Gilman Housing Trust Inc
- Assets
- $13.7m
- Revenue
- $3.3m
- Investments
- $2.1m
- Employees
- 62
- Location
- Lyndonville, VT
- Founding
- 06/1986
- Data as of
- 12/2019
- EIN
- 03-0301520
Organization Overview
Gilman Housing Trust Inc is located in Lyndonville, VT. The organization was established in 1986. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, under the broad grouping of Housing & Shelter and related organizations. As of 12/2019, Gilman Housing Trust Inc employed 62 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.
For the year ending 12/2019, Gilman Housing Trust Inc generated $3.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (7.1%) each year. All expenses for the organization totaled $3.2m during the year ending 12/2019. As we would expect to see with falling revenues, expenses have declined by (9.5%) per year over the past 5 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2019
Describe the Organization's Mission:
Part 3 - Line 1
TO DEVELOP, OWN AND MANAGE AFFORDABLE RESIDENTIAL HOUSING UNITS AND RELATED FACILITIES FOR QUALIFIED LOW-INCOME FAMILIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES AFFORDABLE HOUSING TO LOW-INCOME FAMILIES IN NORTHERN VERMONT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patrick Shattuck Executive Director | Officer | 40 | $95,307 |
Diana Cazaudumec Director Of Finance | Officer | 40 | $83,476 |
Patrick Flood Outgoing Executive Director | Officer | 40 | $6,000 |
Tim O'neill Treasurer | OfficerTrustee | 1 | $0 |
Patricia Sears Vice President/secretary | OfficerTrustee | 1 | $0 |
Louise Bonvechio President | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $70,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $744,074 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $814,074 |
| Total Program Service Revenue | $2,375,883 |
| Investment income | $66,176 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,256,133 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $184,783 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,604,420 |
| Pension plan accruals and contributions | $18,279 |
| Other employee benefits | $180,137 |
| Payroll taxes | $175,935 |
| Fees for services: Management | $31,947 |
| Fees for services: Legal | $12,342 |
| Fees for services: Accounting | $59,232 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $9,622 |
| Advertising and promotion | $8,914 |
| Office expenses | $104,571 |
| Information technology | $56,520 |
| Royalties | $0 |
| Occupancy | $25,089 |
| Travel | $109,687 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,108 |
| Interest | $57,121 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $23,108 |
| Insurance | $12,661 |
| All other expenses | $0 |
| Total functional expenses | $3,247,767 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,273,695 |
| Savings and temporary cash investments | $96,240 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $19,207 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $4,489,302 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $28,155 |
| Net Land, buildings, and equipment | $1,378,203 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $2,061,292 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,320,854 |
| Total assets | $13,666,948 |
| Accounts payable and accrued expenses | $210,149 |
| Grants payable | $0 |
| Deferred revenue | $184,408 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $4,403,404 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $464,271 |
| Total liabilities | $5,262,232 |
| Net assets without donor restrictions | $4,426,558 |
| Net assets with donor restrictions | $3,978,158 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $13,666,948 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Gilman Housing Trust Inc has recieved totaling $236,937.
| Awarding Organization | Amount |
|---|---|
Vermont Community Foundation Middlebury, VT PURPOSE: GEN. PURPOSE | $225,000 |
Preservation Trust Of Vermont Inc Burlington, VT PURPOSE: Preservation | $11,937 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Services For The Underserved Inc New York, NY | $8,662,192 | $15,624,121 |
Elant At Brandywine Inc Goshen, NY | $12,795,730 | $14,014,165 |
Highbridge Community Housing Development Fund Corporation Bronx, NY | $41,225,680 | $9,090,923 |
Cambridge Affordable Housing Corporation Cambridge, MA | $136,870,580 | $10,886,409 |
Hudson River Housing Poughkeepsie, NY | $25,741,692 | $11,588,329 |
Boston Tremont Housing Development Fund Corporation New York, NY | $19,311,527 | $14,902,281 |
Fit-Nhnh Inc Manchester, NH | $20,211,623 | $14,555,429 |
Augustus & James Corporation New York, NY | $14,841,846 | $11,349,706 |
Equinox Inc Albany, NY | $6,087,418 | $9,728,215 |
Rupco Inc Kingston, NY | $18,056,705 | $9,570,443 |
Cambridge Community Housing Development Inc Cambridge, MA | $54,272,109 | $7,145,171 |
Jerome Avenue Care For The Homeless New York, NY | $7,863,394 | $9,289,479 |