Overview
What is Homestead Community Land Trust?
Homestead Community Land Trust is a nonprofit organization with a 30-year history in King County, Washington. Their mission is centered around housing justice and climate equity, aiming to provide affordable, sustainable homeownership opportunities to lower-income households. They accomplish this by developing land and homes in trust, ensuring that each property remains affordable to its future owners. Homestead completed construction on Village Gardens in 2022, featuring energy-efficient systems and solar panels for reduced climate impacts and lower utility costs. In 2022 and 2023, nine homes were sold to income-qualified families, including some who were previously homeless. By partnering with private donors and public agencies, Homestead has identified a pipeline of 181 more homes to build over the next five years. They currently manage 245 homes in trust and have created over 310 opportunities for first-time homebuyers. By removing homes from the speculative market and holding them in trust in perpetuity, Homestead is fostering a sustainable, affordable housing economy.
Official website here: www.homesteadclt.org
Is Homestead Community Land Trust legitimate?
Homestead Community Land Trust is a legitimate nonprofit organization registered as a 501(c)(3) entity. Homestead 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.
Here are some key statistics you may want to consider:
Executive Compensation: $142,016
Professional Fundraising Fees: $0
Other Salaries and Wages: $488,759
For more financial information, click here
What is the mission statement of Homestead Community Land Trust?
The Homestead Community Land Trust's mission is centered around housing justice and climate equity. They aim to provide affordable and sustainable homeownership opportunities for lower-income households, ensuring that these homes remain affordable for future generations. With a three-decade-long service in King County, Homestead combines housing development with buyer and owner support to grow and preserve an inventory of permanently affordable homes. Every home sold by Homestead is offered at an affordable price to income-qualified families and maintained as affordable for subsequent buyers. This initiative provides financial, social, health, and economic mobility benefits to individuals who may have been excluded from homeownership due to high market costs or systemic housing inequalities. By constructing homes with code-exceeding environmental standards, Homestead creates housing and climate equity for lower-income homeowners. In 2022, Homestead completed construction on Village Gardens, offering energy-efficient homes with solar panels to reduce climate impacts and lower utility costs. Through partnerships with private donors and public agencies, Homestead has identified a pipeline of 181 additional homes to build over the next five years.
Official website here: www.homesteadclt.org
Who is the CEO of Homestead Community Land Trust?
Kathleen Hosfeld is the Executive Director of Homestead Community Land Trust.
Official website here: www.homesteadclt.org
What is the revenue of Homestead Community Land Trust?
Homestead Community Land Trust's revenue in 2022 was $11,061,346.
Official website here: www.homesteadclt.org
Who are the executives of Homestead Community Land Trust and what are their salaries?
The average compensation at Homestead Community Land Trust during 2022 was $70,086. There are 9 employees and 46 volunteers at Homestead Community Land Trust.
Here are 18 key members and their salaries:
- Kathleen Hosfeld (Executive Director)
- Ross Muramoto (Finance Manager (Thru 11/2022))
- Brian Neville (Interim Finance Director)
- Rebecca Gobeille (Board President) [Trustee/Director]
- Cheryl Jackson-Williams (Board Vice President) [Trustee/Director]
- Eli Kaufman (Board Secretary) [Trustee/Director]
- Janelle Rothfolk (Board Treasurer) [Trustee/Director]
- Joy Hunt (Board Member (Thru 01/22)) [Trustee/Director]
- Susan Zeman (Board Member) [Trustee/Director]
- Shavon Jones (Board Member) [Trustee/Director]
- Juanita Mclaughlin (Board Member) [Trustee/Director]
- Frank Elizondo-Alcala (Board Member) [Trustee/Director]
- Eileen Franz (Board Member) [Trustee/Director]
- Chante Houston (Board Member) [Trustee/Director]
- Rebecca Lane (Board Member) [Trustee/Director]
- Pearl Nelson (Board Member) [Trustee/Director]
- Chandler Gayton (Board Member) [Trustee/Director]
- Kevin Skinner (Board Member) [Trustee/Director]
Official website here: www.homesteadclt.org
Where can I find the form 990 for Homestead Community Land Trust?
The Homestead Community Land Trust’s most recent form 990 was submitted in 2022 and can be accessed here
Official website here: www.homesteadclt.org
Learn more at the official website: www.homesteadclt.org
Mission Statement of Homestead Community Land Trust
Homestead Community Land Trust, a nonprofit organization with a 30-year history, is committed to housing justice and climate equity. Their mission is to provide affordable and sustainable homeownership opportunities for lower-income households. Homestead CLT develops land and housing in trust, ensuring that affordable homes are sold to income-qualified families who can maintain the affordability for future owners. This approach not only offers financial benefits but also social, health, and economic mobility to individuals who may have been excluded from homeownership due to high market prices or systemic housing inequalities.
By constructing homes with code-exceeding environmental standards, Homestead CLT contributes to climate equity for their lower-income homeowners. In 2022, Homestead completed construction on Village Gardens, incorporating energy-efficient systems and solar panels to reduce climate impacts and lower utility costs for homeowners. In the same year, nine homes were sold to income-qualified families, including two who were previously homeless.
Looking ahead, Homestead CLT has identified a pipeline of 181 more homes to build over the next five years, utilizing surplus and donated land. By removing homes from the speculative market and holding them in trust in perpetuity, Homestead CLT is creating an alternative, affordable housing economy. In 2022, Homestead held 245 homes in trust and had created over 310 first-time homebuying opportunities for income-qualified households. Homestead Community Land Trust's mission is to empower lower-income families by providing them with affordable and sustainable homeownership opportunities, fostering housing justice and climate equity.
Impact
This information is meant to be a general summary of Homestead Community Land Trust. Please take the time to review official sources before making any decisions based upon the content provided here.
Saturday, July 20, 2024
Homestead Community Land Trust's impact can be seen in the tangible difference it makes in the lives of lower-income households in King County. By offering permanently affordable homes to income-qualified families, Homestead is not only addressing housing inequities but also providing a pathway to wealth building and stability. Through their innovative approach of combining housing development with ongoing support for owners, Homestead is truly changing the narrative around homeownership for those marginalized by the high-cost housing market and systemic housing inequities.
In addition, Homestead's commitment to environmental sustainability sets them apart. By constructing homes with code-exceeding environmental standards and incorporating energy-efficient systems like solar panels, Homestead is contributing to climate equity and reducing the environmental impact of homeownership for lower-income families. The completion of projects like Village Gardens, where homes were sold to income-qualified families, including those experiencing homelessness, showcases Homestead's dedication to creating inclusive, sustainable communities.
As Homestead continues to expand its reach and build more affordable homes through partnerships with donors and public agencies, the organization is not just providing housing; it is creating an affordable housing economy that benefits the entire community. With a growing inventory of homes in trust and a pipeline of future projects, Homestead is making a lasting impact on housing justice and climate equity in Seattle and beyond.
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.
- Assets and Liabilities:
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROJECT HOME SALES
Revenue
$7,769,000
PROJECT FUNDING
Revenue
$1,143,440
LEASE FEE
Revenue
$133,576
RESALE FEES
Revenue
$53,496
PROJECT MANAGEMENT REVENUE
Revenue
$44,000
Organization Details
Founding Year
1992
Phone
(206) 323-1227
Principal Officer
Kathleen Hosfeld
Main Address
412 MAYNARD AVE S 201, SEATTLE, WA, 98104
Website
www.homesteadclt.org
NTEE Category
Code: L200 - Housing
If you are a representative of Homestead 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.