Civic Intelligence

Windham & Windsor Housing Trust Inc.

990 • Fiscal year 2022 • EIN 22-2878487

Jan 01, 2022 to Dec 31, 2022 • Filed on Oct 05, 2023

68 Birge StreetBrattleboro, VT 05301

(802) 254-4604

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

24th percentile

0.03x

Higher debt load relative to assets than 24% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Liabilities / Revenue

40th percentile

0.15x

Higher debt load relative to revenue than 40% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Net Margin

72nd percentile

20%

Higher net margin than 72% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Top Officer Pay

34th percentile

$135,364

Higher top officer pay than 34% of similar nonprofits.

Top officer pay equals 2.7% of source-year revenue.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Asset Growth

58th percentile

3.4%

Faster asset growth than 58% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Revenue Growth

60th percentile

10%

Faster revenue growth than 60% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Assets

Up

$24,594,627

Up $815,933 (+3.4%) from 2021

Net Assets

Up

$23,838,279

Up $1,023,892 (+4.5%) from 2021

Liabilities

Down

$756,348

Down $207,959 (-22%) from 2021

Revenue

Up

$5,094,674

Up $478,732 (+10%) from 2021

Expenses

Down

$4,070,782

Down $234,018 (-5.4%) from 2021

Net Income

Up

$1,023,892

Up $712,750 (+229%) from 2021

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$60M$40M$20M$0Assets 2011: $47,576,927Liabilities 2011: $20,896,861Net Assets 2011: $26,680,0662011Assets 2012: $49,631,107Liabilities 2012: $22,195,259Net Assets 2012: $27,435,8482012Assets 2013: $50,523,212Liabilities 2013: $21,927,513Net Assets 2013: $28,595,6992013Assets 2014: $55,473,568Liabilities 2014: $27,390,932Net Assets 2014: $28,082,6362014Assets 2015: $15,865,332Liabilities 2015: $614,259Net Assets 2015: $15,251,0732015Assets 2016: $16,645,305Liabilities 2016: $898,080Net Assets 2016: $15,747,2252016Assets 2017: $17,272,457Liabilities 2017: $654,991Net Assets 2017: $16,617,4662017Assets 2018: $19,323,030Liabilities 2018: $622,008Net Assets 2018: $18,701,0222018Assets 2019: $19,816,127Liabilities 2019: $657,600Net Assets 2019: $19,158,5272019Assets 2020: $24,322,130Liabilities 2020: $1,818,885Net Assets 2020: $22,503,2452020Assets 2021: $23,778,694Liabilities 2021: $964,307Net Assets 2021: $22,814,3872021Assets 2022: $24,594,627Liabilities 2022: $756,348Net Assets 2022: $23,838,2792022Assets 2023: $26,446,261Liabilities 2023: $1,103,170Net Assets 2023: $25,343,0912023Assets 2024: $28,069,016Liabilities 2024: $1,129,596Net Assets 2024: $26,939,4202024

Highlighted filing

2022

Assets$24,594,627
Liabilities$756,348
Net Assets$23,838,279

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$10M$5.0M$0-$5.0MRevenue 2011: $3,680,900Expenses 2011: $4,650,779Net Income 2011: -$969,8792011Expenses 2012: $4,979,4492012Revenue 2013: $5,050,118Expenses 2013: $5,160,078Net Income 2013: -$109,9602013Revenue 2014: $4,054,621Expenses 2014: $5,431,184Net Income 2014: -$1,376,5632014Revenue 2015: $3,479,706Expenses 2015: $2,336,205Net Income 2015: $1,143,5012015Revenue 2016: $2,540,987Expenses 2016: $2,044,835Net Income 2016: $496,1522016Revenue 2017: $2,965,236Expenses 2017: $2,063,975Net Income 2017: $901,2612017Revenue 2018: $4,501,272Expenses 2018: $2,595,927Net Income 2018: $1,905,3452018Revenue 2019: $2,693,879Expenses 2019: $2,612,181Net Income 2019: $81,6982019Revenue 2020: $6,653,193Expenses 2020: $3,252,223Net Income 2020: $3,400,9702020Revenue 2021: $4,615,942Expenses 2021: $4,304,800Net Income 2021: $311,1422021Revenue 2022: $5,094,674Expenses 2022: $4,070,782Net Income 2022: $1,023,8922022Revenue 2023: $6,313,738Expenses 2023: $4,808,926Net Income 2023: $1,504,8122023Revenue 2024: $7,674,551Expenses 2024: $6,078,222Net Income 2024: $1,596,3292024

