Dwelling Place Regional Community Land Trust
- Assets
- $3.5m
- Revenue
- $66.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Grand Rapids, MI
- Founding
- Data as of
- 12/2023
- EIN
- 85-1916187
Organization Overview
Dwelling Place Regional Community Land Trust is located in Grand Rapids, MI. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Dwelling Place Regional Community 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 12/2023, Dwelling Place Regional Community Land Trust generated $66.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (15.7%) each year. All expenses for the organization totaled $241.6k 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
TO PROVIDE OPPORTUNITIES FOR LOW-INCOME PEOPLE TO SECURE HOUSING THAT IS DECENT AND AFFORDABLE AND THAT IS CONTROLLED BY THEM ON A LONG-TERM BASIS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AS A COMMUNITY LAND TRUST, DP CLT PROVIDES VOLUNTARY ASSISTANCE FOR LOW-INCOME WORKING FAMILIES BY PROVIDING EQUITY FUNDING TO PERMANENTLY REDUCE THE COST OF HOMES FOR INCOME-QUALIFIED HOME BUYERS. LOW-INCOME HOUSEHOLDS WILL PURCHASE AND OWN AFFORDABLY PRICED HOMES AND ENTER AN 89 YEAR GROUND LEASE AGREEMENT GRANTING THEM AN EXCLUSIVE, DURABLE, ENFORCEABLE RIGHT TO THE LOT ON WHICH THEIR HOME SITS; THE LEASE WILL BE ASSIGNABLE TO QUALIFIED HEIRS AND RENEWABLE FOR A SECOND 89 YEAR TERM.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeremy Deroo Chief Executive Officer | OfficerTrustee | 0.1 | $0 |
Rich Kogelschatz Trustee | Trustee | 0.1 | $0 |
Lee Nelson Weber Chairperson | OfficerTrustee | 0.1 | $0 |
Doretha Ardoin Trustee | Trustee | 0.1 | $0 |
Gil Segovia Treasurer | OfficerTrustee | 0.1 | $0 |
Kim Sims Trustee | Trustee | 0.1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $55,806 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $50,250 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $55,806 |
| Total Program Service Revenue | $10,906 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $66,916 |
| 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 | $132,262 |
| Fees for services: Legal | $3,389 |
| Fees for services: Accounting | $2,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $30,938 |
| Advertising and promotion | $0 |
| Office expenses | $3,986 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $8,545 |
| Travel | $1,489 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,768 |
| Interest | $673 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $241,557 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $137,283 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $13,313 |
| 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 | $484,266 |
| Net Land, buildings, and equipment | $2,826,397 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,461,259 |
| Accounts payable and accrued expenses | $1,927 |
| Grants payable | $0 |
| Deferred revenue | $3,305 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $3,284,426 |
| Other liabilities | $0 |
| Total liabilities | $3,289,658 |
| Net assets without donor restrictions | $36,575 |
| Net assets with donor restrictions | $135,026 |
| 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 | $3,461,259 |