The Rondo Community Land Trust

Nonprofit profile at a glance

EIN
411753148
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
St Paul, MN, USA
Phone
6512219884
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Official website

Reported finances

Revenue
$14,807,249
Expenses
$7,940,161
Assets
$22,434,789
Liabilities
$3,158,829

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

16 people listed

Executive titles in this filing

  • CHARLES BRADLEY (PRESIDENT)
  • SHANNON BRUNETTE (VICE PRESIDENT)
  • MIKEYA GRIFFIN (EXECUTIVE DIRECTOR)

Highest reported compensation

  • MIKEYA GRIFFIN (EXECUTIVE DIRECTOR): $140,655 total reported compensation
  • ELIZABETH COCO (DEPUTY DIRECTOR): $107,698 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Empowering with affordable housing. Strengthen and preserve communities by providing and advocating for permanently affordable, sustainable housing for families and individuals with low to moderate incomes. Promote the utilization of the land trust model as a method of preserving affordable housing, economic growth and neighborhood stabilization. Support and celebrate cultural diversity by providing affordable business opportunities to increase community economic wealth, property values and jobs.

What it reported doing in 2024

The rondo community land trust (rondo clt) created the rondo development on selby, llc. A subsidiary limited liability corporation for the selby milton victoria (smv) commercial land trust and senior housing project on selby avenue. Rondo clt, along with its partner community housing development corporation (chdc), developed two mixed use commercial/residential buildings. These buildings provide long-term affordable commercial space for small, local, and minority owned businesses along with affordable senior housing. The buildings are located at 852 selby and 940 selby in st. Paul. There are a total of 34 units of low income senior housing. The 34 units of affordable senior housing built on the top two floors of these buildings and were financed by a combination of deferred loans and low income housing tax credits. The units are affordable to those at 30% to 60% of the area median income. The affordability will be secured with restrictive covenants. There is 9,300 square feet of commercial space. There are five commercial spaces and two live work units. The housing portion of this project is owned by the chdc rondo limited partnership. Rondo development on selby llc is a cogeneral partner in this limited partnership.

Operating model

Revenue model
Donor-supported. 62% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 62% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - The filed numbers largely add up and a large share of total spending goes to programs. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 70
  • Transparency & Controls: 94
  • Accountability: 95
  • Sustainability: 81
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 51.9%; rating input score 52
  • Program expense ratio: 94.8%; rating input score 95
  • Fundraising efficiency: $99.26 raised per $1 spent on fundraising; rating input score 85; 85th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 46.4%; rating input score 93; 93rd percentile among comparable filings
  • Total-asset coverage ratio: 2.83; rating input score 73; 73rd percentile among comparable filings
  • Liabilities to assets ratio: 0.14; rating input score 67; 67th percentile among comparable filings
  • Officer compensation ratio: 3.1%; rating input score 67; 67th percentile among comparable filings

Growth

  • Program expense growth: 35.2% per year; rating input score 100; 96th percentile among comparable filings
  • Revenue growth: 29.7% per year; rating input score 100; 96th percentile among comparable filings
  • Asset growth: 18% per year; rating input score 100; 86th percentile among comparable filings

Details

  • Where the money goes: 51.9% of revenue deployed · 94.8% of spending went to programs
  • Governance: 12 of 12 board members independent · 7 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $7.5M in reported program spending
  • Leadership: top reported pay $141K · 16 people listed
  • Highest-paid contractors: 5 contractors listed · $1.9M reported
  • Consistency: 36 of 36 current checks pass
  • Schedules: 8 filed schedules · includes major donors and grants
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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.

  • Review — Financial Efficiency: Mission deployment rate scored 52/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.