Overview
What is Community Foundation Land Trust?
Community Foundation Land Trust is a nonprofit organization based in Los Angeles, California. Its primary mission is to ensure the creation and preservation of affordable housing for low-income individuals, specifically entry-level homeowners. To achieve this, the organization uses a land trust structure as its key tool. By doing so, it enables eligible residents to purchase homes at an affordable price, and ensures that these homes remain affordable for subsequent buyers. In some instances, the corporation collaborates with municipal governments to sell affordable housing units in fee form, instead of using the land trust structure. Furthermore, the organization also invests in property development to provide affordable rental housing. In essence, Community Foundation Land Trust's work aims to combat community deterioration, stabilize neighborhoods, and promote homeownership, thereby lessening government burdens.
Is Community Foundation Land Trust legitimate?
Community Foundation Land Trust is a legitimate nonprofit organization registered as a 501(c)(3) entity. Community Foundation 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: $0
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What is the mission statement of Community Foundation Land Trust?
The Community Foundation Land Trust aims to provide affordable housing options for low-income and moderate-income families. Their mission is to combat community deterioration, stabilize neighborhoods, and lessen government burdens by promoting home ownership and offering affordable rental housing. They achieve this by preserving strategic parcels of land within their area of operation, primarily Los Angeles County, and utilizing a land trust as a tool to create and sustain affordable housing for entry-level homeowners. In certain instances, they collaborate with municipal governments to sell affordable housing in fee instead of utilizing the land trust structure. Additionally, the organization acquires property to develop as affordable rental housing.
What is the revenue of Community Foundation Land Trust?
Community Foundation Land Trust's revenue in 2023 was $181,270.
Who are the executives of Community Foundation Land Trust and what are their salaries?
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $356,262
- Other: $58,416
- Compensation: $0
- Related: $169,356
- Other: $32,789
- Compensation: $0
- Related: $212,137
- Other: $22,504
- Compensation: $0
- Related: $229,020
- Other: $53,882
Where can I find the form 990 for Community Foundation Land Trust?
Community Foundation Land Trust's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Community Foundation Land Trust
The Community Foundation Land Trust is committed to providing affordable housing options for low- and moderate-income families. Their mission is twofold: firstly, to combat community deterioration and stabilize neighborhoods, and secondly, to promote home ownership and provide affordable rental housing. To achieve this, the organization initiates projects to preserve strategic parcels of land within Los Angeles County, utilizing a land trust as a key tool. The goal is to enable low-income residents to purchase their own homes, while also providing a mechanism that ensures these homes remain permanently affordable for subsequent qualifying purchases. In limited cases, the Community Foundation Land Trust collaborates closely with municipal governments, selling affordable housing in fee instead of the land trust structure. Additionally, the corporation purchases property to develop as affordable rental housing. In essence, the Community Foundation Land Trust is dedicated to creating and sustaining affordable housing solutions, thereby contributing to the well-being and stability of the communities it serves.
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Impact
October, 2024
The Community Foundation Land Trust has made significant strides in addressing the affordable housing crisis in Los Angeles County. By strategically preserving parcels of land, the Trust creates opportunities for low-income residents to achieve homeownership, ensuring that properties remain affordable for future buyers through a land trust model. This innovative approach allows entry-level homeowners to purchase their homes while simultaneously securing long-term affordability.
In addition to facilitating homeownership, the Trust collaborates with local governments to sell affordable housing directly, providing diverse options for residents. Furthermore, the Trust invests in the development of affordable rental housing, addressing the immediate housing needs of families in the area.
Overall, the Community Foundation Land Trust's impact is profound: it combats community deterioration, stabilizes neighborhoods, and eases governmental burdens by promoting ownership and providing affordable rental solutions for low and moderate-income families in Los Angeles.
This information is meant to be a general summary of Community Foundation 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 2023.
- Investment Income: $112,773
- Gross Receipts: $191,373
Assets and Liabilities:
- Total Assets: $10,430,994
- Total Liabilities: $6,731,167
- Net Assets: $3,699,827
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Organization Details
Founding Year
2002
Principal Officer
Steve J Cobb
NTEE Category
Code: Z99 - Unknown
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