The Housing Foundation Incorporated
- Assets
- $36.4m
- Revenue
- $7.5m
- Investments
- $0.0
- Employees
- 1
- Location
- Montpelier, VT
- Founding
- 09/1987
- Data as of
- 09/2022
- EIN
- 03-0305214
Organization Overview
The Housing Foundation Incorporated is located in Montpelier, VT. The organization was established in 1987. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Housing Foundation Incorporated is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2022, Housing Foundation Incorporated generated $7.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.2% each year. All expenses for the organization totaled $6.4m during the year ending 09/2022. While expenses have increased by 0.7% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE HOUSING FOUNDATION, INC. PROVIDES SAFE, DECENT HOUSING AFFORDABLE TO PEOPLE WITH LOW INCOME THROUGHOUT VERMONT THROUGH OUR 234 UNITS IN 11 PROPERTIES AND PROMOTING AFFORDABLE HOME OWNERSHIP THROUGH OUR 1,006 LOTS IN 18 PARKS. WE ARE CONTINUALLY LOOKING TO EXPAND ACCESS TO AFFORDABLE HOUSING BY PRESERVING EXISTING UNITS THROUGH ACQUISITION AND DEVELOPING NEW PROPERTIES TO GROW THE AVAILABLE HOUSING STOCK.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RENTAL OF LOW INCOME HOUSING. AT THE CLOSE OF THE YEAR, THE CORPORATION OWNED AND/OR OPERATED 1,240 UNITS OF HOUSING.
ACQUISITION OF LOW INCOME HOUSING STOCK FOR THE PURPOSE OF PRESERVING AFFORDABLE HOUSING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jonathan Bond Executive Di | Officer | 40 | $95,000 |
Alison Bell President | OfficerTrustee | 2 | $0 |
Charles Cherhoniak Secretary | OfficerTrustee | 2 | $0 |
Mary Houghton Vice Preside | OfficerTrustee | 2 | $0 |
Helen Head Board Member | Trustee | 2 | $0 |
Michael Lorraine Board Member | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Alpine Building Restoration Inc Masonry | 9/29/22 | $203,624 |
Wind River Environmental Llc General Contrac | 9/29/22 | $124,679 |
Green Mountain Power Corp General Contrac | 9/29/22 | $138,681 |
Vermont State Housing Authority Acct./mgmnt | 9/29/22 | $940,372 |
Casella Waste Systems Inc Waste Managemen | 9/29/22 | $114,601 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $76,376 |
| All other contributions, gifts, grants, and similar amounts not included above | $39,792 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $116,168 |
| Total Program Service Revenue | $7,314,412 |
| Investment income | $8,923 |
| 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 | $7,466,947 |
| 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. | $80,384 |
| Compensation of current officers, directors, key employees. | $80,384 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $6,149 |
| Payroll taxes | $0 |
| Fees for services: Management | $1,311,442 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $178,046 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $3,111,171 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $255,519 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,027,865 |
| Insurance | $193,994 |
| All other expenses | $0 |
| Total functional expenses | $6,400,866 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,341,129 |
| Savings and temporary cash investments | $3,767,292 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $196,935 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,115,450 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $19,310 |
| Net Land, buildings, and equipment | $25,537,965 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $831,047 |
| Intangible assets | $0 |
| Other assets | $582,437 |
| Total assets | $36,391,565 |
| Accounts payable and accrued expenses | $1,125,120 |
| Grants payable | $0 |
| Deferred revenue | $497,406 |
| Tax-exempt bond liabilities | $1,929,790 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $13,270,667 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $16,822,983 |
| Net assets without donor restrictions | $18,090,179 |
| Net assets with donor restrictions | $1,478,403 |
| 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 | $36,391,565 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that The Housing Foundation Incorporated has recieved totaling $20,000.
| Awarding Organization | Amount |
|---|---|
High Meadows Fund Inc Middlebury, VT PURPOSE: TO SUPPORT A PLANNING PROCESS THAT INCLUDES ENGAGEMENT OF EXTERNAL EXPERTISE AND | $20,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Services For The Underserved Inc New York, NY | $8,662,192 | $15,624,121 |
Hudson River Housing Poughkeepsie, NY | $27,296,400 | $16,670,773 |
Division Housing Corporation Brooklyn, NY | $37,066,960 | $16,618,579 |
Cambridge Affordable Housing Corporation Cambridge, MA | $128,682,054 | $13,147,216 |
Boston Tremont Housing Development Fund Corporation New York, NY | $28,761,784 | $24,917,100 |
Highbridge Community Housing Development Fund Corporation Bronx, NY | $37,198,979 | $10,077,862 |
Harlem West Ii Housing Dev Fund Co Inc New York, NY | $7,149,098 | $1,214,746 |
Augustus & James Corporation New York, NY | $14,865,131 | $12,141,215 |
Rupco Inc Kingston, NY | $24,947,682 | $11,097,811 |
Fit-Nhnh Inc Manchester, NH | $20,051,648 | $10,413,245 |
Cambridge Community Housing Development Inc Cambridge, MA | $56,982,552 | $7,704,327 |
Providence Housing Development Corporation Rochester, NY | $12,131,024 | $9,484,321 |