Nonprofits›Land Bank Twin Cities Inc

Housing & Shelter

Land Bank Twin Cities Inc

SAINT PAUL, MN

Website

Total revenue

$5.5M

Total expenses

$6.6M

Net assets

$7.1M

Grants received

$6.4M

26 grants

EIN

611756962

Tax year

2024

Mission

Land bank twin cities, inc. Captures strategic real estate opportunities to benefit people with low to moderate incomes, prioritizing people of color and populations facing barriers.

Programs

3 programs

Community lending -lbtc provides loans to approved non-profit and socially responsible for-profit developers, non-profit service providers, community businesses, and government for the purchase, rehabilitation, and new construction of properties, in alignment with its mission.

Expenses: $89K

Brokerage/property management - lbtc brokers the sale and purchase of properties and manages properties during holding periods to support its mission.

Expenses: $2.8M

General program - activities that generally relate to the overall mission of land bank twin cities, inc. But do not fall under a specific defined program.

Expenses: $1.8M

Financials

FY 2024

Revenue

Contributions & grants$1.4M
Program service revenue$3.4M
Investment income$44K
Other revenue$611K
Total revenue$5.5M

Expenses

Grants paid—
Salaries & benefits$1.0M
Fundraising$69K
Other expenses$5.6M
Total expenses$6.6M
Total assets$32.1M
Net assets$7.1M

People

19 listed

NameRoleCompensation

EDWARD LANDENBERGER

VS PRESIDENT & SR PROGRAM

Board

$169K

40 hrs/wk

SHANA WENGER

CHIEF OPERATING OFFICER (THRU 7/2024)

Board

$123K

40 hrs/wk

AARICA COLEMAN

PRESIDENT & CEO

Board

$93K

40 hrs/wk

ELFRIC PORTE II

DIRECTOR

Board

—

1 hrs/wk

JASON CHAVEZ

DIRECTOR

Board

—

1 hrs/wk

JAY JENSEN

DIRECTOR (THRU 11/2024)

