Nonprofit · EIN 85-0671360
ELEVATION COMMUNITY LAND TRUST
Tax-exempt · DENVER, CO 80204
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $15,442,615 | $8,138,123 | $7,304,492 | $101,986,913 | $59,867,361 | $42,119,552 |
| December 31, 2023 | 990 | $13,796,051 | $6,889,319 | $6,906,732 | $82,848,781 | $48,033,721 | $34,815,060 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $16,235,348
- of which government grants
- $13,302,954
- Program service revenue
- $2,863,128
- Investment income
- -$3,655,861
- Net gain from sales of assets
- -$3,833,417
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $815,500
- Compensation of officers, directors and key employees
- $651,724
- Other salaries and wages
- $1,005,513
- Salaries, compensation and benefits (total)
- $2,091,725
- Professional fundraising fees
- $0
- Legal fees
- $212,917
- Accounting fees
- $91,758
- Occupancy
- $757,535
- Travel
- $39,531
- Depreciation
- $664,973
- Program services (functional)
- $7,120,099
- Management and general (functional)
- $769,917
- Fundraising (functional)
- $248,107
Balance sheet and other
- Total assets, start of year
- $82,848,781
- Total assets, end of year
- $101,986,913
- Total liabilities, end of year
- $59,867,361
- Net assets, end of year
- $42,119,552
- Land, buildings and equipment
- $90,713,264
- Net assets without donor restrictions
- $39,441,808
- Net assets with donor restrictions
- $2,677,744
- Gross receipts
- $37,702,278
- Employees
- 17
- Volunteers
- 12
- Year formed
- 2020
- State of legal domicile
- CO
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| STEFKA FANCHI | PRESIDENT AND CEO Officer | 45 | $214,354 | $57,458 |
| ROBIN HICKEY | CHIEF FINANCIAL OFFICER Officer | 45 | $173,955 | $41,086 |
| DAVID OGUNSANYA | VP OF REAL ESTATE Highest-paid employee | 45 | $125,120 | $46,116 |
| TIANA PATTERSON | VP SOCIAL IMPACT & WEALTH EQUITY Highest-paid employee | 40 | $123,478 | $38,108 |
| JUDITH GOMEZ | CONTROLLER DIRECTOR OF ACCOUNTING Highest-paid employee | 40 | $103,969 | $35,102 |
| SHANNON MCGINTY | REAL ESTATE PROJECT MANAGER Highest-paid employee | 40 | $101,950 | $22,417 |
| YVONNE DUVALL TERM START 624 | CHIEF PROGRAM OFFICER Officer | 45 | $78,592 | $15,232 |
| LAUREN DEBELL TERM END 524 | CHIEF STRATEGY OFFICER Officer | 45 | $60,634 | $10,413 |
| JOSE ESPARZA | SECRETARY Trustee or director, Officer | 0.5 | $0 | $0 |
| KAREN FOX ELWELL | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| ANNE GARCIA | VICE CHAIR & TREASURER Trustee or director, Officer | 0.5 | $0 | $0 |
| SHANNON GIFFORD | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| TOM GOUGEON | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| SUSAN POWERS | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| DAVE YOUNGGREN | CHAIR Trustee or director, Officer | 0.5 | $0 | $0 |
5 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| KELLY EVANS | DIRECTOR Trustee or director | 0.5 | $0 |
| ALEJANDRA CHAVEZ | DIRECTOR Trustee or director | 0.5 | $0 |
| CARMEN MAYTA | DIRECTOR Trustee or director | 0.5 | $0 |
| JEANNIE NEWELL | DIRECTOR Trustee or director | 0.5 | $0 |
| RODNEY MILTON | DIRECTOR Trustee or director | 0.5 | $0 |
990 for the year ended December 31, 2023: 18 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| STEFKA FANCHI | PRESIDENT AND CEO Officer | 45 | $207,680 | $50,717 |
| ROBIN HICKEY | CHIEF FINANCIAL OFFICER Officer | 45 | $170,201 | $37,376 |
| LAUREN DEBELL | CHIEF STRATEGY OFFICER Officer | 45 | $144,007 | $23,473 |
| DAVID OGUNSANYA | VICE PRESIDENT OF REAL EST Highest-paid employee | 45 | $124,548 | $40,120 |
| TIANA PATTERSON | VP SOCIAL IMPACT & WEALTH Highest-paid employee | 40 | $122,662 | $33,701 |
| JUDITH GOMEZ | CONTROLLER DIRECTOR OF ACCOUNTING Highest-paid employee | 40 | $102,204 | $31,837 |
| SHANNON MCGINTY | REAL ESTATE PROJECT MANAGER Highest-paid employee | 40 | $100,817 | $20,955 |
