Overview
What is Essex Community Land Trust Inc?
Essex Community Land Trust Inc is a nonprofit organization based in Montclair, New Jersey, specifically at 60 Fullerton Avenue Suite 202. Their primary mission is to preserve the affordability of homes built on land they hold in trust, ensuring that low to moderate income buyers succeed as homeowners and avoid foreclosure. They achieve this through pre and post-purchase stewardship, thereby preserving public dollars used for housing construction. By offering this service, Essex Community Land Trust Inc aims to strengthen communities in Essex County, providing financially empowering opportunities for working families and individuals.
Official website here: www.essexclt.org/
What are the reviews and ratings of this charity?
Charity Navigator Rating: 83%, Three-Star out of Four Star rating. This score reflects the nonprofit's strong performance in accountability and finance, indicating a high level of fiscal responsibility and transparency in their operations. The organization is evaluated based on various criteria, achieving full marks in several key areas such as having a majority of independent board members and no material diversion of assets.
Essex Community Land Trust Inc's governance is solid, highlighted by a fully independent board comprising ten members, and strong adherence to policies that promote accountability. Their financial management is also commendable, with 100% of expenses directed towards programs, demonstrating a strong commitment to their mission.
However, the organization is noted to be missing a whistleblower policy and document retention policy, which are important for ensuring comprehensive governance practices. Despite these limitations, their overall strong performance in accountability and finance suggests they are a reliable and ethical nonprofit.
This AI summary has been generated from information found on Charity Navigator.
Is Essex Community Land Trust Inc legitimate?
Essex Community Land Trust Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Essex Community 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.
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Official website here: www.essexclt.org/
What is the mission statement of Essex Community Land Trust Inc?
The Essex Community Land Trust is an organization committed to strengthening communities by providing permanently affordable housing and financial empowerment opportunities for working families and individuals across Essex County. By holding land in trust, the organization ensures the perpetual affordability of homes built on the land by community developers, preserving public dollars used for housing reconstruction and preventing foreclosures among low to moderate income buyers through pre and post-purchase stewardship.
Official website here: www.essexclt.org/
Who is the CEO of Essex Community Land Trust Inc?
Harold Simon is the Board Member of Essex Community Land Trust Inc.
Official website here: www.essexclt.org/
What is the revenue of Essex Community Land Trust Inc?
Essex Community Land Trust Inc's revenue in 2022 was $197,675.
Official website here: www.essexclt.org/
Who are the executives of Essex Community Land Trust Inc and what are their salaries?
Here are 10 key members and their salaries:
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Official website here: www.essexclt.org/
Where can I find the form 990 for Essex Community Land Trust Inc?
Essex Community Land Trust Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.essexclt.org/
Learn more at the official website: www.essexclt.org/
Mission Statement of Essex Community Land Trust Inc
Essex Community Land Trust Inc, a dedicated organization, strives to fortify communities by offering permanently affordable housing and financial empowerment opportunities to working families and individuals across Essex County. Their mission is multifaceted, aiming to preserve public funds used for housing construction and reconstruction, ensuring that low to moderate income buyers sustain their homes and do not face foreclosure. By providing pre and post-purchase stewardship, Essex Community Land Trust Inc plays a crucial role in safeguarding the affordability of homes built on the land it holds in trust, thereby contributing positively to the communities they serve.
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Impact
October, 2024
Essex Community Land Trust Inc plays a vital role in ensuring long-term housing affordability and community stability in Montclair, NJ, and the surrounding areas. By holding land in trust, the organization promotes the construction of homes that remain affordable for low to moderate-income families. This model not only safeguards public funds invested in housing development but also prevents the cycle of foreclosure, offering essential pre and post-purchase support to help new homeowners succeed.
The Trust's commitment to financial empowerment strengthens communities by providing pathways for working families and individuals to attain stable and affordable housing. Their efforts contribute to a sense of belonging and security, fostering community resilience in Essex County. Through these initiatives, the Essex Community Land Trust not only addresses immediate housing needs but also invests in the long-term health and prosperity of the local community.
This information is meant to be a general summary of Essex Community 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.
- Program Service Revenue: $3,710
- Gross Receipts: $197,675
Assets and Liabilities:
- Total Assets: $716,931
- Total Liabilities: $0
- Net Assets: $716,931
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM SERVICE REVENUE
Revenue
$3,710
Organization Details
Founding Year
2012
Phone
(973) 306-4738Principal Officer
Harold Simon
Main Address
60 FULLERTON AVENUE SUITE 202, MONTCLAIR, NJ, 07042
Website
www.essexclt.org/NTEE Category
Code: L80 - Housing
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