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Island Housing Trust Corporation Organization Name provided in the GuideStar Exchange* as of 09/17/2014: Island Housing Trust Corporation

Organization Name as listed in the IRS Business Master File as of 10/17/2014: ISLAND HOUSING TRUST CORPORATION

* The GuideStar Exchange allows nonprofits to regularly update key information directly to GuideStar. It provides richer and broader information about their programs, impact, finances, people and more.

 
West Tisbury, MA
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GuideStar Summary

&1002; GuideStar Exchange Committed to transparency ?
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&1002; Registered with IRS Legitimacy information is available
&1002; Financial Data Annual Revenue and Expense data reported
&1002; Forms 990 2012, 2011, and 2010 Forms 990 filed with the IRS
&1002; Mission Objectives Mission Statement is available
&1002; Impact Summary Impact Summary from the nonprofit and Charting Impact Report are available
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Basic Organization Information

Island Housing Trust Corporation Organization Name provided in the GuideStar Exchange* as of 09/17/2014: Island Housing Trust Corporation

Organization Name as listed in the IRS Business Master File as of 10/17/2014: ISLAND HOUSING TRUST CORPORATION

* The GuideStar Exchange allows nonprofits to regularly update key information directly to GuideStar. It provides richer and broader information about their programs, impact, finances, people and more.
Physical Address: West Tisbury, MA 02575 
EIN: 02-0549245
Web URL: www.ihtmv.org 
NTEE Category: L Housing, Shelter
L20 Housing Development, Construction, Management
S Community Improvement, Capacity Building
Ruling Year: 2002 


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Mission Statement

The Island Housing Trust supports a diverse and vital community on the island of Martha's Vineyard by creating and sustaining permanently affordable rental and ownership housing serving low and moderate income residents.

Legitimacy Information

This organization is registered with the IRS.

This organization is required to file an IRS Form 990 or 990-EZ.

Institutional funders should note that an organization’s inclusion on GuideStar.org does not satisfy IRS Rev. Proc. 2011-33 for identifying supporting organizations.

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Annual Revenue & Expenses

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September 2014)

Fiscal Year Starting: January 01, 2014
Fiscal Year Ending: December 31, 2014

Total Revenue --
Total Expenses --

Revenue & Expenses

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Balance Sheet (IRS Form 990)

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Forms 990 Received from the IRS Additional Information
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Forms 990 Provided by the Nonprofit

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Financial Statements

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Annual Reports

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Leadership

(GuideStar Exchange,
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September 2014)

Mr Philippe Jordi

Term:

Since Apr 2005

Profile:

Philippe Jordi is the executive director of the Island Housing Trust, a non-profit community land trust on the island of Martha's Vineyard in Massachusetts. Philippe's work with the Trust has focused on creating a mosaic of small scale, scattered site housing that fits within existing neighborhoods and provide long-term affordability through ground lease restrictions and energy efficient design and construction. He has twenty-four years of experience as a community development specialist, is a certified planner with the American Institute of Certified Planners, and earned a B.S. in Environmental Studies from the State University of New York College of Environmental Science and Forestry in Syracuse, New York.

Leadership Statement:

The Island Housing Trust provides hope and opportunity to hundreds of island families seeking a dignified solution to their affordable housing needs. Together, we work towards creating a stronger, more vibrant and sustainable future for the Martha's Vineyard community. Our model is simple: We create and sustain permanent housing solutions that bridge the gap between the island's high property values and families in need. We lower the initial cost of homeownership by eliminating the land cost and a portion of the construction costs through grants and donations. In exchange, our homeowners agree that, if they should sell their home, they sell it to another low or moderate-income family at an affordable price. Our local partnerships are smart: We develop ownership and rental housing cost effectively and efficiently. We've done this by partnering with knowledgeable and experienced designers and builders who respect the island's natural and built environment and who strive to build energy efficient homes. This strengthens the island economy by creating more local jobs. Our homes are models of sustainability:We design and build simple, durable, healthy, energy efficient homes that are affordable to purchase, own, and maintain for generations. Our commitment is perpetual: We use a nationally recognized ground lease model helps ensure homeowners' success and their home's permanent affordability through ongoing support and stewardship services for as long as they own their home.Our success is growing:Over the past six years have sold 50 homes to low and moderate income earning families throughout five island towns. Our goal is to double the number of safe, stable year-round affordable homes available to island families by working in partnership with island towns, other housing organizations, and with the support of individuals like you.