| JOSE ESPARZA | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| KAREN FOX ELWELL | SECRETARY Trustee or director, Officer | 0.5 | $0 | $0 |
| ANNE GARCIA | VICE CHAIR & TREASURER Trustee or director, Officer | 0.5 | $0 | $0 |
| SHANNON GIFFORD | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| TOM GOUGEON | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| SUSAN POWERS | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| DAVE YOUNGGREN | CHAIR Trustee or director, Officer | 0.5 | $0 | $0 |
| KELLY EVANS | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| ALEJANDRA CHAVEZ | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| CARMEN MAYTA | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| JEANNIE NEWELL | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 1114 W 7TH AVE SUITE 101, DENVER, CO 80204-4439
- In care of
- % ATTN TIANA PATTERSON
- Principal officer (990 for 2024)
- STEFKA FANCHI, 1114 W 7TH AVE SUITE 101, DENVER, CO 80204
- Signed the 990
- ROBIN HICKEY, CFO
- Phone
- (720) 822-0052
- Website
- WWW.ELEVATIONCLT.ORG
- Return prepared by
- PLANTE & MORAN PLLC
Mission
ELEVATION COMMUNITY LAND TRUST PARTNERS WITH COMMUNITIES TO CREATE EQUITABLE OPPORTUNITIES FOR FAMILIES THROUGH PERMANENTLY AFFORDABLE HOMEOWNERSHIP.
Program accomplishments
- ECLT PROVIDES AFFORDABLE HOMEOWNERSHIP OPPORTUNITIES TO ELIGIBLE LOW-TO-MODERATE INCOME COLORADO FAMILIES USING THE COMMUNITY LAND TRUST MODEL, THROUGH WHICH THE IMPROVEMENTS ON A PROPERTY ARE SOLD TO A QUALIFIED HOUSEHOLD AND THE LAND IS HELD IN TRUST AS A COMMUNITY ASSET. ECLT ACQUIRES HOMES, COMPLETES REHABILITATION IF NEEDED, AND SELLS THE HOMES TO LOW-TO-MODERATE INCOME HOUSEHOLDS. SUCH HOMES ARE GENERALLY SOLD AT A LOSS, SINCE THE COST TO ACQUIRE AND AND REHABILITATE A PROPERTY USUALLY EXCEEDS THE AFFORDABLE SALES PRICE TO A QUALIFIED HOMEBUYER. THIS LOSS ($3,833,417 IN 2024 SHOWN ON PART VIII, LINE 7) REPRESENTS ECLT'S SUBSIDY INVESTMENT TO ENSURE THAT THE HOMES IN ITS PORTFOLIO REMAIN PERMANENTLY AFFORDABLE FOR GENERATIONS TO COME. IN 2024, ECLT SOLD 75 HOMES TO QUALIFIED BUYERS.Expenses $7,120,099 · grants $815,500 · revenue $21,289,374
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 85-0671360
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2021
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Housing and shelter (L21)
- Assets (IRS master file)
- $101,986,913
- Income (IRS master file)
- $37,702,278
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $15,442,615 | $8,138,123 | $101,986,913 | XML |
| 990 | December 2023 | $13,796,051 | $6,889,319 | $82,848,781 | XML |
| 990 | December 2022 | $12,223,973 | $5,922,826 | $67,907,518 | IRS |
| 990 | December 2021 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 85-0671360).
Questions about ELEVATION COMMUNITY LAND TRUST
- What is the EIN of ELEVATION COMMUNITY LAND TRUST?
- The employer identification number (EIN) of ELEVATION COMMUNITY LAND TRUST is 85-0671360.
- Is ELEVATION COMMUNITY LAND TRUST tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2021.
- Are donations to ELEVATION COMMUNITY LAND TRUST tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does ELEVATION COMMUNITY LAND TRUST file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of ELEVATION COMMUNITY LAND TRUST due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did ELEVATION COMMUNITY LAND TRUST last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of ELEVATION COMMUNITY LAND TRUST?
- The 990 for the year ended December 31, 2024 names STEFKA FANCHI.
- Who are the officers and directors of ELEVATION COMMUNITY LAND TRUST?
- The 990 for the year ended December 31, 2024 lists 20 people; 8 received compensation from the organization, the highest $214,354 (STEFKA FANCHI, PRESIDENT AND CEO).
- How much revenue does ELEVATION COMMUNITY LAND TRUST have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $15,442,615, expenses of $8,138,123 and total assets of $101,986,913 at year end.
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