Organization | Amount |
|---|---|
Headwaters Foundation For Justice Minneapolis, MN PURPOSE: PROJECT SUPPORT | $20,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Wbd Inc Madison, WI | $14,868,892 | $9,399,155 |
Metropolitan Economic Development Association Minneapolis, MN | $45,113,584 | $12,064,856 |
Great Plains Institute For Sustainable Development Minneapolis, MN | $9,896,004 | $8,891,636 |
Minneapolis - St Paul Regional Economic Development Partnership Saint Paul, MN | $5,371,081 | $6,502,146 |
Madison Development Corporation Madison, WI | $34,294,523 | $5,181,232 |
Center For Economic Inclusion Saint Paul, MN | $9,315,769 | $9,776,985 |
Greater Madison Convention & Visitor Bureau Inc Madison, WI | $7,711,633 | $4,933,152 |
Nextstage Bloomington, MN | $2,654,997 | $4,431,008 |
Grow South Dakota Sisseton, SD | $70,205,734 | $6,159,440 |
Wolf Run Village Inc Watford City, ND | $13,751,715 | $5,775,669 |
Minnesota Business Finance Corporation St Cloud, MN | $6,710,385 | $3,673,437 |
Madison Region Economic Partnership Inc Madison, WI | $2,651,221 | $3,362,304 |