Lamoille Housing Partnership Inc
- Assets
- $3.8m
- Revenue
- $3.5m
- Investments
- $0.0
- Employees
- 3
- Location
- Morrisville, VT
- Founding
- 09/1995
- Data as of
- 06/2022
- EIN
- 22-3177209
Organization Overview
Lamoille Housing Partnership Inc is located in Morrisville, VT. The organization was established in 1995. 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 06/2022, Lamoille Housing Partnership Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lamoille Housing Partnership 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 06/2022, Lamoille Housing Partnership Inc generated $3.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 51.2% each year . All expenses for the organization totaled $3.5m during the year ending 06/2022. While expenses have increased by 38.9% per year over the past 7 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
DEVELOP, REHABILITATE AND MAINTAIN SAFE, DECENT, ENERGY EFFICIENT AFFORDABLE HOUSING THROUGH RENTAL OR OWNERSHIP TO LOW AND MODERATE INCOME PEOPLE LIVING WITHIN LAMOILLE COUNTY AND THE TOWN OF HARDWICK.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROPERTY MANAGEMENT AND DEVELOPMENT - ACCOUNTS FOR ALL OPERATIONS OF THE ORGANIZATION FOR REHABILITATION AND DEVELOPMENT OF AFFORDABLE HOUSING.
PROPERTY OPERATIONS - ACCOUNTS FOR THE RENTAL ACTIVITY AND OPERATIONS FOR ALL THE ORGANIZATION'S PROJECTS. THE PROPERTY OPERATIONS INCLUDES EVERGREEN MANOR MOBILE HOME PARK (EMMHP) WHICH PROVIDES HOUSING FOR LOW INCOME INDIVIDUALS. EMMHP HAS 32 RESIDENTIAL LOTS AND IS LOCATED IN HARDWICK,VERMONT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jim Lovinsky Executive Di | Officer | 40 | $105,758 |
David Ford President | OfficerTrustee | 2 | $0 |
Davis Koier Vice Preside | OfficerTrustee | 2 | $0 |
Tess Milner Secretary | OfficerTrustee | 2 | $0 |
Jennifer Degree Treasurer | OfficerTrustee | 2 | $0 |
Stefanie Eichler Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Vermod High Performance Mfd Housing Vermod Homes | 6/29/18 | $1,398,511 |
Kings Property Maintenance Maintenance | 6/29/18 | $238,687 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $110,590 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,972,180 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,082,770 |
| Total Program Service Revenue | $452,682 |
| Investment income | $121 |
| 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 | $3,549,386 |
| 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. | $109,060 |
| Compensation of current officers, directors, key employees. | $5,453 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $125,587 |
| Pension plan accruals and contributions | $3,790 |
| Other employee benefits | $14,228 |
| Payroll taxes | $18,762 |
| Fees for services: Management | $28,942 |
| Fees for services: Legal | $2,223 |
| Fees for services: Accounting | $10,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $10,671 |
| Advertising and promotion | $11,575 |
| Office expenses | $12,071 |
| Information technology | $2,348 |
| Royalties | $0 |
| Occupancy | $193,518 |
| Travel | $252 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,309 |
| Interest | $46,075 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $93,892 |
| Insurance | $23,273 |
| All other expenses | $0 |
| Total functional expenses | $3,496,525 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $80,463 |
| Savings and temporary cash investments | $200,598 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $10,969 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $220,459 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $26,525 |
| Net Land, buildings, and equipment | $3,214,423 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $85,413 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,838,850 |
| Accounts payable and accrued expenses | $74,878 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $19,028 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,523,078 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,616,984 |
| Net assets without donor restrictions | $2,171,866 |
| Net assets with donor restrictions | $50,000 |
| 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 | $3,838,850 |
Grants Awarded
Over the last fiscal year, Lamoille Housing Partnership Inc has awarded $863,415 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
MAPLE STREET HOUSING LP PURPOSE: REHAB/ DEVELOPMENT | $561,218 |
ARTHUR'S MAIN ST HOUSING LP PURPOSE: REHAB/ DEVELOPMENT | $302,197 |