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Irvine Community Land Trust

 930 Roosevelt Avenue, Suite 106
 Irvine, CA 92620
[P] (949) 565-3547
[F] --
www.irvineclt.org
[email protected]
Mark Asturias
FOUNDED: 2006
INCORPORATED: 2006
 Printable 1 Page Summary
 Printable Profile
Organization DBA Irvine Land Trust
ICLT
Former Names --
Organization received a competitive grant from the community foundation in the past five years No
Employer Identification Number 20-4773159 00000

Summary


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Mission StatementMORE »

Created to provide secure, high-quality permanently affordable housing for residents of the City of Irvine.

Mission Statement

Created to provide secure, high-quality permanently affordable housing for residents of the City of Irvine.


FinancialsMORE »

Fiscal Year 2019
Projected Expenses $801,932.00
Projected Revenue $2,884,500.00

ProgramsMORE »

  • Ownership Housing Program
  • Rental Housing New Construction

Revenue vs. Expense ($000s)

Expense Breakdown 2017 (%)

Expense Breakdown 2016 (%)

Expense Breakdown 2015 (%)

For more details regarding the organization's financial information, select the financial tab and review available comments.


Overview


Mission Statement

Created to provide secure, high-quality permanently affordable housing for residents of the City of Irvine.


Background Statement

Organization created in 2006 to assist City of Irvine to meet its affordable housing goals to create approximately 5,000 units of permanently affordable housing in the City of Irvine.

Impact Statement

We have created affordable rental housing, and are developing one affordable ownership project with Habitat for Humanity Orange County.
 
Current goals are: 
  • completion of construction of 80 affordable rental units. 
  • commence construction of 68 new affordable ownership units.
  • commence construction of a second 80 unit affordable rental project.
 

Needs Statement

Seeking grants for capital construction costs to build 80 units that will be affordable to families making 50 percent of the area median annual income. Also seeking grants and private donations for jointly developed project with Habitat for Humanity of Orange County to build 68 ownership units affordable to households making up to 120 percent of area median income.

CEO Statement

The Irvine Community Land Trust is the first non-profit in Orange County to create rental and ownership opportunities where homes will be built on leased land and will remain permanently affordable.  The Land Trust provides stewardship for all units it creates ensuring high-quality construction, design, sustainability, maintenance and permanent affordability.

Board Chair Statement

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Other Ways to Donate/Volunteer

Mail check to Irvine Community Land Trust.Donate real property (single family homes, condominium, townhome) in Irvine.Donate vacant land in Irvine.

Geographic Area Served

Central Orange County

Primarily serve the City of Irvine however we are able to serve the entire County.

Organization Categories

  1. Housing, Shelter - Housing Development, Construction & Management
  2. Public & Societal Benefit - Citizen Participation
  3. Public & Societal Benefit - Citizen Participation

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Programs


Ownership Housing Program

Acquire existing homes, rehabilitate and sell at affordable housing costs with resale controls.

 
Construct new homes and sell at affordable housing costs with resale controls. 
Budget  150000 per home
Category  Housing, General/Other Housing Owners
Population Served Families Other Economic Level General/Unspecified
Program Short-Term Success 
We have acquired, rehabilitated and sold our first home ownership unit.  We are currently working with Habitat for Humanity of Orange County to develop a 68 unit townhome project affordable to households making up to 120 percent of area median income.
Program Long-Term Success 

This program will create an inventory or permanently affordable ownership housing in the community.

Program Success Monitored By 
Program includes annual monitoring of homes to ensure continuing occupancy by qualified home buyer
Examples of Program Success  --

Rental Housing New Construction

Develop affordable rental housing for all residents that is sustainable, accessible and permanently affordable. 
Budget  4,000,000
Category  Housing, General/Other Housing Development, Construction & Management
Population Served Families
Program Short-Term Success 
Have developed 104 unit and 80 unit rental housing projects and currently seeking financing for new 80 unit rental housing project.
Program Long-Term Success 
Create approximately 5,000 units of permanent affordable housing in City of Irvine by build out of the City of Irvine
Program Success Monitored By 
Program monitored by public funding agrencies that contribute a portion of funds needed to develop project.
Examples of Program Success  --

Management


CEO/Executive Director Mr. Mark Asturias
CEO Term Start Jan 2008
CEO Email [email protected]
CEO Experience

Mr. Asturias is the Executive Director of the Irvine Community Land Trust where he manages the day to day activities of the Land Trust.

