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Nonprofiteer
← HOUSING TRUST OF RUTLAND COUNTY INC

Form 990 for tax year 2022

Filed by HOUSING TRUST OF RUTLAND COUNTY INC.

Totals

Total revenue
$2,048,290
Total expenses
$2,365,555
Contributions and grants received
$585,412
Grants paid
$0
Program service revenue
$1,399,824
Investment income
$63,054
Other revenue
$0
Total assets, end of year
$13,052,909
Total liabilities, end of year
$3,961,065
Net assets or fund balances, end of year
$9,091,844
Program services expenses (Part IX)
$2,066,077
Management and general expenses
$173,803
Fundraising expenses
$125,675
Program service expenses (Part III)
$2,066,077

Program services were 87.3% 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)

    $498,190

  • 1f · All other contributions, gifts and grants

    $87,222

  • 2a · Program service revenue: PROPERTY MANAGEMENT

    total $661,832 · related or exempt $661,832

  • 2b · Program service revenue: TENANT RENT

    total $659,818 · related or exempt $659,818

  • 2c · Program service revenue: DEVELOPMENT FEES

    total $128,100 · related or exempt $128,100

  • 2d · Program service revenue: MISCELLANEOUS

    total $66,964 · related or exempt $66,964

  • 2e · Program service revenue: INVESTMENT ACTIVITY -

    total -$116,890 · related or exempt -$116,890

  • 3 · Investment income

    total $1,290 · related or exempt $1,290

  • 7a · Gross sales of assets other than inventory

    other assets $61,764

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

    other assets $0

  • 7c · Gain or loss

    other assets $61,764

  • 7d · Net gain or loss

    total $61,764 · related or exempt $61,764

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $250,029 · program services $216,844 · management and general $28,954 · fundraising $4,231

  • 7 · Other salaries and wages

    total $677,100 · program services $540,294 · management and general $78,409 · fundraising $58,397

  • 9 · Other employee benefits

    total $173,952 · program services $143,262 · management and general $19,383 · fundraising $11,307

  • 10 · Payroll taxes

    total $77,184 · program services $63,027 · management and general $8,941 · fundraising $5,216

  • 11b · Fees: legal

    total $11,716 · program services $6,608 · management and general $3,226 · fundraising $1,882

  • 11c · Fees: accounting

    total $36,300 · program services $31,930 · management and general $2,760 · fundraising $1,610

  • 11g · Fees: other

    total $3,972 · program services $3,972

  • 12 · Advertising and promotion

    total $3,725 · program services $3,156 · management and general $359 · fundraising $210

  • 13 · Office expenses

    total $139,071 · program services $116,663 · management and general $14,145 · fundraising $8,263

  • 14 · Information technology

    total $50,001 · program services $50,001

  • 16 · Occupancy

    total $53,872 · program services $45,156 · management and general $5,505 · fundraising $3,211

  • 17 · Travel

    total $25,337 · program services $20,975 · management and general $2,755 · fundraising $1,607

  • 20 · Interest

    total $79,996 · program services $79,986 · management and general $6 · fundraising $4

  • 22 · Depreciation, depletion and amortization

    total $306,686 · program services $305,220 · management and general $926 · fundraising $540

  • 23 · Insurance

    total $33,515 · program services $29,394 · management and general $2,603 · fundraising $1,518

  • 24a · Other expenses: MAINTENANCE AND REPAIRS

    total $174,983 · program services $173,621 · management and general $860 · fundraising $502

  • 24b · Other expenses: UTILITIES

    total $142,947 · program services $141,821 · management and general $711 · fundraising $415

  • 24c · Other expenses: PROPERTY TAXES

    total $71,142 · program services $71,142

  • 24d · Other expenses: FUNDRAISING EXPENSES

    total $24,289 · fundraising $24,289

  • 24e · All other expenses

    total $29,738 · program services $23,005 · management and general $4,260 · fundraising $2,473

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,373,764 · end of year $1,085,403

