← DOWNSTREET HOUSING & COMMUNITY DEVELOPMENT INC

Form 990 for tax year 2024

Filed by DOWNSTREET HOUSING & COMMUNITY DEVELOPMENT INC.

Totals

Total revenue: $10,418,229
Total expenses: $8,507,985
Contributions and grants received: $7,272,609
Grants paid: $3,441,017
Program service revenue: $2,962,447
Investment income: $77,810
Other revenue: $105,363
Total assets, end of year: $22,761,697
Total liabilities, end of year: $5,647,821
Net assets or fund balances, end of year: $17,113,876
Program services expenses (Part IX): $7,888,119
Management and general expenses: $548,634
Fundraising expenses: $71,232
Program service expenses (Part III): $7,888,119

Program services were 92.7% 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.

1e · Government grants (contributions)

$5,972,045
1f · All other contributions, gifts and grants

$1,300,564
1g · Noncash contributions included above

$55,699
2a · Program service revenue: RENTAL INCOME

total $1,008,651 · related or exempt $1,008,651
2b · Program service revenue: MAINTENANCE INCOME

total $744,935 · related or exempt $744,935
2c · Program service revenue: MANAGEMENT FEES

total $635,775 · related or exempt $635,775
2d · Program service revenue: DEVELOPMENT FEES

total $532,961 · related or exempt $532,961
2e · Program service revenue: LEASE FEE INCOME

total $40,125 · related or exempt $40,125
3 · Investment income

total $77,810 · excluded $77,810
6a · Gross rents

real property $38,133
6b · Less rental expenses

real property $44,678
6c · Rental income or loss

real property -$6,545
6d · Net rental income or loss

total -$6,545 · unrelated business -$6,545
11a · Other revenue: MISCELLANEOUS INCOME

total $111,908 · related or exempt $111,908
11e · Other revenue, total

$111,908

Functional expenses

Part IX, the statement of functional expenses.

1 · Grants to domestic organizations and governments

total $1,530,888 · program services $1,530,888
2 · Grants to domestic individuals

total $1,910,129 · program services $1,910,129
5 · Compensation of officers, directors and key employees

total $147,154 · program services $133,910 · management and general $8,829 · fundraising $4,415
7 · Other salaries and wages

total $1,808,743 · program services $1,532,236 · management and general $251,214 · fundraising $25,293
8 · Pension plan contributions

total $42,516 · program services $29,226 · management and general $13,596 · fundraising -$306
9 · Other employee benefits

total $310,167 · program services $229,500 · management and general $80,178 · fundraising $489
10 · Payroll taxes

total $194,654 · program services $168,449 · management and general $25,536 · fundraising $669
11a · Fees: management

total $116,785 · program services $116,785
11b · Fees: legal

total $22,669 · program services $21,953 · fundraising $716
11c · Fees: accounting

total $32,888 · management and general $32,888
11g · Fees: other

total $111,897 · program services $57,692 · management and general $24,992 · fundraising $29,213
12 · Advertising and promotion

total $21,729 · program services $18,856 · management and general $2,458 · fundraising $415
13 · Office expenses

total $161,488 · program services $156,959 · management and general $1,147 · fundraising $3,382
16 · Occupancy

total $269,292 · program services $266,010 · management and general $3,198 · fundraising $84
17 · Travel

total $37,884 · program services $33,651 · management and general $3,599 · fundraising $634
19 · Conferences, conventions and meetings

total $18,516 · program services $14,727 · management and general $3,789
20 · Interest

total $126,069 · program services $114,415 · management and general $11,654
22 · Depreciation, depletion and amortization

total $465,305 · program services $450,579 · management and general $14,726
23 · Insurance

total $106,998 · program services $79,837 · management and general $26,117 · fundraising $1,044
24a · Other expenses: SASH & OTHER PROGRAM

total $484,177 · program services $463,651 · management and general $20,526
24b · Other expenses: PROPERTY EXPENSE

total $432,670 · program services $434,580 · management and general -$2,263 · fundraising $353
24c · Other expenses: MISCELLANEOUS

total $146,043 · program services $114,762 · management and general $26,450 · fundraising $4,831
24d · Other expenses: CREDIT LOSSES

total $9,324 · program services $9,324

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $670,824 · end of year $635,655
2 · Savings and temporary cash investments

beginning of year $3,080,610 · end of year $4,656,826
3 · Pledges and grants receivable

beginning of year $541,091 · end of year $1,031,253
4 · Accounts receivable

beginning of year $332,398 · end of year $293,921
7 · Other notes and loans receivable

beginning of year $4,345,701 · end of year $4,624,107
9 · Prepaid expenses and deferred charges

beginning of year $63,603 · end of year $22,854
10a · Land, buildings and equipment: cost or other basis

