Nonprofit · EIN 41-1558711
AEON
Tax-exempt · MINNEAPOLIS, MN 55401
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $44,429,925 | $60,775,809 | -$16,345,884 | $168,575,474 | $234,461,652 | -$65,886,178 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $15,956,347
- of which government grants
- $12,675,972
- Program service revenue
- $27,299,454
- Investment income
- $1,202,077
- Net income from fundraising events
- -$52,149
- Other revenue
- -$27,953
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $969,348
- Other salaries and wages
- $8,390,826
- Salaries, compensation and benefits (total)
- $10,720,627
- Professional fundraising fees
- $53,972
- Legal fees
- $106,483
- Accounting fees
- $99,355
- Occupancy
- $2,166,213
- Depreciation
- $5,768,439
- Program services (functional)
- $57,903,668
- Management and general (functional)
- $1,982,202
- Fundraising (functional)
- $889,939
Balance sheet and other
- Total assets, start of year
- $165,814,497
- Total assets, end of year
- $168,575,474
- Total liabilities, end of year
- $234,461,652
- Net assets, end of year
- -$65,886,178
- Land, buildings and equipment
- $125,751,613
- Net assets without donor restrictions
- -$76,063,397
- Net assets with donor restrictions
- $10,177,219
- Gross receipts
- $44,482,074
- Employees
- 318
- Volunteers
- 31
- Year formed
- 1986
- 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 | Other / benefits |
|---|---|---|---|---|
| ERIC JOHNSON | PRESIDENT & CHIEF EXECUTIVE OFFICER Officer | 50 | $285,548 | $22,614 |
| LAURA RUSS | CHIEF REAL ESTATE OFFICER Key employee | 50 | $247,169 | $2,516 |
| CAROLINE HORTON | CHIEF FINANCIAL OFFICER Officer | 50 | $215,762 | $10,563 |
| ANGELA EMMRICH | VICE PRESIDENT OF HUMAN RESOURCES Highest-paid employee | 50 | $171,665 | $22,216 |
| TYLER PARETTE | CHIEF POLICY & PARTNERSHIPS OFFICER Highest-paid employee | 50 | $179,576 | $10,375 |
| DAVID KEINERT | EXECUTIVE VP OF OPERATIONS Key employee | 50 | $186,150 | $1,764 |
| GREGORY STEGEMAN | CONTROLLER Highest-paid employee | 50 | $180,288 | $1,262 |
| MARY ROUTHIEAUX | VICE PRESIDENT OF ADVANCEMENT Highest-paid employee | 50 | $160,043 | $10,988 |
| JUAN TORRES | DIRECTOR OF HOUSING DEVELOPMENT Highest-paid employee | 50 | $139,717 | $9,343 |
| BOB TIMPERLEY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| CATHERINE SIMMONS-FAYE JONES | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DAN REED | DIRECTOR Trustee or director | 1 | $0 | $0 |
| GREG WERNER | BOARD SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| JACKIE FOSTER | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JOE ABRAHAM | DIRECTOR Trustee or director | 1 | $0 | $0 |
10 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| LINDA STAGE | DIRECTOR Trustee or director | 1 | $0 |
| MARTHA NEVANEN | BOARD VICE CHAIRPERSON Trustee or director, Officer | 1 | $0 |
| MARTHA SWANSON | DIRECTOR Trustee or director | 1 | $0 |
| MATT PLEC | DIRECTOR Trustee or director | 1 | $0 |
| MELISSA DOWNEY | BOARD CHAIRPERSON Trustee or director, Officer | 1 | $0 |
| OSCAR YANEZ | DIRECTOR Trustee or director | 1 | $0 |
| RICK PURCELL | DIRECTOR Trustee or director | 1 | $0 |
| SARAH MOBERG | DIRECTOR Trustee or director | 1 | $0 |
| SAREOUN EARM | DIRECTOR Trustee or director | 1 | $0 |
| SHAWN POWER | DIRECTOR Trustee or director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 901 N 3RD ST STE 150, MINNEAPOLIS, MN 55401-1175
- Principal officer (990 for 2024)
- CAROLINE HORTON, 901 NORTH THIRD STREET 150, MINNEAPOLIS, MN 55401
- Signed the 990
- CAROLINE HORTON, CHIEF FINANCIAL OFFICER
- Phone
- (612) 341-3148
- Return prepared by
- BAKER TILLY ADVISORY GROUP LP
Mission
TO CREATE AND SUSTAIN QUALITY AFFORDABLE HOMES THAT STRENGTHEN LIVES AND COMMUNITIES. AEON ACQUIRES, IMPROVES, AND PRESERVES DECENT, SAFE AND AFFORDABLE HOUSING FOR VERY LOW, LOW AND MODERATE INCOME PERSONS, REMAINING RESPONSIBLE AND RESPONSIVE TO THE COMMUNITY, NEIGHBORHOOD AND RESIDENTS IT SERVES.
