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Island Housing Trust Corporation

 PO Box 779
 West Tisbury, MA 02575
[P] (508) 693-1117
[F] (508) 693-5710
www.ihtmv.org
[email protected]
Philippe Jordi
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INCORPORATED: 2002
 Printable Profile (Summary / Full)
EIN 02-0549245

LAST UPDATED: 05/17/2017
Organization DBA --
Former Names Island Affordable Housing Development Corporation (2002)
Organization received a competitive grant from the Boston Foundation in the past five years No

Summary

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Mission StatementMORE »

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.

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.

FinancialsMORE »

Fiscal Year Jan 01, 2014 to Dec 31, 2014
Projected Income $666,000.00
Projected Expense $325,000.00

ProgramsMORE »

  • Housing Specialist
  • Land Steward
  • Non-profit Developer

Revenue vs. Expense ($000s)

Expense Breakdown 2016 (%)

Expense Breakdown 2015 (%)

Expense Breakdown 2014 (%)

For more details regarding the organization's financial information, select the financial tab and review available comments.


Overview

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.

Background Statement

The Island Housing Trust (IHT) is a non-profit community land trust and community development corporation whose mission is to create and sustain permanently affordable housing solutions on the Island of Martha’s Vineyard. As a developer and steward of ownership and rental housing, the IHT helps bridge the gap between the Island’s high property values and what low and moderate-income island families can afford.  The IHT mission and vision is to create sustainable and long term affordable homes, and look after them for future generations, in order to help build a more vital, diverse, and resilient Island economy and community.

The Island Housing Trust (IHT) serves all six Island towns, and particularly those of low and moderate income residents. The six rural towns on the Island share major characteristics, but vary somewhat in regard to their history, community character, socio-economic makeup and housing.

Impact Statement

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.

Needs Statement

The Island Housing Trust's goal is to raise $750,000 this year towards our $3 million three-year goal that will double the number of permanently affordable Island Housing Trust homes from 50 to 100. Every homeownership or rental opportunity requires between $100,000 and $150,000 in gap funding.   
 
Current Projects:
  • $ 50,000 – 3 Habitat for Humanity homes at Bailey Park in West Tisbury on Island Housing Trust land.
  • $ 50,000 – 2 single family homes at 619 Edgartown Road in West Tisbury.
  • $320,000 – 3 rental apartments at Sepiessa in West Tisbury
  • $500,000 – 4 rental apartments on Water Street in Vineyard Haven
  • $619,000 – 4 year-round homes to be rented to Island farmers and apprentices at Island Grown Farms (former Thimble Farm) in Tisbury
Programs:
  • $ 60,000 – Soft Second Loan for first time homebuyers to assist with down payment
  •  $600,000 – Buy Down Program that purchases and renovates existing homes
Stewardship:  
  • $75,000 – annually to provide on-going services and assistance to homeowners  
  • $500,000 – endowment of $10,000 for each Island Housing Trust leased property
 
 

CEO 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 Statement

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Geographic Area Served

In a specific U.S. city, cities, state(s) and/or region.
CAPE &ISLANDS REGION, MA
The Island of Martha's Vineyard including the towns of Tisbury, West Tisbury, Oak Bluffs, Edgartown, Chilmark, and Aquinnah in Massachusetts.

Organization Categories

  1. Housing, Shelter - Housing Development, Construction & Management
  2. Community Improvement, Capacity Building -
  3. -

Independent research has been conducted on this organization's theory of change or on the effectiveness of this organization's program(s)

No

Programs

Housing Specialist

The Island Housing Trust provides professional housing development and stewardship services to local governments and other community organizations.
Budget  $30,000.00
Category  Housing, General/Other Affordable Housing
Population Served Families
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 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 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

Examples of Program Success 


    Land Steward

    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.
    Budget  $60,000.00
    Category  Housing, General/Other Affordable Housing
    Population Served Families
    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 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 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

    Examples of Program Success 

    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.


    Non-profit Developer

    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.
    Budget  $80,000.00
    Category  Housing, General/Other Affordable Housing
    Population Served Families
    Program Short-Term Success 
    1. 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.
    2. Explore new partnerships for production with on-island and off-island organizations to address growing elderly, workforce, and homeless housing needs.

