Addison County Community Trust
- Assets
- $12.7m
- Revenue
- $3.2m
- Investments
- $0.0
- Employees
- 30
- Location
- Vergennes, VT
- Founding
- 11/1990
- Data as of
- 12/2022
- EIN
- 22-3032009
Organization Overview
Addison County Community Trust is located in Vergennes, VT. The organization was established in 1990. 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 12/2022, Addison County Community Trust employed 30 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Addison County Community Trust 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, Addison County Community Trust generated $3.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.8% each year. All expenses for the organization totaled $2.9m during the year ending 12/2022. While expenses have increased by 3.9% 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
ACCT STRIVES TO ENRICH THE LIVES OF LOW AND MODERATE INCOME PEOPLE OF ADDISON COUNTY BY DEVELOPING, MANAGING AND PRESERVING QUALITY, AFFORDABLE HOUSING AND PROVIDING SUPPORTS FOR FAMILIES, SENIORS AND INDIVIDUALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROPERTY OPERATIONS: OPERATION AND/OR STEWARDSHIP OF OVER 700 UNITS OF PERMANENTLY AFFORDABLE HOUSING; THIS INCLUDES: PROPERTY MANAGEMENT FOR 334 MULTIFAMILY TAX CREDIT APARTMENTS; OPERATION OF 340 LOTS IN NINE NONPROFIT ACCT-OWNED PARKS FOR OWNER-OCCUPIED MOBILE HOMES; AND DOWN PAYMENT GRANTS FOR MODERATE-INCOME HOUSEHOLDS WITH SUBSEQUENT STEWARDSHIP OF APPROXIMATELY 78 HOMES IN THE SHARED-EQUITY PROGRAM. APPROXIMATELY 752 HOUSEHOLDS WERE SERVED IN 2022.
REHAB AND DEVELOPMENT: REHAB AND DEVELOPMENT OF NEW AFFORDABLE HOUSING UNITS TO ALLEVIATE THE COUNTY'S LESS-THAN-ONE-PERCENT VACANCY RATE, INCLUDING MULTIFAMILY APARTMENTS AND SINGLE-FAMILY HOMES.
RESIDENT SERVICES: PROVIDING SASH (SUPPORT AND SERVICES AT HOME) SERVICES FOR ACCT SENIOR HOUSING RESIDENTS AND RESIDENTS IN THE SURROUNDING COMMUNITIES. APPROXIMATELY 190 SENIORS WERE SERVED IN 2022. ALSO PROVIDING RESIDENT SUPPORT SERVICES AS NEEDED TO ACCT RESIDENTS. APPROXIMATELY 97 HOUSEHOLDS WERE SERVED IN 2022.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elise Shanbacker Executive Di | Officer | 40 | $108,719 |
John Barstow President | OfficerTrustee | 2 | $0 |
David Hamilton Vice Preside | OfficerTrustee | 2 | $0 |
Robert Coffey Treasurer | OfficerTrustee | 2 | $0 |
Abi Sessions Secretary | OfficerTrustee | 2 | $0 |
Jon Crystal Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $14,956 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $351,835 |
| All other contributions, gifts, grants, and similar amounts not included above | $364,028 |
| Noncash contributions included in lines 1a–1f | $10,160 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $730,819 |
| Total Program Service Revenue | $2,471,611 |
| Investment income | -$10,561 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$28,184 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,221,130 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $87,124 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $113,785 |
| Compensation of current officers, directors, key employees. | $38,687 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $986,569 |
| Pension plan accruals and contributions | $21,559 |
| Other employee benefits | $170,108 |
| Payroll taxes | $83,351 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $29,560 |
| Fees for services: Accounting | $14,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $55,297 |
| Advertising and promotion | $3,849 |
| Office expenses | $123,862 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $734,277 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $38,871 |
| Interest | $115,580 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $227,236 |
| Insurance | $46,371 |
| All other expenses | $20,716 |
| Total functional expenses | $2,872,315 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,927,164 |
| Savings and temporary cash investments | $294,094 |
| Pledges and grants receivable | $92,140 |
| Accounts receivable, net | $348,864 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $482,043 |
| Inventories for sale or use | $9,794 |
| Prepaid expenses and deferred charges | $67,345 |
| Net Land, buildings, and equipment | $8,385,115 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $1,049,560 |
| Intangible assets | $0 |
| Other assets | $9,000 |
| Total assets | $12,665,119 |
| Accounts payable and accrued expenses | $232,187 |
| Grants payable | $0 |
| Deferred revenue | $51,672 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $86,178 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $4,551,094 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $4,921,131 |
| Net assets without donor restrictions | $7,195,658 |
| Net assets with donor restrictions | $548,330 |
| 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 | $12,665,119 |