Civic Intelligence

Place (Projects Linking Art Community & Environment)

990 • Fiscal year 2022 • EIN 20-4361698

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 16, 2023

Organization ProfileWWW.WELCOMETOPLACE.ORG
729 N Washington Ave 600Minneapolis, MN 55401

(651) 309-3889

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

91st percentile

0.95x

Higher debt load relative to assets than 91% of similar nonprofits.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2022

Liabilities / Revenue

99th percentile

93.17x

Higher debt load relative to revenue than 99% of similar nonprofits.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2022

Net Margin

91st percentile

54%

Higher net margin than 91% of similar nonprofits.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2022

Top Officer Pay

6th percentile

$0

Higher top officer pay than 6% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2022

Asset Growth

100th percentile

635%

Faster asset growth than 100% of similar nonprofits.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2021 to 2022

Revenue Growth

64th percentile

12%

Faster revenue growth than 64% of similar nonprofits.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets91st percentile

Assets

Up

$88,063,174

Up $76,084,922 (+635%) from 2021

Net Assets

Down

$4,564,441

Down $104,416 (-2.2%) from 2021

Liabilities

Up

$83,498,733

Up $76,189,338 (+1042%) from 2021

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin91st percentile

Revenue

Up

$896,204

Up $94,826 (+12%) from 2021

Expenses

Down

$415,664

Down $20,970 (-4.8%) from 2021

Net Income

Up

$480,540

Up $115,796 (+32%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth100th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$100M$50M$0Assets 2010: $2,326,464Liabilities 2010: $1,700,699Net Assets 2010: $625,7652010Assets 2011: $3,923,170Liabilities 2011: $2,214,214Net Assets 2011: $1,708,9562011Assets 2012: $4,015,700Liabilities 2012: $2,345,922Net Assets 2012: $1,669,7782012Assets 2013: $4,304,981Liabilities 2013: $2,518,910Net Assets 2013: $1,786,0712013Assets 2014: $4,613,032Liabilities 2014: $2,732,570Net Assets 2014: $1,880,4622014Assets 2015: $5,380,998Liabilities 2015: $2,834,010Net Assets 2015: $2,546,9882015Assets 2016: $5,755,164Liabilities 2016: $2,940,380Net Assets 2016: $2,814,7842016Assets 2017: $6,314,769Liabilities 2017: $3,167,463Net Assets 2017: $3,147,3062017Assets 2018: $9,327,855Liabilities 2018: $3,983,791Net Assets 2018: $5,344,0642018Assets 2019: $9,674,029Liabilities 2019: $5,857,217Net Assets 2019: $3,816,8122019Assets 2020: $10,578,533Liabilities 2020: $6,274,420Net Assets 2020: $4,304,1132020Assets 2021: $11,978,252Liabilities 2021: $7,309,395Net Assets 2021: $4,668,8572021Assets 2022: $88,063,174Liabilities 2022: $83,498,733Net Assets 2022: $4,564,4412022Assets 2023: $14,803,036Liabilities 2023: $11,972,865Net Assets 2023: $2,830,1712023Assets 2024: $13,659,596Liabilities 2024: $11,078,844Net Assets 2024: $2,580,7522024

Highlighted filing

2022

Assets$88,063,174
Liabilities$83,498,733
Net Assets$4,564,441
Open 2022 Filing

Operations Trend

Revenue Growth64th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$10M$5.0M$0-$5.0MExpenses 2010: $254,4732010Expenses 2011: $384,1222011Revenue 2012: $252,649Expenses 2012: $291,827Net Income 2012: -$39,1782012Revenue 2013: $414,032Expenses 2013: $297,739Net Income 2013: $116,2932013Revenue 2014: $349,345Expenses 2014: $254,954Net Income 2014: $94,3912014Revenue 2015: $1,004,190Expenses 2015: $248,560Net Income 2015: $755,6302015Revenue 2016: $737,069Expenses 2016: $469,273Net Income 2016: $267,7962016Revenue 2017: $963,152Expenses 2017: $630,630Net Income 2017: $332,5222017Revenue 2018: $2,768,320Expenses 2018: $571,562Net Income 2018: $2,196,7582018Revenue 2019: $870,875Expenses 2019: $2,398,127Net Income 2019: -$1,527,2522019Revenue 2020: $1,098,565Expenses 2020: $611,264Net Income 2020: $487,3012020Revenue 2021: $801,378Expenses 2021: $436,634Net Income 2021: $364,7442021Revenue 2022: $896,204Expenses 2022: $415,664Net Income 2022: $480,5402022Revenue 2023: $2,936,446Expenses 2023: $7,553,724Net Income 2023: -$4,617,2782023Revenue 2024: $1,456,318Expenses 2024: $1,705,737Net Income 2024: -$249,4192024

Highlighted filing

2022

Revenue$896,204
Expenses$415,664
Net Income$480,540
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 16, 2023
Return Version
2022v5.0
Gross Receipts
$916,482
Mission and Program Overview

Mission

Place is a national nonprofit organization that helps communities create state-of-the-art buildings and more, entire neighborhoods that bring together the arts, environmentalism and social justice.

