PLACE: Form 990, tax year 2010
View the entire original 990 at ProPublica ↗
- Organization
- PLACE (EIN 20-4361698)
- Tax period
- 2010-01-01 to 2010-12-31
- Filed
- 2011-11-15
- IRS object ID
- 201103199349303875
- Schema version
- 2010v3.4
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2011-11-15T10:52:11-06:00 | Timestamp |
| Tax Period End Date | 2010-12-31 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | OLSEN THIELEN & CO LTD | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2675 LONG LAKE ROAD | AddressLine1 |
| City | ST PAUL | City |
| State | MN | State |
| ZIP Code | 55113 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2010-01-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 204361698 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PLACE (PROJECTS LINKING ART COMMUNITY & | BusinessNameLine1 |
| Business Name Line2 | ENVIRONMENT) | BusinessNameLine2 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | PLAC | NameControl |
| Phone | 6123093889 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 100 PORTLAND AVENUE SOUTH NO 100 | AddressLine1 |
| City | MINNEAPOLIS | City |
| State | MN | State |
| ZIP Code | 55401 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | CHRIS VELASCO | Name |
| Title | EXECUTIVE DIRECTOR | Title |
| Phone | 6123093889 | Phone |
| Date Signed | 2011-11-11 | DateSigned |
| Authorize Third Party | 1 | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | LINDA M NELSON | Name |
| Phone | 6514834521 | Phone |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2010 | TaxYear |
| Build TS | 2016-02-24 21:20:13Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | CHRIS VELASCO | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 100 PORTLAND AVENUE SOUTH NO 100 | AddressLine1 |
| City | MINNEAPOLIS | City |
| State | MN | State |
| ZIP Code | 55401 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 232279 | GrossReceipts |
| Group Return For Affiliates | 0 | GroupReturnForAffiliates |
| Organization501c3 | X | Organization501c3 |
| Web Site | WWW.PLACEONLINE.US | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 2006 | YearFormation |
| State Legal Domicile | MN | StateLegalDomicile |
| Activity Or Mission Description | TO BUILD A SUSTAINABLE, JUST, AND INSPIRING WORLD, ONE COMMUNITY AT A TIME. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 8 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 6 | NbrIndependentVotingMembers |
| Total Nbr Employees | 0 | TotalNbrEmployees |
| Total Nbr Volunteers | 6 | TotalNbrVolunteers |
| Total Gross UBI | 0 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | 0 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 367471 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 131351 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 51511 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 100660 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 3 | InvestmentIncomePriorYear |
| Investment Income Current Year | 268 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 0 | OtherRevenuePriorYear |
| Other Revenue Current Year | 0 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 418985 | TotalRevenuePriorYear |
| Total Revenue Current Year | 232279 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 0 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 0 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 0 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 146919 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 143481 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp Prior Year | 0 | TotalProfFundrsngExpPriorYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 994 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 309018 | OtherExpensePriorYear |
