Overview
What is Chinatown Community Land Trust Inc?
Chinatown Community Land Trust Inc, based in Boston, Massachusetts, is a dedicated nonprofit organization with a focus on preserving affordable homes and small business spaces within the Chinatown community. Established to combat the trend of property flipping and conversion into short-term rentals, the trust aims to secure the future of this historic district as a residential area for working-class families and a cultural hub for the Chinese community. To achieve this goal, they engage local residents in participatory planning, advocate for environmental and energy justice, and manage shared spaces and resources. In recent years, they have sold seven affordable home ownership units to first-time homebuyers and have more in the pipeline. With a single employee, Chinatown Community Land Trust Inc plays a crucial role in safeguarding the legacy and affordability of Chinatown.
Official website here: www.chinatownclt.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Star rating)
The Chinatown Community Land Trust Inc has achieved an impressive Four-Star rating from Charity Navigator, reflecting a strong commitment to accountability and transparency in its operations. This rating is based entirely on its high scores in the Accountability & Finance beacon, indicating solid financial management practices and responsible governance.
Strengths of the organization include a fully independent board with all members meeting standards for independence and a well-managed financial structure, evidenced by a low liabilities to assets ratio of 5.32%. The trust also demonstrates excellent program spending, with 91.64% of its expenses directed towards its programs. Furthermore, the organization adheres to best practices, having policies in place for conflict of interest, whistleblowing, and document retention.
There are no noted limitations in the data regarding the Chinatown Community Land Trust Inc, which underscores its strong performance and reliability as a nonprofit. The comprehensive oversight and financial practices contribute to its positive reputation, making it a trustworthy organization to support.
This AI summary has been generated from information found on Charity Navigator.
Is Chinatown Community Land Trust Inc legitimate?
Chinatown Community Land Trust Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Chinatown 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $58,742
Professional Fundraising Fees: $0
Other Salaries and Wages: $14,243
For more financial information, click here
Official website here: www.chinatownclt.org
What is the mission statement of Chinatown Community Land Trust Inc?
The Chinatown Community Land Trust (CHINATOWN CLT) is dedicated to securing the future of Chinatown as a neighborhood for working-class families and a significant hub for the Chinese community. Their mission involves promoting community control over the land, ensuring development without displacement, providing permanently affordable housing, and establishing shared neighborhood spaces, aligning with the Chinatown Master Plan. Additionally, CHINATOWN CLT engages in preserving small properties as affordable homes, collaborating with community members in participatory planning for a historical and cultural district, advocating for environmental and energy justice through open space improvement and a local energy microgrid, and overseeing the governance of shared spaces and resources.
Official website here: www.chinatownclt.org
Who is the CEO of Chinatown Community Land Trust Inc?
Lydia Lowe is the Executive Di of Chinatown Community Land Trust Inc.
Official website here: www.chinatownclt.org
What is the revenue of Chinatown Community Land Trust Inc?
Chinatown Community Land Trust Inc's revenue in 2022 was $698,181.
Official website here: www.chinatownclt.org
Who are the executives of Chinatown Community Land Trust Inc and what are their salaries?
The average compensation at Chinatown Community Land Trust Inc during 2022 was $72,985. There is 1 employee and 67 volunteers at Chinatown Community Land Trust Inc.
Here are 8 key members and their salaries:
- Compensation: $58,750
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- Other: $0
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- Other: $0
Official website here: www.chinatownclt.org
Where can I find the form 990 for Chinatown Community Land Trust Inc?
Chinatown Community Land Trust Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.chinatownclt.org
Learn more at the official website: www.chinatownclt.org
Mission Statement of Chinatown Community Land Trust Inc
Chinatown Community Land Trust, or Chinatown CLT, is an organization committed to securing a sustainable future for Chinatown as a community for working-class families and a significant hub for the Chinese community. Their mission revolves around three key aspects: ensuring community control over land, promoting development without displacement, establishing permanently affordable housing, and managing shared neighborhood spaces, all in line with the Chinatown Master Plan.
In essence, Chinatown CLT strives to preserve small properties as permanently affordable homes, giving community members an active role in the planning process for a historic and culturally significant Chinatown district. They advocate for environmental and energy justice by enhancing open spaces and establishing a local energy microgrid, aiming to make the community more eco-friendly and energy-efficient. Lastly, Chinatown CLT governs shared spaces and resources, fostering a sense of community and ensuring equitable access to essential amenities.
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Impact
July, 2024
Chinatown Community Land Trust Inc's impact includes the preservation of small properties as permanently affordable homes, involving community members in participatory planning for a Chinatown historic and cultural district, organizing for environmental and energy justice through open space improvement, and governance of shared spaces and resources. The organization focuses on preserving row houses to ensure permanent affordability, preventing speculative market activities that threaten the neighborhood's vulnerable residents. By holding 99-year ground leases for these properties, Chinatown CLT has already sold affordable homeownership units to first-time buyers and continues to work towards maintaining a working-class community for generations to come in Boston, MA.
This information is meant to be a general summary of Chinatown 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: $3,050
- Gross Receipts: $698,181
Assets and Liabilities:
- Total Assets: $1,368,388
- Total Liabilities: $870,333
- Net Assets: $498,055
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CONSULTING FEES
Revenue
$3,050
Organization Details
Founding Year
2015
Phone
(617) 259-1503Principal Officer
Lydia Lowe
Main Address
28 ASH STREET, BOSTON, MA, 02111
Website
www.chinatownclt.orgNTEE Category
Code: A23 - Arts
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