Program accomplishments
- RENTAL OPERATIONS - AEON OWNS AND OPERATES AFFORDABLE APARTMENT HOMES FOR RESIDENTS WITH LOW OR MODERATE INCOMES. EACH YEAR, AEON SERVES RESIDENTS ACROSS 60 PROPERTIES IN THE TWIN CITIES METRO REGION OF MINNESOTA. RESIDENTS INCLUDE PEOPLE WHO HAVE EXPERIENCED HOMELESSNESS, YOUTH, SENIORS, PEOPLE WITH MENTAL AND CHEMICAL HEALTH ISSUES, AND OTHERS WHO FACE CHALLENGES MAINTAINING HOUSING STABILITY.Expenses $48,713,625 · revenue $22,625,939
- HOUSING DEVELOPMENT - AEON EXPANDS AFFORDABLE HOUSING THROUGH NEW CONSTRUCTION AND ACQUISITIONS. WE CURRENTLY HAVE ALMOST 6,000 HOMES ACROSS 60 PROPERTIES IN THE TWIN CITIES METRO REGION.Expenses $3,067,108 · revenue $1,279,232
- PROPERTY MANAGEMENT - AEON MANAGES MOST OF THE PROPERTIES IT OWNS, ENSURING APARTMENT HOMES ARE QUALITY HOMES FOR THE LONG-TERM, WHILE BUILDING POSITIVE RELATIONSHIPS WITH RESIDENTS. AS OF DECEMBER 31, 2024, AEON MANAGES 50 PROPERTIES ACROSS THE TWIN CITIES METRO REGION.Expenses $4,905,777 · revenue $3,394,283
- RESIDENT CONNECTIONS - MANY RESIDENTS COME TO AEON WITH A VARIETY OF CHALLENGES AND LIVED EXPERIENCES. RESIDENT SERVICES PROVIDES SUPPORT TO START ADDRESSING BARRIERS AND HELP RESIDENTS SUCCESSFULLY MAINTAIN THEIR HOUSING. THIS IS DONE THROUGH 1) COMMUNITY SERVICE PROVIDERS, WHO PROVIDE 1:1 CASE MANAGEMENT TO RESIDENTS WITH SIGNIFICANT CHALLENGES TO MAINTAINING HOUSING STABILITY; AND 2) AEON'S RESIDENT CONNECTIONS TEAM, WHICH HELP RESIDENTS MAINTAIN HOUSING BY ASSISTING THEM TO ACCESS BASIC NEEDS, BUILDING COMMUNITY, AND FOSTERING LEADERSHIP.Expenses $1,217,158
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
- 41-1558711
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1986
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Housing and shelter (L20Z)
- Assets (IRS master file)
- $168,575,474
- Income (IRS master file)
- $44,482,074
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | – | – | – | IRS |
| 990-T | December 2024 | – | – | – | IRS |
| 990 | December 2023 | $35,940,978 | $74,887,394 | $165,814,497 | IRS |
| 990-T | December 2023 | – | – | – | IRS |
| 990 | December 2022 | $34,793,622 | $50,323,803 | $203,603,573 | IRS |
| 990-T | December 2022 | – | – | – | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990-T | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS publishes only the latest e-Postcard per organization; earlier years appear here as 990.tax collects the monthly files. 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.
Questions about AEON
- What is the EIN of AEON?
- The employer identification number (EIN) of AEON is 41-1558711.
- Is AEON tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1986.
- Are donations to AEON tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does AEON 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 AEON 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 AEON 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 AEON?
- The 990 for the year ended December 31, 2024 names CAROLINE HORTON.
- Who are the officers and directors of AEON?
- The 990 for the year ended December 31, 2024 lists 25 people; 9 received compensation from the organization, the highest $285,548 (ERIC JOHNSON, PRESIDENT & CHIEF EXECUTIVE OFFICER).
- How much revenue does AEON have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $44,429,925, expenses of $60,775,809 and total assets of $168,575,474 at year end.
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