Shires Housing Inc
- Assets
- $14.8m
- Revenue
- $901.8k
- Investments
- $3.2m
- Employees
- 32
- Location
- Bennington, VT
- Founding
- 05/1994
- Data as of
- 12/2023
- EIN
- 22-2976053
Organization Overview
Shires Housing Inc is located in Bennington, VT. The organization was established in 1994. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Shires Housing Inc employed 32 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Shires Housing 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 12/2023, Shires Housing Inc generated $901.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (6.2%) each year. All expenses for the organization totaled $610.6k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (8.7%) per year over the past 9 years. 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
SHIRES HOUSING'S MISSION IS TO PROVIDE SAFE, DECENT AND PERPETUALLY AFFORDABLE HOUSING OPTIONS FOR LOW AND MODERATE INCOME RESIDENTS OF BENNINGTON COUNTY. AT SHIRES HOUSING WE ARE HELPING TRANSFORM COMMUNITIES BY IMPROVING NEIGHBORHOODS, PROVIDING WORKFORCE HOUSING, AND DRIVING ECONOMIC DEVELOPMENT IN OUR REGION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ALL ACTIVITY RELATING TO THE ACQUISITION AND REHABILITATION OR CONSTRUCTION OF AFFORDABLE APARTMENTS AND HOMES FOR LOW AND MODERATE INCOME VERMONTERS.
ALL ACTIVITY RELATED TO THE LEASING AND MAINTAINING OF HOUSING TARGETED FOR SENIOR CITIZENS. ACTIVITY INCLUDES SCREENING APPLICANTS, LEASING APARTMENTS, IMPLEMENTING ON-CALL AND PREVENTATIVE MAINTENANCE, ENSURING LEASE COMPLIANCE, AND ENSURING FUNDING COMPLIANCE. SHIRES STAFF PROVIDE SUPPORTIVE SERVICES TO THE RESIDENTS, INCLUDING INDIVIDUAL HEALTH PLANS, HOSPITAL DISCHARGE PLANNING, WELLNESS NURSE SERVICES, FOOD DISTRIBUTION AND MORE.
OPERATION OF 4 RENTAL UNITS AT 137-139 BENMONT AVE., BENNINGTON, VT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kathy Leech President | OfficerTrustee | 4 | $0 |
Reed Bongartz Vice President | OfficerTrustee | 2 | $0 |
Amy Mcneil Treasurer | OfficerTrustee | 2 | $0 |
Callie Fishburn Secretary | OfficerTrustee | 2 | $0 |
Christopher Williams Director | Trustee | 2 | $0 |
Julius Rosenwald Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $326,994 |
| All other contributions, gifts, grants, and similar amounts not included above | $126,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $452,994 |
| Total Program Service Revenue | $358,330 |
| Investment income | $30 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $90,401 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $901,755 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $26,958 |
| Compensation of current officers, directors, key employees. | $2,583 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $213,522 |
| Pension plan accruals and contributions | $982 |
| Other employee benefits | $9,723 |
| Payroll taxes | $31,001 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,511 |
| Fees for services: Accounting | $18,599 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $125,570 |
| Advertising and promotion | $2 |
| Office expenses | $23,797 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $110,063 |
| Travel | $4,636 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $12,757 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,010 |
| Insurance | $10,477 |
| All other expenses | $0 |
| Total functional expenses | $610,620 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $259,059 |
| Savings and temporary cash investments | $167,011 |
| Pledges and grants receivable | $300,890 |
| Accounts receivable, net | $162,796 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $5,908,912 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $72,608 |
| Net Land, buildings, and equipment | $4,095,437 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $3,215,673 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $570,098 |
| Total assets | $14,752,484 |
| Accounts payable and accrued expenses | $520,525 |
| Grants payable | $0 |
| Deferred revenue | $11,349 |
| 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 | $7,515,610 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $68,875 |
| Total liabilities | $8,116,359 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $6,636,125 |
| 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 | $14,752,484 |