Prior to his position with the Land Trust he worked in local government as a Housing Administrator. His local government experience spanned over 30 years in affordable rental and for-sale housing development and service programs covering all aspects of housing including entitlement, construction and operation. His last position was with the City of Irvine. As a city Housing Administrator, he managed local government housing projects and programs including affordable housing construction, long range housing planning, inclusionary housing programs and the Federal Community Development Block Grant and HOME Programs.

Former CEOs and Terms

Name Start End
Ms. Tina Christiansen Mar 2007 Jan 2008

Senior Staff

Name Title Experience/Biography
-- -- --

Awards

Award Awarding Organization Year
-- -- --

Affiliations

Affiliation Year
-- --

External Assessments and Accreditations

External Assessment or Accreditation Year
-- --

Collaborations

We collaborate with Habitat for Humanity and various affordable rental housing developers.

Staff Information

Number of Full Time Staff 2
Number of Part Time Staff 0
Number of Volunteers 0
Number of Contract Staff 7
Staff Retention Rate % 100%
Staff Professional Development Yes

Staff Demographics

Ethnicity African American/Black: --
Asian American/Pacific Islander: --
Caucasian: 6
Hispanic/Latino: 1
Native American/American Indian: --
Other: 7
Other (if specified): --
Gender Female: 3
Male: 4
Not Specified 7

Plans & Policies

Organization has Fundraising Plan? Under Development
Organization has Strategic Plan? Yes
Years Strategic Plan Considers 15
Management Succession Plan Under Development
Organization Policies And Procedures Yes
Business Continuity of Operations Plan No

Risk Management Provisions

Nondiscrimination Policy Yes
Whistle Blower Policy Yes
Document Destruction Policy Yes
Directors and Officers Insurance Policy Yes

Reporting and Evaluations

Management Reports to Board? Yes
CEO Formal Evaluation and Frequency Yes Annually
Senior Management Formal Evaluation and Frequency Yes Annually
Non Management Formal Evaluation and Frequency Yes Annually

Government Licenses

Housing/Development

CEO Comments

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Foundation Comments

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Governance


Board Chair Mrs. Melissa Fox
Board Chair Company Affiliation City of Irvine City Council Member
Board Chair Term Mar 2018 - Apr 2019
Board Co-Chair Mr. Leon Napper
Board Co-Chair Company Affiliation Westnap Realty
Board Co-Chair Term Mar 2018 - Apr 2019

Board Members

Name Company Affiliations Status
Ms. Nancy Donnelly New Vista School Voting
Ms. Melissa Fox City of Irvine Council Member Voting
Ms. Mary Ann Gaido Community Volunteer Voting
Mr. Leon Napper Private Business Owner Voting
Ms. Christina Shea Irvine City Council Member Voting
Mr. Bryan Starr CEO of Irvine Chamber of Commerce Voting
Mr. Patrick Strader Starpointe Ventures Voting

Constituent Board Members

Name Company Affiliations Status
-- -- --

Youth Board Members

Name Company Affiliations Status
-- -- --

Additional Board Members and Affiliations

Name Company Affiliations Status
-- -- --

Board Demographics

Ethnicity African American/Black: 1
Asian American/Pacific Islander: 0
Caucasian: 5
Hispanic/Latino: 0
Native American/American Indian: 0
Other: 0
Other (if specified): 1
Gender Female: 4
Male: 3
Not Specified 0

Board Information

Board Term Lengths 2
Board Term Limits --
Board Meeting Attendance % 90%
Written Board Selection Criteria Under Development
Written Conflict Of Interest Policy Yes
Percentage of Monetary Contributions 0%
Percentage of In-Kind Contributions 100%
Board Orientation Yes

CEO Comments

Our organization is working to secure state legislation that will make developing affordable home ownership feasible by providing property tax exemptions for our organization.  We currently qualify for property tax exemptions for our rental projects but affordable home ownership is taxed at full market rate even though our homes are price and resale restricted in perpetuity.  We are seeking advocacy grants to help us inform state legislators about this urgent need for property tax relief.

