Overview
What is Diamond State Clt Inc?
Diamond State Clt Inc, based in Dover, Delaware, is a dedicated nonprofit organization focused on addressing the issue of affordable housing. They achieve this by implementing a unique approach, sharing equity gains between the CLT and homeowners. This method helps reduce the impact of land and location costs, ensuring that homes remain affordable for future generations. With a portfolio of 41 homes across the state, Diamond State Clt Inc recognizes the pressing need for more affordable housing options for low to moderate income households. Committed to preserving public investment, the organization has so far preserved over $4.2 million. Their mission is to strengthen Delaware communities by creating and stewarding forever affordable housing for low-moderate income individuals and families, while promoting sustainable land use.
Official website here: www.diamondstateclt.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 97%, Four-Star out of Four Star rating.
Diamond State Clt Inc has achieved an impressive 97% score, reflecting strong performance in accountability and finance. This high rating is primarily based on the charity's commitment to transparency and governance, with an entirely independent board and no material diversions of assets reported. The organization demonstrates solid financial health, evidenced by a low liabilities to assets ratio of 23.42%, indicating effective management of its resources.
The organization excels in its policy implementation, holding a comprehensive conflict of interest policy, a whistleblower policy, and protocols for document retention and destruction, all of which contribute to its high score. Furthermore, the charity allocates a significant portion of its budget to program expenses, with a program expense ratio of 76.14%, ensuring that the majority of funds are directed towards its mission-driven activities.
While the ratings highlight the strong governance and financial practices of Diamond State Clt Inc, there are no noted limitations or concerns in the data that would detract from its overall positive perception. This positions the charity as a reliable and well-managed organization within the nonprofit sector.
This AI summary has been generated from information found on Charity Navigator.
Is Diamond State Clt Inc legitimate?
Diamond State Clt Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Diamond State Clt 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: $32,072
For more financial information, click here
Official website here: www.diamondstateclt.org
What is the mission statement of Diamond State Clt Inc?
Diamond State CLT Inc's mission is to strengthen communities by creating and maintaining affordable housing for low- to moderate-income individuals and families, while promoting sustainable use of land. They achieve this by sharing equity gains between the CLT and homeowners, reducing the impact of land and location costs and ensuring the affordability of homes for future generations. With a portfolio of 41 homes across the state, Diamond State CLT recognizes the ongoing need for more affordable housing. Furthermore, the organization believes in preserving the funds used to make these homes affordable for future generations.
Official website here: www.diamondstateclt.org
Who is the CEO of Diamond State Clt Inc?
Sarah Keifer is the President of Diamond State Clt Inc.
Official website here: www.diamondstateclt.org
What is the revenue of Diamond State Clt Inc?
Diamond State Clt Inc's revenue in 2022 was $44,965.
Official website here: www.diamondstateclt.org
Who are the executives of Diamond State Clt Inc and what are their salaries?
The average compensation at Diamond State Clt Inc during 2022 was $16,036. There are 2 employees at Diamond State Clt Inc.
Here are 6 key members and their salaries:
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Official website here: www.diamondstateclt.org
Where can I find the form 990 for Diamond State Clt Inc?
Diamond State Clt Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.diamondstateclt.org
Learn more at the official website: www.diamondstateclt.org
Mission Statement of Diamond State Clt Inc
Diamond State CLT, a nonprofit organization, aims to strengthen communities by creating and stewarding forever affordable housing for low-moderate income individuals and families. The unique approach of this organization lies in sharing equity gains between the CLT and the homeowner, thereby reducing the impact of land and location on housing costs. This method ensures that the homes remain affordable for subsequent buyers, benefiting generations to come. The organization recognizes the need for more affordable housing for modest income households and has a portfolio of 41 such homes across the state. In addition, Diamond State CLT advocates for the preservation of the funding it receives to make homes affordable, ensuring that future generations can also afford homeownership. The organization has successfully preserved over $4.2 million in public investment, demonstrating its commitment to its mission.
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Impact
August, 2024
Diamond State Clt Inc's impact lies in its mission to strengthen Delaware communities by creating and stewarding forever affordable housing for low to moderate-income individuals and families while promoting sustainable land use. By utilizing the unique method of sharing equity gains between the community land trust and the homeowner, Diamond State CLT makes housing more affordable, lessening the impact of land and locational factors.
With 41 homes in its portfolio throughout the state, Diamond State CLT recognizes the ongoing need for more affordable housing for modest-income households that will remain affordable for future generations. Additionally, the organization strives to preserve the funding it receives to make these homes affordable over the long-term, ensuring that future generations will also have access to affordable homeownership opportunities. Diamond State CLT has successfully preserved over $4.2 million in public investment towards its mission.
Overall, Diamond State CLT's impact is seen in its commitment to addressing housing affordability challenges, promoting sustainable land use, and creating a lasting positive impact on Delaware communities.
This information is meant to be a general summary of Diamond State Clt 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: $1,017
- Program Service Revenue: $17,560
- Gross Receipts: $44,965
Assets and Liabilities:
- Total Assets: $310,959
- Total Liabilities: $72,831
- Net Assets: $238,128
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
GROUND LEASE INCOME
Revenue
$17,560
Organization Details
Founding Year
2006
Principal Officer
Sarah Keifer
Main Address
PO BOX 1484, DOVER, DE, 19903
Website
www.diamondstateclt.orgNTEE Category
Code: L200 - Housing
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