Calvert Farmland Trust Inc

Nonprofit profile at a glance

EIN
521828261
IRS 990 coverage
2017–2024
Forms available
Form 990 2024
Location
Prince Frederick, MD, USA
Phone
4105350977
Rating
59
Verdict
MIXED
Rating confidence
Moderate
Sector
Farmland Preservation

Reported finances

Revenue
$372,392
Expenses
$5,898
Assets
$1,475,037
Liabilities
$119,291

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

  • V Wilson Freeland (President)
  • David Bourdon (Vice President)

People named in this filing

  • V Wilson Freeland (President)
  • David Bourdon (Vice President)
  • Peter G Baker (Treasurer)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The entity's mission is the "Protection of Farmland, in Perpetuity, for Agricultural Purposes". The method used to accomplish this mission includes the purchase and recording of restrictive covenants which permanently limit the use of the subject land to agricultural purposes. To assure compliance with recorded conservation covenants, this organization completes periodic easement monitoring surveys by means of onsite inspection or alternative remote/digital inspection means.

What it reported doing in 2024

Evaluation and protection of agricultural land for preservation in agricultural use, in perpetuity. Contact with general public, landowners, land trusts, State of Maryland, and local government conservation programs for the purpose of advisement and/or facilitation services in the preservation of farmland. The Organization, in conjunction with State and local programs, will purchase unrestricted farmland, record permanently restrictive covenants, and resell the farmland to a conservation buyer. Ongoing land preservation projects, resale of one farm, and retention or sale of Calvert County MD's "Transfer Development Rights".

Operating model

Revenue model
Earned-program. 92% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 20
  • Transparency & Controls: 90
  • Accountability: 82
  • Sustainability: 88
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0.8%; rating input score 1
  • Program expense ratio: 54.1%; rating input score 54
  • Fundraising efficiency: $1.97 raised per $1 spent on fundraising; rating input score 9; 9th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 98.4%; rating input score 100; 100th percentile among comparable filings
  • Total-asset coverage ratio: 250.09; rating input score 100; 100th percentile among comparable filings
  • Liabilities to assets ratio: 0.08; rating input score 28; 28th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -0.7% per year; rating input score 0; 28th percentile among comparable filings
  • Revenue growth: 55.8% per year; rating input score 100; 97th percentile among comparable filings
  • Asset growth: 3.2% per year; rating input score 100; 39th percentile among comparable filings

Details

  • Where the money goes: 0.8% of revenue deployed · 54.1% of spending went to programs
  • Governance: 6 of 6 board members independent · 4 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $3K in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 15 of 15 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 8 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Mission deployment rate scored 1/100.
  • Review — Financial Efficiency: Program expense ratio scored 54/100.
  • High — Financial Efficiency: Fundraising efficiency scored 9/100.
  • Review — Accountability: Governance controls: 2 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 28/100.