Highlighted filing

2022

Revenue$5,094,674
Expenses$4,070,782
Net Income$1,023,892
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Oct 5, 2023
Return Version
2022v5.0
Gross Receipts
$5,318,099
Mission and Program Overview

Mission

The windham & windsor housing trust strengthens the communities of southeast vermont through the development and stewardship of permanently affordable housing and through ongoing support and advocacy for its residents.

Windham & windsor housing trust (wwht) strengthens the communities of southeast vermont through the development and stewardship of permanently affordable housing and through ongoing support and advocacy for its residents.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$7,632,196$7,672,827▲ $40,631
Land, Buildings, and Equipment, Net$7,206,981$7,294,245▲ $87,264
Investments Program Related$4,192,306$4,281,203▲ $88,897
Savings and Temporary Cash Investments$2,780,749$2,860,730▲ $79,981
Pledges and Grants Receivable$299,064$456,749▲ $157,685
Cash and Non-Interest-Bearing Accounts$175,762$240,400▲ $64,638
Accounts Receivable$208,643$157,185▼ $51,458
Prepaid Expenses and Deferred Charges$27,817$30,686▲ $2,869
Inventories for Sale or Use$11,868$15,590▲ $3,722
Total Assets$23,778,694$24,594,627▲ $815,933
Other Assets Total$1,243,308$1,585,012▲ $341,704
Liabilities
Accounts Payable and Accrued Expenses$214,041$258,190▲ $44,149
Mortgage Notes Payable Secured by Investment Property$559,714$247,304▼ $312,410
Other Liabilities-$161,091-
Deferred Revenue$120,881--
Unsecured Notes Loans Payable$69,671$74,645▲ $4,974
Escrow Account Liability-$15,118-
Total Liabilities$964,307$756,348▼ $207,959
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$16,175,579$17,154,394▲ $978,815
Net Assets With Donor Restrictions$6,638,808$6,683,885▲ $45,077
Total Net Assets Fund Balance$22,814,387$23,838,279▲ $1,023,892
Total Liabilities and Net Assets / Fund Balance$23,778,694$24,594,627▲ $815,933

Asset Categories

AssetBook ValueDepreciationBasis
Land$4,280,733-$4,280,733
Buildings$2,447,482$606,161$3,053,643
Other Land Buildings$283,684$194,878$478,562
Equipment$105,701$185,864$291,565
Leasehold Improvements$26,497$15,868$42,365
Investment Program Related Org$4,281,203--
Other Assets Org$48,100--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Elizabeth BridgewaterExecutive DiFT$115,240$20,124$135,364
Revenue and Support

Revenue Composition

Contributions and Grants
$3,332,322
Program Service Revenue
$1,655,029
Investment Income
$67,047
Other Revenue
$40,276
All Other Contributions
$1,114,792
Change in Net Assets
$1,023,892

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded3$50,186Fair Market Value
Total Noncash Contributions3$50,186-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,215,670
Other Expenses$1,321,810
Grants and Similar Amounts Paid$533,302
Total Fundraising Expense$98,603
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,477,855$140,077$33,084$1,651,016
Grants to Domestic Individuals$533,302--$533,302
Occupancy$308,870$1,979$1,765$312,614
Other Employee Benefits$242,834$26,325$6,809$275,968
Depreciation Depletion$134,156$13,980-$148,136
Current Officers, Directors, Trustees, and Key Employees$57,801$70,389$7,175$135,365
Payroll Taxes$113,456$14,439$2,754$130,649
Fees for Services Other$113,781--$113,781
Office Expenses$90,002$14,579$7,050$111,631
Other Expenses$49,845$8,378$35,274$35,274
Insurance$16,969$16,828-$33,797
Fees for Services Accounting-$22,800-$22,800
Pension Plan Contributions$22,372-$300$22,672
Travel$15,425$1,178$740$17,343
Fees for Services Legal-$12,317-$12,317
All Other Expenses$3,171$6,067$2,212$11,450
Interest$10,292--$10,292
Conferences and Meetings$6,781$1,726$214$8,721
Advertising$5,631$931$1,219$7,781
Total Functional Expenses$3,620,186$351,993$98,603$4,070,782
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Lease Liability$161,091
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

