Chittenden Housing Corporation
- Assets
- $4.4m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Winooski, VT
- Founding
- 08/1994
- Data as of
- 12/2021
- EIN
- 03-0340615
Organization Overview
Chittenden Housing Corporation is located in Winooski, VT. The organization was established in 1994. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, 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. Chittenden Housing Corporation 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 12/2021, Chittenden Housing Corporation generated $1.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $1.6m during the year ending 12/2021. While expenses have increased by 1.4% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
LOW & MODERATE INCOME HOUSING
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION HAS ACQUIRED AND RENOVATED A 19 UNIT APARTMENT COMPLEX AND A 101 UNIT RESIDENTIAL COMPLEX. THE PROPERTIES ARE OPERATED AS AFFORDABLE HOUSING FOR LOW TO MODERATE INCOME TENANTS.
THE ORGANIZATION HAS MADE A NUMBER OF GRANTS TO NON-PROFIT COMMUNITY SERVICE ORGANIZATIONS, AND A LOCAL MUNICIPAL GOVERNMENT ORGANIZATION IN FURTHERANCE OF THE ORGANIZATION'S MISSION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nicole Dusharm President | OfficerTrustee | 2 | $0 |
Diane Potvin Vice President | OfficerTrustee | 2 | $0 |
Katherine Decarreau Secretary/treasurer | Officer | 2 | $0 |
Christine Leach Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $1,519,863 |
| Investment income | $586 |
| 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 | $1,533,304 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $16,182 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $212,122 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $3,146 |
| Payroll taxes | $163 |
| Fees for services: Management | $74,397 |
| Fees for services: Legal | $19,820 |
| Fees for services: Accounting | $7,135 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $191,743 |
| Advertising and promotion | $0 |
| Office expenses | $1,968 |
| Information technology | $1,886 |
| Royalties | $0 |
| Occupancy | $377,730 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $226,771 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $318,895 |
| Insurance | $50,798 |
| All other expenses | $33,409 |
| Total functional expenses | $1,635,031 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $120,563 |
| Savings and temporary cash investments | $537,600 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,063 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $6,437 |
| Net Land, buildings, and equipment | $3,291,717 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $144,960 |
| Other assets | $270,544 |
| Total assets | $4,378,884 |
| Accounts payable and accrued expenses | $69,482 |
| Grants payable | $0 |
| Deferred revenue | $2,325 |
| 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 | $4,308,308 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $45,524 |
| Total liabilities | $4,425,639 |
| Net assets without donor restrictions | -$46,755 |
| Net assets with donor restrictions | $0 |
| 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 | $4,378,884 |
Grants Awarded
Over the last fiscal year, Chittenden Housing Corporation has awarded $121,599 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
WINOOSKI HOUSING PURPOSE: OPERATIONS | $107,599 |
Winooski, VT PURPOSE: OPERATIONS | $14,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Champlain Housing Tr Burlington, VT | $156,492,954 | $31,041,858 |
Neville Communities Home Inc Cambridge, MA | $11,055,368 | $17,412,264 |
Affordable Housing And Services Collaborative Inc Braintree, MA | $170,389,416 | $17,704,653 |
Fairhaven Healthcare Center Inc Lowell, MA | $23,711,383 | $11,897,110 |
Jewish Federation Housing Development Fund Company Buffalo, NY | $0 | $1,951,149 |
National Affordable Housing Foundation Schenectady Inc Waltham, MA | $11,290,760 | $3,782,521 |
Neighborhood Of Affordable Housing Inc East Boston, MA | $27,971,204 | $13,300,567 |
Grand Central District Management Association Inc New York, NY | $3,484,616 | $12,729,561 |
Westbeth Corp Housing Development Fund Company Inc New York, NY | $62,389,155 | $10,191,211 |
Inquilinos Boricuas En Accion Inc Boston, MA | $173,108,948 | $16,934,744 |
Brighton Beach Housing Development Fund Company Inc New York, NY | $22,060,771 | $3,270,016 |
Milton-Fuller Housing Corporation Milton, MA | $76,615,525 | $9,254,138 |