Overview
What is Dakota Land Trust?
Dakota Land Trust is a community-focused nonprofit organization situated in Western South Dakota. Their primary mission is to create and preserve a lasting supply of affordable homes for families struggling to afford the housing market. They achieve this by providing equity funding to qualified homebuyers, effectively reducing the land cost from the purchase price. These homebuyers acquire a 99-year ground lease for the land their house sits on, with renewable options for future generations. The lease includes restrictions on resale prices to maintain affordability, balancing the homeowner's investment return and the next buyer's affordability. In addition, Dakota Land Trust works to combat community deterioration in economically disadvantaged neighborhoods by promoting housing development, rehabilitation, and maintenance. They provide opportunities for low-income residents and protect the natural environment, ensuring the long-term health and safety of Western South Dakota communities. As of December 31, 2022, they manage 29 properties, placing families in affordable homes on 26 of these properties.
Official website here: www.neighborworksdhr.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 1 Star (57%)
Dakota Land Trust has received a One-Star out of Four Star rating from Charity Navigator, indicating significant concerns regarding its financial management and program expenses. The overall score is derived solely from its Accountability & Finance status, where it performed well in areas such as board independence and having a conflict of interest policy. This demonstrates a commitment to governance and ethical practices within the organization.
However, the charity's financial ratios raise red flags. With a liabilities to assets ratio of 13.52% and a program expense ratio of only 20.16%, it appears that a minimal portion of its resources is directed toward its programs. These figures suggest that the organization may not be utilizing its funds effectively to achieve its mission, which is a critical aspect for potential donors to consider.
Despite the strengths in governance, the overall low rating reflects the need for improved financial health and greater investment in programmatic activities. As such, stakeholders should evaluate these factors when considering support for Dakota Land Trust.
This AI summary has been generated from information found on Charity Navigator.
Is Dakota Land Trust legitimate?
Dakota Land Trust is a legitimate nonprofit organization registered as a 501(c)(3) entity. Dakota 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.neighborworksdhr.org
What is the mission statement of Dakota Land Trust?
Dakota Land Trust, a community-focused organization, was established with the mission to create and preserve a lasting supply of affordable homes for households struggling to afford the housing market in western South Dakota. Their primary goal is to assist working families by providing equity funding, reducing the cost of homes for eligible homebuyers by eliminating the land cost from the purchase price. This is achieved through a 99-year ground lease agreement, ensuring the long-term affordability of the housing units. By implementing these measures, Dakota Land Trust aims to preserve the quality and affordability of housing for future generations. Additionally, the organization works towards community improvement by promoting the development, rehabilitation, and maintenance of decent housing in economically disadvantaged neighborhoods, creating economic opportunities for low-income residents, and protecting the natural environment. As of December 31, 2022, Dakota Land Trust manages 29 properties, with families residing in homes and land leases on 26 of these properties. Income from these leases is charged at below-market rates.
Official website here: www.neighborworksdhr.org
Who is the CEO of Dakota Land Trust?
Mike Walker is the Executive Di of Dakota Land Trust.
Official website here: www.neighborworksdhr.org
What is the revenue of Dakota Land Trust?
Dakota Land Trust's revenue in 2022 was $40,121.
Official website here: www.neighborworksdhr.org
Who are the executives of Dakota Land Trust and what are their salaries?
There 12 volunteers at Dakota Land Trust.
Here are 13 key members and their salaries:
- Compensation: $0
- Related: $79,564
- Other: $2,694
- 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: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.neighborworksdhr.org
Where can I find the form 990 for Dakota Land Trust?
Dakota Land Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.neighborworksdhr.org
Learn more at the official website: www.neighborworksdhr.org
Mission Statement of Dakota Land Trust
Dakota Land Trust, a community-driven organization, is established with the mission to create and maintain a perpetual supply of affordable homes for households priced out of the market in western South Dakota. The primary objective of Dakota Land Trust is to provide voluntary assistance for working families by funding equity to permanently reduce the cost of homes for qualified homebuyers, eliminating the land cost from the purchase price.
By implementing a 99-year ground lease agreement, Dakota Land Trust allows limited-income homebuyers to purchase their homes and secure a lease for the land their homes are built on. This lease is assignable to qualified heirs and renewable for a second 99-year term, ensuring the long-term affordability of housing for future generations. The organization aims to balance the goals of providing a fair return on the initial home investment while preserving the affordability of the housing unit for the next buyer, avoiding the need for additional subsidy.
In addition to its primary mission, Dakota Land Trust addresses community deterioration in economically disadvantaged neighborhoods by promoting the development, rehabilitation, and maintenance of decent housing. The organization supports economic opportunities for low-income residents, makes land available for projects and activities that improve the quality of life, assists residents in improving their community's safety and well-being, and protects the natural environment. At December 31, 2022, Dakota Land Trust holds 29 properties with families residing in homes and land leases on 26 of these properties. Income from these leases is charged at below-market rates.
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
Dakota Land Trust's impact lies in its creation and preservation of a permanent supply of affordable homes for low-income and moderate-income households in the communities of western South Dakota. By providing equity funding to reduce the cost of homes for qualified homebuyers and implementing ground lease agreements with restrictions on resale prices, Dakota Land Trust ensures that the benefits of affordable housing investments are preserved for future generations. Through its programs, Dakota Land Trust not only improves the quality and affordability of housing for residents but also addresses community deterioration in economically disadvantaged neighborhoods by promoting economic opportunities, improving safety and well-being, and protecting the natural environment. As of December 31, 2022, Dakota Land Trust holds 29 properties, with families placed in homes and land leases on 26 of them, charging below-market rates for income from these leases.
This information is meant to be a general summary of Dakota 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: $12,784
- Program Service Revenue: $17,270
- Gross Receipts: $99,760
Assets and Liabilities:
- Total Assets: $661,331
- Total Liabilities: $89,460
- Net Assets: $571,871
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.
LEASE INCOME
Revenue
$17,270
Organization Details
Founding Year
2007
Phone
(605) 578-1401Principal Officer
Mike Walker
Main Address
795 MAIN ST, DEADWOOD, SD, 57732
Website
www.neighborworksdhr.orgNTEE Category
Code: L80 - Housing
If you are a representative of Dakota 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.