| Other Expenses Current Year | 110992 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 455937 | TotalExpensesPriorYear |
| Total Expenses Current Year | 254473 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | -36952 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | -22194 | RevenuesLessExpensesCY |
| Total Assets BOY | 1171281 | TotalAssetsBOY |
| Total Assets EOY | 2326464 | TotalAssetsEOY |
| Total Liabilities BOY | 602770 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 1700699 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 568511 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 625765 | NetAssetsOrFundBalancesEOY |
| Info In Schedule O Part III | X | InfoInScheduleOPartIII |
| Mission Description | PLACE IS A NATIONAL NONPROFIT ORGANIZATION THAT HELPS COMMUNITIES CREATE STATE-OF-THE-ART BUILDINGS AND MORE, ENTIRE NEIGHBORHOODS THAT BRING TOGETHER THE ARTS, ENVIRONMENTALISM AND SOCIAL JUSTICE. | MissionDescription |
| Significant New Program Services | 0 | SignificantNewProgramServices |
| Significant Change | 0 | SignificantChange |
| Expense | 157611 | Expense |
| Grants | 0 | Grants |
| Revenue | 100660 | Revenue |
| Description | PLACE WORKS WITH LOCAL GOVERNMENTS, FOUNDATIONS, AND COMMUNITY MEMBERS TO CREATE SUSTAINABLE, AFFORDABLE, MIXED-USE, MIXED-INCOME NEIGHBORHOODS FOR ARTISTS, UNDER-SERVED POPULATIONS FACING VARIOUS LIFE CHALLENGES, NONPROFIT ORGANIZATIONS, AND CREATIVE BUSINESSES. WITH PLACE'S GUIDANCE, THESE NEIGHBORHOODS WILL BE CREATED WITH VIGOROUS PUBLIC DIALOG, BUILT TO THE HIGHEST ENVIRONMENTAL STANDARDS, AND FILLED WITH PEOPLE FROM ALL BACKGROUNDS AND ECONOMIC CIRCUMSTANCES. THE PLACE TEAM ASSISTS ITS COMMUNITIES WITH EVERY ASPECT OF THE PROJECT FROM VISIONING TO PLANNING, FROM DESIGN TO FUNDING, FROM CONSTRUCTION TO SERVICE COORDINATION AND PROJECT MAINTENANCE. WITHIN ITS CHARITABLE MISSION PLACE FOCUSES ON SEVERAL AREAS: LINKING, ART, COMMUNITY, AND ENVIRONMENT. 1) LINKING PEOPLE, NEEDS AND OPPORTUNITIES, DELIVERING A SATISFYING COMMUNITY DEVELOPMENT PROCESS, NOT JUST A PRODUCT. 2) MAKING THE ARTS ACCESSIBLE TO PEOPLE OF ALL INCOMES. 3) BUILDING FLOURISHING COMMUNITIES BY MIXING ETHNICITY, INCOME, AND ACTIVITY. 4) INNOVATING SO THAT INSPIRING PLACES WILL BE GREEN AS WELL AS EXCITING, AFFORDABLE, AND DURABLE. IN DECEMBER 2009, PLACE'S WAV (WORKING ARTISTS VENTURA) PROJECT WAS COMPLETED AND OCCUPIED. THE WAV PROJECT INCLUDES 54 LIVE/WORK APARTMENTS SPECIALLY DESIGNED FOR LOW-INCOME ARTISTS AND 15 PERMANENT SUPPORTIVE HOUSING APARTMENTS FOR FORMERLY HOMELESS FAMILIES AND INDIVIDUALS. AS PART OF WAV, PLACE LAUNCHED ITS FIRST HAPPINESS STUDY TO TRACK THE WELL-BEING OF ITS RESIDENTS RELATIVE TO NONRESIDENTS FROM THE SURROUNDING AREA.THE DEVELOPMENT ALSO INCLUDES SMALL-BUSINESS RETAIL SPACE AND 13 SOLAR PENTHOUSES. IN ALL, WAV PROVIDES AFFORDABLE PERMANENT HOUSING TO MORE THAN 100 PEOPLE, AND WORKSPACE FOR AT LEAST 60 WORKING ARTISTS. PROJECT UNDERSTANDING, THE SUPPORTIVE SERVICES PROVIDER, HAS BEEN ON SITE PROVIDING SERVICES SINCE NOVEMBER 2009. TWO FAMILIES HAVE BEEN REUNIFIED AS A RESULT OF THE SUPPORTIVE HOUSING. AND AN UNEXPECTEDLY LARGE NUMBER OF HOMELESS CHILDREN ARE NOW IN HEALTHY, GREEN HOMES. THE WAV'S GREEN FEATURES INCLUDE THE USE OF PHOTOVOLTAIC ENERGY, RECYCLED BUILDING MATERIALS, ENERGY EFFICIENT APPLIANCES, CAR SHARING, AND OTHER SUSTAINABLE DESIGN PRACTICES RELATED TO WATER AND ENERGY CONSERVATION. THE ENTIRE WAV PROJECT WAS BUILT TO LEED STANDARDS, AND WILL LIKELY RECEIVE A GOLD CERTIFICATION. WAV HAS ALREADY ENHANCED VENTURA'S ARTS COMMUNITY BY PROVIDING FREE THEATER/GALLERY SPACE AND A VIBRANT COMMUNITY