Form 990 for tax year 2023

Filed by HOUSING TRUST OF RUTLAND COUNTY INC.

Totals

Total revenue: $2,120,179
Total expenses: $2,581,619
Contributions and grants received: $495,467
Grants paid: $0
Program service revenue: $1,623,513
Investment income: $1,199
Other revenue: $0
Total assets, end of year: $13,499,781
Total liabilities, end of year: $3,885,577
Net assets or fund balances, end of year: $9,614,204
Program services expenses (Part IX): $2,270,625
Management and general expenses: $189,584
Fundraising expenses: $121,410
Program service expenses (Part III): $2,270,625

Program services were 88.0% 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)

$338,945
1f · All other contributions, gifts and grants

$156,522
2a · Program service revenue: PROPERTY MANAGEMENT

total $796,225 · related or exempt $796,225
2b · Program service revenue: TENANT RENT

total $649,599 · related or exempt $649,599
2c · Program service revenue: MISCELLANEOUS

total $155,648 · related or exempt $155,648
2d · Program service revenue: DEVELOPMENT FEES

total $46,900 · related or exempt $46,900
2e · Program service revenue: INVESTMENT ACTIVITY -

total -$24,859 · related or exempt -$24,859
3 · Investment income

total $1,199 · related or exempt $1,199

Functional expenses

Part IX, the statement of functional expenses.

7 · Other salaries and wages

total $1,054,026 · program services $862,742 · management and general $120,811 · fundraising $70,473
9 · Other employee benefits

total $184,034 · program services $149,720 · management and general $21,672 · fundraising $12,642
10 · Payroll taxes

total $88,567 · program services $72,484 · management and general $10,158 · fundraising $5,925
11b · Fees: legal

total $14,385 · program services $12,599 · management and general $1,128 · fundraising $658
11c · Fees: accounting

total $43,000 · program services $37,870 · management and general $3,240 · fundraising $1,890
11g · Fees: other

total $413 · program services $413
12 · Advertising and promotion

total $402 · program services $345 · management and general $36 · fundraising $21
13 · Office expenses

total $102,162 · program services $86,699 · management and general $9,773 · fundraising $5,690
14 · Information technology

total $53,431 · program services $53,431
16 · Occupancy

total $68,809 · program services $55,735 · management and general $8,257 · fundraising $4,817
17 · Travel

total $35,670 · program services $29,631 · management and general $3,814 · fundraising $2,225
20 · Interest

total $82,449 · program services $81,919 · management and general $335 · fundraising $195
22 · Depreciation, depletion and amortization

total $310,514 · program services $308,593 · management and general $1,213 · fundraising $708
23 · Insurance

total $52,811 · program services $47,657 · management and general $3,255 · fundraising $1,899
24a · Other expenses: MAINTENANCE AND REPAIRS

total $237,938 · program services $236,600 · management and general $845 · fundraising $493
24b · Other expenses: UTILITIES

total $87,128 · program services $86,721 · management and general $257 · fundraising $150
24c · Other expenses: MISCELLANEOUS

total $72,345 · program services $64,749 · management and general $4,790 · fundraising $2,806
24d · Other expenses: PROPERTY TAXES

total $71,870 · program services $71,870
24e · All other expenses

total $21,665 · program services $10,847 · fundraising $10,818

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $1,085,403 · end of year $794,923
3 · Pledges and grants receivable

beginning of year $68,948 · end of year $41,504
4 · Accounts receivable

beginning of year $31,329 · end of year $21,458
7 · Other notes and loans receivable

beginning of year $483,000 · end of year $483,000
9 · Prepaid expenses and deferred charges

beginning of year $26,239 · end of year $25,452
10a · Land, buildings and equipment: cost or other basis