$14,218,458
10b · Land, buildings and equipment: accumulated depreciation

$4,080,132
10c · Land, buildings and equipment, net

beginning of year $8,613,672 · end of year $10,138,326
13 · Investments: program-related

beginning of year $60,175 · end of year $60,175
15 · Other assets

beginning of year $1,023,740 · end of year $1,298,580
17 · Accounts payable and accrued expenses

beginning of year $228,331 · end of year $361,400
19 · Deferred revenue

beginning of year $216,839 · end of year $716,839
21 · Escrow or custodial account liability

beginning of year $51,236 · end of year $49,509
23 · Secured mortgages and notes payable

beginning of year $2,445,937 · end of year $3,684,795
25 · Other liabilities

beginning of year $813,379 · end of year $835,278
27 · Net assets without donor restrictions

beginning of year $11,109,597 · end of year $12,949,515
28 · Net assets with donor restrictions

beginning of year $3,866,495 · end of year $4,164,361

Mission and programs · 2024

Mission

DOWNSTREET STRENGTHENS THE COMMUNITIES OF CENTRAL VERMONT BY ENGAGING WITH PEOPLE, PROVIDING AFFORDABLE HOMES, AND CONNECTING PEOPLE TO THE RESOURCES AND SERVICES THEY NEED TO THRIVE.

PROPERTY MANAGEMENT - ACCOUNTS FOR THE SERVICES PROVIDED TO OTHER PROPERTIES IN WHICH DOWNSTREET IS AN INVESTOR.

Expenses $2,125,177 · Grants $90,000 · Revenue $1,380,710
PROPERTY OPERATIONS - ACCOUNTS FOR THE RENTAL ACTIVITY AND OPERATIONS OF THE FOLLOWING PROJECTS: BROMUR(SOLD IN 2023), BROOK STREET, GOOD NEIGHBORS, GREEN MOUNTAIN SEMINARY, EVERGREEN PLACE, FOUNDATION HOUSE, HILLSIDE, HUBBARD STREET, LAUREL STREET, LIMEHURST MOBILE HOME PARK, MAD RIVER MEADOWS, PHOENIX HOUSE, VERDMONT MOBILE HOME PARK, WHISTLESTOP MOBILE HOME PARK, AND THE YORRA BUILDING.

Expenses $1,419,544 · Revenue $1,008,651
HOMEOWNERSHIP - ACCOUNTS FOR THE ACTIVITIES OF DOWNSTREET'S HOMEOWNERSHIP CENTER.

Expenses $2,433,942 · Grants $1,897,209 · Revenue $40,125
PROJECT DEVELOPMENT - ACCOUNTS FOR ALL OPERATIONS OF DOWNSTREET FOR REHABILITATION AND DEVELOPMENT OF AFFORDABLE HOUSING.

