Newburgh Community Land Bank Inc.
Newburgh Community Land Bank Inc.
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About this organization
Mission
Established for the purpose of stimulating planning, economic development, and neighborhood revitalization in the city of Newburgh, New York
About
As of September 2018, NCLB acquired 102 properties, and sold 61 properties. Through those properties that have sold, 126 total housing units were generated or are in process with 28 market rate units, 19 middle income, 27 low income, 24 very low income, and 7 extremely low income. 21 units are homeowner occupied. $5 million in assessed value has returned to the tax rolls of the municipality. Most of the properties (56 of 102 acquired) are in a five block focus area and include: 8 single family homes in partnership with Habitat for Humanity, 45 affordable, high quality rental units across 16 parcels, the preservation of 20 historic structures, and several mixed use/commercial projects. As a result of our work, vacancy has reduced by 33% in the focus area and assessed values have increased by nearly $3 million from 2015 lows in addition to a steady rise in sales and sales prices since 2015.
Interesting data from their 2019 990 filing
The non-profit's mission is outlined in the filing as being “Established for the purpose of stimulating planning, economic development, and neighborhood revitalization in the city of newburgh, new york.”.
When outlining its responsibilities, they were referred to as: “Established for the purpose of stimulating planning, economic development, and neighborood revitalization in the city of newburgh, new york”.
- The state in which the non-profit operates has been officially reported as NY.
- As per the non-profit's form for 2019, they have 6 employees on their payroll.
- Is not a private foundation.
- Expenses are greater than $1,000,000.
- Revenue is between $500,000 and $1,000,000+.
- Revenue less expenses is -$109,232.
- The organization has 9 independent voting members.
- The organization was formed in 2012.
- The organization pays $275,646 in salary, compensation, and benefits to its employees.
- The organization pays $0 in fundraising expenses.
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