AEON

MINNEAPOLIS, MN | Hennepin County
Affordable Housing

Overview

AEON
41-1558711
901 N 3RD ST STE 150
MINNEAPOLIS, MN 55401
Hennepin County
(612) 341-1348

communications@aeon.org
Mission Statement info

WITH A VISION THAT EVERYONE DESERVES A HOME, AEON'S MISSION IS TO DEVELOP AND PRESERVE QUALITY AFFORDABLE HOMES THAT STRENGTHEN LIVES AND COMMUNITIES.

CRA Category info
  • Affordable Housing
Nonprofit location info
  • This nonprofit is not located in any CRA geographies.
Awards & Certifications info
  • LIHTC Recipient
Founded info
1986
Total Employees info
250
Total Volunteers info
40
Nonprofit Classification (NTEE Code) info
L20

L - Housing, Shelter

Housing Development, Construction & Management

Organizations that build, rehabilitate, manage and/or provide rental housing for low-income individuals and families, older adults and people with disabilities; or which make purchasable housing available to low or moderate income families by offering lower priced housing and/or affordable payment plans, by arranging for interest or mortgage subsidies or by involving eventual owners in the construction process (sweat equity). Use this code for organizations that provide housing services for a wide range of individuals or for those that offer housing options for low income tenants that are not specified below.

IRS Activity Codes info
408
Community service organization
-
Not reported
-
Not reported
Standard Business Classification (NAICS Code) info
624229
Other Community Housing Services
Targeted Clients info
  • At-Risk Youth
  • Domestic Violence Victims
  • Economically Disadvantaged
  • Families
  • Homeless
  • Inmates or Ex-Offenders
  • LGBTQ Individuals
  • Men
  • Minority Individuals
  • Native Americans
  • People in Recovery
  • Senior Citizens
  • Veterans
  • Unemployed
CRA Income Characteristics info
  • HUD Assistance Recipients
  • Low-Income
  • Medicaid Recipients
  • Moderate-Income
  • People Living Below Poverty Level
  • SNAP Recipients
  • Welfare Recipients

CRA Alignment

CRA Category info
Affordable Housing
Creation, rehabilitation, operation or preservation of affordable housing.
96%
Percent LMI Served info
as reported by the nonprofit
What does it mean for a nonprofit to be CRA aligned?
Each nonprofit on Community Qualifier has been reviewed by findCRA utilizing a dual evaluation process. Nonprofits are first evaluated by our proprietary algorithm, CRANIA, and then further validated by our CRA experts. When nonprofit passes both parts of this review, we create a nonprofit profile for them on Community Qualifier. From there, a nonprofit can claim their profile and add additional information including their programs & services, counties served, targeted clients and income groups and more.
Programs & Services info

Not reported by nonprofit


This nonprofit has claimed its profile but has not yet provided this information.
Awards & Certifications info
Community Development Financial Institution info
Community Development Financial Institution Award Recipient info
New Market Tax Credit Recipient info
HUD Counseling Agency info
Low Income Housing Tax Credit Recipient info
Most Recent LIHTC Project info
SOUTH QUARTER

 
Minneapolis, MN
Amount info
$1,415,000
Project Year info
2015
Allocation Year info
2013
Total Units info
120
Low-Income Units info
67
Currently Monitored info
Not reported
Construction Type info
New Construction
Property Characteristics info
  • Qualified Census Tract
Special Programs & Financing info
  • CBDG Program
  • HOME Program
  • HUD Rental Assistance
Targeted Population info
  • Families
  • Homeless

IRS Summary

Income
$34.9M
Revenue
$34.8M
Assets
$203.6M

IRS Business Master File Details info

As of March 2024
Exempt Ruling Date info
1986-11
Deductibility Status info
Deductible
Last Tax Filing info
2022
Organization Type info
Corporation
Organization Tax Filing Status info
990 (all other) or 990EZ return
Foundation Tax Filing Status info
990-PF not required by IRS
Affiliation Classification info
Independent Organization
Basis for Foundation/Public Charity Status info
Organization which receives a substantial part of its support from a governmental unit or the general public 170(b)(1)(A)(vi)

