Community Land Trust Association Of West Marin
- Assets
- $11.0m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 10
- Location
- Point Reyes Station, CA
- Founding
- 10/2002
- Data as of
- 12/2023
- EIN
- 94-3381744
Organization Overview
Community Land Trust Association Of West Marin is located in Point Reyes Station, CA. The organization was established in 2002. 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 12/2023, Community Land Trust Association Of West Marin employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Community Land Trust Association Of West Marin 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, Community Land Trust Association Of West Marin generated $1.9m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 21.6% each year . All expenses for the organization totaled $1.2m during the year ending 12/2023. While expenses have increased by 18.2% per year over the past 9 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
THE MISSION OF THE COMMUNITY LAND TRUST ASSOCIATION OF WEST MARIN IS TO PROVIDE STABLE AND PERMANENTLY AFFORDABLE HOUSING IN AN ENVIRONMENTALLY RESPONSIBLE WAY IN THE COMMUNITIES SURROUNDING TOMALES BAY. AS A COMMUNITY LAND TRUST, CLAM HOLDS LAND AND HOUSING IN TRUST FOR THE COMMUNITY IN PERPETUITY WHILE CREATING HOUSING THAT WORKING PEOPLE CAN AFFORD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2023, CLAM PROVIDED ONGOING MANAGEMENT AND STEWARDSHIP OF ITS RENTAL PROPERTIES THAT PROVIDE 18 AFFORDABLE RENTALS IN THE WEST MARIN AREA. WE PROVIDED HOUSING TO 30 RENTERS IN 18 RENTAL HOUSING UNITS AND TWO AFFORDABLE OWNERSHIP HOMES. SIGNIFICANT IMPROVEMENTS WERE MADE ON TWO RENTAL APARTMENT BUILDINGS CLAM OWNS - THE MESA APTS AND OCEAN TERRACE. IN JANUARY 2023, CLAM PURCHASED 60 THIRD STREET IN DOWNTOWN POINT REYES STATION TO BE PRESERVED AS AFFORDABLE, COMMUNITY HOUSING IN PERPETUITY. THE PROPERTY WAS PURCHASED FOR $630,000, WELL BELOW THE PROPERTY'S ESTIMATED MARKET VALUE OF $930,000. IN 2022, CLAM STARTED AN EXCITING NEW PROPERTY ACQUISITION STRATEGY AS PART OF ITS AGE-IN-PLACE INITIATIVE, USING A RETAINED LIFE ESTATE AGREEMENT WITH A LOCAL HOMEOWNER IN POINT REYES STATION. IN 2023 CLAM CONTINUED RENOVATIONS ON THESE TWO PROPERTIES.
IN 2023, CLAM CONTINUED OUR WORK TO SECURE THE COAST GUARD NEIGHBORHOOD PROJECT IN POINT REYES STATION TO PROVIDE 54 UNITS OF RENTAL HOUSING TO OVER 180 RESIDENTS. CLAM AND CO-DEVELOPMENT PARTNER EDEN HOUSING WORKED WITH OUR DESIGN TEAM, INCLUDING ARCHITECTS, AND A CONSULTING GENERAL CONTRACTOR, AND SEPTIC ENGINEERS TO COMPLETE THE PLANNING SUBMISSION PORTION OF THE LOW-INCOME HOUSING TAX CREDIT PROJECT. THIS PROJECT PLANNING SUBMISSION WAS DEEMED SUBSTANTIALLY COMPLETE AND THE PROJECT HAS MOVED INTO THE CEQA OR ENVIRONMENTAL PHASE OF PERMITTING, WHICH IS EXPECTED TO LAST UNTIL THE END OF 2024.
IN 2023, CLAMS REAL COMMUNITY RENTALS PROGRAM PROVIDED ASSESSMENTS FOR HOMEOWNERS THAT WANT TO ADD ADDITIONAL UNITS OF HOUSING. DUE TO FINANCIAL HARDSHIPS CREATED BY THE PANDEMIC, CLAM CONTINUED TO OPERATE A RESILIENCE FUND TO PROVIDE DIRECT RENTAL ASSISTANCE TO CLAMS RESIDENTS WHO NEEDED IT DUE TO SIGNIFICANT INCOME LOSS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Pam Dorr Executive Dir. | Officer | 40 | $138,044 |
Laura J Giacomini Development Direct | 40 | $125,899 | |
Pamela Wright President | OfficerTrustee | 8 | $0 |
Sarah Myers Trustee | Trustee | 2 | $0 |
Carol Whitman Secretary | OfficerTrustee | 2 | $0 |
Maureen Cornelia Trustee | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $379,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,180,460 |
| Noncash contributions included in lines 1a–1f | $9,705 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,559,460 |
| Total Program Service Revenue | $360,103 |
| Investment income | $21,406 |
| 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 | $1,940,969 |
| 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. | $151,071 |
| Compensation of current officers, directors, key employees. | $13,596 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $393,721 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $26,824 |
| Payroll taxes | $40,148 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $50,012 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $54,452 |
| Advertising and promotion | $22,454 |
| Office expenses | $16,778 |
| Information technology | $908 |
| Royalties | $0 |
| Occupancy | $71,533 |
| Travel | $3,353 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $776 |
| Interest | $53,738 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $121,012 |
| Insurance | $21,510 |
| All other expenses | $24,787 |
| Total functional expenses | $1,218,258 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $730,444 |
| Savings and temporary cash investments | $1,023,720 |
| Pledges and grants receivable | $598,743 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $35,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $38,068 |
| Net Land, buildings, and equipment | $8,423,939 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $11,848 |
| Other assets | $182,965 |
| Total assets | $11,044,727 |
| Accounts payable and accrued expenses | $88,093 |
| 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 | $3,131,264 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $72,828 |
| Total liabilities | $3,292,185 |
| Net assets without donor restrictions | $5,543,279 |
| Net assets with donor restrictions | $2,209,263 |
| 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 | $11,044,727 |