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← COMMUNITY RESOURCE TR

Form 990 for tax year 2024

Filed by COMMUNITY RESOURCE TR.

Totals

Total revenue
$105,012
Total expenses
$369,838
Contributions and grants received
$24,446
Grants paid
$157,955
Program service revenue
$80,547
Investment income
$19
Other revenue
$0
Total assets, end of year
$2,323,390
Total liabilities, end of year
$587,720
Net assets or fund balances, end of year
$1,735,670
Program services expenses (Part IX)
$316,316
Management and general expenses
$53,522
Fundraising expenses
$0
Program service expenses (Part III)
$316,316

Program services were 85.5% 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.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $0

  • 1d · Related organizations

    $0

  • 1e · Government grants (contributions)

    $22,946

  • 1f · All other contributions, gifts and grants

    $1,500

  • 1g · Noncash contributions included above

    $0

  • 2a · Program service revenue: INCENTIVE MANAGEMENT FEES

    total $40,000 · related or exempt $40,000 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: HOUSING PROJECT LOAN INTEREST INCOME

    total $35,378 · related or exempt $35,378 · unrelated business $0 · excluded $0

  • 2c · Program service revenue: DEVELOPER FEES

    total $5,169 · related or exempt $5,169 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $19 · related or exempt $19 · unrelated business $0 · excluded $0

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

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 8a · Fundraising events: contributions included on line 1c

    $0

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $157,955 · program services $157,955

  • 2 · Grants to domestic individuals

    total $0 · program services $0

  • 3 · Grants to foreign organizations and individuals

    total $0 · program services $0

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 5 · Compensation of officers, directors and key employees

    total $133,250 · program services $113,262 · management and general $19,988 · fundraising $0

  • 6 · Compensation of disqualified persons

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 7 · Other salaries and wages

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 8 · Pension plan contributions

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 9 · Other employee benefits

    total $16,135 · program services $13,715 · management and general $2,420 · fundraising $0

  • 10 · Payroll taxes

    total $9,505 · program services $8,079 · management and general $1,426 · fundraising $0

  • 11a · Fees: management

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11b · Fees: legal

    total $3,220 · program services $180 · management and general $3,040 · fundraising $0

  • 11c · Fees: accounting

    total $21,025 · program services $0 · management and general $21,025 · fundraising $0

  • 11d · Fees: lobbying

    total $13,000 · program services $13,000 · management and general $0 · fundraising $0

  • 11e · Fees: professional fundraising services

    total $0 · fundraising $0

  • 11f · Fees: investment management

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11g · Fees: other

    total $2,329 · program services $0 · management and general $2,329 · fundraising $0

  • 12 · Advertising and promotion

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $2,425 · program services $1,370 · management and general $1,055 · fundraising $0

  • 14 · Information technology

    total $6,665 · program services $5,665 · management and general $1,000 · fundraising $0

  • 15 · Royalties

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 16 · Occupancy

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 17 · Travel

    total $152 · program services $147 · management and general $5 · fundraising $0

  • 18 · Travel or entertainment for public officials

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $1,251 · program services $456 · management and general $795 · fundraising $0

  • 23 · Insurance

    total $2,480 · program services $2,108 · management and general $372 · fundraising $0

  • 24a · Other expenses: BUSINESS REGISTRATION FEES

    total $446 · program services $379 · management and general $67 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $488,795 · end of year $216,477

  • 2 · Savings and temporary cash investments

    beginning of year $707,266 · end of year $653,616

  • 4 · Accounts receivable

    beginning of year $79,844 · end of year $275,443

  • 7 · Other notes and loans receivable

    beginning of year $1,206,173 · end of year $1,151,471

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,077 · end of year $1,383

  • 10c · Land, buildings and equipment, net

    beginning of year $0

  • 15 · Other assets

    beginning of year $25,000 · end of year $25,000

  • 17 · Accounts payable and accrued expenses

    beginning of year $43,435 · end of year $84,582

  • 23 · Secured mortgages and notes payable

    beginning of year $503,138 · end of year $503,138

  • 27 · Net assets without donor restrictions

    beginning of year $1,617,473 · end of year $1,644,357

  • 28 · Net assets with donor restrictions

    beginning of year $344,109 · end of year $91,313

Mission and programs · 2024

Mission

Primarily, this corporation is organized to achieve the objectives of reducing poverty through: pursing economic wellness; fostering low-income housing; providing structures in which charitable organizations are located; and promoting education in the State of Oregon.

