The Maggie@walker Community Land Trust
- Assets
- $9.6m
- Revenue
- $3.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Richmond, VA
- Founding
- 01/2017
- Data as of
- 12/2021
- EIN
- 47-5629011
Organization Overview
The Maggie@walker Community Land Trust is located in Richmond, VA. The organization was established in 2017. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, 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. Maggie@walker 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, Maggie@walker Community Land Trust generated $3.5m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 68.5% each year . All expenses for the organization totaled $304.5k during the year ending 12/2021. While expenses have increased by 51.2% per year over the past 6 years. They've been increasing with an increasing level of total revenue. 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 MAGGIE WALKER COMMUNITY LAND TRUST (MWCLT) SEEKS TO DEVELOP AND MAINTAIN PERMANENTLY AFFORDABLE HOMEOWNERSHIP OPPORTUNITIES FOR LOW AND MODERATE INCOME HOUSEHOLDS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MWCLT IS A RECENTLY FORMED NONPROFIT CORPORATION. IT ACTS AS THE DEVELOPER AND STEWARD OF PERMANENTLY AFFORDABLE HOUSING IN THE RICHMOND, VIRGINIA REGION BY: (1) ACQUIRING AND HOLDING LAND PARCELS (2) BUILDING HOMES ON THE PARCELS AND (3) SELLING THE HOMES TO QUALIFIED LOW-TO- MODERATE-INCOME HOME BUYERS WHO ENTER INTO A 99-YEAR LAND LEASE AGREEMENT WITH THE MWCLT.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Laura Lafayette Immediate Past Chair | OfficerTrustee | 3 | $0 |
Carolyn Champion Chair | OfficerTrustee | 3 | $0 |
Schirra Hayes Vice Chair | OfficerTrustee | 3 | $0 |
Will Martin Treasurer | OfficerTrustee | 3 | $0 |
Jeisson Apolo Armas Secretary | OfficerTrustee | 3 | $0 |
Tiffany Goodman Director | Trustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,285,850 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,407,095 |
| Noncash contributions included in lines 1a–1f | $215,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,692,945 |
| Total Program Service Revenue | -$156,618 |
| Investment income | $5,274 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,546,736 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,435 |
| Fees for services: Accounting | $7,058 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $4,011 |
| Office expenses | $3,150 |
| Information technology | $378 |
| Royalties | $0 |
| Occupancy | $11,585 |
| Travel | $1,055 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $250 |
| Interest | $6,250 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,024 |
| All other expenses | $4,546 |
| Total functional expenses | $304,461 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,544,138 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,991,339 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $194,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $2,779,995 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,075,065 |
| Total assets | $9,584,537 |
| Accounts payable and accrued expenses | $145,497 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $1,364,562 |
| Other liabilities | $28,866 |
| Total liabilities | $1,538,925 |
| Net assets without donor restrictions | $5,902,759 |
| Net assets with donor restrictions | $2,142,853 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $9,584,537 |
Grants Recieved
Over the last fiscal year, we have identified 9 grants that The Maggie@walker Community Land Trust has recieved totaling $1,824,750.
| Awarding Organization | Amount |
|---|---|
The Community Foundation Inc Richmond, VA PURPOSE: GENERAL PURPOSES | $1,077,850 |
Mary Morton Parsons Foundation Richmond, VA PURPOSE: DEVELOPMENT AND MAINTENANCE OF AFFORDABLE HOUSING IN HENRICO COUNTY | $300,000 |
Bon Secours Richmond Health System Richmond, VA PURPOSE: MISSION SUPPORT | $260,000 |
Virginia Nonproit Housing Coalition Richmond, VA PURPOSE: CONTRUCTION MANAGER | $100,000 |
Virginia Nonproit Housing Coalition Richmond, VA PURPOSE: CONTRUCTION MANAGER | $52,300 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $15,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Community Housing Partners Corporation Christiansburg, VA | $210,530,324 | $87,907,515 |
Enterprise Community Development Inc Columbia, MD | $150,433,261 | $43,987,858 |
Skill Creations Inc Goldsboro, NC | $13,834,048 | $44,435,808 |
Renewal Housing Inc North Bethesda, MD | $14,557,789 | $3,551,240 |
Habitat For Humanity International Inc Raleigh, NC | $48,704,094 | $32,190,331 |
Montage Living Charlotte, NC | $133,680,991 | $23,940,845 |
Washington Housing Conservancy Inc Washington, DC | $420,260,184 | $21,973,797 |
Ahc Inc Arlington, VA | $252,147,992 | $33,394,070 |
Habitat For Humanity International Inc Charlotte, NC | $71,967,554 | $27,686,341 |
Frontline Community Services Inc Beltsville, MD | $6,957,560 | $20,985,182 |
Montgomery Housing Partnership Inc Silver Spring, MD | $117,127,971 | $17,924,784 |
Enterprise Community Loan Fund Inc Columbia, MD | $332,804,742 | $25,996,753 |