2024-10-31T08:23:51-05:00 2023-12-31 202000257 Fiore Fedeli Snyder Carothers LLP 2013 Sandy Dr Ste 200 State College PA 16803 990 2023-01-01 251801884 STATE COLLEGE COMMUNITY LAND TRUST INC STAT 8148670656 1315 S ALLEN STREET Suite 306 STATE COLLEGE PA 16801 COLLEEN RITTER EXECUTIVE DIRECTOR 8148670656 2024-10-22 1 0 JOSEPH P FEDELI CPA P00538622 8142378999 2024-10-22 2023 2024-10-15 13:58:12Z COLLEEN RITTER 1315 S ALLEN ST SUITE 306 STATE COLLEGE PA 16801 462215 0 X WWW.SCCLANDTRUST.ORG X 1996 PA TO INCREASE THE ABILITY OF LOW OR MODERATE INCOME FAMILIES TO SECURE AFFORDABLE HOUSING. 12 12 4 0 0 0 314068 429840 13310 19600 380 4695 2443 8080 330201 462215 185556 136240 0 0 105790 110629 0 0 49880 74137 60849 365483 307718 -35282 154497 1759793 2509857 294840 890407 1464953 1619450 THE STATE COLLEGE COMMUNITY LAND TRUSTS ("SCCLT") SUPPORTS VIBRANT NEIGHBORHOODS BY CREATING AND MAINTAINING SUSTAINABLE HOUSING OPPORTUNITITES FOR LOW OR MODERATE INCOME FAMILIES AND INDIVIDUALS WHO VALUE LIVING IN THE BOROUGH OF STATE COLLEGE. 0 0 191161 136240 27680 SCCLT STRIVES TO ATTRACT FAMILIES AND INDIVIDUALS TO RESIDE WITHIN THE BOROUGH OF STATE COLLEGE, CREATE AFFORDABLE HOUSING FOR GENERATIONS OF HOME OWNERS, HELP COMBAT COMMUNITY DETERIORATION IN RESIDENTIAL NEIGHBORHOODS BY PROMOTING THE DEVELOPMENT, REHABILITATION,AND MAINTENANCE OF QUALITY HOUSING, PROTECT THE NATURAL ENVIRONMENT AND PROMOTE THE ECOLOGICALLY SOUND USE OF LAND AND NATURAL RESOURCES, AS WELL AS THE LONG-TERM HEALTH AND WELL-BEING OF THE COMMUNITY, AND PROMOTE THE GENERAL SOCIAL WELFARE OF THE COMMUNITY BY BROADENING HOUSING OPPORTUNITIES FOR THOSE CURRENTLY PRICED OUT OF THE MARKET. 191161 1 1 0 0 0 0 0 0 0 0 1 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 8 0 1 4 1 0 0 0 0 0 0 0 0 0 0 X 12 12 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 0 0 0 0 0 PA X X COLLEEN RITTER 8148670656 1315 S ALLEN STREET SUITE 306 STATE COLLEGE PA 16801 PETER KEMPER PRESIDENT 5.00 X X 0 0 0 TSULTRIM DATSO VICE PRESIDENT 5.00 X X 0 0 0 JAY HUMMER TREASURER 5.00 X X 0 0 0 KATHY YEAPLE SECRETARY 5.00 X X 0 0 0 ABDULAI RASHID MEMBER 5.00 X 0 0 0 DEREK CANOVA MEMBER 5.00 X 0 0 0 JOE CARTAZZO MEMBER 5.00 X 0 0 0 EMILY ROSENMAN MEMBER 5.00 X 0 0 0 BEN WIDEMAN MEMBER 5.00 X 0 0 0 VICKI FONG MEMBER 5.00 X 0 0 0 COLIN WEBSTER MEMBER 5.00 X 0 0 0 MATT TOMS MEMBER 5.00 X 0 0 0 COLLEEN RITTER EXECUTIVE DIRECTOR 40.00 X 47600 0 7305 47600 0 7305 0 0 0 0 0 79807 114685 235348 429840 GROUND LEASE RENTALS 531190 13800 13800 HOUSE RENTALS 531190 5800 5800 19600 4695 