OF ARTISTS WHO PARTICIPATE IN AND HOST ART WALKS AND OTHER PUBLIC GATHERINGS CELEBRATING THE ARTS. A GRAND OPENING CELEBRATION WAS HELD AT WAV ON APRIL 17, 2010. WHILE NEGOTIATING WITH SEVERAL CITIES FOR NEW PROJECTS, PLACE CONTINUES RESEARCH AND DEVELOPMENT TO CREATE REPLICABLE MODELS TO IMPROVE COMMUNITIES IN KEEPING WITH PLACE'S MISSION. PLACE REFINED ITS E-GENERATION ZERO WASTE AND WASTE-TO-ENERGY MODEL FOR PATENT APPLICATION AND FOR USE IN ITS NEXT PROJECTS. IT CONTINUES WORK ON ITS ETHICAL DEVELOPMENT PRINCIPLES. IN ADDITION, PLACE INCORPORATED SOCIOMETRIC STUDIES TO MEASURE ITS IMPACT IN THE COMMUNITIES IN WHICH PLACE WORKS. | Description |
| Total Program Service Expense | 157611 | TotalProgramServiceExpense |
| Described In501 C3 | 1 | DescribedIn501C3 |
| Schedule B Required | 1 | ScheduleBRequired |
| Political Activities | 0 | PoliticalActivities |
| Lobbying Activities | 0 | LobbyingActivities |
| Donor Advised Funds | 0 | DonorAdvisedFunds |
| Conservation Easements | 0 | ConservationEasements |
| Collections Of Art | 0 | CollectionsOfArt |
| Credit Counseling | 0 | CreditCounseling |
| Term Or Permanent Endowments | 0 | TermOrPermanentEndowments |
| Report Land Bldg Equip | 1 | ReportLandBldgEquip |
| Report Invest Oth Securities | 0 | ReportInvestOthSecurities |
| Report Prog Rel Invest | 1 | ReportProgRelInvest |
| Report Other Assets | 0 | ReportOtherAssets |
| Report Other Liabilities | 0 | ReportOtherLiabilities |
| Report Fin48 Footnote | 0 | ReportFin48Footnote |
| Independent Audit Financial Stmt | 0 | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | 0 | ConsolidatedAuditFinancialStmt |
| School | 0 | School |
| Foreign Office | 0 | ForeignOffice |
| Foreign Activities | 0 | ForeignActivities |
| More Than5000 K To Organizations | 0 | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividuals |
| Professional Fundraising | 0 | ProfessionalFundraising |
| Fundraising Activities | 0 | FundraisingActivities |
| Gaming | 0 | Gaming |
| Hospital | 0 | Hospital |
| Grants To Organizations | 0 | GrantsToOrganizations |
| Grants To Individuals | 0 | GrantsToIndividuals |
| Schedule J Required | 0 | ScheduleJRequired |
| Tax Exempt Bonds | 0 | TaxExemptBonds |
| Excess Benefit Transaction | 0 | ExcessBenefitTransaction |
| Prior Excess Benefit Transaction | 0 | PriorExcessBenefitTransaction |
| Loan To Officer Or DQP | 1 | LoanToOfficerOrDQP |
| Grant To Related Person | 0 | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | 0 | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | 0 | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | 1 | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | 0 | DeductibleNonCashContributions |
| Deductible Contributions Of Art | 0 | DeductibleContributionsOfArt |
| Terminated | 0 | Terminated |
| Partial Liquidation | 0 | PartialLiquidation |
| Disregarded Entity | 1 | DisregardedEntity |
| Related Entity | 1 | RelatedEntity |
| Related Org Controlled Entity | 1 | RelatedOrgControlledEntity |
| Transaction Related Entity | 0 | TransactionRelatedEntity |
| Transfers To Exempt Non Chrtbl Org | 0 | TransfersToExemptNonChrtblOrg |
| Activities Conducted Partnership | 0 | ActivitiesConductedPartnership |
| Schedule O Required | 1 | ScheduleORequired |
| Number Forms Transmitted With1096 | 1 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | 1 | ComplianceWithBackupWitholding |
| Number Of Employees | 0 | NumberOfEmployees |
| Unrelated Business Income | 0 | UnrelatedBusinessIncome |
| Foreign Financial Account | 0 | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTrans |
| Taxable Party Notification | 0 | TaxablePartyNotification |
