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Nonprofiteer
← HOUSING TRUST OF RUTLAND COUNTY INC

Form 990 for tax year 2024

Filed by HOUSING TRUST OF RUTLAND COUNTY INC.

Totals

Total revenue
$2,682,851
Total expenses
$3,237,114
Contributions and grants received
$373,470
Grants paid
$0
Program service revenue
$2,288,350
Investment income
$901
Other revenue
$20,130
Total assets, end of year
$13,978,776
Total liabilities, end of year
$4,918,835
Net assets or fund balances, end of year
$9,059,941
Program services expenses (Part IX)
$2,841,395
Management and general expenses
$255,901
Fundraising expenses
$139,818
Program service expenses (Part III)
$2,841,395

Program services were 87.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1a · Federated campaigns

    $10,000

  • 1d · Related organizations

    $24,000

  • 1e · Government grants (contributions)

    $266,353

  • 1f · All other contributions, gifts and grants

    $73,117

  • 2a · Program service revenue: Property Management

    total $1,165,584 · related or exempt $1,165,584

  • 2b · Program service revenue: Tenant Rent

    total $725,264 · related or exempt $725,264

  • 2c · Program service revenue: Miscellaneous

    total $262,502 · related or exempt $262,502

  • 2d · Program service revenue: Develoment Fees

    total $135,000 · related or exempt $135,000

  • 3 · Investment income

    total $901 · excluded $901

  • 8a · Fundraising events: gross income

    $29,585

  • 8b · Fundraising events: direct expenses

    $9,455

  • 8c · Net income from fundraising events

    total $20,130 · excluded $20,130

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $177,313 · program services $147,359 · management and general $18,918 · fundraising $11,036

  • 7 · Other salaries and wages

    total $1,216,065 · program services $1,010,631 · management and general $129,748 · fundraising $75,686

  • 8 · Pension plan contributions

    total $18,105 · program services $15,046 · management and general $1,932 · fundraising $1,127

  • 9 · Other employee benefits

    total $177,817 · program services $147,778 · management and general $18,972 · fundraising $11,067

  • 10 · Payroll taxes

    total $92,928 · program services $77,229 · management and general $9,915 · fundraising $5,784

  • 11a · Fees: management

    total $131,267 · program services $111,308 · management and general $12,606 · fundraising $7,353

  • 11b · Fees: legal

    total $4,552 · program services $3,860 · management and general $437 · fundraising $255

  • 11c · Fees: accounting

    total $49,501 · program services $41,974 · management and general $4,754 · fundraising $2,773

  • 11g · Fees: other

    total $3,018 · program services $2,559 · management and general $290 · fundraising $169

  • 12 · Advertising and promotion

    total $10,847 · program services $9,197 · management and general $1,042 · fundraising $608

  • 13 · Office expenses

    total $52,157 · program services $44,226 · management and general $5,009 · fundraising $2,922

  • 14 · Information technology

    total $51,738 · program services $43,956 · management and general $4,915 · fundraising $2,867

  • 16 · Occupancy

    total $561,676 · program services $544,525 · management and general $15,951 · fundraising $1,200

  • 17 · Travel

    total $36,995 · program services $31,370 · management and general $3,553 · fundraising $2,072

  • 20 · Interest

    total $33,536 · program services $33,528 · management and general $5 · fundraising $3

  • 22 · Depreciation, depletion and amortization

    total $307,368 · program services $307,368

  • 23 · Insurance

    total $44,011 · program services $43,674 · management and general $213 · fundraising $124

  • 24a · Other expenses: Merger Expenses

    total $210,086 · program services $170,170 · management and general $25,210 · fundraising $14,706

  • 24b · Other expenses: Bad Debt Expense

    total $34,155 · program services $34,155

  • 24c · Other expenses: Miscellaneous Expenses

    total $23,979 · program services $21,482 · management and general $2,431 · fundraising $66

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $794,923 · end of year $1,062,063

  • 3 · Pledges and grants receivable

    beginning of year $41,504

  • 4 · Accounts receivable

    beginning of year $21,458 · end of year $144,174

  • 7 · Other notes and loans receivable

    beginning of year $483,000 · end of year $483,000

  • 8 · Inventories for sale or use

    end of year $17,909

  • 9 · Prepaid expenses and deferred charges

    beginning of year $25,452 · end of year $9,000

  • 10a · Land, buildings and equipment: cost or other basis

    $10,397,908

  • 10b · Land, buildings and equipment: accumulated depreciation

    $4,271,719

  • 10c · Land, buildings and equipment, net

    beginning of year $6,285,343 · end of year $6,126,189

  • 12 · Investments: other securities

    beginning of year $5,693,608 · end of year $5,476,812

  • 14 · Intangible assets

    end of year $154,204

  • 15 · Other assets

    beginning of year $154,493 · end of year $505,425

  • 17 · Accounts payable and accrued expenses

    beginning of year $116,906 · end of year $561,996

  • 19 · Deferred revenue

    beginning of year $4,441 · end of year $9,713

  • 23 · Secured mortgages and notes payable

    beginning of year $3,338,089 · end of year $3,317,716

  • 25 · Other liabilities

    beginning of year $426,141 · end of year $1,029,410

  • 27 · Net assets without donor restrictions

    beginning of year $9,614,204 · end of year $8,947,922

  • 28 · Net assets with donor restrictions

    end of year $112,019

Mission and programs · 2024

Mission

To promote safe, efficient and stable housing by transforming buildings and land into quality affordable homes, and supporting homeowners. We empower individuals and communities through education, technical assistance and financial services, fostering self-reliance and communal well-being.

  • The organization provided affordable housing through a rental program and ground lease program.

