Civic Intelligence

The Landing Apartments

EIN 45-4914706 • 501(c)3 • Minneapolis, MN

Profile

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.

901 N 3rd Street 150Minneapolis, MN 55401

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

26th percentile

0.02x

Higher debt load relative to assets than 26% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

67th percentile

0.33x

Higher debt load relative to revenue than 67% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Net Margin

7th percentile

-44%

Higher net margin than 7% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

88th percentile

$308,162

Higher top officer pay than 88% of similar nonprofits.

Top officer pay equals 65.1% of source-year revenue.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Asset Growth

26th percentile

-2.8%

Faster asset growth than 26% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Revenue Growth

46th percentile

5.1%

Faster revenue growth than 46% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Assets

Down

$7,271,875

Down $209,793 (-2.8%) from 2023

Liabilities

Down

$154,031

Down $1,773 (-1.1%) from 2023

Net Assets

Down

$7,117,844

Down $208,020 (-2.8%) from 2023

Revenue

Up

$473,206

Up $23,071 (+5.1%) from 2023

Expenses

Up

$681,226

Up $65,312 (+11%) from 2023

Net Income

Down

-$208,020

Down $42,241 (-25%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$10M$5.0M$0Assets 2013: $6,972,792Liabilities 2013: $1,652,112Net Assets 2013: $5,320,6802013Assets 2014: $9,795,926Liabilities 2014: $726,733Net Assets 2014: $9,069,1932014Assets 2015: $8,963,213Liabilities 2015: $77,447Net Assets 2015: $8,885,7662015Assets 2016: $8,794,970Liabilities 2016: $44,902Net Assets 2016: $8,750,0682016Assets 2017: $8,550,754Liabilities 2017: $48,862Net Assets 2017: $8,501,8922017Assets 2018: $8,410,962Liabilities 2018: $74,423Net Assets 2018: $8,336,5392018Assets 2019: $8,182,700Liabilities 2019: $43,779Net Assets 2019: $8,138,9212019Assets 2020: $7,940,617Liabilities 2020: $41,893Net Assets 2020: $7,898,7242020Assets 2021: $7,754,954Liabilities 2021: $59,712Net Assets 2021: $7,695,2422021Assets 2022: $7,678,138Liabilities 2022: $186,495Net Assets 2022: $7,491,6432022Assets 2023: $7,481,668Liabilities 2023: $155,804Net Assets 2023: $7,325,8642023Assets 2024: $7,271,875Liabilities 2024: $154,031Net Assets 2024: $7,117,8442024

Highlighted filing

2024

Assets$7,271,875
Liabilities$154,031
Net Assets$7,117,844

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2013: $5,320,680Expenses 2013: $0Net Income 2013: $5,320,6802013Revenue 2014: $4,355,982Expenses 2014: $607,469Net Income 2014: $3,748,5132014Revenue 2015: $386,124Expenses 2015: $569,551Net Income 2015: -$183,4272015Revenue 2016: $383,052Expenses 2016: $518,750Net Income 2016: -$135,6982016Revenue 2017: $388,081Expenses 2017: $636,257Net Income 2017: -$248,1762017Revenue 2018: $387,232Expenses 2018: $552,585Net Income 2018: -$165,3532018Revenue 2019: $389,707Expenses 2019: $587,325Net Income 2019: -$197,6182019Revenue 2020: $415,113Expenses 2020: $655,310Net Income 2020: -$240,1972020Revenue 2021: $422,924Expenses 2021: $626,406Net Income 2021: -$203,4822021Revenue 2022: $416,956Expenses 2022: $620,555Net Income 2022: -$203,5992022Revenue 2023: $450,135Expenses 2023: $615,914Net Income 2023: -$165,7792023Revenue 2024: $473,206Expenses 2024: $681,226Net Income 2024: -$208,0202024

Highlighted filing

2024

Revenue$473,206
Expenses$681,226
Net Income-$208,020

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Sep 15, 2025
Return Version
2024v5.2
Gross Receipts
$473,206
Mission and Program Overview

Mission

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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$6,896,202$6,673,219▼ $222,983
Savings and Temporary Cash Investments$25,177$279,646▲ $254,469
Accounts Receivable$8,659$5,606▼ $3,053
Cash and Non-Interest-Bearing Accounts$20,965$3,657▼ $17,308
Prepaid Expenses and Deferred Charges-$248-
Total Assets$7,481,668$7,271,875▼ $209,793
Other Assets Total$530,665$309,499▼ $221,166
Liabilities
Other Liabilities$143,505$135,406▼ $8,099
Accounts Payable and Accrued Expenses$11,741$16,837▲ $5,096
Deferred Revenue$558$1,788▲ $1,230
Total Liabilities$155,804$154,031▼ $1,773
Net Assets / Fund Balance
Net Assets With Donor Restrictions$7,860,100$7,860,100→ $0
Net Assets Without Donor Restrictions$-534,236$-742,256▼ $208,020
Total Net Assets Fund Balance$7,325,864$7,117,844▼ $208,020
Total Liabilities and Net Assets / Fund Balance$7,481,668$7,271,875▼ $209,793

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$5,962,021$2,388,205$8,350,226
Land$711,198-$711,198
Equipment$0$167,309$167,309
Compensation and Service Providers

Board Members and Trustees

NameTitle
Melissa DowneyPresident
Eric JohnsonPresident & Executive VP
Cj Simmons-faye JonesDirector
Martha NevanenDirector
Martha SwansonDirector
Saroeun EarmDirector
Shawn PowerDirector
Greg WernerSecretary
Caroline HortonTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Aeon Management LLCManagement Services & Reimbursements901 NORTH 3RD ST 150, Minneapolis, MN 55401$133,189
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$454,363
Investment Income
$18,843
Other Revenue
$0
Change in Net Assets
$-208,020

