Civic Intelligence

Housing Initiatives Inc Rutland Housing Authority

EIN 20-1914244 • 501(c)3 • Rutland, VT

Profile

To promote and provide for the development, rehabilitation and preservation of quality affordable housing in Rutland County for low to moderate income families, the elderly and persons with disabilities.

5 Tremont StreetRutland, VT 05701

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

91st percentile

0.85x

Higher debt load relative to assets than 91% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Liabilities / Revenue

99th percentile

23.90x

Higher debt load relative to revenue than 99% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Net Margin

4th percentile

-89%

Higher net margin than 4% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Top Officer Pay

40th percentile

$0

Higher top officer pay than 40% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Asset Growth

29th percentile

-3.0%

Faster asset growth than 29% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2024 to 2025

Revenue Growth

46th percentile

5.2%

Faster revenue growth than 46% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2024 to 2025

Balance Sheet
Liabilities / Assets91st percentile

Assets

Down

$3,602,707

Down $112,188 (-3.0%) from 2024

Liabilities

Up

$3,067,422

Up $1,445 (+0.0%) from 2024

Net Assets

Down

$535,285

Down $113,633 (-18%) from 2024

Operations
Liabilities / Revenue99th percentileNet Margin4th percentile

Revenue

Up

$128,326

Up $6,293 (+5.2%) from 2024

Expenses

Up

$241,959

Up $19,127 (+8.6%) from 2024

Net Income

Down

-$113,633

Down $12,834 (-13%) from 2024

Trend Graphs

Balance Sheet Trend

Asset Growth29th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$4.0M$3.0M$2.0M$1.0M$0Assets 2013: $167,431Liabilities 2013: $150,3752013Assets 2018: $394,599Liabilities 2018: $50,264Net Assets 2018: $344,3352018Assets 2019: $538,897Liabilities 2019: $51,660Net Assets 2019: $487,2372019Assets 2020: $495,551Liabilities 2020: $1,889Net Assets 2020: $493,6622020Assets 2024: $3,714,895Liabilities 2024: $3,065,977Net Assets 2024: $648,9182024Assets 2025: $3,602,707Liabilities 2025: $3,067,422Net Assets 2025: $535,2852025

Highlighted filing

2025

Assets$3,602,707
Liabilities$3,067,422
Net Assets$535,285
Open 2025 Filing

Operations Trend

Revenue Growth46th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$300K$200K$100K$0-$100K-$200KRevenue 2013: $27,890Expenses 2013: $25,536Net Income 2013: $2,3542013Revenue 2018: $198,360Expenses 2018: $189,036Net Income 2018: $9,3242018Revenue 2019: $185,485Expenses 2019: $42,583Net Income 2019: $142,9022019Revenue 2020: $40,746Expenses 2020: $34,321Net Income 2020: $6,4252020Revenue 2024: $122,033Expenses 2024: $222,832Net Income 2024: -$100,7992024Revenue 2025: $128,326Expenses 2025: $241,959Net Income 2025: -$113,6332025

Highlighted filing

2025

Revenue$128,326
Expenses$241,959
Net Income-$113,633
Open 2025 Filing

Filings

Most recent year

2025 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$3,602,707
Liabilities
$3,067,422
Net assets
$535,285
Revenue
$128,326
Expenses
$241,959
Net income
-$113,633
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.60$3.07$0.54$0.13$0.24$0.11
2024Summary only. Only limited summary data is available for this year.$3.71$3.07$0.65$0.12$0.22$0.10
2020Detailed filing. Detailed filing data is available for this year.$0.50$0.00$0.49$0.04$0.03$0.01
2019Detailed filing. Detailed filing data is available for this year.$0.54$0.05$0.49$0.19$0.04$0.14
2018Detailed filing. Detailed filing data is available for this year.$0.39$0.05$0.34$0.20$0.19$0.01
2013Summary only. Only limited summary data is available for this year.$0.17$0.15$0.03$0.03$0.00
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Apr 1, 2024 to Mar 31, 2025
Signed
Sep 2, 2025
Return Version
2024v5.2
Gross Receipts
$128,326
Mission and Program Overview

Mission

To promote and provide for the develpoment, rehabilitation and preservation of quality affordable housing in rutland county for low to moderate income families, the elderly and persons with disabilities.

To promote and provide for the development, rehabilitation and preservation of quality affordable housing in Rutland County for low to moderate income families, the elderly and persons with disabilities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,033,671$2,914,827▼ $118,844
Cash and Non-Interest-Bearing Accounts$672,822$686,362▲ $13,540
Rtn Earn Endowment Incm Other Fnds$648,918$535,285▼ $113,633
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$3,714,895$3,602,707▼ $112,188
Other Assets Total$8,402$1,518▼ $6,884
Liabilities
Mortgage Notes Payable Secured by Investment Property$3,058,646$3,058,646→ $0
Other Liabilities$7,331$8,776▲ $1,445
Total Liabilities$3,065,977$3,067,422▲ $1,445
Net Assets / Fund Balance
Total Net Assets Fund Balance$648,918$535,285▼ $113,633
Total Liabilities and Net Assets / Fund Balance$3,714,895$3,602,707▼ $112,188

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,675,893$390,313$3,066,206
Leasehold Improvements$153,024$48,375$201,399
Land$85,910-$85,910
Compensation and Service Providers
Top Officer Pay40th percentile

