Green Planet Company

Organization Overview

Green Planet Company is located in Guilford, CT. The organization was established in 2019. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Green Planet Company is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

THE PURPOSE OF THE CORPORATION IS TO DEVELOP, REDEVELOP, MANAGE, FINANCE, SPONSOR, INVEST IN, OWN, OPERATE AND/OR EXPAND THE AVAILABILITY OF LOW AND MODERATE INCOME, DISABLED, ELDERLY, MIXED-INCOME AND/OR MIXED-USE AFFORDABLE HOUSING DEVELOPMENTS, OR COMPONENTS THEREOF, IN THE STATE OF CONNECTICUT.

Describe the Organization's Program Activity:

Part 3 - Line 4a

DURING 2019 WE WERE ABLE COMPLETE THE PURCHASE OF THE 15 ACRE PROPERTY AT 376 STATE STREET, GUILFORD CT.DURING 2020, WE SUB-DIVIDED THE 15 ACRE PROPERTY AT 376 STATE STREET INTO 4 LOTS. THE EXISTING HOUSE PLUS 3 ACRES OF LAND WERE ON ONE LOT AND WAS SOLD DURING 2020 RESULTING IN A PARTIAL RE-PAYMENT OF THE ACQUISITION LOAN. WORK ON TWO LOTS (ONE 1 ACRE AND ONE 1.5 ACRES) WAS STARTED IN NOVEMBER, 2020 AS STAND ALONE AFFORDABLE HOMEOWNERSHIP HOMES. A SPECIAL PERMIT FROM THE TOWN OF GUILFORD PLANNING AND ZONING COMMISSION WAS GRANTED IN APRIL, 2020 FOR AN 8 UNIT COTTAGE COMMUNITY ON THE REMAINING 9.5 ACRE LOT. WORK ON THE FIRST 2 LOTS (PHASE 1) OF A 10 HOME AFFORDABLE HOMEOWNERSHIP PROJECT IN GUILFORD WAS 90% COMPLETE IN 2021. THE HOMES WERE UNDER CONTRACT WITH A CLOSING SCHEDULED FOR SPRING 2022. PRELIMINARY SITEWORK ON THE REMAINING 8 HOMES (PHASE 2) WAS STARTED. AS OF DECEMBER 31, 2021, WE HAVE SPENT A TOTAL OF $1,470,961 (NET OF $326,466 OF COSTS REMOVED WITH PROPERTY SOLD IN 2020) ON PROPERTIES AND DEVELOPMENT WORK AND HAVE INLUDED THESE AMOUNTS ON THE BALANCE SHEET. THESE COSTS INCLUDED THE PURCHASE OF THE PROPERTY AT 376 STATE STREET, GUILFORD CT AND VARIOUS COSTS RELATED TO THE DEVELOPMENT OF THIS PROPERTY THAT INCLUDED SURVEYS, ARCHTECTURAL, ENGINEERING, ENVIRONMENTAL, AND CONSTRUCTION.


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Board, Officers & Key Employees

Name (title)Compensation
George Christopher Widmer
President
$24,000
David Provencher
Secretary
$0
Michael Baron
Treasurer
$0
Betsy Sterzel
Board Member
$0
Linda Brill
Board Member
$0
David Anderson
Board Member
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $230,763
All other contributions, gifts, grants, and similar amounts not included above$26,000
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$256,763
Total Program Service Revenue$4,722
Investment income $2,291
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $8,871
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $272,647

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