Kulshan Community Land Trust

Nonprofit profile at a glance

EIN
911995485
IRS 990 coverage
2016–2024
Forms available
Form 990 2024
Location
Bellingham, WA, USA
Phone
3606715600
Rating
67
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$701,074
Expenses
$542,265
Assets
$10,290,566
Liabilities
$3,675,665

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

Leadership & pay

12 people listed

Executive titles in this filing

  • EAMONN COLLINS (VICE PRESIDENT)
  • SARA YOUNG (PRESIDENT)
  • ROSE LATHROP (EXECUTIVE DIRECTOR)

People named in this filing

  • JOSH PARRISH (TRUSTEE)
  • PAUL D'AGNOLO (TRUSTEE)
  • CATHALINA BARRIL (TRUSTEE)

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

Kulshan community land trust builds new affordable housing, rehabilitates existing housing and holds land in trust to create permanently affordable housing and provides educational and financial services to people of modest means.

What it reported doing in 2024

The organization assists qualified families with the purchase of houses and condominiums in the state of Washington.

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

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 a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 31
  • Transparency & Controls: 92
  • Accountability: 100
  • Sustainability: 77
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 29.9%; rating input score 30
  • Program expense ratio: 39.6%; rating input score 40
  • Fundraising efficiency: $3.54 raised per $1 spent on fundraising; rating input score 11; 11th 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: 7 of 7 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 22.7%; rating input score 79; 79th percentile among comparable filings
  • Total-asset coverage ratio: 18.98; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 0.36; rating input score 21; 21st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: -0.2% per year; rating input score 0; 17th percentile among comparable filings
  • Revenue growth: 16.8% per year; rating input score 100; 81st percentile among comparable filings
  • Asset growth: 7.4% per year; rating input score 100; 49th percentile among comparable filings

Details

  • Where the money goes: 29.9% of revenue deployed · 39.6% of spending went to programs
  • Governance: 11 of 11 board members independent · 7 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $215K in reported program spending
  • Leadership: top reported pay $0 · 12 people listed
  • Consistency: 28 of 28 current checks pass
  • Schedules: 7 filed schedules · includes major donors
  • Filing history: 8 filing years from 2016 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: 2 filed related-organization links
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 30/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 40/100.
  • High — Financial Efficiency: Fundraising efficiency scored 11/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 21/100.