Aeon

Mission Statement

Aeon’s mission is to create and sustain quality affordable homes that strengthen lives and communities. Our vision is that every person has a home and is interconnected within community.

Impact and Programs

Accomplishments Goal 1 status: In October 2015, we completed construction on South Quarter IV – The Rose (90 units of new construction) and Pine Cliff (30 preservation units). We also acquired Parkview Villa in September of 2015 and preservation/renovation activities are underway and nearly complete. We also completed preservation work on our Minneapolis Portfolio Preservation Project (MP3) in December 2015. This project included 582 apartment homes at 10 of Aeon’s oldest properties. In January 2016, we acquired Como by the Lake – 99 apartment homes (57 are project based Section 8) in St. Paul. Through this acquisition we were able to preserve affordability for residents. Goal 2 status: In 2015, Resident Connections (1) connected 450 unduplicated residents to community resources (achieved through 2,745 contacts), (2) supported 76 residents to volunteer, (3) hosted community events attended by 520 unduplicated residents, and (4) implemented Personal Empowerment Training through our partner, Twin Cities Rise!. Furthermore, 78% or residents at properties served by Resident Connections maintained their housing for at least one year, 77% of residents leaving properties served by Resident Connections exited under neutral or positive circumstances, and 50% of households served by Resident Connections participated in one or more community building activities. Goal 3 status: 81% of properties achieved a net cash flow of greater than or equal to 5% of their revenues and our portfolio wide net cash flow equaled 13.87% of revenue. While we would like a higher percentage of properties to achieve this 5% net cash flow benchmark, we exceeded our portfolio wide net cash flow goal of 12% of revenue. Regarding the physical condition of properties, 84% graded physically better than “C” (received an “A” or “B” grade. Goal 4 status: In 2015 we worked to hold more Building Dreams Tours (informational sessions and an introduction to Aeon’s work) with more attendees than previous years. We have been working to continue to engage attendees throughout the year through volunteer opportunities, donation requests, and an invitation to our annual fundraising event, Beyond Bricks & Mortar. Through these efforts, our 2016 event raised more than $525,000 in general operating funds from individuals – a $70,000 increase over 2015.
Current Goals As an organization, our main goal is to continue and increase our robust pace of production and preservation of quality, affordable homes serving those most in need who experience the greatest barriers to achieving housing stability. To achieve this goal, we have identified and measure progress toward the following objectives: -Acquire 150 new units -Construct 16 new units -Preserve (through rehab) 117 units we currently own, which provides apartments and supportive services for formerly homeless residents -At least half of Aeon’s affordable units will be affordable to individuals and families earning 30% of the area median income The overall goal of the Resident Connections program is to connect residents to supports that increase housing stability and community engagement. To achieve this goal, we have identified and measure progress toward the following objectives: -85% of residents will maintain housing for one year or more. -Of residents who attend at least one community event, 65% will increase their engagement and participate in two or more community events. -Of residents who participate in at least one leadership activity (including volunteering activities), 60% will increase their engagement and participate in two or more leadership activities. -80% of Personal Empowerment Training (PET) participants will increase implementation of self-sufficiency skills, including self-awareness, self-regulation, awareness of others, and relationship management skills in their daily lives from pre-test to post-test.
Community or Constituency Served Under Aeon's new strategic plan, we focus our work on serving individuals and families who experience the greatest barriers to achieving housing stability (e.g. earning household incomes below 30% area median income).
Geographic Area Served Minnesota - Aeon currently has properties in Minneapolis, St. Paul, Roseville, Chaska, Brooklyn Center, Columbia Heights, and Maplewood.

Reports & Finances

If you have additional questions regarding a nonprofit's financials, visit their webiste, or call and ask to review their IRS Form 990, Annual Report, or Audit for a more complete picture of their financial story.
3 Year Average Expenses
Program Services
$16,638,660
91.9%
Management
$692,442
3.8%
Fundraising
$777,337
4.3%
Unrestricted Net Assets
End of Year:
Beginning of Year:
Difference:
2015
$-8,551,318
$-5,099,474
($3,451,844)
2014
$-5,099,474
$-6,026,237
$926,763
2013
$-6,026,237
$-6,179,317
$153,080
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Connect

Address:
901 N. 3rd Street
Minneapolis, MN 55401
Phone: 612-341-3148
Website: aeonmn.org

General Information

Alternative Name: Aeon Management Central Community Housing Trust (former)
EIN: 41-1558711
Principal Staff: Alan Arthur
Number of Full-Time Equivalents (FTE): 115
Volunteers: 1,101
Number of Clients: 4,690

Board

Board Chair: Kirstin Fischer Rosel
Number of Board Members: 18
Board Meetings with Quorum: 5
Average Member Attendance: 12.6

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Let’s Connect

700 Raymond Avenue, Suite 160 • Saint Paul, MN 55114
Phone: (651) 224–7030 • E-mail: info@smartgivers.org

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