Nonprofit · EIN 27-4235225
PPL PROPERTIES
Tax-exempt · MINNEAPOLIS, MN 55404
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $10,324,127 | $16,355,528 | -$6,031,401 | $117,420,890 | $122,419,823 | -$4,998,933 |
| December 31, 2023 | 990 | $6,694,602 | $12,222,325 | -$5,527,723 | $104,884,681 | $117,657,517 | -$12,772,836 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $36,754
- of which government grants
- $36,754
- Program service revenue
- $10,150,555
- Investment income
- $136,818
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Legal fees
- $96,939
- Accounting fees
- $52,750
- Occupancy
- $2,050,937
- Depreciation
- $2,805,982
- Program services (functional)
- $16,355,528
Balance sheet and other
- Total assets, start of year
- $104,884,681
- Total assets, end of year
- $117,420,890
- Total liabilities, end of year
- $122,419,823
- Net assets, end of year
- -$4,998,933
- Land, buildings and equipment
- $83,104,050
- Net assets without donor restrictions
- -$4,998,933
- Gross receipts
- $10,324,127
- Employees
- 0
- Volunteers
- 0
- Year formed
- 2010
- State of legal domicile
- MN
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| PAUL WILLIAMS | VICE PRESIDENT Trustee or director, Officer | 2 | $0 | $383,603 | $35,886 |
| SCOTT CORDES | TREASURER Trustee or director, Officer | 2 | $0 | $246,978 | $10,927 |
| KARLA HENDERSON | PRESIDENT Trustee or director, Officer | 5 | $0 | $172,121 | $16,146 |
| LESLIE SEABERG | SECRETARY Trustee or director, Officer | 2 | $0 | $100,406 | $14,798 |
990 for the year ended December 31, 2023: 4 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| PAUL WILLIAMS | VICE PRESIDENT Trustee or director, Officer | 2 | $0 | $363,956 | $31,148 |
| SCOTT CORDES | TREASURER Trustee or director, Officer | 2 | $0 | $240,056 | $10,650 |
| MICHAEL LAFAVE | PRESIDENT THROUGH OCTOBER 2023 Trustee or director, Officer | 5 | $0 | $172,069 | $4,451 |
| LESLIE SEABERG | SECRETARY Trustee or director, Officer | 2 | $0 | $98,906 | $12,488 |
Address and contacts
- Address (IRS master file)
- 1035 E FRANKLIN AVE, MINNEAPOLIS, MN 55404-2920
- In care of
- % JACK KATZMARK
- Principal officer (990 for 2024)
- MARA HENNEN, 1035 EAST FRANKLIN AVENUE, MINNEAPOLIS, MN 55404
- Signed the 990
- MARA HENNEN, CFO
- Phone
- (612) 455-5100
- Website
- PPL-INC.ORG
- Return prepared by
- MAHONEY ULBRICH CHRISTIANSEN & RUSS PA
Mission
THE CORPORATION SHALL BE OPERATED EXCLUSIVELY FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF, OR TO CARRY OUT THE PURPOSES OF PROJECT FOR PRIDE IN LIVING, A MINNESOTA NONPROFIT ORGANIZATION.
Program accomplishments
- PPL PROPERTIES OWNS MEMBERSHIP INTERESTS IN OVER 30 SINGLE-MEMBER LIMITED LIABILITY COMPANIES THAT HOLD AND MANAGE REAL ESTATE DEVOTED TO USE AS AFFORDABLE HOUSING FOR LOWER-INCOME INDIVIDUALS AND FAMILIES. SEE SCHEDULE R FOR A FULL LIST.PPL PROPERTIES ALSO PARTICIPATES AS A PARTNER IN GENERAL AND/OR LIMITED PARTNERSHIPS THAT OWN AND MANAGE REAL PROPERTY, ALL FOR THE BENEFIT OF PPL, IN FUTURE YEARS.PPL PROPERTIES IS THE SOLE OWNER OF OTHER WHOLLY OWNED LLCS WHICH CONSISTS OF: A COMMUNITY CENTER THAT HOUSES A PPL PROGRAM, THE SERVICE CENTER WHICH IS THE HEADQUARTERS OF PPL'S ADMINISTRATIVE OFFICES AND ONSITE TRAINING CENTER (FRANKLIN THEATER), AND AN ENTITY WHICH ACQUIRES, REHABILITATES, AND SELLS SINGLE FAMILY HOMES TO LOW INCOME BUYERS IN NORTH MINNEAPOLIS.Expenses $16,355,528 · revenue $10,150,555
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 27-4235225
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Supporting organization, Type I
- Donations deductible (Pub 78)
- Supporting organization, 50% limit
- Exempt since
- 2011
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Housing and shelter (L21)
- Assets (IRS master file)
- $117,420,890
- Income (IRS master file)
- $10,324,127
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $10,324,127 | $16,355,528 | $117,420,890 | IRS |
| 990 | December 2023 | $6,694,602 | $12,222,325 | $104,884,681 | XML |
| 990 | December 2022 | $10,418,182 | $10,257,593 | $82,919,180 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 27-4235225).
Questions about PPL PROPERTIES
- What is the EIN of PPL PROPERTIES?
- The employer identification number (EIN) of PPL PROPERTIES is 27-4235225.
- Is PPL PROPERTIES tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2011.
- Are donations to PPL PROPERTIES tax-deductible?
- Yes. It is listed in IRS Publication 78 (Supporting organization, 50% limit).
- Which annual return does PPL PROPERTIES file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of PPL PROPERTIES due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did PPL PROPERTIES last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of PPL PROPERTIES?
- The 990 for the year ended December 31, 2024 names MARA HENNEN.
- Who are the officers and directors of PPL PROPERTIES?
- The 990 for the year ended December 31, 2024 lists 4 people; 0 received compensation from the organization.
- How much revenue does PPL PROPERTIES have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $10,324,127, expenses of $16,355,528 and total assets of $117,420,890 at year end.
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All nonprofits in MINNEAPOLIS · Minnesota · Housing and shelter