Big Sky Community Housing Trust
- Assets
- $5.4m
- Revenue
- $5.9m
- Investments
- $0.0
- Employees
- 6
- Location
- Big Sky, MT
- Founding
- Data as of
- 12/2022
- EIN
- 84-3391892
Organization Overview
Big Sky Community Housing Trust, operating under the name Bscht, is located in Big Sky, MT. 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, Bscht employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bscht 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, Bscht generated $5.9m in total revenue. All expenses for the organization totaled $1.5m during the year ending 12/2022. While expenses have increased by 162.3% per year over the past 3 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
CREATE AFFORDABLE HOUSING UNITS FOR LOCAL WORKFORCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE GOOD DEEDS PROGRAM SEEKS TO PRESERVE LOCAL WORKFORCE ACCESS TO EXISTING RESIDENTIAL INVENTORY BY PURCHASING DEED RESTRICTIONS FROM HOMEBUYERS OR HOMEOWNERS. THE DEED RESTRICTION REQUIRES WORKFORCE OCCUPANCY AND PROHIBITS USE OF THE PROPERTY FOR SHORT-TERM RENTAL IN PERPETUITY. HOMEBUYERS GENERALLY UTILIZE THE FUNDS FOR DOWN PAYMENT ASSISTANCE AND CLOSING COSTS. AS OF DECEMBER 2022, SEVEN DEED RESTRICTIONS HAVE BEEN PURCHASED UNDER THE PROGRAM.
THE RENT LOCAL PROGRAM OFFERS CASH INCENTIVES TO PROPERTY OWNERS IN EXCHANGE FOR REMOVING THEIR PROPERTY FROM THE SHORT-TERM VACATION RENTAL POOL AND MAKING IT AVAILABLE FOR LONG-TERM RESIDENTIAL LEASE TO THE LOCAL WORKFORCE. A MAXIMUM RENT CAP, VERIFICATION OF QUALIFIED RESIDENT, AND MINIMUM ONE-YEAR LEASE IS REQUIRED BY THE PROGRAM. THE MAXIMUM INCENTIVE A PROPERTY OWNER MAY RECEIVE IS TWO YEARS. AS OF DECEMBER 2022, THE PROGRAM HAS ENLISTED 84 PROPERTIES TO HOUSE 193 LOCAL WORKFORCE TENANTS.
TRIPLE CREEK DEVELOPMENT MAKES TWO 3-BEDROOM SINGLE FAMILY HOMES AVAILABLE TO THE HOUSING TRUST AT A MINIMAL COST, FOR LONG-TERM LEASE TO INCOME-QUALIFIED (140% AMI) LOCAL WORK FORCE, WITH RENT SET AT 30% OF TENANTS HOUSEHOLD INCOME. NET PROCEEDS FROM THE RENTALS ARE DONATED UNRESTRICTED TO THE HOUSING TRUST.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David O'connor Executive Dir. | Officer | 40 | $83,500 |
Laura Seyfang Executive Dir. | Officer | 40 | $30,000 |
David Brown Chair | OfficerTrustee | 1 | $0 |
Rick Simkins Vice Chair | OfficerTrustee | 1 | $0 |
Kevin Hinkle Treasurer | OfficerTrustee | 1 | $0 |
Jennifer Boutsianis Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,757,092 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,991,299 |
| Noncash contributions included in lines 1a–1f | $2,094,114 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,748,391 |
| Total Program Service Revenue | $113,991 |
| Investment income | $27 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$9,356 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,878,436 |
| 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. | $119,779 |
| Compensation of current officers, directors, key employees. | $42,144 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $90,821 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $15,932 |
| Payroll taxes | $16,405 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $44,860 |
| Advertising and promotion | $2,010 |
| Office expenses | $0 |
| Information technology | $8,536 |
| Royalties | $0 |
| Occupancy | $3,200 |
| Travel | $384 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $24,064 |
| Total functional expenses | $1,532,447 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $608,167 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $31,887 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $849,750 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $54,901 |
| Net Land, buildings, and equipment | $3,301,994 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $516,659 |
| Total assets | $5,363,358 |
| Accounts payable and accrued expenses | $13,590 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $46,791 |
| Total liabilities | $60,381 |
| Net assets without donor restrictions | $4,370,345 |
| Net assets with donor restrictions | $932,632 |
| 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 | $5,363,358 |