2013-10-15T13:36:03-05:00 2012-12-31 411647057 MAHONEYULBRICHCHRISTIANSEN & RUSS PA 30 EAST PLATO BOULEVARD SAINT PAUL MN 551071809 990 2012-01-01 412019107 WEST HENNEPIN AFFORDABLE HOUSING LAND TRUST WEST 9524017071 5101 THIMSEN AVENUE NO 200 MINNETONKA MN 55345 JANET A LINDBO 9524017071 2013-09-27 1 DANIEL J FLICEK P00076153 6512276695 2013-09-27 2012 2016-02-25 16:41:14Z HOMES WITHIN REACH JANET A LINDBO 5101 THIMSEN AVENUE NO 200 MINNETONKA MN 55345 2378103 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 997872 1202089 78820 101375 -47185 -109814 5800 0 1035307 1193650 0 0 0 0 153743 163973 0 0 38125 66932 73737 220675 237710 814632 955940 8301271 9336636 851740 931165 7449531 8405471 X TO CREATE AND PRESERVE AFFORDABLE HOME OWNERSHIP IN WESTERN SUBURBAN HENNEPIN COUNTY TO LOW AND MODERATE INCOME HOUSEHOLDS. 0 0 99744 -8678 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 2012, THE ORGANIZATION OWNS 97 PROPERTIES. DURING 2012, 9 HOUSES WERE SOLD TO QUALIFIED HOMEOWNERS. 99744 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 1 0 0 0 0 0 0 0 0 1 9 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 200 MINNETONKA MN 55398 JOEL PAPA 1.00 X 0 0 0 AMEENA ELSHERSHABY 1.00 X 0 0 0 WINNIE WHITE-SCHERBER 1.00 X X 0 0 0 ROBERT HAMILTON 1.00 X X 0 0 0 TERRY SCHNEIDER 1.00 X X 0 0 0 MARGARET WILLIE 1.00 X 0 0 0 JERRY NYSTUEN 1.00 X 0 0 0 PATTI MARRINAN 1.00 X X 0 0 0 GENE HAUGLAND 1.00 X 0 0 0 BRIAN SULLIVAN 1.00 X 0 0 0 REBECCA EDMONDSON 1.00 X 0 0 0 CHRISTINE JOHNSON 1.00 X 0 0 0 JANET A LINDBO 32.00 X 69814 0 10771 69814 0 10771 0 0 0 0 0 1170090 31999 27000 1202089 HOME BUYER CLOSING FEE 531390 69000 69000 LAND LEASE FEES 531390 32123 32123 MISCELLANEOUS 531390 252 252 101375 239 239 1074400 1184453 -110053 -110053 -110053 1193650 -8678 0 239 80585 37949 28945 13691 59651 28092 21425 10134 3264 1537 1173 554 10543 4965 3786 1792 9930 4676 3567 1687 9263 4078 2935 2250 8000 8000 3051 2412 639 5182 1708 1708 1766 6589 1764 4234 591 15180 7149 5452 2579 600 275 216 109 2722 2722 1078 1078 6186 185 6001 CONTRACT SERVICES 6478 4697 1781 MISCELLANEOUS 5564 859 3025 1680 EQUIPMENT REPAIR/RENTAL 3844 1810 1381 653 237710 99744 99841 38125 270630 274999 3795 86700 2460 1895 571852 607425 3876 3037 7442 5712 2808 1730 7445850 8360850 8301271 9336636 68173 67789 82000 5000 15000 230667 465900 848376 851740 931165 X 7440286 8404730 9245 741 7449531 8405471 8301271 9336636 955940 0 X X 0 1 X 1 1 1 X 1448565 1287864 1254506 997722 1202089 6190746 1448565 1287864 1254506 997722 1202089 6190746 6190746 2189 788 1182 605 239 5003 6195749 6463766 0.99920 0.99860 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 7442 5712 1730 1730 LAND HELD IN TRUST 8360850 C 8360850 X 1193650 0 1193650 0 1193650 237710 0 237710 0 237710 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: 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 PROVIDE THE PROGRAM TO TRANSFORM LIVES THROUGH HOMEOWNERSHIP X 5000 5000 0 1 1 JERRY NYSTUEN PROVIDE THE PROGRAM TO TRANSFORM LIVES THROUGH HOMEOWNERSHIP X 10000 10000 0 1 1 15000 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 X 1 27000 FAIR MARKET VALUE 0 0 0 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.