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← ELEVATION COMMUNITY LAND TRUST

Form 990 for tax year 2024

Filed by ELEVATION COMMUNITY LAND TRUST.

Totals

Total revenue
$15,442,615
Total expenses
$8,138,123
Contributions and grants received
$16,235,348
Grants paid
$815,500
Program service revenue
$2,863,128
Investment income
-$3,655,861
Other revenue
$0
Total assets, end of year
$101,986,913
Total liabilities, end of year
$59,867,361
Net assets or fund balances, end of year
$42,119,552
Program services expenses (Part IX)
$7,120,099
Management and general expenses
$769,917
Fundraising expenses
$248,107
Program service expenses (Part III)
$7,120,099

Program services were 87.5% 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)

    $13,302,954

  • 1f · All other contributions, gifts and grants

    $2,932,394

  • 1g · Noncash contributions included above

    $2,451,151

  • 2a · Program service revenue: RENTAL INCOME

    total $1,568,700 · related or exempt $1,568,700

  • 2b · Program service revenue: PROPERTY DEVELOPMENT FEES

    total $981,607 · related or exempt $981,607

  • 2c · Program service revenue: LAND TRUST INCOME

    total $312,821 · related or exempt $312,821

  • 3 · Investment income

    total $177,556 · excluded $177,556

  • 7a · Gross sales of assets other than inventory

    other assets $18,426,246

  • 7b · Less cost or other basis and sales expenses

    other assets $22,259,663

  • 7c · Gain or loss

    other assets -$3,833,417

  • 7d · Net gain or loss

    total -$3,833,417 · related or exempt -$3,833,417

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $815,500 · program services $815,500

  • 5 · Compensation of officers, directors and key employees

    total $651,724 · program services $348,839 · management and general $185,475 · fundraising $117,410

  • 7 · Other salaries and wages

    total $1,005,513 · program services $798,032 · management and general $124,610 · fundraising $82,871

  • 8 · Pension plan contributions

    total $64,118 · program services $51,434 · management and general $7,582 · fundraising $5,102

  • 9 · Other employee benefits

    total $252,193 · program services $193,404 · management and general $35,670 · fundraising $23,119

  • 10 · Payroll taxes

    total $118,177 · program services $83,132 · management and general $21,294 · fundraising $13,751

  • 11b · Fees: legal

    total $212,917 · program services $192,380 · management and general $20,537

  • 11c · Fees: accounting

    total $91,758 · program services $23,126 · management and general $68,632

  • 11d · Fees: lobbying

    total $33,332 · program services $33,332

  • 11g · Fees: other

    total $2,032,262 · program services $2,000,598 · management and general $31,664

  • 12 · Advertising and promotion

    total $68,287 · management and general $68,287

  • 13 · Office expenses

    total $38,967 · program services $21,985 · management and general $16,828 · fundraising $154

  • 14 · Information technology

    total $124,927 · program services $69,138 · management and general $53,594 · fundraising $2,195

  • 16 · Occupancy

    total $757,535 · program services $692,367 · management and general $64,241 · fundraising $927

  • 17 · Travel

    total $39,531 · program services $28,836 · management and general $10,134 · fundraising $561

  • 19 · Conferences, conventions and meetings

    total $17,500 · program services $6,264 · management and general $11,236

  • 20 · Interest

    total $66,261 · program services $66,261

  • 22 · Depreciation, depletion and amortization

    total $664,973 · program services $658,830 · management and general $6,143

  • 23 · Insurance

    total $338,961 · program services $308,504 · management and general $30,457

  • 24a · Other expenses: REPAIRS & MAINTENANCE

    total $206,326 · program services $206,326

  • 24b · Other expenses: HOA FEES

    total $202,855 · program services $202,855

  • 24c · Other expenses: LANDSCAPING

    total $158,602 · program services $158,602

  • 24d · Other expenses: OTHER EXPENSE

    total $91,443 · program services $75,893 · management and general $13,533 · fundraising $2,017

  • 24e · All other expenses

    total $84,461 · program services $84,461

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,908,791 · end of year $933,606

