Housing Initiatives Inc
- Assets
- $495.6k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Rutland, VT
- Founding
- 06/2006
- Data as of
- 03/2020
- EIN
- 20-1914244
Organization Overview
Housing Initiatives Inc is located in Rutland, VT. The organization was established in 2006. 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 Initiatives Inc 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 03/2020, Housing Initiatives Inc generated $40.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (32.7%) each year. All expenses for the organization totaled $34.3k during the year ending 03/2020. As we would expect to see with falling revenues, expenses have declined by (34.7%) per year over the past 4 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2020
Describe the Organization's Program Activity:
Part 3
TO PROMOTE AND PROVIDE FOR THE DEVELPOMENT, REHABILITATION AND PRESERVATION OF QUALITY AFFORDABLE HOUSING IN RUTLAND COUNTY FOR LOW TO MODERATE INCOME FAMILIES, THE ELDERLY AND PERSONS WITH DISABILITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kevin S Markowski President | 1 | $0 | |
Elizabeth Glynn Vice President | 1 | $0 | |
Pamela Douglass Treasurer | 1 | $0 | |
Terence J Moran Director | 1 | $0 | |
Betsy Franzoni Director | 1 | $0 | |
Kevin Loso Secretary | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $15,923 |
| Total Program Service Revenue | $24,794 |
| Membership dues | $0 |
| Investment income | $29 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $40,746 |
| Statement of Expenses | |
|---|---|
| Total expenses | $34,321 |
| Balance Sheet | |
|---|---|
| Total assets | $495,551 |
| Total liabilities | $1,889 |
| Net assets or fund balances | $493,662 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Housing Initiatives Inc has recieved totaling $80,000.
| Awarding Organization | Amount |
|---|---|
Vermont Low Income Trust For Electricity Inc Montpelier, VT PURPOSE: Energy efficiency low income VT | $80,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
Equinox Inc Albany, NY | $7,754,124 | $11,254,428 |
Rochester Management Inc Rochester, NY | $15,106,778 | $10,149,651 |
Jerome Avenue Care For The Homeless New York, NY | $8,771,577 | $9,215,112 |
Oub Court Housing Company Inc Bronx, NY | $15,971,755 | $7,036,525 |
Southeast Grand St Guild Hdf Co Inc Residential Management Assoc Inc Garden City, NY | $32,454,650 | $10,208,365 |
Evernorth Burlington, VT | $26,020,823 | $8,207,006 |
Hebrew Home Housing Development Fund Co Inc Bronx, NY | $13,025,058 | $6,258,776 |
Mishawum Park Tenants Association Inc Braintree, MA | $36,767,027 | $4,697,884 |
Fordham Bedford Housing Corp Bronx, NY | $73,266,623 | $9,182,543 |