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Nonprofiteer
← RUTLAND WEST NEIGHBORHOOD HOUSING SERVICES INC

Form 990 for tax year 2023

Filed by RUTLAND WEST NEIGHBORHOOD HOUSING SERVICES INC.

Totals

Total revenue
$3,531,376
Total expenses
$3,896,201
Contributions and grants received
$2,969,146
Grants paid
$1,616,977
Program service revenue
$732,745
Investment income
-$219,942
Other revenue
$49,427
Total assets, end of year
$17,517,148
Total liabilities, end of year
$6,639,553
Net assets or fund balances, end of year
$10,877,595
Program services expenses (Part IX)
$3,218,568
Management and general expenses
$677,633
Fundraising expenses
$0
Program service expenses (Part III)
$3,218,568

Program services were 82.6% 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)

    $2,464,364

  • 1f · All other contributions, gifts and grants

    $504,782

  • 2a · Program service revenue: INTEREST INCOME

    total $540,375 · related or exempt $540,375

  • 2b · Program service revenue: PROGRAM & REVOLVING LOAN FEES

    total $192,370 · related or exempt $192,370

  • 6a · Gross rents

    real property $41,269

  • 6c · Rental income or loss

    real property $41,269

  • 6d · Net rental income or loss

    total $41,269 · excluded $41,269

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

    other assets $219,942

  • 7c · Gain or loss

    other assets -$219,942

  • 7d · Net gain or loss

    total -$219,942 · related or exempt -$219,942

  • 11a · Other revenue: MISCELLANEOUS

    total $8,158 · related or exempt $8,158

  • 11e · Other revenue, total

    $8,158

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $1,616,977 · program services $1,616,977

  • 5 · Compensation of officers, directors and key employees

    total $145,155 · program services $29,031 · management and general $116,124

  • 7 · Other salaries and wages

    total $670,187 · program services $564,088 · management and general $106,099

  • 8 · Pension plan contributions

    total $36,149 · program services $30,157 · management and general $5,992

  • 9 · Other employee benefits

    total $348,340 · program services $264,053 · management and general $84,287

  • 10 · Payroll taxes

    total $76,401 · program services $56,502 · management and general $19,899

  • 11b · Fees: legal

    total $37,315 · management and general $37,315

  • 11c · Fees: accounting

    total $28,358 · management and general $28,358

  • 11g · Fees: other

    total $238,924 · program services $50,947 · management and general $187,977

  • 12 · Advertising and promotion

    total $5,071 · program services $3,311 · management and general $1,760

  • 13 · Office expenses

    total $105,045 · program services $65,899 · management and general $39,146

  • 16 · Occupancy

    total $80,118 · program services $66,921 · management and general $13,197

  • 17 · Travel

    total $18,428 · program services $14,856 · management and general $3,572

  • 19 · Conferences, conventions and meetings

    total $24,775 · program services $6,846 · management and general $17,929

  • 20 · Interest

    total $179,703 · program services $179,703

  • 22 · Depreciation, depletion and amortization

    total $18,826 · program services $12,566 · management and general $6,260

  • 23 · Insurance

    total $24,648 · program services $19,100 · management and general $5,548

  • 24a · Other expenses: PROGRAM EXPENSE

    total $206,401 · program services $206,101 · management and general $300

  • 24b · Other expenses: BAD DEBT

    total $26,058 · program services $26,058

  • 24c · Other expenses: MISCELLANEOUS

    total $9,322 · program services $5,452 · management and general $3,870

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,308,117 · end of year $516,034

  • 2 · Savings and temporary cash investments

    beginning of year $2,182,550 · end of year $2,341,715

  • 3 · Pledges and grants receivable

    beginning of year $667,414 · end of year $1,317,261

  • 4 · Accounts receivable

    beginning of year $48,654 · end of year $31,146

  • 7 · Other notes and loans receivable

    beginning of year $11,792,628 · end of year $11,546,262

  • 9 · Prepaid expenses and deferred charges

    beginning of year $194,690 · end of year $43,622

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

    $2,598,294

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

    $1,198,174

  • 10c · Land, buildings and equipment, net

    beginning of year $692,163 · end of year $1,400,120

  • 15 · Other assets

    beginning of year $447,883 · end of year $320,988

  • 17 · Accounts payable and accrued expenses

    beginning of year $132,219 · end of year $176,452

  • 19 · Deferred revenue

    beginning of year $264,708 · end of year $225,340

  • 21 · Escrow or custodial account liability

    beginning of year $248,722 · end of year $192,299

  • 23 · Secured mortgages and notes payable

    beginning of year $5,316,736 · end of year $5,957,691

  • 25 · Other liabilities

    beginning of year $129,294 · end of year $87,771

  • 27 · Net assets without donor restrictions

    beginning of year $10,482,041 · end of year $10,413,379

  • 28 · Net assets with donor restrictions

    beginning of year $760,379 · end of year $464,216

Mission and programs · 2023

Mission

TO STRENGTHEN THE DEVELOPMENT OF A REGIONAL ECONOMY BY PROMOTING SAFE, EFFICIENT AND STABLE HOUSING AND COMMUNITY PROJECTS THROUGH EDUCATION, TECHNICAL ASSISTANCE, AND FINANCIAL SERVICES.

