2011-11-15T10:52:11-06:00 2010-12-31 OLSEN THIELEN & CO LTD 2675 LONG LAKE ROAD ST PAUL MN 55113 990 2010-01-01 204361698 PLACE (PROJECTS LINKING ART COMMUNITY & ENVIRONMENT) PLAC 6123093889 100 PORTLAND AVENUE SOUTH NO 100 MINNEAPOLIS MN 55401 CHRIS VELASCO 6123093889 2011-11-11 1 LINDA M NELSON 6514834521 2010 2016-02-24 21:20:13Z CHRIS VELASCO 100 PORTLAND AVENUE SOUTH NO 100 MINNEAPOLIS MN 55401 232279 0 X WWW.PLACEONLINE.US X 2006 MN TO BUILD A SUSTAINABLE, JUST, AND INSPIRING WORLD, ONE COMMUNITY AT A TIME. 8 6 0 6 0 0 367471 131351 51511 100660 3 268 0 0 418985 232279 0 0 0 0 146919 143481 0 0 994 309018 110992 455937 254473 -36952 -22194 1171281 2326464 602770 1700699 568511 625765 X 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. 0 0 157611 0 100660 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. 157611 1 1 0 0 0 0 0 0 0 1 0 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 1 0 0 0 0 1 1 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 X 8 6 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 1 0 1 1 MN CA X THE ORGANIZATION 6123093889 100 PORTLAND AVENUE SOUTH SUITE 100 MINNEAPOLIS MN 55401 X CHRIS VELASCO PRESIDENTSECRETARY 60.00 X X 0 0 0 GARTH ROCKCASTLE 8.00 X X 0 0 0 JONATHAN PEARLSTEIN 8.00 X X 0 0 0 ELIZABETH BOWLING 20.00 X 0 0 0 KRISTIN HANSON 5.00 X 0 0 0 LOREN HENNING 5.00 X 0 0 0 CHARLES L RAISON MD 5.00 X 0 0 0 ROMULO E SAMANIEGO 5.00 X 0 0 0 0 0 0 0 0 0 0 0 100000 31351 131351 PROGRAM LOAN INTEREST 531390 91726 91726 OTHER PROJECT FEES 531390 8934 8934 100660 268 268 232279 100660 0 268 135310 104978 30332 8171 6537 1634 15575 15385 190 13870 13870 9691 7761 1930 3102 30 3072 26197 3571 22626 7441 7441 17593 17519 74 5117 5117 9582 9582 CALIFORNIA TAXES 1830 1830 FUNDRAISING 994 994 254473 157611 95868 994 1236 1417 1000 1372 23325 18013 10075 5312 1147598 2319735 10000 0 1171281 2326464 441728 619670 161042 181029 900000 602770 1700699 X 446541 535765 121970 90000 568511 625765 1171281 2326464 X -22194 79448 X 0 0 0 X 73077 530181 552407 367471 131351 1654487 73077 530181 552407 367471 131351 1654487 56799 1597688 1122 2242 140 3 268 3775 1808 1808 1660070 503539 0.96240 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS REVENUE RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 23325 18013 5312 5312 N/R & ACC. INT. - WAV APT 2319735 C 2319735 232279 254473 -22194 79448 79448 57254 PART XI, LINE 8 - OTHER ADJUSTMENTS: RESTATEMENT OF PRIOR YEARS' NET ASSETS DUE TO CORRECTION OF WAV PROJECT SPONSOR LOAN RELATING TO MULTIPLE YEARS 79,448. ELIZABETH BOWLING OPERATING EXPENSES X 66119 113778 0 0 0 CHRIS VELASCO OPERATING EXPENSES X 55641 67251 0 0 0 181029 ELIZABETH BOWLING BOARD OF DIRECTORS 7276 LEGAL/CONSULTING 0 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. FORM 990, PART VI, SECTION B, LINE 12C 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 15A 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 C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON WRITTEN REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: 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 IX, 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. 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 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 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 WAV APARTMENT PARTNERS LP D 1172137 COST