| Non Deductible Contributions | 0 | NonDeductibleContributions |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributions |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOf |
| Funds To Pay Premiums | 0 | FundsToPayPremiums |
| Premiums Paid | 0 | PremiumsPaid |
| Indoor Tanning Services | 0 | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 8 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 6 | NumberIndependentVotingMembers |
| Family Or Business Relationship | 1 | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | 0 | DelegationOfManagementDuties |
| Changes To Organizing Docs | 0 | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuse |
| Members Or Stockholders | 0 | MembersOrStockholders |
| Election Of Board Members | 0 | ElectionOfBoardMembers |
| Decisions Subject To Approval | 0 | DecisionsSubjectToApproval |
| Minutes Of Governing Body | 1 | MinutesOfGoverningBody |
| Minutes Of Committees | 1 | MinutesOfCommittees |
| Officer Mailing Address | 0 | OfficerMailingAddress |
| Local Chapters | 0 | LocalChapters |
| Form990 Provided To Governing Body | 1 | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | 1 | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | 1 | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | 1 | RegularMonitoringEnforcement |
| Whistleblower Policy | 1 | WhistleblowerPolicy |
| Document Retention Policy | 0 | DocumentRetentionPolicy |
| Compensation Process CEO | 1 | CompensationProcessCEO |
| Compensation Process Other | 0 | CompensationProcessOther |
| Investment In Joint Venture | 1 | InvestmentInJointVenture |
| Written Policy Or Procedure | 1 | WrittenPolicyOrProcedure |
| States Where Copy Of Return Is Filed | MN | StatesWhereCopyOfReturnIsFiled |
| States Where Copy Of Return Is Filed | CA | StatesWhereCopyOfReturnIsFiled |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
Name Business NameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | THE ORGANIZATION | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Telephone Number | 6123093889 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 100 PORTLAND AVENUE SOUTH SUITE 100 | AddressLine1 |
| City | MINNEAPOLIS | City |
| State | MN | State |
| ZIP Code | 55401 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| No Listed Persons Compensated | X | NoListedPersonsCompensated |
Form990 Part VII Section A Form990PartVIISectionA (8 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | OfficerOfficer | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation |
|---|---|---|---|---|---|---|
| CHRIS VELASCO PRESIDENTSECRETARY | ||||||
| EXECUTIVE DIRECTOR | 60.00 | X | X | 0 | 0 | 0 |
| GARTH ROCKCASTLE | ||||||
| VICE PRESIDENT | 8.00 | X | X | 0 | 0 | 0 |
| JONATHAN PEARLSTEIN | ||||||
| TREASURER | 8.00 | X | X | 0 | 0 | 0 |
| ELIZABETH BOWLING | ||||||
| DIRECTOR | 20.00 | X | 0 | 0 | 0 | |
| KRISTIN HANSON | ||||||
| DIRECTOR | 5.00 | X | 0 | 0 | 0 | |
| LOREN HENNING | ||||||
| DIRECTOR | 5.00 | X | 0 | 0 | 0 | |
| CHARLES L RAISON MD | ||||||
| DIRECTOR | 5.00 | X | 0 | 0 | 0 | |
| ROMULO E SAMANIEGO | ||||||
| DIRECTOR | 5.00 | X | 0 | 0 | 0 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 0 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 0 | TotalOtherCompensation |
| Number Individuals GT100 K | 0 | NumberIndividualsGT100K |
| Formers Listed | 0 | FormersListed |
| Total Comp GT150 K | 0 | TotalCompGT150K |
| Compensation From Other Sources | 0 | CompensationFromOtherSources |
| Number Of Contractors GT100 K | 0 | NumberOfContractorsGT100K |
| Government Grants | 100000 | GovernmentGrants |
| All Other Contributions | 31351 | AllOtherContributions |
| Total Contributions | 131351 | TotalContributions |
