Durham Community Land Trustees Inc
- Assets
- $16.3m
- Revenue
- $3.1m
- Investments
- $0.0
- Employees
- 13
- Location
- Durham, NC
- Founding
- 06/1979
- Data as of
- 06/2023
- EIN
- 56-1203878
Organization Overview
Durham Community Land Trustees Inc is located in Durham, NC. The organization was established in 1979. 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. As of 06/2023, Durham Community Land Trustees Inc employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Durham Community Land Trustees Inc 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 06/2023, Durham Community Land Trustees Inc generated $3.1m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.0% each year. All expenses for the organization totaled $2.4m during the year ending 06/2023. While expenses have increased by 4.0% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
BUILD STRONG COMMUNITIES BY DEVELOPING, MANAGING, AND ADVOCATING FOR PERMANENT AFFORDABLE HOUSING THAT OFFERS DURHAM RESIDENTS WITH LOW TO MODERATE INCOMES A STABLE FOUNDATION FOR ACHIEVING ECONOMIC SECURITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED AFFORDABLE HOUSING FOR LOW TO MODERATE INCOME FAMILIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sherry Taylor Executive Di | Officer | 40 | $84,374 |
Doug Buddy Amis Treasurer | OfficerTrustee | 1 | $0 |
Rochelle Araujo President | OfficerTrustee | 1 | $0 |
Jennifer Carroll Member | Trustee | 1 | $0 |
Lucia Constantine Member | Trustee | 1 | $0 |
Charles Ebel Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Done Right The First Time Llc Building Repiar | 6/29/23 | $316,645 |
East Coast Service Group Logistics Building Repair | 6/29/23 | $279,355 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $204,001 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,481,562 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,685,563 |
| Total Program Service Revenue | $1,416,068 |
| Investment income | $2,866 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $8,846 |
| Net Income from Fundraising Events | -$1,086 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,112,357 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $13,497 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $84,374 |
| Compensation of current officers, directors, key employees. | $84,374 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $588,280 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $108,757 |
| Payroll taxes | $51,004 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $15,865 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $84,406 |
| Advertising and promotion | $0 |
| Office expenses | $12,127 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $101,197 |
| Travel | $11,405 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $268,263 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $397,485 |
| Insurance | $149,807 |
| All other expenses | $50,638 |
| Total functional expenses | $2,383,170 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $81,671 |
| Savings and temporary cash investments | $2,555,171 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $81,388 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $447 |
| Net Land, buildings, and equipment | $13,550,884 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,829 |
| Total assets | $16,276,390 |
| Accounts payable and accrued expenses | $209,524 |
| 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 | $8,814,811 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $399,054 |
| Total liabilities | $9,423,389 |
| Net assets without donor restrictions | $4,983,968 |
| Net assets with donor restrictions | $1,869,033 |
| 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 | $16,276,390 |