Somerville Community Land Trust

Analysis

Somerville Community Land Trust is a registered charity in United States, based in Somerville, MA. It received its IRS tax-exemption ruling in December 2019, 7 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Somerville Community Land Trust reported income of $57k and spending of $218k, spending 380% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $270k to $57k (-79%), an average of -79% a year. The sharpest change came in the year to December 2023, when income dropped by 79%. Over the whole period it spent 154% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Somerville Community Land Trust sits at the 13th percentile: it is larger than about 13% of them. Against every charity in United States with reported income it ranks in the 22nd percentile, and in the 31st percentile within MA. Charities of a similar size with the same main cause include Scottsdale Residence Inc ($57k), Passavant Memorial Homes V ($57k) and West Central II Inc ($57k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1965% and program service revenue 3.5% of the total. Compensation of current officers, directors and key employees was $91k (42% of expenses). At year end it held assets of $1.1m against liabilities of $1.2m, net assets of -$140k. It reported 1 employees.