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Nonprofiteer
← DOWNSTREET HOUSING & COMMUNITY DEVELOPMENT INC

Form 990 for tax year 2022

Filed by DOWNSTREET HOUSING & COMMUNITY DEVELOPMENT INC.

Totals

Total revenue
$6,169,989
Total expenses
$4,631,088
Contributions and grants received
$3,658,720
Grants paid
$416,808
Program service revenue
$2,255,193
Investment income
$40,229
Other revenue
$215,847
Total assets, end of year
$17,964,468
Total liabilities, end of year
$4,202,956
Net assets or fund balances, end of year
$13,761,512
Program services expenses (Part IX)
$4,047,355
Management and general expenses
$475,548
Fundraising expenses
$108,185
Program service expenses (Part III)
$4,047,355

Program services were 87.4% 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)

    $2,458,349

  • 1f · All other contributions, gifts and grants

    $1,200,371

  • 1g · Noncash contributions included above

    $50,400

  • 2a · Program service revenue: RENTAL INCOME

    total $713,217 · related or exempt $713,217

  • 2b · Program service revenue: MAINTENANCE INCOME

    total $653,388 · related or exempt $653,388

  • 2c · Program service revenue: MANAGEMENT FEES

    total $567,869 · related or exempt $567,869

  • 2d · Program service revenue: DEVELOPMENT FEES

    total $281,694 · related or exempt $281,694

  • 2e · Program service revenue: LEASE FEE INCOME

    total $39,025 · related or exempt $39,025

  • 3 · Investment income

    total $9,206 · excluded $9,206

  • 6a · Gross rents

    real property $35,935

  • 6b · Less rental expenses

    real property $37,068

  • 6c · Rental income or loss

    real property -$1,133

  • 6d · Net rental income or loss

    total -$1,133 · unrelated business -$1,133

  • 7a · Gross sales of assets other than inventory

    other assets $101,971

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

    other assets $70,948

  • 7c · Gain or loss

    other assets $31,023

  • 7d · Net gain or loss

    total $31,023 · related or exempt $31,023

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $216,980 · related or exempt $216,980

  • 11e · Other revenue, total

    $216,980

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $100,749 · program services $100,749

  • 2 · Grants to domestic individuals

    total $316,059 · program services $316,059

  • 5 · Compensation of officers, directors and key employees

    total $124,548 · program services $107,111 · management and general $9,964 · fundraising $7,473

  • 7 · Other salaries and wages

    total $1,647,521 · program services $1,364,440 · management and general $221,930 · fundraising $61,151

  • 8 · Pension plan contributions

    total $38,372 · program services $31,801 · management and general $5,285 · fundraising $1,286

  • 9 · Other employee benefits

    total $264,128 · program services $219,493 · management and general $35,279 · fundraising $9,356

  • 10 · Payroll taxes

    total $144,021 · program services $122,341 · management and general $16,713 · fundraising $4,967

  • 11a · Fees: management

    total $86,625 · program services $86,625

  • 11b · Fees: legal

    total $8,848 · program services $7,045 · fundraising $1,803

  • 11c · Fees: accounting

    total $37,115 · management and general $37,115

  • 11g · Fees: other

    total $58,354 · program services $43,244 · management and general $15,110

  • 12 · Advertising and promotion

    total $35,314 · program services $9,936 · management and general $19,856 · fundraising $5,522

  • 13 · Office expenses

    total $109,335 · program services $102,558 · management and general $804 · fundraising $5,973

  • 16 · Occupancy

    total $197,402 · program services $195,434 · management and general $1,813 · fundraising $155

  • 17 · Travel

    total $31,447 · program services $24,177 · management and general $7,113 · fundraising $157

  • 19 · Conferences, conventions and meetings

    total $17,093 · program services $15,196 · management and general $1,669 · fundraising $228

  • 20 · Interest

    total $77,929 · program services $63,602 · management and general $12,400 · fundraising $1,927

  • 22 · Depreciation, depletion and amortization

    total $408,071 · program services $395,303 · management and general $7,392 · fundraising $5,376

  • 23 · Insurance

    total $72,587 · program services $27,437 · management and general $44,195 · fundraising $955

  • 24a · Other expenses: SASH & OTHER PROGRAM

    total $464,594 · program services $460,825 · management and general $3,769

  • 24b · Other expenses: PROPERTY EXPENSE

    total $311,827 · program services $294,603 · management and general $16,899 · fundraising $325

  • 24c · Other expenses: MISCELLANEOUS

    total $114,365 · program services $94,776 · management and general $18,058 · fundraising $1,531

  • 24d · Other expenses: BAD DEBT

    total -$35,216 · program services -$35,400 · management and general $184

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,160,782 · end of year $1,047,853

