2024-11-14T15:25:55-08:00 2023-12-31 461594234 Boggeln & Company Inc 215 1/2 Main Street Huntington Beach CA 92648 990 2023-01-01 204361698 PLACE PROJECTS LINKING ART COMMUNITY & ENVIRONMENT PLAC 6513093889 729 N WASHINGTON AVE 600 MINNEAPOLIS MN 55401 CHRIS VELASCO PRESID/EXE DIR 2024-11-14 true true CHERI L BOGGELN P00854324 7143747434 2023 2024-10-15 13:58:12Z 729 N WASHINGTON AVE 600 MINNEAPOLIS MN 55401 69685662 false X WWW.WELCOMETOPLACE.ORG X 2006 MN TO BUILD A SUSTAINABLE, JUST, AND INSPIRING WORLD, ONE COMMUNITY AT A TIME. 10 8 0 11 0 360983 170451 529678 36264946 5543 -33498951 0 896204 2936446 0 0 1765 0 0 0 413899 7553724 415664 7553724 480540 -4617278 88063174 14803036 83498733 11972865 4564441 2830171 PLACE IS A NATIONAL NONPROFIT ORGANIZATION THAT HELPS COMMUNITIES CREATE ENTIRE NEIGHBORHOODS THAT BRING TOGETHER THE ARTS, ENVIRONMENTALISM AND SOCIAL JUSTICE. false false 7498452 36264946 PLACE WORKS WITH LOCAL GOVERNMENTS, FOUNDATIONS, AND COMMUNITY MEMBERS TO CREATE SUSTAINABLE, AFFORDABLE, MIXED-USE, MIXED-INCOME NEIGHBORHOODS FOR ARTISTS, UNDER-SERVED POPULATIONS FACING VARIOUS LIFE CHALLENGES, NONPROFIT ORGANIZATIONS, AND CREATIVE BUSINESSES. WITH PLACE'S GUIDANCE, THESE NEIGHBORHOODS WILL BE CREATED WITH VIGOROUS PUBLIC DIALOG, BUILT TO THE HIGHEST ENVIRONMENTAL STANDARDS, AND FILLED WITH PEOPLE FROM ALL BACKGROUNDS AND ECONOMIC CIRCUMSTANCES. THE PLACE TEAM ASSISTS ITS COMMUNITIES WITH EVERY ASPECT OF THE PROJECT FROM VISIONING TO PLANNING, FROM DESIGN TO FUNDING, FROM CONSTRUCTION TO SERVICE COORDINATION AND PROJECT MAINTENANCE. 7498452 true true false false false false false false false false true false true true true true false false false false false false false false false false false false false false false false false true false true false false true false false false true true false false false true 0 0 false 0 false false false false false false false 0 false false false false false false false X 10 8 true false false false false false false true true false false true true true true true false true true false CA MN X ELIZABETH BOWLING 6123093889 729 N WASHINGTON AVE SUITE 600 MINNEAPOLIS MN 55401 X CHRIS VELASCO PRESID/EXE DIR 55.00 0.00 X X 0 0 0 ELIZABETH BOWLING DIRECTOR 55.00 0.00 X 0 0 0 GARTH ROCKCASTLE CO-VICE PRESID 5.00 0.00 X X 0 0 0 KERRI STAHLECKER CO-VICE PRESID 5.00 0.00 X X 0 0 0 BRENT WEBB TREASURER 5.00 0.00 X X 0 0 0 EMILY MONAREZ CO-SECRETARY 5.00 0.00 X X 0 0 0 ROMULO E SAMANIEGO CO-SECRETARY 3.00 0.00 X X 0 0 0 Stacy Glovka Director 0.00 0.00 X 0 0 0 JONATHAN PEArLSTEIN DIRECTOR 2.00 0.00 X 0 0 0 CHARLES L RAISON MD DIRECTOR 1.00 0.00 X 0 0 0 0 false false false 0 170451 153300 170451 cancellation of debt 531110 34074388 34074388 other income 12097 12097 PARTNERSHIP FEES 531390 18895 18895 PROGRAM LOAN INTEREST 531390 366542 366542 RENTAL INCOME 531110 1787542 1787542 5482 5482 36264946 265 265 0 0 0 33250000 66749216 -33499216 -33499216 -33499216 0 0 0 0 2936446 36264946 -33498951 X 0 0 0 0 0 0 0 0 0 0 0 155951 155951 40738 40738 0 0 0 396857 396781 76 88203 87964 239 217335 216940 395 41462 41462 0 14902 13263 1639 0 0 0 90666 80693 9973 0 0 66483 66247 236 BAD DEBT EXPENSE 2466758 2466758 WRITEOFF OF LOAN FEES 2132532 2132532 PROPERTY TAXES 696969 696969 K-1 RENTAL EXPENSES 322888 322888 821980 820004 1976 7553724 7498452 55272 0 130973 7490 0 0 72892 0 0 0 5583279 5949822 0 750323 0 22665 22665 0 45626 75191 0 75438960 7378762 2132532 0 3908589 1391771 88063174 14803036 6628763 334880 948897 901443 68124805 3020702 7458865 7715236 337403 604 83498733 11972865 X 4564441 