Diamond State C L T Inc.
Diamond State C L T Inc.
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About this organization
Mission
To strengthen Delaware communities by creating and stewarding forever affordable housing while promoting sustainable use of the land. We do this by maintaining an inventory of affordable, decent homes for ownership opportunities to low-moderate income individuals & families in Delaware.
About
Land is the most critical factor in determining the cost of a new home. The Diamond State CLT community land trust makes housing affordable by the unique method of sharing equity gains between the CLT and the homeowner, thereby lessening the impact of land and locational factors and allowing the home to remain affordable to subsequent buyers. With 41 homes in its portfolio throughout the state, DSCLT recognizes the continuing need for more affordable housing to modest income households that will remain affordable for future generations. Further, the organization promotes the concept that the funding it receives to help make those homes affordable should be preserved over the long-term so that future generations will be able to afford home ownership. DSCLT has preserved over $4.2 million in public investment. Housing and land prices have continued their upward trajectory, increasing the affordability gap for modest income households. DSCLT is committed to working with its community partners to provide more affordable housing inventory and more affordable housing choices to those willing to work for their dream of home ownership while permanently preserving that affordability.
Interesting data from their 2020 990 filing
From their filing, the objective of the non-profit is stated as “To strengthen delaware communities by creating and stewarding forever affordable housing while promoting sustainable use of the land. we do this by maintaining an inventory of affordable, decent homes for ownership opportunities to low-moderate income individuals & families in delaware.”.
When talking about its functions, they were outlined as: “To strengthen delaware communities by creating and stewarding forever affordable housing while promoting sustainable use of the land. we do this by maintaining an inventory of affordable, decent homes for ownership opportunities to low-moderate income individuals & families in delaware.”.
- The legally reported state of operation for the non-profit is DE.
- According to the filing, the non-profit's address in 2020 is 27768 Possum Point Rd, Millsboro, DE, 19966.
- The non-profit organization as of 2020 has a total of 4 employees reported on their form.
- Does not operate a hospital.
- Does not operate a school.
- Does not collect art.
- Does not provide credit counseling.
- Does not have foreign activities.
- Is not a donor advised fund.
- Is not a private foundation.
- Expenses are between $250,000 and $500,000.
- Revenue is between $500,000 and $1,000,000+.
- Revenue less expenses is $271,917.
- The CEO's compensation within the organization is determined through a thorough evaluation by an impartial entity.
- The organization elects its board members.
- The organization has a written policy that describes how long it will retain documents.
- The organization has 7 independent voting members.
- The organization was formed in 2006.
- The organization has a written policy that addresses conflicts of interest.
- The organization is required to file Schedule B.
- The organization is required to file Schedule O.
- The organization pays $149,932 in salary, compensation, and benefits to its employees.
- The organization pays $0 in fundraising expenses.
- The organization provides Form 990 to its governing body.
- The organization has minutes of its meetings.
- The organization has a written whistleblower policy.
- The organization's financial statements were reviewed by an accountant.
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