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← DWELLING PLACE REGIONAL COMMUNITY LAND TRUST

Form 990 for tax year 2022

Filed by DWELLING PLACE REGIONAL COMMUNITY LAND TRUST.

Totals

Total revenue
$486,541
Total expenses
$408,973
Contributions and grants received
$469,031
Grants paid
$30,544
Program service revenue
$17,410
Investment income
$0
Other revenue
$100
Total assets, end of year
$811,728
Total liabilities, end of year
$465,486
Net assets or fund balances, end of year
$346,242
Program services expenses (Part IX)
$249,191
Management and general expenses
$159,782
Fundraising expenses
$0
Program service expenses (Part III)
$249,191

Program services were 60.9% 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.

  • 1d · Related organizations

    $469,031

  • 1g · Noncash contributions included above

    $65,800

  • 2a · Program service revenue: DEVELOPER FEE

    total $16,145 · related or exempt $16,145

  • 2b · Program service revenue: GROUND LEASE FEE

    total $1,265 · related or exempt $1,265

  • 11a · Other revenue: MISCELLANEOUS REVENUE

    total $100 · related or exempt $100

  • 11e · Other revenue, total

    $100

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $30,544 · program services $30,544

  • 11a · Fees: management

    total $107,824 · program services $107,824

  • 11b · Fees: legal

    total $21,787 · program services $5,946 · management and general $15,841

  • 11c · Fees: accounting

    total $4,613 · management and general $4,613

  • 11g · Fees: other

    total $141,576 · program services $3,468 · management and general $138,108

  • 13 · Office expenses

    total $507 · program services $35 · management and general $472

  • 16 · Occupancy

    total $14,294 · program services $14,294

  • 17 · Travel

    total $1,520 · program services $1,520

  • 19 · Conferences, conventions and meetings

    total $1,486 · program services $760 · management and general $726

  • 20 · Interest

    total $381 · program services $381

  • 24a · Other expenses: AFFORDABILITY GAP SUBSI

    total $65,800 · program services $65,800

  • 24b · Other expenses: SALES DISCOUNT

    total $18,587 · program services $18,587

  • 24c · Other expenses: MISCELLANEOUS

    total $54 · program services $32 · management and general $22

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $31,593

  • 2 · Savings and temporary cash investments

    beginning of year $167,553 · end of year $139,973

  • 4 · Accounts receivable

    beginning of year $244 · end of year $67,279

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

    $604,476

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $322,152 · end of year $604,476

  • 17 · Accounts payable and accrued expenses

    beginning of year $24,393 · end of year $438

  • 19 · Deferred revenue

    beginning of year $190 · end of year $1,507

  • 24 · Unsecured notes and loans payable

    beginning of year $228,285 · end of year $463,541

  • 27 · Net assets without donor restrictions

    beginning of year $112,670 · end of year $141,774

  • 28 · Net assets with donor restrictions

    beginning of year $156,004 · end of year $204,468

Mission and programs · 2022

Mission

TO PROVIDE OPPORTUNITIES FOR LOW-INCOME PEOPLE TO SECURE HOUSING THAT IS DECENT AND AFFORDABLE AND THAT IS CONTROLLED BY THEM ON A LONG-TERM BASIS.

  • AS A COMMUNITY LAND TRUST, DP CLT PROVIDES VOLUNTARY ASSISTANCE FOR LOW-INCOME WORKING FAMILIES BY PROVIDING EQUITY FUNDING TO PERMANENTLY REDUCE THE COST OF HOMES FOR INCOME-QUALIFIED HOME BUYERS. LOW-INCOME HOUSEHOLDS WILL PURCHASE AND OWN AFFORDABLY PRICED HOMES AND ENTER AN 89 YEAR GROUND LEASE AGREEMENT GRANTING THEM AN EXCLUSIVE, DURABLE, ENFORCEABLE RIGHT TO THE LOT ON WHICH THEIR HOME SITS; THE LEASE WILL BE ASSIGNABLE TO QUALIFIED HEIRS AND RENEWABLE FOR A SECOND 89 YEAR TERM.

