Partnership in Property Commercial Land Trust

“Ben Dossman is a PIPCLT business partner (lease-to-own agreement with PIPCLT) and leases office space from PIPCLT at 1819 Lowry Ave N. Edwardo Rikprashad owns a General Contracting firm, Intact, and had an agreement to do construction on 19 E 26th St, a property PIPCLT purchased from the City of Minneapolis. However, he resigned from the board mid-year for health reasons. Arthur Martin is also the Executive Assistant to Domonique Jones at PIPCLT so he was not allowed to vote on any matters that directly impacted him or his working relationship to PIPCLT (e.g. he was not involved in closed board discussion around Executive Director evaluation and vote on her annual bonus) All board members signed Conflict of Interest Disclosure forms, so these relationships were disclosed to the full board and any board members/officers must abstain from voting if any business arises that would be a conflict of interest with these relationships.”

“Upon request (typically email) by any current or potential funders, CDFIs, banks, lenders, government entities, municipalities, counties, etc.”

“Schedule R, Part III ??? Related Organization Taxable as a Partnership (PIP Holdings LLC) PIP Holdings LLC is a Minnesota limited-liability company engaged in commercial real-estate acquisition and management activities that further the charitable purposes of Partnership in Property Commercial Land Trust (PIPCLT). Under a Fiscal Sponsorship Agreement effective September 18 2025, PIPCLT provides oversight, accounting, and compliance services and retains full discretion and control (variance power) over charitable funds raised for the project. The LLC is legally owned by its executive director but functions as a fiscally sponsored project of PIPCLT. All sponsored revenues and expenditures are reported in PIPCLT???s financial statements. Schedule R, Part V ??? Transactions With Related Organizations (PIP Holdings LLC) During 2025 PIPCLT served as fiscal sponsor for PIP Holdings LLC. All charitable revenues and grants raised on behalf of the project were deposited into PIPCLT???s accounts and expended for program purposes consistent with its mission to preserve affordable commercial spaces. PIPCLT retained a 10 percent administrative fee (minimum $250 per month) for administrative, accounting, and compliance services. Staff time and office resources were shared under this arrangement. In 2025 PIP Holdings LLC purchased a commercial building in its own name due to lender restrictions on nonprofit borrowers; PIPCLT maintains programmatic oversight to ensure the property???s use furthers its charitable mission. All transactions were approved by PIPCLT???s Board, with the interested party recused. No loans, guarantees, or asset transfers occurred between entities.”