There are two options of ownership of a masjid
NAIT: a non-for-profit trust that holds title for many masjids as waqf
Owned by the organization
better suited for masjids with stable structure
better suited with a BOD/BOT combination structure
Keep in mind the following important matters
Property rent, buy, sell, improvement should require two third of the votes of the board and not only simple majority
Individual ownership: never allow individual ownership of the masjid, its land or any of its facilities
Rental contracts
Never rent a masjid facility to an individual for a long term lease or below fair market value. This often results in very costly correction
Never rent a masjid facility to its school or another related subsidiary for long term lease or below fair market value. This often result in subsidiary being in control of the masjid or out of control of the masjid which are inappropriate for the masjid and the community
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