2018

Annual Report

commonbond.org

Stable homes. Strong futures. Vibrant communities.

Our 2018 Impact

Building affordable homes and thriving communitiesAs a premier nonprofit developer and manager of affordable housing, we are best positioned to address the critical need for more affordable housing in our region. With a resident-focused mission, we develop, own, or manage more than 7,000 affordable rental homes and townhomes throughout 50+ cities in three states. More than 12,800 people in urban, suburban, and rural neighborhoods call a CommonBond community home. Residents include families, veterans, seniors, and youth—more than 3,600 CommonBond residents are children.

Education and Advancement

56% of students behind grade level made more than one year’s worth of progress in reading

100% of high school seniors that participated in our programming graduated from high school or completed their specialized education program

251 job placements were made for adults

Advantage Services support residents in achieving their goalsHere at CommonBond, Advantage Services are a critical part of our housing and services approach. This wide array of life-changing programs and services demonstrates time and time again that, given the right support and opportunities, every person can thrive.

From Study Buddies and teen programming, to support for veterans and wellness programs for seniors, our Advantage Services are tailored to the strengths and challenges of each housing community. Our goal through Advantage Services is to support residents in meeting their goals tied to:

Health and Wellness

600 residents participated in one or more Health & Wellness sessions during the year

Stability and Independence

767 evictions were prevented

82% of formerly homeless residents maintained housing for a year or more

Community Building and Engagement

833 individuals took active leadership roles in their communities

95 doors were opened for

residents in Minnesota and Iowa across 2

properties.

647 homes began receiving the

support that accompanies our property management

model

552 units came under

CommonBond’s resident-focused

property management

2018 Board of Directors

Executive LeadershipDeidre Schmidt, President & CEOCecile Bedor, Executive Vice President of Real

EstateJoe’Mar Hooper, Wisconsin Market LeaderDerek Madsen, Executive Vice President of

Resource DevelopmentKevin Myren, CFO & Vice President of

AdministrationLisa Wilcox-Erhardt, Vice President of Housing &

Services

Executive CommitteeKyle Hansen, Executive Vice President, U.S. Bank,

ChairCarleen Rhodes, Special Advisor, Impact Investing,

O’Brien-Staley Partners, Vice ChairDeidre Schmidt, President & CEO, CommonBond

Communities, PresidentTom Joyce, University of St. Thomas, SecretaryVicki Duncomb, TreasurerMark Scholtes, Partner, PricewaterhouseCoopers,

LLPRichard Wicka, Principal (Retired), MedCraft

Healthcare Real Estate

DirectorsJamal Adam, Achievement Specialist, Wayzata High

SchoolChanda Smith Baker, SVP of Community Impact,

The Minneapolis FoundationMargaret Belanger, CSJ, Carondelet VillageMary Bennett, First Vice President, Morgan Stanley

Wealth ManagementAdam Bernier, Chief Operating Officer, O’Brien-

Staley PartnersDana S. Cottrell, Team Lead, Xcel EnergyChris Gallagher, Design Principal, Eppstein Uhen

ArchitectsEdward Goetz, Director of the Center for Urban

and Regional Affairs, University of MinnesotaBrad W. Hoffelt, Chief Financial Officer—Payments

Group, U.S. BankR. Patricia (Trish) Kelly, EVP, Head of Commercial

Banking, TCF BankWade C. Lau, President & CEO, Founders

Properties, LLCLakeisha Lee, Mobile Case Manager, The LinkMegan Remark, President & CEO, Regions HospitalSr. Carol Rennie, OSB, Spiritual Director,

Benedictine Center of St. Paul’s MonasterySean Rice, VP Finance, Institutional North America,

EcolabMatt Schriner, Senior Vice President, Bremer BankJohn Schwab, Partner in Charge, Construction and

Real Estate, WIPFLiMark Springett, AVP, Enterprise Business

Intelligence, Allianz Life Insurance Company of North America

Eva Stevens, President (Retired), United PropertiesMichelle Walker, Executive Director, Generation

NextHamse Warfa, Principal, Tayo Consulting Group

+ =

I became alive after I moved to Kingsley

Commons—I believe the environment

I came into sparked a change within

me. In addition to having an accessible

living space within a wonderful

community, the services provided by

CommonBond’s Advantage Services

have created an environment of hope,

safety, support, and much more.