Activities or mission (Part I)

Primarily, this corporation is organized to achieve the objectives of reducing poverty through: pursuing economic wellness; fostering low-income housing; providing structures in which charitable organizations are located; and promoting education.

  • Community Resource Trust has collaborated with Oregon Housing and Community Services, Key Community Development Corporation, the City of Salem, and Mountain West Investment Corporation, to build 180 low-income housing units in the city of Salem, Oregon. The project is complete and fully-leased. Community Resource Trust (CRT) applied to Oregon Housing and Community Services (OHCS) for funding to build 183 units of low-income housing in collaboration with Neighborly Development. CRT obtained conditional funding reservation approval and are currently in the financial feasibility phase with OHCS - with an estimated financial closing date and ground-breaking in 2026.

    Expenses $158,361 · Revenue $75,378

  • Community Resource Trust is serving as Project Sponsor and Managing Member for the Woodburn Opportunity Center. Together with Immanuel Lutheran Church, they have formed an LLC to own and operate the center. Community Resource Trust is serving as Project Sponsor for funding applications and contribute secured funds into the project. The project is currently in its predevelopment stage.

    Expenses $60,000 · Grants $60,000 · Revenue $1,500

  • Community Resource Trust is currently funding the School Innovation Collaboration project, which is designed to improve attendance and achievement rates in 3 high schools and 2 elementary schools in Salem, Oregon.

    Expenses $97,955 · Grants $97,955

As filed on the 2024 return.

Listed in Part VII

  • Beth Hays

    Executive Director

    Total calculated
    $149,385
    From this org
    $133,250
    From related orgs
    $0
    Other
    $16,135
    Hours/week
    40

  • Chuck Swank

    Board Chair

    Total calculated
    $0
    Hours/week
    1

  • Shaney Starr

    Board Secretary

    Total calculated
    $0
    Hours/week
    1

  • Victoria Shinn

    Board Treasurer

    Total calculated
    $0
    Hours/week
    1

  • George Jennings

    Board Director

    Total calculated
    $0
    Hours/week
    1

  • Carlotta Alverson

    Board Director

    Total calculated
    $0
    Hours/week
    1

  • Kaley Fought

    Board Director

    Total calculated
    $0
    Hours/week
    1

  • Paul De Muniz

    Board Director

    Total calculated
    $0
    Hours/week
    1

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

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.

  • CORNERSTONE GP LLC

    CONSTRUCTION OF AFFORDABLE HOUSING · OR · income $75,378 · assets $11,114

    Directly controlled by CRT

  • CRTCTEC LLC

    BUILDING OWNERSHIP · OR · income $0 · assets $0

    Directly controlled by CRT

  • CRTGWOC LLC

    MANAGING MEMBER OF COMMUNITY CENTER · OR · income $60,500 · assets $147,913

    Directly controlled by CRT

Related partnerships

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

  • CORNERSTONE APARTMENTS LP

    Related · AFFORDABLE HOUSING CONSTRUCTION · OR · 0.005% owned · general or managing partner

    Directly controlled by COMMUNITY RESOURCE TRUST

  • GREATER WOODBURN OPPORTUNITY CENTER LLC

    Related · Community center for the benefit of the community · OR · 80% owned · share of income $48,400 · share of assets $118,331 · general or managing partner

    Directly controlled by CRTGWOC LLC IMMANUEL LUTHERAN CHURCH

Provenance

Return type
form_990
Tax year
2024
Filed
15 October 2025
IRS schema version
2024v5.0
Source object
202522889349303152

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