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2011 Appreciation Report

• In 2011, Aeon offered 1,934 apartments and townhomes

at 35 properties that provided safe, stable and affordable

apartment homes.

• 481 apartment homes are designated for formerly

homeless adults and youth.

• Aeon added nearly 150 affordable apartment homes:

- Opened the Renaissance Box in downtown St. Paul, an

award-winning historic renovation.

- Acquired The Maryland in downtown Minneapolis,

preserving affordable apartments which also have a

two-year waiting list.

• More than 3,500 men, women and children found home at

Aeon properties.

• More than 600 formerly homeless adults and youth were

served.

• The average annual income of Aeon residents in 2011 was

$14,800.

Welcome to Aeon’s 2011 Appreciation Report (a.k.a. annual

report). Aeon and its residents couldn’t have accomplished

their work without your support. This is a snapshot of how

you helped make HOME possible for more than 3,500 people

in our community! Thank you.

Aeon is growing – not for growth’s sake, but “for home’s

sake.” Growth in itself, for Aeon, is not an end. HOME is

the end. Aeon’s vision is that every person has a home and is

interconnected within community.

We owe our growth to the commitment of our residents,

staff, board members, funders & partners, donors and

volunteers. To you, we say thank you!

Rick Ford, Chair

Aeon’s Board of Directors

Alan Arthur

President & CEO

APARTMENT HOMES

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• Resident Connections support services were offered at 12

properties and available to 1,249 residents. These services

supported successful residency, helping strengthen housing

stability and create home.

• More than 3,000 visits were made by residents to access

Resident Connections events and services – community

activities and connecting them to budget counseling, mental

health or employment services and more.

• Aeon began construction on 50 apartments at Sienna Green

in Roseville – two- and three-bedroom units for families, and

four one-bedroom units for formerly homeless individuals.

• Nearly 270 affordable apartment homes will be preserved

for Twin Cities suburban residents–122 apartment units in

Brooklyn Center and 146 in Columbia Heights.

• 54 new apartment homes are scheduled for development in

Chaska, specifically for seniors.

• South Quarter Phase IV will transform the business of

building sustainable, multi-family affordable housing when

it adds 120 new affordable apartment homes in southern

Minneapolis.

Individuals

Ryan Anderson Cleo Austin Ryan Bennett Todd Benusa Barbara Berris Tanya Bischof Jimmy Bostic JJ Bostic Susan Bratt Charles Brown David Butler Paul Cairns Paul Carr Eddie Chambers Harold Cooper Alana Costa Sachin Darji Sondra Dawson Priscilla Deke Sid DeLuca Michael Dorfman Michael Doyle Lynette Dumalag Dave Einck Jessica Falk Patrick Fey Frederick Fields Rachel Filip Kristin Fischer Rosel Rick Ford Dale Forsberg Melinda Freeland Shirley Gipson Amy Graves Lanier Harper Marie Harris Abdikadir Hassan Elery Hatten Jeremy Haug Eric Hemphill Alfonso Highsmith Sarah Holman Felicia HongNhung Nguyen Kent Hranicka Fredrick Hurst Danielle Iskierka Cardie Jackson Shawtay Jackson Janice Johnson Margaret Jones Pat Kandakai Don Keefe, Jr. Matthew Kessler Robert LaFrenz Josh Larson George Latimer Adam Lawrence Elise Lindell Thomas Lockhart Roy Looper Daniel Mack Melissa Manderschied Laurie Martineau Nick Mattson David Maynard Megan McGough Megan McKellen Samantha McNabney Ryan Moua Jerry Murray Nick Nerland Mark Neumann Daisy Nguyen Rachel Nicolay Chad Olson Chad Osgood James Palmer Michael Palmer Dhiren Patel Carolyn Patterson Joanne Patterson Nicholas Patterson Garrett-Steven Peer Brandon Peterson Jim Pfau Jason Plastridge Courtney Poja Lauren Pritchard Glenda Ramsey Bruce Rubin Tom Schaefer Mel Scholl Valley Seward Ray Skinaway Nancy Skordahl Jim Slomkoski Steve Smith Bobbie Sondreal Charles Stinson Becky Streeter Cory Streeter Kevin Summers Jaclyn Swords Thomas Symmes Kristin Tauchen Viviane Tchonang Leuche Bob Thompson Alese Tibbs Bob Timperley Rafaela Tolmasky Gilbert Towner Anders Ulness Pooja Vaidya Tim Venne Devon Washington Elena Wexler Julie Wexler Beth Widstrom-Anderson Denise Young Eric Young Johnny Young Jordan Young

