Southern Arizona Land Trust Inc
- Assets
- $20.7m
- Revenue
- $2.6m
- Investments
- $0.0
- Employees
- 7
- Location
- Tucson, AZ
- Founding
- 04/2009
- Data as of
- 12/2023
- EIN
- 26-2948288
Organization Overview
Southern Arizona Land Trust Inc is located in Tucson, AZ. The organization was established in 2009. According to its NTEE Classification (S32) the organization is classified as: Rural Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Southern Arizona Land Trust Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Southern Arizona 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 12/2023, Southern Arizona Land Trust Inc generated $2.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (4.6%) each year. All expenses for the organization totaled $1.9m during the year ending 12/2023. 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
THE MISSION OF SOUTHERN ARIZONA LAND TRUST INC. IS TO PROMOTE COMMUNITY INTERESTS IN PIMA COUNTY AND SOUTHERN ARIZONA BY INVESTING IN AND REVITALIZING NEIGHBORHOODS THROUGH THE DEVELOPMENT OF QUALITY AFFORDABLE HOUSING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INVEST AND REVITALIZE AREAS IN TUCSON HIT HARDEST IN THE GREAT RECESSION WITH GRANT FUNDING RECEIVED FROM THE NEIGHBORHOOD STABILIZATION PROGRAM 2 (NSP2) AND IN SUPPORT OF THE ACTIVITIES OF THE INDUSTRIAL DEVELOPMENT AUTHORITY OF PIMA COUNTY. ACCOMPLISHMENT: TOTAL RENTAL PORTFOLIO INCLUDES 128 SINGLE FAMILY HOMES, 20% OF WHICH, SERVE FAMILIES AT OR BELOW 50% OF MEDIAN INCOME (AMI). THIS PROGRAM SERVICE CONTINUES TO ACCOMPLISH STABLE AFFORDABLE HOUSING WITH THE AVERAGE LENGTH OF OCCUPANCY OF APPROXIMATELY FIVE (5) YEARS.
SUPPORT THE AFFORDABLE HOUSING AND ECONOMIC DEVELOPMENT PURPOSES AND ACTIVITIES OF THE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE COUNTY OF PIMA. ACCOMPLISHMENT: DEVELOPED AND CONSTRUCTED 4 SINGLE-FAMILY HOMES (CDP) FOR THE PURPOSE OF PROVIDING NEW AFFORDABLE HOUSING TO MODERATE INCOME FAMILIES IN TUCSON. 100% OF THE HOMES BUILT WERE ADDED TO THE EXISTING RENTAL PORTFOLIO. THE LATEST 1.2M PROJECT AT CORAZON DEL PUEBLO (CDP) PROVIDED ECONOMIC OPPORTUNITIES FOR SUBCONSTRACTORS, VENDORS AND MATERIAL SUPPLIERS. THIS NEW CONSRUCTION ACTIVITY, WHICH CONVERTED VACANT LOTS INTO NEW ENERGY EFFICIENT HOMES & ADDED VALUABLE HOUSING STOCK TO A COMMUNITY THAT IS LACKING AFFORDABLE HOUSING INVENTORY.
PROVIDE NEW AFFORDABLE HOUSING TO LOW INCOME AND MODERATE INCOME FAMILIES IN TUCSON THROUGH DEVELOPMENT OF LANDBANK PROPERTIES. BELNOR VISTA: SECURED WATER TO BLOCK I & BLOCK V, DESIGNING LOT LAYOUT AND SEWER PLANS FOR BLOCK I. BENTLEY ON THE LOOP: STARTED CONSTRUCTION ON THREE NEW ENERGY EFFICIENT AND AFFORDABLE HOMES. EMERY PARK PLACE: OBTAINED A GRANT COMMITMENT AS A CO-APPLICANT TO BUILD FOUR(4) DUPLEXES. PINAL VISTA PLACE: PLANNING THE INSTALLATION OF UTILITIES, GRADING AND DEVELOPMENT ACTIVITIES FOR THIS NEW SIX (6) LOT SUBDIVISION WHICH COULD EITHER BE A HOMEOWNERSHIP OR RENTAL PROJECT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gregg T Sasse Executive Di | Officer | 40 | $154,790 |
Debra Seidl Acct/finance | Officer | 40 | $93,035 |
Shaima Namaziford Board Secret | OfficerTrustee | 0.25 | $0 |
Kenneth Silverman Board Treasu | OfficerTrustee | 0.33 | $0 |
Frank Valenzuela Board Chairm | OfficerTrustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Doucette Homes Inc Construction | 12/30/16 | $569,610 |
Shorbe Construction & Consulting Llc Construction | 12/30/16 | $208,879 |
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 | $36,855 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $36,855 |
| Total Program Service Revenue | $1,724,289 |
| Investment income | $14,998 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $753,335 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,569,672 |
| 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. | $285,697 |
| Compensation of current officers, directors, key employees. | $42,468 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $248,154 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $50,545 |
| Payroll taxes | $37,966 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $14,354 |
| Fees for services: Accounting | $18,480 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $9,831 |
| Fees for services: Other | $14,277 |
| Advertising and promotion | $7,606 |
| Office expenses | $36,837 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $532,070 |
| Travel | $27,873 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $177,694 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $405,477 |
| Insurance | $14,178 |
| All other expenses | $0 |
| Total functional expenses | $1,891,881 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $661,014 |
| Savings and temporary cash investments | $211,051 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,087 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,085 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $35,803 |
| Net Land, buildings, and equipment | $16,183,472 |
| Investments—publicly traded securities | $1,034,241 |
| Investments—other securities | $0 |
| Investments—program-related | $2,537,823 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $20,670,576 |
| Accounts payable and accrued expenses | $240,240 |
| Grants payable | $0 |
| Deferred revenue | $180,130 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $2,000,000 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $3,203,501 |
| Other liabilities | $0 |
| Total liabilities | $5,623,871 |
| Net assets without donor restrictions | $15,046,705 |
| Net assets with donor restrictions | $0 |
| 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 | $20,670,576 |