4695 MISCELLANEOUS 900099 8080 8080 8080 462215 27680 0 4695 136240 136240 54905 13727 27452 13726 50269 16324 9503 24442 1362 1022 136 204 4093 1330 773 1990 933 933 19032 19032 13776 3963 4727 5086 6912 1989 2372 2551 3858 3858 328 94 113 121 2628 756 902 970 TRAINING 6414 6414 SUPPORT FOR HOME OWNERS 3323 3323 COPYING 2139 615 734 790 REAL ESTATE TAXES 1506 1506 307718 191161 66677 49880 265574 42044 147063 155443 3740 4560 369 369 6986 3542 572 3444 1342475 2303997 1759793 2509857 1703 3870 293137 752195 134342 294840 890407 X 0 0 0 0 1464953 1619450 1464953 1619450 1759793 2509857 154497 0 X X 0 1 X 1 0 X 462470 377554 824174 314068 429840 2408106 462470 377554 824174 314068 429840 2408106 2408106 1545 1773 178 380 4695 8571 860 1332 2443 5174 9809 2426486 0.99240 0.99630 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 6986 3542 3444 3444 INVESTMENT IN LAND, SUBJECT TO GROUND LEASES 300000 PROPERTY UNDER DEVELOPMENT 1984001 ASSETS HELD BY OTHERS 19996 2303997 X 462215 0 462215 0 462215 307718 0 307718 0 307718 Part X, Line 2: SCCLT ACCOUNTS FOR UNCERTAINTY INCOME TAXES USING A RECOGNITION THRESHOLD OF MORE LIKELY THAN NOT TO BE SUSTAINED UPON EXAMINATION BY THE APPROPRIATE TAXING AUTHORITY. MEASUREMENT OF TEH TAX UNCERTAINTY OCCURS IF THE RECOGNITION THRESHOLD IS MET. MANAGMENT DETERMINED THERE WERE NOT TAX UNCERTAINTIES THAT MET THE RECOGNITION THRESHOLD. 1 HOUSING PURCHASE ASSISTANCE 10 0 136240 SCCLT PURCHASES AND RENOVATES HOMES TO SELL TO LOW OR MODERATE INCOME INDIVIDUALS AND FAMILIES. THE HOMES ARE SOLD AT A REDUCED COSTS. Part I, Line 2: THE FIRST STEP IN BECOMING A STATE COLLEGE COMMUNITY LAND TRUST HOMEOWNER IS FOR THE INDIVIDUAL TO CONTACT THE ORGANIZATION. SCCLT WILL SCHEDULE AN ORIENTATION SESSION TO EXPLAIN THE PROGRAM AND TO GO OVER THE APPLICATION PROCESS. WHEN THE INDIVIDUAL COMES IN FOR AN ORIENTATION, THEY WILL RECEIVE AN APPLICATION TO COMPLETE SO SCCLT CAN CONFIRM THE INDIVIDUAL'S ELIGIBILITY FOR THIS PROGRAM. SCCLT HOMES ARE SOLD TO PEOPLE WITH QUALIFIED INCOMES WHO HAVE NOT OWNED A HOME FOR THE PAST THREE YEARS. HOMEOWNERS PURCHASE THE HOME, BUT LEASE THE LAND IN A LONG-TERM AGREEMENT FROM THE SCCLT. BY TAKING THE COST OF THE LAND OUT OF THE SALE, SCCLT HOMES ARE MORE AFFORDABLE THAN HOMES SOLD ON THE OPEN MARKET. WHEN A PERSON SELLS A SCCLT HOME, THEY SELL ONLY THE HOUSE TO ANOTHER FAMILY WITH A QUALIFIED INCOME FOR A PRICE DETERMINED BY A RESALE FORMULA. THUS, THE HOME STAYS AFFORDABLE FOR FUTURE BUYERS. VARIOUS BOARD AND FORMER BOARD MEMB A MINIMUM OF TWO LESSEES