Island Housing Trust looks to build staff
The Island Housing Trust advertised a job opening for a program manager this week. Executive director Philippe Jordi said the nonprofit community land trust is on firmer financial footing, and is looking to expand its staff. Mr. Jordi said the organization has several affordable housing projects on the drawing boards.
The position would likely begin as a part-time job, for a person who would promote affordable housing, support homeowners, and organize fundraising, Mr. Jordi said. "The organization is growing in a measured way," he said. "We don't want to grow too fast, but I definitely need some help. We're in a financially solid position right now."
Over the past year the housing trust has worked to diversify its funding base, after the Martha's Vineyard Housing Fund, which once supplied much of the funding for administration of the housing trust, struggled to raise money.
Mr. Jordi said the housing trust now collects fees for project development and consulting work for other organizations. The organization retains the land when it builds an affordable housing development, and collects ground lease fees. It also has expanded its fundraising.
"We came into this year with some reserves, and we're projecting more this year," Mr. Jordi said. "If you want to develop properly, you have to invest. The organization has a mission, but it still has to meet the bottom line."
No salary was advertised with the job posting. According to Mr. Jordi, over the past five years, the Island Housing Trust has spent an average of 9 percent of its budget on operating costs such as salary, office space, and supplies.
According to its most recent financial report, the Trust had revenues of $349,654, and expenses of $329,319.