Overview
What is Albany Community Land Trust?
Albany Community Land Trust, situated in Albany, New York, is a dedicated nonprofit organization with a mission to preserve and maintain affordable housing for low-income and disadvantaged individuals and families. They accomplish this by acquiring and rehabilitating vacant buildings in the neighborhoods of West Hill, Arbor Hill, and the South End. Using loans and grant resources, they bring these properties back to productive use and continue to own and manage them as affordable rental properties. In 2022, their efforts helped 60 families. With a small yet dedicated workforce of one, Albany Community Land Trust significantly contributes to the community by providing affordable housing solutions.
Official website here: www.albanyclt.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 95% (Four-Star out of Four Stars)
Albany Community Land Trust has received a commendable Four-Star rating from Charity Navigator, which reflects its high standards in accountability and finance. The organization achieved a remarkable score of 95%, indicating strong financial health and operational transparency. This score is primarily derived from their robust performance in accountability and finance metrics, highlighting the trustworthiness of the organization.
Strengths of Albany Community Land Trust include a fully independent board, with all members meeting the criteria for independence. The organization has also established comprehensive policies, including those for conflict of interest and whistleblower protections, which contribute to its operational integrity. The program expense ratio is notably high, indicating that a significant portion of financial resources is devoted directly to programs, affirming the organization's commitment to its mission.
While the data does not indicate any material diversion of assets or financial mismanagement, the organization maintains a solid liabilities to assets ratio, demonstrating a balanced financial position. Overall, Albany Community Land Trust exemplifies effective governance and responsible financial stewardship, making it a reliable choice for donors seeking to support community land initiatives.
This AI summary has been generated from information found on Charity Navigator.
Is Albany Community Land Trust legitimate?
Albany Community Land Trust is a legitimate nonprofit organization registered as a 501(c)(3) entity. Albany 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: $8,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.albanyclt.com
What is the mission statement of Albany Community Land Trust?
The Albany Community Land Trust is committed to preserving and maintaining affordable housing for low-income and disadvantaged individuals and families. Through acquiring and rehabilitating vacant buildings in underserved neighborhoods, they bring these properties back to productive use and manage them as affordable rental properties. In 2022, their efforts helped provide housing for 60 families, demonstrating their dedication to this mission. The organization utilizes loan and grant resources to ensure the sustainability and accessibility of affordable housing in the community.
Official website here: www.albanyclt.com
Who is the CEO of Albany Community Land Trust?
Susan Cotner is the Board Member of Albany Community Land Trust.
Official website here: www.albanyclt.com
What is the revenue of Albany Community Land Trust?
Albany Community Land Trust's revenue in 2022 was $1,054,157.
Official website here: www.albanyclt.com
Who are the executives of Albany Community Land Trust and what are their salaries?
The average compensation at Albany Community Land Trust during 2022 was $8,000. There is 1 employee and 11 volunteers at Albany Community Land Trust.
Here are 10 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
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $8,000
- Related: $0
- Other: $0
Official website here: www.albanyclt.com
Where can I find the form 990 for Albany Community Land Trust?
Albany Community Land Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.albanyclt.com
Learn more at the official website: www.albanyclt.com
Mission Statement of Albany Community Land Trust
Albany Community Land Trust, a nonprofit organization, is committed to preserving and maintaining affordable housing for low-income and disadvantaged individuals and families. Their mission is to revitalize vacant buildings in the low-income neighborhoods of West Hill, Arbor Hill, and the South End in Albany, New York. They achieve this by utilizing loan and grant resources to bring these properties back to productive use. Once the rehabilitation is complete, Albany Community Land Trust continues to own and manage these properties as affordable rental properties. In 2022, this initiative helped provide housing for 60 families, demonstrating their dedication to enhancing living conditions for those in need.
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
October, 2024
The Albany Community Land Trust (ACLT) significantly impacts the community by preserving and maintaining affordable housing for low-income and disadvantaged individuals and families in Albany, New York. By acquiring and rehabilitating vacant buildings in neighborhoods such as West Hill, Arbor Hill, and the South End, ACLT revitalizes these areas and addresses the pressing need for affordable housing.
Through the strategic use of loans and grant resources, ACLT brings properties back to productive use, transforming them into affordable rental homes. In 2022 alone, this initiative supported 60 families, providing them with stable housing and contributing to the overall well-being of the community. The ongoing management and ownership of these properties ensure long-term affordability, fostering a sense of security and stability for residents. Overall, ACLT’s efforts directly enhance the quality of life in Albany by making housing accessible and promoting a sense of community among low-income families.
This information is meant to be a general summary of Albany 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: $36,321
- Program Service Revenue: $551,196
- Gross Receipts: $1,147,836
Assets and Liabilities:
- Total Assets: $3,293,149
- Total Liabilities: $1,676,857
- Net Assets: $1,616,292
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROPERTY RENTAL AND RE
Revenue
$551,196
Organization Details
Founding Year
1987
Phone
(518) 426-1296Principal Officer
Susan Cotner
Main Address
255 ORANGE STREET, ALBANY, NY, 12210
Website
www.albanyclt.comNTEE Category
Code: L200 - Housing
If you are a representative of Albany Community Land Trust 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.