2025-10-15T10:30:19-05:00 2024-12-31 390859910 BAKER TILLY ADVISORY GROUP LP 225 S 6TH ST 2300 MINNEAPOLIS MN 55402 990 2024-01-01 454914706 THE LANDING APARTMENTS LAND 6123413148 901 N 3RD STREET 150 MINNEAPOLIS MN 55401 CAROLINE HORTON TREASURER 6123413148 2025-09-15 1 1 KAREN A GRIES P00078514 6128764500 2025-09-15 2024 2025-03-06 01:10:19Z CAROLINE HORTON 901 N 3RD STREET 150 MINNEAPOLIS MN 55401 473206 0 X N/A X 2012 MN TO PROVIDE ELDERLY OR DISABLED PERSONS WITH HOUSING FACILITIES AND SERVICES DESIGNED TO MEET THEIR PHYSICAL, SOCIAL, AND PSYCHOLOGICAL NEEDS, AND TO PROMOTE THEIR HEALTH, SECURITY, HAPPINESS, AND USEFULNESS IN LONGER LIVING, WITH THE CHARGES FOR SUCH FACILITIES AND SERVICES TO BE PREDICATED UPON THE PROVISION, MAINTENANCE, AND OPERATION THEREOF ON A NON-PROFIT BASIS. 7 7 0 7 0 0 0 0 435132 454363 15003 18843 0 0 450135 473206 0 0 0 0 0 0 0 0 0 615914 681226 615914 681226 -165779 -208020 7481668 7271875 155804 154031 7325864 7117844 X TO PROVIDE ELDERLY OR DISABLED PERSONS WITH HOUSING FACILITIES AND SERVICES DESIGNED TO MEET THEIR PHYSICAL, SOCIAL, AND PSYCHOLOGICAL NEEDS, AND TO PROMOTE THEIR HEALTH, SECURITY, HAPPINESS, AND USEFULNESS IN LONGER LIVING, WITH THE CHARGES FOR SUCH FACILITIES AND SERVICES TO BE PREDICATED UPON THE PROVISION, MAINTENANCE, AND OPERATION THEREOF ON A NON-PROFIT BASIS. 0 0 622051 454363 THE CORPORATION WAS FORMED FOR THE PURPOSE OF DEVELOPING AND OPERATING A SENIOR RESIDENTIAL APARTMENT COMPLEX LOCATED IN CHASKA, MINNESOTA, KNOWN AS THE LANDING APARTMENTS (THE PROJECT). THE PROJECT HAS 54 UNITS. 622051 1 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 7 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 7 7 1 1 0 0 0 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 MN X CAROLINE HORTON 6123413148 901 N 3RD STREET SUITE 150 MINNEAPOLIS MN 55401 MARTHA SWANSON DIRECTOR 1.00 1.00 X 0 0 0 MELISSA DOWNEY PRESIDENT 1.00 1.00 X X 0 0 0 MARTHA NEVANEN DIRECTOR 1.00 1.00 X 0 0 0 GREG WERNER SECRETARY 1.00 1.00 X X 0 0 0 SAROEUN EARM DIRECTOR 1.00 1.00 X 0 0 0 CJ SIMMONS-FAYE JONES DIRECTOR 1.00 1.00 X 0 0 0 SHAWN POWER DIRECTOR 1.00 1.00 X 0 0 0 ERIC JOHNSON PRESIDENT & EXECUTIVE VP 1.00 50.00 X 0 285548 22614 CAROLINE HORTON TREASURER 1.00 50.00 X 0 215762 10563 0 501310 33177 2 0 1 0 AEON MANAGEMENT LLC 901 NORTH 3RD ST 150 MINNEAPOLIS MN 55401 MANAGEMENT SERVICES & REIMBURSEMENTS 133189 1 TENANT RENTS 531110 246862 246862 TENANT ASSISTANCE PMTS 531110 201807 201807 LAUNDRY & OTHER INCOME 531390 5694 5694 454363 18843 18843 473206 454363 0 18843 48183 48183 1988 1988 10992 10992 182 182 8850 8850 4492 4492 136268 136268 2341 2341 230237 230237 43191 43191 OPERATING & MAINTENANCE 133336 133336 ADMINISTRATIVE 47561 47561 TAXES & INSURANCE 13605 13605 681226 622051 59175 0 20965 3657 25177 279646 8659 5606 248 9228733 2555514 6896202 6673219 530665 309499 7481668 7271875 11741 16837 558 1788 143505 135406 155804 154031 X -534236 -742256 7860100 7860100 7325864 7117844 7481668 7271875 -208020 0 X X 0 1 X 1 1 1 X 414952 422849 415441 435132 454363 2142737 414952 422849 415441 435132 454363 2142737 0 0 0 2142737 161 75 1515 15003 18843 35597 161 75 1515 15003 18843 35597 415113 422924 416956 450135 473206 2178334 0.98370 0.99130 0.01630 0.00870 X 711198 711198 8350226 2388205 5962021 167309 167309 0 6673219 TENANT SECURITY DEPOSIT 23218 FINANCE LEASE LIABILITY 112188 135406 X 473206 0 473206 0 473206 681226 0 681226 0 681226 PART X, LINE 2: ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE