Civic Intelligence

Downtown Development Corporation

EIN 23-7384193 • 501(c)3 • Rutland, VT

Pub. 78 Eligible

Profile

Ownership and management of supportive housing for the elderly.

28 Center StreetRutland, VT 05701

n/A

Siviq Scores

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

Liabilities / Assets

93rd percentile

0.98x

Higher debt load relative to assets than 93% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2022

Liabilities / Revenue

94th percentile

1.60x

Higher debt load relative to revenue than 94% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2022

Net Margin

65th percentile

13%

Higher net margin than 65% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2022

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

30th percentile

-3.9%

Faster asset growth than 30% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Revenue Growth

43rd percentile

2.9%

Faster revenue growth than 43% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Assets

Up

$849,086

Up $2,986 (+0.4%) from 2024

Liabilities

Down

$536,061

Down $96,638 (-15%) from 2024

Net Assets

Up

$313,025

Up $99,624 (+47%) from 2024

Revenue

Up

$585,988

Up $29,585 (+5.3%) from 2024

Expenses

Up

$486,364

Up $31,670 (+7.0%) from 2024

Net Income

Down

$99,624

Down $2,085 (-2.0%) from 2024

Trend Graphs

Balance Sheet Trend

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

$2.0M$1.0M$0-$1.0MAssets 2010: $1,342,665Liabilities 2010: $1,685,225Net Assets 2010: -$342,5602010Assets 2011: $1,301,138Liabilities 2011: $1,636,997Net Assets 2011: -$335,8592011Assets 2012: $1,264,343Liabilities 2012: $1,589,170Net Assets 2012: -$324,8272012Assets 2018: $1,114,618Liabilities 2018: $1,188,670Net Assets 2018: -$74,0522018Assets 2019: $1,092,183Liabilities 2019: $1,102,391Net Assets 2019: -$10,2082019Assets 2020: $906,859Liabilities 2020: $1,017,825Net Assets 2020: -$110,9662020Assets 2021: $884,421Liabilities 2021: $935,221Net Assets 2021: -$50,8002021Assets 2022: $849,758Liabilities 2022: $831,216Net Assets 2022: $18,5422022Assets 2023: $850,696Liabilities 2023: $739,004Net Assets 2023: $111,6922023Assets 2024: $846,100Liabilities 2024: $632,699Net Assets 2024: $213,4012024Assets 2025: $849,086Liabilities 2025: $536,061Net Assets 2025: $313,0252025

Highlighted filing

2025

Assets$849,086
Liabilities$536,061
Net Assets$313,025

Operations Trend

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

$600K$400K$200K$0-$200KExpenses 2010: $461,2982010Expenses 2011: $452,4472011Expenses 2012: $453,9452012Revenue 2018: $494,689Expenses 2018: $447,767Net Income 2018: $46,9222018Revenue 2019: $503,952Expenses 2019: $440,108Net Income 2019: $63,8442019Revenue 2020: $352,080Expenses 2020: $452,838Net Income 2020: -$100,7582020Revenue 2021: $505,339Expenses 2021: $445,173Net Income 2021: $60,1662021Revenue 2022: $519,893Expenses 2022: $450,551Net Income 2022: $69,3422022Revenue 2023: $545,548Expenses 2023: $452,398Net Income 2023: $93,1502023Revenue 2024: $556,403Expenses 2024: $454,694Net Income 2024: $101,7092024Revenue 2025: $585,988Expenses 2025: $486,364Net Income 2025: $99,6242025

Highlighted filing

2025

Revenue$585,988
Expenses$486,364
Net Income$99,624

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2025 to Dec 31, 2025
Signed
Apr 1, 2026
Return Version
2025v4.0
Gross Receipts
$585,988
Mission and Program Overview

Mission

Ownership and management of supportive housing for the elderly.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$614,927$592,754▼ $22,173
Savings and Temporary Cash Investments$98,025$112,817▲ $14,792
Cash and Non-Interest-Bearing Accounts$92,861$106,788▲ $13,927
Prepaid Expenses and Deferred Charges$13,212$13,835▲ $623
Accounts Receivable$2,002$149▼ $1,853
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-
Total Assets$846,100$849,086▲ $2,986
Other Assets Total$25,073$22,743▼ $2,330
Liabilities
Mortgage Notes Payable Secured by Investment Property$589,193$482,930▼ $106,263
Accounts Payable and Accrued Expenses$22,362$32,382▲ $10,020
Other Liabilities$20,780$20,278▼ $502
Deferred Revenue$364$471▲ $107
Total Liabilities$632,699$536,061▼ $96,638
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$213,401$313,025▲ $99,624
Total Net Assets Fund Balance$213,401$313,025▲ $99,624
Total Liabilities and Net Assets / Fund Balance$846,100$849,086▲ $2,986

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$280,278$2,039,888$2,320,166
Land$303,212-$303,212
Other Land Buildings$9,264$158,134$167,398
Leasehold Improvements-$75,997$75,997
Compensation and Service Providers

Board Members and Trustees

NameTitle
Jadziah DeRosiaPresident
Joe KrausVice President
Andy PaluchMember
Casey McNeilMember
Eddie RyanTreasurer/Sec

