Overview
What is Laconia Area Community Land Trust Inc?
Laconia Area Community Land Trust Inc, often referred to as Lakes Region Community Developers (LRCD), is a nonprofit organization based in Laconia, New Hampshire. With a team of 10 dedicated individuals, their mission is to foster growth and prosperity in the Lakes Region by constructing robust homes, establishing community assets, and engaging local residents. To accomplish this, LRCD employs a third-party management agency since April 2006 to administer their rental property portfolio. Their primary focus is on creating opportunities that contribute to the region's overall well-being.
Official website here: www.lrcommunitydevelopers.org
What are the reviews and ratings of this charity?
Charity Navigator rating: 96%, Four-Star out of Four Star rating.
The Laconia Area Community Land Trust Inc has achieved a stellar 96% score, reflecting its strong commitment to accountability and finance. This rating is primarily based on a comprehensive assessment of its financial practices, indicating that the organization operates with a high level of transparency and integrity. The charity has a robust governance structure, with a fully independent board, which plays a crucial role in its effective oversight.
Strengths highlighted in the evaluation include a strong program expense ratio of 88.27%, suggesting that a significant majority of its funding is directed towards its programs rather than administrative costs. The organization also scores full marks in various areas such as having an audit and oversight committee and policies for conflict of interest and whistleblowing, which further demonstrate its commitment to ethical practices.
While there are no major limitations noted in the data, the organization's strong fiscal health is underscored by a low liabilities to assets ratio of 27.70%, indicating that it maintains a sound financial footing. Overall, the Laconia Area Community Land Trust Inc stands out as a responsible and effective nonprofit dedicated to its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Laconia Area Community Land Trust Inc legitimate?
Laconia Area Community Land Trust Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Laconia Area Community Land Trust Inc 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: $122,593
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.lrcommunitydevelopers.org
What is the mission statement of Laconia Area Community Land Trust Inc?
Laconia Area Community Land Trust Inc, often referred to as LRCD, strives to foster growth in its community by developing healthy homes and creating vibrant community assets. Their mission is centered around engaging residents, aiming to enhance the overall well-being of the area. To accomplish this, LRCD provides asset management services for its properties, ensuring their effective maintenance and utilization. This approach contributes to the overall thriving of the community.
Official website here: www.lrcommunitydevelopers.org
Who is the CEO of Laconia Area Community Land Trust Inc?
Carmen Lorentz is the Chair of Laconia Area Community Land Trust Inc.
Official website here: www.lrcommunitydevelopers.org
What is the revenue of Laconia Area Community Land Trust Inc?
Laconia Area Community Land Trust Inc's revenue in 2022 was $2,294,982.
Official website here: www.lrcommunitydevelopers.org
Who are the executives of Laconia Area Community Land Trust Inc and what are their salaries?
The average compensation at Laconia Area Community Land Trust Inc during 2022 was $12,259. There are 10 employees and 46 volunteers at Laconia Area Community Land Trust Inc.
Here are 14 key members and their salaries:
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- Compensation: $114,877
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- Other: $18,869
- Compensation: $104,324
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- Other: $6,575
Official website here: www.lrcommunitydevelopers.org
Where can I find the form 990 for Laconia Area Community Land Trust Inc?
Laconia Area Community Land Trust Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.lrcommunitydevelopers.org
Learn more at the official website: www.lrcommunitydevelopers.org
Mission Statement of Laconia Area Community Land Trust Inc
Laconia Area Community Land Trust Inc, commonly known as LRCD, is dedicated to enhancing the Lakes Region by fostering the development of healthy homes, encouraging the creation of community assets, and engaging with local residents. LRCD's mission is centered around fostering opportunities for growth in the region. They achieve this by focusing on the development of sustainable homes and promoting vibrant community resources. Furthermore, LRCD actively engages with residents, working towards the betterment of the community as a whole. In addition to its mission, LRCD also provides asset management services for its property portfolio, delegating these responsibilities to a third-party management agency since April 2006.
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Impact
July, 2024
Laconia Area Community Land Trust Inc, operating under the name Lakes Region Community Developers, is actively working towards creating opportunities for the Lakes Region to thrive. By developing healthy homes, creating vibrant community assets, and engaging residents, they are making a significant impact on the local community. Their focus on providing rental properties and asset management services is contributing to the overall well-being and sustainability of the region. Through their housing initiatives, they are addressing the critical need for affordable and quality housing options for residents in Laconia and the surrounding areas. Their dedication to community development is helping to improve the overall quality of life and foster a sense of belonging among residents.
This information is meant to be a general summary of Laconia Area Community Land Trust Inc. 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: $33,333
- Program Service Revenue: $1,235,883
- Gross Receipts: $2,294,982
Assets and Liabilities:
- Total Assets: $15,130,860
- Total Liabilities: $4,192,542
- Net Assets: $10,938,318
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$895,595
DEVELOPER FEES
Revenue
$312,000
RESIDENT SERVICE FEES
Revenue
$28,288
Organization Details
Founding Year
1988
Phone
(603) 524-0747Principal Officer
Carmen Lorentz
Main Address
193 COURT STREET, LACONIA, NH, 03246
NTEE Category
Code: L200 - Housing
If you are a representative of Laconia Area Community Land Trust Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.