$10,250,268
10b · Land, buildings and equipment: accumulated depreciation

$3,964,925
10c · Land, buildings and equipment, net

beginning of year $6,467,036 · end of year $6,285,343
13 · Investments: program-related

beginning of year $4,785,349 · end of year $5,693,608
15 · Other assets

beginning of year $105,605 · end of year $154,493
17 · Accounts payable and accrued expenses

beginning of year $110,654 · end of year $116,906
19 · Deferred revenue

beginning of year $8,369 · end of year $4,441
23 · Secured mortgages and notes payable

beginning of year $3,366,480 · end of year $3,338,089
25 · Other liabilities

beginning of year $475,562 · end of year $426,141
27 · Net assets without donor restrictions

beginning of year $9,091,844 · end of year $9,614,204

Mission and programs · 2023

Mission

THE MISSION OF THE ORGANIZATION IS TO ASSIST LOWER INCOME PEOPLE BY PROVIDING AND PRESERVING AFFORDABLE ACCESS TO SAFE, DECENT, AND ATTRACTIVE HOUSING. IT'S MISSION IS ACCOMPLISHED PRIMARILY BY SOLICITING GRANTS AND LOW INTEREST LOANS FROM RESOURCE PROVIDERS SERVING VERMONT. THESE GRANTS AND LOW INTEREST LOANS EITHER MINIMIZE OR ELIMINATE DEBT SERVICE ASSOCIATED WITH SUBJECT PROPERTIES THEREBY REDUCING OPERATING COSTS OF HOUSING FOR LOWER INCOME FAMILIES AND INDIVIDUALS.

Activities or mission (Part I)

THE MISSION OF THE ORGANIZATION IS TO ASSIST LOWER INCOME PEOPLE BY PROVIDING AND PRESERVING AFFORDABLE ACCESS TO SAFE, DECENT, AND ATTRACTIVE HOUSING. ITS MISSION IS ACCOMPLISHED PRIMARILY BY SOLICITING GRANTS AND LOW INTEREST LOANS FROM RESOURCE PROVIDERS SERVING VERMONT. THESE GRANTS AND LOW INTEREST LOANS EITHER MINIMIZE OR ELIMINATE DEBT SERVICE ASSOCIATED WITH SUBJECT PROPERTIES THEREBY REDUCING OPERATING COSTS OF HOUSING FOR LOWER INCOME FAMILIES AND INDIVIDUALS.

THE ORGANIZATION PROVIDED AFFORDABLE HOUSING THROUGH A RENTAL PROGRAM AND GROUND LEASE PROGRAM.