Highest Paid Contractors

ContractorServicesLocationCompensation
The Fucci CompanyManagement Company6 REGENCY MANOR STE 1, Rutland, VT 05701$172,347
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$573,416
Investment Income
$47
Other Revenue
$12,525
Change in Net Assets
$99,624
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$486,364
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other-$45,038-$45,038
Fees for Services Management-$36,984-$36,984
Other Expenses$28,500--$28,500
Depreciation Depletion$27,275--$27,275
Insurance$22,806--$22,806
Interest$19,949--$19,949
All Other Expenses$8,306--$8,306
Fees for Services Accounting-$7,900-$7,900
Office Expenses-$5,626-$5,626
Fees for Services Legal-$500-$500
Advertising-$33-$33
Total Functional Expenses$390,283$96,081$0$486,364
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$18,769
Accrued Interest Mortgage$1,509
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Audit committee
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

Property management and compliance duties were outsourced to the fucci company during the year. All financial and compliance reporting is overseen by the management company and mitigating oversight by the board of directors.

Form 990, Part VI, Section A, Line 8B

The organization does not currently document its governing board meetings.

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

A copy of the 990 draft was provided to the board members for review prior to finalizing and filing. The board members review the 990 and make any necessary changes prior to filing.

Form 990, Part VI, Section C, Line 19

No documents available to the public.

Filing and Contact Details

Filer

Filer Name
Downtown Development Corporation
EIN
23-7384193
Phone
8027739380
Address
28 Center Street, RUTLAND, VT 05701

Signing Officer

Name
Eddie Ryan
Title
Treasurer/Secretary
Signed
2026-04-01
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Eddie Ryan
Formed
1974
Legal Domicile
Vt
Voting Board Members
4
Independent Board Members
4
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/SavingsAndTempCashInvstGrp/EOYAmt0112817
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0341015
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0321242
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0327771
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0315292
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0307344
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt01612664
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt047
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt043
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt043
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt042
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt030
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0205
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt01110454
IRS990ScheduleA/OtherIncome170Grp/TotalAmt00
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.99990
IRS990ScheduleA/PublicSupportPY170Pct00.99990
IRS990ScheduleA/PublicSupportTotal170Amt01612664
IRS990ScheduleA/SubstantialContributorsTotAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0341015
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0321242
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0327771
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0315292
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0307344
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01612664
IRS990ScheduleA/TotalSupportAmt01612869
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0280278
IRS990ScheduleD/BuildingsGrp/DepreciationAmt02039888
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt02320166
IRS990ScheduleD/LandGrp/BookValueAmt0303212
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0303212
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt075997
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt075997
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt09264
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0158134
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0167398
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01509
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt118769
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0ACCRUED INTEREST MORTGAGE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1TENANT SECURITY DEPOSITS
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0592754
IRS990ScheduleD/TotalLiabilityAmt020278
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0PROPERTY MANAGEMENT AND COMPLIANCE DUTIES WERE OUTSOURCED TO THE FUCCI COMPANY DURING THE YEAR. ALL FINANCIAL AND COMPLIANCE REPORTING IS OVERSEEN BY THE MANAGEMENT COMPANY AND MITIGATING OVERSIGHT BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION DOES NOT CURRENTLY DOCUMENT ITS GOVERNING BOARD MEETINGS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2A COPY OF THE 990 DRAFT WAS PROVIDED TO THE BOARD MEMBERS FOR REVIEW PRIOR TO FINALIZING AND FILING. THE BOARD MEMBERS REVIEW THE 990 AND MAKE ANY NECESSARY CHANGES PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3No documents available to the public.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, Line 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section A, Line 8b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, Line 19
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0846100
IRS990/TotalAssetsEOYAmt0849086
IRS990/TotalAssetsGrp/BOYAmt0846100
IRS990/TotalAssetsGrp/EOYAmt0849086
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt096081
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0390283
IRS990/TotalFunctionalExpensesGrp/TotalAmt0486364
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0632699
IRS990/TotalLiabilitiesEOYAmt0536061
IRS990/TotalLiabilitiesGrp/BOYAmt0632699
IRS990/TotalLiabilitiesGrp/EOYAmt0536061
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0213401
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0313025
IRS990/TotalProgramServiceExpensesAmt0390283
IRS990/TotalProgramServiceRevenueAmt0573416
IRS990/TotalRevenueGrp/ExclusionAmt047
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0585941
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0585988
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0846100
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0849086
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0EDDIE RYAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Treasurer/Secretary
ReturnHeader/BusinessOfficerGrp/SignatureDt02026-04-01
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0DOWNTOWN DEVELOPMENT CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0DOWN
ReturnHeader/Filer/EIN0237384193
ReturnHeader/Filer/PhoneNum08027739380
ReturnHeader/Filer/USAddress/AddressLine1Txt028 Center Street
ReturnHeader/Filer/USAddress/CityNm0RUTLAND
ReturnHeader/Filer/USAddress/StateAbbreviationCd0VT
ReturnHeader/Filer/USAddress/ZIPCd005701
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0030310172
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0OBrien Shortle Reynolds & Sabotka
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt054 North Main Street
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Rutland
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0VT
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd005701
ReturnHeader/PreparerPersonGrp/PhoneNum08027738344
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Gwen Flewelling
ReturnHeader/ReturnTs02026-04-01T06:22:11-07:00

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