To build a sustainable, just, and inspiring world, one community at a time.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Program Related$8,459,823$75,438,960▲ $66,979,137
Other Notes and Loans Receivable, Net$1,163,576$5,583,279▲ $4,419,703
Intangible Assets-$2,132,532-
Loans From Officers Directors$861,013$948,897▲ $87,884
Prepaid Expenses and Deferred Charges-$750,323-
Cash and Non-Interest-Bearing Accounts$1,289$130,973▲ $129,684
Accounts Receivable$2,353,155$72,892▼ $2,280,263
Investments in Publicly Traded Securities-$45,626-
Land, Buildings, and Equipment, Net$409$0▼ $409
Savings and Temporary Cash Investments-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Inventories for Sale or Use-$0-
Total Assets$11,978,252$88,063,174▲ $76,084,922
Other Assets Total-$3,908,589-
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,636,439$68,124,805▲ $66,488,366
Unsecured Notes Loans Payable$134,193$7,458,865▲ $7,324,672
Accounts Payable and Accrued Expenses$4,676,935$6,628,763▲ $1,951,828
Other Liabilities$815$337,403▲ $336,588
Total Liabilities$7,309,395$83,498,733▲ $76,189,338
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$4,668,857$4,564,441▼ $104,416
Total Net Assets Fund Balance$4,668,857$4,564,441▼ $104,416
Total Liabilities and Net Assets / Fund Balance$11,978,252$88,063,174▲ $76,084,922

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$22,665$22,665
Compensation and Service Providers
Top Officer Pay6th percentile

Board Members and Trustees

NameTitle
Charles L Raison MdDirector
Elizabeth BowlingDirector
Jonathan PealsteinDirector
Stacy GlovkaDirector
Chris VelascoPresid/exe Director
Emily MonarezCo-secretary
Romulo E SamaniegoCo-secretary
Garth RockcastleCo-vice Presid
Kerri StahleckerCo-vice Presid
Brent WebbTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$360,983
Program Service Revenue
$529,678
Investment Income
$5,543
Other Revenue
$0
All Other Contributions
$85,983
Change in Net Assets
$480,540

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded1$65,905fair market value
Total Noncash Contributions1$65,905-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$413,899
Salaries, Compensation, and Employee Benefits$1,765
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$79,155$9,783-$88,938
Advertising$36,377$4,496-$40,873
Office Expenses$24,601$3,040-$27,641
Insurance$20,124$2,487-$22,611
All Other Expenses$15,256$5,786-$21,042
Other Expenses$12,871$1,591-$14,462
Occupancy$12,519$1,547-$14,066
Information Technology$10,597$1,310-$11,907
Fees for Services Other$9,724$1,202-$10,926
Fees for Services Accounting-$7,453-$7,453
Fees for Services Legal$1,815$224-$2,039
Other Employee Benefits$1,571$194-$1,765
Depreciation Depletion$364$45-$409
Travel$347$43-$390
Total Functional Expenses$359,837$55,827$0$415,664
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Lois I Velasco TrustBeneficiaryinterest expenseNo$74,130

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$861,013$948,897▲ $87,884
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accrued Interest$336,723
Fiscal Agent Funds$680

Bond Issues

BondIssuerIssuedIssue PricePurpose
ACity of St Louis Park2018-12-28$43,650,000Via Sol Housing project
BCity of St Louis Park2022-01-05$10,000,000Via Sol Housing project
CCity of St Louis Park2022-01-05$10,000,000Via Sol Housing project

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$43,650,000--$2,501,192
B$10,000,000--$321,094
C$6,690,000--$214,812

Bond Financing Compliance

Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Corrective action procedures
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
Yes
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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.”

Filing and Contact Details

Filer

Filer Name
Place Projects Linking Art Community &
EIN
20-4361698
Phone
6513093889
Address
729 N WASHINGTON AVE 600, MINNEAPOLIS, MN 55401

Signing Officer

Name
Chris Velasco
Title
Presid/exe Director
Signed
2023-11-16
Discuss with paid preparer
Yes

Organization Details

Formed
2006
Legal Domicile
Mn
Voting Board Members
10
Independent Board Members
8
Employees
0
Volunteers
8

Preparer

Firm
Boggeln & Company Inc
Address
215 1/2 Main Street, Huntington Beach, CA 92648
Preparer
Cheri L Boggeln
Phone
7143747434
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Book/tax diff of investment in partnerships = -$17623”

Form 990, Part XI, Line 9

“Combination of via sol equity in consolidated finance stmt = $2457185”

Form 990, Part XI, Line 9

“Eliminations in consolidated financial statements = -$3024518”

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.”

Financial Statement Notes

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.”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0PART 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.

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$88,063,174
Liabilities
$83,498,733
Net assets
$4,564,441
Revenue
$896,204
Expenses
$415,664
Net income
$480,540
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$13.7$11.1$2.58$1.46$1.71$0.25
2023Summary only. Only limited summary data is available for this year.$14.8$12.0$2.83$2.94$7.55$4.62
2022Detailed filing. Detailed filing data is available for this year.$88.1$83.5$4.56$0.90$0.42$0.48
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.0$7.31$4.67$0.80$0.44$0.36
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$10.6$6.27$4.30$1.10$0.61$0.49
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$9.67$5.86$3.82$0.87$2.40$1.53
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$9.33$3.98$5.34$2.77$0.57$2.20
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.31$3.17$3.15$0.96$0.63$0.33
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.76$2.94$2.81$0.74$0.47$0.27
2015Detailed filing. Detailed filing data is available for this year.$5.38$2.83$2.55$1.00$0.25$0.76
2014Detailed filing. Detailed filing data is available for this year.$4.61$2.73$1.88$0.35$0.25$0.09
2013Detailed filing. Detailed filing data is available for this year.$4.30$2.52$1.79$0.41$0.30$0.12
2012Summary only. Only limited summary data is available for this year.$4.02$2.35$1.67$0.25$0.29$0.04
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.92$2.21$1.71$0.38
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.33$1.70$0.63$0.25