Program Service Revenue ProgramServiceRevenue (2 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome |
|---|---|---|---|
| PROGRAM LOAN INTEREST | 531390 | 91726 | 91726 |
| OTHER PROJECT FEES | 531390 | 8934 | 8934 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 100660 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 268 | TotalRevenueColumn |
| Exclusion | $268 | ExclusionAmount |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 232279 | TotalRevenueColumn |
| Related Or Exempt Function Income | 100660 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 0 | UnrelatedBusinessRevenue |
| Exclusion | $268 | ExclusionAmount |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 135310 | Total |
| Program Services | 104978 | ProgramServices |
| Management And General | 30332 | ManagementAndGeneral |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 8171 | Total |
| Program Services | 6537 | ProgramServices |
| Management And General | 1634 | ManagementAndGeneral |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 15575 | Total |
| Program Services | 15385 | ProgramServices |
| Management And General | 190 | ManagementAndGeneral |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 13870 | Total |
| Management And General | 13870 | ManagementAndGeneral |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 9691 | Total |
| Program Services | 7761 | ProgramServices |
| Management And General | 1930 | ManagementAndGeneral |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 3102 | Total |
| Program Services | 30 | ProgramServices |
| Management And General | 3072 | ManagementAndGeneral |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 26197 | Total |
| Program Services | 3571 | ProgramServices |
| Management And General | 22626 | ManagementAndGeneral |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 7441 | Total |
| Management And General | 7441 | ManagementAndGeneral |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 17593 | Total |
| Program Services | 17519 | ProgramServices |
| Management And General | 74 | ManagementAndGeneral |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 5117 | Total |
| Management And General | 5117 | ManagementAndGeneral |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 9582 | Total |
| Management And General | 9582 | ManagementAndGeneral |
Other Expenses OtherExpenses (2 entries)
| DescriptionDescription | TotalTotal | Program ServicesProgramServices | FundraisingFundraising |
|---|---|---|---|
| CALIFORNIA TAXES | 1830 | 1830 | |
| FUNDRAISING | 994 | 994 |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 254473 | Total |
| Program Services | 157611 | ProgramServices |
| Management And General | 95868 | ManagementAndGeneral |
| Fundraising | 994 | Fundraising |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1236 | BOY |
| EOY | 1417 | EOY |
Pledges And Grants Receivable PledgesAndGrantsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1000 | BOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1372 | BOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 23325 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 18013 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 10075 | BOY |
| EOY | 5312 | EOY |
Investments Program Related InvestmentsProgramRelated
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1147598 | BOY |
| EOY | 2319735 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 10000 | BOY |
| EOY | 0 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1171281 | BOY |
| EOY | 2326464 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 441728 | BOY |
| EOY | 619670 | EOY |
Loans From Officers Directors LoansFromOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 161042 | BOY |
