Ppl Properties

Organization Overview

Ppl Properties is located in Minneapolis, MN. The organization was established in 2011. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ppl Properties 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 12/2021, Ppl Properties generated $5.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.0% each year. All expenses for the organization totaled $8.8m during the year ending 12/2021. While expenses have increased by 8.8% per year over the past 7 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

PPL PROPERTIES HAS BEEN FORMED AS A SUPPORTING ORGANIZATION TO A NONPROFIT, TAX-EXEMPT CHARITABLE MINNESOTA CORPORATION, PROJECT FOR PRIDE IN LIVING, INC. (PPL). THE MISSION OF PPL IS TO WORK WITH LOWER-INCOME INDIVIDUALS AND FAMILIES TO ACHIEVE GREATER SELF-SUFFICIENCY THROUGH HOUSING, EMPLOYMENT TRAINING, EDUCATION AND SUPPORT SERVICES. TO THIS END, PPL PROPERTIES SHALL OWN MEMBERSHIP INTERESTS IN LIMITED LIABILITY COMPANIES THAT HOLD AND MANAGE REAL ESTATE DEVOTED TO USE AS AFFORDABLE HOUSING FOR LOWER-INCOME INDIVIDUALS AND FAMILIES. PPL PROPERTIES ALSO PARTICIPATES AS A PARTNER IN GENERAL AND/OR LIMITED PARTNERSHIPS THAT OWN AND MANAGE REAL PROPERTY, ALL FOR THE BENEFIT OF PPL.

Describe the Organization's Program Activity:

Part 3 - Line 4a

PPL PROPERTIES OWNS MEMBERSHIP INTERESTS IN OVER 20 SINGLE-MEMBER LIMITED LIABILITY COMPANIES THAT HOLD AND MANAGE REAL ESTATE DEVOTED TO USE AS AFFORDABLE HOUSING FOR LOWER-INCOME INDIVIDUALS AND FAMILIES. SEE SCHEDULE R FOR A FULL LIST.PPL PROPERTIES ALSO PARTICIPATES AS A PARTNER IN GENERAL AND/OR LIMITED PARTNERSHIPS THAT OWN AND MANAGE REAL PROPERTY, ALL FOR THE BENEFIT OF PPL, IN FUTURE YEARS.PPL PROPERTIES IS THE SOLE OWNER OF WHOLLY OWNED LLCS WHICH CONSISTS OF: A COMMUNITY CENTER THAT HOUSES A PPL PROGRAM, THE SERVICE CENTER WHICH IS THE HEADQUARTERS OF PPL'S ADMINISTRATIVE OFFICES AND ONSITE TRAINING CENTER (FRANKLIN THEATER), AND AN ENTITY WHICH ACQUIRES, REHABILITATES, AND SELLS SINGLE FAMILY HOMES TO LOW INCOME BUYERS IN NORTH MINNEAPOLIS.


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Board, Officers & Key Employees

Name (title)Compensation
Michael Lafave
President
$0
Paul Williams
Vice President
$0
Scott Cordes
Treasurer
$0
Leslie Seaberg
Secretary
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Tranquility Housing
Cleaning
$121,738
Twin Construction Llc
Construction
$130,843
Aspen Waste Systems
Trash Removal
$137,692
Twin City Lawmen Inc
Security
$110,066
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$430,968
Government grants $61,725
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$492,693
Total Program Service Revenue$5,185,092
Investment income $3,678
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $5,681,463

Grants Recieved

Over the last fiscal year, we have identified 2 grants that Ppl Properties has recieved totaling $500.

Awarding OrganizationAmount
Land O L Foundation

St Paul, MN

PURPOSE: DOLLARS FOR DOERS

$250
Land O L Foundation

St Paul, MN

PURPOSE: DOLLARS FOR DOERS

$250
View Grant Recipient Profile

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