2830171 4564441 2830171 88063174 14803036 X -4617278 2341218 541790 X false false false X 169249 708957 157713 360983 170451 1567353 0 0 169249 708957 157713 360983 170451 1567353 457852 1109501 5000 5000 5018 5412 265 20695 0 0 1588048 38516766 0.69870 0.92940 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 22665 22665 7378762 DUE FROM RELATED PARTIES 1391771 ESCROW OPERATING RESERVE 1391771 FISCAL AGENT FUNDS 603 Rounding 1 604 X Part X : FIN48 Footnote PART X, LINE 2:PLACE IS A MINNESOTA NONPROFIT CORPORATION AND IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND APPLICABLE MINNESOTA STATUTES, EXCEPT TO THE EXTENT IT HAS TAXABLE INCOME FROM ACTIVITIES THAT ARE NOT RELATED TO ITS EXEMPT PURPOSE. MANAGEMENT BELIEVES THE ORGANIZATION DID NOT HAVE ANY UNRELATED BUSINESS INCOME.MANAGEMENT CONTINUALLY EVALUATES TAX POSITIONS REFLECTED IN ITS TAX FILINGS AND DOES NOT BELIEVE IT HAS TAKEN ANY UNCERTAIN TAX POSITIONS.THE PARTNERSHIP AND SLP COMPANY ARE NOT TAXABLE ENTITIES. ELIZABETH BOWLING DIRECTOR OPERATING X 66119 901443 false false false Lois I Velasco Trust Beneficiary construct X 1000000 1383693 false true true 2285136 Lois I Velasco Trust Beneficiary 74130 interest expense false Schedule L, Part V Supplemental Information SCHEDULE L, PART II, LOANS TO AND FROM INTERESTED PERSONS:line 1:(A) NAME OF PERSON: ELIZABETH BOWLING(B) RELATIONSHIP WITH ORGANIZATION: A DIRECTOR ON THE BOARD(C) PURPOSE OF LOAN: OPERATING EXPENSESline 2:(A) NAME OF PERSON: Lois I. Velasco Trust(B) RELATIONSHIP WITH ORGANIZATION: A director is a discretionary income beneficiary of the trust(C) PURPOSE OF LOAN: CONSTRUCTION EXPENSESSCHEDULE L, PART IV, Business Transactions Involving Interested Persons:line 1:(A) NAME OF PERSON: Lois I. Velasco Trust(B) RELATIONSHIP WITH ORGANIZATION: A director is a discretionary income beneficiary of the trust (D) DESCRIPTION OF TRANSACTION: INTEREST EXPENSE FOR THE LOAN FROM Lois I. Velasco Trust X 1 153300 fair market value false false false Form 990, Part VI, Section A, Line 2 CHRIS VELASCO (PRESIDENT) AND ELIZABETH BOWLING (FOUNDING BOARD MEMBER)HAVE A FAMILY RELATIONSHIP. Form 990, Part VI, Section B, Line 11b FORM 990 WILL BE REVIEWED IN DETAIL BY THE PRESIDENT AND TREASURER, AND WILL BE CIRCULATED TO THE ENTIRE BOARD OF DIRECTORS PRIOR TO FILING. Form 990, Part VI, Section B, Line 12c THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON WRITTEN REQUEST. Form 990, Part VI, Section B, Line 15b THE PROCESS FOR EXECUTIVE COMPENSATION REVIEW HAS NOT OCCURRED IN FIVE YEARS DUE TO THE FINANCIAL POSITION OF THE ORGANIZATION. IN THE PAST, THE PRESIDENT/EXECUTIVE DIRECTOR MAKES A REQUEST AND PRESENTS DATA, HE AND ELIZABETH BOWLING RECUSE THEMSELVES FROM BOARD DISCUSSIONS, THE BOARD REVIEWS THE DATA AND CONDUCTS A PERFORMANCE REVIEW DISCUSSION AND INDEPENDENT INVESTIGATION OF COMPENSATION, MINUTES ARE PRESERVED AND THE BOARD THEN VOTES. Form 990, Part VI, Section C, Line 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON WRITTEN REQUEST. Form 990, Part IX, Line 24e BANK SERVICE CHARGES: Column (A) - Total = $8440; Column (B) - Program Services = $8298; Column (C) - Management & General = $142; Column (D) - Fundraising = $0 Form 990, Part IX, Line 24e CLEANING AND MAINTENANCE: Column (A) - Total = $107235; Column (B) - Program Services = $107235; Column (C) - Management & General = $0; Column (D) - Fundraising = $0 Form 990, Part IX, Line 24e COMP BY PROP MGT: Column (A) - Total = $258908; Column (B) - Program Services = $258908; Column (C) - Management & General = $0; Column (D) - Fundraising = $0 Form 990, Part IX, Line 24e DUES AND SUBSCRIPTIONS: Column (A) - Total = $9175; Column (B) - Program Services = $8864; Column (C) - Management & General = $311; Column (D) - Fundraising = $0 Form 990, Part IX, Line 24e MEALS AND ENTERTAINMENT: Column (A) - Total = $1359; Column (B) - Program Services = $1358; Column (C) - Management & General = $1; Column (D) - Fundraising = $0 Form 990, Part IX, Line 24e OFFICE EQUIPMENT: Column (A) - Total = $5705; Column (B) - Program Services = $5077; Column (C) - Management & General = $628; Column (D) - Fundraising = $0 Form 990, Part IX, Line 24e OTHER EXPENSE: Column (A) - Total = $1341; Column (B) - Program Services = $1193; Column (C) - Management & General = $148; Column (D) - Fundraising = $0 Form 990, Part IX, Line 24e Postage and Shipping: Column (A) - Total = $530; Column (B) - Program Services = $479; Column (C) - Management & General = $51; Column (D) - Fundraising = $0 Form 990, Part IX, Line 24e REPAIR EXPENSE: Column (A) - Total = $228867; Column (B) - Program Services = $228867; Column (C) - Management & General = $0; Column (D) - Fundraising = $0 Form 990, Part IX, Line 24e TAXES: Column (A) - Total = $5041; Column (B) - Program Services = $4993; Column (C) - Management & General = $48; Column (D) - Fundraising = $0 Form 990, Part IX, Line 24e TELEPHONE: Column (A) - Total = $7720; Column (B) - Program Services = $7073; Column (C) - Management & General = $647; Column (D) - Fundraising = $0 Form 990, Part IX, Line 24e UTILITIES: Column (A) - Total = $187659; Column (B) - Program Services = $187659; Column (C) - Management & General = $0; Column (D) - Fundraising = $0 Form 990, Part XI, Line 9 ADJUSTMENT TO CORRECT FUND BALANCE = $541790 Statement Note 1 AT THE TIME OF FILING THE TAX RETURN. THE AUDIT IS STILL IN PROGRESS; THEREFORE, THE RETURN WAS PREPARED USING THE unAUDITED FINANCIAL STATEMENTS. SHOULD THE COMPLETE AUDIT CHANGE THE FINANCIAL STATEMENTS, AN AMENDED RETURN WILL BE FILED. THE ANSWER OF FORM 990 PART IV QUESTION 12B, and FORM 990 PART XII QUESTION 2B AND 2C REFLECT THIS SITUATION. WAV PARTNERS LLC 729 N WASHINGTON AVE SUITE 600 MINNEAPOLIS MN 55401 RENTAL REAL ESTATE CA 173090 7364719 PLACE CREST OF THE WAV PARTNERS LLC 729 N WASHINGTON AVE SUITE 600 MINNEAPOLIS MN 55401 RENTAL REAL ESTATE CA 1472 14043 PLACE PLACE E-GENERATION ONE LLC 729 N WASHINGTON AVE SUITE 600 MINNEAPOLIS MN 55401 RENTAL REAL ESTATE DE 34377099 PLACE VIA VERDE LLC 729 N WASHINGTON AVE SUITE 600 MINNEAPOLIS MN 55401 indoor agriculture (food production) MN PLACE WAV CONDOMINIUMS LLC 1388 SUTTER STREET 11TH FLOOR SAN FRANCISCO CA 94109 261911486 MANAGING COMMERCIAL SPACE CA see part vii -737 14043 false true 0.01000 WAV APARTMENTS PARTNERS LP 729 N WASHINGTON AVE SUITE 600 MINNEAPOLIS MN 55401 261911591 AFFORDABLE HOUSING - APARTMENTS CA WAV PARTNERS LLC -157314 7364719 false true 0.00005 SLP GREEN ENERGY LLC 729 N WASHINGTON AVE SUITE 600 MINNEAPOLIS MN 55401 352491597 FOOD WASTE TO ENERGY AND FERTILIZER DE PLACE E-GENE ONE LLC false true 0.01000 PLACE ST LOUIS PARK LAUNCH EQUITY LLC 729 N WASHINGTON AVE SUITE 600 MINNEAPOLIS MN 55401 810835820 REAL ESTATE DEVELOPMENT DE PLACE E-GENE ONE LLC false true 0.16438 false false false true false false false false false false false true false false false false false false false PART III, line 1, IDENTIFICATION OF RELATED ORGANIZATIONS TAXABLE AS PARTNERSHIP: NAME OF RELATED ORGANIZATION:WAV CONDOMINIUMS, LLCPRIMARY ACTIVITY: MANAGING COMMERCIAL SPACE AT WAV WHICH IT MASTER LEASESdirect controlling entity: CREST OF THE WAV PARTNERS, LLC