Overview
What is Community Housing Trust Of Sarasota County Inc?
Community Housing Trust of Sarasota County Inc is a nonprofit organization situated in Sarasota, Florida. Their primary mission is to provide affordable housing opportunities for low and moderate income individuals and families. They achieve this by collaborating with various public, private, and non-profit groups. The organization also partners with financial institutions and leverages substantial resources to expand the availability of affordable homes. Their unique strategy involves acquiring land and constructing homes for eligible individuals, offering them a long-term 99-year ground lease at a reduced price. This lease includes an option for the organization to buy back the house if the buyer intends to sell it. If the house is sold to a qualified third party at a later date, a predefined percentage of the property's appreciated value is returned to the organization as per the agreement.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 80%, Three-Star out of Four Stars
The Community Housing Trust of Sarasota County Inc has earned an overall score of 80%, reflecting a solid performance in the realm of accountability and finance. This score is derived solely from the Accountability & Finance beacon, indicating that the organization demonstrates strong fiscal responsibility and transparency. Notably, the charity has achieved a perfect score for its independent board composition, with all members being independent, and no material diversion of assets reported.
Despite these strengths, there are areas where the organization could improve. The absence of a whistleblower policy and a document retention and destruction policy indicates a potential vulnerability in governance practices. These missing policies could impact the organization’s ability to manage risks effectively. However, the organization is maintaining a high program expense ratio of 97.76%, which suggests that a significant portion of its funds is directed toward its mission-related activities.
In summary, while the Community Housing Trust of Sarasota County Inc has demonstrated commendable accountability and financial management, addressing gaps in governance policies could enhance its overall effectiveness and sustainability. The strong independent board and low liabilities to assets ratio indicate a sound organization, but enhancing transparency and policy frameworks could further bolster its impact.
This AI summary has been generated from information found on Charity Navigator.
Is Community Housing Trust Of Sarasota County Inc legitimate?
Community Housing Trust Of Sarasota County Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Community Housing Trust Of Sarasota County 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Community Housing Trust Of Sarasota County Inc?
Community Housing Trust of Sarasota County Inc's mission is centered around providing permanently affordable housing opportunities for low and moderate-income individuals and families. They achieve this by collaborating with various groups, including public, private, and other non-profit entities, as well as financial institutions. Their strategic partnerships aim to enhance the supply of affordable homes. In an innovative approach, they offer an Employer Assisted Housing Program. Through this program, they acquire land and construct homes for eligible individuals. A unique feature of this program includes a ninety-nine-year ground lease with a below-market rate purchase price, and an option for the organization to purchase the house if the buyer intends to sell. If the buyer sells the house to a qualified third party at a future date, the organization has the right to receive a portion of the house's appreciated value, as outlined in the agreement.
Who is the CEO of Community Housing Trust Of Sarasota County Inc?
Brad Baker is the President of Community Housing Trust Of Sarasota County Inc.
What is the revenue of Community Housing Trust Of Sarasota County Inc?
Community Housing Trust Of Sarasota County Inc's revenue in 2022 was $14,099.
Who are the executives of Community Housing Trust Of Sarasota County Inc and what are their salaries?
Here are 7 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Community Housing Trust Of Sarasota County Inc?
Community Housing Trust Of Sarasota County Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Community Housing Trust Of Sarasota County Inc
Community Housing Trust of Sarasota County Inc is dedicated to creating permanently affordable housing opportunities for low and moderate income individuals and families. They achieve this by collaborating with various public, private, and non-profit groups, as well as partnering with financial institutions and reliable sources. Their ultimate goal is to increase the availability of affordable homes in the community.
One of their key initiatives is the Employer Assisted Housing Program. Through this program, the organization aims to secure permanent affordability by acquiring land and constructing homes for qualified individuals. By offering a low-market ninety-nine-year ground lease on the land in exchange for a below-market rate purchase price for the home, they provide a stable living situation for these individuals. Furthermore, the organization has the right to purchase the house if the buyer intends to sell, ensuring that the affordable housing remains within the community. If the buyer eventually sells the house to a qualified third party at a future date, the organization has the opportunity to receive a percentage of the house's appreciated value, as defined in the agreement. This innovative approach allows Community Housing Trust of Sarasota County Inc to maintain the long-term affordability of homes, providing sustainable housing solutions for low and moderate income families.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
August, 2024
Community Housing Trust Of Sarasota County Inc's impact lies in its mission to create permanently affordable housing opportunities for low and moderate-income individuals and families. By working with public, private, and nonprofit groups, as well as partnering with financial institutions and grant sources, the organization helps increase the supply of affordable homes in Sarasota, FL. Through initiatives like the Employer Assisted Housing Program, the organization aims to acquire land and build homes for qualified individuals, ensuring long-term affordability through innovative ownership models. This approach not only provides stable housing for those in need but also contributes to the overall community by fostering economic stability and resilience.
This information is meant to be a general summary of Community Housing Trust Of Sarasota County 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.
- Gross Receipts: $14,099
Assets and Liabilities:
- Total Assets: $2,309,812
- Total Liabilities: $263
- Net Assets: $2,309,549
Want to help this charity, for free? You can click here to learn more about Give Freely
Organization Details
Founding Year
2005
Phone
(941) 379-5252Principal Officer
Brad Baker
Main Address
4939 CEDAR OAK WAY, SARASOTA, FL, 342333289
NTEE Category
Code: L20 - Housing
If you are a representative of Community Housing Trust Of Sarasota County 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.