IRS Publication 78 Details info

As of March 2024
Verified in Publication 78 info
Yes
Deductibility Limitation info
50% (60% for cash contributions)
Organization Description info
A public charity

IRS Form 990 Returns info

Through August 2023
Tax period ending in
2020-12
Tax period ending in
2019-12
Tax period ending in
2017-12
Tax period ending in
2016-12
Tax period ending in
2015-12

Nonprofit Location

Physical Address info
901 N 3RD ST STE 150
MINNEAPOLIS, MN 55401
Hennepin County
Area Type info
Metropolitan Statistical Area
FIPS Geocoded Address info
33460
MSA/MD info
27
State info
053
County info
1262.01
Tract info
Upper
Income Level info
Core-Based Statistical Area info
33460 - Minneapolis-St. Paul-Bloomington, MN-WI
Combined Statistical Area info
378 - Minneapolis-St. Paul, MN-WI
Metropolitan Division info
Not located in an MD.
Located In info
Low- or Moderate-Income Census Tract info
Opportunity Zone info
Majority Minority Census Tract info 33.11%
FFIEC Designated Distressed Census Tract info
FFIEC Underserved Census Tract info
Geographies Served info
  • MN - Anoka County
  • MN - Carver County
  • MN - Hennepin County
  • MN - Ramsey County

Market Data

Census Tract County
1262.01 Hennepin County
Population
Total Population 3,153 1,270,787
Total Households 1,667 529,029
Income
Median Family Income (Census*) $184,079 $92,595
Median Family Income (2023 FFIEC est.) $124,300 $124,300
Tract Income Percentage 177.03% N/A
Below Poverty Level 18.0% 9.8%
Unemployment Level 6.4% 4.3%
Housing
Total Housing Units 1,690 556,973
Total Owner-Occupied Units 17.5% 63.0%
Total Renter-Occupied Units 81.1% 37.0%
Total Vacant Units 1.4% 5.3%
* Census tract income based on 2020 American Community Survey data as reported in the 2023 FFIEC Census Flat File; County income based on 2022 American Community Survey data.
View more than 200 performance context data points for this county now.

Management

17
Total Voting Members
in Governing Body
info
17
Independent Voting Members
in Governing Body
info
Tax Filing Signatory info
Alan Arthur
(612) 341-3148
Principal Officer info
Alan Arthur
findCRA Profile Owner
mary routhieaux
VP of Resource Development
mrouthieaux@aeon.org
Key Policies & Documents info
Written Conflict of Interest Policy
Written Document Retention & Destruction Policy
Written Whistleblower Policy
CEO Compensation Review Process
Written Minutes of Board Meetings
Financial Statements & Reporting info
Compiled or Reviewed by an Independent Accountant
Audited by an Independent Accountant
Included in Consolidated Financial Statements
Internal Audit Committee Review
Federal Grant Audit Required
Federal Grand Audit Performed
Organization Activities info
Provides Credit Counseling
Conducts Gaming Activities
Engages in Lobbying Activities
Engages in Political Activities
Makes Grants to Individuals
Makes Grants to Organizations

Information in this section is extracted from the nonprofit's e-filed tax return and based on answers provided by the nonprofit in their 990 e-filed for the tax period ending on 2020-12.

A hyphen (“-“) in this section indicates that the information was not required by the IRS or not reported by the nonprofit in its tax return e-filing.

This Nonprofit Profile was created using data available from publicly available government and industry sources, our own research, and information provided directly the nonprofit organization. Whenever possible, we utilize the most recent information available including information as made public by the Internal Revenue Service, U.S. Census Bureau, Federal Financial Institutions Examination Council, and more. The format and design of this Nonprofit Profile is ©findCRA. For more information about our Nonprofit Profiles, please visit help.findcra.com.