Evernorth
- Assets
- $26.0m
- Revenue
- $9.3m
- Investments
- $0.0
- Employees
- 55
- Location
- Burlington, VT
- Founding
- Data as of
- 12/2022
- EIN
- 85-1409438
Organization Overview
Evernorth is located in Burlington, VT. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, under the broad grouping of Housing & Shelter and related organizations. As of 12/2022, Evernorth employed 55 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Evernorth is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PRODUCE PERMANENTLY AFFORDABLE HOUSING AND ENABLE INVESTMENTS IN ECONOMIC AND COMMUNITY DEVELOPMENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOSTERING LOW-INCOME HOUSING, AND COMMUNITY DEVELOPMENT, ALLEVIATION AND PREVENTATION OF COMMUNITY DETERIORATION THROUGH THE PRODUCTION AND REHABILITATION OF AFFORDABLE HOUSING AS PROVIDED IN INTERNAL REVENUE SERVICE REVENUE PROCEDURE 96-32 (INLUDING SPECIFICALLY THE REQUIREMENTS THAT MUST BE SATISFIED TO QUALIFY UNDER THE SAFE HARBOR OF "FACTS AND CIRCUMSTANCES" TESTS).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Vogel Co-Chair | OfficerTrustee | 1 | $0 |
Cullen Ryan Co-Chair | OfficerTrustee | 1 | $0 |
Charlie Baker Director | Trustee | 1 | $0 |
Amy Demetrowitz Director | Trustee | 1 | $0 |
Walt Greiner Director | Trustee | 1 | $0 |
Karyn Hale Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
100 Bank Llc Real Estate Rental | 12/30/22 | $186,978 |
Nolan Sheehan Patten Llp Legal Services | 12/30/22 | $518,587 |
Po Square Building Llc Real Estate Rental | 12/30/22 | $120,373 |
Cohn Reznick Llp Consulting | 12/30/22 | $160,800 |
Otis Atwell Accounting Services | 12/30/22 | $119,175 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $114,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $114,000 |
| Total Program Service Revenue | $8,887,520 |
| Investment income | $179,291 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $82,119 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,285,260 |
| 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. | $663,586 |
| Compensation of current officers, directors, key employees. | $53,087 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,338,855 |
| Pension plan accruals and contributions | $164,093 |
| Other employee benefits | $607,225 |
| Payroll taxes | $367,428 |
| Fees for services: Management | $34,369 |
| Fees for services: Legal | $73,011 |
| Fees for services: Accounting | $206,229 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $15,893 |
| Fees for services: Other | $279,645 |
| Advertising and promotion | $0 |
| Office expenses | $143,118 |
| Information technology | $146,598 |
| Royalties | $0 |
| Occupancy | $356,827 |
| Travel | $101,334 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $134,245 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $101,282 |
| Insurance | $89,604 |
| All other expenses | $349,125 |
| Total functional expenses | $8,351,216 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,413,647 |
| Savings and temporary cash investments | $2,035,218 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $10,257,922 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,180,824 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $94,534 |
| Net Land, buildings, and equipment | $538,045 |
| Investments—publicly traded securities | $5,707,748 |
| Investments—other securities | $0 |
| Investments—program-related | $1,642,621 |
| Intangible assets | $0 |
| Other assets | $1,104,613 |
| Total assets | $25,975,172 |
| Accounts payable and accrued expenses | $694,466 |
| Grants payable | $0 |
| Deferred revenue | $6,823,761 |
| 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 | $500,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,558,933 |
| Total liabilities | $9,577,160 |
| Net assets without donor restrictions | $16,195,735 |
| Net assets with donor restrictions | $202,277 |
| 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 | $25,975,172 |