Commonbond Communities

Organization Overview

Commonbond Communities is located in St Paul, MN. The organization was established in 1976. 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. As of 12/2021, Commonbond Communities employed 164 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Commonbond Communities 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, Commonbond Communities generated $28.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.6% each year. All expenses for the organization totaled $22.4m during the year ending 12/2021. While expenses have increased by 12.6% 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 990T Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

COMMONBOND'S MISSION IS TO BUILD STABLE HOMES, STRONG FUTURES AND VIBRANT COMMUNITIES.

Describe the Organization's Program Activity:

ADVANTAGE SERVICES: COMMONBOND IS DEDICATED TO PROVIDING SAFE, AFFORDABLE HOUSING FOR COMMUNITY MEMBERS IN NEED. HOWEVER, AS IMPORTANT AS SAFE HOUSING IS FOR RESIDENTS, COMMONBOND'S COMMUNITIES ARE MORE THAN SHELTER -- THEY ARE PLACES FOR RESIDENTS TO GAIN STABILITY AND BUILD COMMUNITY. ON-SITE ADVANTAGE CENTERS OFFER PROGRAMS TO ADDRESS RESIDENT NEEDS, WITH THE OVERALL GOAL OF KEEPING RESIDENTS STABLY HOUSED. TRANSPORTATION AND FINANCIAL BARRIERS ARE ELIMINATED AS THESE SERVICES ARE OFFERED FREE OF CHARGE. SEE SCHEDULE O FOR MORE INFO ON ADVANTAGE SERVICES' ACCOMPLISHMENTS.ADVANTAGE SERVICES ARE FOCUSED ON THE AREAS OF: STABILITY AND INDEPENDENCE; EDUCATION AND ADVANCEMENT; HEALTH AND WELLNESS; AND COMMUNITY BUILDING AND ENGAGEMENT.STABILITY AND INDEPENDENCE: STAFF PROVIDE SUPPORT TO HELP RESIDENTS MAINTAIN HOUSING, INCLUDING WORKING WITH PROPERTY MANAGEMENT IF RENT WILL BE LATE, ACCESSING EMERGENCY OR UTILITY RENTAL ASSISTANCE, AND OTHER ASSISTANCE TO PREVENT EVICTION. EDUCATION AND ADVANCEMENT: STAFF WORK WITH ADULTS TO HELP THEM MAINTAIN STABLE HOUSING AND ACHIEVE THEIR ECONOMIC GOALS THROUGH: ON-SITE EMPLOYMENT SERVICES; FINANCIAL COACHING AND COUNSELING; AND MAXIMIZING INCOME SUPPORT. DURING 2021, THE PROGRAM ASSISTED WITH ADULT JOB PLACEMENTS, AND CLOSE TO 60% RETAINED EMPLOYMENT FOR MORE THAN ONE YEAR. ADDITIONALLY, CHILDREN AND YOUTH HAVE ACCESS TO ACADEMIC MENTORING THROUGH STUDY BUDDIES, HOMEWORK CENTERS, AND ENRICHMENT/LEADERSHIP PROGRAMS. DURING 2021, OVER 95% OF YOUTH WHO PARTICIPATED IN STUDY BUDDIES IMPROVED THEIR READING LEVEL. IN ADDITION, OVER 90% OF TEENS WHO PARTICIPATED IN ENRICHMENT AND LEADERSHIP PROGRAMMING ENGAGED IN FUTURE PLANNING.HEALTH AND WELLNESS: SENIORS AND RESIDENTS WITH DISABILITIES BENEFIT FROM EVIDENCE-BASED HEALTH AND WELLNESS PROMOTION PROGRAMS THAT WERE OFFERED. THE GOAL IS TO KEEP RESIDENTS ACTIVE AND IN THEIR OWN HOMES. DURING 2021, OVER 70% OF SENIORS AND RESIDENTS WITH DISABILITIES WHO PARTICIPATED IN THE EVIDENCE-BASED EXERCISE PROGRAMS MAINTAINED OR IMPROVED THEIR STRENGTH AND COORDINATION.COMMUNITY BUILDING AND ENGAGEMENT: WE PROVIDE OPPORTUNITIES FOR COMMUNITY BUILDING, INCLUDING RESIDENT ASSOCIATIONS, COMMUNITY GARDENS, AND INTERGENERATIONAL EVENTS. THE GOAL IS TO EMPOWER RESIDENTS TO DEVELOP ACTIVITIES THAT ARE MEANINGFUL IN THEIR OWN COMMUNITIES, BOTH WITHIN HOUSING AND WITH SURROUNDING NEIGHBORS. DURING 2021, OVER 2,000 RESIDENTS PARTICIPATED IN COVID-SAFE COMMUNITY BUILDING ACTIVITIES.