    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 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

    Examples of Program Success 


    CEO/Executive Director/Board Comments

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    Management


    CEO/Executive Director Mr Philippe Jordi
    CEO Term Start Apr 2005
    CEO Email [email protected]
    CEO Experience 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.
    Co-CEO --
    Co-CEO Term Start --
    Co-CEO Email --
    Co-CEO Experience --

    Former CEOs and Terms

    Name Start End
    -- -- --

    Senior Staff

    Name Title Experience/Biography
    Rob Goldfarb Development & Communications Director --

    Awards

    Award Awarding Organization Year
    Kuehn Community Preservation Award Massachusetts Community Preservation Coalition 2014
    LEED for Homes Platinium Certificate U.S. Green Building Council 2010

    Affiliations

    Affiliation Year
    Mass Association of Community Development Corporations (MACDC) 2013
    Citizens’ Housing and Planning Association 2005
    Member of state association of nonprofits? No
    Name of state association --

    External Assessments and Accreditations

    External Assessment or Accreditation Year
    -- --

    Collaborations

    --

    CEO/Executive Director/Board Comments

    --

    Foundation Comments

    --

    Staff Information

    Number of Full Time Staff 2
    Number of Part Time Staff 1
    Number of Volunteers 21
    Number of Contract Staff 2
    Staff Retention Rate % 100%

    Staff Demographics

    Ethnicity African American/Black: 0
    Asian American/Pacific Islander: 0
    Caucasian: 3
    Hispanic/Latino: 0
    Native American/American Indian: 0
    Other: 0
    Other (if specified): 0
    Gender Female: 2
    Male: 1
    Not Specified 0

    Plans & Policies

    Organization has Fundraising Plan? Yes
    Organization has Strategic Plan? Yes
    Years Strategic Plan Considers 5
    Management Succession Plan Under Development
    Business Continuity of Operations Plan --
    Organization Policies And Procedures Under Development
    Nondiscrimination Policy Under Development
    Whistle Blower Policy Yes
    Document Destruction Policy Yes
    Directors and Officers Insurance Policy Yes
    State Charitable Solicitations Permit --
    State Registration --

    Risk Management Provisions

    --

    Reporting and Evaluations

    Management Reports to Board? Yes
    CEO Formal Evaluation and Frequency Yes Annually
    Senior Management Formal Evaluation and Frequency No N/A
    Non Management Formal Evaluation and Frequency No N/A

    Governance


    Board Chair Mr Richard Leonard
    Board Chair Company Affiliation Cape Cod Five Cents Savings Bank
    Board Chair Term Mar 2013 - Mar 2014
    Board Co-Chair Mr Paul Moreau
    Board Co-Chair Company Affiliation Ron Rappaport Law Offices
    Board Co-Chair Term Mar 2013 - Mar 2014

    Board Members

    Name Company Affiliations Status
    Matthew Coffey -- --
    Cheryl Doble -- --
    Marie Doubleday -- --
    Bob Green -- --
    Tristan Israel -- --
    Richard Jacobs -- --
    Wayne Johnson -- --
    Richard Leonard -- --
    Liz Loucks -- --
    Keith McGuire -- --
    Paul Moreau -- --
    Sheetal Reubens -- --
    Richard Saltzberg -- --
    Marc Schoenfeld -- --
    Dan Seidman -- --
    Wendy Swolinzky -- --
    Vicki Thurber -- --
    Michael West -- --

    Constituent Board Members

    Name Company Affiliations Status
    -- -- --

    Youth Board Members

    Name Company Affiliations Status
    -- -- --

    Advisory Board Members

    Name Company Affiliations Status
    -- -- --

    Board Demographics

    Ethnicity African American/Black: 2
    Asian American/Pacific Islander: 1
    Caucasian: 15
    Hispanic/Latino: 0
    Native American/American Indian: 1
    Other: 0
    Other (if specified): --
    Gender Female: 6
    Male: 13
    Not Specified 0

    Board Information

    Board Term Lengths 3
    Board Term Limits 0
    Board Meeting Attendance % 100%
    Written Board Selection Criteria Yes
    Written Conflict Of Interest Policy Yes
    Percentage of Monetary Contributions 100%
    Percentage of In-Kind Contributions --
    Constituency Includes Client Representation Yes

    Standing Committees

    • Advisory Board / Advisory Council
    • Board Governance
    • Communications / Promotion / Publicity / Public Relations
    • Development / Fund Development / Fund Raising / Grant Writing / Major Gifts
    • Housing and Community Development
    • Program / Program Planning

    CEO/Executive Director/Board Comments

    The Island Housing Trust’s challenge is to build effective partnerships that draw on the strength and resources of our town governments, non-profit organizations, community groups, and businesses to address the affordable housing crisis island-wide.  Our goal is to build the capacity necessary to increase the scale of our housing production, build coalitions and support for affordable housing initiatives island-wide, and ensure that the long-term stewardship responsibility of our affordable housing is met.