Board Members and Trustees

NameTitle
Kevin S MarkowskiPresident
Elizabeth GlynnVice President
Betsy FranzoniDirector
Jessica LeblancDirector
Terranc J MoranDirector
Kevin LosoSecretary
Pamela DouglassTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$115,797
Investment Income
$12,529
Other Revenue
$0
Change in Net Assets
$-113,633
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$241,959
Total Fundraising Expense$24,198
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$71,306$35,653$11,885$118,844
Fees for Services Management$11,526$5,763$1,921$19,210
Occupancy$9,898$4,949$1,650$16,497
Insurance$8,671$4,336$1,445$14,452
Office Expenses$7,454$3,727$1,242$12,423
Fees for Services Accounting$3,900$1,950$650$6,500
Other Expenses$3,062$1,531$511$5,104
Fees for Services Other$1,699$850$283$2,832
Total Functional Expenses$145,174$72,587$24,198$241,959
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tenant Security Deposits$7,727
Escrow Deposits$834
Tenant Prepaid Rents$215
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“The 990 is compiled by the Rutland Housing Authority, (RHA), Director of Finance with the assistance of an accountant. A draft is provided to the Chairman and Secretary of the Board of Directors prior to submission.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents, Conflict of Interest Policy and Financial Statement available to the public and funders during the tax year by request.”

Part VI Section A, 8A

“Minutes are generated for all meetings and subsequently reviewed and approved by the Board of Directors. All significant Board resolutions are numbered and covered in the minutes.”

Part VI Section A, 8B

“The Executive Committee has limited authority to act on behalf of the governing body. All such actions are ratified by the full board and included in the minutes of the Board of Directors.”

Part VI Section C

“The Organization makes its governing documents, conflict of interest policy and financial statements available to the public and funders during the tax year by request.”

Filing and Contact Details

Filer

Filer Name
Housing Initiatives Inc
EIN
20-1914244
Phone
8027752926
Address
5 TREMONT STREET, RUTLAND, VT 05701

Signing Officer

Name
Kevin Loso
Title
Secretary
Signed
2025-09-02
Discuss with paid preparer
Yes

Organization Details

Formed
2004
Legal Domicile
Vt
Voting Board Members
7
Independent Board Members
7
Employees
0

Preparer

Firm
OBrien Shortle Reynolds & Sabotka
Address
54 North Main Street, Rutland, VT 05701
Preparer
Gwen Flewelling
Phone
8027738344
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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0ADMIN FEES & WORK ORDERS
IRS990/ProgramServiceRevenueGrp/Desc1DWELLING RENTAL INCOME
IRS990/ProgramServiceRevenueGrp/Desc2NONDWELLING RENTAL INCOME
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0506
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1106069
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt29222
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0506
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1106069
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt29222
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IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt013318
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0222832
IRS990/PYProgramServiceRevenueAmt0108715
IRS990/PYRevenuesLessExpensesAmt0-100799
IRS990/PYTotalExpensesAmt0222832
IRS990/PYTotalRevenueAmt0122033
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-113633
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0648918
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0535285
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt042912
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0341786
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0384698
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt012529
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt013318
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt05882
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0531
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0165
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt032425
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt0115797
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt0108715
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt0103106
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt0113191
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt050994
IRS990ScheduleA/OtherIncome170Grp/TotalAmt0491803
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.42320
IRS990ScheduleA/PublicSupportPY170Pct00.49230
IRS990ScheduleA/PublicSupportTotal170Amt0384698
IRS990ScheduleA/SubstantialContributorsTotAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0341786
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0384698
IRS990ScheduleA/TotalSupportAmt0908926
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt02675893
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0390313
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt03066206
IRS990ScheduleD/LandGrp/BookValueAmt085910
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt085910
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0153024
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt048375
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0201399
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0834
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1215
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt27727
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0ESCROW DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1TENANT PREPAID RENTS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2TENANT SECURITY DEPOSITS
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02914827
IRS990ScheduleD/TotalLiabilityAmt08776
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The 990 is compiled by the Rutland Housing Authority, (RHA), Director of Finance with the assistance of an accountant. A draft is provided to the Chairman and Secretary of the Board of Directors prior to submission.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The organization makes its governing documents, Conflict of Interest Policy and Financial Statement available to the public and funders during the tax year by request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Minutes are generated for all meetings and subsequently reviewed and approved by the Board of Directors. All significant Board resolutions are numbered and covered in the minutes.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The Executive Committee has limited authority to act on behalf of the governing body. All such actions are ratified by the full board and included in the minutes of the Board of Directors.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The Organization makes its governing documents, conflict of interest policy and financial statements available to the public and funders during the tax year by request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section C, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2PART VI SECTION A, 8A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3PART VI SECTION A, 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4PART VI SECTION C
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IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt03714895
IRS990/TotalAssetsEOYAmt03602707
IRS990/TotalAssetsGrp/BOYAmt03714895
IRS990/TotalAssetsGrp/EOYAmt03602707
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt024198
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt072587
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0145174
IRS990/TotalFunctionalExpensesGrp/TotalAmt0241959
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt03065977
IRS990/TotalLiabilitiesEOYAmt03067422
IRS990/TotalLiabilitiesGrp/BOYAmt03065977
IRS990/TotalLiabilitiesGrp/EOYAmt03067422
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0648918
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0535285
IRS990/TotalProgramServiceExpensesAmt0145174
IRS990/TotalProgramServiceRevenueAmt0115797
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0128326
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0128326
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt03714895
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt03602707
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt05 TREMONT STREET
IRS990/USAddress/CityNm0RUTLAND
IRS990/USAddress/StateAbbreviationCd0VT
IRS990/USAddress/ZIPCd005701
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true

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