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Stable Homes. Strong Futures. Vibrant Communities.

2016 Impact Report

Resident Spotlight Tiffani and her daughter Emma were some of the first residents of CommonBond’s newest housing community, Sunwood Village, which opened in Ramsey, Minnesota in August 2016 (see photos at right). Before living at Sunwood Village, Tiffani and Emma were


couch-hopping and doubling up with friends and family. Tiffani had difficulty finding an apartment she could afford. Most places disqualified her application because of an eviction, which was the result of a job loss that led to her inability to pay the rent. Tiffani was excited to move into Sunwood Village because she wanted a stable home for her daughter. She enjoys living at Sunwood Village because it’s quiet and calm, and she loves having a safe place to call home. Research indicates that a stable home is critical

“I see a change in my daughter—she seems less irritable and sad since being able to come home to the same place every day.”

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to school success. Tiffani also finds great happiness in being able to have all of their belongings in one place — the stress of living out of boxes and bags was tremendous. Tiffani says, “I see a change in my daughter—she seems less irritable and sad since being able to come home to the same place every day.”


FROM THE CEO AND BOARD CHAIR CommonBond Communities had a busy and exciting year in 2016. In partnership with residents, community partners, and donors, we changed lives, improved homes, and expanded opportunities. Here are just a few of the highlights: • Changing lives. CommonBond provides Advantage Services to youth, adults, and seniors so they can succeed in school, work, and life. Participants in our Adult Education and Advancement programs work with CommonBond staff to find the best job they can attain and manage their money more wisely. In 2016, the incomes of residents in the program increased an average of over $1,000 per month. • Improving homes. CommonBond has worked in the community for 46 years, and our rental homes need reinvestment to remain great places to live in — and to live near. This year we completed the $136 million rehabilitation of nearly 850 homes for existing residents. • Expanding opportunities. CommonBond is committed to fulfilling its mission regardless of the ebb and flow of government resources. In 2016, we preserved our first affordable housing development without government subsidy, and we have several more in the works. We also launched an investment option for individuals like you — to make an investment that allows for both a financial return and a difference in our communities. We look forward to even more positive results in the years to come. Thank you for your support — it’s critical to our success and that of more than 10,000 CommonBond residents every year.

Deidre Schmidt, CEO and Ed Padilla, Board Chair ||33

YEAR IN REVIEW: REAL ESTATE CommonBond is the Upper Midwest’s largest nonprofit provider of affordable housing with services, serving the region for more than 46 years. We develop, own, or manage more than 5,700 affordable rental apartments and townhomes throughout 50 cities in 3 states. More than 10,000 people – families, youth, veterans, and older adults – call a CommonBond community home. More than 2,600 of

CommonBond made significant renovations to the Seward Towers in Minneapolis in 2016. The goal was to make the properties more welcoming, environmentally friendly, and safe for residents – and to preserve the buildings for the longterm. Throughout construction, residents had to move out of their apartments to accommodate the upgrades. Sandy Myers, a resident of Seward Tower West, shared his experience with the renovation process:

these individuals are children. “When the construction started, it was hard for me

$136 million in real estate

since I have good days and

development in 2016

bad days with pain. It was

$50.1 million in private dollars

move my belongings and

so helpful to have a crew take care of the whole


move to the temporary place. I’m thrilled to be back in my

843 units preserved in 6 properties

morning it’s a blessing to wake up in this place. My remodeled apartment feels like a Christmas

CommonBond Portfolio

present and New Year’s all wrapped up in one!”


15% 36%

renovated apartment. Every



“I feel so happy here. . . . even on the days when I have pain, I still feel


grateful and thrilled to be here! Everything is new – doors, cabinets,


Family Older Adults Special Needs

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stove, fridge – and I don’t hear any freeway traffic even though I live


right off I-94! It’s a lovely place and I treat it like that – I like to keep my floors clean and shining because I care about this place. I wouldn’t give up this home up for anything!”

YEAR IN REVIEW: HOUSING AND SERVICES We believe a home is the foundation upon which we all build a productive life. CommonBond’s holistic approach – housing with supportive services – changes lives and helps strengthen families and communities.


After going back and forth between experiencing homelessness and living with family members, Tricia was thrilled to move into a CommonBond housing community in Woodbury. When asked to describe what home means to her, she said, “It’s a place where I feel safe and comfortable, and I can be a family with my girls and not have a worry.” That absolutely describes her new life in Woodbury.

“I almost didn’t believe it…this is actually mine! And it’s wonderful!” Like others transitioning from long-term homelessness, Tricia has extra support from CommonBond through an onsite Advantage Services Coordinator, who helps Tricia and her family, from support finding a job to help locating a doctor for her daughters. Tricia shares a sincere message of appreciation for those who



100% of high school seniors in teen programs graduated from high school (compared to 60-70% for local school districts).

371 evictions prevented.