  • HOME REPAIR PROGRAM: THE HOME REPAIR PROGRAM CONSISTS OF NEIGHBORWORKS OF WESTERN VERMONT PROJECT COORDINATORS THAT OVERSEE A REPAIR PROJECT FOR LOW-TO-MODERATE INCOME HOMEOWNERS IN ADDISON, RUTLAND, AND BENNINGTON COUNTIES THAT ARE RECEIVING A LOAN AND/OR GRANT FROM NEIGHBORWORKS OF WESTERN VERMONT (NWWVT). TYPICAL HOME REPAIR PROJECTS INCLUDE NEW WELLS, SEPTIC SYSTEMS, HEATING SYSTEMS, ROOF REPLACEMENT, STRUCTURAL WORK, PLUMBING, ELECTRICAL, AND WEATHERIZATION. AS THE LOAN AND/OR GRANT PROCESS PROCEEDS, PROJECT COORDINATORS ARE COMPLETING A HEALTH AND SAFETY EVALUATION OF THE HOME, WORKING WITH THE HOMEOWNER TO CREATE A SCOPE OF WORK, HELPING WITH CONTRACTORS, AND OBTAINING ESTIMATES FOR THE PROJECT. ONCE THE LOAN AND/OR GRANT IS APPROVED, THE PROJECT COORDINATION CONTINUES WITH PROJECT OVERSIGHT AND ESCROW PAYMENTS TO CONTRACTORS, HELPING AT EVERY STEP UNTIL THE PROJECT IS COMPLETE, HOMEOWNER IS SATISFIED, AND THE HOME IS REPAIRED AND SAFE.

    Expenses $2,477,775 · Grants $1,616,977

  • HOMEOWNERSHIP PROGRAM: THE HOMEOWNERSHIP PROGRAM CONSISTS OF BOTH EDUCATION AND COUNSELING FOR SUSTAINABLE HOMEOWNERSHIP. ONE-ON-ONE COUNSELING FOR PRE-PURCHASE COUNSELING, FINANCIAL COACHING AND LIMITED FORECLOSURE COUNSELING IS OFFERED IN-PERSON, VIRTUALLY, OR BY PHONE. PRE-PURCHASE EDUCATION IS OFFERED IN-PERSON, ONLINE AND VIRTUALLY. FORECLOSURE EDUCATION AND FINANCIAL CAPABILITY CLASSES ARE OFFERED ONLINE ONLY. THERE ARE APPROXIMATELY 150 PARTICIPANTS EACH YEAR ATTENDING HOMEOWNERSHIP AND FINANCIAL LITERACY EDUCATION CLASSES AND APPROXIMATELY 250 THAT TAKE ADVANTAGE OF SOME COUNSELING SERVICES OFFERED.

    Expenses $740,793 · Revenue $732,745

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

Listed in Part VII

  • Heather Starzynski

    EXECUTIVE DI

    Total calculated
    $145,155
    From this org
    $126,875
    From related orgs
    $0
    Other
    $18,280
    Hours/week
    40

  • Jennifer Yakunovich

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Keri Franzoni

    VICE PRESIDE

    Total calculated
    $0
    Hours/week
    2

  • Gabrielle Gladding

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Karen Bartlett

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Peg Flory

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Melinda Humphrey

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Cheryl Hooker

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Karin Stamy

    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

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.

Disregarded entities

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

  • OCTOBER HILL LLC

    REAL ESTAT · VT · income $100,441

    Directly controlled by RWNHS

  • MARBLE STREET LLC

    REAL ESTAT · VT · income $40,969 · assets $164,899

    Directly controlled by RWNHS

  • LABORWORKS AT NEIGHBORWORKS LLC

    LABOR · VT · income $50,000

    Directly controlled by RWNHS

  • VT ENERGY EFFICIENCY LOAN FUND LLC

    LOANS · VT · assets $6,035,015

    Directly controlled by RWNHS

Related partnerships

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

  • RUTLAND WEST HOUSING LP

    REAL ESTAT · VT · 99.99% owned · share of assets $802,384

Related corporations and trusts

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

  • KAZON BUILDING INC

    C CORP · RENTAL · VT · 100% owned

    Directly controlled by NWWVT

Provenance

Return type
form_990
Tax year
2023
Filed
10 October 2024
IRS schema version
2023v5.0
Source object
202402959349300810

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