THAT THE CORPORATION EVALUATE TAX POSITIONS AND RECOGNIZE A LIABILITY (OR ASSET) IF THE CORPORATION HAS TAKEN AN UNCERTAIN TAX POSITION THAT WOULD NOT BE SUSTAINED UPON EXAMINATION BY TAX AUTHORITIES. THE CORPORATION HAS ANALYZED ITS TAX POSITIONS AND CONCLUDED THAT AS OF DECEMBER 31, 2024 AND 2023 THERE ARE NO UNCERTAIN TAX POSITIONS TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE CORPORATION IS SUBJECT TO ROUTINE AUDITS BY TAX AUTHORITIES, HOWEVER THERE ARE CURRENTLY NO AUDITS FOR ANY OPEN TAX PERIODS IN PROGRESS. 0 0 0 0 0 0 0 0 0 ERIC JOHNSON PRESIDENT & EXECUTIVE VP 0 285548 0 0 0 0 0 0 0 22614 0 308162 0 0 CAROLINE HORTON TREASURER 0 215762 0 0 0 0 0 0 0 10563 0 226325 0 0 PART I, LINE 3: THE PRESIDENT AND TREASURER ARE PAID BY AEON, A RELATED ORGANIZATION. AEON USES THE FOLLOWING TO ESTABLISH THE MENTIONED OFFICER'S COMPENSATION: - FORM 990 OF OTHER ORGANIZATIONS - COMPENSATION SURBEY OR STUDY - APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE FORM 990, PART VI, SECTION A, LINE 2 ERIC ANTHONY JOHNSON, EXECUTIVE VICE PRESIDENT, IS THE PRESIDENT OF THE EXEMPT CONTROLLING ORGANIZATION. CAROLINE HORTON, TREASURER, IS THE CFO AND TREASURER OF THE EXEMPT CONTROLLING ORGANIZATION. FORM 990, PART VI, SECTION A, LINE 3 AEON MANAGEMENT, LLC MANAGES THE PROPERTY. FORM 990, PART VI, SECTION A, LINE 7A AEON'S BOARD OF DIRECTORS ELECTS THE BOARD OF DIRECTORS FOR THE LANDING APARTMENTS. FORM 990, PART VI, SECTION A, LINE 7B ANY CHANGES IN THE ARTICLES OF INCORPORATION ARE SUBJECT TO APPROVAL BY THE BOARD OF DIRECTORS AND BY AEON. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTANT FOR INTERNAL REVIEW. IT IS THEN FINALIZED BY THE CHIEF FINANCIAL OFFICER BEFORE GOING TO THE PRESIDENT AND THE BOARD FOR REVIEW AND APPROVAL BEFORE FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C DIRECTORS OF THE LANDING APARTMENTS FOLLOW THE CONFLICT OF INTERST POLICY OF ITS PARENT ORGANIZATION, AEON. DIRECTORS MUST AVOID ANY CONFLICT OF INTEREST WITH RESPECT TO THEIR FIDUCIARY RESPONSIBILITY AND MUST REVEAL CONFLICT OF INTEREST AND ALL MATERIAL FACTS TO THE PRESIDENT AND CHAIRPERSON, WHO SHALL INFORM THE BOARD OF DIRECTORS, PRIOR TO PARTICIPATION IN DISCUSSION OR DECISION-MAKING. AFTER COMMUNICATING THE MATERIAL FACTS RELATED TO A POSSIBLE OR ACTUAL CONFLICT OF INTEREST SITUATION, THE INTERESTED PERSON SHALL NOT BE PRESENT DURING BOARD DISCUSSION, DELIBERATION, AND DECISION-MAKING OF EITHER 1) DETERMINATION AS TO WHETHER THERE IS A CONFLICT OF INTEREST, OR 2) RESOLUTION OF THE ISSUE INVOLVING A DETERMINED CONFLICT OF INTEREST. IN A CONFLICT OF INTEREST SITUATION, THE BOARD OF DIRECTORS SHALL DETERMINE WHETHER WITH REASONABLE EFFORTS THERE IS A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT FROM A PERSON OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST, AND, IF NOT POSSIBLE, THEN SHALL DETERMINE WHETHER THE PROPOSED TRANSACTION OR ARRANGEMENT IS IN AEON'S BEST INTEREST, FOR ITS OWN ORGANIZATIONAL BENEFIT, AND WHETHER IT IS FAIR AND REASONABLE. NON-DISCLOSURE OF AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST SHALL RESULT IN DISCIPLINARY ACTION BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 15 THE LANDING APARTMENTS DOES NOT HAVE ANY PAID EMPLOYEES. HOWEVER, IF THE LANDING APARTMENTS DID HAVE PAID EMPLOYEES THEY WOULD FOLLOW THE POLICIES OF AEON, THE TAX-EXEMPT CONTROLLING ORGANIZATION. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. 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