Overview
What is Lexington Community Land Trust?
The Lexington Community Land Trust is a nonprofit organization situated in Lexington, Kentucky. Its primary focus is to develop and preserve low-income and affordable housing. The organization has undertaken projects for the creation of affordable ownership homes and collaborated with displaced low-income residents to facilitate their transition into these new homes. Beyond its immediate mission, the Lexington Community Land Trust aims to expand its efforts in managing and preserving affordable housing not only in the redeveloped mitigation area of the Newtown Pike Extension but also in broader Lexington and Fayette County in the future. The organization's mission is to steward the land and ensure affordable housing for the community. With a dedicated workforce of 4 individuals, it is committed to enhancing living conditions for low-income families in the area.
Official website here: www.lexingtonclt.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 90%, Four-Star out of Four Stars
The Lexington Community Land Trust has received a strong rating of 90% from Charity Navigator, which translates to a Four-Star rating. This high score reflects the organization's robust accountability and finance practices, ensuring transparency and responsible management of funds. The overall score is derived from the Accountability & Finance category, where the trust excels particularly in having a majority of independent board members and effectively documenting board meetings.
Strengths of the organization include a high program expense ratio of 83.91%, indicating that a significant portion of its resources is directed towards its programs rather than administrative costs. The trust has also established comprehensive policies regarding conflicts of interest and whistleblower protections, which underscores its commitment to ethical governance. Additionally, the absence of any material diversion of assets reinforces the trust's dedication to maintaining integrity in its operations.
However, while the rating reflects strong financial health and governance, it is important for potential supporters to consider the specific programs and impacts of the Lexington Community Land Trust. Understanding how effectively the organization addresses community needs can provide a fuller picture of its overall effectiveness and mission.
This AI summary has been generated from information found on Charity Navigator.
Is Lexington Community Land Trust legitimate?
Lexington Community Land Trust is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lexington Community 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: $92,722
For more financial information, click here
Official website here: www.lexingtonclt.org
What is the mission statement of Lexington Community Land Trust?
The Lexington Community Land Trust's mission is centered around stewarding land and preserving the affordability of housing. Specifically, it aims to manage and maintain affordable housing in the redeveloped mitigation area of the Newtown Pike Extension, with plans to expand this initiative to other parts of Greater Lexington and Fayette County in the future. To achieve this, the organization has developed low-income affordable housing and is actively planning for the addition of more low to moderate-income affordable ownership homes. Furthermore, the trust works closely with displaced low-income residents to help them prepare for transitions to their new permanently affordable housing units.
Official website here: www.lexingtonclt.org
Who is the CEO of Lexington Community Land Trust?
Joshua T Fain is the President of Lexington Community Land Trust.
Official website here: www.lexingtonclt.org
What is the revenue of Lexington Community Land Trust?
Lexington Community Land Trust's revenue in 2022 was $919,698.
Official website here: www.lexingtonclt.org
Who are the executives of Lexington Community Land Trust and what are their salaries?
The average compensation at Lexington Community Land Trust during 2022 was $23,180. There are 4 employees at Lexington Community Land Trust.
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- Compensation: $83,325
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Official website here: www.lexingtonclt.org
Where can I find the form 990 for Lexington Community Land Trust?
Lexington Community Land Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.lexingtonclt.org
Learn more at the official website: www.lexingtonclt.org
Mission Statement of Lexington Community Land Trust
Lexington Community Land Trust, as an organization, is committed to stewarding the land and managing the affordability of housing. Their mission extends beyond the redeveloped mitigation area of the Newtown Pike Extension Area and aims to preserve affordable housing in greater Lexington and Fayette County in the future. The land trust has been instrumental in developing low-income, affordable housing and planning for additional development of low to moderate-income affordable ownership homes. Furthermore, they have worked closely with displaced low-income residents, helping them prepare for the transition to their new, permanently affordable housing. In essence, Lexington Community Land Trust is dedicated to preserving the affordability of housing and ensuring that low-income residents have access to suitable living spaces.
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Impact
July, 2024
Lexington Community Land Trust has made a significant impact in stewarding land and preserving the affordability of housing in the redeveloped mitigation area of the Newtown Pike Extension area and beyond in Greater Lexington and Fayette County. The organization has developed low-income affordable housing, initiated planning for additional development of low to moderate-income affordable ownership homes, and assisted displaced low-income residents in transitioning to new permanently affordable housing options. This impact reflects the organization's commitment to addressing housing affordability challenges and promoting sustainable communities in Lexington and the surrounding areas.
This information is meant to be a general summary of Lexington Community 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: $1,857
- Program Service Revenue: $713,452
- Gross Receipts: $919,698
Assets and Liabilities:
- Total Assets: $2,384,891
- Total Liabilities: $190,580
- Net Assets: $2,194,311
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
HOME SALES & SUBSIDIES
Revenue
$706,918
LAND LEASE
Revenue
$6,534
Organization Details
Founding Year
2008
Phone
(859) 303-5223Principal Officer
Joshua T Fain
Main Address
PO BOX 171, LEXINGTON, KY, 40588
Website
www.lexingtonclt.orgNTEE Category
Code: L20 - Housing
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