    Expenses $249,191 · Grants $30,544 · Revenue $17,510

As filed on the 2022 return.

Listed in Part VII

  • Jeremy Deroo

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $210,036
    From this org
    $0
    From related orgs
    $192,225
    Other
    $17,811
    Hours/week
    0.1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $192,225 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $2,338 related
    Nontaxable benefits
    $0 + $15,473 related
    Filer's total
    $0 + $210,036 related

  • Rich Kogelschatz

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.1 + 1 related

  • Lee Nelson Weber

    CHAIRPERSON

    Total calculated
    $0
    Hours/week
    0.1 + 1 related

  • Doretha Ardoin

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.1 + 1 related

  • Gil Segovia

    TREASURER

    Total calculated
    $0
    Hours/week
    0.1 + 1 related

  • Steve Recker

    CHIEF FINANCIAL OFFICER

    Total calculated
    $181,498
    From this org
    $0
    From related orgs
    $166,564
    Other
    $14,934
    Hours/week
    0.1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $166,564 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $8,292 related
    Nontaxable benefits
    $0 + $6,642 related
    Filer's total
    $0 + $181,498 related

  • Kim Cross

    CHIEF OPERATING OFFICER

    Total calculated
    $186,481
    From this org
    $0
    From related orgs
    $171,723
    Other
    $14,758
    Hours/week
    0.1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $171,723 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $8,524 related
    Nontaxable benefits
    $0 + $6,234 related
    Filer's total
    $0 + $186,481 related

  • David De Velder

    DIRECTOR OF COMMUNITY LAND TRUST

    Total calculated
    $0
    Hours/week
    40 + 1 related

  • Alonda Trammell-Miller

    CHIEF SERVICES OFFICER

    Total calculated
    $95,005
    From this org
    $0
    From related orgs
    $91,132
    Other
    $3,873
    Hours/week
    0.1 + 40 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)

PART I, LINE 3
SALARIES ARE DETERMINED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS OF DWELLING PLACE OF GRAND RAPIDS NPHC, A RELATED ENTITY. DWELLING PLACE PERIODICALLY PERFORMS A SALARY STUDY BASED ON COMPARABLE DATA FROM OUTSIDE SOURCES SPECIFIC TO NON-PROFITS AND/OR REAL ESATE/HOUSING MANAGEMENT INDUSTRY. THE DATA FROM THESE STUDIES AS WELL AS PERFORMANCE REVIEWS PROVIDE A BASIS FOR THE EXECUTIVE COMMITTEE'S SALARY DECISIONS.

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

  • MARTINEAU HOLDINGS LIMITED DIVIDEND HOUSING ASSOCIATION LLC

    $30,544

    TO ASSIST MARTINEAU HOLDINGS LIMITED DIVIDEND HOUSING ASSOCIATION LLC IN PROVIDING LOW INCOME HOUSING

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.

  • DWELLING PLACE OF GRAND RAPIDS NONPROFIT HOUSING CORPORATION

    501(C)(3) · PROVIDING SUPPORT SERVICES AND REVITALIZING NEIGHBORHOODS · MI

    Directly controlled by DWELLING PLACE OF GRAND RAPIDS NONPROFIT HOUSING CORPORATION

  • HEARTSIDE NONPROFIT HOUSING CORPORATION

    501(C)(3) · DEVELOP AND OPERATE RESIDENTAL FOR LOWER INCOME INDIVIDUALS · MI

    Directly controlled by DWELLING PLACE OF GRAND RAPIDS NONPROFIT HOUSING CORPORATION

  • ELMDALE APARTMENTS NONPROFIT HOUSING CORPORATION

    501(C)(3) · TO PROVIDE AFFORDABLE HOUSING FOR LOW TO MIDDLE INCOME INDIVIDUALS · MI

    Directly controlled by DWELLING PLACE OF GRAND RAPIDS NONPROFIT HOUSING CORPORATION

  • DWELLING PLACE FOUNDATION

    501(C)(3) · COLLECT ENDOWMENT CONTRIBUTIONS TO SUPPORT DWELLING PLACE OF GRAND RAPIDS · MI

    Directly controlled by DWELLING PLACE OF GRAND RAPIDS NONPROFIT HOUSING CORPORATION

  • SAWKAW INC

    501(C)(4) · TO PROVIDE AFFORDABLE HOUSING FOR LOW TO MIDDLE INCOME INDIVIDUALS · MI

    Directly controlled by DWELLING PLACE OF GRAND RAPIDS NONPROFIT HOUSING CORPORATION

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.

