Civic Intelligence

Gunnison Valley Housing Foundation

990 • Fiscal year 2022 • EIN 27-2032108

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 02, 2023

PO Box 1742Gunnison, CO 81230

(970) 901-9032

Siviq Scores

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

Liabilities / Assets

28th percentile

0.01x

Higher debt load relative to assets than 28% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

40th percentile

0.05x

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

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

62nd percentile

14%

Higher net margin than 62% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

49th percentile

$54,167

Higher top officer pay than 49% of similar nonprofits.

Top officer pay equals 10.0% of source-year revenue.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

23rd percentile

-7.8%

Faster asset growth than 23% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

97th percentile

282%

Faster revenue growth than 97% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Assets

Down

$3,520,333

Down $297,377 (-7.8%) from 2021

Net Assets

Down

$3,495,687

Down $320,023 (-8.4%) from 2021

Liabilities

Up

$24,646

Up $22,646 (+1132%) from 2021

Revenue

Up

$542,521

Up $400,365 (+282%) from 2021

Expenses

Up

$468,349

Up $217,407 (+87%) from 2021

Net Income

Up

$74,172

Up $182,958 (+168%) from 2021

Historical Trend

Balance Sheet Trend

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2017: $984,833Liabilities 2017: $0Net Assets 2017: $984,8332017Assets 2018: $916,133Liabilities 2018: $0Net Assets 2018: $916,1332018Assets 2019: $948,722Liabilities 2019: $0Net Assets 2019: $948,7222019Assets 2020: $3,669,583Liabilities 2020: $3,519Net Assets 2020: $3,666,0642020Assets 2021: $3,817,710Liabilities 2021: $2,000Net Assets 2021: $3,815,7102021Assets 2022: $3,520,333Liabilities 2022: $24,646Net Assets 2022: $3,495,6872022Assets 2023: $3,560,717Liabilities 2023: $38,047Net Assets 2023: $3,522,6702023Assets 2024: $3,499,547Liabilities 2024: $10,134Net Assets 2024: $3,489,4132024

Highlighted filing

2022

Assets$3,520,333
Liabilities$24,646
Net Assets$3,495,687

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2017: $61,453Expenses 2017: $47,905Net Income 2017: $13,5482017Revenue 2018: $16,428Expenses 2018: $63,876Net Income 2018: -$47,4482018Revenue 2019: $19,946Expenses 2019: $86,884Net Income 2019: -$66,9382019Revenue 2020: $2,662,143Expenses 2020: $79,335Net Income 2020: $2,582,8082020Revenue 2021: $142,156Expenses 2021: $250,942Net Income 2021: -$108,7862021Revenue 2022: $542,521Expenses 2022: $468,349Net Income 2022: $74,1722022Revenue 2023: $236,249Expenses 2023: $393,625Net Income 2023: -$157,3762023Revenue 2024: $105,102Expenses 2024: $303,360Net Income 2024: -$198,2582024

Highlighted filing

2022

Revenue$542,521
Expenses$468,349
Net Income$74,172
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 2, 2023
Return Version
2022v5.0
Gross Receipts
$553,291
Mission and Program Overview

Mission

The valley housing fund works collaboratively to create and support affordable and accessible housing opportunities to strengthen the gunnison valley community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$573,895$1,836,741▲ $1,262,846
Investments Other Securities$1,775,280$972,868▼ $802,412
Savings and Temporary Cash Investments$1,153,356$310,339▼ $843,017
Other Notes and Loans Receivable, Net$178,150$278,150▲ $100,000
Cash and Non-Interest-Bearing Accounts$110,289$81,004▼ $29,285
Accounts Receivable-$18,309-
Total Assets$3,817,710$3,520,333▼ $297,377
Other Assets Total$26,740$22,922▼ $3,818
Liabilities
Accounts Payable and Accrued Expenses-$24,646-
Other Liabilities$2,000$0▼ $2,000
Total Liabilities$2,000$24,646▲ $22,646
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,815,710$3,495,687▼ $320,023
Total Net Assets Fund Balance$3,815,710$3,495,687▼ $320,023
Total Liabilities and Net Assets / Fund Balance$3,817,710$3,520,333▼ $297,377