SERVE ON THE BOARD TO PROVIDE PROGRAMATIC SUPPORT HOUSING ASSISTANCE, GROUND LEASE PAID TO ORGANIZATION LOW/MOD HOUSING US HUD "HOME" PROGRAM AND LOCAL SUPPORT Form 990, Part VI, Section A, line 6 THE REGULAR MEMBERS OF THE SCCLT, WITH FULL VOTING RIGHTS, SHALL BE: (1) THE LESSEE MEMBERS - ALL PERSONS WHO LEASE LAND OR HOUSING FROM THE SCCLT AND ARE 18 YEARS OF AGE OR OVER. (2) THE GENERAL MEMBERS - ALL OTHER PERSONS, 18 YEARS OF AGE OR OLDER, WHO HAVE COMPLIED WITH THE FOLLOWING REQUIREMENTS: A. PAY ANNUAL MEMBERSHIP DUES AS ESTABLISHED BY THE BOARD FOR THE CURRENT CALENDAR YEAR AND SUPPORT THE GENERAL PRINCIPALS OF THE SCCLT. B. DUES SHALL BE WAIVED FOR GENERAL MEMBERS WHO ARE PARTICIPANTS IN OTHER HOME OWNERSHIP PROGRAMS ADMINISTERED BY THE STATE COLLEGE BOROUGH. (3) PUBLIC MEMBERS - THE THREE MEMBERS OF THE MUNICIPAL COUNCIL OF THE BOROUGH OF STATE COLLEGE, OR THEIR APPOINTEES, WHO ARE SERVING ON THE BOARD OF DIRECTORS OF THE SCCLT AS PUBLIC REPRESENTATIVES. PUBLIC MEMBERS ARE SUBJECT TO THE SAME REQUIREMENTS AS GENERAL MEMBERS LISTED IN (2) ABOVE AND IN (4) BELOW. (4) TO MAINTAIN REGULAR MEMBERSHIP A PERSON MUST EITHER BE A LESSESS MEMBER OR: A. SHOW A CONTINUING INTEREST IN THE SCCLT AND ITS PURPOSES; AND B. HAVE PAID DUES ESTABLISHED FOR THE CURRENT CALENDAR YEAR Form 990, Part VI, Section A, line 7a EVERY MEMBER HAS THE RIGHT TO PARTICIPATE IN THE ELECTION OF SIX MEMBERS OF THE BOARD OF DIRECTORS. Form 990, Part VI, Section A, line 7b ACTION TAKEN BY THE BOARD OF DIRECTORS ON ANY MOTION FOR THE SALE OF LAND, ALTERATION OF THE RESALE FORMULA, REMOVAL OF DIRECTORS, OR DISSOLUTION OF THE SCCLT SHALL NOT BECOME EFFECTIVE UNLESS APPROVED BY THE MAJORITY OF THE MEMBERS. Form 990, Part VI, Section B, line 11b THE 990 IS REVIEWED AND APPROVED BY THE FINANCE COMMITTEE BEFORE IT IS FILED WITH THE IRS. THE FULL BOARD ALSO RECEIVES A COPY. Form 990, Part VI, Section B, line 12c BOARD MEMBERS ARE REQUIRED TO COMPLETE A CONFLICT OF INTEREST STATEMENT ANNUALLY. THESE STATEMENTS ARE REVIEWED AND MAINTAINED BY THE EXECUTIVE DIRECTOR. THE CONFLICT OF INTEREST POLICY DOES MENTION FAMILY AND BUSINESS RELATIONSHIPS AS A SOURCE FOR POTENTIAL CONFLICTS. Form 990, Part VI, Section C, line 18 THE ORGANIZATION MAKES THESE DOCUMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. Form 990, Part VI, Section C, line 19 THE ORGANIZATION MAKES THESE DOCUMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. PART XII, ITEM 2C X NO CHANGE IN THE FINANCE COMMITT'S OVERSIGHT OF THE AUDIT AND FORM 990 PREPARATION PROCESS.