| EOY | 181029 | EOY |
Mort Notes Pybl Secured Invest Prop MortNotesPyblSecuredInvestProp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | 900000 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 602770 | BOY |
| EOY | 1700699 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Follow SFAS117 | X | FollowSFAS117 |
Unrestricted Net Assets UnrestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 446541 | BOY |
| EOY | 535765 | EOY |
Temporarily Restricted Net Assets TemporarilyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 121970 | BOY |
| EOY | 90000 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 568511 | BOY |
| EOY | 625765 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1171281 | BOY |
| EOY | 2326464 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | -22194 | ReconcilationRevenueExpenses |
| Reconcilation Other Changes | 79448 | ReconcilationOtherChanges |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | 0 | AccountantCompileOrReview |
| FS Audited | 0 | FSAudited |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequired |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Publicly Supported Org170b1 Avi | X | PubliclySupportedOrg170b1Avi |
Gifts Grants Contrib Received170 GiftsGrantsContribReceived170
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 73077 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 530181 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 552407 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 367471 | CurrentTaxYearMinus1Year |
| Current Tax Year | 131351 | CurrentTaxYear |
| Total | 1654487 | Total |
Total170 Total170
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 73077 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 530181 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 552407 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 367471 | CurrentTaxYearMinus1Year |
| Current Tax Year | 131351 | CurrentTaxYear |
| Total | 1654487 | Total |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Amounts Subst Contributors Total | 56799 | AmountsSubstContributorsTotal |
| Public Support Total170 | 1597688 | PublicSupportTotal170 |
Gross Investment Income170 GrossInvestmentIncome170
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 1122 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 2242 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 140 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 3 | CurrentTaxYearMinus1Year |
| Current Tax Year | 268 | CurrentTaxYear |
| Total | 3775 | Total |
Other Income170 OtherIncome170
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus3 Years | 1808 | CurrentTaxYearMinus3Years |
| Total | 1808 | Total |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Support | 1660070 | TotalSupport |
| Gross Receipts From Admissions Etc | 503539 | GrossReceiptsFromAdmissionsEtc |
| Public Support Pertcentage170 | 0.96240 | PublicSupportPertcentage170 |
| Thirty Three Percnt Tests CY170 | X | ThirtyThreePercntTestsCY170 |
| General Explanation | SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS REVENUE | GeneralExplanation |
Schedule B IRS990ScheduleB
Contributor Info ContributorInfo
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor Number | RESTRICTED | ContributorNumber |
Contributor Name Business ContributorNameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor Address US ContributorAddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Aggregate Contributions | RESTRICTED | AggregateContributions |
Schedule D IRS990ScheduleD
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 23325 | OtherCostOrOtherBasis |
| Depreciation | 18013 | Depreciation |