Companies &

Organizations

Abundant Life Church Alumnus of the College of St. Benedict & Saint John’s University CBS Dean’s Scholars Comcast Cummins Power Generation- Fridley Greater Minneapolis Council of Churches Eagle Brook Church Hamline University Holy Family Catholic High School Humphrey School of Public Affairs, University of Minnesota MEDRAD / Possis Medtronic Net Impact North Central University Northeast Contemporary Services Pentair Technical Products Phi Kappa Psi Fraternity Prospect Park United Methodist Church Students Today Leaders Forever Target Corporation The Church of Jesus Christ of Latter-Day Saints The Episcopal Diocese of Minnesota Twin Cities Habitat for Humanity UPS U of M Phi Kappa Psi U of M Delta Phi Omega U of M Net Impact U of M College of Biological Sciences US EEOC William Mitchell Cedaha Law School Wooddale Church Youth Care Community Service STARS

More than 1,400 volunteers shared their time and talents, contributing 8,374 hours of

service. Aeon salutes each and every one. The following volunteers supported Aeon

with more than 10 hours of service.

VOLUNTEERS

BEYOND 2011

RESIDENT CONNECTIONS

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Cornerstone Society

Cornerstone Society honors individuals and organizations who support Aeon’s mission with five-year pledges of $1,000 or more per year. Aeon extends its overwhelming gratitude for their steadfast commitment to providing homes for generations.

Dream Builders

($10,000+ for 5 years)

Alan & Carol Arthur** Russell Cowles & Josine Peters Paul & Diane Frerichs** John Lavander & Nancy Owen

Brick Layers

($5,000+ for 5 years)