Expenses $1,909,456 · Grants $1,453,808 · Revenue $532,961

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

Listed in Part VII

Angie HarbinANGIE HARBIN

EXECUTIVE DI

Total calculated

$147,154

From this org

$134,026

From related orgs

$0

Other

$13,128

Hours/week

40
Schuyler AndersonSCHUYLER ANDERSON

CFO

Total calculated

$131,538

From this org

$116,922

From related orgs

$0

Other

$14,616

Hours/week

40
Kevin EllisKEVIN ELLIS

PRESIDENT

Total calculated

$0

Hours/week

2
Lori BeldingLORI BELDING

VICE PRESIDE

Total calculated

$0

Hours/week

2
Pegeen MulhernPEGEEN MULHERN

SECRETARY

Total calculated

$0

Hours/week

2
Samantha AbareSAMANTHA ABARE

TREASURER

Total calculated

$0

Hours/week

2
Daphne MakinsonDAPHNE MAKINSON

DIRECTOR

Total calculated

$0

Hours/week

2
Jim AlvarezJIM ALVAREZ

DIRECTOR

Total calculated

$0

Hours/week

2
Polly NicholPOLLY NICHOL

DIRECTOR

Total calculated

$0

Hours/week

2
Rubin BennettRUBIN BENNETT

DIRECTOR

Total calculated

$0

Hours/week

2
Sarah Copeland HanzasSARAH COPELAND HANZAS

DIRECTOR

Total calculated

$0

Hours/week

2
Priscilla GilbertPRISCILLA GILBERT

DIRECTOR

Total calculated

$0

Hours/week

2
Debbie HillDEBBIE HILL

DIRECTOR

Total calculated

$0

Hours/week

2
Johanna ThibaultJOHANNA THIBAULT

DIRECTOR

Total calculated

$0

Hours/week

2
Hanna GaleHANNA GALE

DIRECTOR

Total calculated

$0

Hours/week

2
Terri JordanTERRI JORDAN

DIRECTOR

Total calculated

$0

Hours/week

2
Emmanuel Riby WilliamsEMMANUEL RIBY WILLIAMS

DIRECTOR

Total calculated

$0

Hours/week

2
Chelsea Boston Left July 2024CHELSEA BOSTON LEFT JULY 2024

DIRECTOR

Total calculated

$0

Hours/week

2

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.

Grants on this return

FOX RUN

$1,440,888
MARSH HOUSE

$90,000

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

MRM HOLDINGS LLC

HOUSING · VT · income $350,782 · assets $1,114,927

Directly controlled by DOWNSTREET
HUBBARD STREET LLC

HOUSING · VT · income $4,799 · assets $255,224

Directly controlled by DOWNSTREET

Related partnerships

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

BARRE STREET APARTMENTS LP

EXCLUDED · HOUSING · VT · 0.01% owned · share of income -$8 · share of assets -$76 · general or managing partner
BIANCHI-HEBERT LP

EXCLUDED · HOUSING · VT · 100% owned · share of income -$6 · share of assets -$142 · general or managing partner

Directly controlled by NA
CHASE BLOCK LP

EXCLUDED · HOUSING · VT · 0.01% owned · share of income -$4 · share of assets -$19 · general or managing partner

Directly controlled by NA
COLONIAL VILLAGE APARTMENTS LP

EXCLUDED · HOUSING · VT · 0.01% owned · share of income -$13 · share of assets -$63 · general or managing partner
FRENCH BLOCK LP

EXCLUDED · HOUSING · VT · 0.01% owned · share of income -$8 · share of assets -$39 · general or managing partner
GREEN MOUNTAIN SEMINARY HLP

EXCLUDED · HOUSING · VT · 99.1% owned · share of income -$79 · share of assets $7,525 · general or managing partner
LADD HALL LP

EXCLUDED · HOUSING · VT · 0.01% owned · share of income -$8 · share of assets -$64 · general or managing partner
RIVER STATION HLP

EXCLUDED · HOUSING · VT · 0.01% owned · share of income -$8 · share of assets -$130 · general or managing partner
NORTH BRANCH APARTMENTS LP

EXCLUDED · HOUSING · VT · 0.01% owned · share of income $3 · share of assets -$193 · general or managing partner
SUMMER STREET HLP

EXCLUDED · HOUSING · VT · 0.01% owned · share of income -$8 · share of assets -$51 · general or managing partner
WAITS RIVER HLP

EXCLUDED · HOUSING · VT · 0.01% owned · share of income -$12 · share of assets -$296 · general or managing partner
WHEELER BROOK HLP

EXCLUDED · HOUSING · VT · 0.01% owned · share of income -$6 · share of assets -$104 · general or managing partner
WINOOSKI RIVER APARTMENT LP

EXCLUDED · HOUSING · VT · 0.01% owned · share of income -$8 · share of assets -$41 · general or managing partner
EVERGREEN PLACE HLP

EXCLUDED · HOUSING · VT · 99.99% owned · share of income -$8 · general or managing partner
TAYLOR STREET

EXCLUDED · HOUSING · VT · 0.01% owned · share of income -$9 · share of assets -$27 · general or managing partner
WELLS RIVER HLP

EXCLUDED · HOUSING · VT · 0.01% owned · share of income -$8 · share of assets -$14
GRANITE CITY

EXCLUDED · HOUSING · VT · share of income $140,552

Related corporations and trusts

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

CVCLT RIVER STATION INC CVCLT RIVER STATION INC

C CORP · HOUSING · VT · 100% owned · share of income -$8 · share of assets $4,002

Directly controlled by NA
CVCLT VENTURES INC CVCLT VENTURES INC

C CORP · HOUSING · VT · 100% owned · share of income -$177 · share of assets $56,173

Directly controlled by NA

Provenance

Return type: form_990
Tax year: 2024
Filed: 14 November 2025
IRS schema version: 2024v5.0
Source object: 202523189349301592

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