MINNEAPOLIS, MN
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)CITY OF LAKES COMMUNITY LAND TRUST, founded in 2002, is a community nonprofit in the Housing & Shelter sector that reported $3.1M in total revenue in fiscal year 2024. Revenue fell 76% from the prior year — a significant decline worth monitoring. Expenses of $3.5M exceeded revenue, resulting in a 12% operating deficit.
CREATING COMMUNITY OWNERSHIP THAT PRESERVES AFFORDABILITY AND INCLUSIVITY IS THE MISSION OF THE CITY OF LAKES COMMUNITY LAND TRUST.
IN 2024 THE CLCLT ASSISTED 48 NEW HOUSEHOLDS ACHIEVE CLCLT HOMEOWNERSHIP IN MINNEAPOLIS, BRINGING THE TOTAL NUMBER OF HOMES IN TRUST TO 415 VIA GROUND LEASE AND DEED RESTRICTIONS. CONSTRUCTION ON THE...
IN 2024 THE CLCLT ASSISTED 48 NEW HOUSEHOLDS ACHIEVE CLCLT HOMEOWNERSHIP IN MINNEAPOLIS, BRINGING THE TOTAL NUMBER OF HOMES IN TRUST TO 415 VIA GROUND LEASE AND DEED RESTRICTIONS. CONSTRUCTION ON THE CLCLT'S TWO LARGEST PROJECTS, THE 628 (7-UNIT CONDOMINIUM COMPLEX) AND HARRISON TOWNHOMES (17-UNITS), WERE COMPLETED IN 2024. CLOSINGS ON INDIVIDUAL HARRISON TOWNHOMES STARTED IN APRIL 2024 AND THE 628 IN OCTOBER 2024. ADDITIONALLY, THE CLCLT ACQUIRED FIFTEEN NEW PROPERTIES THROUGH ITS HOMEBUYER INITIATED PROGRAM; FOUR HOMES THROUGH PARTNERSHIPS WITH OTHER NONPROFIT DEVELOPERS; ONE THROUGH THE SELLER-LEVERAGED PROGRAM; THREE THROUGH PROJECT: SUSTAINED LEGACY; THREE EXISTING CONTRACT FOR DEED HOLDERS REFINANCED INTO CONVENTIONAL MORTGAGE; AND THREE CONTRACT FOR DEEDS WERE CANCELLED. OF ALL HOUSEHOLDS SERVED IN 2024, 61% WERE FROM COMMUNITIES OF COLOR, AND THE AVERAGE AREA MEDIAN INCOME WAS 51.06%IN ADDITION TO THE 415 HOMES IN TRUST AT YEAR-END 2024, THE CLCLT ALSO OWNS AND MAINTAINS FOUR RENTAL PROPERTIES, THE CLCLT OFFICE BUILDING, AND SEVERAL ADDITIONAL PROPERTIES UNDER DEVELOPMENT IN MINNEAPOLIS. EACH OF THESE PROPERTIES WILL REMAIN PERPETUALLY AFFORDABLE WITH NO OR VERY LITTLE ADDITIONAL AFFORDABILITY INVESTMENT BEING NEEDED AGAIN. AS OF YEAR-END 2024 THE CLCLT HAD ALSO FACILITATED A TOTAL OF 132 RESALES. IT'S IMPORTANT TO NOTE THAT NO NEW PUBLIC INVESTMENTS WERE NEEDED TO CREATE AFFORDABILITY FOR THE 134 RESALES DUE TO THE LONG-TERM AFFORDABILITY MECHANISM BUILT INTO THE COMMUNITY LAND TRUST. THE RESALES REPRESENT 134 LOW- AND MODERATE-INCOME HOUSEHOLDS WHO WERE ASSISTED INTO HOMEOWNERSHIP WITHOUT THE CLCLT NEEDING TO RAISE ADDITIONAL FUNDS TO KEEP THE HOMES AFFORDABLE DESPITE RAPIDLY RISING HOME VALUES IN MINNEAPOLIS AND INCREASING INTEREST RATES NATIONALLY. ALTHOUGH CONSTRUCTION COSTS STABILIZED SLIGHTLY IN 2024, THE IMPACT CONTINUES TO BE FELT ON CONSTRUCTION PROJECTS. EVEN THOUGH PUBLIC FUNDERS HAVE BEGUN TO ADJUST THEIR PER UNIT AFFORDABILITY OR DEVELOPMENT GAP MAXIMUM SUBSIDY LEVELS, THE CLCLT REMAINS CAUTIOUS ABOUT TAKING ON DEVELOPMENT PROJECTS WITHOUT AMPLE GAP RESOURCES OR DEFINITIVE PERMANENT FINANCING SOURCES AVAILABLE TO ENSURE THE HOMES ARE PRICED AFFORDABLY AT COMPLETION.IN 2024 THE CLCLT SPONSORED OVER 28 CLCLT ORIENTATIONS. CONTINUING TO PROVIDE VIRTUAL ORIENTATIONS HAS ALLOWED THE CLCLT TO OFFER ORIENTATIONS WITHOUT LIMITING THE NUMBER OF ATTENDEES DUE TO SPACE RESTRICTIONS. ADDITIONALLY, THE CLCLT PARTICIPATED IN FOUR COMMUNITY EVENTS AND FACILITATED FOUR COMMUNITY CONVERSATIONS. THROUGH THESE OUTREACH OPPORTUNITIES, THE CLCLT ESTIMATES IT WAS ABLE TO INFORM OVER 1,000 COMMUNITY MEMBERS ABOUT COMMUNITY LAND TRUST HOMEOWNERSHIP AND THE CLCLT'S PATHS INTO HOMEOWNERSHIP. ADDITIONALLY, THE CLCLT CONTINUES TO MEET WITH HOMEBUYERS VIRTUALLY, PRESENT TO NEIGHBORHOODS AND SOCIAL/HUMAN SERVICE PROVIDERS, AND OTHER STAKEHOLDERS ABOUT HOMEBUYER OPPORTUNITIES IN THE COMMUNITY AND THROUGH THE CLCLT WAY OF HOMEOWNERSHIP. AT YEAR'S END, CLCLT WAS STAFFED BY 6.8 FTE. OTHER SIGNIFICANT EVENTS IN 2024: CLCLT'S LONG-TIME FINANCE DIRECTOR TRANSITIONED OUT OF THE ORGANIZATION IN NOVEMBER 2024.