Kevin Filter & Rosemary Kessler Paul Ravich Emily Anne & Gedney Tuttle

Ground Breakers

($1,000+ for 5 years) Michael & Patricia Aafedt Stuart Ackerberg Dean Adolph Alpha Wall Systems Roger Anderson and Beth Widstrom-Anderson+ Jeanne Andre & Dennis Schapiro Lynn Argetsinger & Roger Friedell Peter Bailey Bill Baker & Lynn Woodland C. Robert & Cammie Beattie Tom Bergstrom & Melissa Downey Peter Berrie** Michael Bilski Christopher Cleveland and Patricia Bloodgood Vicky Boddie Wally Bomgren Katherine Lewis & Bill Bulson Paul Cairns David Carisch Jon Carlson William Casey Andrew & Nicole Centanni Terri Cermak & Todd Rhoades Anders & Chris Christensen** Angela Christy Ted & Gina Ciganik Wally Cisewski Rob Clapp Paul & JoAnn Cochran Ryan Comer Sage & John Cowles Dermot Cowley Sally & John Cuningham** Michael & Carol Cushmore Bob & Carolyn Cuthill Sachin Darji+ Ginger & John Davis Sally Deke John Dietrich Frank Dunbar Sheryl & Tom Ebenreiter Ron & Stacy Erickson Dan Esch Established Brands Frank Fallon John Findley Mike & Linda Finley Daniel & Kathy Flicek Adriana Alvarez & Rick Ford+ Dale & Sara Forsberg** Jonathan & Jackie Foster Nathan D.H. Freeburg Dan & Ann Gifford Marsha Gille & Roger Raina** Steve Gustafson Susan Hackett Heather Haglund Hamernick Decorating Katie & Rodney Hardy Mike Hart Peter Heegaard Greg & Nancy Held Nell Hillsley Quan Hoang+ Kathy Holladay & Marilyn Trouth Rex & Arlene Holzemer Caroline Horton** Joanne Kosciolek and Randy Hoversten** Cheryl Indehar Bruce C. Johnson Matt & Jenn Johnson Kathleen Jones Bill Joyce Jim & Martha Justus Bob Kaufer & Stephanie Hankerson Robert & Carol LaFrenz John Lakte Harry Lerner Tom Linebarger & Michele Janin Dan Lone Lorrie Louder Gregg Lovell Dick Lundy & Lucille Goodwyne Mahoney Ulbrich Christiansen & Russ Duayne & Dianne Malewicki John Martin Susan Martinson & Kelly Frost Todd Mayclin Shaun McElhatton** Michael Meyer Marian & Roger Michael James Miles Gregory Miller Victoria Miller & Jim Carter Gary & Elaine Mulcahy Jerry & Denise Murray Kim Nelson Wayne Nelson Bruce & Ann Nerland Nancy Nerland Nick & Tamra Nerland Thomas Nordyke Chad Olson Darlene Petit & Karen Olson Sharon Olson Robert Parr Bob Perry Jim & Joanne Pfau Spiwe Pierce David Potter & Darwin Lookingbill Private Bank Minnesota** David Reitan John & Cathy Ries Mike & Toni Rosen Ann Rucker Barb Ryan Tony & Ann Satterthwaite Lynn & Tom Schaefer+ Harry & Shari Schindele Mel Scholl+ Joel Schwieters John & Christina Sheran Victoria Shipley Douglas Simek Winifred Smith & David Lillehaug Julie Snow Robbie Soskin Ruth Spiegel & Brad McNaught Jon Spoerri Lawrence Stephenson Carol Eastlund & Charles Stinson Steven Streeter Paul Sween Gwen Thomas Bob & Geri Timperley Frances Tobian Mike Trossen Kara Bettin VerHage & Josh VerHage Sue & Dave Vigstol Pete & Mary Sue Vorbrich Wendy Walker Scott Weicht Jay Weis William Weisman Troy Wenck Gwen Wildermuth Brad Williams John Williams Carol Frey Wolfe Brian Woolsey Peter Worthington Irma Wyman Julie Zimmerman & Sean Curry Chris Zuspann

**denotes Founding Member +denotes member of Aeon’s Board of Directors

2011 Donors

Aeon is grateful for the variety of funding sources that keep its develop-ments and operations strong. The generosity of the following donors propels our vision that every person has a home and is interconnected within community. Thank you!

Corporations, Foundations

& Other Funders

$100,000+

McKnight Foundation NeighborWorks America

$25,000 - $99,999

Enterprise Community Partners Frey Family Foundation Greater Twin Cities United Way The Minneapolis Foundation Target Foundation US Bank

$5,000 - $24,999

Adolfson & Peterson Construction Ameriprise Financial Community Relations Athwin Foundation CarVal Investors Cummins Power Generation Ecolab Foundation Faegre & Benson Foundation Marquette Financial Companies Minnesota Historical Society National Trust for Historic Preservation NorthMarq Capital, Inc. Open Your Heart to the Hungry and Homeless Robert E Fraser Foundation Sterling Housing Corporation Turner Family Foundation UPS Foundation

$1,000 - $4,999

Bassford Remele C.H. Robinson Worldwide, Inc. CenterPoint Energy Comcast Family Orthodontics P.A. Hands On Twin Cities Kiwanis Golden K Club of Edina Local Initiatives Support Corporation Minneapolis Lions Foundation Minneapolis Public Housing Authority (MPHA) Morgan Stanley NumberWorks Peregrine Capital Management Pohlad Family Foundation The RBC Foundation - USA RENT SODA Salo Search The Soener Foundation SR Mechanical US Bancorp Foundation Walter C. Rasmussen - Northeast Bank Foundation Westwood Professional Services

$500 - $999

Brookfield Properties Corp. Builders Millwork CitiGroup Foundation Dry Tech Imaging Path Morgan Stanley - Smith Barney Wellington Management Winthrop & Weinstine

$250-$499

Ameriprise Financial

SUPPORT

$660,000 was raised at the 2011 Beyond Bricks &

Mortar fundraising breakfast with 850 guests attending.

