Hartford Land Bank Inc
Nonprofit profile at a glance
- EIN
- 823965276
- IRS 990 coverage
- 2018–2024
- Forms available
- Form 990 2024
- Location
- Hartford, CT, USA
- Phone
- 8603350347
- Rating
- 86
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Environmental Education and Outdoor Survival Programs
Reported finances
- Revenue
- $556,507
- Expenses
- $642,372
- Assets
- $3,556,266
- Liabilities
- $2,650,227
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
8 people listed
Executive titles in this filing
- MARCUS ORDONEZ (EXECUTIVE DIRECTOR)
Highest reported compensation
- MARCUS ORDONEZ (EXECUTIVE DIRECTOR): $125,499 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The mission of the hlb is to identify, acquire, and redevelop - directly or through partnership with government, nonprofit, and private sector partners, vacant, abandoned, tax-delinquent and/or distressed properties in the city of hartford, where such redevelopment will: improve community and economic vitality of hartford neighborhoods, ensure long-term sustainability of impacted properties and enhance the quality of life for residents and businesses. Hlb coordinates its activities with other community, regional and neighborhood partners that pursue objectives and goals complementary to that of hlb. The city of hartford is a key partner and the hlb ed will be the primary liaison to the city of hartford.
What it reported doing in 2024
Blight remediation: the purpose of the program is to acquire, maintain, manage, rehabilitate, developer, lease, and/or sell vacant, abandoned, donated, and/or tax-delinquent properties in the city of hartford that are blighted. In fiscal year 2025, renovations of 1 former hlb property was completed by developers, which includes 6 units of housing. Construction on 3 former hlb properties also started in fiscal year 2025, which will equate to 5 units of housing when completed.
Operating model
- Revenue model
- Mixed. Its operating money came from several sources; no one source provided a clear majority.
- 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
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and fundraising costs are high for each dollar raised.
Rating breakdown
- Financial Efficiency: 87
- Transparency & Controls: 92
- Accountability: 84
- Sustainability: 34
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 96.8%; rating input score 97
- Program expense ratio: 82.9%; rating input score 83
- Fundraising efficiency: $14.37 raised per $1 spent on fundraising; rating input score 49; 49th percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd 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: Fail
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -15.4%; rating input score 12; 12th percentile among comparable filings
- Total-asset coverage ratio: 5.54; rating input score 86; 86th percentile among comparable filings
- Liabilities to assets ratio: 0.75; rating input score 10; 10th percentile among comparable filings
- Officer compensation ratio: 19.5%; rating input score 15; 15th percentile among comparable filings
Growth
- Program expense growth: 32.7% per year; rating input score 100; 91st percentile among comparable filings
- Revenue growth: 18.2% per year; rating input score 100; 83rd percentile among comparable filings
- Asset growth: 17.8% per year; rating input score 100; 78th percentile among comparable filings
Details
- Where the money goes: 96.8% of revenue deployed · 82.9% of spending went to programs
- Governance: 7 of 7 board members independent · 5 of 8 filing controls reported
- Programs: 1 filed program accomplishment · $532K in reported program spending
- Leadership: top reported pay $125K · 8 people listed
- Consistency: 27 of 27 current checks pass
- Schedules: 4 filed schedules · includes major donors
- Filing history: 7 filing years from 2018 to 2024
- Contacts: How to reach this organization
- Money network: 1 filed money-flow record
- Related organizations: Filed and resolved organization relationships.
- 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.
- Review — Accountability: Governance controls: 3 of 8 not reported.
- Moderate — Financial Efficiency: Fundraising efficiency scored 49/100.
- High — Sustainability: Operating margin scored 12/100.
- High — Sustainability: Liabilities to assets ratio scored 10/100.
- High — Sustainability: Officer compensation ratio scored 15/100.