Gilman Housing Trust Inc

Nonprofit profile at a glance

EIN
030301520
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
St Johnsbury, VT, USA
Phone
8024733925
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Low-Income & Subsidized Rental Housing

Official website

Reported finances

Revenue
$9,019,206
Expenses
$9,163,529
Assets
$29,326,908
Liabilities
$16,172,300

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

Leadership & pay

12 people listed

Executive titles in this filing

  • Tim O'Neill (President)
  • Patricia Sears (Vice President)
  • Patrick Shattuck (Executive Director)

Highest reported compensation

  • Patrick Shattuck (Executive Director): $152,542 total reported compensation
  • Diana Cazaudumec (Director of Finance and Compliance): $145,133 total reported compensation

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

Overview

Mission

To develop, own and manage affordable residential housing units and related facilities for qualified low-income families.

What it reported doing in 2024

Provides affordable housing to low-income families in northern Vermont.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 81
  • Transparency & Controls: 76
  • Accountability: 95
  • Sustainability: 45
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 93.1%; rating input score 93
  • Program expense ratio: 88.6%; rating input score 89
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • 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: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -1.6%; rating input score 28; 28th percentile among comparable filings
  • Total-asset coverage ratio: 3.2; rating input score 75; 75th percentile among comparable filings
  • Liabilities to assets ratio: 0.55; rating input score 19; 19th percentile among comparable filings
  • Officer compensation ratio: 3.2%; rating input score 67; 67th percentile among comparable filings

Growth

  • Program expense growth: 4.1% per year; rating input score 100; 34th percentile among comparable filings
  • Revenue growth: 7% per year; rating input score 100; 54th percentile among comparable filings
  • Asset growth: 2.1% per year; rating input score 100; 20th percentile among comparable filings

Details

  • Where the money goes: 93.1% of revenue deployed · 88.6% of spending went to programs
  • Governance: 9 of 9 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $8.1M in reported program spending
  • Leadership: top reported pay $153K · 12 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 34 of 34 current checks pass
  • Schedules: 6 filed schedules · includes major donors, executive pay, and related organizations
  • Filing history: 14 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 36 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.

  • High — Sustainability: Operating margin scored 28/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • High — Sustainability: Liabilities to assets ratio scored 19/100.