Overview
What is Chicago Community Land Trust?
The Chicago Community Land Trust (CCLT) is a nonprofit organization situated in Chicago, Illinois, specifically at 121 N Lasalle Street 1006. Its primary mission is to offer and maintain affordable homeownership opportunities for working families and individuals in the city, aiming to secure these chances for future generations. CCLT achieves this by engaging in community outreach and marketing, educating low-income families about affordable home purchasing opportunities through the organization. They also provide resources for homebuyers, including training for mortgage lenders, attorneys, and other real estate professionals, ensuring a comprehensive understanding of the organization's ownership model. Post-purchase, CCLT offers homeowner support and monitoring to ensure stability in the homes. This holistic approach to affordable housing aims to create a supportive community for its residents.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94%, Four-Star out of Four Star rating.
The Chicago Community Land Trust has achieved a strong 94% rating from Charity Navigator, reflecting its commitment to accountability and financial transparency. This high score is driven entirely by the Accountability & Finance beacon, indicating that the organization effectively manages its resources and adheres to robust governance practices.
The trust boasts a fully independent board, with 93% of its members classified as independent, which contributes to its strong oversight capabilities. Financially, the organization demonstrates excellent management with a very low liabilities to assets ratio of 2.54% and a high program expense ratio of 87.47%, ensuring that the majority of its funds are directed towards its mission-driven programs.
While the rating highlights strengths in governance and financial health, it is important for potential donors and stakeholders to consider the impact of the organization's programs and their alignment with community needs. Overall, the Chicago Community Land Trust stands out as a well-managed nonprofit dedicated to serving the community.
This AI summary has been generated from information found on Charity Navigator.
Is Chicago Community Land Trust legitimate?
Chicago Community Land Trust is a legitimate nonprofit organization registered as a 501(c)(3) entity. Chicago Community Land Trust submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $168,098
Professional Fundraising Fees: $0
Other Salaries and Wages: $53,397
For more financial information, click here
What is the mission statement of Chicago Community Land Trust?
The Chicago Community Land Trust (CCLT) is dedicated to providing and sustaining affordable homeownership opportunities for working families and individuals. Their mission is to create a supportive community for these individuals, with the goal of preserving these opportunities for future generations. Their activities involve community outreach and marketing to inform low-income families about affordable purchase opportunities, providing homebuyer resources such as education on the organization's ownership model and training for real estate professionals, and offering post-purchase support and monitoring to ensure homeowners remain stable.
Who is the CEO of Chicago Community Land Trust?
Joy Aruguete is the President of Chicago Community Land Trust.
What is the revenue of Chicago Community Land Trust?
Chicago Community Land Trust's revenue in 2022 was $513,072.
Who are the executives of Chicago Community Land Trust and what are their salaries?
There 15 volunteers at Chicago Community Land Trust.
Here are 17 key members and their salaries:
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Where can I find the form 990 for Chicago Community Land Trust?
Chicago Community Land Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Chicago Community Land Trust
The Chicago Community Land Trust (CCLT) is committed to providing and sustaining affordable homeownership opportunities for working families and individuals in Chicago. Their mission extends beyond just housing, as they also aim to establish a supportive community for these individuals. The organization strives to preserve these opportunities for future generations, ensuring a continued sense of security and stability.
To achieve this mission, CCLT engages in various program activities. They undertake community outreach and marketing efforts to inform low-income working families about the affordable home purchase opportunities offered by the organization. Beyond this, they provide homebuyer resources, including education on their unique ownership model and training for mortgage lenders, attorneys, and other real estate professionals. Post-purchase, CCLT offers homeowner support and monitoring to ensure that the organization's homeowners are successfully stabilized in their homes.
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Impact
July, 2024
Chicago Community Land Trust's impact is evident in the provision and sustainability of quality, affordable homeownership opportunities for working families and individuals in Chicago. Through community outreach and marketing efforts, the organization informs low-income individuals about affordable purchase opportunities. By providing homebuyer resources such as buyer education and training for real estate professionals, the Chicago Community Land Trust enables more people to become homeowners. Additionally, the organization offers post-purchase support to ensure homeowners are able to stabilize in their homes, contributing to the stability of communities in Chicago.
This information is meant to be a general summary of Chicago Community Land Trust. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $4,216
- Gross Receipts: $513,072
Assets and Liabilities:
- Total Assets: $3,371,280
- Total Liabilities: $85,774
- Net Assets: $3,285,506
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Organization Details
Founding Year
2006
Phone
(312) 744-6746Principal Officer
Joy Aruguete
Main Address
121 N LASALLE STREET 1006, CHICAGO, IL, 60602
NTEE Category
Code: L210 - Housing
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