HOUSING DEVELOPMENT, PROPERTY MANAGEMENT AND ASSET MANAGEMENT: SINCE 1971, COMMONBOND COMMUNITIES HAS BEEN PROVIDING HOMES AND HOPE FOR THOSE MOST IN NEED IN OUR COMMUNITY. AS A PREMIER NONPROFIT DEVELOPER AND MANAGER OF AFFORDABLE HOUSING, COMMONBOND IS BEST POSITIONED TO ADDRESS THE CRITICAL NEED FOR MORE AFFORDABLE HOUSING IN OUR REGION. IN ORDER TO ACHIEVE ITS GOAL OF SERVING 15,000 PER YEAR BY 2025, COMMONBOND HAS BEEN AGGRESSIVELY GROWING ITS REAL ESTATE PIPELINE, DEVELOPING FINANCING TOOLS INTERNALLY AND WITH STAKEHOLDERS, AND EVALUATING ITS EXISTING PORTFOLIO FOR UPCOMING NEEDS. SEE SCHEDULE O FOR MORE INFO ON HOUSING DEVELOPMENT, PROPERTY MANAGEMENT, AND ASSET MANAGEMENT'S ACCOMPLISHMENTS.DURING 2021, COMMONBOND OWNED AND MANAGED MORE THAN 7,000 UNITS OF AFFORDABLE HOUSING THAT PROVIDED NEARLY 12,000 PEOPLE (FAMILIES, SENIORS, VETERANS, AND PEOPLE WITH DISABILITIES AND OTHER BARRIERS) A PLACE TO CALL HOME. NEARLY 4,000 OF THESE INDIVIDUALS WERE CHILDREN.


COMMUNITY ENGAGEMENT: INTEGRAL TO OUR WORK ARE THE RELATIONSHIPS THAT ARE FORMED TO BENEFIT OUR RESIDENT COMMUNITY AND OUR HOUSING COMMUNITIES IN GENERAL. COMMUNITY MEMBERS WORK HAND-IN-HAND WITH STAFF AND RESIDENTS AT OUR HOUSING COMMUNITIES. HUNDREDS OF RESIDENTS, CRITICAL SERVICE PROVIDERS, LOCAL BUSINESS OWNERS, MUNICIPALITIES, COMMUNITY GROUPS, FAITH COMMUNITIES, AND OTHER NEIGHBORHOOD ORGANIZATIONS SERVE ON BOARDS AND COMMITTEES TO HELP FOSTER UNDERSTANDING AND SUPPORT THE HOUSING COMMUNITIES AND THE PEOPLE WHO LIVE THERE. THIS MODEL PROMOTES RESIDENT LEADERSHIP AND HELPS BREAK DOWN BARRIERS THAT SOMETIMES ARISE BETWEEN AN AFFORDABLE HOUSING SITE AND ITS SURROUNDING NEIGHBORHOOD.


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Board, Officers & Key Employees

Name (title)Compensation
Deidre Schmidt
President & CEO
$282,058
Derek Madsen
Executive VP Of Resource Development
$163,493
Tom Joyce
Secretary
$0
Cindy Koch
Treasurer
$0
Richard Wicka
Chair
$0
Adam Bernier
Vice Chair
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$886,524
Related organizations$0
Government grants $5,915,370
All other contributions, gifts, grants, and similar amounts not included above$5,225,982
Noncash contributions included in lines 1a–1f $107,561
Total Revenue from Contributions, Gifts, Grants & Similar$12,027,876
Total Program Service Revenue$16,039,812
Investment income $65,102
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 $28,132,790

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Commonbond Communities has recieved totaling $15,000.

Awarding OrganizationAmount
Stevens Square Foundation

Minneapolis, MN

PURPOSE: ADVANTAGE SERVICES FOR OLDER ADULTS WITH LOW INCOMES

$15,000
View Grant Recipient Profile

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