Conorth

What it reported doing in 2025

Conorth is a non-profit 501c3 organization working to transform lives and communities through cooperative enterprise for residents of manufactured housing communities. This work supports low-income and underserved communities through the development of affordable housing cooperatives by providing education, technical assistance, programs, and services to residents of the communities served. The organization currently supports 17 manufactured home cooperatives, and continues to develop new cooperatives each year. Conorth is one of nine certified technical assistance providers (ctaps) under the national roc USA network providing tailored technical assistance, training and education, and peer-to-peer engagement opportunities for the affiliated cooperatives across Minnesota and Wisconsin. This work is a community-rooted and systemically transformative approach to preserving affordable housing that gives homeowners the power and stability that comes with cooperative ownership and control of the land under their homes. Conorth also advocates for legislation and legislative funding that advances co-op ownership and supports manufactured homebuyers and cooperatives, and works directly with our manufactured housing cooperative communities to secure state grants for critical improvement projects in their communities. To further our mission and expand access to cooperative financing, we also established a lending subsidiary, conorth loan fund llc (clf), in 2023. This subsidiary offers loans and other financing for cooperatives with a focus on serving low-income, low-wealth, and historically marginalized communities. In 2025, conorth formed two additional subsidiary organizations to further our mission and ability to expand and preserve affordable housing through manufactured home cooperative ownership. Conorth homes llc was established as a manufactured home dealership that allows us to buy and sell manufactured homes directly from manufacturer to consumers to address critical vacancy issues that have become a major issue for many of our cooperative communities. Conorth holding llc was formed as a holding company to allow the organization to hold title to a manufactured home community or new ground-up development when development, rehabilitation, or stabilization are needed before the community would be in a position to form a cooperative and purchase the park. Conorth is also home to the cominnesota program, a cross-sector program serving cooperatives of all types across Minnesota, providing resources, training and education, and networking opportunities for cooperative members across all cooperative sectors. This program works to advance the cooperative movement and expand awareness of the cooperative business model, make connections to resources, and foster collaboration for positive change.

Financial Efficiency

• Mission deployment rate: 26.3%; rating input score 26
• Program expense ratio: 87.3%; rating input score 87
• Fundraising efficiency: $106.37 raised per $1 spent on fundraising; rating input score 88; 88th percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
• Pay-setting controls: 2 of 6 controls in place; rating input score 33
  • Compensation committee: Missing
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • Written employment contract: Missing
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: Limited
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 92.3%; rating input score 92; 23rd percentile among comparable filings
• Governance controls: 8 of 9 controls in place; rating input score 89
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Fail
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 70.4%; rating input score 96; 96th percentile among comparable filings
• Total-asset coverage ratio: 6.05; rating input score 83; 83rd percentile among comparable filings
• Liabilities to assets ratio: 0.41; rating input score 20; 20th percentile among comparable filings
• Officer compensation ratio: 21.4%; rating input score 14; 14th percentile among comparable filings

Growth

• Program expense growth: 9.3% per year; rating input score 100; 58th percentile among comparable filings
• Revenue growth: 18.4% per year; rating input score 100; 85th percentile among comparable filings
• Asset growth: 17.8% per year; rating input score 100; 80th percentile among comparable filings