  • 2 · Savings and temporary cash investments

    beginning of year $5,732,378 · end of year $2,276,055

  • 3 · Pledges and grants receivable

    beginning of year $2,293,010 · end of year $2,320,804

  • 4 · Accounts receivable

    beginning of year $128,359 · end of year $193,080

  • 7 · Other notes and loans receivable

    end of year $457,795

  • 9 · Prepaid expenses and deferred charges

    beginning of year $103,813 · end of year $172,997

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

    $91,870,148

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

    $1,156,884

  • 10c · Land, buildings and equipment, net

    beginning of year $71,436,512 · end of year $90,713,264

  • 15 · Other assets

    beginning of year $1,245,918 · end of year $4,919,312

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,082,193 · end of year $1,435,762

  • 19 · Deferred revenue

    beginning of year $1,000,000

  • 23 · Secured mortgages and notes payable

    beginning of year $33,855,843 · end of year $35,708,408

  • 24 · Unsecured notes and loans payable

    beginning of year $11,779,253 · end of year $17,779,035

  • 25 · Other liabilities

    beginning of year $316,432 · end of year $4,944,156

  • 27 · Net assets without donor restrictions

    beginning of year $31,774,317 · end of year $39,441,808

  • 28 · Net assets with donor restrictions

    beginning of year $3,040,743 · end of year $2,677,744

Mission and programs · 2024

Mission

ELEVATION COMMUNITY LAND TRUST PARTNERS WITH COMMUNITIES TO CREATE EQUITABLE OPPORTUNITIES FOR FAMILIES THROUGH PERMANENTLY AFFORDABLE HOMEOWNERSHIP.

Activities or mission (Part I)

PROVIDING AFFORDABLE HOMEOWNERSHIP OPPORTUNITIES USING THE COMMUNITY LAND TRUST MODEL.

  • ECLT PROVIDES AFFORDABLE HOMEOWNERSHIP OPPORTUNITIES TO ELIGIBLE LOW-TO-MODERATE INCOME COLORADO FAMILIES USING THE COMMUNITY LAND TRUST MODEL, THROUGH WHICH THE IMPROVEMENTS ON A PROPERTY ARE SOLD TO A QUALIFIED HOUSEHOLD AND THE LAND IS HELD IN TRUST AS A COMMUNITY ASSET. ECLT ACQUIRES HOMES, COMPLETES REHABILITATION IF NEEDED, AND SELLS THE HOMES TO LOW-TO-MODERATE INCOME HOUSEHOLDS. SUCH HOMES ARE GENERALLY SOLD AT A LOSS, SINCE THE COST TO ACQUIRE AND AND REHABILITATE A PROPERTY USUALLY EXCEEDS THE AFFORDABLE SALES PRICE TO A QUALIFIED HOMEBUYER. THIS LOSS ($3,833,417 IN 2024 SHOWN ON PART VIII, LINE 7) REPRESENTS ECLT'S SUBSIDY INVESTMENT TO ENSURE THAT THE HOMES IN ITS PORTFOLIO REMAIN PERMANENTLY AFFORDABLE FOR GENERATIONS TO COME. IN 2024, ECLT SOLD 75 HOMES TO QUALIFIED BUYERS.

    Expenses $7,120,099 · Grants $815,500 · Revenue $21,289,374

As filed on the 2024 return.

Listed in Part VII

  • Jose Esparza

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.5

  • Karen Fox Elwell

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Anne Garcia

    VICE CHAIR & TREASURER

    Total calculated
    $0
    Hours/week
    0.5

  • Shannon Gifford

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Tom Gougeon

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Susan Powers

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Dave Younggren

    CHAIR

    Total calculated
    $0
    Hours/week
    0.5

  • Kelly Evans

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Alejandra Chavez

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Carmen Mayta

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Jeannie Newell

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Rodney Milton

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Stefka Fanchi

    PRESIDENT AND CEO

    Total calculated
    $271,812
    From this org
    $214,354
    From related orgs
    $0
    Other
    $57,458
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $211,908
    Bonus
    $0
    Other
    $2,446
    Deferred
    $15,646
    Nontaxable benefits
    $41,812
    Filer's total
    $271,812

  • Robin Hickey

    CHIEF FINANCIAL OFFICER

    Total calculated
    $215,041
    From this org
    $173,955
    From related orgs
    $0
    Other
    $41,086
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $172,255
    Bonus
    $1,700
    Other
    $0
    Deferred
    $12,416
    Nontaxable benefits
    $28,670
    Filer's total
    $215,041

