Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Sep 1991.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
99 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
Something off? Claim to add context
Who runs it and what they're paid
9 people listed on the 990; $534K paid to officers and key staff.
Elizabeth Flannery’s $245K as President and CEO and Chair is at the 62nd percentile of top reported officer pay among 676 $10–100M housing nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
Compensation history total reportable pay by year · 8 named individuals · Part VII
| Name | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Daniel Walsh | — | — | — | $164,000 | $386,654 | $116,527 |
| Elizabeth Flannery | $245,000 | $213,125 | $201,188 | $206,250 | $314,479 | $199,500 |
| Chris Maida | — | — | — | $105,187 | $225,400 | $111,600 |
| Andrew Perry | — | $221,125 | $190,000 | $103,500 | — | — |
| Dan Walsh | $216,700 | $200,833 | $165,600 | — | — | — |
| Lisa Fischer | $211,800 | $187,425 | — | — | — | — |
| Megan Netland | $196,700 | $136,925 | $105,517 | — | — | — |
| Justin Eilers | $191,700 | $176,125 | $149,250 | — | — | — |
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.
See Trellis Co executive salaries →Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2No
- Top official's pay set by an independent reviewPt VI · Ln 15aYes
Programs and updates
Provides quality affordable housing and rental assistance to low- and moderate-income residents by owning and managing multi-unit residential properties across Minnesota.
Questions for Trellis Co
Your first name shows with your question. Trellis Co answers here, for everyone.
Trellis co. Provides quality affordable housing to persons of low and moderate income. Hud section 8 subsidizes the rent provided certain income guidelines are met. The corporation owns 28 properties at december 31, 2020:BOSSEN terrace minneapolis, MN, 66 units (diamond hill)boxleitner minnespolis, MN, 85 units (higher ground)evergreen…
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Federal money
The auditor reported 19 findings: a weakness in money controls, questioned costs.
The auditor reported 1 finding: a weakness in money controls, questioned costs.
Plus 3 smaller programs.
The auditor reported 34 findings: a material weakness in money controls, questioned costs.
Plus 3 smaller programs.
The auditor reported no findings.
By the numbers
The FY2020 990, line by line.
Download 990
| Line | Start FY20 | End FY20 |
|---|---|---|
| Cash and savingsLn 1–2 | $13.7M | $12.6M |
| InvestmentsLn 11–13 | $5.3M | $8.9M |
| Land, buildings, equipmentLn 10c | $72.7M | $77.0M |
| Total assetsLn 16 | $141.4M | $153.1M |
| LiabilitiesLn 26 | $119.9M | $121.6M |
| Net assetsLn 32 | $21.6M | $31.5M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Pay of current officers, directors and key staffLn 5 | $761K | $705K | $55K | |
| Other salaries and wagesLn 7 | $148K | $126K | $22K | |
| Pension plan contributionsLn 8 | $33K | $28K | $5K | |
| Other employee benefitsLn 9 | $28K | $22K | $5K | |
| Payroll taxesLn 10 | $53K | $48K | $5K | |
| Management feesLn 11a | $1.2M | $1.2M | ||
| Legal feesLn 11b | $15K | $15K | ||
| Accounting feesLn 11c | $202K | $119K | $83K | |
| Investment management feesLn 11f | $25K | $25K | ||
| Other fees for servicesLn 11g | $36K | $28K | $7K | |
| Office expensesLn 13 | $138K | $125K | $13K | |
| InterestLn 20 | $1.7M | $1.7M | ||
| Depreciation, depletion and amortizationLn 22 | $4.7M | $4.7M | $720 | |
| InsuranceLn 23 | $819K | $808K | $10K | |
| Other expenses (24a–d)Ln 24 | $11.9M | $11.9M | ||
| All other expensesLn 24e | $1.8M | $1.7M | $59K | |
| Total functional expensesLn 25 | $23.5M | $23.2M | $306K | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 LatestFiled with the IRS Aug 17, 2026 | $36.8M | $25.2M | $11.6M | $102.7M | 990 PDF |
| FY2024Filed with the IRS Jul 24, 2025 | $52.4M | $26.4M | $26.0M | $85.8M | 990 PDF |
| FY2023Filed with the IRS Jul 31, 2024 | $37.0M | $24.0M | $13.0M | $58.9M | 990 PDF |
| FY2022 | $21.9M | $22.6M | −$761K | $44.7M | 990 PDF |
| FY2021Filed with the IRS Aug 31, 2022 | $41.9M | $24.6M | $17.3M | $47.7M | 990 PDF |
| FY2020 ViewingFiled with the IRS Jul 29, 2021 | $33.8M | $23.5M | $10.3M | $31.5M | 990 PDF |
Schedules filed Part IV
See the full FY2020 990 (6 parts)
Part I · Summary $33,802,990 revenue, 12 lines filed
Part VI · Governance 5 of 6 board members independent, no flags
Part VIII · Statement of revenue $33,802,990 across 6 lines filed
Part IX · Statement of functional expenses $23,538,145 across 16 lines filed
Part X · Balance sheet $153,060,672 assets, 16 lines filed
Part XI · Reconciliation of net assets $31,490,375 net assets at year end
Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File
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