Norfolk Land Trust Inc
- Assets
- $4.9m
- Revenue
- $778.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Norfolk, CT
- Founding
- 01/1983
- Data as of
- 12/2022
- EIN
- 06-1072464
Organization Overview
Norfolk Land Trust Inc is located in Norfolk, CT. The organization was established in 1983. According to its NTEE Classification (C34) the organization is classified as: Land Resources Conservation, under the broad grouping of Environment and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Norfolk Land Trust Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Norfolk Land Trust Inc generated $778.1k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 35.7% each year . All expenses for the organization totaled $39.6k during the year ending 12/2022. While expenses have increased by 0.1% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ENCOURAGE THE PRESERVATION OF OPEN SPACE IN NORFOLK, CT AND SURROUNDING COMMUNITIES FOR THE PUBLIC BENEFIT AND TO SERVE AS A VEHICLE FOR MANAGING AND MAINTAINING LAND THAT HAS BEEN SET ASIDE FOR OPEN SPACE PURPOSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION INCURRED COSTS TO ACQUIRE LAND FOR PRESERVATION, STEWARDSHIP COSTS FOR EXISTING LAND HELD FOR CONSERVATION PURPOSES AND VARIOUS ANCILLARY ACTIVITIES SUCH AS TRAIL MANAGEMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephen Getz Treasurer | OfficerTrustee | 2 | $0 |
Barry Roseman Director | Trustee | 1 | $0 |
Walter Godlewski Vice President | OfficerTrustee | 2 | $0 |
Grant Mudge Director | Trustee | 1 | $0 |
Cailtin Macy Director | Trustee | 1 | $0 |
Elizabeth Borden Co-President | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $586,500 |
| All other contributions, gifts, grants, and similar amounts not included above | $220,238 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $806,738 |
| Total Program Service Revenue | $0 |
| Investment income | $12,302 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$32,034 |
| Net Income from Fundraising Events | -$9,285 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $778,139 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $5,378 |
| Fees for services: Other | $3,305 |
| Advertising and promotion | $0 |
| Office expenses | $992 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $4,062 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,711 |
| Insurance | $10,131 |
| All other expenses | $25 |
| Total functional expenses | $39,576 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $26,370 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $4,223,881 |
| Investments—publicly traded securities | $547,128 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $88,528 |
| Other assets | $21 |
| Total assets | $4,885,928 |
| Accounts payable and accrued expenses | $2,000 |
| Grants payable | $0 |
| Deferred revenue | $10,700 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $12,700 |
| Net assets without donor restrictions | $4,818,426 |
| Net assets with donor restrictions | $54,802 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $4,885,928 |