About Us
Mission
Alliance’s work makes it possible for individuals and families to create homes for themselves, regardless of income and background by developing and managing housing that is:
• inclusive,
• affordable,
• relational, and
• flexible.
In addition, Alliance Housing challenges the environment that limits our residents’ opportunities.
History
Alliance Housing was born out of the vision of St. Stephens’ emergency shelter staff and residents who wanted to create tangible, long term housing solutions for homeless families and individuals. The organization was incorporated in 1991 and took advantage of vacant and available properties at low cost in South Minneapolis. Alliance continues to honor its history by developing housing solutions for homeless, low income, and other individuals left out of market opportunities.
Finances
Statement of Activities & Changes in Net Assets
For the 12 months ending June 30, 2024
Support and revenue:
| Rental revenue | $3,026,166 |
| Government Grants | $1,091,935 |
| Partnership Management Fees | $876,405 |
| Contributions | $353,778 |
| Miscellaneous income | $184,528 |
| In-kind | $32,905 |
| Total | $5,565,717 |
| Forgiveness of deferred notes payable | $230,000 |
Operating expenses:
| Housing Management | $6,180,129 |
| Administrative & Management | $226,143 |
| Fundraising | $27,017 |
| Total | $6,433,289 |
Statement of Financial Position
As of June 30, 2024
Assets:
| Cash – Operations | $1,475,982 |
| Cash – Restricted | $2,410,923 |
| Other Receivables | $220,039 |
| Prepaid Expenses | $159,654 |
| Rental Properties, Net | $42,249,562 |
| Other Assets, Net | $126,828 |
| Total | $46,642,983 |
Liabilities: |
|
| Accounts Payable | $448,086 |
| Accrued Payroll & Related | $22,506 |
| Accrued Real Estate Taxes | $247,924 |
| Security Deposits | $205,560 |
| Debt | $20,562,872 |
| Deferred Notes Payable | $3,583,700 |
| Accrued Interest – Short & Long Term | $1,377,983 |
| Lease Liability | $49,293 |
| Construction payables | $8,647,937 |
| Total | $35,145,862 |
Net Assets: |
|
| Unrestricted | $17,673,363 |
| Temporarily Restricted | $1,160,707 |
| Total | $18,834,070 |
| Total Liabilities and Net Assets | $46,645,483 |
View the 2024 Annual Report!
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