Board Chair (GuideStar Exchange,
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September 2014)

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Board Co-Chair (GuideStar Exchange,
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September 2014)

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Board of Directors (GuideStar Exchange,
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September 2014)

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Board Leadership Practices (GuideStar Exchange,
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September 2014)
?

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Board Orientation & Education ?
Why does this matter? Without clarity around their responsibilities and expectations, board members are not positioned to succeed. They may find themselves challenged to fulfill their governance responsibilities or frustrated by the expectations that the organization has set for them. BoardSource recommends that every new board member participate in a formal orientation process, and that all board members sign a pledge or agreement committing to their board service and to all of the responsibilities and expectations that come with service. Ideally, board members also should participate in a formal governance training program prior to serving on a board.

Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations?
Response Not Provided
CEO Oversight ?
Why does this matter? Oversight and management of the chief executive is one of the board’s most important legal responsibilities. The CEO or executive director is the board's single employee, and - just like any other employer/employee relationship - regular and written assessment is critical to ensuring that the chief executive and board are communicating openly about goals and performance. BoardSource recommends that boards conduct formal, written reviews of their chief executives on an annual basis, which should include an in-person discussion with the chief executive and distribution of the written evaluation to the full board.

Has the board conducted a formal, written assessment of the chief executive within the past year?
Response Not Provided
Ethics & Transparency ?
Why does this matter? A commitment to handling conflicts of interests is essential to creating an organizational culture of transparency. Boards should create and follow a policy for identifying and handling conflicts of interest, whether real or perceived. BoardSource recommends that organizations review the conflict-of-interest statement and require signed disclosures from all board members and senior staff on an annual basis.

Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements within the past year?
Response Not Provided
Board Composition ?
Why does this matter? The best boards are composed of individuals who bring a variety of skills, perspectives, backgrounds, and resources to tackle the complex and strategic challenges confronting their organizations. BoardSource recommends that boards commit to diversity and inclusion by establishing written policies and practices, which include strategic and intentional recruitment of diverse board members, continual commitment to inclusivity, and equal access to board leadership opportunities.

Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership?
Response Not Provided
Board Performance ?
Why does this matter? Boards need to regularly assess their own performance. Doing so ensures that they are being intentional about how they govern their organization, which is a critical component of effective board leadership. BoardSource recommends that a board conduct a self-assessment of its performance a minimum of once every three years to ensure that it is staying on track with its roles and responsibilities.

Has the board conducted a formal, written self-assessment of its performance within the past three years?
Response Not Provided

Officers for Fiscal Year (IRS Form 990)

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Highest Paid Employees & Their Compensation (IRS Form 990)

Highest Paid Employee data is not available for this organization.

People information was last updated by the nonprofit in September 2014

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Programs

Program: Non-profit Developer (GuideStar Exchange,
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September 2014)

Budget:
$80,000
Category:
Housing, General/Other
Population Served:
Other Named Groups

Program Description:

The Island Housing Trust develops ownership and rental housing cost effectively and efficiently while strengthening the island of Martha's Vineyard's economy by creating more local jobs.

Program Long-Term Success:

Increase the number of ground-leased affordable housing properties on the Island from 60 to at 100, and increase the amount of affordable rental production.

Program Short-Term Success:

Work with current partners (Habitat for Humanity, Dukes County Regional Housing Authority, Island Grown Initiative) to secure financing and complete construction and occupancy for projects currently underway and in our pipeline. Explore new partnerships for production with on-island and off-island organizations to address growing elderly, workforce, and homeless housing needs.

Program Success Monitored by:

Quantitative measures of progress will include: 1) Number of units produced 2) Number of units in pipeline 3) Number of Island towns contributing to projects and dollar amounts of contributions 4) Specific partnership agreements with DCRHA and Habitat for production 5) Number of new partnerships entered into for affordable housing production 6) Increase in affordable rental housing production 7) New models of affordable housing explored Qualitative measures will include: 1) Positive feedback from towns, DCRHA and Habitat--responses to interviews or e-surveys about the success of the partnerships 2) Report out on any higher impact projects started--challenges and what made them work 3) Nature of the new partnerships--responses to e-surveys or interviews regarding partnership success, what makes them work/not work, identification of new populations being served

Program Success Examples:

Program: Land Steward (GuideStar Exchange,
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September 2014)

Budget:
$60,000
Category:
Housing, General/Other
Population Served:
Other Named Groups

Program Description:

The Island Housing Trust ensures permanent affordability from one homeowner to the next and on-going support for as long as they own their home.

Program Long-Term Success:

Ensure that affordable homes are well maintained, homeowners and renters are supported, and homes are kept affordable for current and future generations.