    Foundation Comments

    --

    Financials


    Revenue vs. Expense ($000s)

    Expense Breakdown 2016 (%)

    Expense Breakdown 2015 (%)

    Expense Breakdown 2014 (%)

    Fiscal Year Jan 01, 2014 to Dec 31, 2014
    Projected Income $666,000.00
    Projected Expense $325,000.00
    Form 990s

    2016 Form 990

    2015 Form 990

    2014 Form 990

    2013 Form 990

    2012 Form 990

    2011 Form 990

    Audit Documents

    2015 Audited Financials

    2014 Audited Financials

    2013 Audited Financials

    2012 Audited Financials

    2011 Audited Financials

    IRS Letter of Exemption

    IRS Letter of Determination

    Prior Three Years Total Revenue and Expense Totals

    Fiscal Year 2016 2015 2014
    Total Revenue $4,419,955 $1,889,796 $1,819,110
    Total Expenses $734,013 $565,668 $479,634

    Prior Three Years Revenue Sources

    Fiscal Year 2016 2015 2014
    Foundation and
    Corporation Contributions
    -- -- --
    Government Contributions $0 $0 $0
        Federal -- -- --
        State -- -- --
        Local -- -- --
        Unspecified -- -- --
    Individual Contributions $4,233,948 $1,534,071 $1,512,347
    Indirect Public Support -- -- --
    Earned Revenue $182,688 $166,313 $306,763
    Investment Income, Net of Losses $3,319 $2,219 --
    Membership Dues -- -- --
    Special Events -- $187,193 --
    Revenue In-Kind -- -- --
    Other -- -- --

    Prior Three Years Expense Allocations

    Fiscal Year 2016 2015 2014
    Program Expense $558,738 $448,813 $370,020
    Administration Expense $148,128 $116,855 $109,614
    Fundraising Expense $27,147 -- --
    Payments to Affiliates -- -- --
    Total Revenue/Total Expenses 6.02 3.34 3.79
    Program Expense/Total Expenses 76% 79% 77%
    Fundraising Expense/Contributed Revenue 1% 0% 0%

    Prior Three Years Assets and Liabilities

    Fiscal Year 2016 2015 2014
    Total Assets $11,941,251 $7,181,440 $5,665,203
    Current Assets $4,798,373 $2,738,915 $2,456,591
    Long-Term Liabilities $2,388,423 $1,349,924 $1,160,243
    Current Liabilities $71,541 $36,171 $33,743
    Total Net Assets $9,481,287 $5,795,345 $4,471,217

    Prior Three Years Top Three Funding Sources

    Fiscal Year 2016 2015 2014
    1st (Source and Amount) -- --
    -- --
    -- --
    2nd (Source and Amount) -- --
    -- --
    -- --
    3rd (Source and Amount) -- --
    -- --
    -- --

    Financial Planning

    Endowment Value --
    Spending Policy Income Only
    Percentage(If selected) --
    Credit Line Yes
    Reserve Fund Yes
    How many months does reserve cover? 12.00

    Capital Campaign

    Are you currently in a Capital Campaign? Yes
    Capital Campaign Purpose The Island Housing Trust's goal is to raise $750,000 this year towards our $3 million three-year goal that will double the number of permanently affordable Island Housing Trust homes from 50 to 100. Every homeownership or rental opportunity requires between $100,000 and $150,000 in gap funding. Current Projects: $ 50,000 – 3 Habitat for Humanity homes at Bailey Park in West Tisbury on Island Housing Trust land. $ 50,000 – 2 single family homes at 619 Edgartown Road in West Tisbury. $320,000 – 3 rental apartments at Sepiessa in West Tisbury $500,000 – 4 rental apartments on Water Street in Vineyard Haven $619,000 – 4 year-round homes to be rented to Island farmers and apprentices at Island Grown Farms (former Thimble Farm) in Tisbury Programs: $ 60,000 – Soft Second Loan for first time homebuyers to assist with down payment $600,000 – Buy Down Program that purchases and renovates existing homes Stewardship: $ 75,000 – annually to provide on-going services and assistance to homeowners $500,000 – endowment of $10,000 for each Island Housing Trust leased property
    Campaign Goal $3,000,000.00
    Capital Campaign Dates Jan 2012 -
    Capital Campaign Raised-to-Date Amount $1,200,000.00
    Capital Campaign Anticipated in Next 5 Years? --

    Short Term Solvency

    Fiscal Year 2016 2015 2014
    Current Ratio: Current Assets/Current Liabilities 67.07 75.72 72.80

    Long Term Solvency

    Fiscal Year 2016 2015 2014
    Long-term Liabilities/Total Assets 20% 19% 20%

    CEO/Executive Director/Board Comments

    --

    Foundation Comments

    Financial summary data in the charts and graphs above is per the organization's IRS Form 990s. Contributions from foundations and corporations are included under individuals when the breakout was not available.

    Documents


    Other Documents

    No Other Documents currently available.

