Equity Trust Inc
- Assets
- $6.6m
- Revenue
- $595.9k
- Investments
- $257.2k
- Employees
- 3
- Location
- Amherst, MA
- Founding
- 07/1997
- Data as of
- 12/2023
- EIN
- 06-1337421
Organization Overview
Equity Trust Inc, operating under the name Non Profit 501 C 3, is located in Amherst, MA. The organization was established in 1997. According to its NTEE Classification (A20) the organization is classified as: Arts & Culture, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2023, Non Profit 501 C 3 employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Non Profit 501 C 3 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 12/2023, Non Profit 501 C 3 generated $595.9k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.1%) each year. All expenses for the organization totaled $382.4k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (5.7%) per year over the past 8 years. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE ECONOMIC AND SOCIAL JUSTICE THROUGH EQUITABLE ACCESS TO LAND AND CAPITAL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EQUITY TRUST FUND: ENABLING SOCIALLY CONSCIOUS LENDERS AND DONORS TO SUPPORT THE PRESERVATION OF AFFORDABLE WORKING FARMS, THE DEVELOPMENT OF AFFORDABLE HOUSING, AND THE IMPLEMENTATION OF OTHER SOCIALLY BENEFICIAL AND ENVIRONMENTALLY SUSTAINABLE PROJECTS. THE FUND ADDED FIVE NEW PROJECTS IN 2023. THE CURRENT PORFOLIO AS OF THE END OF THE YEAR INCLUDED THIRTY-FOUR PROJECTS REPRESENTING THE FULL RANGE OF THE FUND'S MISSION.
PROPERTY STEWARDSHIP: EQUITY TRUST OWNS AND STEWARDS PERMANENTLY PRESERVED AND AFFORDABLE FARM PROPERTIES IN NEW YORK AND NEW HAMPSHIRE, HOLDS CONSERVATION EASEMENTS PERMANENTLY PROTECTING FARM PROPERTIES IN CALIFORNIA AND MASSACHUSETTS, AND SUPPORTS AFFORDABLE HOUSING BY STEWARDING LAND AND HOLDING AFFORDABILITY RESTRICTIONS IN MASSACHUSETTS AND CONNECTICUT.
EDUCATION AND TECHNICAL ASSISTANCE TO PROMOTE THE ESTABLISHMENT AND SUSTAINABILITY OF ENVIRONMENTALLY SOUND FARMS THAT BENEFIT THEIR LOCAL COMMUNITIES. SUPPORT ACCESS TO FARMLAND FOR HISTORICALLY MARGINALIZED PEOPLE AND COMMUNITIES AND THE PERMANENT PROTECTION OF FARMLAND AND FARM INFRASTRUCTURE AND THEIR AFFORDABILITY FOR WORKING FARMERS. IN 2023, EQUITY TRUST'S WORK FOCUSED ON FARM LAND ACCESS FOR FARM WORKERS AND IMMIGRANT FARMERS; GUIDANCE TO LAND TRUSTS AND LAND OWNERS ON INNOVATIVE STRATEGIES FOR PROTECTING AND STEWARDING WORKING FARMS; AND RESPONDING TO ASSISTANCE REQUESTS FROM COMMUNITY GROUPS, FARMERS, LAND OWNERS, AND LAND TRUSTS FROM AROUND THE COUNTRY.
EDUCATION AND TECHNICAL ASSISTANCE TO EXISTING AND EMERGING COMMUNITY LAND TRUSTS WITH A MISSION TO HOLD AND STEWARD LAND FOR PERMANENTLY AFFORDABLE HOUSING, FOOD PRODUCTION, LOCAL ENTERPRISES, AND/OR COMMUNITY SPACE; SUPPORT FOR GROUPS ENGAGED IN DEVELOPMENT OF COMPLEMENTARY STRATEGIES FOR COMMUNITY STEWARDSHIP OF LAND AND PROPERTY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Russ Fox Director | Trustee | 2 | $0 |
Michael Wallace Director | Trustee | 2 | $0 |
Scott Reed President | OfficerTrustee | 2 | $0 |
Jody Bolluyt Vice President | OfficerTrustee | 2 | $0 |
Daniel Rosenberg Treasurer | OfficerTrustee | 2 | $0 |
Madeline Miller Clerk | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $439,713 |
| Noncash contributions included in lines 1a–1f | $151,200 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $439,713 |
| Total Program Service Revenue | $136,179 |
| Investment income | $19,975 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $595,867 |
| 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. | $62,934 |
| Compensation of current officers, directors, key employees. | $6,218 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $63,458 |
| Pension plan accruals and contributions | $3,792 |
| Other employee benefits | $3,822 |
| Payroll taxes | $10,846 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $12,065 |
| Advertising and promotion | $0 |
| Office expenses | $6,900 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $10,200 |
| Travel | $377 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $56,451 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,487 |
| All other expenses | $0 |
| Total functional expenses | $382,373 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $32,718 |
| Savings and temporary cash investments | $2,967,450 |
| Pledges and grants receivable | $12,392 |
| Accounts receivable, net | $24,198 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,739,557 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $257,152 |
| Investments—program-related | $548,542 |
| Intangible assets | $0 |
| Other assets | $477 |
| Total assets | $6,582,486 |
| Accounts payable and accrued expenses | $23,570 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $4,325,456 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $8,296 |
| Total liabilities | $4,357,322 |
| Net assets without donor restrictions | $563,397 |
| Net assets with donor restrictions | $1,661,767 |
| 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 | $6,582,486 |