  • GRANDVILLE HEARTSIDE LIMITED DIVIDEND HOUSING ASSOCIATION LP

    RELATED · LOW INCOME HOUSING · MI

    Directly controlled by GRANDVILLE HEARTSIDE NONPROFIT HOUSING CORPORATION

  • NEW HOPE HOMES LIMITED DIVIDEND HOUSING ASSOCIATION LIMITED PARTNERSHIP

    RELATED · LOW INCOME HOUSING · MI

    Directly controlled by NEW HOPE HOMES NONPROFIT HOUSING CORPORATION

  • DWELLING PLACE RURAL LIMITED HOUSING ASSOCIATION LIMITED PARTNERSHIP

    RELATED · LOW INCOME HOUSING · MI

    Directly controlled by DWELLING PLACE RURAL NONPROFIT HOUSING CORPORATION

  • HARVEST HILL LIMITED DIVIDEND HOUSING ASSOCIATION LIMITED PARTNERSHIP

    RELATED · LOW INCOME HOUSING · MI

    Directly controlled by DWELLING PLACE RURAL NONPROFIT HOUSING CORPORATION

  • WHITEHALL DP LIMITED PARTNERSHIP

    RELATED · LOW INCOME HOUSING · MI

    Directly controlled by DWELLING PLACE RURAL NONPROFIT HOUSING CORPORATION

  • KELSEY LIMITED DIVIDEND HOUSING ASSOCIATION LIMITED PARTNERSHIP

    RELATED · LOW INCOME HOUSING · MI

    Directly controlled by KELSEY NONPROFIT HOUSING CORPORATION

  • 44 IONIA LIMITED DIVIDEND HOUSING ASSOCIATION LIMITED PARTNERSHIP

    RELATED · LOW INCOME HOUSING · MI

    Directly controlled by HEARTSIDE NONPROFIT HOUSING CORPORATION

  • KBC LIMITED DIVIDEND HOUSING ASSOCIATION LIMITED PARTNERSHIP

    RELATED · LOW INCOME HOUSING · MI

    Directly controlled by KBC NONPROFIT HOUSING CORPORATION

  • BRIDGE STREET LIMITED DIVIDEND HOUSING ASSOCIATION LIMITED PARTNERSHIP

    RELATED · LOW INCOME HOUSING · MI

    Directly controlled by BRIDGE STREET NONPROFIT HOUSING CORPORATION

  • GOODRICH LIMITED DIVIDEND HOUSING ASSOCIATION LIMITED PARTNERSHIP

    RELATED · LOW INCOME HOUSING · MI

    Directly controlled by GOODRICH NONPROFIT HOUSING CORPORATION

  • LIBERTY LIMITED DIVIDEND HOUSING ASSOCIATION LIMITED PARTNERSHIP

    RELATED · LOW INCOME HOUSING · MI

    Directly controlled by LIBERTY NONPROFIT HOUSING CORPORATION

  • HALL STREET LIMITED DIVIDEND HOUSING ASSOCIATION LIMITED PARTNERSHIP

    RELATED · LOW INCOME HOUSING · MI

    Directly controlled by HALL STREET NONPROFIT HOUSING CORPORATION

  • HERKIMER APARTMENTS LIMITED DIVIDEND HOUSING ASSOCIATION

    RELATED · LOW INCOME HOUSING · MI

    Directly controlled by HERKIMER APARTMENTS NONPROFIT HOUSING CORPORATION

  • HERKIMER COMMERCE LIMITED DIVIDEND HOUSING ASSOCIATION

    RELATED · LOW INCOME HOUSING · MI

    Directly controlled by HERKIMER APARTMENTS NONPROFIT HOUSING CORPORATION

  • LCH36 LIMITED DIVIDEND HOUSING ASSOCIATION LIMITED PARTNERSHIP

    RELATED · LOW INCOME HOUSING · MI

    Directly controlled by LCH36 NONPROFIT HOUSING CORPORATION

