Clt Interboro Clt Housing Development Fund Corporation
- Assets
- $1.4m
- Revenue
- $311.7k
- Investments
- $0.0
- Employees
- 0
- Location
- New York, NY
- Founding
- 05/2019
- Data as of
- 12/2022
- EIN
- 82-4363742
Organization Overview
Clt Interboro Clt Housing Development Fund Corporation is located in New York, NY. The organization was established in 2019. 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. Clt Interboro Clt Housing Development Fund Corporation 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 12/2022, Clt Interboro Clt Housing Development Fund Corporation generated $311.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (29.0%) each year. All expenses for the organization totaled $311.7k during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE CORPORATION IS FORMED EXCLUSIVELY FOR THE PURPOSE OF DEVELOPING AND SUPPORTING ONE OR MORE HOUSING PROJECTS TO SERVICE PERSONS OF LOW INCOME, THROUGH ITS OWNERSHIP AND STEWARDSHIP OF THE LAND BENEATH RENTAL SUBPROJECTS AND HOMEOWNERSHIP SUBPROJECTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2022, INTERBOROS DEVELOPMENT PARTNERS MOVED FORWARD WITH THE PROJECTS IN INTERBOROS PIPELINE. PROGRESS RANGED FROM STARTING PRE-DEVELOPMENT WORK PREPARATORY TO REHABILITATION OF PROPERTIES TO SECURING PUBLIC FUNDING TO FINANCE CONSTRUCTION COSTS AND SUBSIDY LOWER AMIS TO PREPARING FOR CONSTRUCTION-FINANCE CLOSING ON SEVERAL PROJECTS. THE YEAR SAW THE CONCLUSION OF THE CONSTRUCTION-FINANCE CLOSING FOR THE NET ZERO HOMES. NOT ONLY WILL THESE PERMANENTLY-AFFORDABLE AND WEALTH-BUILDING OPPORTUNITIES FOR LMI HOUSEHOLDS BE BUILT TO PASSIVE HOUSE STANDARDS, THEY WILL ALSO WILL BE THE FIRST-EVER NEW-CONSTRUCTION SINGLE-FAMILY HOMES IN NYC THAT WILL GO ON A CLT (INTERBORO).INTERBORO CONTINUED ITS EFFORTS TO BUILD AWARENESS OF AND SUPPORT FOR COMMUNITY LAND TRUSTS BY MAKING PRESENTATIONS TO LOCAL ELECTED OFFICIALS AND TO RESIDENTS IN THE COMMUNITIES WHERE INTERBORO HAS PIPELINE PROJECTS. INTERBORO ALSO PROMOTED CLTS THROUGH MEDIA REQUESTS AND BY SPEAKING TO LEADERS IN PHILANTHROPY. IN ADDITION, INTERBORO CONTINUED TO WORK CLOSELY WITH THE NYC DEPARTMENT OF HOUSING PRESERVATION AND DEVELOPMENT (HPD) TO CONCEPTUALIZE AGENCY POLICIES AND LEGAL DOCUMENTS PERTAINING TO CLT-DESTINED SINGLE-FAMILY HOMES AND LIMITED-EQUITY HOUSING COOPERATIVES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christie Peale Board Chair | OfficerTrustee | 3 | $0 |
Andrew Reicher Vice Chair | OfficerTrustee | 1 | $0 |
Karen Haycox Treasurer | OfficerTrustee | 1 | $0 |
Ismene Speliotis Secretary | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $311,735 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $311,735 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $311,735 |
| 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 | $70,064 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $13,695 |
| Payroll taxes | $5,563 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $41,100 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $9,040 |
| Advertising and promotion | $0 |
| Office expenses | $1,914 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $249 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $5,428 |
| All other expenses | $0 |
| Total functional expenses | $311,658 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $654,515 |
| 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 | $1,737 |
| Net Land, buildings, and equipment | $226,000 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $500,000 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,382,252 |
| Accounts payable and accrued expenses | $49,581 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $49,581 |
| Net assets without donor restrictions | $226,000 |
| Net assets with donor restrictions | $1,106,671 |
| 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 | $1,382,252 |