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The Arthur Gallagher Foundation Bank of America Matching Gifts Crossroads Construction DJR Architecture, Inc. LHB Corp. Nelson, Tietz & Hoye Plants by Design Steenberg Watrud Construction Thrivent Financial Bank Unity One Federal Credit Union

Event Sponsors

American Masonry Aspen Waste Systems, Inc. Braun Intertec Cermak Rhoades Architects Cuningham Group Architecture, P.A. Frerichs Construction Company Hamernick Decorating LHB Corp. Miles and Associates US Bank Watson-Forsberg Co. Weis Builders, Inc. Welna ACE Hardware

Individual Donors

$5,000 +

Marv Kotek

$1,000 - $4,999

Anonymous Donor Nancy & Bob Anderson Dave & Mary Jo Bangasser Angela Bohmann & Jonathan Riehle Joanne Carlson Kenneth Dayton Vanessa Freeman Cathleen & Ward Godsall Barb Halverson Elizabeth Hawn David Juran Dave Libra Peg & Dick Lidstad Bruce & Patrice MacGibbon Anne Nickoloff Karen & Steve Sanger John Schwieters Ginger & Bill Simek April Spas & Kris Burhardt David Sternberg Anita Young JeriLynn Young

$500 - $999

Gary Asmus Nina Axelson Ann Beckman* Susan Burbank Sharon Cline Pam Cote Gary Critelli David Cuthill Bill & Charlotte Davnie Michael Porsch & Lynette Dumalag + David Dye & Daisy Nguyen*+ Karen & Dennis Fenster David Forsberg Ned Foster* Pam Fredrickson* Lynn & Mike Gilligan Jody Gunderson Timothy Gustin Kay B. Johnson Bennett Jones Collin Kaas Dale & Jodeen LaFrenz Laura Landy & Michael Israel David & Gay Ludvig* Melissa Manderschied+ Sue Mason* Jane Mauer Margaret McBride* Anne Harvell & Don McClung Peter McLaughlin* Elizabeth McLay Craig Mizushima Carol Moller* Russ & Nancy Nelson David Newman* Todd Nollenberger* Dave Parrin Amy Pfarr Walker & Bill Walker Rhonda Pierce Marianne Podoll Courtney Poja Steve Pricco Brian Ranallo Jim Cordaro & Bruce Rubin+ Regina Salmonson Dan & Nancy Schmid Roger Schnobrich* Don & Olive Schoessler Jeff Severtson Andrea Specht* Mary Stadick Donna Stevermer Brian Sund Ann Sundberg Peter Thiesfeld Ed Von Thoma Barry Vulcan Brent Webb* Steve Welo Charlie Young Becky Yust Tim Zosel

