Overview
What is Elevation Community Land Trust?
Elevation Community Land Trust (ECLT) is a Colorado-based nonprofit organization headquartered in Denver, dedicated to providing affordable homeownership opportunities for eligible low-to-moderate income families. Using the community land trust model, ECLT acquires homes, rehabilitates them if necessary, and sells the improvements to qualified households while keeping the land in trust as a community asset. In doing so, ECLT ensures that the homes in its portfolio remain affordable for future generations. In 2022, ECLT sold 87 homes to qualified buyers, representing a substantial investment of $1,581,597 as a subsidy to maintain their affordability. With a team of 15 employees, ECLT partners with communities to create equitable opportunities for families through permanently affordable homeownership.
Official website here: www.elevationclt.org
Is Elevation Community Land Trust legitimate?
Elevation Community Land Trust is a legitimate nonprofit organization registered as a 501(c)(3) entity. Elevation Community Land Trust submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Here are some key statistics you may want to consider:
Executive Compensation: $571,536
Professional Fundraising Fees: $0
Other Salaries and Wages: $876,201
For more financial information, click here
Official website here: www.elevationclt.org
What is the mission statement of Elevation Community Land Trust?
The Elevation Community Land Trust works in partnership with communities to create equitable opportunities for families through permanent affordable homeownership. Using the community land trust model, they provide affordable homes to eligible low-to-moderate income families by selling the improvements on a property to a qualified household while keeping the land in trust as a community asset. In 2022, ECLT sold 87 homes, with the organization incurring a substantial loss to ensure the affordability of their properties for future generations. The loss, totaling $1,581,597 in that year, represents ECLT's investment in maintaining permanently affordable homes within their portfolio.
Official website here: www.elevationclt.org
Who is the CEO of Elevation Community Land Trust?
Stefka Fanchi is the President And Ceo of Elevation Community Land Trust. The CEO's salary of Elevation Community Land Trust is $184,993 and their total compensation is $241,785.
Official website here: www.elevationclt.org
What is the revenue of Elevation Community Land Trust?
Elevation Community Land Trust's revenue in 2022 was $12,223,973.
Official website here: www.elevationclt.org
Who are the executives of Elevation Community Land Trust and what are their salaries?
The average compensation at Elevation Community Land Trust during 2022 was $96,516. There are 15 employees and 10 volunteers at Elevation Community Land Trust.
Here are 16 key members and their salaries (Elevation Community Land Trust's CEO's salary is $184,993 and their total compensation is $241,785):
- Stefka Fanchi (President And Ceo)
- Robin Hickey (Chief Financial Officer)
- Lauren Debell (Chief Strategy Officer)
- Barbara Navin (Vice President Of Stewardship)
- David Ogunsanya (Vice President Of Real Estate)
- Tiana Patterson (Vp Social Impact & Wealth Equity)
- Jose Esparza (Director)
- Karen Fox Elwell (Secretary) [Trustee/Director]
- Anne Garcia (Vice Chair & Treasurer) [Trustee/Director]
- Shannon Gifford (Director)
- Tom Gougeon (Director)
- Susan Powers (Director)
- Dave Younggren (Chair) [Trustee/Director]
- Kelly Evans (Director)
- Camellia Fletcher (Director)
- Rodney Milton (Director)
Official website here: www.elevationclt.org
Where can I find the form 990 for Elevation Community Land Trust?
The Elevation Community Land Trust’s most recent form 990 was submitted in 2022 and can be accessed here
Official website here: www.elevationclt.org
Learn more at the official website: www.elevationclt.org
Mission Statement of Elevation Community Land Trust
Elevation Community Land Trust (ECLT) is a nonprofit organization that partners with communities to create equitable opportunities for families through the provision of permanently affordable homeownership. This innovative approach, known as the community land trust model, enables ECLT to sell the improvements on a property to eligible low-to-moderate income Colorado families while holding the land in trust as a community asset.
ECLT's mission in action involves the acquisition of homes, completion of necessary rehabilitation, and sale of the homes to qualified homebuyers at an affordable price. The cost to acquire and rehabilitate a property usually exceeds the affordable sales price, resulting in a significant investment by ECLT to ensure the homes in its portfolio remain permanently affordable for generations to come. In 2022, ECLT sold 87 homes, marking a notable achievement in providing affordable homeownership opportunities to families in need.
By implementing this unique model, ECLT plays a crucial role in addressing the affordable housing crisis and making a lasting impact on the lives of eligible families. This investment in community assets not only ensures the preservation of affordable homes but also contributes to the overall well-being and stability of the families and communities involved.
Impact
This information is meant to be a general summary of Elevation Community Land Trust. Please take the time to review official sources before making any decisions based upon the content provided here.
Thursday, August 15, 2024
Elevation Community Land Trust's impact lies in providing affordable homeownership opportunities to low-to-moderate income Colorado families through the innovative Community Land Trust model. By acquiring homes, rehabilitating them if necessary, and selling them to qualified households at affordable prices, ECLT ensures that these properties remain permanently affordable for generations to come. In 2022 alone, ECLT sold 87 homes to eligible buyers, demonstrating its commitment to creating equitable opportunities for families in the Denver area and beyond.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Assets and Liabilities:
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$1,323,509
PROPERTY DEVELOPMENT FEES
Revenue
$1,104,725
LAND TRUST INCOME
Revenue
$212,215
Organization Details
Founding Year
2020
Phone
(720) 822-0052
Principal Officer
Stefka Fanchi
Main Address
1114 W 7TH AVE SUITE 101, DENVER, CO, 80404
Website
www.elevationclt.org
NTEE Category
Code: L21 - Housing
If you are a representative of Elevation Community Land Trust and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.