TRELLIS CO

EIN: 411699606 501(c)(3) Housing & Shelter

MINNEAPOLIS, MN

Total Revenue
$52,392,030
Total Expenses
$26,387,402
Total Assets
$208,391,097
Net Assets
$85,830,618
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Financial Trends

Organization Details

Formation Year
1991
Legal Domicile
MN
Principal Officer
ELIZABETH FLANNERY
Phone
6123326264
Tax Period
2024-01-01 to 2024-12-31

TRELLIS CO, founded in 1991, is a mid-sized nonprofit in the Housing & Shelter sector that reported $52.4M in total revenue in fiscal year 2024. Revenue surged 41% from the prior year, signaling strong growth momentum. The organization ran a surplus of $26.0M, a strong 50% operating margin.

Mission

TO PROVIDE, AMONG OTHER RELATED PURPOSES, DECENT HOUSING THAT IS AFFORDABLE TO LOW-INCOME AND MODERATE-INCOME PERSONS.

Program Service Accomplishments

Program 1
Expenses: $25,122,242 Revenue: $28,013,703

TRELLIS CO. PROVIDES QUALITY AFFORDABLE HOUSING TO PERSONS OF LOW AND MODERATE INCOME. HUD SECTION 8 SUBSIDIZES THE RENT PROVIDED CERTAIN INCOME GUIDELINES ARE MET. THE CORPORATION OWNS 29 PROPERTIES...

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TRELLIS CO. PROVIDES QUALITY AFFORDABLE HOUSING TO PERSONS OF LOW AND MODERATE INCOME. HUD SECTION 8 SUBSIDIZES THE RENT PROVIDED CERTAIN INCOME GUIDELINES ARE MET. THE CORPORATION OWNS 29 PROPERTIES AT DECEMBER 31, 2024: 1 BOSSEN TERRACE (DIAMOND HILL) MINNEAPOLIS, MN 66 UNITS 2 BOXLEITNER (HIGHER GROUND) MINNEAPOLIS, MN 85 UNITS 3 EVERGREEN HUTCHINSON, MN 62 UNITS 4 HAMLINE SAINT PAUL, MN 58 UNITS 5 JEFFERSON TOWNHOMES MINNEAPOLIS, MN 5 UNITS 6 LASALLE APARTMENTS MINNEAPOLIS, MN 63 UNITS 7 NEW BEGINNINGS MINNEAPOLIS, MN 4 UNITS 8 RAMSEY HILL SAINT PAUL, MN 54 UNITS 9 TRELLIS HILLSIDE GARDENS ACQUISITION LLC PROCTOR, MN 45 UNITS10 SLATER SQUARE MINNEAPOLIS, MN 163 UNITS 11 VETERANS ADMINISTRATION MINNEAPOLIS, MN 140 UNITS 12 WILLOWS APARTMENTS LITTLE FALLS, MN 56 UNITS 13 WOODLAND COURT APTS PARK RAPIDS, MN 80 UNITS 14 ZINSMASTER MINNEAPOLIS, MN 36 UNITS 15 E FLATS LP MINNEAPOLIS, MN 20 UNITS 16 FRANKLIN LANE APARTMENTS ANOKA, MN 66 UNITS 17 CHDC I LP MINNEAPOLIS, MN 92 UNITS 18 TRELLIS LOUISIANA COURT ACQUISITION LLC ST. LOUIS PARK, MN 56 UNITS19 LONGFELLOW LP MINNEAPOLIS, MN 24 UNITS 20 CHDC BUFFALO LP BUFFALO, MN 48 UNITS 21 CHDC MORRISON LP MINNEAPOLIS, MN 57 UNITS 22 EAST TOWN PARKING LLC MINNEAPOLIS, MN 23 GOLF VIEW LLC COKATO, MN 48 UNITS 24 BRANDES PLACE LP FRIDLEY, MN 16 UNITS 25 VISITATION PLACE LP SAINT PAUL, MN 16 UNITS 26 CHDC DAKOTA STUDIO LP APPLE VALLEY, MN 36 UNITS 27 ANDROY LP HIBBING, MN 48 UNITS 28 CHDC ELLIOT LP MINNEAPOLIS, MN 30 UNITS29 TRELLIS FLOUR EXCHANGE ACQUSITIONS LLC MINNEAPOLIS, MN COMMERCIAL ADDITIONALLY, THE CORPORATION IS A GENERAL PARTNER IN 29 LIMITED PARTNERSHIPS, A LIMITED PARTNER IN 1 LIMITED PARTNERSHIPS, HAS CONTROL OF A NONPROFIT ORGANIZATION FORMED TO OWN AFFORDABLE HOUSING, IS THE SOLE OWNER OF A PROPERTY MAINTEANCE COMPANY, AND IS ALSO THE SOLE OWNER OF A FOR-PROFIT REAL ESTATE MANAGEMENT CORPORATION.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $13,379,535
Program Service Revenue $32,743,595
Investment Income $4,607,846
Other Revenue $1,661,054
TOTAL REVENUE $52,392,030

Expense Breakdown

Grants Paid $0
Salaries & Benefits $2,232,175
Fundraising Expenses $0
Program Expenses $25,122,242
Other Expenses $24,155,227
TOTAL EXPENSES $26,387,402

Year-over-Year Comparison

2024 2023 Change
Revenue $52,392,030 $37,044,209 +0.4%
Expenses $26,387,402 $24,030,318 +0.1%
Net Income $26,004,628 $13,013,891 +1.0%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Governance

Voting Members
6
Independent Members
5
Employees
30
Volunteers
52

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
3
$249,278
Total Directors
6
$249,278
Key Employees
2
$486,616
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ELIZABETH FLANNERY PRESIDENT AND CEO AND CHAIR 40.00
Officer Director
$213,125 $36,153 $249,278
EDDIE LANDENBERGER BOARD MEMBER 1.00
Director
$0 $0 $0
EDEN SPENCER SECRETARY/TREASURER 1.00
Officer Director
$0 $0 $0
MONICA NILSSON BOARD MEMBER 1.00
Director
$0 $0 $0
KAREN REID PRESIDENT 1.00
Officer Director
$0 $0 $0
BOB ODMAN BOARD MEMBER 1.00
Director
$0 $0 $0
ANDREW PERRY PRESIDENT, TRELLIS MANAGEM 40.00
Key Emp
$221,125 $26,445 $247,570
DAN WALSH VP OF HOUSING DEVELOPMENT 40.00
Key Emp
$200,833 $38,213 $239,046
JUSTIN EILERS VP OF HOUSING DEVELOPMENT 40.00
Highest
$176,125 $28,858 $204,983
LISA FISCHER COO 40.00
Highest
$187,425 $24,755 $212,180
ELISABETH MICHELS PROJECT MANAGER 40.00
Highest
$100,104 $29,818 $129,922
DUSTIN KWALLEK SENIOR ASSET MANAGER 40.00
Highest
$111,250 $17,793 $129,043
MEGAN NETLAND CMO 40.00
Highest
$136,925 $19,065 $155,990
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $52,392,030 $26,387,402 $208,391,097 $26,004,628
2023 $37,044,209 $24,030,318 $186,696,733 $13,013,891
2022 $21,857,474 $22,618,343 $176,256,885 $-760,869
2021 $41,938,944 $24,595,932 $174,341,513 $17,343,012
2020 $33,802,990 $23,538,145 $153,060,672 $10,264,845
2019 $33,177,223 $23,129,463 $141,445,406 $10,047,760
2019 $33,177,223 $23,129,463 $141,445,406 $10,047,760
2018 $26,637,421 $20,992,653 $127,559,283 $5,644,768
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