Board

—

1 hrs/wk

KARLA HENDERSON

VICE CHAIR

Board

—

1 hrs/wk

KEVIN ANDERSON

DIRECTOR

Board

—

1 hrs/wk

AMY MCCULLOCH

DIRECTOR

Board

—

1 hrs/wk

LIBBY STARLING

CHAIR

Board

—

1 hrs/wk

NICOLLE GOODMAN

DIRECTOR

Board

—

1 hrs/wk

CHENIQUA JOHNSON

DIRECTOR

Board

—

1 hrs/wk

MAI CHONG XIONG

DIRECTOR

Board

—

1 hrs/wk

MOLLIE MOSMAN

CHIEF FINANCIAL OFFICER

Board

—

1 hrs/wk

KIZZY DOWNIE

SECRETARY

Board

—

1 hrs/wk

BARBARA MCCORMICK

DIRECTOR

Board

—

1 hrs/wk

CHARLES HANLEY

TREASURER

Board

—

1 hrs/wk

DAVID MCGEE

DIRECTOR

Board

—

1 hrs/wk

SCOTT ANDERSON

PROGRAM MANAGER

Staff

$115K

40 hrs/wk

Independent contractors

ROSKOP CONSTRUCTION

CONSTRUCTION/REHABILITATION

$270K

MN APARTMENTS LLC

PROPERTY MANGEMENT

$217K

DIVERGE FINANCE COOPERATIVE

ACCOUNTING

$192K

ALLIANCE MECHANICAL SERVICES

MAINTENANCE & REPAIR

$146K

Grants received

Showing 26 of 26

FromAmountPurposeYear
OTTO BREMER TRUST
$75K
GENERAL OPERATIONS
2024
MORTENSON FAMILY FOUNDATION
$15K
UNRESTRICTED
2024
LOCAL INITIATIVES SUPPORT CORPORATION
$240K
SEE PART IV
2023
TARGET FOUNDATION
$150K
ECONOMIC OPPORTUNITY - HOMETOWN
2023
MORTENSON FAMILY FOUNDATION
$23K
UNRESTRICTED
2023
TANKENOFF FAMILIES FOUNDATION
$14K
CHARITABLE
2023
THE BUSH FOUNDATION
$2.1M
THE LAND BANK TWIN CITIES WILL SPREAD THE PRACTICE OF COMMUNITY ORGANIZATIONS TAKING SITE CONTROL OF REAL ESTATE FOR COMMUNITY-DRIVEN AFFORDABLE HOUSING AND SMALL BUSINESS DEVELOPMENT. ACQUIRED PROPERTIES WERE AT RISK OF SPECULATIVE INVESTMENT AND ARE HELD UNTIL A COMMUNITY ORGANIZATION CAN ENGAGE IN COMMUNITY-DRIVEN VISIONING AND PLANNING WHILE INCREASING ITS CAPACITY FOR OWNERSHIP. SITE CONTROL IS A PROVEN PRACTICE FOR CREATING WEALTH WHEN PROPERTIES ARE TRANSFERRED TO LOCAL OWNERSHIP AND PROVIDING A PIPELINE OF CREDITWORTHY OWNERS IN BIPOC COMMUNITIES.
2022
The McKnight Foundation
$1M
To support the acquisition, hold, sale of, and lending related to, a private equity housing portfolio project of 143 units
2022
The McKnight Foundation
$375K
For general operating support, and to build capacity to facilitate more mission-based community development in the Twin Cities 7-County region
2022
OTTO BREMER TRUST
$100K
BUILDING LAND BANK CAPACITY
2022
FR BIGELOW FOUNDATION
$50K
LAND BANK TWIN CITIES PROSPERITY POSSIBLE CAMPAIGN
2022
TANKENOFF FAMILIES FOUNDATION
$25K
CHARITABLE
2022
MORTENSON FAMILY FOUNDATION
$23K
UNRESTRICTED
2022
FIDELITY INVESTMENTS CHARITABLE GIFT FUND
$15K
For grant recipient's exempt purposes
2022
The McKnight Foundation
$375K
for general operating support, and to build capacity to facilitate more mission-based community development in the Twin Cities 7-County region
2021
The McKnight Foundation
$375K
for general operating support, and to build capacity to facilitate more mission-based community development in the Twin Cities 7-County region
2021
SAINT PAUL & MINNESOTA FOUNDATION
$95K
MULTIPLE GRANTS FOR MULTIPLE PURPOSES
2021
TANKENOFF FAMILIES FOUNDATION
$25K
CHARITABLE
2021
SAINT PAUL & MINNESOTA FOUNDATION
$250K
MULTIPLE PURPOSES
2020
The McKnight Foundation
$200K
For general operating support, and to support the Prosperity Possible Campaign
2020
HARDENBERGH FOUNDATION
$200K
GENERAL OPERATING
2020
The McKnight Foundation
$200K
For general operating support, and to support the Prosperity Possible Campaign
2020
The McKnight Foundation
$150K
For general operating support, and to support the Prosperity Possible Campaign
2020
The McKnight Foundation
$150K
For general operating support, and to support the Prosperity Possible Campaign
2020
FR BIGELOW FOUNDATION
$100K
LAND BANK TWIN CITIES PROSPERITY POS
2020
TARGET FOUNDATION
$60K
COMMITTED IN 2019 - HOMETOWN - RACIAL EQUITY; 2-YEAR GRANT
2020

Funded by

$6.4M from 11 funders · 26 grants · 2020–2024

The McKnight Foundation

$2.8M · 8 grants · 2020–2022

The Bush Foundation

$2.1M · 1 grant · 2022

Saint Paul & Minnesota Foundation

$345K · 2 grants · 2020–2021

Target Foundation

$210K · 2 grants · 2020–2023

Hardenbergh Foundation

$200K · 1 grant · 2020

Otto Bremer Trust

$175K · 2 grants · 2022–2024

Fr Bigelow Foundation

$150K · 2 grants · 2020–2022

Details

EIN611756962
NTEE codeL80
Subsection03
Ruling date2015-05
Formed2015
Employees10
Volunteers28
LAND BANK TWIN CITIES INC — Mission, Financials & Grants Received | Grantivo