2020-10-14T13:06:04-05:00 2019-12-31 411647057 MAHONEYULBRICHCHRISTIANSEN & RUSS PA 10 RIVER PARK PLAZA SUITE 800 SAINT PAUL MN 55107 990 2019-01-01 412019107 WEST HENNEPIN AFFORDABLE HOUSING LAND TRUST WEST 9524017071 5101 THIMSEN AVENUE NO 202 MINNETONKA MN 55345 JANET A LINDBO EXECUTIVE DIRECTOR 9524017071 2020-10-13 1 MARC A KOTSONAS P00544551 6512276695 2020-10-13 24.118.61.118 2020-10-13 13:34:30 CD P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 8FCC0AE5B5C62EA2E1ECCE65A8D774828604CBA2 2019 2021-01-29 14:40:06Z HOMES WITHIN REACH JANET A LINDBO 5101 THIMSEN AVENUE NO 202 MINNETONKA MN 55345 3269948 0 X WWW.HOMESWITHINREACH.ORG X 2001 MN THE ORGANIZATION PROVIDES PERMANENTLY AFFORDABLE HOUSING OWNERSHIP OPPORTUNITIES FOR LOW TO MODERATE INCOME PEOPLE WITHIN SUBURBAN HENNEPIN COUNTY. 9 9 3 10 0 0 1767647 1792243 102324 112801 -524696 -732815 0 0 1345275 1172229 0 0 0 0 177330 185645 0 0 37635 88159 116490 265489 302135 1079786 870094 14487011 16113518 535484 1291897 13951527 14821621 X WEST HENNEPIN AFFORDABLE HOUSING LAND TRUST (WHAHLT) DBA HOMES WITHIN REACH (HWR) WAS CREATED IN MAY 2001; A COMMUNITY LAND TRUST WHOSE SERVICE AREA IS THE 44 COMMUNITIES OF SUBURBAN HENNEPIN COUNTY; AND CURRENTLY ACTIVE IN TWELVE (12) COMMUNITIES IN THE SUBURBS OF HENNEPIN COUNTY. WEST HENNEPIN AFFORDABLE HOUSING LAND TRUST VISION IS TO TRANSFORM PEOPLE'S LIVES THROUGH HOMEOWNERSHIP. THE MISSION IS TO USE THE COMMUNITY LAND TRUST PRACTICE TO PROVIDE AFFORDABLE HOMEOWNERSHIP FOR WORKING FAMILIES THAT WOULD BE OTHERWISE UNABLE TO PURCHASE A HOME IN THE WEST HENNEPIN SUBURBAN COMMUNITIES, OFFERING BOTH COMMUNITIES AND HOMEBUYERS THE ABILITY TO SUSTAIN PERMANENTLY AFFORDABLE HOMEOWNERSHIP. 0 0 89419 -620218 WEST HENNEPIN AFFORDABLE HOUSING LAND TRUST (WHAHLT) DBA HOMES WITHIN REACH (HWR) HAS IMPLEMENTED THE COMMUNITY LAND TRUST PRACTICE IN TWELVE (12) HENNEPIN COUNTY SUBURBAN COMMUNITIES SINCE THE SPRING OF 2002. WHAHLT WAS CREATED TO INCREASE THE NUMBER OF HOMEOWNERSHIP OPPORTUNITIES THAT EXIST FOR WORKING HOUSEHOLDS IN SUBURBAN HENNEPIN COUNTY. THE MISSION IS TO USE THE COMMUNITY LAND TRUST PRACTICE TO PROVIDE PERMANENTLY AFFORDABLE OWNERSHIP HOUSING FOR WORKING FAMILIES THAT WOULD BE OTHERWISE UNABLE TO BUY A HOME IN THE HENNEPIN SUBURBAN COMMUNITIES, OFFERING BOTH COMMUNITIES AND HOMEBUYERS THE ABILITY TO SUSTAIN LONG-TERM AFFORDABLE HOMEOWNERSHIPTHIS IS ACHIEVED BY ACQUIRING AND RETAINING THE OWNERSHIP OF REAL PROPERTY, REHABILITATING AND THEN SELLING THE IMPROVEMENTS (HOME) TO HOMEOWNERS EARNING LESS THAN 80% AREA MEDIAN INCOME. THIS ARRANGEMENT BETWEEN THE HOMEOWNER AND HWR PROTECTS HOUSING AFFORDABILITY IN PERPETUITY BY ENSURING THAT THE HOME IS AFFORDABLE FOR LOW TO MODERATE INCOME WORKFORCE HOUSEHOLDS UPON THE SALE AND FUTURE SALES OF A SINGLE-FAMILY HOME. AS OF JULY 29, 2019, WHAHLT HAS ACQUIRED 154 PROPERTIES SINCE IT BEGAN CREATING AND PRESERVING AFFORDABLE HOMEOWNERSHIP AND HAS ASSISTED 175 FAMILIES IN PURCHASING A HOMES IN THE COMMUNITIES OF BLOOMINGTON, BROOKLYN PARK, DEEPHAVEN, EDINA, EDEN PRAIRIE, GOLDEN VALLEY, MAPLE GROVE, MINNETONKA, NEW HOPE, RICHFIELD, ST. LOUIS PARK AND WAYZATA. THE REASON FOR GROWING IN THESE SPECIFIC COMMUNITIES IS THAT EACH ONE OF THESE CITIES HAS DEMONSTRATED A WILLINGNESS TO COLLABORATE WITH WHAHLT IN CREATING AFFORDABLE HOMEOWNERSHIP. THE PROGRAM OFFERS AN OPPORTUNITY FOR WORK-FORCE HOUSEHOLDS TO BECOME HOMEOWNERS, WHICH IN TURN STABILIZES THE FAMILY UNIT, ADDS VALUE TO THE COMMUNITY WHERE THEY WORK OR LIVE, BY INCREASING THE LABOR POOL TO LOCAL BUSINESSES, ADDING NEW FAMILIES TO THE COMMUNITY, PRESERVING AND REHABILITATING OF EXISTING HOUSING STOCK AND PROVIDING A MECHANISM TO INVEST IN LONG-TERM AFFORDABLE HOMEOWNERSHIP, THEREBY LINKING HOUSING WITH JOBS, TRANSIT AND SUPPORT SERVICES. 