Overview
What is Lopez Community Land Trust?
Lopez Community Land Trust is a nonprofit organization dedicated to stewarding land for six low-income housing projects. It operates in Lopez, Washington, and has a limited workforce of seven individuals. The trust's mission involves acquiring and holding land for various community uses, including housing, agriculture, and other community-related purposes. The organization constructs homes with sweat equity, then transfers these properties to Limited Equity Cooperative Associations, granting them a 99-year lease. The trust retains the land, imposing strict limitations on home transfers. In 2022, Lopez Community Land Trust engaged in pre-development for a new 6-unit Limited Equity Cooperative, executed capital upgrades and infrastructure on its land, and invested $243,956 in these improvements.
Official website here: www.lopezclt.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 88% (Three-Star out of Four Star rating)
Lopez Community Land Trust has achieved a solid score of 88%, reflecting a strong commitment to accountability and financial transparency. The charity's overall rating stems from a comprehensive evaluation focusing solely on financial metrics, suggesting effective management of resources and operations.
One of the strengths highlighted is the composition of the board, which consists entirely of independent members, scoring the maximum points in both majority independence and independent board size. The organization also excels in financial statement reviews and maintaining a low liabilities-to-assets ratio, indicating sound financial health and responsible asset management.
However, there are areas for improvement, particularly regarding policy documentation. The absence of a whistleblower policy and the document retention and destruction policy are noted limitations. Overall, Lopez Community Land Trust demonstrates a commitment to its mission with a high program expense ratio, ensuring that a significant portion of funds is directed toward its programs.
This AI summary has been generated from information found on Charity Navigator.
Is Lopez Community Land Trust legitimate?
Lopez Community Land Trust is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lopez 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: $154,989
For more financial information, click here
Official website here: www.lopezclt.org
What is the mission statement of Lopez Community Land Trust?
The Lopez Community Land Trust's mission involves acquiring and holding land in trust for various community purposes, including housing and agricultural uses. They construct homes with sweat equity and subsequently transfer them to limited equity cooperative associations. The main goal is to ensure that the homes remain affordable for the community. These cooperative associations are granted a 99-year lease with strict limitations on home transfers. The land, however, remains under the trust's ownership. In 2022, the trust was engaged in pre-development for a new limited equity cooperative housing project and also undertook capital upgrades and infrastructure improvements on its owned land.
Official website here: www.lopezclt.org
Who is the CEO of Lopez Community Land Trust?
Chom Greacen is the Board Chair of Lopez Community Land Trust.
Official website here: www.lopezclt.org
What is the revenue of Lopez Community Land Trust?
Lopez Community Land Trust's revenue in 2022 was $775,111.
Official website here: www.lopezclt.org
Who are the executives of Lopez Community Land Trust and what are their salaries?
The average compensation at Lopez Community Land Trust during 2022 was $22,141. There are 7 employees and 49 volunteers at Lopez Community Land Trust.
Here are 7 key members and their salaries:
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Official website here: www.lopezclt.org
Where can I find the form 990 for Lopez Community Land Trust?
Lopez Community Land Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.lopezclt.org
Learn more at the official website: www.lopezclt.org
Mission Statement of Lopez Community Land Trust
Lopez Community Land Trust, a nonprofit organization, is dedicated to acquiring and preserving land for various community uses, including housing and agriculture. The trust builds homes with the help of sweat equity, subsequently transferring these homes to Limited Equity Cooperative Associations. This unique approach ensures that these homes remain affordable and accessible to the community for a long term, with the cooperative associations having a 99-year lease on the properties, subject to strict limits on home transfers. In line with its mission, Lopez Community Land Trust also engages in pre-development projects, such as the planning of a new Limited Equity Cooperative with six units in 2022. Furthermore, the trust invests in capital upgrades and infrastructure on its own land, demonstrating its commitment to maintaining and improving the communities it serves.
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Impact
July, 2024
Lopez Community Land Trust acquires and holds land in trust for housing, agricultural, and other community uses. Through its activities, it builds homes with sweat equity and transfers them to limited equity cooperative associations. The trust's impact includes stewardship of land for low-income housing projects, with limited equity cooperative associations having a 99-year lease with strict limits on home transfers. In addition, the trust engages in pre-development for new cooperative units and performs capital upgrades and infrastructure improvements on owned land and properties. In 2022, the trust expended $243,956 on capital costs.
This information is meant to be a general summary of Lopez 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: -$22,054
- Program Service Revenue: $111,643
- Gross Receipts: $775,958
Assets and Liabilities:
- Total Assets: $8,211,324
- Total Liabilities: $1,207,133
- Net Assets: $7,004,191
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LEASE AND OTHER FEES
Revenue
$111,643
Organization Details
Founding Year
1989
Phone
(360) 468-3723Principal Officer
Chom Greacen
Main Address
PO BOX 25, LOPEZ, WA, 98261
Website
www.lopezclt.orgNTEE Category
Code: L20 - Housing
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