Ithaka Land Inc
- Assets
- $3.6m
- Revenue
- $687.3k
- Investments
- $0.0
- Employees
- 10
- Location
- Colorado Springs, CO
- Founding
- 11/1981
- Data as of
- 12/2023
- EIN
- 74-2186914
Organization Overview
Ithaka Land Inc is located in Colorado Springs, CO. The organization was established in 1981. According to its NTEE Classification (C34) the organization is classified as: Land Resources Conservation, under the broad grouping of Environment and related organizations. As of 12/2023, Ithaka Land Inc employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ithaka Land 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, Ithaka Land Inc generated $687.3k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.4% each year. All expenses for the organization totaled $802.2k during the year ending 12/2023. While expenses have increased by 10.6% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO HELP PEOPLE OVERCOME THE CYCLE OF POVERTY AND HOMELESSNESS, SECURE STABLE, LONG-TERM HOUSING, AND ACHIEVE A SELF-DIRECTED VISION FOR THEIR LIVES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ITHAKA PROVIDES SAFE, AFFORDABLE, AND SUPPORTIVE TRANSITIONAL HOUSING SERVICES FOR AN ESTIMATED 100 RESIDENTS; INCLUDING SENIORS, IMMIGRANTS, FAMILIES IN HOUSING CRISIS, THOSE LEAVING INCARCERATION AND THOSE EXITING HOMELESSNESS. ITHAKA HAS BEEN HOUSING LOW-INCOME MEMBERS OF OUR COMMUNITY FOR 40 YEARS. WE ARE COMMITTED TO PROVIDING SUPPORT AND COMMUNITY TO ALL OUR RESIDENTS SO THAT THEY CAN ACHIEVE A SELF-DETERMINED VISION FOR THEIR OWN LIVES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Amner Carmona Molina Chair | OfficerTrustee | 1 | $0 |
Brent Sabati Treasurer | OfficerTrustee | 1 | $0 |
Patty Froehle Board Member | Trustee | 1 | $0 |
Frank Sinclair Board Member | Trustee | 1 | $0 |
Mackenzie Tamayo Board Member | Trustee | 1 | $0 |
Deborah Williams Board Member | Trustee | 1 | $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 | $220,819 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $220,819 |
| Total Program Service Revenue | $200,371 |
| Investment income | $106,056 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,025 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $687,273 |
| 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. | $80,795 |
| Compensation of current officers, directors, key employees. | $16,159 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $305,218 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $45,546 |
| Payroll taxes | $36,027 |
| 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 | $0 |
| Fees for services: Other | $2,429 |
| Advertising and promotion | $1,160 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $7,417 |
| 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 | $90,510 |
| Insurance | $37,971 |
| All other expenses | $41,118 |
| Total functional expenses | $802,224 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $503,682 |
| Savings and temporary cash investments | $976,183 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,112 |
| 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 | $2,099,970 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,583,947 |
| Accounts payable and accrued expenses | $16,259 |
| 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 | $405,456 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $21,791 |
| Total liabilities | $443,506 |
| Net assets without donor restrictions | $2,164,257 |
| Net assets with donor restrictions | $976,184 |
| 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 | $3,583,947 |