NORFOLK LAND TRUST INC

EIN: 061072464 501(c)(3) Environment

NORFOLK, CT

Total Revenue
$663,978
Total Expenses
$56,492
Total Assets
$5,549,023
Net Assets
$5,538,323
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1982
Legal Domicile
CT
Principal Officer
Elizabeth Borden
Phone
8603078380
Tax Period
2024-01-01 to 2024-12-31

NORFOLK LAND TRUST INC, founded in 1982, is a small nonprofit in the Environment sector that reported $664K in total revenue in fiscal year 2024. Revenue surged 899% from the prior year, signaling strong growth momentum. The organization ran a surplus of $607K, a strong 91% operating margin.

Mission

TO ENCOURAGE THE PRESERVATION OF OPEN SPACE IN NORFOLK, CT AND surrounding communities FOR THE PUBLIC BENEFIT AND TO SERVE AS A VEHICLE FOR managing and maintaining LAND THAT HAS BEEN SET ASIDE FOR OPEN SPACE PURPOSES: (1) Land easements, (2) Public Trails, (3) lectures and educational outreach.

Program Service Accomplishments

Program 1
Expenses: $44,475

THE ORGANIZATION INCURRED COSTS TO ACQUIRE LAND FOR PRESERVATION, STEWARDSHIP COSTS FOR EXISTING LAND HELD FOR CONSERVATION PURPOSES AND VARIOUS ANCILLARY ACTIVITIES SUCH AS TRAIL MANAGEMENT.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $601,005
Program Service Revenue $0
Investment Income $56,382
Other Revenue $6,591
TOTAL REVENUE $663,978

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $7,425
Program Expenses $44,475
Other Expenses $56,492
TOTAL EXPENSES $56,492

Year-over-Year Comparison

2024 2023 Change
Revenue $663,978 $66,483 +9.0%
Expenses $56,492 $61,479 -0.1%
Net Income $607,486 $5,004 +120.4%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
14
Independent Members
16
Employees
N/A
Volunteers
40

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
4
$3,000
Total Directors
15
$3,000
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
SHELLEY HARMS Secretary 2.00
Officer Director
$3,000 $0 $3,000
Jennie Brown Director 1.00
Director
$0 $0 $0
Barry Roseman Director 1.00
Director
$0 $0 $0
Walter Godlewski Vice President 1.00
Officer Director
$0 $0 $0
GRANT MUDGE Director 1.00
Director
$0 $0 $0
Martin Tandler Director 1.00
Director
$0 $0 $0
Libby Borden President 2.00
Officer Director
$0 $0 $0
Steven Getz Treasurer 1.00
Officer Director
$0 $0 $0
Gail Savage Director 1.00
Director
$0 $0 $0
Kelly Kandra Hughes Director 1.00
Director
$0 $0 $0
David Cusick Director 1.00
Director
$0 $0 $0
BILL COUCH Director 1.00
Director
$0 $0 $0
Kathy Robb Director 1.00
Director
$0 $0 $0
MICHELLE CHILDS Director 1.00
Director
$0 $0 $0
DARYL EATON Director 1.00
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $663,978 $56,492 $5,549,023 $607,486
2023 $66,483 $61,479 $4,944,137 $5,004
2022 $778,139 $39,576 $4,885,928 $738,563
2021 $447,981 $38,323 $4,225,759 $409,658
2020 $54,184 $38,220 $3,783,076 $15,964
2019 $294,652 $49,432 $3,680,886 $245,220
2018 $74,411 $37,061 $3,390,456 $37,350
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