Overview
What is Elevation Community Land Trust?
Elevation Community Land Trust (ECLT) is a Colorado-based nonprofit organization headquartered in Denver, dedicated to providing affordable homeownership opportunities for eligible low-to-moderate income families. Using the community land trust model, ECLT acquires homes, rehabilitates them if necessary, and sells the improvements to qualified households while keeping the land in trust as a community asset. In doing so, ECLT ensures that the homes in its portfolio remain affordable for future generations. In 2022, ECLT sold 87 homes to qualified buyers, representing a substantial investment of $1,581,597 as a subsidy to maintain their affordability. With a team of 15 employees, ECLT partners with communities to create equitable opportunities for families through permanently affordable homeownership.
Official website here: www.elevationclt.org
What are the reviews and ratings of this charity?
Elevation Community Land Trust is not currently rated by Charity Navigator, mainly due to the lack of sufficient data for their Accountability & Finance and other beacon scores. This does not imply a positive or negative assessment, but rather that additional electronic filing of IRS Form 990 data is needed for a comprehensive evaluation.
Despite the absence of a rating, information such as total revenue and salary of key personnel is available. The salaries for top executives, including the President and CEO Stefka Fanchi, reflect the financial transparency of the organization. The Trust is known to receive substantial support from governmental or public sources and operates as an independent entity.
No user reviews are available through GreatNonprofits, which means community feedback is currently limited to these existing details. Therefore, potential donors or stakeholders must rely on this financial transparency until a more complete assessment becomes possible.
This AI summary has been generated from information found on Charity Navigator.
Is Elevation Community Land Trust legitimate?
Elevation Community Land Trust is a legitimate nonprofit organization registered as a 501(c)(3) entity. Elevation 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: $571,536
Professional Fundraising Fees: $0
Other Salaries and Wages: $876,201
For more financial information, click here
Official website here: www.elevationclt.org
What is the mission statement of Elevation Community Land Trust?
The Elevation Community Land Trust works in partnership with communities to create equitable opportunities for families through permanent affordable homeownership. Using the community land trust model, they provide affordable homes to eligible low-to-moderate income families by selling the improvements on a property to a qualified household while keeping the land in trust as a community asset. In 2022, ECLT sold 87 homes, with the organization incurring a substantial loss to ensure the affordability of their properties for future generations. The loss, totaling $1,581,597 in that year, represents ECLT's investment in maintaining permanently affordable homes within their portfolio.
Official website here: www.elevationclt.org
Who is the CEO of Elevation Community Land Trust?
Stefka Fanchi is the President And Ceo of Elevation Community Land Trust. The CEO's salary of Elevation Community Land Trust is $184,993 and their total compensation is $241,785.
Official website here: www.elevationclt.org
What is the revenue of Elevation Community Land Trust?
Elevation Community Land Trust's revenue in 2022 was $12,223,973.
Official website here: www.elevationclt.org
Who are the executives of Elevation Community Land Trust and what are their salaries?
The average compensation at Elevation Community Land Trust during 2022 was $96,516. There are 15 employees and 10 volunteers at Elevation Community Land Trust.
Here are 16 key members and their salaries (Elevation Community Land Trust's CEO's salary is $184,993 and their total compensation is $241,785):
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $184,993
- Related: $0
- Other: $56,792
- Compensation: $159,226
- Related: $0
- Other: $13,874
- Compensation: $134,526
- Related: $0
- Other: $22,126
- Compensation: $139,423
- Related: $0
- Other: $15,585
- Compensation: $120,041
- Related: $0
- Other: $32,266
- Compensation: $111,148
- Related: $0
- Other: $38,123
Official website here: www.elevationclt.org
Where can I find the form 990 for Elevation Community Land Trust?
Elevation Community Land Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.elevationclt.org
Learn more at the official website: www.elevationclt.org
Mission Statement of Elevation Community Land Trust
Elevation Community Land Trust (ECLT) is a nonprofit organization that partners with communities to create equitable opportunities for families through the provision of permanently affordable homeownership. This innovative approach, known as the community land trust model, enables ECLT to sell the improvements on a property to eligible low-to-moderate income Colorado families while holding the land in trust as a community asset.
ECLT's mission in action involves the acquisition of homes, completion of necessary rehabilitation, and sale of the homes to qualified homebuyers at an affordable price. The cost to acquire and rehabilitate a property usually exceeds the affordable sales price, resulting in a significant investment by ECLT to ensure the homes in its portfolio remain permanently affordable for generations to come. In 2022, ECLT sold 87 homes, marking a notable achievement in providing affordable homeownership opportunities to families in need.
By implementing this unique model, ECLT plays a crucial role in addressing the affordable housing crisis and making a lasting impact on the lives of eligible families. This investment in community assets not only ensures the preservation of affordable homes but also contributes to the overall well-being and stability of the families and communities involved.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
Elevation Community Land Trust significantly impacts the housing landscape by providing affordable homeownership opportunities for low-to-moderate income families in Colorado. By leveraging the community land trust model, the organization ensures that while the physical homes are sold to qualified buyers, the underlying land is held as a community asset, fostering long-term affordability.
In 2022 alone, Elevation Community Land Trust sold 87 homes, with the understanding that they often sell properties at a loss to maintain affordability. This strategic approach actively addresses the challenges posed by rising housing costs, allowing families to secure stable housing and build equity. The organization's efforts represent a substantial financial commitment—over $1.5 million in subsidies in 2022—to ensure that homes remain accessible to future generations.
By rehabilitating properties and making them available for sale to those who might not otherwise afford homeownership, Elevation Community Land Trust not only transforms lives but also strengthens communities. The focus on creating equitable opportunities contributes to neighborhood stability, economic growth, and social cohesion, making a lasting impact on the families served and the broader community in the Denver area.
This information is meant to be a general summary of Elevation 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: -$1,581,597
- Program Service Revenue: $2,640,449
- Gross Receipts: $22,710,113
Assets and Liabilities:
- Total Assets: $67,907,518
- Total Liabilities: $39,999,190
- Net Assets: $27,908,328
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$1,323,509
PROPERTY DEVELOPMENT FEES
Revenue
$1,104,725
LAND TRUST INCOME
Revenue
$212,215
Organization Details
Founding Year
2020
Phone
(720) 822-0052Principal Officer
Stefka Fanchi
Main Address
1114 W 7TH AVE SUITE 101, DENVER, CO, 80404
Website
www.elevationclt.orgNTEE Category
Code: L21 - Housing
If you are a representative of Elevation Community Land Trust and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.