CITY OF LAKES COMMUNITY REALTY (CLCR), A MINNESOTA LIMITED LIABILTY NONPROFIT COMPANY, WAS FORMED TO FACILITATE LAND TRUST RESALES, PURCHASES, AND SELL RESIDENTIAL REAL ESTATE ON BEHALF OF CLCLT, AND...
CITY OF LAKES COMMUNITY REALTY (CLCR), A MINNESOTA LIMITED LIABILTY NONPROFIT COMPANY, WAS FORMED TO FACILITATE LAND TRUST RESALES, PURCHASES, AND SELL RESIDENTIAL REAL ESTATE ON BEHALF OF CLCLT, AND TO REPRESENT REAL ESTATE TRANSACTIONS OF PARTNER ORGANIZATIONS PROVIDING AFFORDABLE HOME OWNERSHIP. THE ACTIVITIES ARE SUPPORTED PRIMARILY FROM COMMISSIONS ON REAL ESTATE SALES.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2024 | 2023 | Change | |
|---|---|---|---|
| Revenue | $3,142,461 | $13,296,198 | -0.8% |
| Expenses | $3,512,334 | $2,202,127 | +0.6% |
| Net Income | $-369,873 | $11,094,071 | -1.0% |
Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics
Financial Distress Indicator
Liquidity & Cash Position
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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| CATRICE WILLIAMS | CHAIR | 0.50 |
Officer
Director
|
$0 | $0 | $0 |
| MARY CHRISTIANSON | VICE CHAIR | 0.50 |
Officer
Director
|
$0 | $0 | $0 |
| CHRISTINA A JENNINGS | TREASURER | 0.50 |
Officer
Director
|
$0 | $0 | $0 |
| LIBBY F MURPHY | SECRETARY | 0.50 |
Officer
Director
|
$0 | $0 | $0 |
| JASMINE BILLEY | MEMBER | 0.50 |
Director
|
$0 | $0 | $0 |
| RHEA BLUEARM | MEMBER | 0.50 |
Director
|
$0 | $0 | $0 |
| NATALY SANCHEZ | MEMBER | 0.50 |
Director
|
$0 | $0 | $0 |
| LUCIE SKJEFTE | MEMBER | 0.50 |
Director
|
$0 | $0 | $0 |
| MINKARA TEZET | MEMBER | 0.50 |
Director
|
$0 | $0 | $0 |
| BONITA TURNIPSEED | MEMBER | 0.50 |
Director
|
$0 | $0 | $0 |
| J RALPH PACE | MEMBER | 0.50 |
Director
|
$0 | $0 | $0 |
| STACI HORWITZ | OPERATIONS DIRECTOR | 36.50 |
Officer
|
$90,692 | $16,369 | $107,061 |
| MOLLIE MOSMAN | FINANCE DIRECTOR | 36.50 |
Officer
|
$91,903 | $11,662 | $103,565 |
| ANDREA REESE | EXECUTIVE DIRECTOR | 37.00 |
Officer
|
$104,369 | $20,281 | $124,650 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2024 | $3,142,461 | $3,512,334 | $31,414,217 | $-369,873 |
| 2023 | $13,296,198 | $2,202,127 | $32,072,076 | $11,094,071 |
| 2022 | $2,266,852 | $4,308,132 | $15,797,710 | $-2,041,280 |
| 2021 | $5,065,737 | $2,327,987 | $16,464,418 | $2,737,750 |
| 2020 | $2,548,331 | $1,795,887 | $12,567,753 | $752,444 |
| 2019 | $1,801,547 | $1,403,465 | $12,826,657 | $398,082 |
| 2018 | $2,458,984 | $1,484,803 | $11,027,062 | $974,181 |
Compare CITY OF LAKES COMMUNITY LAND TRUST with other nonprofits in Minnesota and across the country.