2024-11-15T11:51:36-05:00 2023-12-31 Common Good Bookkeeping Cooperative 1202 Williamson St Suite 100 Madison WI 53703 990 2023-01-01 391680095 Madison Area CLT Corporation MADI 902 Royster Oaks Dr STE 105 Madison WI 53714 Olivia Williams Executive Direc 2024-11-14 false true Andrew Browne P03031253 5125650277 2024-11-15 2023 2024-10-15 13:58:12Z Madison Area Community Land Tr Karen von Huene 1272410 false X www.maclt.org X 1990 WI MACLT liberates land for the benefit of historically marginalized populations at the lowest incomes possible, preserving urban space for community use, and creating deeply and permanently affordable homeownership opportunities for those typically exploited by the housing market. 9 9 3 9 0 0 470619 986336 54009 198874 0 87200 524628 1272410 133966 659045 0 107814 177854 7575 16048 111067 174442 352847 1018916 171781 253494 3141783 2889094 3146917 2640734 -5134 248360 MACLT liberates land for the benefit of historically marginalized populations at the lowest incomes possible, preserving urban space for community use, and creating deeply and permanently affordable homeownership opportunities for those typically exploited by the housing market. false false 935336 659045 131394 MADISON AREA COMMUNITY LAND TRUST PROVIDES ONGOING STEWARDSHIP OF 62 HOMES AND THE LAND UNDERNEATH THEM THAT ARE KEPT PERMANENTLY AFFORDABLE UNDER THE TERMS OF A GROUND LEASE AND/OR DECLARATION OF RESTRICTIVE COVENANTS WITH THE LAND TRUST. MACLT ALSO STEWARDS THE LAND UNDER 10 MARKET-RATE HOMES AS WELL AS CONSERVATION AND AGRICULTURAL LAND. AND MACLT HAS A MAINTENANCE SERVICES PROGRAM THAT INVOLVES OBTAINING GRANT FUNDING AND COORDINATING MAINTENANCE SERVICES TO THE LOW-INCOME HOMEOWNERS IN OUR HOMEOWNERSHIP PROGRAM. 935336 true true false false false false false false false false true false false false true false false true false false false false false false false false false true true false false false false false false false false false false false false false false false false false false true X 23 0 true 3 true false false false false false false true 1 false false false false false false false X 9 9 false false false false true true true true true false false true true true true true true true false false WI X Olivia Williams 6082852691 902 Royster Oaks Dr Madison WI 53714 Olivia Williams Executive Director 40.00 0.00 X X 75479 0 4993 Andy Heidt Director 0.50 0.00 X 0 0 0 DaMontae January Director 0.50 0.00 X 0 0 0 Evan Bonsall Director 0.50 0.00 X 0 0 0 Grace Coleman Director 0.50 0.00 X 0 0 0 Eva Wingren Director 0.50 0.00 X 0 0 0 Shaya Schreiber Treasurer 1.00 0.00 X X 0 0 0 Karen von Huene President 1.50 0.00 X X 0 0 0 Robert Paolino Secretary 1.00 0.00 X X 0 0 0 Beth Welch Vice President 1.50 0.00 X X 0 0 0 75479 0 4993 0 false false false 691004 295332 986336 Rental income 531190 50817 50817 Gain on sale of house 531190 80577 80577 Developer fees 531190 13657 13657 Forgiven loans 531190 53823 53823 198874 Easement compensation 900099 87200 87200 87200 1272410 286074 0 0 X 511421 511421 147624 147624 157148 131376 19330 6442 8834 7385 1087 362 11872 9925 1460 487 14037 6089 7765 183 13684 13684 7575 7575 18260 7485 10775 8879 7978 901 7646 6040 1555 51 7063 5580 1436 47 1009 1009 1378 1378 12406 12406 9012 1435 7577 Rehabilitation work 63077 63077 Closing cost 9656 9656 Property taxes 3931 3931 Utilities for held property 2522 2522 1882 1406 476 1018916 935336 67532 16048 253305 381665 87029 1899 6775 4303 5507 2369299 2854526 2369299 27750 28750 10069 3141783 2889094 10276 33439 539723 2596918 2607295 3146917 2640734 X -5134 118066 130294 -5134 248360 3141783 2889094 253494 0 X false true X false false X 5076 10646 69606 470619 986336 1542283 5076 10646 69606 470619 986336 1542283 346535 1195748 1542283 0.77530 0.89680 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2369299 2369299 2369299 Deferred notes receivable 27750 C Purchase option 1000 C 28750 Operating lease asset 10069 10069 Deferred loans 2596919 Operating lease liability 10376 2607295 1272410 1272410 1272410 1018916 1018916 