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← ESPERANZA COMMUNITY LAND TRUST

Form 990 for tax year 2024

Filed by ESPERANZA COMMUNITY LAND TRUST.

Totals

Total revenue
$859,803
Total expenses
$776,081
Contributions and grants received
$784,491
Grants paid
$0
Program service revenue
$56,207
Investment income
$19,105
Other revenue
$0
Total assets, end of year
$3,795,980
Total liabilities, end of year
$3,352,924
Net assets or fund balances, end of year
$443,056
Program services expenses (Part IX)
$772,552
Management and general expenses
$3,529
Fundraising expenses
$0
Program service expenses (Part III)
$772,552

Program services were 99.5% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $712,500

  • 1f · All other contributions, gifts and grants

    $71,991

  • 2a · Program service revenue: RENTAL INCOME

    total $56,207 · related or exempt $56,207

  • 3 · Investment income

    total $19,105 · excluded $19,105

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0

  • 7d · Net gain or loss

    total $0

  • 8a · Fundraising events: gross income

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $10,894 · program services $10,894

  • 8 · Pension plan contributions

    total $363 · program services $363

  • 9 · Other employee benefits

    total $1,179 · program services $1,179

  • 10 · Payroll taxes

    total $902 · program services $902

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $0

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $125,069 · program services $125,069

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $17,562 · program services $14,033 · management and general $3,529

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $69,586 · program services $69,586

  • 17 · Travel

    total $193 · program services $193

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $19 · program services $19

  • 20 · Interest

    total $59,881 · program services $59,881

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $34,022 · program services $34,022

  • 23 · Insurance

    total $11,614 · program services $11,614

  • 24a · Other expenses: DEVOLOPER FEE

    total $444,797 · program services $444,797

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $0 · end of year $168,888

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $520,465

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $712,500

  • 4 · Accounts receivable

    beginning of year $0 · end of year $16,130

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $0

  • 10a · Land, buildings and equipment: cost or other basis

    $1,972,680

  • 10b · Land, buildings and equipment: accumulated depreciation

    $34,021

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $1,938,659

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $439,338

  • 17 · Accounts payable and accrued expenses

    beginning of year $0 · end of year $82,084

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $1,091,259

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $2,179,581

  • 27 · Net assets without donor restrictions

    beginning of year $0 · end of year $443,056

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2024

Mission

The Land Trust is acquiring, developing and managing housing for low income persons and households in the Hunting Park neighborhood in Philadelphia. Total time of the Land Trust employees are dedicated to this activity. The activity is funded by donations and grants. The activity furthers the exempt purpose of the organization which is to: (1) To improve the lives of families in Philadelphia through the elimination of blighted and vacant properties. (2) To support the housing needs of lower income residences in the Hunting Park section and surrounding areas of Philadelphia.

Activities or mission (Part I)

The Land Trust is acquiring, developing and managing housing for low income persons and households in the Hunting Park neighborhood in Philadelphia.

  • The Land Trust is acquiring, developing and managing housing for low income persons and households in the Hunting Park neighborhood in Philadelphia. Total time of the Land Trust employees are dedicated to this activity. The activity is funded by donations and grants. The activity furthers the exempt purpose of the organization which is to: (1) To improve the lives of families in Philadelphia through the elimination of blighted and vacant properties. (2) To support the housing needs of lower income residences in the Hunting Park section and surrounding areas of Philadelphia.

    Expenses $772,552 · Revenue $56,207

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Rev Luis Cortes Jr

    VICE CHAIR

    Total calculated
    $412,943
    From this org
    $0
    From related orgs
    $396,023
    Other
    $16,920
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    $0 + $396,023 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $16,920 related
    Filer's total
    $0 + $412,943 related

  • Rev Danny Cortes

    CHAIR

    Total calculated
    $274,293
    From this org
    $0
    From related orgs
    $256,777
    Other
    $17,516
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    $0 + $256,777 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $17,516 related
    Filer's total
    $0 + $274,293 related

  • Walter Toliver

    BOARD MEMBER

    Total calculated
    $216,655
    From this org
    $0
    From related orgs
    $194,625
    Other
    $22,030
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    $0 + $194,625 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $22,030 related
    Filer's total
    $0 + $216,655 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

SCHEDULE J, PART I, LINE 3:
COMPENSATION OF OFFICERS IS DETERMINED BY RELATED PARTY, NUEVA ESPERANZA, INC. THROUGH THE USE OF FORM 990S OF COMPARABLE ORGANIZATIONS, COMPENSATION SURVEYS AND APPROVAL BY BOARD.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • ROBERTO CLEMENTE HOMES LP

    HOUSING · PA

    Directly controlled by NUEVA ESPERANZA

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • 3921 CORPORATION

    C CORP · HOUSING · PA

    Directly controlled by NUEVA ESPERANZA

Provenance

Return type
form_990
Tax year
2024
Filed
15 May 2026
IRS schema version
2024v5.2
Source object
202601359349308810

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