  • Lauren Debell Term End 524

    CHIEF STRATEGY OFFICER

    Total calculated
    $71,047
    From this org
    $60,634
    From related orgs
    $0
    Other
    $10,413
    Hours/week
    45

  • Yvonne Duvall Term Start 624

    CHIEF PROGRAM OFFICER

    Total calculated
    $93,824
    From this org
    $78,592
    From related orgs
    $0
    Other
    $15,232
    Hours/week
    45

  • David Ogunsanya

    VP OF REAL ESTATE

    Total calculated
    $171,236
    From this org
    $125,120
    From related orgs
    $0
    Other
    $46,116
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $125,120
    Bonus
    $0
    Other
    $0
    Deferred
    $9,309
    Nontaxable benefits
    $36,807
    Filer's total
    $171,236

  • Tiana Patterson

    VP SOCIAL IMPACT & WEALTH EQUITY

    Total calculated
    $161,586
    From this org
    $123,478
    From related orgs
    $0
    Other
    $38,108
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $120,978
    Bonus
    $0
    Other
    $2,500
    Deferred
    $9,172
    Nontaxable benefits
    $28,936
    Filer's total
    $161,586

  • Judith Gomez

    CONTROLLER DIRECTOR OF ACCOUNTING

    Total calculated
    $139,071
    From this org
    $103,969
    From related orgs
    $0
    Other
    $35,102
    Hours/week
    40

  • Shannon McGinty

    REAL ESTATE PROJECT MANAGER

    Total calculated
    $124,367
    From this org
    $101,950
    From related orgs
    $0
    Other
    $22,417
    Hours/week
    40

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

  • 3 · Compensation committee
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 7
THE CEO'S BONUS IS DETERMINED BY THE EXECUTIVE COMMITTEE. THE CEO DETERMINES THE BONUSES OF THE REST OF THE STAFF (INCLUDING SENIOR LEADERSHIP AS OUTLINED IN THE COMPENSATION POLICY). IN CONSULTATION WITH THEIR SUPERVISORS, BASED ON INDIVIDUAL AND OVERALL ORGANIZATIONAL PERFORMANCE AND THE AVAILABILITY OF FUNDS. IN ALL CASES, BONUSES ARE CONSIDERED AS PART OF THE ANNUAL EMPLOYEE EVALUATION PROCESS AND ARE EVALUATED FOR REASONABLENESS USING LOCAL SALARY SURVEYS FOR THE NONPROFIT AND RELATED INDUSTRIES.

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.

