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← SHIRES HOUSING INC

Form 990 for tax year 2024

Filed by SHIRES HOUSING INC.

Totals

Total revenue
$3,103,927
Total expenses
$2,502,142
Contributions and grants received
$1,658,272
Grants paid
$0
Program service revenue
$1,435,956
Investment income
$9,699
Other revenue
$0
Total assets, end of year
$18,846,974
Total liabilities, end of year
$11,609,064
Net assets or fund balances, end of year
$7,237,910
Program services expenses (Part IX)
$2,093,071
Management and general expenses
$173,302
Fundraising expenses
$235,769
Program service expenses (Part III)
$2,093,071

Program services were 83.7% 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)

    $673,190

  • 1f · All other contributions, gifts and grants

    $985,082

  • 2a · Program service revenue: Tenant Rent

    total $585,375 · related or exempt $585,375

  • 2b · Program service revenue: Management Fees

    total $351,704 · related or exempt $351,704

  • 2c · Program service revenue: Development Fees

    total $349,189 · related or exempt $349,189

  • 2d · Program service revenue: Miscellaneous

    total $149,688 · related or exempt $149,688

  • 3 · Investment income

    total $5,278 · excluded $5,278

  • 7a · Gross sales of assets other than inventory

    other assets $73,918

  • 7b · Less cost or other basis and sales expenses

    other assets $69,497

  • 7c · Gain or loss

    other assets $4,421

  • 7d · Net gain or loss

    total $4,421 · excluded $4,421

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $207,849 · program services $166,376 · management and general $10,368 · fundraising $31,105

  • 7 · Other salaries and wages

    total $877,034 · program services $702,036 · management and general $43,750 · fundraising $131,248

  • 8 · Pension plan contributions

    total $11,502 · program services $8,252 · management and general $2,193 · fundraising $1,057

  • 9 · Other employee benefits

    total $51,286 · program services $34,888 · management and general $13,009 · fundraising $3,389

  • 10 · Payroll taxes

    total $93,637 · program services $70,224 · management and general $14,283 · fundraising $9,130

  • 11b · Fees: legal

    total $42,033 · program services $32,728 · management and general $5,676 · fundraising $3,629

  • 11c · Fees: accounting

    total $70,265 · program services $54,710 · management and general $9,489 · fundraising $6,066

  • 11g · Fees: other

    total $269,312 · program services $209,693 · management and general $36,368 · fundraising $23,251

  • 12 · Advertising and promotion

    total $36 · program services $36

  • 13 · Office expenses

    total $88,054 · program services $70,486 · management and general $10,677 · fundraising $6,891

  • 14 · Information technology

    total $17,293 · program services $13,843 · management and general $2,097 · fundraising $1,353

  • 16 · Occupancy

    total $432,407 · program services $419,560 · management and general $7,836 · fundraising $5,011

  • 17 · Travel

    total $11,795 · program services $9,442 · management and general $1,430 · fundraising $923

  • 20 · Interest

    total $47,649 · program services $44,135 · management and general $703 · fundraising $2,811

  • 22 · Depreciation, depletion and amortization

    total $104,340 · program services $97,178 · management and general $4,369 · fundraising $2,793

  • 23 · Insurance

    total $46,027 · program services $39,829 · management and general $3,781 · fundraising $2,417

  • 24a · Other expenses: Property Management

    total $71,642 · program services $71,642

  • 24b · Other expenses: Miscellaneous Expenses

    total $59,981 · program services $48,013 · management and general $7,273 · fundraising $4,695

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $426,070 · end of year $717,694

  • 3 · Pledges and grants receivable

    beginning of year $300,890 · end of year $256,449

  • 4 · Accounts receivable

    beginning of year $162,796 · end of year $397,531

  • 7 · Other notes and loans receivable

    beginning of year $5,908,912 · end of year $7,307,364

  • 9 · Prepaid expenses and deferred charges

    beginning of year $72,608 · end of year $58,972

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

    $7,594,989

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

    $1,514,890

  • 10c · Land, buildings and equipment, net

    beginning of year $4,095,437 · end of year $6,080,099

  • 12 · Investments: other securities

    beginning of year $3,215,673 · end of year $3,396,573

  • 15 · Other assets

    beginning of year $570,098 · end of year $632,292

  • 17 · Accounts payable and accrued expenses

    beginning of year $520,525 · end of year $1,036,147

  • 19 · Deferred revenue

    beginning of year $11,349 · end of year $17,510

  • 23 · Secured mortgages and notes payable

    beginning of year $7,515,610 · end of year $10,510,539

  • 25 · Other liabilities

    beginning of year $68,875 · end of year $44,868

  • 28 · Net assets with donor restrictions

    beginning of year $6,636,125 · end of year $7,237,910

Mission and programs · 2024

Mission

Shires Housing's mission is to provide safe, decent and perpetually affordable housing options for low and moderate income residents of Bennington County.

Activities or mission (Part I)

Shires Housing's mission is to provide safe, decent and perpetually affordable housing options for low and moderate income residents of Bennington County. At Shires Housing we are helping transform communities by improving neighborhoods, providing workforce housing, and driving economic development in our region.

  • All activity relating to the acquisition and rehabilitation or construction of affordable apartments and homes for low and moderate income Vermonters.

