Raleigh Area Land Trust
- Assets
- $1.1m
- Revenue
- $355.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Raleigh, NC
- Founding
- 09/2019
- Data as of
- 12/2022
- EIN
- 83-1319881
Organization Overview
Raleigh Area Land Trust is located in Raleigh, NC. The organization was established in 2019. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, 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. Raleigh Area Land Trust 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 12/2022, Raleigh Area Land Trust generated $355.4k in total revenue. The organization has seen a slow decline revenue. Over the past 2 years, revenues have fallen by an average of (2.3%) each year. All expenses for the organization totaled $58.0k during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE RALEIGH AREA LAND TRUST EXPANDS AFFORDABLE HOME-OWNERSHIP OPPORTUNITIES FOR FAMILIES WITH LOW TO MODERATE INCOMES SO THAT THEY ARE ABLE TO LIVE OR REMAIN IN COMMUNITIES OF THEIR CHOICE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BEGAN SITE PREPARATION FOR COTTAGES OF IDLEWILD, A 17-UNIT AFFORDABLE HOUSING DEVELOPMENT AIMING TO PROVIDE HOME PURCHASE AND RENTAL OPPORTUNITIES FOR LOW INCOME RESIDENTS (BELOW 80% AMI)
LAUNCHED HOMEOWNERSHIP PROGRAM TO QUALIFY HOMEBUYERS AND CONNECT THEM TO SERVICES TO SUPPORT SUCCESSFUL PURCHASE OF AFFORDABLE HOMES THROUGH THE COMMUNITY LAND TRUST
RENOVATED TWO HOMES TO BE MADE AVAILABLE TO LOW TO MODERATE INCOME HOMEBUYERS (BELOW 80% AMI)
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Joe Stevenson Director | Trustee | 1 | $0 |
Jeanne Tedrow Director | Trustee | 1 | $0 |
Kia Baker President | OfficerTrustee | 5 | $0 |
Louise Martin Secretary | OfficerTrustee | 1 | $0 |
Dr Rasheeda Monroe Director | Trustee | 1 | $0 |
Kevin Campbell Treasurer | OfficerTrustee | 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 | $345,551 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $345,551 |
| Total Program Service Revenue | $0 |
| Investment income | $66 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $9,229 |
| 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 | $355,363 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $250 |
| 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 | $51,477 |
| Advertising and promotion | $0 |
| Office expenses | $620 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $144 |
| 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 | $0 |
| Insurance | $2,015 |
| All other expenses | $0 |
| Total functional expenses | $58,004 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $113,862 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $150,000 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $60,578 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $9,570 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $805,627 |
| Total assets | $1,139,637 |
| Accounts payable and accrued expenses | $112,495 |
| 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 | $114,750 |
| Secured mortgages and notes payable | $130,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $357,245 |
| Net assets without donor restrictions | $782,392 |
| 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 | $1,139,637 |