Rutland West Neighborhood Housing Services Inc
- Assets
- $17.5m
- Revenue
- $3.5m
- Investments
- $0.0
- Employees
- 18
- Location
- West Rutland, VT
- Founding
- 08/1986
- Data as of
- 12/2023
- EIN
- 03-0301526
Organization Overview
Rutland West Neighborhood Housing Services Inc, operating under the name Neighborworks Of Western Vermont, is located in West Rutland, VT. The organization was established in 1986. 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. As of 12/2023, Neighborworks Of Western Vermont employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Neighborworks Of Western Vermont 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 12/2023, Neighborworks Of Western Vermont generated $3.5m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 1.8% each year. All expenses for the organization totaled $3.9m during the year ending 12/2023. While expenses have increased by 5.8% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO STRENGTHEN THE DEVELOPMENT OF A REGIONAL ECONOMY BY PROMOTING SAFE, EFFICIENT AND STABLE HOUSING AND COMMUNITY PROJECTS THROUGH EDUCATION, TECHNICAL ASSISTANCE, AND FINANCIAL SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOME REPAIR PROGRAM: THE HOME REPAIR PROGRAM CONSISTS OF NEIGHBORWORKS OF WESTERN VERMONT PROJECT COORDINATORS THAT OVERSEE A REPAIR PROJECT FOR LOW-TO-MODERATE INCOME HOMEOWNERS IN ADDISON, RUTLAND, AND BENNINGTON COUNTIES THAT ARE RECEIVING A LOAN AND/OR GRANT FROM NEIGHBORWORKS OF WESTERN VERMONT (NWWVT). TYPICAL HOME REPAIR PROJECTS INCLUDE NEW WELLS, SEPTIC SYSTEMS, HEATING SYSTEMS, ROOF REPLACEMENT, STRUCTURAL WORK, PLUMBING, ELECTRICAL, AND WEATHERIZATION. AS THE LOAN AND/OR GRANT PROCESS PROCEEDS, PROJECT COORDINATORS ARE COMPLETING A HEALTH AND SAFETY EVALUATION OF THE HOME, WORKING WITH THE HOMEOWNER TO CREATE A SCOPE OF WORK, HELPING WITH CONTRACTORS, AND OBTAINING ESTIMATES FOR THE PROJECT. ONCE THE LOAN AND/OR GRANT IS APPROVED, THE PROJECT COORDINATION CONTINUES WITH PROJECT OVERSIGHT AND ESCROW PAYMENTS TO CONTRACTORS, HELPING AT EVERY STEP UNTIL THE PROJECT IS COMPLETE, HOMEOWNER IS SATISFIED, AND THE HOME IS REPAIRED AND SAFE.
HOMEOWNERSHIP PROGRAM: THE HOMEOWNERSHIP PROGRAM CONSISTS OF BOTH EDUCATION AND COUNSELING FOR SUSTAINABLE HOMEOWNERSHIP. ONE-ON-ONE COUNSELING FOR PRE-PURCHASE COUNSELING, FINANCIAL COACHING AND LIMITED FORECLOSURE COUNSELING IS OFFERED IN-PERSON, VIRTUALLY, OR BY PHONE. PRE-PURCHASE EDUCATION IS OFFERED IN-PERSON, ONLINE AND VIRTUALLY. FORECLOSURE EDUCATION AND FINANCIAL CAPABILITY CLASSES ARE OFFERED ONLINE ONLY. THERE ARE APPROXIMATELY 150 PARTICIPANTS EACH YEAR ATTENDING HOMEOWNERSHIP AND FINANCIAL LITERACY EDUCATION CLASSES AND APPROXIMATELY 250 THAT TAKE ADVANTAGE OF SOME COUNSELING SERVICES OFFERED.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Heather Starzynski Executive Di | Officer | 40 | $126,875 |
Jennifer Yakunovich President | OfficerTrustee | 2 | $0 |
Keri Franzoni Vice Preside | OfficerTrustee | 2 | $0 |
Gabrielle Gladding Secretary | OfficerTrustee | 2 | $0 |
Karen Bartlett Director | Trustee | 2 | $0 |
Peg Flory Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Alan Construction Llc Construction | 12/30/17 | $132,746 |
Richard Reed & Son Inc Construction | 12/30/17 | $130,522 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,464,364 |
| All other contributions, gifts, grants, and similar amounts not included above | $504,782 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,969,146 |
| Total Program Service Revenue | $732,745 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $41,269 |
| Net Gain/Loss on Asset Sales | -$219,942 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,531,376 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,616,977 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $145,155 |
| Compensation of current officers, directors, key employees. | $116,124 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $670,187 |
| Pension plan accruals and contributions | $36,149 |
| Other employee benefits | $348,340 |
| Payroll taxes | $76,401 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $37,315 |
| Fees for services: Accounting | $28,358 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $238,924 |
| Advertising and promotion | $5,071 |
| Office expenses | $105,045 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $80,118 |
| Travel | $18,428 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $24,775 |
| Interest | $179,703 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $18,826 |
| Insurance | $24,648 |
| All other expenses | $0 |
| Total functional expenses | $3,896,201 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $516,034 |
| Savings and temporary cash investments | $2,341,715 |
| Pledges and grants receivable | $1,317,261 |
| Accounts receivable, net | $31,146 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $11,546,262 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $43,622 |
| Net Land, buildings, and equipment | $1,400,120 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $320,988 |
| Total assets | $17,517,148 |
| Accounts payable and accrued expenses | $176,452 |
| Grants payable | $0 |
| Deferred revenue | $225,340 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $192,299 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $5,957,691 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $87,771 |
| Total liabilities | $6,639,553 |
| Net assets without donor restrictions | $10,413,379 |
| Net assets with donor restrictions | $464,216 |
| 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 | $17,517,148 |
Grants Awarded
Over the last fiscal year, Rutland West Neighborhood Housing Services Inc has awarded $334,403 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
CIC LLC PURPOSE: CARES GRANT | $23,962 |
DEWEY RESIDENCES LLC PURPOSE: CARES GRANT | $30,000 |
VT HOUSING INITIATIVE FUND II LLC PURPOSE: CARES GRANT | $191,869 |
ALL SAINTS ANGLICAN CHURCH OF RUT PURPOSE: CARES GRANT | $28,535 |
WISTOL LLC PURPOSE: CARES GRANT | $60,037 |