Expenses $2,270,625 · Revenue $1,624,712

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

Jessica AndersonJESSICA ANDERSON

DIRECTOR

Total calculated

$0

Hours/week

1
Karen BartlettKAREN BARTLETT

DIRECTOR

Total calculated

$0

Hours/week

1
Cheryl HookerCHERYL HOOKER

DIRECTOR

Total calculated

$0

Hours/week

1
Susan OlivieroSUSAN OLIVIERO

DIRECTOR

Total calculated

$0

Hours/week

1
Norm LashNORM LASH

DIRECTOR

Total calculated

$0

Hours/week

1
Roger LouiselleROGER LOUISELLE

DIRECTOR

Total calculated

$0

Hours/week

1
Donnaleen FarwellDONNALEEN FARWELL

CO-SECRETARY

Total calculated

$0

Hours/week

1
Jake PlutaJAKE PLUTA

DIRECTOR

Total calculated

$0

Hours/week

1
Stephan TorresSTEPHAN TORRES

DIRECTOR

Total calculated

$0

Hours/week

1
Bill GrossBILL GROSS

CO-PRESIDENT

Total calculated

$0

Hours/week

1
Keri FranzoniKERI FRANZONI

CO-VICE PRESIDENT

Total calculated

$0

Hours/week

1
Dylan WattsDYLAN WATTS

CO-TREASURER

Total calculated

$0

Hours/week

1
Jennifer YakunovichJENNIFER YAKUNOVICH

CO-PRESIDENT

Total calculated

$0

Hours/week

1
Cathy ReynoldsCATHY REYNOLDS

CO-VICE PRESIDENT

Total calculated

$0

Hours/week

1
Melinda HumphreyMELINDA HUMPHREY

CO-TREASURER

Total calculated

$0

Hours/week

1
Gabe GladdingGABE GLADDING

CO-SECRETARY

Total calculated

$0

Hours/week

1
William AckermanWILLIAM ACKERMAN

DIRECTOR OF PROPERTY AND ASSET MANAGEMENT

Total calculated

$77,532

From this org

$77,532

From related orgs

$0

Other

$0

Hours/week

40
Mary CohenMARY COHEN

EXECUTIVE DIRECTOR

Total calculated

$105,252

From this org

$105,252

From related orgs

$0

Other

$0

Hours/week

40
Nikitta CavenyNIKITTA CAVENY

PROPERTY MANAGER

Total calculated

$59,185

From this org

$59,185

From related orgs

$0

Other

$0

Hours/week

40
Erika LambERIKA LAMB

DIRECTOR OF FINANCE

Total calculated

$86,089

From this org

$86,089

From related orgs

$0

Other

$0

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.

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.

64 SCHOOL STREET LP

RELATED · AFFORDABLE HOUSING · VT · 100% owned · share of income -$91,793 · share of assets $822,714 · general or managing partner
BENSON HEIGHTS LP

RELATED · AFFORDABLE HOUSING · VT · 0.01% owned · share of income -$3 · share of assets $140,102 · general or managing partner
COLONIAL WEST LP

RELATED · AFFORDABLE HOUSING · VT · 100% owned · share of income -$10,929 · share of assets $616,813 · general or managing partner
CONANT SQUARE HOUSING LP

RELATED · AFFORDABLE HOUSING · VT · 0.01% owned · share of income -$4 · share of assets $15,475 · general or managing partner
CPWD HOUSING LP

RELATED · AFFORDABLE HOUSING · VT · 0.01% owned · share of income -$9 · share of assets $484,821 · general or managing partner
MARBLE HOUSE LP

RELATED · AFFORDABLE HOUSING · VT · 0.01% owned · share of income -$6 · share of assets $384,587 · general or managing partner
RUTLAND AFS LP

RELATED · AFFORDABLE HOUSING · VT · 100% owned · share of income -$67,649 · share of assets $938,544 · general or managing partner
STANISLAUS HOUSING LP

RELATED · AFFORDABLE HOUSING · VT · 0.01% owned · share of income -$111,702 · share of assets $269,022 · general or managing partner
THAYER BTS HOUSING LP

RELATED · AFFORDABLE HOUSING · VT · 0.01% owned · share of income -$20 · share of assets $77,383 · general or managing partner
WATKINS SCHOOL LP

RELATED · AFFORDABLE HOUSING · VT · 1% owned · share of income -$11 · share of assets $69,741 · general or managing partner
HERITAGE COURT APARTMENTS LP

RELATED · AFFORDABLE HOUSING · VT · 0.1% owned · share of income -$7 · share of assets $565,257 · general or managing partner
APPLETREE HOUSING LP

RELATED · AFFORDABLE HOUSING · VT · 0.01% owned · share of income -$25 · share of assets $1,941,073 · general or managing partner
LINCOLN PLACE LP

RELATED · AFFORDABLE HOUSING · VT · 0.01% owned · share of income -$24 · share of assets $133,159 · general or managing partner
TUTTLE BLOCK APARTMENTS LP

RELATED · AFFORDABLE HOUSING · VT · 0.01% owned · share of income -$9 · share of assets $368,877 · general or managing partner

Related corporations and trusts

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

WATKINS VENTURE INC

C · AFFORDABLE HOUSING · VT · 100% owned
RCCLT PARTNERS INC

C · AFFORDABLE HOUSING · VT · 100% owned
HTRC VENTURES INC

C · AFFORDABLE HOUSING · VT · 100% owned
HTRC GENERAL INC

C · AFFORDABLE HOUSING · VT · 100% owned

Provenance

Return type: form_990
Tax year: 2023
Filed: 15 November 2024
IRS schema version: 2023v5.1
Source object: 202443209349312784

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