| Book Value | 5312 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 5312 | TotalOfBookValueLandBuildings |
Investments Program Related InvestmentsProgramRelated
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | N/R & ACC. INT. - WAV APT | Description |
| Book Value | 2319735 | BookValue |
| Method Of Valuation | C | MethodOfValuation |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Program Related | 2319735 | TotalOfBookValueProgramRelated |
| Total Revenue | 232279 | TotalRevenue |
| Total Expenses | 254473 | TotalExpenses |
| Excess Or Deficit For Year | -22194 | ExcessOrDeficitForYear |
| Other | $79,448 | OtherAmount |
| Total Adjustments | 79448 | TotalAdjustments |
| Excess Or Deficit Per FS | 57254 | ExcessOrDeficitPerFS |
Form990 Schedule D Part XIV Form990ScheduleDPartXIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | PART XI, LINE 8 - OTHER ADJUSTMENTS: | Identifier |
| Explanation | RESTATEMENT OF PRIOR YEARS' NET ASSETS DUE TO CORRECTION OF WAV PROJECT SPONSOR LOAN RELATING TO MULTIPLE YEARS 79,448. | Explanation |
Schedule L IRS990ScheduleL
Loan Table LoanTable (2 entries)
| Purpose Of LoanPurposeOfLoan | Loan To OrganizationLoanToOrganization | Original PrincipalOriginalPrincipalAmount | Balance DueBalanceDue | DefaultDefault | Approved By BoardApprovedByBoard | Written AgreementWrittenAgreement |
|---|---|---|---|---|---|---|
| ELIZABETH BOWLING | ||||||
| OPERATING EXPENSES | X | $66,119 | 113778 | 0 | 0 | 0 |
| CHRIS VELASCO | ||||||
| OPERATING EXPENSES | X | $55,641 | 67251 | 0 | 0 | 0 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Balance Due | 181029 | TotalBalanceDue |
Form990 Schedule L Part IV Form990ScheduleLPartIV
Name Of Interested Person NameOfInterestedPerson
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Person | ELIZABETH BOWLING | NamePerson |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Relationship | BOARD OF DIRECTORS | Relationship |
| Amount Of Transaction | 7276 | AmountOfTransaction |
| Description Of Transaction | LEGAL/CONSULTING | DescriptionOfTransaction |
| Sharing Of Revenues | 0 | SharingOfRevenues |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (7 entries)
| IdentifierIdentifier | ExplanationExplanation | Return ReferenceReturnReference |
|---|---|---|
| FORM 990, PART VI, SECTION A, LINE 2 | CHRIS VELASCO (PRESIDENT) AND ELIZABETH BOWLING (FOUNDING BOARD MEMBER) HAVE A FAMILY RELATIONSHIP. | |
| FORM 990, PART VI, SECTION B, LINE 11 | FORM 990 WILL BE REVIEWED IN DETAIL BY THE PRESIDENT AND TREASURER, AND WILL BE CIRCULATED TO THE ENTIRE BOARD OF DIRECTORS PRIOR TO FILING. | |
| FORMS ARE DISTRIBUTED AT THE ANNUAL MEETINGS AND ARE COLLECTED AT THAT TIME; IF FORMS HAVE NOT BEEN COMPLETED, THE PRESIDENT CIRCULATES REMINDERS AND COLLECTS THE OUTSTANDING FORMS | FORM 990, PART VI, SECTION B, LINE 12C | |
| THE PROCESS FOR EXECUTIVE COMPENSATION REVIEW HAS NOT OCCURRED IN THREE YEARS DUE TO THE FINANCIAL POSITION OF THE ORGANIZATION. IN THE PAST, THE PRESIDENT/EXECUTIVE DIRECTOR MAKES A REQUEST AND PRESENTS DATA, HE AND ELIZABETH BOWLING RECUSE THEMSELVES FROM BOARD DISCUSSIONS, THE BOARD REVIEWS THE DATA AND CONDUCTS A PERFORMANCE REVIEW DISCUSSION AND INDEPENDENT INVESTIGATION OF COMPENSATION, MINUTES ARE PRESERVED AND THE BOARD THEN VOTES. | FORM 990, PART VI, SECTION B, LINE 15A | |
| THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON WRITTEN REQUEST. | FORM 990, PART VI, SECTION C, LINE 19 | |
| CHANGES IN NET ASSETS OR FUND BALANCES: | RESTATEMENT OF PRIOR YEARS' NET ASSETS DUE TO CORRECTION OF WAV PROJECT SPONSOR LOAN RELATING TO MULTIPLE YEARS 79,448. TOTAL TO FORM 990, PART XI, LINE 5: 79,448. | FORM 990, PART XI, LINE 5: |
