Dakota Land Trust

“No salaries are typically paid. If salaries are paid, amounts are minimal. No process for determining salaries is required.”

“Neighborhood housing services of the black hills, a 501(c)3 organization, manages the operations of dakota land trust free of charge.”

“The organization has members who elect members of the board.”

“All members can nominate and elect the board of directors.”

“Members must approve assessment of dues, the sale of land, the establishment or alteration of the "resale formula," the amendment of articles or bylaws, and dissolution of the organization.”

“The form 990 is prepared by a licensed cpa. The board of directors reviews a draft copy of the form 990 prior to being filed.”

“The organization's policy states that no officer, director, committee, or corporate member shall be personally interested in any contract relating to the operations conducted by the corporation, or in any loan or grant to be provided by the organizations, unless such contract, loan or grant is authorized by the majority of the members of the board in a meeting at which presence and vote of the interested person is not necessary for its authorization. The nature of the person's interest shall be fully disclosed and made known to the board before any vote to authorize the contract, loan or grant. The interested party shall refrain from voting.”

“The organization's conflict of interest policy, governing documents, and financial statements are available to the public upon request through the executive director.”

“Dakota land trust creates opportunities and fosters stewardship of permanently affordable housing for low-income and moderate-income families and individuals. We are designed to provide voluntary assistance for working families by providing equity funding to permanently reduce the cost of homes for qualified homebuyers by removing the land cost from the purchase price. Limited-income homebuyers will purchase their home and receive a 99- year ground lease to the lot on which their home sits - a lease that is assignable to qualified heirs and renewable for a second 99- year term. We place equity limitations into the ground lease agreement that restrict the resale price of the housing in order to maintain its long-term affordability - in an attempt to balance the competing goals of providing a fair return on the initial owner's housing investment, on the one hand, while assuring that the housing unit is kept affordable for the next buyer without requiring additional subsidy, on the other. In so doing, the benefit of the investment of public and private dollars needed to create affordability is preserved for generations to come. Through this program, the quality and affordability of housing for future low- and moderate-income residents of the communities of western south dakota is preserved. In addition, we address community deterioration in economically disadvantaged neighborhoods by promoting the development, rehabilitation, and maintenance of decent housing in these neighborhoods; by promoting economic opportunities for low-income residents of these neighborhoods; by making land available for projects and activities that improve the quality of life in these neighborhoods; by assisting residents of these neighborhoods in improving the safety and well-being of their community; and by protecting the natural environment and promoting the ecologically sound use of land and natural resources and the long-term health and safety of the communities of western south dakota. At december 31, 2018, dlt holds 33 properties. Families have been placed in homes and land leases on 27 of these properties. Income from these leases is charged at below market rates.”

“Hills partnership loss per k-1 12,434”