Vermont Community Loan Fund Inc
- Assets
- $46.8m
- Revenue
- $3.9m
- Investments
- $0.0
- Employees
- 17
- Location
- Montpelier, VT
- Founding
- 04/1988
- Data as of
- 12/2020
- EIN
- 22-2864900
Organization Overview
Vermont Community Loan Fund Inc is located in Montpelier, VT. The organization was established in 1988. 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 12/2020, Vermont Community Loan Fund Inc employed 17 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.
For the year ending 12/2020, Vermont Community Loan Fund Inc generated $3.9m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (0.8%) each year. All expenses for the organization totaled $2.6m during the year ending 12/2020. As we would expect to see with falling revenues, expenses have declined by (0.7%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Vermont Community Loan Fund Inc has awarded 31 individual grants totaling $731,575. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO CREATE OPPORTUNITIES THAT LEAD TO HEALTHY COMMUNITIES AND FINANCIAL STABILITY FOR ALL VERMONTERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION IS A MISSION-DRIVEN, COMMUNITY-FOCUSED ALTERNATIVE LENDER. WE MAKE LOANS TO LOCAL BUSINESSES, COMMUNITY ORGANIZATIONS & NONPROFITS, CHILD CARE PROVIDERS AND DEVELOPERS OF AFFORDABLE HOUSING WHO DON'T QUALIFY FOR A LOAN FROM A TRADITIONAL LENDER. WE COMBINE OUR LOANS WITH FINANCIAL CONSULTING AND BUSINESS DEVELOPMENT SERVICES TO MAKE SURE OUR BORROWERS HAVE ACCESS TO ALL THE TOOLS THEY NEED TO SUCCEED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Belongia Executive Di | Officer | 40 | $178,122 |
Jake Ide Employee | 40 | $107,393 | |
Janet Spitler President | OfficerTrustee | $0 | |
Alec Barclay Secretary | OfficerTrustee | $0 | |
Gwen Pokalo Treasurer | OfficerTrustee | $0 | |
Nicki Steel Vice Preside | OfficerTrustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $756,997 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,174,626 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,931,623 |
| Total Program Service Revenue | $1,784,185 |
| Investment income | $101,586 |
| 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 | $3,862,126 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $239,735 |
| 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. | $178,122 |
| Compensation of current officers, directors, key employees. | $178,122 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,006,572 |
| Pension plan accruals and contributions | $51,546 |
| Other employee benefits | $140,214 |
| Payroll taxes | $94,762 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,533 |
| Fees for services: Accounting | $35,621 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $40,722 |
| Office expenses | $5,711 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $82,970 |
| Travel | $399 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $506,109 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $30,415 |
| Insurance | $14,631 |
| All other expenses | -$40,031 |
| Total functional expenses | $2,599,572 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,313,931 |
| Savings and temporary cash investments | $12,993,382 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $26,664,416 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $41,401 |
| Net Land, buildings, and equipment | $35,444 |
| Investments—publicly traded securities | $3,600,319 |
| Investments—other securities | $0 |
| Investments—program-related | $1,999,108 |
| Intangible assets | $185,766 |
| Other assets | $0 |
| Total assets | $46,833,767 |
| Accounts payable and accrued expenses | $329,775 |
| Grants payable | $0 |
| Deferred revenue | $85,586 |
| 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 | $5,526,367 |
| Unsecured mortgages and notes payable | $27,038,136 |
| Other liabilities | $140,787 |
| Total liabilities | $33,120,651 |
| Net assets without donor restrictions | $10,792,753 |
| Net assets with donor restrictions | $2,920,363 |
| 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 | $46,833,767 |
Grants Awarded
Over the last fiscal year, Vermont Community Loan Fund Inc has awarded $217,279 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
NATUREPEDIC | | | $66,450 |
CRJ CONSULTING GROUP L3 | | | $40,080 |
AGRICULTURAL DIGESTERS LLC | | | $33,714 |
Boston, MA | | $30,000 |
Burlington, VT | | $19,435 |
NE FARM ENERGY | | | $17,600 |
Grants Recieved
Over the last fiscal year, we have identified 7 grants that Vermont Community Loan Fund Inc has recieved totaling $204,976.
| Awarding Organization | Amount |
|---|---|
Seventh Generation Foundation Inc Burlington, VT PURPOSE: 2019 TOXIN FREE KIDS PROGRAM ADMINISTRATION AND GRANTS | $116,850 |
Lets Grow Kids Inc Middlebury, VT PURPOSE: PROGRAM SUPPORT | $59,426 |
Family Values At Work A Multi-State Consortium Milwaukee, WI PURPOSE: PROMOTE POLICIES TO VALUE FAMILIES AT WORK | $10,000 |
Vermont Community Foundation Middlebury, VT PURPOSE: GEN. PURPOSE | $8,250 |
Fidelity Investments Charitable Gift Fund Boston, MA PURPOSE: For grant recipient's exempt purposes | $5,200 |
Granite State Economic Development Corp Portsmouth, NH PURPOSE: CAPITAL DEVELOPMENT & SMALL BUS COACHIN | $5,000 |
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 |