Opal Community Land Trust
- Assets
- $30.3m
- Revenue
- $3.2m
- Investments
- -$103.0
- Employees
- 8
- Location
- Eastsound, WA
- Founding
- 11/1994
- Data as of
- 12/2021
- EIN
- 94-3116010
Organization Overview
Opal Community Land Trust is located in Eastsound, WA. The organization was established in 1994. 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. As of 12/2021, Opal Community Land Trust employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Opal 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 12/2021, Opal Community Land Trust generated $3.2m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.8%) each year. All expenses for the organization totaled $528.2k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (14.2%) per year over the past 7 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF OPAL COMMUNITY LAND TRUST IS TO HELP SUSTAIN ORCAS ISLAND AS A HEALTHY, ECONOMICALLY DIVERSE COMMUNITY BY PROVIDING PERMANENTLY AFFORDABLE HOMES AND RELATED EDUCATION AND SUPPORT FOR ISLANDERS-FAMILIES, SENIORS AND SINGLES - WHOSE HOUSING NEEDS ARE NOT MET BY THE TRADITIONAL MARKET.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEVELOP HOMES AFFORDABLE TO LOW TO MODERATE INCOME HOUSEHOLDS AND LEASE LAND TO QUALIFIED PROPERTY OWNERS. PROVIDED NEW OWNERSHIP OPPORTUNITY FOR EIGHT ADDITIONAL LOW AND MODERATE INCOME HOUSEHOLDS. PROVIDE HOMEBUYER EDUCATION AND HOMEOWNERSHIP FINANCIAL COUNSELING TO QUALIFIED RESIDENTS OF ORCAS ISLAND IN SAN JUAN COUNTY. ASSISTED 51 HOUSEHOLDS.
MANAGED RENTAL PROPERTY AND PROVIDED ADMINISTRATIVE AND TECHNICAL SUPPORT TO LEASEHOLD PROPERTIES. PROVIDED SERVICES FOR HOUSEHOLDS, INCLUDING FACILIATING RESALES OF EXISTING LEASEHOLD HOMES.
DEVELOP HOMES AFFORDABLE TO LOW TO MODERATE INCOME HOUSEHOLDS AND LEASE LAND TO QUALIFIED PROPERTY OWNERS. PROVIDED NEW OWNERSHIP OPPORTUNITY FOR EIGHT ADDITIONAL LOW AND MODERATE INCOME HOUSEHOLDS. PROVIDE HOMEBUYER EDUCATION AND HOMEOWNERSHIP FINANCIAL COUNSELING TO QUALIFIED RESIDENTS OF ORCAS ISLAND IN SAN JUAN COUNTY. ASSISTED 51 HOUSEHOLDS.
MANAGED RENTAL PROPERTY AND PROVIDED ADMINISTRATIVE AND TECHNICAL SUPPORT TO LEASEHOLD PROPERTIES. PROVIDED SERVICES FOR HOUSEHOLDS, INCLUDING FACILIATING RESALES OF EXISTING LEASEHOLD HOMES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elisabeth Byers Executive Dir. | Officer | 40 | $101,856 |
Minor Lile Treasurer | Officer | 2 | $0 |
Tim Fuller President | Officer | 2 | $0 |
Anne Bertino Secretary | Officer | 2 | $0 |
Margaret Mills Vice President | Officer | 2 | $0 |
Maggie Vinson Trustee | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $143,409 |
| Related organizations | $0 |
| Government grants | $225,922 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,154,499 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,523,830 |
| Total Program Service Revenue | $551,915 |
| Investment income | $123,834 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$19,898 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,185,128 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $58,232 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $112,841 |
| Compensation of current officers, directors, key employees. | $23,059 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $400,038 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $48,743 |
| 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 | $80,794 |
| Advertising and promotion | $0 |
| Office expenses | $48,923 |
| Information technology | $10,744 |
| Royalties | $0 |
| Occupancy | $321,494 |
| Travel | $3,393 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $162,699 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $15,853 |
| Insurance | $63,862 |
| All other expenses | -$2,681,809 |
| Total functional expenses | $528,195 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $719,869 |
| Savings and temporary cash investments | $1,156,980 |
| Pledges and grants receivable | $5,150 |
| Accounts receivable, net | $50,472 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $10,860,835 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $15,606,793 |
| Investments—publicly traded securities | $1,475,038 |
| Investments—other securities | -$103 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $440,722 |
| Total assets | $30,315,756 |
| Accounts payable and accrued expenses | $467,755 |
| 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 | $5,927,518 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $40,667 |
| Total liabilities | $6,435,940 |
| Net assets without donor restrictions | $22,903,125 |
| Net assets with donor restrictions | $976,691 |
| 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 | $30,315,756 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Opal Community Land Trust has recieved totaling $4,000.
| Awarding Organization | Amount |
|---|---|
Greer-Solien Fund Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED | $2,500 |
Organization Name not Listed PURPOSE: GENERAL SUPPORT | | $1,500 |
Endowment Analysis
| Beg. Balance | $602,326 |
| Earnings | $34,646 |
| Ending Balance | $636,972 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Plymouth Housing Group Seattle, WA | $309,732,107 | $48,610,871 |
Reach Community Development Inc Portland, OR | $100,210,196 | $29,644,026 |
Archdiocesan Housing Authority Seattle, WA | $126,256,041 | $25,902,954 |
Herons Key Redmond, WA | $136,208,870 | $21,024,453 |
Oregon Coast Community Action Coos Bay, OR | $16,109,030 | $18,585,692 |
Habitat For Humanity Portland Metro East Portland, OR | $35,667,707 | $17,313,274 |
Oregon Affordable Housing Assistance Corporation Salem, OR | $27,410,918 | $14,226,353 |
Habitat For Humanity International Renton, WA | $48,435,558 | $16,565,200 |
Umpqua Community Development Corporation Roseburg, OR | $52,044,965 | $9,776,284 |
Northwest Real Estate Capital Corporation Boise, ID | $42,438,639 | $10,028,848 |
Bienestar Inc Hillsboro, OR | $44,494,101 | $8,073,400 |
Sequoia Mental Health Services Inc Beaverton, OR | $13,233,092 | $9,043,542 |