But life hasn’t always been this way.

There are many people who are

affected by early childhood trauma,

spousal abuse, and numerous other

inflictions. As victims of violence, we

learn ways to absorb the pain and seek

out ways to escape it.

I became a young wife and mother

of four children, all within five years.

I supported my husband and kids by

quilting, mending, and driving school

bus. After a divorce, I loaded up my

little green Nova, my children, and my

sewing machine, and we landed in

St. Paul, MN. I went on to experience

considerable success as an executive

chef, a special education teacher, and

later a warehouse manager.

But life also took many detours. My

oldest son was critically wounded in

Iraq in 2007—he lost his legs, but did

survive. In January 2009, my second

son died of colon cancer at just 30

years old.

Then, in February 2009, I was

hospitalized as someone who could

walk, and was discharged several

months later a paraplegic. A spinal

injury that also affected parts of the

brain and a neurological disorder made

this inability to walk larger than life. I

was angry, and it was a very dark time.

I moved to Kingsley Commons in the

winter of 2012. I experienced what I

believe is a miracle shortly thereafter.

Having little experience living drug-

and alcohol-free, I knew I would need

support to leave behind my addictions.

I was ready! When I arrived, I was just

happy to have an accessible living

space. But I believe the environment I

came into started a change within me.

Ultimately, I realized if I was going to

live, I was going to have to thrive.

I’ve been the Resident Council President

for over six years at Kingsley Commons,

which has truly been an honor. I also

love the gardens at Kingsley—and I’ve

received grants to expand the gardens

and programming, and to engage other

residents in these efforts.

The focus on community building and

engagement sparked a fire in me. Truly

connecting—that’s what embracing

community is really all about. And

I’ve found that in my CommonBond

community.

COMMUNITY MATTERS

Meet CommonBond Resident, Meg

Truly connecting—that’s what embracing community is really all about.

“

Crestwood RidgeWe were also excited to bring Crestwood Ridge Apartments to the community of Cedar Rapids. This housing community has 45 homes, including five for families moving out of homelessness. While we faced considerable opposition to this development from some neighbors, we were buoyed by the support of many advocates and other neighbors who understood the value and supported this important affordable housing resource.

Dublin CrossingCommonBond celebrated opening its first affordable housing community in Mankato in 2018. Dublin Crossing is a 50-unit new construction development that numerous families and individuals—including people with disabilities and households moving out of homelessness—now call home.

It’s really about providing people

who do good and necessary jobs

in Mankato with a place they can

afford to live in a good location.

—Deidre Schmidt President & CEO

CommonBond Communities

“

2018 Financials

commonbond.org

COMMONBOND & HOUSING RELATED ENTITIES COMMUNITIES

Support & Revenue Contributions 4,731 830 Government Grants 926 594 Fees for Service 9,563 - Rental Income 62 59,596 Investment Earnings & Miscellaneous 2,592 239 TOTAL SUPPORT & REVENUE 17,874 61,619

Expenses & Other Items Program Services 12,892 78,417 Supporting Services 3,466 - Other (Income)/Expenses (139) 545 Non-Controlling Interest - (15,657) TOTAL EXPENSES 16,219 63,305 CHANGE IN NET ASSETS 1,655 (1,686)

Assets Cash & Cash Equivalents 12,721 16,253 Accounts & Notes Receivables - Net 28,751 2,749 Prepaid Expenses & Deferred Charges 156 1,511 Restricted Reserves 7,113 31.073 Investments in Partnerships 21,550 3,032 Endowed Assets 10,198 - Property & Equipment - Net 6.948 542,534 TOTAL ASSETS 87,437 597,152

Liabilities & Net Assets Accounts Payable & Accrued Expenses 2,603 57,659 Notes Payable 15,855 358,785 TOTAL LIABILITIES 18,458 416,444 NET ASSETS 68,979 180,708 TOTAL LIABILITIES & NET ASSETS 87,437 597,152

In thousands of dollars

This financial statement reflects CommonBond’s nonprofit entity (left) as well as CommonBond’s combined real estate holdings (right).