    Expenses $2,841,395 · Revenue $2,288,350

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Bill Gross

    Co-President

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Jennifer Yakunovich

    Co-President

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Cathy Reynolds

    Co-Vice President

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Keri Franzoni

    Co-Vice President

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Dylan Watts

    Co-Treasurer

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Melinda Humphrey

    Co-Treasurer

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Gabrielle Gladding

    Co-Secretary

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Donnaleen Farwell

    Co-Secretary

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Jessica Anderson

    Director

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Karen Bartlett

    Director

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Cheryl Hooker

    Director

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Norm Lash

    Director

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Roger Louiselle

    Director

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Susan Oliviero

    Director

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Jake Pluta

    Director

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Stephan Torres

    Director

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Peg Flory

    Past Director

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Karin Stamy

    Past Director

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Mary Cohen

    Executive Director

    Total calculated
    $154,283
    From this org
    $130,400
    From related orgs
    $0
    Other
    $23,883
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $130,400
    Bonus
    $0
    Other
    $0
    Deferred
    $2,333
    Nontaxable benefits
    $21,550
    Filer's total
    $154,283

  • Erika Lamb

    Past Director of Finance

    Total calculated
    $23,030
    From this org
    $21,816
    From related orgs
    $0
    Other
    $1,214
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Form 990 of other organizations
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • Rutland AFS Limited Partnership

    Related · Affordable Housing · VT · 100% owned · share of income -$34,397 · share of assets $927,186 · general or managing partner

    Directly controlled by Housing Trust of Rutland County Inc

  • CPWD Housing Limited Partnership

    Related · Affordable Housing · VT · 0.01% owned · share of income -$10 · share of assets $487,099 · general or managing partner

    Directly controlled by Housing Trust of Rutland County Inc

  • Stanislaus Housing Limited Partnership

    Related · Affordable Housing · VT · 0.01% owned · share of income -$26,439 · share of assets $230,916 · general or managing partner

    Directly controlled by Housing Trust of Rutland County Inc

  • Watkins School Limited Partnership

    Related · Affordable Housing · VT · 90% owned · share of income -$9 · share of assets $67,426 · general or managing partner

    Directly controlled by Housing Trust of Rutland County Inc

  • Marble House Limited Partnership

    Related · Affordable Housing · VT · 0.01% owned · share of income -$7 · share of assets $387,058 · general or managing partner

    Directly controlled by Housing Trust of Rutland County Inc

  • Heritage Court Apartments Limited Partnership

    Related · Affordable Housing · VT · 0.01% owned · share of income -$4 · share of assets $564,940 · general or managing partner

    Directly controlled by Housing Trust of Rutland County Inc

  • Lincoln Place Limited Partnership

    Related · Affordable Housing · VT · 0.01% owned · share of income -$15 · share of assets $134,471 · general or managing partner

    Directly controlled by Housing Trust of Rutland County Inc

  • Rutland Rehab Limited Partnership

    Related · Affordable Housing · VT · 100% owned · share of income $50,530 · share of assets $1,436,818 · general or managing partner

    Directly controlled by Housing Trust of Rutland County Inc

  • Tuttle Block Apartments Limited Partnership

    Related · Affordable Housing · VT · 0.01% owned · share of income -$4 · share of assets $228,036 · general or managing partner

    Directly controlled by Housing Trust of Rutland County Inc

  • Colonial West Limited Partnership

    Related · Affordable Housing · VT · 100% owned · share of income -$19,456 · share of assets $588,618 · general or managing partner

    Directly controlled by Housing Trust of Rutland County Inc

  • Conant Square Housing Limited Partnership

    Related · Affordable Housing · VT · 100% owned · share of income -$2 · share of assets $884,310 · general or managing partner

    Directly controlled by Housing Trust of Rutland County Inc

  • Benson Heights Limited Partnership

    Related · Affordable Housing · VT · 0.01% owned · share of income -$5 · share of assets $159,848 · general or managing partner

    Directly controlled by Housing Trust of Rutland County Inc

  • Appletree Apartments Limited Partnership

    Related · Affordable Housing · VT · 0.01% owned · share of income -$17 · share of assets $1,941,481 · general or managing partner

    Directly controlled by Housing Trust of Rutland County Inc

  • 64 School Steet Limited Partnership

    Related · Affordable Housing · VT · 100% owned · share of income -$45,773 · share of assets $780,080 · general or managing partner

    Directly controlled by Housing Trust of Rutland County Inc

  • Thayer BTS Housing Limited Partnership

    Related · Affordable Housing · VT · 0.01% owned · share of income -$16 · share of assets $92,490 · general or managing partner

    Directly controlled by Housing Trust of Rutland County Inc

  • Rutland West Housing Limited Partnership

    Real Estate · VT

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • HTRC General Inc

    C · Affordable Housing · VT · 100% owned · share of assets $87,412 · controlled entity

    Directly controlled by Housing Trust of Rutland County Inc

  • HTRC Ventures Inc

    C · Affordable Housing · VT · 100% owned · share of income $10,197 · share of assets $2,141,031 · controlled entity

    Directly controlled by Housing Trust of Rutland County Inc

  • RCCLT Partners Inc

    C · Affordable Housing · VT · 100% owned · share of income $104 · controlled entity

    Directly controlled by Housing Trust of Rutland County Inc

  • Watkins Venture Inc

    C · Affordable Housing · VT · 100% owned · share of assets -$9 · controlled entity

    Directly controlled by Housing Trust of Rutland County Inc

  • Kazon Building Inc

    C · Rental · VT

Provenance

Return type
form_990
Tax year
2024
Filed
12 November 2025
IRS schema version
2024v5.2
Source object
202513169349306866

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