  • 2 · Savings and temporary cash investments

    beginning of year $1,337,613 · end of year $2,016,562

  • 3 · Pledges and grants receivable

    beginning of year $133,415 · end of year $204,931

  • 4 · Accounts receivable

    beginning of year $188,567 · end of year $257,282

  • 7 · Other notes and loans receivable

    beginning of year $4,269,007 · end of year $4,253,543

  • 9 · Prepaid expenses and deferred charges

    beginning of year $44,000 · end of year $35,897

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

    $12,830,676

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

    $3,854,566

  • 10c · Land, buildings and equipment, net

    beginning of year $7,346,170 · end of year $8,976,110

  • 13 · Investments: program-related

    beginning of year $60,035 · end of year $60,035

  • 15 · Other assets

    beginning of year $339,112 · end of year $1,112,255

  • 17 · Accounts payable and accrued expenses

    beginning of year $280,474 · end of year $408,436

  • 19 · Deferred revenue

    beginning of year $56,350 · end of year $16,624

  • 21 · Escrow or custodial account liability

    beginning of year $41,846 · end of year $41,792

  • 23 · Secured mortgages and notes payable

    beginning of year $2,248,590 · end of year $2,917,104

  • 25 · Other liabilities

    beginning of year $93,398 · end of year $819,000

  • 27 · Net assets without donor restrictions

    beginning of year $5,846,297 · end of year $9,692,836

  • 28 · Net assets with donor restrictions

    beginning of year $6,311,746 · end of year $4,068,676

Mission and programs · 2022

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 $2,084,514 · Grants $100,749 · Revenue $1,221,257

  • PROPERTY OPERATIONS - ACCOUNTS FOR THE RENTAL ACTIVITY AND OPERATIONS OF THE FOLLOWING PROJECTS: BROMUR, VERDMONT, LIMEHURST MOBILE HOME PARK, HILLSIDE, BRIDGE STREET, GUIDICI, LAUREL STREET, GOOD NEIGHBORS, PHOENIX HOUSE, AND WHISTLESTOP MOBILE HOME PARK.

    Expenses $962,757 · Revenue $713,217

  • HOMEOWNERSHIP - ACCOUNTS FOR THE ACTIVITIES OF DOWNSTREET'S HOMEOWNERSHIP CENTER.

    Expenses $658,770 · Grants $316,059 · Revenue $39,025

  • PROJECT DEVELOPMENT - ACCOUNTS FOR ALL OPERATIONS OF DOWNSTREET FOR REHABILITATION AND DEVELOPMENT OF AFFORDABLE HOUSING.

    Expenses $341,314 · Revenue $281,694

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

Listed in Part VII

  • Angie Harbin Started In 2022

    EXECUTIVE DI

    Total calculated
    $78,091
    From this org
    $75,487
    From related orgs
    $0
    Other
    $2,604
    Hours/week
    40

  • Connie Snow Left In 2022

    EXECUTIVE DI

    Total calculated
    $46,457
    From this org
    $46,073
    From related orgs
    $0
    Other
    $384
    Hours/week
    40

  • Kevin Ellis

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Lori Belding

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Daphne Makinson

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Pegeen Mulhern

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Samantha Abare

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Jim Alvarez

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Daniel Barlow

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Rubin Bennett

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Celine Davis

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Sarah Copeland Hanzas

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Lara Lanon

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Polly Nichol

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Jeanne Richardson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Emmanuel Riby Williams

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Vini Kd Emery Left In 2022

    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

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 · assets $128,275

    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 -$10 · share of assets -$58 · general or managing partner

  • BIANCHI-HEBERT LP

    EXCLUDED · HOUSING · VT · 0.01% owned · share of income -$14 · share of assets -$125 · general or managing partner

    Directly controlled by NA

  • CHASE BLOCK LP

    EXCLUDED · HOUSING · VT · 0.01% owned · share of income -$7 · share of assets -$6 · general or managing partner

    Directly controlled by NA

  • COLONIAL VILLAGE APARTMENTS LP

    EXCLUDED · HOUSING · VT · 0.01% owned · share of income -$11 · share of assets -$41 · general or managing partner

  • FRENCH BLOCK LP

    EXCLUDED · HOUSING · VT · 0.01% owned · share of income -$8 · share of assets -$23 · general or managing partner

  • GREEN MOUNTAIN SEMINARY HLP

    EXCLUDED · HOUSING · VT · 99.1% owned · share of income -$104 · share of assets $7,525 · general or managing partner

  • LADD HALL LP

    EXCLUDED · HOUSING · VT · 0.01% owned · share of income -$7 · share of assets -$55 · general or managing partner

  • RIVER STATION HLP

    EXCLUDED · HOUSING · VT · 0.01% owned · share of income -$8 · share of assets -$112 · general or managing partner

  • NORTH BRANCH APARTMENTS LP

    EXCLUDED · HOUSING · VT · 0.01% owned · share of income $6 · share of assets -$196 · general or managing partner

  • SUMMER STREET HLP

    EXCLUDED · HOUSING · VT · 0.01% owned · share of income -$7 · share of assets -$39 · general or managing partner

  • WAITS RIVER HLP

    EXCLUDED · HOUSING · VT · 0.01% owned · share of income -$12 · share of assets -$271 · general or managing partner

  • WHEELER BROOK HLP

    EXCLUDED · HOUSING · VT · 0.01% owned · share of income -$5 · share of assets -$94 · general or managing partner

  • WINOOSKI RIVER APARTMENT LP

    EXCLUDED · HOUSING · VT · 0.01% owned · share of income -$7 · share of assets -$25 · 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 -$13 · share of assets -$12 · general or managing partner

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 -$202 · share of assets $56,033

    Directly controlled by NA

Provenance

Return type
form_990
Tax year
2022
Filed
31 October 2023
IRS schema version
2022v5.0
Source object
202303049349301715

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