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Commonbond Communities EIN 41-1260469

Commonbond Communities

EIN  41-1260469 Public charity (501(c)(3)) Saint Paul, MN Founded 1971
Form 990 (PDF) Compare with another nonprofit →
Verified accurate 7/9/26 · see original filing: IRS
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Size
$10–100M
What they do
Builds affordable housing and provides community support services to help residents achieve stable homes, strong futures, and vibrant neighborhoods.
Leadership
Deidre Schmidt · President & CEO · $298K
Money in and out
$48.9M revenue, $34.1M expenses
Bottom line
88% program efficiency

Builds affordable housing and provides community support services to help residents achieve stable homes, strong futures, and vibrant neighborhoods. For fiscal year 2025 it reported $48.9M in revenue, $34.1M in expenses, and $134.5M in net assets.Pt I

Where the money goes · FY2025
Total revenue
$48.9M
Pt VIII · Ln 12
Total expenses
$34.1M
Pt IX · Ln 25
Net assets
$134.5M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $14.8M
Where spending went · Part IX cols B–D
Program services $0.88 Management & general $0.07 Fundraising $0.05
Program efficiency
88%
of spending reaches programs▼ -4% vs prior filing year
Operating runway
6.8mo
months of highly liquid reserves at operating expense rate▲ +11% vs prior filing year
Surplus margin
+30%
revenue over expenses, this year▲ +11% vs prior filing year

Summary of the Filing

Part I · fiscal year 2025 · Form 990
Revenue
$48.9M
FY2025▼ -7%
Expenses
$34.1M
FY2025▼ -10%
Total assets
$204.1M
FY2025▼ -4%
Total liabilities
$69.6M
FY2025▼ -34%
Total revenue
$48.9M
Pt VIII · Ln 12
Total expenses
$34.1M
Pt IX · Ln 25
Net assets
$134.5M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$14.8M
Total assetsPt X · Ln 16$204.1M
Program-expense ratioPt IX · col B88%
Voting members of governing bodyPt I · Ln 315
Independent voting membersPt I · Ln 414
Mission & Programs · Part III

Where the work happens

3 program services account for $29.9M of program spending, described in the organization's own filed words · FY2025.
01

Housing Development, Property Management and Asset Management

Since 1971, commonbond communities has been providing homes and hope for those most in need in our community. As a premier nonprofit developer and owner of affordable housing, commonbond is best positioned to address the critical need for more affordable housing in our region.

$23.1Mprogram expense
02

Commonbond prioritizes designing and delivering services in partnership with residents. The approach is grounded in listening, informed by lived experience, and shaped around residents' priorities with a focus on housing stability and eviction prevention.

$6.7Mprogram expense
03

Community Engagement

Integral to our work are the relationships that are formed to benefit our resident community and our housing communities in general. Community members work hand-in-hand with staff and residents at our housing communities.

$131Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CCommonbond Communities
EINHdr · item D41-1260469
Principal addressHdr · item CSaint Paul, MN
WebsiteHdr · item Jwww.commonbond.org
Year of formationHdr · item L1971
State of legal domicileHdr · item MMN
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFNonprofit
Ruling yearIRS BMFJan 1976

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a15
Independent voting membersPt VI · Ln 1b14
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Deidre Schmidt
President & CEO
$298,332Pt VII · Sec A
Heidi Rathmann
Interim VP of A&d
$187,225Pt VII · Sec A
Jennifer Anderson
Cheif Financial Officer
$95,290Pt VII · Sec A
Karen Law
Executive VP of Talent Equity, Culture
$72,708Pt VII · Sec A
Mohamed Omar
Treasurer
$0Pt VII · Sec A
Jamal Adam
Director
$0Pt VII · Sec A
Adam Bernier
Director
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 6 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Deidre Schmidt$298,332$297,141$297,474$296,586$282,058$264,782
Heidi Rathmann$187,225$171,322————
Derek Madsen———$104,280$163,493$169,570
Tamara Fallon—————$108,858
Jennifer Anderson$95,290—————
Karen Law$72,708—————

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Statement of Revenue

Part VIII
Contributions & grants$19.4M · 40%
Program service revenue$19.0M · 39%
Investment income$7.7M · 16%
Other revenue$2.8M · 6%
Contributions & grants40%$19.4M
Program service revenue39%$19.0M
Investment income16%$7.7M
Other revenue6%$2.8M
— government grantsLn 1e$9.3M
Total revenueLn 12$48.9M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.88 Management & general $0.07 Fundraising $0.05
Program services88%$29.9M
Management & general7%$2.6M
Fundraising5%$1.6M
Total functional expensesLn 25$34.1M

Balance Sheet

Part X · end of year
CashLn 1$19.2M
Total assetsLn 16$204.1M
Total liabilitiesLn 26$69.6M
Total net assetsLn 32$134.5M
Months of cash on handcomputed6.8

Financial Metrics

Form 990 · FY2025 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $19.2M · Operating expenses (Pt IX) $34.1M · Less non-cash grants $132K · Cash operating expenses/yr $33.9M
6.8 months
Where the money goes
Program services
Program services $29.9M · Total expenses $34.1M
88%
Management & General
Management & general $2.6M · Total expenses $34.1M
7%
Fundraising
Fundraising $1.6M · Total expenses $34.1M
5%
Cost to raise $1
Fundraising expense (3-yr avg) $1.7M · Solicited contributions (3-yr avg) $12.3M
$0.13 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $19.4M · Total revenue $48.9M
40%
Government reliance
Government grants $9.3M · Total revenue $48.9M
19%
Earned-income share
Program service revenue $19.0M · Total revenue $48.9M
39%
Investment reliance
Investment income $7.7M · Total revenue $48.9M
+16%
Program self-sufficiency
Program service revenue $19.0M · Total expenses $34.1M
56%
Growth & trend
Revenue growth (YoY)
This year $48.9M · Prior year $52.4M
-7%
Revenue CAGR
FY2020 $26.3M · FY2025 $48.9M
+13%
Net-asset trend (YoY)
End of year $134.5M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $48.9M · Expenses $34.1M
+30%
Liabilities-to-Assets
Total liabilities — · Total assets $204.1M
—
Net-asset ratio
Net assets $134.5M · Total assets $204.1M
66%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $204.1M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Deidre Schmidt · Reported title PRESIDENT & CEO · Highest reported compensation $298K · Total expenses $34.1M
1%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $9.3M · Total expenses $34.1M
27%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 88%——
Overhead ratio 7%——
Fundraising cost ratio 8%——
Revenue growth -7%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2025
Metropolitan Area Agency on Aging INCFY2025$19K
Total grants receivedfrom 1 funder$19K

Similar Organizations

Closest in mission — by what they do
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Community Development Coalition CorporationFL
Help Community Development CorporationFL
C R ProjectCA
Metropolitan Consortium of Community DevelopersMN
Loaves and Fishes Housing INCMN
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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025 (Latest)$48.9M revenue · viewing · ⤓ 990 PDF
FY2024$52.4M revenue · ⤓ 990 PDF
FY2023$30.1M revenue · ⤓ 990 PDF
FY2022$26.7M revenue · ⤓ 990 PDF
FY2021$28.1M revenue · ⤓ 990 PDF
FY2020$26.3M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2025IRS
Classification, formation year, addressIRS Business Master File
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