There are two types of membership: general members and resident members. General members include any person 16 years of age or over who has paid the current minimum annual fee as set by the board of directors. Resident members include all members of any household living in property owned, managed, or otherwise in stewardship of the windham & windsor housing trust who are age 16 and older. This shall include single-family homeowners lease land owned by wwht, owners of condominium units or homes who have granted wwht a housing subsidy covenant, and tenants in rental units owned by wwht or by a limited partnership of which wwht or any subsidiary of wwht is a general partner.

Form 990, Page 6, Part VI, Line 7A

Members have the right to nominate and elect or ratify members of the board of directors.

Form 990, Page 6, Part VI, Line 7B

All members have the right to speak and to cast one vote on all matters properly put before the membership for consideration. Generally, general members and resident members shall have the same rights and shall vote as a single class.

Form 990, Page 6, Part VI, Line 11B

The audited financial statements are presented to the board for approval. The 990 is reviewed by the executive director, the finance director and the treasurer prior to being e-mailed to the board for their final approval.

Form 990, Page 6, Part VI, Line 12C

Generally, the organization relies on each board member to self-disclose any new conflicts of interest that may have arisen after the annual survey is completed. In other cases, if a known relationship is in place, the board chair may remind a board member that they need to recuse themselves from a vote, when appropriate.

Form 990, Page 6, Part VI, Line 15A

The executive committee performs an annual evaluation for the executive director and determines the compensation for the next year.

Form 990, Page 6, Part VI, Line 19

The 990 is available on publicly accessible websites. Financial statements are published in the annual report and policy documents are available upon request.

Filing and Contact Details

Filer

Filer Name
Windham & Windsor Housing
EIN
22-2878487
Phone
8022544604
Address
68 BIRGE STREET, BRATTLEBORO, VT 05301

Signing Officer

Name
Elizabeth Bridgewater
Title
Executive Director
Phone
8022544604
Signed
2023-10-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Elizabeth Bridgewater
Formed
1987
Legal Domicile
Vt
Voting Board Members
14
Independent Board Members
14
Employees
39
Volunteers
27

Preparer

Firm
Jmm & Associates Pc
Address
463 MOUNTAIN VIEW DRIVE SUITE 403, COLCHESTER, VT 05446
Preparer
Randall L Sargent CPA
Phone
8026555665
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

Windham & windsor housing trust (wwht)strengthens the communities of southeast vermont through the development and stewardship of permanently affordable housing and through ongoing support and advocacy for its residents.

Form 990, Page 2, Part III, Line 2

Windham & windsor housing trust (wwht)added the sash 4 all program in 2022.

Form 990, Page 2, Part III, Line 4B

Property management: accounts for all activity relating to leasing and maintaining rental housing units. In 2022, our buildings and tenant documentation successfully passed all federal and state agency monitoring inspections. The property management department hired an assistant property manager to increase staff capacity. In 2022, the pilot program sash for all (support and services at home for all) was launched with two new staff, the sash community health nurse and the sash for all coordinator. Our team works with participants to provide a broad and flexible spectrum of support and resources within the home to empower participants to achieve goals they have set around health and wellness. These programs providecritical services to our residents as they navigated the shifting support landscape as the pandemic began subsiding.