89419 1 1 0 0 0 0 0 0 0 0 1 0 1 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 10 0 3 1 0 0 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 0 0 0 MN X THE ORGANIZATION 9524017071 5101 THIMSEN AVENUE SUITE 202 MINNETONKA MN 55345 BRIAN SULLIVAN PRESIDENT 1.00 X X 0 0 0 NOEL KLINNERT VICE-PRESIDENT 1.00 X X 0 0 0 STEVE SCHMIDT SECRETARY 1.00 X X 0 0 0 BRAD WIERSUM TREASURER 1.00 X X 0 0 0 FATEMAH GREEN BOARD MEMBER 1.00 X 0 0 0 SHELIA STAMPER BOARD MEMBER 1.00 X 0 0 0 BARRETT ANDERSON BOARD MEMBER 1.00 X 0 0 0 ELISE DURBIN BOARD MEMBER 1.00 X 0 0 0 DAN JOHNSON BOARD MEMBER 1.00 X 0 0 0 JANET LINDBO EXECUTIVE DIRECTOR 40.00 X 90519 0 11332 90519 0 11332 0 0 0 0 0 1741882 50361 1792243 HOME BUYER CLOSING FEES 531390 59000 59000 LAND LEASE FEES 531390 53722 53722 MISCELLANEOUS 531390 79 79 112801 204 204 1364700 2097719 -733019 -733019 -733019 1172229 -620218 0 204 101850 29537 49053 23260 67506 22470 41019 4017 4200 1502 2698 12089 3727 6462 1900 5380 3764 1616 16000 16000 23608 1700 21808 100 16387 16387 3948 316 3604 28 3108 959 1661 488 21383 6592 11430 3361 3870 1193 2069 608 828 255 443 130 10412 10412 MISCELLANEOUS 8268 5043 3225 EQUIPMENT REPAIR/RENTAL 3298 1017 1763 518 302135 89419 175081 37635 358970 621505 101286 344980 3037 1711 291000 481625 10098 10659 20954 19266 1270 1688 13721350 14651350 14487011 16113518 36659 132676 100000 498825 1059221 535484 1291897 X 13951527 14802421 19200 13951527 14821621 14487011 16113518 870094 0 X X 0 1 X 1 1 1 X 1562576 1367562 1710460 1767647 1792243 8200488 1562576 1367562 1710460 1767647 1792243 8200488 8200488 105 111 112 167 204 699 8201187 7269544 0.99990 0.99990 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 20954 19266 1688 1688 LAND HELD IN TRUST 14651350 C 14651350 X 3269948 2097719 2097719 1172229 0 1172229 2399854 2097719 2097719 302135 0 302135 PART X, LINE 2: THE LAND TRUST IS NOT CURRENTLY UNDER EXAMINATION BY ANY TAXING JURISDICTION. FEDERAL AND STATE TAX AUTHORITIES GENERALLY HAVE THE RIGHT TO EXAMINE INCOME TAX RETURNS FOR A PRIOR OF THREE YEARS AFTER THEY ARE FILED. THE LAND TRUST EVALUATES ALL SIGNIFICANT TAX POSITIONS AS REQUIRED BY ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA. AS OF DECEMBER 31, 2019, MANAGEMENT DOES NOT BELIEVE THEY HAVE TAKEN ANY POSITIONS THAT WOULD REQUIRE THE RECORDING OF ANY ADDITIONAL TAX LIABILITY, NOR DOES IT BELIEVE THAT THERE ARE ANY UNREALIZED TAX BENEFITS THAT WOULD EITHER INCREASE OR DECREASE WITHIN THE NEXT YEAR. PART XI, LINE 2D - OTHER ADJUSTMENTS: DIRECT PROPERTY COSTS 2,097,719. PART XII, LINE 2D - OTHER ADJUSTMENTS: DIRECT PROPERTY COSTS 2,097,719. BRAD WIERSUM TREASURER OF WHAHLT AND THE MAYOR OF THE CITY OF MINNETONKA 750000 WHAHLT HAS A $750,000 LINE OF CREDIT WITH THE CITY OF MINNETONKA. 0 FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERSHIP OF THE TRUST CONSISTS OF SUPPORTING MEMBERS, LEASEHOLD MEMBERS, AND GENERAL MEMBERS. THE LEASEHOLD AND GENERAL MEMBERS ELECT THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS REVIEWED BY THE EXECUTIVE COMMITTEE AND THEN IT IS PRESENTED TO THE BOARD FOR REVIEW AND THEIR APPROVAL. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF DIRECTORS AND STAFF ANNUALLY COMPLETE THE WRITTEN POLICY AND IT IS REVIEWED BY THE BOARD AND HANDLED ACCORDINGLY. NO ISSUES TO DATE. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO PUBLIC UPON REQUEST. FORM 990, PART XII, LINE 2C THE PROCESS HAS NOT CHANGED SINCE THE PRIOR YEAR.