RONDO COMMUNITY LAND TRUST
626 SELBY AVE, ST PAUL, MN 55104 rondoclt.org

Total Revenue
$274,613
Total Expenses
$256,044
Net Assets
$2,960,661

Organizations Filed Purposes: TO STRENGTHEN COMMUNITIES BY PROVIDING PERMANENTLY AFFORDABLE, SUSTAINABLE HOUSING FOR FAMILIES AND INDIVIDUALS AT OR BELOW 80% OF THE AREA MEDIAN INCOME; AND, TO PROMOTE THE LAND TRUST MODEL AS A METHOD OF PRESERVING AFFORDABLE HOUSING.

THE ORGANIZATION, A COMMUNITY LAND TRUST (CLT), ACHIEVES PERMANENT, LONG- TERM HOUSING AFFORDABILITY THROUGH THE USE OF A GROUND LEASE. CLT HOMEBUYERS PURCHASE ONLY THE HOUSE, AND ENTER INTO A 99-YEAR GROUND LEASE WITH THE ORGANIZATION FOR THE EXCLUSIVE USE OF THE LAND. THE ORGANIZATION'S GROUND LEASE STATES THAT WHEN A HOMEOWNER DECIDES TO SELL THEIR HOME, THE HOUSE IS SOLD TO ANOTHER LOW-TO-MODERATE INCOME HOUSEHOLD FOR THE ORIGINAL PURCHASE PRICE PLUS 25% OF ANY APPRECIATION IN THE HOME'S VALUE. BY LIMITING MARKET APPRECIATION, PERMANENT AFFORDABILITY IS ENSURED AND INITIAL SUBSIDIES INVESTED IN MAKING THE HOME AFFORDABLE ARE SPREAD ACROSS GENERATIONS OF LOW-TO-MODERATE INCOME HOMEBUYERS. MOST IMPORTANTLY, THIS AFFORDABLE HOUSING OPTION GIVES HOUSEHOLDS THAT COULD OTHERWISE ONLY AFFFORD TO RENT THE OPPORTUNITY TO TAKE ADVANTAGE OF ALL OF THE BENEFITS OF HOMEOWNERSHIP; STABILITY, SECURITY, TAX BENEFITS, AND THE OPPORTUNITY TO EARN EQUITY AND APPRECIATION IN REAL ESTATE THAT IS NOT AVAILABLE THROUGH RENTING.

Executives Listed on Filing

Total Salary includes financial earnings, benefits, and all related organization earnings listed on tax filing

NameTitleHours Per WeekTotal Salary
Mychael WrightDIRECTOR1$0
Laura SkjerlyDIRECTOR1$0
Gabriele PillmannDIRECTOR1$0
Melissa PfeifferTREASURER1$0
Bill OehrleinDIRECTOR1$0
Maritza MarianiDIRECTOR1$0
Beth KodluboyVICE PRESIDE1$0
Charles JonesDIRECTOR1$0
Melvin GilesDIRECTOR1$0
Kathleen CastleSECRETARY1$0
Steve BubulDIRECTOR1$0
Charles BradleyPRESIDENT1$0

Data for this page was sourced from XML published by IRS (public 990 form dataset) from: https://s3.amazonaws.com/irs-form-990/202033219349304238_public.xml