  • 3 · Pledges and grants receivable

    beginning of year $120,881 · end of year $68,948

  • 4 · Accounts receivable

    beginning of year $17,216 · end of year $31,329

  • 7 · Other notes and loans receivable

    beginning of year $261,000 · end of year $483,000

  • 9 · Prepaid expenses and deferred charges

    beginning of year $18,828 · end of year $26,239

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

    $10,156,351

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

    $3,689,315

  • 10c · Land, buildings and equipment, net

    beginning of year $6,570,751 · end of year $6,467,036

  • 13 · Investments: program-related

    beginning of year $4,564,158 · end of year $4,785,349

  • 15 · Other assets

    beginning of year $264,877 · end of year $105,605

  • 17 · Accounts payable and accrued expenses

    beginning of year $188,460 · end of year $110,654

  • 19 · Deferred revenue

    beginning of year $6,709 · end of year $8,369

  • 23 · Secured mortgages and notes payable

    beginning of year $3,395,148 · end of year $3,366,480

  • 25 · Other liabilities

    beginning of year $192,049 · end of year $475,562

  • 27 · Net assets without donor restrictions

    beginning of year $9,409,109 · end of year $9,091,844

Mission and programs · 2022

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 $2,066,077 · Revenue $1,462,878

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • BILL BURKE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • CATHY REYNOLDS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • LYNNE KLAMM

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • SARAH GORDON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • SHERMAN HUNTER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • NORM LASH

    PAST PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • DONNALEEN FARWELL

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • SUSAN OLIVIERO

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ROGER LOUISELLE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • BILL GROSS

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • SCOTT DIKEMAN

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • DYLAN WATTS

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • WILLIAM ACKERMAN

    DIRECTOR OF ASSET AND PROPERTY MANAGEMENT

    Total calculated
    $19,343
    From this org
    $19,343
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • MARY COHEN

    EXECUTIVE DIRECTOR

    Total calculated
    $100,705
    From this org
    $100,705
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • KEVIN ROONEY

    DIRECTOR OF ASSET AND PROPERTY MANAGEMENT

    Total calculated
    $48,090
    From this org
    $48,090
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • ERIKA LAMB

    DIRECTOR OF FINANCE

    Total calculated
    $81,891
    From this org
    $81,891
    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 · 5% owned · share of income -$26,408 · share of assets $917,965 · general or managing partner

  • BENSON HEIGHTS LP

    RELATED · AFFORDABLE HOUSING · VT · 0.01% owned · share of income -$4 · share of assets $139,881 · general or managing partner

  • COLONIAL WEST LP

    RELATED · AFFORDABLE HOUSING · VT · 0.1% owned · share of income -$35,872 · share of assets $1,264,426 · general or managing partner

  • CONANT SQUARE HOUSING LP

    RELATED · AFFORDABLE HOUSING · VT · 0.01% owned · share of income -$72,383 · share of assets $15,994 · general or managing partner

  • CPWD HOUSING LP

    RELATED · AFFORDABLE HOUSING · VT · 0.01% owned · share of income -$12 · share of assets $486,050 · general or managing partner

  • MARBLE HOUSE LP

    RELATED · AFFORDABLE HOUSING · VT · 0.01% owned · share of income -$5 · share of assets $382,712 · general or managing partner

  • RUTLAND AFS LP

    RELATED · AFFORDABLE HOUSING · VT · 0.01% owned · share of income -$8 · share of assets $508,311 · general or managing partner

  • STANISLAUS HOUSING LP

    RELATED · AFFORDABLE HOUSING · VT · 0.01% owned · share of income -$57,376 · share of assets $366,874 · general or managing partner

  • THAYER BTS HOUSING LP

    RELATED · AFFORDABLE HOUSING · VT · 0.01% owned · share of income -$17 · share of assets $88,251 · general or managing partner

  • TUTTLE BLOCK HOUSING LP

    RELATED · AFFORDABLE HOUSING · VT · 100% owned · share of income -$238,753 · general or managing partner

  • WATKINS SCHOOL LP

    RELATED · AFFORDABLE HOUSING · VT · 1% owned · share of income -$11 · share of assets $69,503 · general or managing partner

  • HERITAGE COURT APARTMENTS LP

    RELATED · AFFORDABLE HOUSING · VT · 1% owned · share of income -$4 · share of assets $563,150 · general or managing partner

  • APPLETREE HOUSING LP

    RELATED · AFFORDABLE HOUSING · VT · 0.01% owned · share of income -$17 · share of assets $1,969,239 · general or managing partner

  • LINCOLN PLACE LP

    RELATED · AFFORDABLE HOUSING · VT · 0.01% owned · share of income -$28 · share of assets $133,032 · general or managing partner

  • TUTTLE BLOCK APARTMENTS LP

    RELATED · AFFORDABLE HOUSING · VT · share of income $1 · share of assets $379,142

Related corporations and trusts

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

Provenance

Return type
form_990
Tax year
2022
Filed
6 October 2023
IRS schema version
2022v5.0
Source object
202332799349301513

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