Form 990, Page 2, Part III, Line 4D

Homeownership: accounts for all activity relating to facilitating the ownership & stewardship of single family homes, facilitating home purchase and improvement loans and providing hud certified housing counseling services to local homebuyers and homeowners through the community land trust model and facilitating grants to multifamily property owners to make health and safety repairs to apartments. In 2022, the homeownership program successfully passed all federal and state monitoring inspections. Support and services at home (sash): accounts for all activity related to providing a system of at-home support and services for older adults and people with disabilities to remain in their homes throughout their lives. The sash coordinator and part time wellness nurse helped many residents access medical services, reduce isolation, and stay connected to their community over the last year. Support and services at home for all (sfa): provides a broad and flexible spectrum of support and resources within the home to empower individuals and families to achieve their health and wellness goals while maintaining housing stability. The sash for all coordinator and part time wellness nurse assisted many residents with mental and physical health goals, financial assistance support, food security and help reduce social isolation.

Financial Statement Notes

Schedule D, Page 3, Part X

Wwht believes that it has appropriate support for any tax positions taken and, as such, does not have any uncertain tax positions that are material to the financial statements.

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IRS990/ActivityOrMissionDesc0WINDHAM & WINDSOR HOUSING TRUST (WWHT) STRENGTHENS THE COMMUNITIES OF SOUTHEAST VERMONT THROUGH THE DEVELOPMENT AND STEWARDSHIP OF PERMANENTLY AFFORDABLE HOUSING AND THROUGH ONGOING SUPPORT AND ADVOCACY FOR ITS RESIDENTS.
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IRS990/MissionDesc0WINDHAM & WINDSOR HOUSING TRUST (WWHT)STRENGTHENS THE COMMUNITIES OF SOUTHEAST VERMONT THROUGH THE DEVELOPMENT AND STEWARDSHIP OF PERMANENTLY AFFORDABLE HOUSING AND THROUGH ONGOING SUPPORT AND ADVOCACY FOR ITS RESIDENTS.
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IRS990/PrincipalOfficerNm0ELIZABETH BRIDGEWATER
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IRS990/ProgramServiceRevenueGrp/Desc2MAINTENANCE PAYROLL INCOME
IRS990/ProgramServiceRevenueGrp/Desc3DEVELOPMENT FEE INCOME
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1347971
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IRS990/ProgSrvcAccomActy2Grp/Desc0PROPERTY MANAGEMENT: ACCOUNTS FOR ALL ACTIVITY RELATING TO LEASING AND MAINTAINING RENTAL HOUSING UNITS. IN 2022, OUR BUILDINGS AND TENANT DOCUMENTATION SUCCESSFULLY PASSED ALL FEDERAL AND STATE AGENCY MONITORING INSPECTIONS. THE PROPERTY MANAGEMENT DEPARTMENT HIRED AN ASSISTANT PROPERTY MANAGER TO INCREASE STAFF CAPACITY. IN 2022, THE PILOT PROGRAM SASH FOR ALL (SUPPORT AND SERVICES AT HOME FOR ALL) WAS LAUNCHED WITH TWO NEW STAFF, THE SASH COMMUNITY HEALTH NURSE AND THE SASH FOR ALL COORDINATOR. OUR TEAM WORKS WITH PARTICIPANTS TO PROVIDE A BROAD AND FLEXIBLE SPECTRUM OF SUPPORT AND RESOURCES WITHIN THE HOME TO EMPOWER PARTICIPANTS TO ACHIEVE GOALS THEY HAVE SET AROUND HEALTH AND WELLNESS. THESE PROGRAMS PROVIDECRITICAL SERVICES TO OUR RESIDENTS AS THEY NAVIGATED THE SHIFTING SUPPORT LANDSCAPE AS THE PANDEMIC BEGAN SUBSIDING.