Program Short-Term Success:

1) Develop capital replacement schedules and plans for all properties. 2) Educate renters and owners regarding property care and use restrictions on properties. 3) Monitor rental property management. 4) Build adequate reserves for rental properties and for IHT to exercise purchase option.

Program Success Monitored by:

Quantitative measures of progress include: 1) Number of capital improvement and maintenance schedules completed 2) Number of training sessions held for owners/renters 3) Partnerships entered into to lead training sessions 4) Number of ground leased and deed restricted units monitored annually--increases over time, fees received from ground leases or town contracts 5) Report out on population served and property turnover--number of IHT rental and ownership units turning over each year, sales prices, who properties are serving (economic mix, family size), any changes over time 6) Report out on property management—costs and property management services 7) Funds raised for IHT property reserves--amount of funds raised, use of funds 8) Number of Individual Development Accounts or other savings programs started by residents 9) Report out on use of IDAs - dollars used, target (property improvement, home purchase, or something else) 10) Number of residents referred for services and nature of referrals--who is making the referral and to where, are they for family support, help with entrepreneurship, finding a job, something else Qualitative measures will include: 1) Report out on annual IHT reviews of properties, including financial and physical health, capital improvement and maintenance needs addressed, and satisfaction with property management services being delivered 2) Resident reports of satisfaction with IHT training sessions and website - what has worked, how has this built their capacity to care for their homes 3) Resident reports of satisfaction with IHT housing and with community - surveys which ask about quality of housing, sense of economic stability, opportunities to develop businesses taken since housed, school stability, success of referrals made

Program Success Examples:

activities, we will strengthen our inventory of property for the long term, improve the lives of individual families, and have increased positive economic and social impact on the overall Island community.

Program: Housing Specialist (GuideStar Exchange,
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September 2014)

Budget:
$30,000
Category:
Housing, General/Other
Population Served:
Other Named Groups

Program Description:

The Island Housing Trust provides professional housing development and stewardship services to local governments and other community organizations.

Program Long-Term Success:

Increase community awareness, understanding of, and support for IHT's activities, and for affordable housing on the Island of Martha's Vineyard.

Program Short-Term Success:

1) Update and implement our fundraising and communication plan. 2) Build board and advisory board leadership for outreach and education. 3) Increase staff capacity to implement outreach and support strategies. 4) Collaborate with other key Island organizations to launch a public education process 5) Explore and implement a campaign to increase resources for affordable housing on the Island 6) Develop a mechanism for and periodically assess public perceptions of IHT and affordable housing initiatives Island-wide.

Program Success Monitored by:

Quantitative measures of progress will include: 1) Funds raised for IHT operations--dollars raised, number of donors 2) Tax credits sold--amounts sold, to whom, how many new contributors 3) Increased public and private resources for IHT - funds raised, total number of sources, number of new sources 4) Success in campaign for a new Island-wide source of funds (e.g. Housing Bank) - identify funding mechanism(s) and build community support and commitment 5) Success in joint community education campaign - number of partner organizations working with IHT on the campaign, number of community members participating, responses to campaign 6) Local business, government and community leaders engaged in IHT activities - number of leaders engaged, number of new leaders engaged 7) Board and staff leadership of activities to gain political and monetary support - number of board and staff leaders engaged, new board and staff engaged Qualitative measures will include: 1) Positive feedback and increased understanding of IHT and affordable housing through annual surveys of public opinion at events and through e surveys, and IHT requests for town CPA fund

Program Success Examples:

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Impact Summary from the Nonprofit Additional Information
A Charting Impact Report consists of an organization’s responses to the five questions. Helping validate this self-reported data are three reviews. Once an organization has used the online interface to complete its report, its responses will produce a document with a unique URL that will be shared on this website, on your GuideStar profile, on the reports of charities participating in BBB Wise Giving Alliance evaluations, and – in the future – with other websites and information sources about nonprofits. We encourage organizations to use this URL to share their report on their own website and through their own media channels. Participants will receive guidance about promoting their Charting Impact Report, along with other benefits, once they publish their report.

Over the past six years the Island Housing Trust has used a nationally recognized model of permanent affordable housing and has built and/or sold 60 homes to low and moderate income working island families. The Island Housing Trust's goal is to double the number of safe, stable year-round affordable homes available to families living on the island of Martha's Vineyard by 2015, by working in partnership with local governments, other housing organizations, and the support of individual donors and foundations.
For more in-depth information about this organization's impact, view their Charting Impact Report.
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