Chittenden Housing Corporation
- Assets
- $4.1m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Winooski, VT
- Founding
- 08/1994
- Data as of
- 12/2022
- 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 12/2022, Chittenden Housing Corporation generated $1.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $1.8m during the year ending 12/2022. While expenses have increased by 2.2% per year over the past 8 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
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 |
Christine Leach Director | Trustee | 2 | $0 |
Katherine Decarreau Secretary/treasurer | Officer | 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 | $1,640,645 |
| Investment income | $337 |
| 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 | $1,650,439 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $128,500 |
| 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 | $164,921 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $42,046 |
| Payroll taxes | $11,216 |
| Fees for services: Management | $73,249 |
| Fees for services: Legal | $6,909 |
| Fees for services: Accounting | $4,192 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $167,572 |
| Advertising and promotion | $0 |
| Office expenses | $43,736 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $402,550 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $216,342 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $325,274 |
| Insurance | $63,547 |
| All other expenses | $25,596 |
| Total functional expenses | $1,775,853 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $74,930 |
| Savings and temporary cash investments | $414,708 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $11,083 |
| 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 | $0 |
| Net Land, buildings, and equipment | $3,159,294 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $137,982 |
| Other assets | $318,350 |
| Total assets | $4,116,347 |
| Accounts payable and accrued expenses | $86,521 |
| Grants payable | $0 |
| Deferred revenue | $1,271 |
| 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 | $4,152,930 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $47,794 |
| Total liabilities | $4,288,516 |
| Net assets without donor restrictions | -$172,169 |
| 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 | $4,116,347 |
Grants Awarded
Over the last fiscal year, Chittenden Housing Corporation has awarded $121,599 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
DREAM PROGRAM PURPOSE: OPERATIONS | $14,000 |
WINOOSKI HOUSING PURPOSE: OPERATIONS | $107,599 |