| COMPENSATION TO CURRENT OFFICERS INCLUDES ACCRUED WAGES OF $135,310 FOR CHRIS VELASCO, CHIEF EXECUTIVE OFFICER. TOTAL ACCRUED COMPENSATION INCLUDED IN ACCOUNTS PAYABLE AT THE END OF 2010 IS $327,887. | FORM 990, PART IX, LINE 5: |
Schedule R IRS990ScheduleR
Form990 Schedule R Part I Form990ScheduleRPartI (2 entries)
| Address Line1AddressUS/AddressLine1 | CityAddressUS/City | StateAddressUS/State | ZIP CodeAddressUS/ZIPCode | EINEIN | Primary ActivitiesPrimaryActivities | Legal Domicile StateLegalDomicileState | Total IncomeTotalIncome | EOY AssetsEOYAssets | Business Name Line1DirectControllingEntityName/BusinessNameLine1 |
|---|---|---|---|---|---|---|---|---|---|
| WAV PARTNERS LLC | |||||||||
| 100 PORTLAND AVENUE S SUITE 100 | MINNEAPOLIS | MN | 55401 | 204361698 | MANAGEMENT, HOUSING | CA | 12755 | 0 | PLACE |
| CREST OF THE WAV PARTNERS LLC | |||||||||
| 100 PORTLAND AVENUE S SUITE 100 | MINNEAPOLIS | MN | 55401 | 204361698 | MANAGEMENT, HOUSING | CA | -4068 | 0 | PLACE |
Form990 Schedule R Part III Form990ScheduleRPartIII (2 entries)
| Address Line1AddressUS/AddressLine1 | CityAddressUS/City | StateAddressUS/State | ZIP CodeAddressUS/ZIPCode | EINEIN | Primary ActivityPrimaryActivity | Legal Domicile StateLegalDomicileState | Business Name Line1DirectControllingEntityName/BusinessNameLine1 | Predominant Income TypePredominantIncomeType | Share Of Total IncomeShareOfTotalIncome | Share Of EOY AssetsShareOfEOYAssets | Disproportionate AllocationsDisproportionateAllocations | General Or Managing PartnerGeneralOrManagingPartner | Percentage OwnershipPercentageOwnership |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| WAV APARTMENTS PARTNERS LP | |||||||||||||
| 100 PORTLAND AVE S SUITE 100 | MINNEAPOLIS | MN | 55401 | 261911591 | HOUSING-APTS | CA | WAV PARTNERS LLC | RELATED | 12755 | 3200078 | 0 | 1 | 0.00500 |
| WAV CONDOMINIUMS LLC | |||||||||||||
| 100 PORTLAND AVE S SUITE 100 | MINNEAPOLIS | MN | 55401 | HOUSING-CONDOMINIUM SALES | CA | CREST OF THE WAV PARTNERS LLC | RELATED | -4068 | 4366642 | 0 | 1 | 0.50000 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Ann Rents Royalties | 0 | ReceiptOfIntAnnRentsRoyalties |
| Gift Grant Or Cap Contr To Other Org | 0 | GiftGrantOrCapContrToOtherOrg |
| Gift Grant Or Cap Contr Fr Other Org | 0 | GiftGrantOrCapContrFrOtherOrg |
| Loans Or Guarantees To Other Org | 1 | LoansOrGuaranteesToOtherOrg |
| Loans Or Guarantees From Other Org | 0 | LoansOrGuaranteesFromOtherOrg |
| Sale Of Assets To Other Org | 0 | SaleOfAssetsToOtherOrg |
| Purchase Of Assets From Other Org | 0 | PurchaseOfAssetsFromOtherOrg |
| Exchange Of Assets | 0 | ExchangeOfAssets |
| Rental Of Facilities To Other Orgs | 0 | RentalOfFacilitiesToOtherOrgs |
| Rental Of Facilities Fr Other Orgs | 0 | RentalOfFacilitiesFrOtherOrgs |
| Perform Of Services For Other Orgs | 0 | PerformOfServicesForOtherOrgs |
| Perform Of Services By Other Orgs | 0 | PerformOfServicesByOtherOrgs |
| Sharing Of Facilities | 0 | SharingOfFacilities |
| Sharing Of Paid Employees | 0 | SharingOfPaidEmployees |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrg |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrg |
| Other Transfer To Other Org | 0 | OtherTransferToOtherOrg |
| Other Transfer From Other Org | 0 | OtherTransferFromOtherOrg |
Transactions Related Orgs Table TransactionsRelatedOrgsTable
Name Of Other Organization NameOfOtherOrganization
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | WAV APARTMENT PARTNERS LP | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Transaction Type | D | TransactionType |
| Amount Involved | 1172137 | AmountInvolved |
| Method Of Amt Determination | COST | MethodOfAmtDetermination |
Comments