Grand Forks Community Land Trust
- Assets
- $1.2m
- Revenue
- $68.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Grand Forks, ND
- Founding
- 06/2011
- Data as of
- 12/2021
- EIN
- 27-4213216
Organization Overview
Grand Forks Community Land Trust is located in Grand Forks, ND. The organization was established in 2011. According to its NTEE Classification (L25) the organization is classified as: Housing Rehabilitation, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Grand Forks Community Land Trust is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Grand Forks Community Land Trust generated $68.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (21.7%) each year. All expenses for the organization totaled $160.9k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION'S MISSION IS TO PROVIDE PERMANENTLY AFFORDABLE HOUSING OPPORTUNITIES TO THE GRAND FORKS, ND COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION ACQUIRES LAND AND/OR OTHER REAL ESTATE TO DEVELOP OR REHABILITATE AND EVENTUALLY SELL AT AFFORDABLE PRICES TO FUTURE HOMEOWNERS IN THE GRAND FORKS, ND COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Emily Contreras Executive Director | Officer | 15 | $37,088 |
Mark Rustad Vice President | OfficerTrustee | 1 | $0 |
Derek Nolte President | OfficerTrustee | 1 | $0 |
Casey Hutton Secretary/treasurer | OfficerTrustee | 1 | $0 |
Adam Jordan Director | Trustee | 1 | $0 |
Pamela Whaley Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $4,405 |
| All other contributions, gifts, grants, and similar amounts not included above | $27 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,432 |
| Total Program Service Revenue | $49,141 |
| Investment income | $132 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$427 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $68,037 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $37,089 |
| Compensation of current officers, directors, key employees. | $7,418 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $20,253 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,560 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $201 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $18,749 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $22,591 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $316 |
| Insurance | $9,803 |
| All other expenses | $0 |
| Total functional expenses | $160,898 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $682 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,719 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,866 |
| Inventories for sale or use | $692,374 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $380 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $499,200 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,198,221 |
| Accounts payable and accrued expenses | $151,646 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $765,805 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $380 |
| Total liabilities | $917,831 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $280,390 |
| Total liabilities and net assets/fund balances | $1,198,221 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Grand Forks Community Land Trust has recieved totaling $27.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $27 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Neighborworks Home Partners Saint Paul, MN | $22,327,379 | $11,840,532 |
Little Earth Of United Tribes Housing Corporation Minneapolis, MN | $16,435,271 | $3,915,477 |
Daytons Bluff Neighborhood Housing Services Inc Saint Paul, MN | $22,257,418 | $1,487,305 |
Rebuilding Together - Twin Cities Minneapolis, MN | $1,295,176 | $2,009,168 |
Habitat For Humanity International Inc Willmar, MN | $2,974,753 | $963,982 |
Richland Affordable Housing Corporation Sidney, MT | $3,833,963 | $631,983 |
Brainerd South Housing Group Inc Brainerd, MN | $1,742,660 | $335,729 |
Asi Helena Inc St Paul, MN | $1,099,999 | $167,412 |
Grand Forks Community Land Trust Grand Forks, ND | $1,198,221 | $68,037 |
Metropolitan Interfaith Council On Affordable Housing Saint Paul, MN | $59,208 | $0 |
Christian Housing And Friendship Initiatives Plymouth, MN | $0 | $0 |
Rebuilding Together Yellowstone County Inc Billings, MT | $12,353 | $0 |