2014-10-09T16:25:11-05:00 2013-12-31 411647057 MAHONEYULBRICHCHRISTIANSEN & RUSS PA 30 EAST PLATO BOULEVARD SAINT PAUL MN 551071809 990 2013-01-01 412019107 WEST HENNEPIN AFFORDABLE HOUSING LAND TRUST WEST 9524017071 5101 THIMSEN AVENUE NO 202 MINNETONKA MN 55345 JANET A LINDBO EXECUTIVE DIRECTOR 9524017071 2014-09-04 1 DANIEL J FLICEK P00076153 6512276695 2014-09-04 2013 2015-11-30 17:44:51Z X HOMES WITHIN REACH JANET A LINDBO 5101 THIMSEN AVENUE NO 202 MINNETONKA MN 55345 2728822 0 X WWW.HOMESWITHINREACH.ORG X 2001 MN THE ORGANIZATION PROVIDES PERMANENTLY AFFORDABLE HOUSING OWNERSHIP OPPORTUNITIES FOR LOW TO MODERATE INCOME PEOPLE WITHIN WESTERN SUBURBAN HENNEPIN COUNTY. 12 12 2 12 0 0 1202089 1502135 101375 107973 -109814 -315397 0 0 1193650 1294711 0 0 0 0 163973 193693 0 0 30852 73737 100385 237710 294078 955940 1000633 9336636 10457115 931165 1051011 8405471 9406104 X TO CREATE AND PRESERVE AFFORDABLE HOME OWNERSHIP IN WESTERN SUBURBAN HENNEPIN COUNTY TO LOW AND MODERATE INCOME HOUSEHOLDS. 0 0 107418 -207638 THE ORGANIZATION ACQUIRES SINGLE FAMILY PROPERTIES, RETAINS OWNERSHIP OF THE LAND, AND SELLS THE HOMES ON THE LAND TO QUALIFYING BUYERS. THE LAND IS LEASED TO HOMEOWNERS THROUGH A 99-YEAR RENEWABLE GROUND LEASE THAT AFFORDS THE OWNER MOST OF THE SAME RIGHTS AS AN OTHER PROPERTY OWNER. THE REMOVAL OF THE MARKET VALUE OF THE LAND FROM THE MORTGAGE EQUATION PROVIDES INITIAL AFFORDABILITY. PERMANENT AFFORDABILITIY IS OBTAINED THROUGH TWO PROVISIONS FOUND IN THE GROUND LEASE WITH THE HOMEBUYER. THE FIRST IS THE PRICING FORMULA THAT PROVIDES THE OWNER WITH A FAIR AMOUNT OF EQUITY WHILE ENSURING THE SALE PRICE FOR SUBSEQUENT LOW TO MODERATE INCOME HOUSEHOLDS IS AFFORDABLE. THE SECOND IS A RESTRICTION THAT REQUIRES THE HOMEOWNER TO SELL TO EITHER ANOTHER LOW TO MODERATE INCOME HOUSEHOLD OR BACK TO THE ORGANIZATION. AT DECEMBER 2013, THE ORGANIZATION OWNS 106 PROPERTIES. DURING 2013, 9 HOUSES WERE SOLD TO QUALIFIED HOMEOWNERS. 107418 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 1 0 0 0 1 0 0 0 0 0 0 0 0 0 1 10 0 1 2 1 0 0 0 0 0 0 0 0 0 0 X 12 12 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 0 0 0 0 0 MN X X THE ORGANIZATION 9524017071 5101 THIMSEN AVENUE SUITE 202 MINNETONKA MN 55345 PATTI MARRINAN VICE-PRESIDENT 1.00 X X 0 0 0 TERRY SCHNEIDER TREASURER 1.00 X X 0 0 0 WINNIE WHITE-SCHERBER SECRETARY 1.00 X X 0 0 0 ROBERT HAMILTON PRESIDENT 1.00 X X 0 0 0 JOEL PAPA BOARD MEMBER 1.00 X 0 0 0 JENNIFER SMITH BOARD MEMBER 1.00 X 0 0 0 MARGARET WILLIE BOARD MEMBER 1.00 X 0 0 0 CHRIS TRAILER BOARD MEMBER 1.00 X 0 0 0 GENE HAUGLAND BOARD MEMBER 1.00 X 0 0 0 BRIAN SULLIVAN BOARD MEMBER 1.00 X 0 0 0 CHRISTINE JOHNSON BOARD MEMBER 1.00 X 0 0 0 JANET A LINDBO EXECUTIVE DIRECTOR 40.00 X 82926 0 14591 82926 0 14591 0 0 0 0 0 1494741 7394 1502135 HOME BUYER CLOSING FEES 531390 71000 71000 LAND LEASE FEES 531390 35404 35404 MISCELLANEOUS 531390 1569 1569 107973 214 214 1118500 1434111 -315611 -315611 -315611 1294711 -207638 0 214 97517 33600 51465 12452 70842 24409 37387 9046 2832 976 1494 362 10783 3715 5691 1377 11719 4038 6185 1496 21866 18551 1315 2000 11600 11600 2614 50 1765 799 9548 7814 1734 10073 3387 6208 478 17557 6049 9266 2242 414 133 218 63 2986 2986 1617 764 853 5273 5273 CONTRACT SERVICES 10282 1983 8299 EQUIPMENT REPAIR/RENTAL 4206 1449 2220 537 MISCELLANEOUS 2349 500 1849 294078 107418 155808 30852 274999 248749 86700 56198 1895 0 607425 787202 3037 5493 15952 7329 1730 8623 8360850 9350850 9336636 10457115 67789 63970 15000 5000 848376 982041 931165 1051011 X 8404730 9402363 741 3741 8405471 9406104 9336636 10457115 1000633 0 X X 0 1 X 1 1 1 X 1287864 1254506 997722 1202089 1502135 6244316 1287864 1254506 997722 1202089 1502135 6244316 6244316 788 1182 605 239 214 3028 6247344 5994497 0.99950 0.99920 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 15952 7329 8623 8623 LAND HELD IN TRUST 9350850 C 9350850 X 1294711 0 1294711 0 1294711 294078 0 294078 0 294078 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. GENE HAUGLAND BOARD MEMBER PROVIDE THE PROGRAM TO TRANSFORM LIVES THROUGH HOMEOWNERSHIP X 5000 5000 0 1 1 5000 TERRY SCHNEIDER TREASURER OF WHAHLT AND IS THE MAYOR OF THE CITY OF MINNETONKA 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 11 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 FROM THE PRIOR YEAR.