$250-$499

Deb Adams Mike Addy & Nancy Johnson Kimberly Berry* Valerie Blanco Tom Bobak Jan Frankman & Philip Bradley Bob Butterbrodt* Corinne Cahill Gretchen Camp Paul & Julie Carr* Thomas Cherry Jim Christenson Eric Cooperstein Jeanne Corwin Jeanne Crain Chris Culp Justin & Valerie Cummins Barbara Dacy Paul Damrow James DeLuca Louis DeMars Tami Diehm Michael Doyle Peter Dufour Dave Einck Dawn Erlandson Jessica Falk Dave Fenske Mimi Fisher Michele Foster Allen & Mary Gooch Keith & Renae Gill Chris Gresh Daniel Grimsrud Michele Groves Tom Gump Maxine Haglund-Blommer Robert “Chip” Halbach Alison Halley* Carolyn Hansen Nile & Judith Harper Jeremy Haug Lori Hayes Allen Hill Kathryn Hillesheim Connie Hines Steve Holmquist Greg Hosch Tracy Howard* Tina Hoye Hoyt Hsiao Michelle Hudson Scott Hughes Margo & Fred Hurst+ Wayne Jennings & Joan Sorenson* Cary Johnson Clay Kalter Brian Kamin Tony Karels Bill Katter Steven Katz Craig & Jill Klausing Kate Kleiter John Koch Mary Kosciolek Peter Lafferty Kari Larsen Kent & Cheryl Larson Suzanne Larson Van Lawrence Jamen Lewis Eric Lindberg* Miguel & Monica Lindgren Mark Liska Paul Lohman* Jim Losleben Nick Luciano Patrick Mahoney Nick Mattson Marlene Mcgrath Chris McPartland & Ann Harrington Andy Meelberg Charlie Melcher Robert Mersky Nancy Meyer Wilson Alice Moormann Dana Murdoch Kathleen & Deborah Murphy Nathan Nerland* Joe Noack John Nolde Chris Ochtera Dhiren Patel Dan Pfarr Todd Phelps Sue Phillips Natalie Ramier Susan & Charles Reinhart Chuck Rieland Ben Rousu Amy & Brody Schmid Bill Schneck Mary Senkus Cheryl & Bryant Smith* Dan Smith Kathy Smith Steve Soltau Mark Sticha Samantha Stoltz* Arlene Strom Kirk Swanson Michael Swor Salah Tarraf Larry Tolle Brian Tucker John Upson Casey Van Winkle Kim Vetter* Paul Vogel Jim Vos Cassie Warner Joe Weis Tashia Weisenburger* Mary Welch Robin Williams Ken Wood

+ denotes member of Aeon’s Board of Directors * denotes multi-year pledge

In-Kind Supporters

(gifts valued at $250+)

Aeon Connect Harvey Allison Baileys Nursery Becky and Corey Streeter & Friends College of St. Benedict and St. John’s University Alumni Comcast General Mills Hamernicks Hands on Twin Cities Hennepin Technical College Irish Born Hospitality KDWB Medrad POSSIS Minnesota Horticultural Society MN Green Program Pentair Prospect Park United Methodist Church Sanctuary CDC Target Steve & Kristen Tauchen Thrivent Unilev Management Corp. Wooddale Church Denise & Eric Young Mick Zivkovic & Friends

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Statement of Activities

For the year ended December 31, 2011

Unrestricted Operating Revenues and Support

Rental revenue

. . . .

14,909,892

Contributions, including net assets released

. . . .

1,415,639

Government grants

. . . .

621,598

Development and management fees

. . . .

715,562

Interest and other revenue

. . . .

188,114

Total operating revenues and support

. . . .

17,850,805

Operating Expenses

Program services

Rental operations

. . . .

12,502,142

Housing development

. . . .

961,215

Housing services

. . . .

1,136,364

Property management

. . . .

879,857

Management and general

. . . .

512,831

Fundraising

. . . .

503,234

Total operating expenses

. . . .

16,495,643

Unrestricted Operating Income (Loss) . . . .

1,355,162

Government grants and contributions – capital

. . . .

4,511,221

Deferred interest and other financial expenses

. . . .

(1,252,701)

Depreciation and amortization

. . . .

(5,549,052)

Restricted contributions, net of releases

. . . .

500,117

Change in Net Assets, before capital contributions

. . .

(435,253)

Capital contributions from limited partners

. . . .

14,126,891

Change in Total Net Assets . . . .

13,691,638

If you have questions regarding these activities, you may contact us at 612-341-3148.

FINANCIALS

References

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