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Nonprofiteer
← SOMERVILLE COMMUNITY LAND TRUST

Form 990 for tax year 2022

Filed by SOMERVILLE COMMUNITY LAND TRUST.

Totals

Total revenue
$270,297
Total expenses
$286,963
Contributions and grants received
$270,297
Grants paid
$0
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$3,840,613
Total liabilities, end of year
$3,820,511
Net assets or fund balances, end of year
$20,102
Program services expenses (Part IX)
$243,834
Management and general expenses
$34,424
Fundraising expenses
$8,705
Program service expenses (Part III)
$243,834

Program services were 85.0% 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.

  • 1f · All other contributions, gifts and grants

    $270,297

  • 1g · Noncash contributions included above

    $33,088

  • 8c · Net income from fundraising events

    total $0

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $51,390 · program services $43,682 · management and general $6,167 · fundraising $1,541

  • 8 · Pension plan contributions

    total $2,900 · program services $2,465 · management and general $348 · fundraising $87

  • 10 · Payroll taxes

    total $8,673 · program services $7,372 · management and general $1,041 · fundraising $260

  • 12 · Advertising and promotion

    total $6,769 · program services $5,754 · management and general $812 · fundraising $203

  • 13 · Office expenses

    total $6,143 · program services $5,222 · management and general $737 · fundraising $184

  • 16 · Occupancy

    total $4,424 · program services $4,346 · management and general $52 · fundraising $26

  • 20 · Interest

    total $16,938 · program services $16,938

  • 24a · Other expenses: PROFESSIONAL SERVICES

    total $142,969 · program services $112,088 · management and general $24,635 · fundraising $6,246

  • 24b · Other expenses: REAL ESTATE TAXES

    total $24,608 · program services $24,608

  • 24c · Other expenses: OTHER CAPITALIZATION COSTS

    total $16,884 · program services $16,884

  • 24d · Other expenses: OTHER EXPENSES

    total $5,265 · program services $4,475 · management and general $632 · fundraising $158

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $36,680 · end of year $442,720

  • 3 · Pledges and grants receivable

    end of year $116,500

  • 9 · Prepaid expenses and deferred charges

    end of year $3,323

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

    $768,000

  • 10c · Land, buildings and equipment, net

    end of year $768,000

  • 15 · Other assets

    end of year $2,510,070

  • 17 · Accounts payable and accrued expenses

    end of year $40,368

  • 22 · Loans and payables to officers and key people

    end of year $20,000

  • 23 · Secured mortgages and notes payable

    end of year $3,730,143

  • 25 · Other liabilities

    end of year $30,000

  • 27 · Net assets without donor restrictions

    beginning of year $36,680 · end of year $20,102

Mission and programs · 2022

Mission

SCLT PROMOTES NEIGHBORHOOD STABILITY AND ENGAGEMENT THROUGH THE CREATION & PRESERVATION OF PERMANENTLY AFFORDABLE HOUSING BY OFFERING DEEPLY SUBSIDIZED HOMEOWNERSHIP OPPORTUNITIES TO LOW-INCOME RESIDENTS.

Activities or mission (Part I)

SCLT PROMOTES NEIGHBORHOOD STABILITY AND ENGAGEMENT THROUGH CREATION PRESERVATION OF PERMANENTLY AFFORDABLE HOUSING TO LOWINCOME RESIDENTS

  • SCLT PROMOTES NEIGHBORHOOD STABILITY AND ENGAGEMENT THROUGH THE CREATION & PRESERVATION OF PERMANENTLY AFFORDABLE HOUSING BY OFFERING DEEPLY SUBSIDIZED HOMEOWNERSHIP OPPORTUNITIES TO LOW-INCOME RESIDENTS. ADDITIONALLY, SCLT WORKS TO DEVELOP INNOVATIVE METHODS TO INCREASE HOMEOWNERSHIP, AND EMPOWERS LOW- AND MODERATE-INCOME PEOPLE ALONG WITH THOSE WHO SHARE ITS VISION OF COMMUNITY CONTROL OF LAND BY FOSTERING STEWARDSHIP OF PERPETUALLY AFFORDABLE HOMEOWNERSHIP AND RENTAL HOUSING AND PROVIDING SUPPORTIVE SERVICES.

    Expenses $243,834

As filed on the 2022 return.

Listed in Part VII

  • ELIZABETH HANEY

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • JILL ARNOLD

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • MICHAEL GINTZ

    CLERK

    Total calculated
    $0
    Hours/week
    1

  • DAVID GIBBS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JHENNY SAINT-SURIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • CHERAI MILLS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • BENJAMIN EWEN-CAMPEN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MIRANDA STROMINGER

    EXECUTIVE DIRECTOR

    Total calculated
    $42,756
    From this org
    $42,756
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • BENJAMIN BALDWIN

    EXECUTIVE DIRECTOR

    Total calculated
    $8,633
    From this org
    $8,633
    From related orgs
    $0
    Other
    $0
    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.

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.

  • SCLT COMMUNITY LAND LLC

    REAL ESTATE OPERATIONS · MA · income $270,297 · assets $3,840,613

    Directly controlled by SCLT INC

Provenance

Return type
form_990
Tax year
2022
Filed
15 February 2024
IRS schema version
2022v5.0
Source object
202430469349302573

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