1018916 true Troy Gardens Condominium Assn 544 TROY DRIVE Madison WI 53704 651277293 293000 Cost replace roof & gutters for CLT condo Maintain quality of housing Anniversary Court Condominium Owner 6 ANNIVERSARY CT Madison WI 53704 218421 Cost replace siding for CLT condo Maintain quality of housing 2 Minor Home Repair & Maintenance 26 147624 Cost maintenance & repair services Monitoring procedures (Part I, line 2) Members of MACLT apply for funding through an application form, where they self-attest they are below 80% AMI. Grants are allocated based on need according to an equity-based point system. Grants were provided through the City of Madison (CDBG)which MACLT ensures requirements are being met. Condo associations attest that over 50% of residents were below 80% AMI. Additional Information for Schedule I Noncash assistance consisted of MACLT paying contractors to provide maintenance & repair services to income-qualified households Members or stockholder classes and rights Part VI line 6 THE CORPORATION HAS THREE CLASSES OF MEMBERSHIP: RESIDENT MEMBERS, GENERAL MEMBERS, AND ORGANIZATIONAL MEMBERS. RESIDENT MEMBERS ARE ALL PERSONS WHO HAVE ENTERED INTO A GROUND LEASE WITH THE CORPORATION. GENERAL MEMBERS ARE THOSE NATURAL PERSONS OTHER THAN RESIDENT MEMBERS WHO ARE 18 YEARS OF AGE OR OLDER, HAVE SUBMITTED AN INITIAL MEMBERSHIP APPLICATION, AND HAVE PAID DUES. ORGANIZATIONAL MEMBERS ARE ORGANIZATIONS THAT HAVE SUBMITTED AN INITIAL MEMBERSHIP APPLICATION AND HAVE PAID DUES. ORGANIZATIONAL MEMBERS ARE NON-VOTING MEMBERS OF THE CORPORATION. Member election for additional members Part VI line 7a RESIDENT AND NON-RESIDENT DIRECTORS OF THE GOVERNING BODY ARE ELECTED BY THE VOTING MEMBERS OF THE CORPORATION AT AN ANNUAL MEETING. Governing body decisions Part VI line 7b RESIDENT MEMBERS AND GENERAL MEMBERS HAVE THE RIGHT TO APPROVE THE SALE OF REAL PROPERTY VALUED IN EXCESS OF 10% OF THE TOTAL VALUE OF REAL PROPERTYOWNED BY THE CORPORATION, ALTERATIONS OF THE RESALE FORMULA USED BY THE CORPORATION, AMENDMENTS TO THE CORPORATIONS ARTICLES OF INCORPORATION, AMENDMENTS TO THE CORPORATIONS BYLAWS RELATED TO MEMBERSHIP, AND THE DISSOLUTION OF THE CORPORATION. Form 990 governing body review Part VI line 11 THE PREPARED FORM 990 IS REVIEWED AND APPROVED BY THE MEMBERS OF THE GOVERNING BODY AND BY MANAGEMENT BEFORE THE RETURN IS FILED WITH THE IRS. THE CORPORATION SENDS A DRAFT OF THE RETURN TO ALL OF THE MEMBERS OF THE GOVERNING BODY WITH A REQUEST THAT THE MEMBERS REVIEW THE DRAFT AND RESPOND TO MANAGEMENT ACCEPTING THE DRAFT. Conflict of interest policy compliance Part VI line 12c ANNUALLY, ALL OFFICERS AND DIRECTORS SIGN A STATEMENT DISCLOSING POTENTIAL CONFLICTS OF INTEREST. THE SIGNED STATEMENTS ARE KEPT AT THE CORPORATIONS OFFICE. ANY CONFLICTS OF INTEREST THAT ARE IDENTIFIED ARE REVIEWED BY THE MEMBERS OF THE GOVERNING BODY AND ANY PERSON WITH A CONFLICT OF INTEREST IS PROHIBITED FROM PARTICIPATING IN THE GOVERNING BODYS DELIBERATIONS AND DECISIONS ON THE TRANSACTION. CEO executive director top management comp Part VI line 15a THE INDEPENDENT MEMBERSHIP OF THE BOARD OF DIRECTORS ANNUALLY CONDUCTS A PERFORMANCE REVIEW OF THE EXECUTIVE DIRECTOR. THE EXECUTIVE DIRECTORS COMPENSATION IS REVIEWED AND COMPARED TO PUBLIC INFORMATION ABOUT COMPENSATION IN POSITIONS AT SIMILAR ORGANIZATIONS. THE BOARD APPROVES COMPENSATION FOR THE EXECUTIVE DIRECTOR WITH AN OFFICIAL VOTE WITH DISCUSSION AND RESULTS RECORDED IN MEETING MINUTES. Governing documents etc available to public Part VI line 19 THE CORPORATION MAKES ITS ARTICLES OF INCORPORATION AND BYLAWS AND ITS AUDITED FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC ON ITS WEBSITE. THECORPORATIONS CONFLICT OF INTEREST POLICY IS AVAILABLE TO MEMBERS OF THEGOVERNING BODY ON A SECURE SERVER BUT IS NOT MADE AVAILABLE TOTHE PUBLIC. List of other expenses Part IX line 24e Program supplies - $300 (program)Repairs and maintenance - $1,106 (program)Governance expenses - $455 (M&G)Sales tax - $21 (M&G) Part V response or note to any other line in Part V 7d - 8282 filed in 2024