Participants who worked with employment coaches achieved income increases averaging more than $1,000 per month.


90% of formerly homeless residents in supportive housing maintained housing for a year or more. COMMUNITY BUILDING AND ENGAGEMENT 2,948 residents participated in community events.

We entered into three new formal partnerships that support health and wellness outcomes.

1,190 residents held active leadership roles in their communities.

60% of participants in our exercise classes maintained or improved their strength and coordination during the course of the year.

87% of residents reported that living in a CommonBond community helped them pursue their hopes and dreams.

have supported her in her journey towards stability: “Thank you to CommonBond and to the donors for your support…you are amazing and you’ve really helped change my life around.” | 5

PRESERVING AFFORDABLE HOUSING FOR OUR REGION’S WORKFORCE In July 2016, CommonBond purchased Boulder Ridge, a townhome and apartment community in Apple Valley, Minnesota. This acquisition preserved affordable rents for the 112 families and individuals who call this community home. It was the first such acquisition of many to come in CommonBond’s strategic effort to counter the

A NEW WAY TO FINANCE AFFORDABLE HOUSING The purchase of Boulder Ridge was possible thanks to socially-minded investors who partnered with CommonBond to preserve affordable housing that doesn’t rely on government subsidies.

loss of naturally occurring affordable housing (NOAH) options. Investors — locally and

This is an important complement to CommonBond’s

nationwide — are rapidly buying modest properties and adding luxury amenities in

typical work that uses government subsidy programs.

order to substantially raise rents. Each time one of these acquisitions occurs, our region

CommonBond will continue to pursue these

loses scarce housing opportunities.


Boulder Ridge is also the first property sale in which CommonBond partnered with socially-minded investors to preserve affordability in housing without government subsidies and regulation (see sidebar at right).

Want to join others who are investing in a way that acknowledges social impact? Learn more about the CommonBond Housing Opportunity Fund, which features preservation projects that provide both social impact and financial return, by

Under CommonBond’s ownership and management, Boulder Ridge will remain

contacting Ann Ruff, Executive Vice President of

affordable for people such as those who work as childcare providers, maintenance

Resource Development, at 651-290-6234. Or visit

technicians, teachers, and retail workers, as well as recent college graduates with for more

moderate incomes. Boulder Ridge’s location in a vibrant suburb presents opportunity

information about this new opportunity.

and access for all. It’s in a quality school district, has plenty of nearby green space and parks, and offers excellent access to public transportation and highways – allowing for better access to jobs. With the scarcity of affordable housing in our communities, preserving what exists is vital to achieving CommonBond’s vision of creating dignified homes that support independence and success for all.

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2016 FINANCIALS ACTIVITIES SUPPORT AND REVENUE Contributions Government Grants Fees for Service Rental Income Investment Earnings & Miscellaneous TOTAL SUPPORT & REVENUE EXPENSES Program Services Supporting Services Fundraising Other Income/Expense Non-Controlling Interest TOTAL EXPENSES






3,505 2,592 9,770 38 3,954 19,859 10,437 1,185 1,721 12 0 13,355


19,537 5,337 21,762 48 343 16,846 9,392 4,777




1 1,277 2 51,436 311 53,027 66,448 0 0 (6,007) (10,065) 50,376



Cash & Cash Equivalents Receivables - Net Notes Receivable Prepaid Expenses & Deferred Charges Restricted Reserves Investments in Partnerships Endowed Assets Property & Equipment - Net


LIABILITIES Accounts Payable & Accrued Expenses Deferred Grants Notes Payable TOTAL LIABILITIES NET ASSETS



$ $


11,537 1,717 912 1,613 65,335 3,059 511,224



1,729 0 15,092 16,821 61,221

50,818 10,804 361,496 423,118 172,279


595,397 | 7

Children who live in a CommonBond community drew this artwork, which reflects their feelings about “Home.”

“Supporting efforts to make safe and affordable housing available to all continues to be a high priority for us. CommonBond Communities not only creates safe and affordable housing, but also focuses on empowering the individuals and families they serve. Their programs help people of all ages and abilities reach their full potential, including seniors with disabilities, youth, teens, and families. As donors, it is encouraging to witness the amazing and dedicated staff at CommonBond. We are grateful for the opportunity to support our sisters and brothers in need through your efforts. In addition to our ongoing annual support, we have included CommonBond in our estate planning.” Tom and Susan McGuire

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Mangala Sharma, a services coordinator at CommonBond’s Skyline Tower in St. Paul, received a Conservation and Leadership Award from The Trust for Public Land. The award honors and celebrates the work she has done in engaging with residents around green space.

Residents at Seward Towers gathered with their neighbors during National Night Out.

Youth at a CommonBond housing community in Minnetonka learned about the importance of higher learning as part of a program, “CommonBond Kids are College-Bound.” They celebrated the culmination with a visit from Goldy Gopher.

