Overview
What is Madison Area Clt Corporation?
Madison Area Clt Corporation is a nonprofit organization based in Madison, Wisconsin, specifically at 902 Royster Oaks Dr STE 105. Their primary mission is to benefit historically marginalized populations with the lowest incomes by liberating land and preserving urban spaces. By doing so, they create deeply and permanently affordable homeownership opportunities for those who are often exploited. In 2022, they expanded their program by adding a new home and initiated a maintenance services program to support low-income homeowners in their ownership program. Overall, Madison Area Clt Corporation stewards 62 affordable homes and the land beneath them, as well as conserving agricultural and market-rate lands, ensuring that these resources remain accessible to the community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79%, Three-Star out of Four Star Rating
Madison Area Clt Corporation holds a Three-Star rating from Charity Navigator, indicating a decent level of accountability and financial health. The overall score is derived solely from its Accountability & Finance metric, which reflects the organization’s commitment to transparency and responsible management of resources. The 79% score suggests that while the organization is doing well, there's room for improvement in financial sustainability.
The nonprofit excels in several areas, featuring an entirely independent board, a strong program expense ratio of 83.77%, and comprehensive policies on conflicts of interest and whistleblowing. These strengths contribute to a positive assessment of their governance and operational practices, establishing trust among donors and stakeholders.
However, the organization has a concerning liability to assets ratio of 100.16%, indicating that its liabilities exceed its assets. This financial imbalance may raise questions about its long-term viability and ability to sustain its programs. Overall, while the Madison Area Clt Corporation demonstrates effective governance, addressing its financial liabilities will be crucial for its continued success.
This AI summary has been generated from information found on Charity Navigator.
Is Madison Area Clt Corporation legitimate?
Madison Area Clt Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Madison Area Clt Corporation 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: $92,028
For more financial information, click here
What is the mission statement of Madison Area Clt Corporation?
The Madison Area Community Land Trust (MACLT) aims to liberate land for historically marginalized populations with low incomes, preserving urban spaces for communal use. Its mission is to create deeply and permanently affordable homeownership opportunities for these often exploited individuals. MACLT manages 62 such homes, ensuring their affordability through lease terms with the land trust. Additionally, MACLT oversees 10 market-rate homes and conservation/agricultural land. In 2022, the corporation expanded its program with an additional home and initiated a maintenance services program for low-income homeowners.
Who is the CEO of Madison Area Clt Corporation?
Karen Von Huene is the Executive Director of Madison Area Clt Corporation.
What is the revenue of Madison Area Clt Corporation?
Madison Area Clt Corporation's revenue in 2022 was $524,628.
Who are the executives of Madison Area Clt Corporation and what are their salaries?
The average compensation at Madison Area Clt Corporation during 2022 was $46,014. There are 2 employees and 7 volunteers at Madison Area Clt Corporation.
Here are 8 key members and their salaries:
- Compensation: $49,436
- Related: $0
- Other: $4,617
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- 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
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Madison Area Clt Corporation?
Madison Area Clt Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Madison Area Clt Corporation
Madison Area CLT Corporation, in its mission, seeks to liberate land for historically marginalized populations with low incomes. The organization aims to preserve urban spaces for community use and create deeply and permanently affordable homeownership opportunities for individuals who are often exploited. Through its ongoing stewardship, Madison Area CLT Corporation manages 62 homes and the land beneath them, ensuring their affordability according to the lease terms with the land trust. Additionally, the corporation stewards the land under 10 market-rate homes and conservation and agricultural land. In 2022, the organization expanded its reach by adding a new home to its program and initiating a maintenance services program, which provides funds for maintenance to the low-income homeowners in its homeownership program. By executing these missions, Madison Area CLT Corporation actively contributes to the betterment of underprivileged communities, providing them with affordable housing and community spaces.
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Impact
July, 2024
Madison Area Clt Corporation's impact is significant in liberating land for historically marginalized populations at the lowest incomes possible. By preserving urban space for community use and creating deeply and permanently affordable homeownership opportunities, this organization plays a crucial role in providing housing solutions for those typically exploited. With ongoing stewardship of homes and land, including market-rate homes, conservation, and agricultural land, Madison Area Clt Corporation is dedicated to making a tangible difference in the lives of individuals and families in Madison, WI. The addition of homes to their program and the initiation of a maintenance services program further demonstrate their commitment to achieving their mission of equitable housing access.
This information is meant to be a general summary of Madison Area Clt Corporation. 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.
- Program Service Revenue: $54,009
- Gross Receipts: $524,628
Assets and Liabilities:
- Total Assets: $3,141,783
- Total Liabilities: $3,146,917
- Net Assets: -$5,134
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Rental income
Revenue
$49,514
Gain on sale of
Revenue
$4,495
Organization Details
Founding Year
1990
Principal Officer
Karen Von Huene
Main Address
902 Royster Oaks Dr STE 105, Madison, WI, 53714
NTEE Category
Code: L20Z - Housing
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