Beverly-Vermont Community Land Trust

BEVERLY VERMONT COMMUNITY LAND TRUST IS A COMMUNITY-BASED ORGANIZATION DEDICATED TO PROVIDING OPPORTUNITIES FOR LOW-TO-MODERATE INCOME RESIDENTS TO SECURE HOUSING THAT IS DECENT, AFFORDABLE AND CONTROLLED BY THE RESIDENTS ON A LONG-TERM BASIS. IT IS EQUALLY DEDICATED TO USING LAND AND NATURAL RESOURCES TO PROMOTE THE LONG-TERM WELL-BEING OF THE COMMUNITY AND THE ENVIRONMENT. OUR LONG-TERM GOAL IS TO ENSURE CONTINUED AND EXPANDED LONG-TERM AFFORDABLE RESIDENT-CONTROLLED HOUSING OPPORTUNITIES FOR LOW TO MODERATE INCOME RESIDENTS, ENVIRONMENTAL RESTORATION, PEDESTRIA-ORIENTED TRANSPORTATION, RECREATIONAL GREEN SPACE AND SUSTAINABLE SMALL BUSINESS.

PROGRAM SERVICE ACCOMPLISHMENTS DURING THE YEAR ENDED DECEMBER 31, 2021 INCLUDE THE FOLLOWING: -RECEIVED IN-KIND CONTRIBUTIONS OF TWO MULTIFAMILY PROPERTIES AND BROUGHT THEM INTO PERMANENT AFFORDABILITY. THIS INCLUDES ONE 4-UNIT BUILDING IN KOREATOWN AND ONE 5-UNIT BUILDING IN NORTH HOLLYWOOD.-OBTAINED $94,400 IN DEVELOPMENT INCOME THROUGH THE RECEIPT OF THE TWO MULTIFAMILY PROPERTIES.-RECEIVED $4,920 IN GROSS RECEIPTS THROUGH OUR FIRST BVCLT FUNDRAISER.-EARNED $10,200 IN STIPENDS THROUGH PROJECTS BVCLT STAFF PARTICIPATED IN.-MOST OF OUR GRANTS WERE OBTAINED THROUGH THE LACLT COALITION FUNDING. THIS INCLUDES FUNDING FOR STAFF SALARIES THROUGH 2023.BVCLT BUSINESS MODELBVCLT'S CURRENT BUSINESS MODEL IS A ROAD MAP TO OUR IDEAL BUSINESS MODEL, WHICH WOULD MAKE OUR ORGANIZATION AND COMMUNITY SELF-SUSTAINING. THIS MEANS THAT WE WOULD NOT BE DEPENDENT ON PHILANTHROPY TO OPERATE AND HAVE PAID STAFF. OUR CURRENT BUSINESS MODEL RELIES PRIMARILY ON GRANT FUNDS FROM THE CHAN ZUCKERBERG INITIATIVE (CZI) AND THE IRVINE FOUNDATION TO THE LOS ANGELES COMMUNITY LAND TRUST (LACLT) COALITION TO PAY FOR BVCLT'S STAFF, PAY DEVELOPMENT FEES TO SUPPLEMENT OUR COMMUNITY PROGRAMMING, AND TO PAY SMALL GRANTS FROM FUNDERS FOR SPECIFIC PROJECTS. THE REST OF OUR INCOME IS SUPPLEMENTED BY OUR GROUND LEASE FEE FROM US-TU, COMMUNITY LAND TRUST (CLT) MAINTENANCE FEES FROM OUR OTHER BUILDINGS, CONTRIBUTIONS AND FUNDRAISING INCOME, AND MEMBERSHIP DUES TO SUSTAIN OPERATIONS. OUR LARGEST EXPENSE IS OUR STAFF, OUR SECOND LARGEST IS OUR ORGANIZATIONAL OPERATIONAL COSTS, AND THIRD LARGEST IS OUR PROGRAMMING. OUR PROPERTIES COVER THEIR OWN EXPENSES THROUGH THEIR RENT REVENUE. ANY SURPLUS OF EACH PROPERTY'S RENT REVENUE REMAINS WITH THE PROPERTY AND DOES NOT GO TO BVCLT.THE FINAL AND IDEAL BUSINESS MODEL WE WANT TO ACHIEVE IS TO CREATE A COMMUNITY THAT FEEDS BACK INTO OUR COMMUNITY LAND TRUST. THAT WAY WE ARE GOVERNED AND FUNDED BY THE COMMUNITY WE ARE CREATING AND ARE NO LONGER DEPENDING ON PRIVATE FUNDERS TO SUSTAIN US AND OUR OPERATIONS. THIS WOULD MEAN OUR PRIMARY SOURCES OF INCOME WOULD BE OUR GROUND LEASE FEES, CLT MAINTENANCE FEES, DONATIONS, MEMBERSHIP DUES, AND THE FUNDRAISER WHICH WOULD SUPPORT AT LEAST ONE STAFF MEMBER'S SALARY. IN ADDITION TO APPLYING FOR AND RECEIVING GENERAL PURPOSE GRANTS, WE ARE FOCUSING TOWARDS OBTAINING GRANTS TO FUND PROJECTS AND HIRE ADDITIONAL STAFF.TO ACHIEVE THIS BUSINESS PLAN, WE NEED TO GROW OUR PROPERTY PORTFOLIO. THIS IS IN LINE WITH OUR MISSION TO ACQUIRE MULTIFAMILY BUILDINGS WHERE WORKING-CLASS TENANTS ARE CURRENTLY RESIDING AND REMOVING THAT PROPERTY FROM THE PRIVATE MARKET.TAKE-AWAYS AND NEXT STEPS-BVCLT NEEDS TO BUILD AN INDIVIDUAL RELATIONSHIP WITH A RECURRING FUNDER THAT WILL FUND BVCLT COMMUNITY PROJECTS AND/OR OPERATING OVERHEAD TO COVER AT LEAST ONE STAFF PERSON.-BVCLT NEEDS TO 1) IDENTIFY FUNDING SOURCES COMING DOWN THE STATE PIPELINE, 2) DEVELOP AN ACQUISITIONS CRITERIA, AND 3) DEVELOP A COMMUNITY PIPELINE FOR RESIDENTS TO IDENTIFY WHEN BUILDINGS THEY LIVE IN OR IN THEIR NEIGHBORHOODS ARE NOT DOING WELL/MIGHT BE GOING UP FOR SALE FOR BVCLT TO ENGAGE WITH THE OWNER BEFORE IT GOES ON THE MARKET.-BVCLT NEEDS TO DEVELOP MORE CONSISTENT INDIVIDUAL DONORS AND INCREASE MEMBERSHIP.-BVCLT NEEDS TO REEVALUATE THEIR CURRENT GROUND LEASE FEE AND FUTURE GROUND LEASE FEE AMOUNTS.-BVCLT NEEDS TO DEVELOP A BUSINESS PLAN THAT WOULD IDENTIFY HOW LARGE IT NEEDS TO SCALE TO FINANCIALLY SUSTAIN ITSELF.