Cape Fear Community Land Trust Inc
Nonprofit profile at a glance
- EIN
- 306172153
- IRS 990 coverage
- 2019–2024
- Forms available
- Form 990 2024, Form 990-EZ 2020
- Location
- Wilmington, NC, USA
- Phone
- 9102180022
- Rating
- 68
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Housing Development, Construction, Management
Reported finances
- Revenue
- $480,433
- Expenses
- $161,313
- Assets
- $752,127
- Liabilities
- $40,186
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
10 people listed
Executive titles in this filing
- Stephen C Whitney (President/Future Treasurer)
- Kathy King (Vice President)
- Paul Stavovy (Executive Director - Not B)
Highest reported compensation
- Paul Stavovy (Executive Director - Not B): $90,026 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Cape Fear Community Land Trust (CFCLT) exists to sustain vibrant, diverse communities by creating housing opportunities for working families. Our vision is a region filled with vibrant, holistic, and economically diverse communities with no barriers to quality, affordable housing, so that all citizens have a choice of where to live, work, and play.
What it reported doing in 2024
The Cape Fear Community Land Trust exists to sustain vibrant and economically diverse communities in the Cape Fear region through land stewardship and seeks to provide permanently affordable housing, business opportunities, and community amenities. It aims to impact affordability on a permanent basis by building and renovating homes and businesses in the Community Land Trust (CLT) model where ownership, or tenancy, is conveyed to qualifying individuals or businesses using a 99-year, renewable, inheritable ground lease which intentionally limits appreciation.By offering homes or businesses to qualified low- and moderate-income families yet retaining ownership of the land under these individual properties the Land Trust removes the land cost component from the sales price equation. By holding the land "in trust," the Land Trust aims to lock in affordability for future generations
Operating model
- Revenue model
- Donor-supported. 84% of the money available for current operations came from contributions and gifts.
- 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
SUPPORTED - 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 some filing-based governance responses are negative or unanswered.
Rating breakdown
- Financial Efficiency: 43
- Transparency & Controls: 92
- Accountability: 84
- Sustainability: 72
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 23.1%; rating input score 23
- Program expense ratio: 68.4%; rating input score 68
- Fundraising efficiency: $34.53 raised per $1 spent on fundraising; rating input score 70; 70th 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: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 5 of 8 controls in place; rating input score 62
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: Pass
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Fail
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 66.4%; rating input score 95; 95th percentile among comparable filings
- Total-asset coverage ratio: 4.66; rating input score 78; 78th percentile among comparable filings
- Liabilities to assets ratio: 0.05; rating input score 32; 32nd percentile among comparable filings
- Officer compensation ratio: 55.8%; rating input score 3; 3rd percentile among comparable filings
Growth
- Program expense growth: -22.2% per year; rating input score 0; 5th percentile among comparable filings
- Revenue growth: 11.3% per year; rating input score 100; 75th percentile among comparable filings
- Asset growth: 9.7% per year; rating input score 100; 65th percentile among comparable filings
Details
- Where the money goes: 23.1% of revenue deployed · 68.4% of spending went to programs
- Governance: 9 of 9 board members independent · 5 of 8 filing controls reported
- Programs: 1 filed program accomplishment · $110K in reported program spending
- Leadership: top reported pay $90K · 10 people listed
- Consistency: 23 of 23 current checks pass
- Schedules: 4 filed schedules · includes major donors
- Filing history: 5 filing years from 2019 to 2024
- Contacts: How to reach this organization
- Money network: 2 filed money-flow records
- 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 23/100.
- Review — Accountability: Governance controls: 3 of 8 not reported.
- High — Growth: Program expense growth scored 0/100.
- High — Sustainability: Officer compensation ratio scored 3/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 32/100.