Building Blocks Inc

What it reported doing in 2024

Housing-the commons at penn apartment building began lease up at the beginning of 2016, and all 47 units were leased by the end of april, 2016. These apartments provide stable housing to residents whose incomes are below 50% of the area median income. The building continued to be fully leased through the remainder of 2016 and continued to be fully leased through 2018. Plans have begun for a second phase of affordable apartments in north minneapolis. The ground breaking for phase ii "penn ave union" happened in june 2019. This will be 64 units of affordable housing. Penn ave union is scheduled to be completed in oct-nov 0f 2020. Commons at penn continues to be fully leased. Healthy living-wirth co-op signed a lease in august of 2016 to occupy the commercial space in commons at penn. This organization will provide groceries to an area of north minneapolis that is a federally declared food desert. Core groceries will be set at an affordable price, and culturally sensitive food items will be present in the store. Building blocks received rent from the wirth coop through july, 2019 at which time the coop closed temporarily. It was announced in jan of 2019 that the coop will not be reopening. The space will now be used by hennepin county for a food shelf. New lease signed with hennepin county for this space beginning jan 8, 2019. The food shelf has been widely successful and continues to be a welcome additional service to the residents and commons at penn and the surrounding community. Hennepin county has recently signed an extension to the lease of the space until feb 2023. Youth mentorship-building blocks provided after school programming for commons at penn residents beginning in march of 2016, in partnership with opportunity neighborhood development corporation, a nonprofit organization that specializes in providing after school programming in low income housing. Programming was provided 4 days per week and includes a healthy snack, homework assistance, and a rotating schedule of mentorship opportunities. In jan 2018 building blocks transitioned to a new after school program through vizion the future through oct 2018. The program is currently on pause and will begin again in the fall of 2020.. There are currently limitations on the program due to the size of the current space. As the new phase is open the programming will be transferred to that facility and the size of the space will increase from 400-500 sq ft to 4000-5000 sq ft. The current space size was a concession made in order to allow extra space for the coop footprint. Executive director of building blocks, devean george continues to do mobile mentorship of local youth at after school programs and camps. He is organizing events for youth for fall to include trips to museums, timberwolves games and cooking classes. Discussions are in process for a joint venture with "mind the gap".

Financial Efficiency

• Mission deployment rate: 100%; rating input score 100
• Program expense ratio: 43.4%; rating input score 43
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
• Pay-setting controls: Limited
• Foreign activity oversight: Limited
• Grant itemization coverage: Limited
• Major donor itemization: Limited
• Related-party transparency: Limited

Accountability

• Independent voting board: 80%; rating input score 80; 25th percentile among comparable filings
• Governance controls: 3 of 7 controls in place; rating input score 43
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Fail
  • Document-retention policy: Fail
  • CEO compensation review process: NotApplicable
  • Other executive compensation review process: NotApplicable
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Missing
  • Independent financial-statement audit: Fail

Sustainability

• Operating margin: -181%; rating input score 14; 14th percentile among comparable filings
• Total-asset coverage ratio: 599.36; rating input score 99; 99th percentile among comparable filings
• Liabilities to assets ratio: 0.13; rating input score 17; 17th percentile among comparable filings
• Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

• Program expense growth: -26.5% per year; rating input score 0; 13th percentile among comparable filings
• Revenue growth: 12.1% per year; rating input score 100; 89th percentile among comparable filings
• Asset growth: 10.3% per year; rating input score 100; 80th percentile among comparable filings