Overview
What is Land Bank Twin Cities Inc?
Land Bank Twin Cities Inc, situated in St. Paul, Minnesota, is a nonprofit organization that specializes in land banking. Their primary mission is to harness strategic real estate opportunities, focusing on benefiting individuals with low to moderate incomes, particularly those from underrepresented communities and populations facing barriers. By acquiring, holding, and reselling properties in the seven-county metropolitan area, Land Bank Twin Cities Inc facilitates sales to approved non-profit and socially responsible for-profit developers, service providers, community businesses, and governments. This approach helps the organization advance its mission, ultimately contributing to community development and social equity in the Twin Cities area.
Official website here: www.landbanktwincities.org
What are the reviews and ratings of this charity?
**Charity Rating:** 85% (Three-Star out of Four Star rating on Charity Navigator)
Land Bank Twin Cities Inc has received an 85% score on Charity Navigator, emphasizing strong accountability and financial management. The organization is recognized for having a fully independent board and rigorous oversight practices, which are critical indicators of prudent governance. Its program expense ratio and fundraising efficiency are commendable, suggesting effective resource utilization in its activities.
Despite these strengths, the organization is noted for a liabilities-to-assets ratio of 73.20%, which could raise questions about financial stability. This aspect, along with the absence of scoring in impact measurement, culture and community, and leadership adaptability, indicates areas where the organization may need to improve transparency or operational effectiveness.
User reviews from GreatNonprofits could not be fetched, thus limiting insights into personal experiences and sentiments about the organization. However, the robust financial score coupled with a focus on accountability presents Land Bank Twin Cities Inc as a reliable nonprofit organization in the community.
This AI summary has been generated from information found on Charity Navigator.
Is Land Bank Twin Cities Inc legitimate?
Land Bank Twin Cities Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Land Bank Twin Cities 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: $463,591
Professional Fundraising Fees: $66,000
Other Salaries and Wages: $240,847
For more financial information, click here
Official website here: www.landbanktwincities.org
What is the mission statement of Land Bank Twin Cities Inc?
Land Bank Twin Cities Inc, as part of its mission, focuses on capturing strategic real estate opportunities to benefit individuals with low to moderate income levels. This organization prioritizes people of color and populations facing barriers. Through land banking, Land Bank Twin Cities Inc acquires, holds, and resells strategic properties within the metropolitan area. The goal is to sell these properties to approved non-profit and socially responsible for-profit developers, non-profit service providers, community businesses, and governments. The objective is to advance the mission of Land Bank Twin Cities Inc, which is to benefit the community by providing resources to those in need.
Official website here: www.landbanktwincities.org
What is the revenue of Land Bank Twin Cities Inc?
Land Bank Twin Cities Inc's revenue in 2023 was $5,868,572.
Official website here: www.landbanktwincities.org
Who are the executives of Land Bank Twin Cities Inc and what are their salaries?
The average compensation at Land Bank Twin Cities Inc during 2023 was $100,634. There are 7 employees and 28 volunteers at Land Bank Twin Cities Inc.
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Official website here: www.landbanktwincities.org
Where can I find the form 990 for Land Bank Twin Cities Inc?
Land Bank Twin Cities Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.landbanktwincities.org
Learn more at the official website: www.landbanktwincities.org
Mission Statement of Land Bank Twin Cities Inc
Land Bank Twin Cities, Inc., a non-profit organization, is committed to seizing strategic real estate opportunities that benefit individuals with low to moderate incomes. The organization prioritizes people of color and populations facing barriers, ensuring that these groups have access to beneficial property developments. Through land banking, Land Bank Twin Cities, Inc. (LBTC) acquires, holds, and resells strategic properties within the seven-county metropolitan area. The organization sells these properties to approved non-profit and socially responsible for-profit developers, non-profit service providers, community businesses, and governments. By doing so, LBTC advances its mission of benefiting those with limited resources, thereby contributing to a more equitable community.
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Impact
July, 2024
Land Bank Twin Cities Inc's impact is centered around capturing strategic real estate opportunities to benefit people with low to moderate incomes, prioritizing people of color and populations facing barriers. Through land banking activities in the seven-county metropolitan area, Land Bank Twin Cities acquires, holds, and resells properties to approved nonprofit and socially responsible for-profit developers, nonprofit service providers, community businesses, and governments. This approach advances the mission of Land Bank Twin Cities to create affordable housing opportunities and promote economic inclusion for marginalized communities.
This information is meant to be a general summary of Land Bank Twin Cities 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 2023.
- Investment Income: $1,466,678
- Program Service Revenue: $3,159,516
- Gross Receipts: $8,708,572
Assets and Liabilities:
- Total Assets: $31,192,674
- Total Liabilities: $22,836,353
- Net Assets: $8,356,321
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$2,129,854
PROGRAM INTEREST
Revenue
$613,046
PROGRAM FEES
Revenue
$416,616
Organization Details
Founding Year
2015
Principal Officer
Thomas Streitz
Website
www.landbanktwincities.orgNTEE Category
Code: L80 - Housing
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