Seward Redesign Inc, operating under the name Redesign Inc, is located in Minneapolis, MN. The organization was established in 1975. According to its NTEE Classification (A20) the organization is classified as: Arts & Culture, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2022, Redesign Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Redesign Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Redesign Inc generated $5.8m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 19.5% each year . All expenses for the organization totaled $2.0m during the year ending 12/2022. While expenses have increased by 5.6% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
BUILD VITAL NEIGHBORHOODS WITH LIVING-WAGE JOBS, AFFORDABLE HOUSING, QUALITY GOODS AND SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
REAL ESTATE DEVELOPMENTREDESIGN IMPLEMENTS RESIDENTIAL, COMMERCIAL, AND INDUSTRIAL REAL ESTATE DEVELOPMENT PROJECTS THAT SERVE THE NEEDS OF LOW- AND MODERATE-INCOME RESIDENTS, WOMEN AND PEOPLE-OF-COLOR WITHIN THE SEWARD AND GREATER LONGFELLOW NEIGHBORHOODS.IN 2022, REDESIGN FOCUSED ON THE FOLLOWING DEVELOPMENT PROJECTS : 1. AN 80,000 SQUARE FOOT HISTORIC COMMERCIAL BUILDING ON LAKE STREET AND WILL REDEVELOP THIS PROPERTY IN PARTNERSHIP WITH PEOPLE-OF-COLOR LED ENTITIES, ENSURING THE EQUITABLE RECOVERY OF THE LAKE STREET COMMERCIAL CORRIDOR, 2. A 6,800 SQUARE FOOT RETAIL/OFFICE BUILDING FOR REDEVELOPMENT AND SALE TO AN EXISTING BUSINESS TENANT, AND VACANT LAND TO PROVIDE FOR FUTURE NEW HOUSING DEVELOPMENT,3. RECEIVING DONATION OF LAND THAT WILL BE PLANNED AND DEVELOPED IN PARTNERSHIP WITH PEOPLE-OF-COLOR LED ENTITIES, WITH AN END USE OWNERSHIP MODEL OF PEOPLE-OF-COLOR BUSINESS AND ORGANIZATIONS THAT SUPPORT PEOPLE-OF-COLOR, AND4. PURCHASING AN APPROXIMATELY 32,000 SQ FT INDUSTRIAL BUILDING THAT WAS DAMAGED DURING THE CIVIL UNREST IN THE SUMMER OF 2020 TO RENOVATE AND REPURPOSE FOR NEIGHBORHOOD-BASED BUSINESSES OWNED BY PEOPLE-OF-COLOR AND EXPAND PROPERTY OWNERSHIP FOR THE BUSINESSES.SECURING FINANCING AND DEVELOPMENT OF A 32-UNIT APARTMENT PROJECT DESIGNED FOR LOW-INCOME FAMILIES AT SEWARD COMMONS IN PARTNERSHIP WITH NOOR COMPANIES. MANY OF THESE UNITS WILL BE THREE- AND FOUR-BEDROOM UNITS, SUITABLE FOR LARGER FAMILIES. CLOSING AND CONSTRUCTION START ARE ANTICIPATED FOR THE FALL OF 2023.REDESIGN SECURED A CONTRACT WITH THE CITY OF MINNEAPOLIS TO PROVIDE TRAINING IN REAL ESTATE DEVELOPMENT TO NEW AND EMERGING DEVELOPERS. UTILIZING THE SKILLS GARNERED FROM REDESIGN'S OWN DEVELOPMENT PROJECTS, WE ARE WORKING TO TRAIN AND PARTNER WITH THESE DEVELOPERS WHO ARE LARGELY FIRST-TIME DEVELOPERS AND PEOPLE OF COLOR.
BUSINESS DEVELOPMENT AND GROWTHREDESIGN SEEKS OUT AND ATTRACTS NEW BUSINESSES TO THE SEWARD AND GREATER LONGFELLOW NEIGHBORHOODS BY PROVIDING TECHNICAL ASSISTANCE, ACCESS TO LOW COST LOAN CAPITAL AND ASSISTANCE WITH REAL ESTATE PROJECTS. IN 2022, REDESIGN PROVIDED TECHNICAL ASSISTANCE TO OVER 50 SMALL BUSINESS CLIENTS AND AND LOANS TO 3, WITH AN EMPHASIS ON NAVIGATING THE IMPACT OF COVID-19 PANDEMIC AND REBUILDING FOLLOWING THE CIVIL UNREST DAMAGE ALONG EAST LAKE STREET THAT OCCURRED IN THE SUMMER OF 2020 IMPACTING MANY SMALL BUSINESSES. OUR FOCUS IS ON REACHING BUSINESSES THAT HAVE NOT ALWAYS ENJOYED EQUAL ACCESS TO SUPPORT INCLUDING IMMIGRANT, PEOPLE-OF-COLOR AND WOMAN-OWNED ENTERPRISES.REDESIGN PROVIDES COMMERCIAL BROKERAGE SERVICES TO LOCAL BUSINESSES TO ASSIST THEM IN FINDING SPACE TO LEASE OR PROPERTIES TO PURCHASE IN THE COMMUNITY, INCLUDING DEVELOPING PLANS FOR THE IMPROVEMENT OF SPACES AND THE FINANCING FOR THOSE IMPROVEMENTS. REDESIGN ALSO MANAGES THREE LOAN POOLS THAT MAKE BELOW-MARKET LOANS TO SMALL BUSINESSES THAT CREATE JOBS WITHIN THE COMMUNITY AND PROMOTE THE SUCCESS OF LOCAL COMMERCIAL CORRIDORS. MOST OF THESE BORROWERS WOULD NOT OTHERWISE HAVE ACCESS TO NEEDED AND EQUITABLE CAPITAL.