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IRS990/ProgSrvcAccomActy2Grp/RevenueAmt0854738
IRS990/ProgSrvcAccomActy3Grp/Desc0HOUSING DEVELOPMENT: ACCOUNTS FOR ALL ACTIVITY RELATING TO ACQUISITION AND REHABILITATION OR CONSTRUCTION OF HOUSING UNITS. IN 2022 WWHT STARTED CONSTRUCTION ON THE BELLOWS FALLS GARAGE PROJECT (27 UNITS OF NEW CONSTRUCTION) AND THE CC&P REHABILITATION (26 UNITS OF REHABILITATION). ADDITIONALLY, FUNDING WAS SECURED FOR BOTH THE CENTRAL & MAIN DEVELOPMENT (25 UNITS) AND THE ALICE HOLWAY DRIVE DEVELOPMENT (25 UNITS).
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IRS990/ProgSrvcAccomActy3Grp/RevenueAmt0262365
IRS990/ProgSrvcAccomActyOtherGrp/Desc0HOMEOWNERSHIP: ACCOUNTS FOR ALL ACTIVITY RELATING TO FACILITATING THE OWNERSHIP & STEWARDSHIP OF SINGLE FAMILY HOMES, FACILITATING HOME PURCHASE AND IMPROVEMENT LOANS AND PROVIDING HUD CERTIFIED HOUSING COUNSELING SERVICES TO LOCAL HOMEBUYERS AND HOMEOWNERS THROUGH THE COMMUNITY LAND TRUST MODEL AND FACILITATING GRANTS TO MULTIFAMILY PROPERTY OWNERS TO MAKE HEALTH AND SAFETY REPAIRS TO APARTMENTS. IN 2022, THE HOMEOWNERSHIP PROGRAM SUCCESSFULLY PASSED ALL FEDERAL AND STATE MONITORING INSPECTIONS. SUPPORT AND SERVICES AT HOME (SASH): ACCOUNTS FOR ALL ACTIVITY RELATED TO PROVIDING A SYSTEM OF AT-HOME SUPPORT AND SERVICES FOR OLDER ADULTS AND PEOPLE WITH DISABILITIES TO REMAIN IN THEIR HOMES THROUGHOUT THEIR LIVES. THE SASH COORDINATOR AND PART TIME WELLNESS NURSE HELPED MANY RESIDENTS ACCESS MEDICAL SERVICES, REDUCE ISOLATION, AND STAY CONNECTED TO THEIR COMMUNITY OVER THE LAST YEAR. SUPPORT AND SERVICES AT HOME FOR ALL (SFA): PROVIDES A BROAD AND FLEXIBLE SPECTRUM OF SUPPORT AND RESOURCES WITHIN THE HOME TO EMPOWER INDIVIDUALS AND FAMILIES TO ACHIEVE THEIR HEALTH AND WELLNESS GOALS WHILE MAINTAINING HOUSING STABILITY. THE SASH FOR ALL COORDINATOR AND PART TIME WELLNESS NURSE ASSISTED MANY RESIDENTS WITH MENTAL AND PHYSICAL HEALTH GOALS, FINANCIAL ASSISTANCE SUPPORT, FOOD SECURITY AND HELP REDUCE SOCIAL ISOLATION.
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$28.1$1.13$26.9$7.67$6.08$1.60
2023Detailed filing. Detailed filing data is available for this year.$26.4$1.10$25.3$6.31$4.81$1.50
2022Detailed filing. Detailed filing data is available for this year.$24.6$0.76$23.8$5.09$4.07$1.02
2021Detailed filing. Detailed filing data is available for this year.$23.8$0.96$22.8$4.62$4.30$0.31
2020Detailed filing. Detailed filing data is available for this year.$24.3$1.82$22.5$6.65$3.25$3.40
2019Detailed filing. Detailed filing data is available for this year.$19.8$0.66$19.2$2.69$2.61$0.08
2018Detailed filing. Detailed filing data is available for this year.$19.3$0.62$18.7$4.50$2.60$1.91
2017Detailed filing. Detailed filing data is available for this year.$17.3$0.65$16.6$2.97$2.06$0.90
2016Detailed filing. Detailed filing data is available for this year.$16.6$0.90$15.7$2.54$2.04$0.50
2015Detailed filing. Detailed filing data is available for this year.$15.9$0.61$15.3$3.48$2.34$1.14
2014Detailed filing. Detailed filing data is available for this year.$55.5$27.4$28.1$4.05$5.43$1.38
2013Detailed filing. Detailed filing data is available for this year.$50.5$21.9$28.6$5.05$5.16$0.11
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$49.6$22.2$27.4$4.98
2011Summary only. Only limited summary data is available for this year.$47.6$20.9$26.7$3.68$4.65$0.97