Overview
What is Commonwealth Land Trust Inc?
Commonwealth Land Trust Inc is a nonprofit organization situated in Roxbury, Massachusetts, specifically at 1059 Tremont Street Suite 2. Their primary mission is to provide safe and affordable housing for society's most vulnerable populations, including low-income families, single parents, the mentally and physically disabled, the homeless, and individuals with HIV and AIDS. Their operations encompass the management of both residential and commercial rental properties, catering to these groups. The organization's asset management business oversees these properties to ensure they are well-maintained and functioning effectively. With a workforce of 65 employees, Commonwealth Land Trust Inc plays a crucial role in addressing housing needs within its community.
Official website here: www.commonwealthlandtrust.org
What are the reviews and ratings of this charity?
Charity Navigator Rating 88% - Three-Star out of Four Star Rating
Commonwealth Land Trust Inc has earned a solid Three-Star rating from Charity Navigator, indicating a commendable level of transparency and financial accountability. With an Accountability & Finance score of 83% and a Culture & Community score of 17%, the organization demonstrates strong governance practices, particularly with 90% of its board members being independent. The absence of material asset diversion and well-structured policies further enhances its credibility.
The organization shows a high commitment to program expenses, with an impressive 80.19% of its budget allocated to its programs. Feedback mechanisms are robust, scoring a perfect 100 in both collection and usage, highlighting the organization's dedication to incorporating constituent input into their operations. This suggests that Commonwealth Land Trust is responsive to the needs of the community it serves.
However, there are areas for improvement, particularly in its equity strategies. While the score of 83 reflects a decent effort, the equity data and policies show lower scores, indicating potential gaps that could be addressed to further strengthen the organization's impact and inclusivity. Overall, Commonwealth Land Trust Inc appears to be a reliable nonprofit, with effective financial practices and community engagement, yet it has room to grow in its equity initiatives.
This AI summary has been generated from information found on Charity Navigator.
Is Commonwealth Land Trust Inc legitimate?
Commonwealth Land Trust Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Commonwealth 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $2,132,875
For more financial information, click here
Official website here: www.commonwealthlandtrust.org
What is the mission statement of Commonwealth Land Trust Inc?
Commonwealth Land Trust Inc's mission is centered around providing safe and affordable housing for those most in need within society. This includes low-income families, single parents, individuals with mental and physical disabilities, the homeless, and people living with HIV and AIDS. To accomplish this, the organization engages in real estate operations, overseeing the management of residential and commercial rental properties serving the needs of homeless and low to moderate income families.
Official website here: www.commonwealthlandtrust.org
Who is the CEO of Commonwealth Land Trust Inc?
Iva Comey is the President/Ceo of Commonwealth Land Trust Inc. The CEO's salary of Commonwealth Land Trust Inc is $180,229 and their total compensation is $180,768.
Official website here: www.commonwealthlandtrust.org
What is the revenue of Commonwealth Land Trust Inc?
Commonwealth Land Trust Inc's revenue in 2022 was $7,239,229.
Official website here: www.commonwealthlandtrust.org
Who are the executives of Commonwealth Land Trust Inc and what are their salaries?
The average compensation at Commonwealth Land Trust Inc during 2022 was $32,813. There are 65 employees at Commonwealth Land Trust Inc.
Here are 14 key members and their salaries (Commonwealth Land Trust Inc's CEO's salary is $180,229 and their total compensation is $180,768):
- Compensation: $180,229
- Related: $0
- Other: $539
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $124,435
- Related: $0
- Other: $1,608
- Compensation: $112,201
- Related: $0
- Other: $1,341
- Compensation: $111,838
- Related: $0
- Other: $201
- Compensation: $107,237
- Related: $0
- Other: $1,281
Official website here: www.commonwealthlandtrust.org
Where can I find the form 990 for Commonwealth Land Trust Inc?
Commonwealth Land Trust Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.commonwealthlandtrust.org
Learn more at the official website: www.commonwealthlandtrust.org
Mission Statement of Commonwealth Land Trust Inc
Commonwealth Land Trust Inc, a nonprofit organization, is dedicated to providing safe and affordable housing for some of society's most vulnerable individuals. This includes low-income families, single parents, individuals with mental and physical disabilities, the homeless, and people living with HIV and AIDS. In its mission to address this critical need, the organization engages in real estate operations. This encompasses its asset management business, which oversees the operations of both residential and commercial rental properties, catering to homeless and low to moderate income families. By offering secure housing solutions, Commonwealth Land Trust Inc aims to contribute positively to its community and ensure that everyone has a roof over their heads, regardless of their circumstances.
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Impact
October, 2024
Commonwealth Land Trust Inc. significantly impacts the community by addressing the critical need for affordable housing, particularly for the most vulnerable populations. By managing residential and commercial rental properties, it directly provides safe and affordable housing options for low-income families, single-parent households, and individuals facing various challenges, including mental and physical disabilities, homelessness, and health issues such as HIV and AIDS.
Through its asset management operations, Commonwealth Land Trust Inc. not only helps create stable living conditions for those in need, but also fosters a sense of community and belonging among residents in Roxbury, MA. This mission plays a vital role in improving the quality of life for many, helping to break the cycle of poverty and homelessness while promoting inclusivity and support for marginalized groups. The organization’s work underscores the importance of accessible housing in enhancing social well-being and stability within the community.
This information is meant to be a general summary of Commonwealth 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: $853
- Program Service Revenue: $3,579,619
- Gross Receipts: $7,239,229
Assets and Liabilities:
- Total Assets: $30,569,151
- Total Liabilities: $18,428,875
- Net Assets: $12,140,276
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$2,528,635
MANAGEMENT FEE
Revenue
$576,267
INTEREST PROGRAMATIC
Revenue
$424,697
DEVELOPMENT FEE
Revenue
$42,705
PROGRAM SERVICE FEES
Revenue
$7,315
Organization Details
Founding Year
1985
Phone
(617) 445-4075Principal Officer
Iva Comey
Main Address
1059 TREMONT STREET SUITE 2, ROXBURY, MA, 02120
NTEE Category
Code: L200 - Housing
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