    Expenses $1,669,175 · Revenue $1,006,872

  • All activity related to the leasing and maintaining of housing targeted for senior citizens. Activity includes screening applicants, leasing apartments, implementing on-call and preventative maintenance, ensuring lease compliance, and ensuring funding compliance. Shires staff provide supportive services to the residents, including individual health plans, hospital discharge planning, wellness nurse services, food distribution and more.

    Expenses $265,733 · Revenue $245,452

  • Operation of 6 rental units located on North Street, Bennington, VT.

    Expenses $54,173 · Revenue $65,958

  • Operation of 4 rental units at 137-139 Benmont Ave., Bennington, VT.

    Expenses $34,503 · Revenue $43,137

  • Operating of 2 rental units at 810 Gage Street, Bennington, VT.

    Expenses $4,433

  • Operation of 4 Rental Units at 123-130 West Main St. Bennington, VT.

    Expenses $35,318 · Revenue $44,228

  • Operation of 3 Rental Units at 209 Park Street, Bennington, VT.

    Expenses $29,736 · Revenue $30,309

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

Listed in Part VII

  • Jim Sullivan

    President

    Total calculated
    $0
    Hours/week
    4
  • Reed Bongartz

    Vice President

    Total calculated
    $0
    Hours/week
    2
  • Amy McNeil

    Treasurer

    Total calculated
    $0
    Hours/week
    2
  • Callie Fishburn

    Secretary

    Total calculated
    $0
    Hours/week
    2
  • Julius Rosenwald

    Director

    Total calculated
    $0
    Hours/week
    2
  • William Deveneau

    Director

    Total calculated
    $0
    Hours/week
    2
  • Scott Winslow

    Director

    Total calculated
    $0
    Hours/week
    2
  • Kathy Leech

    Past President, Director

    Total calculated
    $0
    Hours/week
    2
  • Catherine Bryars

    Past Executive Director

    Total calculated
    $98,675
    From this org
    $75,456
    From related orgs
    $0
    Other
    $23,219
    Hours/week
    40
  • Wendy Zieba

    Executive Director

    Total calculated
    $109,173
    From this org
    $87,621
    From related orgs
    $0
    Other
    $21,552
    Hours/week
    40
  • Mary Cohen

    Executive Director

    Total calculated
    $0
    Hours/week
    10

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

No itemized grants to organizations on this return.

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.

  • Ben-South Housing LP

    Related · Affordable Housing · VT · 0.1% owned · share of income -$50 · share of assets $350,777 · general or managing partner

    Directly controlled by Shires Housing Inc

  • Manchester Commons Housing LP

    Related · Affordable Housing · VT · 100% owned · share of income -$37,809 · share of assets $1,011,317 · general or managing partner

    Directly controlled by Shires Housing Inc

  • Downtown Crossing Housing LP

    Related · Affordable Housing · VT · 100% owned · share of income -$7,233 · share of assets $1,140,264 · general or managing partner

    Directly controlled by Shires Housing Inc

  • Arlington Village Center Housing

    Related · Affordable Housing · VT · 100% owned · share of income -$14,724 · share of assets $110,930 · general or managing partner

    Directly controlled by Shires Housing Inc

  • Roaring Branch Housing LP

    Related · affordable Housing · VT · 0.01% owned · share of income -$9 · share of assets $23,964 · general or managing partner

    Directly controlled by Shires Housing Inc

  • Bennington Historic Limited Partnership

    Related · Affordable Housing · VT · 0.01% owned · share of income -$76,723 · share of assets $477,634 · general or managing partner

    Directly controlled by Shires Housing Inc

  • Applegate Apartments LP

    Related · Affordable Housing · VT · 0.01% owned · share of income -$72,960 · share of assets $750,129 · general or managing partner

    Directly controlled by Shires Housing Inc

  • Battenkill North Housing LP

    Related · Affordable Housing · VT · 0.01% owned · share of income -$6 · share of assets $159,933 · general or managing partner

    Directly controlled by Shires Housing Inc

  • Monument View Apartments LP

    Related · Affordable Housing · VT · 0.01% owned · share of income -$10 · share of assets $58,860 · general or managing partner

    Directly controlled by Shires Housing Inc

  • Lake Paran Village LP

    Related · Affordable Housing · VT · 0.01% owned · share of income -$15 · share of assets $1,106,893 · general or managing partner

    Directly controlled by Shires Housing Inc

  • Woodland Station Housing LP

    Related · Affordable Housing · VT · 0.01% owned · share of income -$14 · share of assets $949,793 · general or managing partner

    Directly controlled by Shires Housing Inc

  • Historic Norton House LP

    Related · Affordable Housing · VT · 0.01% owned · share of income -$10 · share of assets $1,791,134 · general or managing partner

    Directly controlled by Shires Housing Inc

  • Squire Recovery House LP

    Related · Affordable Housing · VT · 0.01% owned · share of income -$7 · share of assets $1,118,924 · general or managing partner

    Directly controlled by Shires Housing Inc

Related corporations and trusts

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

  • RAHC Housing Inc

    C · Affordable Housing · VT · 100% owned · share of income $1 · share of assets $3,097,882 · controlled entity

    Directly controlled by Shires Housing Inc

Provenance

Return type
form_990
Tax year
2024
Filed
13 November 2025
IRS schema version
2024v5.2
Source object
202523189349305602

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