  • ROOSEVELT LIMITED DIVIDEND HOUSING ASSOCIATION LIMITED PARTNERSHIP

    RELATED · LOW INCOME HOUSING · MI

    Directly controlled by ROOSEVELT NONPROFIT HOUSING CORPORATION

  • PINE AVENUE LIMITED DIVIDEND HOUSING ASSOCIATION LIMITED PARTNERSHIP

    RELATED · LOW INCOME HOUSING · MI

    Directly controlled by PINE AVENUE NONPROFIT HOUSING CORPORATION

  • HPFH LIMITED DIVIDEND HOUSING ASSOCIATION LIMITED PARTNERSHIP

    RELATED · LOW INCOME HOUSING · MI

    Directly controlled by HPFH NONPROFIT HOUSING CORPORATION

  • PLAZA FRANKLIN LIMITED DIVIDEND HOUSING ASSOCIATION

    RELATED · LOW INCOME HOUSING · MI

    Directly controlled by DP FRANKLIN LLC

  • PLAZA GRANDVILLE LIMITED DIVIDEND HOUSING ASSOCIATION

    RELATED · LOW INCOME HOUSING · MI

    Directly controlled by DP GRANDVILLE LLC

  • FERGUSON APARTMENTS LIMITED DIVIDEND HOUSING ASSOCIATION LLC

    RELATED · LOW INCOME HOUSING · MI

    Directly controlled by NEW FERGUSON LLC

Related corporations and trusts

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

  • SHELDON- WESTON INC

    C · LOW INCOME HOUSING · MI

  • DP RURAL NPHC

    C · LOW INCOME HOUSING · MI

  • KELSEY NPHC

    C · LOW INCOME HOUSING · MI

  • KBC NPHC

    C · LOW INCOME HOUSING · MI

  • BRIDGE STREET NPHC

    C · LOW INCOME HOUSING · MI

  • GOODRICH NPHC

    C · LOW INCOME HOUSING · MI

  • LIBERTY NPHC

    C · LOW INCOME HOUSING · MI

  • HALL STREET NPHC

    C · LOW INCOME HOUSING · MI

  • HERKIMER APARTMENTS NPHC

    C · LOW INCOME HOUSING · MI

  • LCH36 NPHC

    C · LOW INCOME HOUSING · MI

  • ROOSEVELT NPHC

    C · LOW INCOME HOUSING · MI

  • HERKIMER CONDOMINIUM ASSOCIATION

    C · LOW INCOME HOUSING · MI

  • MARTINEAU CONDOMINIUM ASSOCIATION

    C · LOW INCOME HOUSING · MI

  • ROOSEVELT CONDOMINIUM ASSOCIATION

    C · LOW INCOME HOUSING · MI

  • 101 SHELDON CONDOMINIUM ASSOCIATON

    C · LOW INCOME HOUSING · MI

  • HPFH NPHC

    C · LOW INCOME HOUSING · MI

  • PINE AVENUE NPHC

    C · LOW INCOME HOUSING · MI

  • DP FRANKLIN LLC

    C · LOW INCOME HOUSING · MI

  • DP GRANDVILLE LLC

    C · LOW INCOME HOUSING · MI

  • NEW FERGUSON LLC

    C · LOW INCOME HOUSING · MI

  • FERGUSON CONDOMINIUM ASSOCIATION

    C · LOW INCOME HOUSING · MI

  • MARTINEAU 106 CLT CONDOMINIUM ASSOCIATION

    C · LOW INCOME HOUSING · MI

  • MARTINEAU 120 CLT CONDOMINIUM ASSOCIATION

    C · LOW INCOME HOUSING · MI

  • PLAZA GRANDVILLE CONDOMINIUM ASSOCIATION

    C · LOW INCOME HOUSING · MI

Provenance

Return type
form_990
Tax year
2022
Filed
29 September 2023
IRS schema version
2022v5.0
Source object
202342829349300124

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