Foundation Comments

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Standing Committees

  • By-laws
  • Finance

Financials


Revenue vs. Expense ($000s)

Expense Breakdown 2017 (%)

Expense Breakdown 2016 (%)

Expense Breakdown 2015 (%)

Fiscal Year July 01, 2018 to June 30, 2019
Projected Revenue $2,884,500.00
Projected Expenses $801,932.00
Form 990s

2017 Form 990

2016 Form 990

2015 Form 990

2014 Form 990

2013 Form 990

2012 Form 990

Audit Documents

2016 Audited Financial Statement

2012 Audit Letter

IRS Letter of Exemption

IRS Letter of Determination

Prior Three Years Total Revenue and Expense Totals

Fiscal Year 2017 2016 2015
Total Revenue $3,044,877 $9,365,391 $366,830
Total Expenses $3,505,487 $389,736 $281,945

Prior Three Years Revenue Sources

Revenue By Revenue Source
Fiscal Year 2017 2016 2015
Foundation and
Corporation Contributions
-- $0 $0
Government Contributions $1,551,966 $7,655,948 $12,500
    Federal -- -- --
    State -- -- --
    Local -- -- --
    Unspecified $1,551,966 $7,655,948 $12,500
Individual Contributions -- -- --
Indirect Public Support -- $0 $0
Earned Revenue $120,223 $601,309 $91,539
Investment Income, Net of Losses $322,590 $166,057 $66,973
Membership Dues -- $0 $0
Special Events -- $0 $0
Revenue In-Kind -- $0 $0
Other $1,050,098 $942,077 $195,818

Prior Three Years Expense Allocations

Expense By Type
Fiscal Year 2017 2016 2015
Program Expense $412,845 $326,303 $219,697
Administration Expense $3,092,642 $63,433 $62,248
Fundraising Expense -- $0 $0
Payments to Affiliates -- $0 $0
Total Revenue/Total Expenses 0.87 24.03 1.30
Program Expense/Total Expenses 12% 84% 78%
Fundraising Expense/Contributed Revenue 0% 0% 0%

Prior Three Years Assets and Liabilities

Assets and Liabilities
Fiscal Year 2017 2016 2015
Total Assets $53,020,092 $32,839,795 $15,520,666
Current Assets $27,654,388 $9,961,576 $8,828,162
Long-Term Liabilities $9,012 $8,737 $19,141
Current Liabilities $47,521 $19,241 $15,363
Total Net Assets $52,963,559 $32,811,817 $15,486,162

Short Term Solvency

Fiscal Year 2017 2016 2015
Current Ratio: Current Assets/Current Liabilities 581.94 517.73 574.64

Long Term Solvency

Fiscal Year 2017 2016 2015
Long-term Liabilities/Total Assets 0% 0% 0%
Endowment Value --
Spending Policy Income Only
Percentage(If selected) --
Are you currently in a Capital Campaign? Yes
Capital Campaign Purpose Capital campaign to fund construction of 68 ownership homes and 80 rental homes.
Campaign Goal $10,000,000.00
Capital Campaign Dates Apr 2018 - Dec 2019
Capital Campaign Raised-to-Date Amount --
Capital Campaign Anticipated in Next 5 Years? No

CEO Comments

The cost to develop affordable housing has increased significantly as land and construction costs are seeing double digit inflation.  Although we have funding for possibly one project we find that continuing cost increases make it difficult to determine if sufficient funds will be available when needed.  This is why we are seeking financial commitments to hedge against the inflationary pressure being felt in construction.

Foundation Comments

Summary financial data is per the Form 990s and consultation with the organization. Foundation/corporate and individual contributions are combined under Foundation and Corporation Contributions.

Documents


Other Documents

No Other Documents currently available.