COMMERCIAL PROPERTY OPERATIONS AND MANAGEMENT FOR COMMUNITY VALUEREDESIGN OPERATES MULTI-TENANT COMMERCIAL PROPERTIES IN THE GREATER LONGFELLOW AND SEWARD NEIGHBORHOODS INCLUDING FRANKLIN EAST, 3300 EAST LAKE, 2610 EAST 32ND, FIVE SQUARE, VERNA AND FOCUS ARTS BUILDINGS. ALL OF THESE PROPERTIES ARE LEASED TO MULTIPLE SMALL BUSINESS AND COMMUNITY ORGANIZATION TENANTS, THE GREAT MAJORITY OF WHICH ARE WOMEN, PEOPLE-OF-COLOR AND/OR IMMIGRANT OWNED. THESE PROPERTIES ARE MANAGED FOR LONG-TERM SUSTAINABILITY TO ENSURE AFFORDABLE AND ACCESSIBLE COMMERCIAL SPACE.REDESIGN LEASES AND DIRECTLY MANAGES COMMERCIAL PROPERTIES THAT IT OWNS. ADDITIONALLY, REDESIGN PROVIDES PROPERTY AND ASSET MANAGEMENT SERVICES FOR OTHER PROPERTIES WITHIN THE SEWARD NEIGHBORHOOD TO ENSURE LONG-TERM AFFORDABILITY AND HIGH-QUALITY PHYSICAL MAINTENANCE. THESE PROPERTIES INCLUDE SEWARD TOWERS EAST AND WEST; AND TWO RESIDENTIAL TOWNHOUSE PROPERTIES THAT ARE PARTLY OR WHOLLY OWNED BY REDESIGN RESPECTIVELY.
COMMUNITY PLANNING AND INFRASTRUCTURE ADVOCACYREDESIGN ENGAGES EXISTING RESIDENTS, BUSINESSES AND PROPERTY OWNERS IN PROACTIVE PLANNING FOR FUTURE LAND USE AND DEVELOPMENT AND TO ADVOCATE ON BEHALF OF COMMUNITY-BASED DEVELOPMENT THAT SERVES THE NEEDS OF ALL RESIDENTS, INCLUDING COMMUNITIES-OF-COLOR, IMMIGRANT COMMUNITIES AND THOSE OF LOW AND MODERATE INCOME. REDESIGN ALSO WORKS WITH RESIDENTS, BUSINESSES AND LOCAL INSTITUTIONS TO PLAN AND ADVOCATE FOR INFRASTRUCTURE IMPROVEMENTS, INCLUDING ENHANCEMENTS FOR PEDESTRIANS AND BICYCLISTS IN PARTICULAR, AND THOSE CHANGES THAT WILL ADDRESS CLIMATE CHANGE INCLUDING INCREASED USE OF SOLAR ENERGY. REDESIGN HAS PROVIDED TECHNICAL ASSISTANCE TO SEVERAL BUSINESSES TO INSTALL SOLAR ARRAYS ON THEIR ROOF. REDESIGN HAS ALSO ADDED SOLAR TO THE ROOFS AT FRANKLIN EAST AND THE COOPERAGE.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Edward Landenberger Board Member | Trustee | 1 | $0 |
Claudia Klinkhammer Board Member | Trustee | 1 | $0 |
Teshome Tesh Belayneh Board Member | Trustee | 1 | $0 |
Emily Smoak Board Member | Trustee | 1 | $0 |
Christine Diindiisi Mccleave Board Member | Trustee | 1 | $0 |
Abdullahi Mohamed Board Member | Trustee | 1 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Pope Associates Architectural Services | 12/30/22 | $154,368 |
Nonprofit Mavens Accounting Services | 12/30/22 | $128,144 |
Faegre Drinker Biddle & Reath Legal Services | 12/30/22 | $121,268 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $301,710 |
All other contributions, gifts, grants, and similar amounts not included above | $3,976,784 |
Noncash contributions included in lines 1a–1f | $2,090,000 |
Total Revenue from Contributions, Gifts, Grants & Similar | $4,278,494 |
Total Program Service Revenue | $1,726,331 |
Investment income | $17,332 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | -$173,005 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $5,849,152 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $0 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $153,883 |
Compensation of current officers, directors, key employees. | $38,471 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $308,476 |
Pension plan accruals and contributions | $13,572 |
Other employee benefits | $29,300 |
Payroll taxes | $41,406 |
Fees for services: Management | $458 |
Fees for services: Legal | $3,480 |
Fees for services: Accounting | $90,806 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $89,394 |
Advertising and promotion | $1,566 |
Office expenses | $57,365 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $261,795 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $266,734 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $360,785 |
Insurance | $40,697 |
All other expenses | $0 |
Total functional expenses | $2,018,628 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $0 |
Savings and temporary cash investments | $4,933,370 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $356,222 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $34,303 |
Net Land, buildings, and equipment | $6,628,469 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $7,896,329 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $19,848,693 |
Accounts payable and accrued expenses | $570,865 |
Grants payable | $0 |
Deferred revenue | $0 |
Tax-exempt bond liabilities | $0 |
Escrow or custodial account liability | $0 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Secured mortgages and notes payable | $10,388,317 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $103,107 |
Total liabilities | $11,062,289 |
Net assets without donor restrictions | $4,573,509 |
Net assets with donor restrictions | $4,212,895 |
Capital stock or trust principal, or current funds | $0 |
Paid-in or capital surplus, or land, building, or equipment fund | $0 |
Retained earnings, endowment, accumulated income, or other funds | $0 |
Total liabilities and net assets/fund balances | $19,848,693 |