Nonprofit · EIN 82-4363742
CLT INTERBORO CLT HOUSING DEVELOPMENT FUND CORPORATION
Also known as INTERBORO COMMUNITY LAND TRUST
Tax-exempt · NEW YORK, NY 10004
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $193,960 | $175,393 | $18,567 | $1,340,476 | $29,825 | $1,310,651 |
| December 31, 2023 | 990 | $161,810 | $244,409 | -$82,599 | $1,372,609 | $80,525 | $1,292,084 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $193,000
- Program service revenue
- $0
- Investment income
- $0
- Other revenue
- $960
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Legal fees
- $10,786
- Accounting fees
- $40,780
- Program services (functional)
- $134,613
- Management and general (functional)
- $40,780
Balance sheet and other
- Total assets, start of year
- $1,372,609
- Total assets, end of year
- $1,340,476
- Total liabilities, end of year
- $29,825
- Net assets, end of year
- $1,310,651
- Land, buildings and equipment
- $226,000
- Net assets without donor restrictions
- $230,041
- Net assets with donor restrictions
- $1,080,610
- Gross receipts
- $193,960
- Employees
- 0
- Volunteers
- 4
- Year formed
- 2018
- State of legal domicile
- NY
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 |
|---|---|---|---|
| Christie Peale | Board Chair Trustee or director, Officer | 3 | $0 |
| Matthew Dunbar | Vice Chair Trustee or director, Officer | 1 | $0 |
| Margy Brown | Treasurer Trustee or director, Officer | 1 | $0 |
| Ismene Speliotis | Secretary Trustee or director, Officer | 2 | $0 |
990 for the year ended December 31, 2023: 4 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Christie Peale | Board Chair Trustee or director, Officer | 3 | $0 |
| Matthew Dunbar | Vice Chair Trustee or director, Officer | 1 | $0 |
| Margy Brown | Treasurer Trustee or director, Officer | 1 | $0 |
| Ismene Speliotis | Secretary Trustee or director, Officer | 2 | $0 |
Address and contacts
- Address (IRS master file)
- 60 BROAD ST FL 24, NEW YORK, NY 10004-2342
- In care of
- % CHRISTIE PEALE
- Principal officer (990 for 2024)
- Christie Peale, 60 Broad St 24 FL Bond Collective 2, New York, NY 10004
- Signed the 990
- Christie Peale, Board Chair
- Phone
- (646) 237-5920
- Return prepared by
- WatsonRice LLP
Mission
Interboro CLT offers a new model for affordable homeownership in NYC. Interboro is the first, and only, citywide community land trust (CLT) in New York City. Our mission is to create and preserve permanently affordable homeownership opportunities for lower-income New Yorkers. Our pipeline and our future community includes limited-equity co-ops and single-family homes located in low-moderate income census tracts, primarily in the boroughs of Brooklyn, Queens, and The Bronx. The homes in our pipeline and our community will benefit those who would otherwise not have the opportunity to become homeowners, creating a pathway to financial stability for families while preserving economic and racial diversity in spite of gentrification. Interboro CLT is a collaboration between the Center for NYC Neighborhoods, Habitat for Humanity New York City and Westchester County, the Mutual Housing Association of New York, and the Urban Homesteading Assistance Board.
Program accomplishments
- 2024 saw continued progress on the permanently-affordable homeownership projects in Interboros pipeline. In May, the groundbreaking for Habitats Mosaic project in the Bed-Stuy section of Brooklyn took place. This project will create 42 permanently-affordable co-op units that will go on the CLT. In December, finalization of a legal opinion letter by SONYMA, Habitat, and Interboro enabled the first sales and closings of Habitats Net Zero single-family homes (all 15 of which will go on the CLT) to proceed. In addition, Interboro made extensive preparations for the onboarding of new homebuyers to the CLT. Habitat and Interboro concluded a series of interactive information sessions and pre-purchase education webinars for Net Zero homebuyers. We updated our website to include document-hosting capabilities so that homeowners can access key CLT documents. We purchased and set up HomeKeeper, a web-based client management system to track our delivery of services to, and to collect the demographic data of, homeowners. We also held an open house at a newly-built Net Zero home for our founding partners former and current funders, and at the same home we hosted the site visit of a delegation from Change Capital Fund, Interboros primary funder. We completed Enterprises first-of-its-kind 12-month NYS CLT Training Series. We are equally proud of our work to support other CLTs. We responded to multiple requests for technical assistance from CLTs located in and beyond NYC, as well as from national organizations (e.g., Grounded Solutions Network, SAGE) that envision and support the shared-equity homeownership model as one of a number of possible solutions to the national housing affordability crisis and racial wealth gap. Across 2024, we are proud of how our trailblazing work continued supporting and advancing the cause of permanently-affordable homeownership and intergenerational wealth-building for lower-income households in NYC.Expenses $134,613
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
- 82-4363742
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2019
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Housing and shelter (L20)
- Assets (IRS master file)
- $1,340,476
- Income (IRS master file)
- $193,960
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $193,960 | $175,393 | $1,340,476 | IRS |
| 990 | December 2023 | $161,810 | $244,409 | $1,372,609 | XML |
| 990 | December 2022 | $311,735 | $311,658 | $1,382,252 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | 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 82-4363742).
Questions about CLT INTERBORO CLT HOUSING DEVELOPMENT FUND CORPORATION
- What is the EIN of CLT INTERBORO CLT HOUSING DEVELOPMENT FUND CORPORATION?
- The employer identification number (EIN) of CLT INTERBORO CLT HOUSING DEVELOPMENT FUND CORPORATION is 82-4363742.
- Is CLT INTERBORO CLT HOUSING DEVELOPMENT FUND CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2019.
- Are donations to CLT INTERBORO CLT HOUSING DEVELOPMENT FUND CORPORATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does CLT INTERBORO CLT HOUSING DEVELOPMENT FUND CORPORATION 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 CLT INTERBORO CLT HOUSING DEVELOPMENT FUND CORPORATION 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 CLT INTERBORO CLT HOUSING DEVELOPMENT FUND CORPORATION 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 CLT INTERBORO CLT HOUSING DEVELOPMENT FUND CORPORATION?
- The 990 for the year ended December 31, 2024 names Christie Peale.
- Who are the officers and directors of CLT INTERBORO CLT HOUSING DEVELOPMENT FUND CORPORATION?
- The 990 for the year ended December 31, 2024 lists 4 people; 0 received compensation from the organization.
- How much revenue does CLT INTERBORO CLT HOUSING DEVELOPMENT FUND CORPORATION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $193,960, expenses of $175,393 and total assets of $1,340,476 at year end.
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