Audited Revenue Reconciliation

Revenue per Audited Statements
$473,206
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$473,206
Total Revenue per Form 990
$473,206
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$681,226
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$230,237--$230,237
Occupancy$136,268--$136,268
Fees for Services Management-$48,183-$48,183
Insurance$43,191--$43,191
Other Expenses$13,605--$13,605
Fees for Services Accounting-$10,992-$10,992
Office Expenses$8,850--$8,850
Information Technology$4,492--$4,492
Interest$2,341--$2,341
Fees for Services Legal$1,988--$1,988
Advertising$182--$182
Total Functional Expenses$622,051$59,175$0$681,226

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$681,226
Total Expenses per Audited Statements$681,226
Total Expenses per Form 990$681,226
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Finance Lease Liability$112,188
Tenant Security Deposit$23,218
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
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
Yes
Key decisions subject to board approval
Yes
Management duties delegated
Yes

Governance Explanations

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.

Filing and Contact Details

Filer

Filer Name
The Landing Apartments
EIN
45-4914706
Phone
6123413148
Address
901 N 3RD STREET 150, MINNEAPOLIS, MN 55401

Signing Officer

Name
Caroline Horton
Title
Treasurer
Phone
6123413148
Signed
2025-09-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Caroline Horton
Formed
2012
Legal Domicile
Mn
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
7

Preparer

Firm
Baker Tilly Advisory Group Lp
Address
225 S 6TH ST 2300, MINNEAPOLIS, MN 55402
Preparer
Karen a Gries
Phone
6128764500
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

The process has not changed from the prior year.

Financial Statement Notes

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.

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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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IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0TO 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.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt07325864
IRS990/NetAssetsOrFundBalancesEOYAmt07117844
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt0-534236
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt0-742256
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ProgramServicesAmt0136268
IRS990/OccupancyGrp/TotalAmt0136268
IRS990/OfficeExpensesGrp/ProgramServicesAmt08850
IRS990/OfficeExpensesGrp/TotalAmt08850
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0530665
IRS990/OtherAssetsTotalGrp/EOYAmt0309499
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0OPERATING & MAINTENANCE
IRS990/OtherExpensesGrp/Desc1ADMINISTRATIVE
IRS990/OtherExpensesGrp/Desc2TAXES & INSURANCE
IRS990/OtherExpensesGrp/ProgramServicesAmt0133336
IRS990/OtherExpensesGrp/ProgramServicesAmt147561
IRS990/OtherExpensesGrp/ProgramServicesAmt213605
IRS990/OtherExpensesGrp/TotalAmt0133336
IRS990/OtherExpensesGrp/TotalAmt147561
IRS990/OtherExpensesGrp/TotalAmt213605
IRS990/OtherLiabilitiesGrp/BOYAmt0143505
IRS990/OtherLiabilitiesGrp/EOYAmt0135406
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0248
IRS990/PrincipalOfficerNm0CAROLINE HORTON
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0531110
IRS990/ProgramServiceRevenueGrp/BusinessCd1531110
IRS990/ProgramServiceRevenueGrp/BusinessCd2531390
IRS990/ProgramServiceRevenueGrp/Desc0TENANT RENTS
IRS990/ProgramServiceRevenueGrp/Desc1TENANT ASSISTANCE PMTS
IRS990/ProgramServiceRevenueGrp/Desc2LAUNDRY & OTHER INCOME
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0246862
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1201807
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt25694
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0246862
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1201807
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt25694
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt015003
IRS990/PYOtherExpensesAmt0615914
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt0435132
IRS990/PYRevenuesLessExpensesAmt0-165779
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt0615914
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0450135
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-208020
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0454363
IRS990/SavingsAndTempCashInvstGrp/BOYAmt025177
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0279646
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt018843
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt015003
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt01515
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt075
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt0161
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt035597
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0454363
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0435132
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0415441
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0422849
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0414952
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt02142737
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt018843
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt015003
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt01515
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt075
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt0161
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt035597
IRS990ScheduleA/InvestmentIncomeCYPct00.01630
IRS990ScheduleA/InvestmentIncomePYPct00.00870
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.98370
IRS990ScheduleA/PublicSupportPY509Pct00.99130
IRS990ScheduleA/PublicSupportTotal509Amt02142737
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0454363
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0435132
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0415441
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0422849
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0414952
IRS990ScheduleA/Total509Grp/TotalAmt02142737
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0473206
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0450135
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0416956
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0422924
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0415113
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt02178334
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt05962021
IRS990ScheduleD/BuildingsGrp/DepreciationAmt02388205
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt08350226
IRS990ScheduleD/EquipmentGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0167309
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0167309
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0681226
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt0711198
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0711198
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt023218
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1112188
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSIT
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1FINANCE LEASE LIABILITY
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0473206
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ACCOUNTING 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.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt06673219
IRS990ScheduleD/TotalExpensesPerForm990Amt0681226
IRS990ScheduleD/TotalLiabilityAmt0135406
IRS990ScheduleD/TotalRevenuePerForm990Amt0473206
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0473206
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0681226
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0285548
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt1215762
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt022614
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt110563
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0ERIC JOHNSON
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1CAROLINE HORTON
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT & EXECUTIVE VP
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1TREASURER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0308162
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt1226325
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0THE 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
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 3:
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ERIC 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1AEON MANAGEMENT, LLC MANAGES THE PROPERTY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2AEON'S BOARD OF DIRECTORS ELECTS THE BOARD OF DIRECTORS FOR THE LANDING APARTMENTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ANY CHANGES IN THE ARTICLES OF INCORPORATION ARE SUBJECT TO APPROVAL BY THE BOARD OF DIRECTORS AND BY AEON.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5DIRECTORS 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.

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