Housing Trust of Rutland County Inc

Overview

Mission

To promote safe, efficient and stable housing by transforming buildings and land into quality affordable homes, and supporting homeowners. We empower individuals and communities through education, technical assistance and financial services, fostering self-reliance and communal well-being.

What it reported doing in 2024

The organization provided affordable housing through a rental program and ground lease program.

Operating model

Revenue model
Earned-program. 85% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

Nonprofit profile at a glance

EIN
030280726
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Headquarters
Rutland, VT, USA
Phone
8027753139
Rating
83
Verdict
STRONG
Rating confidence
Standard
Sector
Housing Development, Construction, Management

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 80
  • Accountability: 91
  • Sustainability: 37
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 87.8%; rating input score 88
  • Fundraising efficiency: $2.67 raised per $1 spent on fundraising; rating input score 7; 7th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -20.7%; rating input score 7; 7th percentile among comparable filings
  • Total-asset coverage ratio: 4.32; rating input score 81; 81st percentile among comparable filings
  • Liabilities to assets ratio: 0.35; rating input score 30; 30th percentile among comparable filings
  • Officer compensation ratio: 5.5%; rating input score 50; 50th percentile among comparable filings

Growth

  • Program expense growth: 4.8% per year; rating input score 100; 38th percentile among comparable filings
  • Revenue growth: 3.7% per year; rating input score 100; 32nd percentile among comparable filings
  • Asset growth: 7% per year; rating input score 100; 45th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 87.8% of spending went to programs
  • Governance: 16 of 16 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $2.8M in reported program spending
  • Leadership: top reported pay $154K · 20 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $178K reported
  • Consistency: 35 of 35 current checks pass
  • Schedules: 7 filed schedules · includes major donors, executive pay, and related organizations
  • Filing history: 13 annual filings from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 22 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Leadership & pay

20 people listed

Highest reported compensation

  • Mary Cohen (Executive Director): $154,283 total reported compensation
  • Erika Lamb (Past Director of Finance): $23,030 total reported compensation

Source: IRS Form 990. Selected filing: FY2024.