2023-11-15T16:33:41-05:00 2022-12-31 Common Good Bookkeeping Cooperative 1202 Williamson St Suite 100 Madison WI 53703 990 2022-01-01 391680095 Madison Area CLT Corporation MADI 902 Royster Oaks Dr STE 105 Madison WI 53714 Karen von Huene President 2023-11-14 false Karen von Huene Andrew Browne P03031253 5125650277 2023-11-15 0 00 AAL1 IAL1 2022 2023-04-26 12:10:37Z Karen von Huene 524628 false X 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 7 7 2 7 0 0 69606 470619 49214 54009 0 40 0 118860 524628 6925 133966 0 56131 107814 0 5029 36129 111067 99185 352847 19675 171781 2730424 3141783 2881685 3146917 -151261 -5134 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 false false 308664 133966 524628 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 THE LEASE WITH THE LAND TRUST, AND MACLT ALSO STEWARDS THE LAND UNDER 10 MARKET-RATE HOMES AS WELL AS CONSERVATION AND AGRICULTURAL LAND. IN 2022, MACLT ADDED A HOME TO OUR PROGRAM AND ALSO BEGAN A MAINTENANCE SERVICES PROGRAM THAT INVOLVES DISTRIBUTING FUNDS FOR MAINTENANCE TO THE LOW-INCOME HOMEOWNERS IN OUR HOMEOWNERSHIP PROGRAM 308664 true true false false false false false false false false true false false false true false false false false false false false false false false false false false true false false false false false false false false false false false false false false false false false false true 0 0 2 true false false false false false false false false X 7 7 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 2702 International Lane Madison WI 53704 X Olivia Williams Executive Director 30.00 0.00 X 49436 0 4617 Eva Wingren Director 0.50 0.00 X 0 0 0 Abha Thakkar Director 0.50 0.00 X 0 0 0 Andy Heidt 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 0.50 0.00 X X 0 0 0 Beth Welch Vice President 1.50 0.00 X X 0 0 0 49436 0 4617 0 false false false 362298 108321 470619 Rental income 531190 49514 49514 Gain on sale of 531190 4495 4495 54009 524628 54009 0 0 X 133966 133966 92028 76935 11320 3773 8748 7313 1076 359 7038 5883 866 289 966 966 17441 17441 2853 2853 1400 1258 142 3345 2643 680 22 7000 5852 861 287 1916 1759 157 2032 2032 11994 11994 5874 5874 Governance expenses 50 50 Sales taxes 20 20 Utilities held for property 2818 2818 53358 53358 352847 308664 39154 5029 95147 253305 1899 2480 4303 2854526 2596691 2854526 36106 27750 2730424 3141783 8223 10276 539723 2873462 2596918 2881685 3146917 X -151261 -5134 -151261 -5134 2730424 3141783 X 171781 -25654 X true X false false X 6482 5076 10646 69606 470619 562429 6482 5076 10646 69606 470619 562429 58029 504400 562429 0.89680 1.00000 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2369299 2369299 485227 485227 2854526 Deferred notes receivable 27750 C 27750 Deferred loans 2596918 2596918 true Minor Home Repair & Maintenance 37 400 132432 Book See Schedule O Emergency Assistance 1 400 1134 Book See Schedule O 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 funding from Dane County (ARPA) and the City of Madison (CDBG), each with their own requirements, which MACLT ensures are being met. Additional Information for Schedule I Part III Descriptions of noncash assistance:Minor Home Repair & Maintenance - Payment of contractors completing minor home repairEmergency Assistance - Assistance with mortgage payment for 3 months - paid to lender Members or stockholder classes and rights Part VI line 6 THE CORPORATION HAS THREE CLASSES OF MEMBERSHIP: RESIDENT MEMBERS, GENERALMEMBERS, AND ORGANIZATIONAL MEMBERS. RESIDENT MEMBERS ARE ALL PERSONS WHOHAVE ENTERED INTO A GROUND LEASE WITH THE CORPORATION. GENERAL MEMBERS ARETHOSE NATURAL PERSONS OTHER THAN RESIDENT MEMBERS WHO ARE 18 YEARS OF AGEOR OLDER, HAVE SUBMITTED AN INITIAL MEMBERSHIP APPLICATION, AND HAVE PAIDDUES. ORGANIZATIONAL MEMBERS ARE ORGANIZATIONS THAT HAVE SUBMITTED ANINITIAL MEMBERSHIP APPLICATION AND HAVE PAID DUES. ORGANIZATIONAL MEMBERSARE 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 BYTHE 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 OFREAL PROPERTY VALUED IN EXCESS OF 10% OF THE TOTAL VALUE OF REAL PROPERTYOWNED BY THE CORPORATION, ALTERATIONS OF THE RESALE FORMULA USED BY THECORPORATION, 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 THEGOVERNING 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 THEGOVERNING BODY WITH A REQUEST THAT THE MEMBERS REVIEW THE DRAFT AND RESPONDTO MANAGEMENT ACCEPTING THE DRAFT. Conflict of interest policy compliance Part VI line 12c ANNUALLY, ALL OFFICERS AND DIRECTORS SIGN A STATEMENT DISCLOSING POTENTIALCONFLICTS OF INTEREST. THE SIGNED STATEMENTS ARE KEPT AT THE CORPORATIONSOFFICE. ANY CONFLICTS OF INTEREST THAT ARE IDENTIFIED ARE REVIEWED BY THEMEMBERS OF THE GOVERNING BODY AND ANY PERSON WITH A CONFLICT OF INTEREST ISPROHIBITED FROM PARTICIPATING IN THE GOVERNING BODYS DELIBERATIONS ANDDECISIONS ON THE TRANSACTION. CEO executive director top management comp Part VI line 15a THE INDEPENDENT MEMBERSHIP OF THE BOARD OF DIRECTORS ANNUALLY CONDUCTS APERFORMANCE REVIEW OF THE EXECUTIVE DIRECTOR. THE EXECUTIVE DIRECTORSCOMPENSATION IS REVIEWED AND COMPARED TO PUBLIC INFORMATION ABOUTCOMPENSATION IN POSITIONS AT SIMILAR ORGANIZATIONS. THE BOARD APPROVESCOMPENSATION FOR THE EXECUTIVE DIRECTOR WITH AN OFFICIAL VOTE WITHDISCUSSION 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. Explanation of other changes in net assets or fund balances Part XI line 9 Accrual noted in PY reporting subsequent to e-file. List of other expenses Part IX line 24e Closing costs - $14,171Property taxes for held property - $4,599Loss on sale property - $29,126Rehabilitation work - $2725Loan fees - $2737 General explanation attachment Part I item 1 Continued (Organizational mission): by the housing market