Lowertown Redevelopment Corporation
Nonprofit profile at a glance
- EIN
- 411324588
- IRS 990-EZ coverage
- 2011–2013
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990-EZ 2013
- Location
- Minneapolis, MN, USA
- Phone
- 7633749120
- Rating confidence
- Limited
- Sector
- Support N.E.C.
Reported finances
- Revenue
- $0
- Expenses
- $8,499
- Assets
- $0
- Liabilities
- $0
Source: IRS Form 990-EZ. Selected filing: tax year 2013. Amounts in USD.
Leadership & pay
2 people listed
Executive titles in this filing
- WEIMING LU (EXEC DIR/PRESIDENT)
People named in this filing
- WEIMING LU (EXEC DIR/PRESIDENT)
- RICHARD SLADE (CHAIRMAN)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990-EZ. Selected filing: tax year 2013. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To be the catalyst for Lowertown's success by addressing design issues, marketing the area, and providing gap financing to create a dynamic mix of housing, offices, retail, and public spaces in the historic district.
What it reported doing in 2013
Lowertown redevelopment corporation (organization) was incorporated on april 24, 1978. It was designed to aid, assist, and advise the city of st. Paul in the planning for and the development and improvement of the lowertown area of the city of st. Paul. It is to aid, support, and assist by loans, guarantees, investments, and other lawful forms of assistance to other persons or organizations seeking to redevelop and improve the lowertown area. Since 1978, lowertown redevelopment corporation has assisted lowertown in attracting millions of dollars in investments, retaining jobs in the area, adding units of housing (a percentage of them affordable housing), and most importantly, creating a lively and growing urban village in the heart of st. Paul. Lowertown redevelopment corporation has made lowertown one of the fastest growing neighborhoods in the city. Families are one of the largest growing groups among new residents. Lowertown redevelopment corporation also has been successful in building lowertown culturally. Through deliberate partnership efforts and financing, one of the largest artists' communities in the upper midwest has developed. Also many arts organizations of all sizes are located in lowertown by building infrastructure and amenities and by developing affordable space, lowertown has successfully attracted many young high tech firms, resulting in lowertown's emergence as a growing cyber village.
Operating model
- Revenue model
- Cannot be determined from the filing. The filing does not provide enough consistent revenue detail to tell how this nonprofit funds its work.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.
Rating breakdown
- Financial Efficiency: 27
- Transparency & Controls: 82
- Sustainability: 7
- Growth: 40
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: Limited
- Program expense ratio: 73.2%; rating input score 73
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
- Major donor itemization: Limited
Sustainability
- Operating margin: Limited
- Total-asset coverage ratio: 0; rating input score 1; 1st percentile among comparable filings
- Liabilities to assets ratio: Limited
- Officer compensation ratio: 0%; rating input score 57; 57th percentile among comparable filings
Growth
- Program expense growth: 13.8% per year; rating input score 100; 74th percentile among comparable filings
- Revenue growth: -150% per year; rating input score 0; 1st percentile among comparable filings
- Asset growth: -112.8% per year; rating input score 0; 1st percentile among comparable filings
Details
- What they do: 3 programs and campaigns described on the official site · 1 operating location identified
- Where the money goes: 73.2% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 1 filed program accomplishment · $6K in reported program spending
- Leadership: top reported pay $0 · 2 people listed
- Consistency: 7 of 7 current checks pass
- Schedules: 3 filed schedules
- Filing history: 3 filing years from 2011 to 2013
- Contacts: How to reach this organization
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Sustainability: Total-asset coverage ratio scored 1/100.
- High — Growth: Revenue growth scored 0/100.
- High — Growth: Asset growth scored 0/100.
- Review — Sustainability: Officer compensation ratio scored 57/100.