Downstreet Housing and Community Development Inc

Nonprofit profile at a glance

EIN
222843473
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Barre, VT, USA
Phone
8024764493
Rating
89
Verdict
STRONG
Rating confidence
Moderate
Sector
Low-Income & Subsidized Rental Housing

Official website

Reported finances

Revenue
$10,418,229
Expenses
$8,507,985
Assets
$22,761,697
Liabilities
$5,647,821

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

18 people listed

Executive titles in this filing

  • KEVIN ELLIS (PRESIDENT)

Highest reported compensation

  • ANGIE HARBIN (EXECUTIVE DI): $147,154 total reported compensation
  • SCHUYLER ANDERSON (CFO): $131,538 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Downstreet strengthens the communities of central Vermont by engaging with people, providing affordable homes, and connecting people to the resources and services they need to thrive.

What it reported doing in 2024

Property operations - accounts for the rental activity and operations of the following projects: bromur(sold in 2023), brook street, good neighbors, green mountain seminary, evergreen place, foundation house, hillside, hubbard street, laurel street, limehurst mobile home park, mad river meadows, phoenix house, verdmont mobile home park, whistlestop mobile home park, and the yorra building.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Hybrid. The nonprofit split its reported program spending across 56% for direct work, and 44% for grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some related-organization disclosures are missing and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 94
  • Accountability: 95
  • Sustainability: 72
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 75.9%; rating input score 76
  • Program expense ratio: 92.7%; rating input score 93
  • Fundraising efficiency: $102.1 raised per $1 spent on fundraising; rating input score 85; 85th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Scored; rating input score 0

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 18.3%; rating input score 80; 80th percentile among comparable filings
  • Total-asset coverage ratio: 2.68; rating input score 71; 71st percentile among comparable filings
  • Liabilities to assets ratio: 0.25; rating input score 52; 52nd percentile among comparable filings
  • Officer compensation ratio: 3.3%; rating input score 66; 66th percentile among comparable filings

Growth

  • Program expense growth: 7.8% per year; rating input score 100; 60th percentile among comparable filings
  • Revenue growth: 7.3% per year; rating input score 100; 61st percentile among comparable filings
  • Asset growth: 4.5% per year; rating input score 100; 32nd percentile among comparable filings

Details

  • Where the money goes: 75.9% of revenue deployed · 92.7% of spending went to programs
  • Governance: 15 of 15 board members independent · 7 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $7.9M in reported program spending
  • Leadership: top reported pay $147K · 18 people listed
  • Highest-paid contractors: 2 contractors listed · $297K reported
  • Consistency: 37 of 37 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, and related organizations
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 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.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Transparency & Controls: Related-party transparency scored 0/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • Review — Sustainability: Liabilities to assets ratio scored 52/100.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.