Landscaping at St. Anne’s in Minneapolis was transformed, thanks to a grant from the Minneapolis Area Association of REALTORS® (MAAR) Foundation and their dedicated volunteers.

Teen residents at Skyline Tower in St. Paul grew leadership skills—and tons of vegetables—last summer!

Golfers hit the links to support the Birdies for Hope golf tournament, which helps provide comprehensive, year-round programming for youth in CommonBond communities. | 9

Our Mission CommonBond builds stable homes, strong futures, and vibrant communities.

Our Vision Every person has a dignified, affordable home that supports independence and advancement within a flourishing community.

Our Values Respect: We believe dignity, gratitude, and inclusiveness for all people are the foundation of our mission. Integrity: We believe in taking responsibility for our actions and we are honest, transparent, and ethical in all aspects of our work. Partnership: We believe diverse and strategic collaborations with others will maximize our impact with residents and communities. Innovation: We believe in being a nimble, learning organization that resolves challenges through creative solutions. Excellence: We believe in setting a high standard for quality, professionalism, and competence. 10 | CommonBond Communities

“Renovation Systems has always been a big believer in giving back and supporting nonprofit partners and our community. For years we have been proud supporters of CommonBond Communities. Three things drive this: the people that lead CommonBond, the people that work for CommonBond, and those that live in CommonBond communities. I had the opportunity meet a CommonBond resident, Johnny, who is an immigrant from Bosnia. I was amazed by his gratitude for his home and how CommonBond has helped him and his wife live a fuller life. He was so appreciative for the new kitchen that he offered an open invitation for me and my family to come to his home for dinner! Seeing firsthand and hearing the stories of the people that call a CommonBond community “home” has reinforced our belief that supporting CommonBond is the most streamlined path to helping people live better lives.” Ryan Comer CEO, Renovation Systems


Chief Executive Officer NorthMarq Capital

PRESIDENT Deidre Schmidt*

President & CEO CommonBond Communities

VICE CHAIR Kyle Hansen*

Executive Vice President Commercial Real Estate Group U.S. Bank

Steven T. Chávez*

Consulting Corporate Attorney Council Member, District 15 Metropolitan Council

Dana S. Cottrell*

Special Advisor Impact Investing O’Brien – Staley Partners

DIRECTORS Margaret Belanger, CSJ* Carondelet Village

Mary Bennett*

First Vice President, Morgan Stanley Wealth Management

President & CEO Founders Properties, LLC Commissioner of MHFA (retired)

Director Center for Urban and Regional Affairs University of Minnesota

Richard Wicka*

Jim Urbanek*

Brad W. Hoffelt*


Todd Eatmon*

CHAIR Mark Rauenhorst*

Jessie Hendel*

Edward Goetz*

Chief Financial Officer – Payments Group, U.S. Bank

Paul J. Jungquist

Vice President – Portfolio Manager Sit Investment Associates

James A. Kump*

Carleen Rhodes*

Wade C. Lau*

Jim Solem*

TREASURER Vicki Duncomb* President, Marren Properties

George Lang*

Principal, Tayo Consulting Group


Mark Rauenhorst*

AVP, Enterprise Business Intelligence Finance Department Allianz Life Insurance Company of North America

Hamse Warfa*

Team Lead, Xcel Energy

Allyson Knudsen*

University of St. Thomas

Mark Springett*

Executive Vice President Credit Strategy and Operations, Stearns Lending Vice President – Investment Operations, Travelers

Wade C. Lau*

President & CEO Founders Properties, LLC

Sr. Carol Rennie, OSB*

Spiritual Director Benedictine Center of St. Paul’s Monastery

Mark Scholtes*

Partner PricewaterhouseCoopers LLP

John Schwab*

Partner in Charge, Construction and Real Estate, WIPFLi, LLC

Principal, MedCraft Healthcare Real Estate

President, Marren Properties

PRESIDENT Deidre Schmidt*

President & CEO CommonBond Communities

VICE CHAIR Richard Wicka*

EVP, TCF Financial Corporation (retired)

KEY STAFF Vice President of Property Management Vice President of Advantage Services

Ellen Higgins

Vice President of Business Development

Kevin Myren*

Chief Financial Officer & Vice President of Administration

Ann Ruff*

Principal, MedCraft Healthcare Real Estate

Executive Vice President of Resource Development

SECRETARY Kevin Myren*

Deidre Schmidt*

Chief Financial Officer & Vice President of Administration CommonBond Communities

President & CEO

Thomas Stanberry*

Executive Vice President of Real Estate

Bernadette Hornig*

Lisa Wilcox-Erhardt*

Portfolio Manager Hornig Companies

Executive Vice President of Housing and Services

Freddie Houston* Director, Performance Property

*CommonBond Board member or staff at time of publication.

Management Company Artspace | 11




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651-291-1750 |




Housing Communities

CommonBond Communities 2016 Impact Report  
CommonBond Communities 2016 Impact Report