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • ECLT AURORA COMMONS LLC

    HOLD PROPERTY · CO · income $12,633 · assets $629,000

    Directly controlled by ELEVATION COMMUNITY LAND TRUST

  • ECLT BALSAM ST CONDOS LLC

    HOLD PROPERTY · CO · income $321,009 · assets $3,588,052

    Directly controlled by ELEVATION COMMUNITY LAND TRUST

  • ECLT BLACKHAWK COMMONS LLC

    HOLD PROPERTY · CO · income $0 · assets $2,497,848

    Directly controlled by ELEVATION COMMUNITY LAND TRUST

  • ECLT BLUE VISTA COMMONS LLC

    HOLD PROPERTY · CO · income $83,010 · assets $3,360,000

    Directly controlled by ELEVATION COMMUNITY LAND TRUST

  • ECLT BRIGHTON CONDOS LLC

    HOLD PROPERTY · CO · income $32,250 · assets $1,117,554

    Directly controlled by ELEVATION COMMUNITY LAND TRUST

  • ECLT CHESTNUT CONDOS LLC

    HOLD PROPERTY · CO · income $2,054,398 · assets $11,079,463

    Directly controlled by ELEVATION COMMUNITY LAND TRUST

  • ECLT EMPORIA COMMONS LLC

    HOLD PROPERTY · CO · income $35,175 · assets $1,122,751

    Directly controlled by ELEVATION COMMUNITY LAND TRUST

  • ECLT GUNBARREL COMMONS LLC

    HOLD PROPERTY · CO · income $459,925 · assets $4,606,366

    Directly controlled by ELEVATION COMMUNITY LAND TRUST

  • ECLT GVR COMMONS LLC

    HOLD PROPERTY · CO · income $35,240 · assets $1,525,000

    Directly controlled by ELEVATION COMMUNITY LAND TRUST

  • ECLT ILIFF STATION COMMONS LLC

    HOLD PROPERTY · CO · income $0 · assets $801,812

    Directly controlled by ELEVATION COMMUNITY LAND TRUST

  • ECLT INCA COMMONS LLC

    HOLD PROPERTY · CO · income $151,367 · assets $1,803,877

    Directly controlled by ELEVATION COMMUNITY LAND TRUST

  • ECLT KECHTER COMMONS LLC

    HOLD PROPERTY · CO · income $2,919,108 · assets $2,128,675

    Directly controlled by ELEVATION COMMUNITY LAND TRUST

  • ECLT METRO EAST LLC

    HOLD PROPERTY · CO · income $2,377,919 · assets $14,429,468

    Directly controlled by ELEVATION COMMUNITY LAND TRUST

  • ECLT METRO WEST LLC

    HOLD PROPERTY · CO · income $116,080 · assets $1,363,748

    Directly controlled by ELEVATION COMMUNITY LAND TRUST

  • ECLT MONTBELLO COMMONS LLC

    HOLD PROPERTY · CO · income $120,401 · assets $900,000

    Directly controlled by ELEVATION COMMUNITY LAND TRUST

  • ECLT MORRISON CONDOS LLC

    HOLD PROPERTY · CO · income $74,790 · assets $1,984,136

    Directly controlled by ELEVATION COMMUNITY LAND TRUST

  • ECLT NORTH DENVER COMMONS LLC

    HOLD PROPERTY · CO · income $49,723 · assets $2,025,000

    Directly controlled by ELEVATION COMMUNITY LAND TRUST

  • ECLT NORTHERN COLORADO LLC

    HOLD PROPERTY · CO · income $1,096,495 · assets $18,012,368

    Directly controlled by ELEVATION COMMUNITY LAND TRUST

  • ECLT OGDEN COMMONS LLC

    HOLD PROPERTY · CO · income $57,034 · assets $1,978,337

    Directly controlled by ELEVATION COMMUNITY LAND TRUST

  • ECLT ROSEMARY COMMONS LLC

    HOLD PROPERTY · CO · income $59,199 · assets $1,131,092

    Directly controlled by ELEVATION COMMUNITY LAND TRUST

  • ECLT TENNYSON LLC

    HOLD PROPERTY · CO · income $0 · assets $1,526,146

    Directly controlled by ELEVATION COMMUNITY LAND TRUST

  • ECLT TRAILHEAD TOWNHOMES LLC

    HOLD PROPERTY · CO · income $10,500 · assets $872,033

    Directly controlled by ELEVATION COMMUNITY LAND TRUST

  • ECLT VERBENA COMMONS LLC

    HOLD PROPERTY · CO · income $1,705,789 · assets $1,594,182

    Directly controlled by ELEVATION COMMUNITY LAND TRUST

  • ECLT WELTON COMMONS LLC

    HOLD PROPERTY · CO · income $18,911 · assets $0

    Directly controlled by ELEVATION COMMUNITY LAND TRUST

  • ECLT WESTERN SLOPE LLC

    HOLD PROPERTY · CO · income -$42,346 · assets $307,320

    Directly controlled by ELEVATION COMMUNITY LAND TRUST

  • ECLT WESTSIDE COMMONS LLC

    HOLD PROPERTY · CO · income $2,167,805 · assets $6,416,329

    Directly controlled by ELEVATION COMMUNITY LAND TRUST

  • ECLT XENIA COMMONS LLC

    HOLD PROPERTY · CO · income $5,250 · assets $214,300

    Directly controlled by ELEVATION COMMUNITY LAND TRUST

  • ELEVATION COMMUNITY LAND TRUST LLC

    COMMUNITY LAND TRUST · CO · income $3,176,765 · assets $11,824,855

    Directly controlled by ELEVATION COMMUNITY LAND TRUST

  • ELCT TRENTON COMMONS LLC

    HOLD PROPERTY · CO · income $1,672,003 · assets $2,364,395

    Directly controlled by ELEVATION COMMUNITY LAND TRUST

  • ELCT SOUTHERN COLORADO LLC

    HOLD PROPERTY · CO · income $24,375 · assets $782,805

    Directly controlled by ELEVATION COMMUNITY LAND TRUST

Provenance

Return type
form_990
Tax year
2024
Filed
13 November 2025
IRS schema version
2024v5.2
Source object
202513179349306691

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