    Impact

    The Impact tab is a section on the Giving Common added in October 2013; as such the majority of nonprofits have not yet had the chance to complete this voluntary section. The purpose of the Impact section is to ask five deceptively simple questions that require reflection and promote communication about what really matters – results. The goal is to encourage strategic thinking about how a nonprofit will achieve its goals. The following Impact questions are being completed by nonprofits slowly, thoughtfully and at the right time for their respective organizations to ensure the most accurate information possible.


    1. What is your organization aiming to accomplish?

    Our key goals are as follows:

    1. Support – Increase community awareness, understanding of, and support for Island Housing Trust’s activities, and for affordable housing initiatives Island-wide.

    2. Production – Increase the number of ground-leased affordable housing throughout the Island from 50 to 100, with a focus on rental housing serving low-income residents.

    3. Stewardship – Ensure that affordable homes are well maintained; homeowners and renters are supported; and homes are kept affordable for current and future generations.


    2. What are your strategies for making this happen?

    Community Investment Plan strategies include:

    ·     Island residents will come together to support affordable housing on the Island.

    ·      $220,000 will be raised through Community Investment Tax Credits (CITC) for Island Housing Trust projects and working capital.

    ·      CITC funds will help leverage state public funding sources to support new affordable housing projects on the Island.

    ·      At least 15 new affordable homes and rental apartments will be produced in 2014.

    ·      A minimum of 23 new affordable homes and rental apartments will be produced in 2015.

    ·      We will complete capital improvement and maintenance schedules for all IHT properties.

    ·      Reserve funds will be built for all IHT rental properties.

    ·      We will monitor over 60 ground leased homes annually.

    ·      Residents of IHT-developed homes will experience stability and satisfaction with their homes, and

    ·      With stable homes, Island families and individuals will start new businesses, feel more secure, and build and sustain a strong sense of community.


    3. What are your organization’s capabilities for doing this?

    The Island Housing Trust is well positioned to finance and implement the proposed activities in our Community Investment Plan. Over the past eight years we have steadily grown our capacity and the support for our work on Martha’s Vineyard, developing 35 ownership and rental units, maintaining on-going stewardship of nearly 60 units, increasing our donor base, and increasing community awareness of the need for and success of our work. The attached timeline outlines our progress in meeting the significant affordable housing needs on Martha’s Vineyard.

     

    We have maintained strong and stable staff and board leadership. Executive Director Philippe Jordi brings 18 years of experience in community development on Martha’s Vineyard, first as the senior planner for the Wampanoag Tribe of Gay Head (Aquinnah) for six years, then as the executive director of the Dukes County Regional Housing Authority for four years, and as the executive director of the Island Housing Trust for the past eight years. Susie Buck recently joined IHT as part time Program Manager, and brings with her a background in office management, database management, client services, and event coordination. In addition, a Development and Communications Director position has recently been advertised. This person would assume responsibility for directing fundraising initiatives, marketing and branding, donor management, and communication campaigns for the organization.

     

    Board President Richard Leonard, Chief Operating Officer of the Martha’s Vineyard Saving Bank, brings 30 years of local banking and leadership experience to the organization. Board member Wayne Johnson is a retired real estate banking professional with 35 years of experience, including knowledge of community development in greater Boston. His banking career started in 1973 and his most recent position was senior vice president of Bank of America. Board member Cheryl Doble, a landscape architect, has worked in private practice and as an educator in New York State. For the past 20 years Cheryl has been a faculty member in the Landscape Architecture Department at SUNY College of Environmental Science and Forestry (ESF) in Syracuse, NY, where she was the founding director of the College’s Center for Community Design Research. See attached list of Board and Advisory Board leaders and their affiliations.


    4. How will your organization know if you are making progress?

    The Island Housing Trust will measure success with staff and partners tracking and reporting to the Board and to the community on key quantitative and qualitative indicators at least annually, as follows. We will use our HomeKeeper database (a Salesforce cloud based platform) for some measures and will create other reports as appropriate.

     

    GOAL ONE: Support - Increase community awareness, understanding of, and support for IHT’s activities, and for affordable housing on the Island.

    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

     

    Key Milestones:

    At least $200,000 raised annually for IHT operations.

    At least $150,000 in tax credits sold.

    At least one new funding source used.

    Impact: With increased financial, political, and community support, we expect to be able to produce and operate more affordable housing on the Island, meeting individual and community needs.

     

    GOAL TWO: Production - 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.

    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

     

    Key Milestones:

    At least 15 units produced in 2014.

    At least 23 units produced in 2015.

     

    Impact: With increased production, including more rental housing production, new partnerships, and new models explored, we expect to come closer to meeting the Island’s affordable housing needs, while also learning more and reporting out to our community about what strategies work best for meeting those needs.

     

    GOAL THREE: Stewardship-Ensure that affordable homes are well maintained, homeowners and renters are supported, and homes are kept affordable for current and future generations.

    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


    5. What have and haven’t you accomplished so far?

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