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$846,429$17,157$780,531
Leasehold Improvements$19,305$2,095$21,400
Equipment$0$7,220$7,220
Land$971,007--
Other Securities$402,663--
Financial Derivatives$0--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Lauren KoellikerDirectorFT$54,167$54,167

Board Members and Trustees

NameTitle
Scott DesmaraisPresident
Jim StarrVice President
Alec LindemanMember
Butch ClarkMember
Jim GelwicksMember
Jim SchmidtMember
Kelly MckinnisMember
Susan KernsTreasurer/secretary
Revenue and Support

Revenue Composition

Contributions and Grants
$487,741
Program Service Revenue
$13,033
Investment Income
$38,222
Other Revenue
$3,525
All Other Contributions
$487,741
Change in Net Assets
$74,172

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 Amount
Real Estate Residential1$285,000
Total Noncash Contributions1$285,000
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$342,979
Other Expenses$67,059
Salaries, Compensation, and Employee Benefits$58,311
Total Fundraising Expense$33,977
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$339,000--$339,000
Current Officers, Directors, Trustees, and Key Employees$18,056$18,055$18,056$54,167
Other Expenses$16,900$0$0$16,900
Advertising$340$1,324$14,164$15,828
Depreciation Depletion$8,101$2,429$0$10,530
Office Expenses$0$7,066$0$7,066
Fees for Services Legal$1,830$4,408$0$6,238
Insurance$3,572$1,075$0$4,647
Fees for Services Accounting$0$4,223$0$4,223
Payroll Taxes$1,381$1,381$1,382$4,144
Grants to Domestic Individuals$3,979--$3,979
Travel$375$374$375$1,124
Fees for Services Other$0$199$0$199
Conferences and Meetings$0$124$0$124
Total Functional Expenses$393,714$40,658$33,977$468,349
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Habitat for HumanityGunnison, CO-Affordable Housing$200,000
City of GunnisonGunnison, CO-Affordable Housing$139,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$14,295
Fundraising Direct Expenses$10,770
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
Security Deposits Held$0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
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
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Valley Housing Fund
EIN
27-2032108
Phone
9709019032
Address
PO BOX 1742, GUNNISON, CO 81230

Signing Officer

Name
Scott Desmarais
Title
President
Phone
9709019032
Signed
2023-11-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Scott Desmarais
Formed
2010
Legal Domicile
Co
Voting Board Members
8
Independent Board Members
8
Employees
1
Volunteers
18

Preparer

Firm
Douglas B Gorman Pc
Address
PO BOX 149 214 SIXTH ST, CRESTED BUTTE, CO 81224
Preparer
Douglas B Gorman
Phone
9703496156
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

A copy of the 990 was provided to the organization's board of directors for their review prior to filing the return.

Pt XI

Prior period adjustment is made to correct errors made in recording expenses in 2021.

Pt X

Governing documents are made available to the public upon request.

Pt VI, Line 15A

The board of directors meets annually to discuss the compensation of the executive director and compare the amount to comparable positions.

Pt XI

Prior period adjustment is made for real estate donated in 2013 but not recorded on the general ledger. The amount of the real estate is reflected in the totals on schedule d part vi.

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IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt089930
IRS990/PYExcessBenefitTransInd0false
IRS990/PYGrantsAndSimilarPaidAmt0179000
IRS990/PYInvestmentIncomeAmt032977
IRS990/PYOtherExpensesAmt071942
IRS990/PYOtherRevenueAmt019249
IRS990/PYRevenuesLessExpensesAmt0-108786
IRS990/PYTotalExpensesAmt0250942
IRS990/PYTotalRevenueAmt0142156
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt074172
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0true
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0542521
IRS990/SavingsAndTempCashInvstGrp/BOYAmt01153356
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0310339
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0487741
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt089293
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt02629038
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt01600
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt01200
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt03208872
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt038222
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt058000
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt025344
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt018346
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt015228
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0155140
IRS990ScheduleA/InvestmentIncomeCYPct00
IRS990ScheduleA/OtherIncome170Grp/TotalAmt00
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.95390
IRS990ScheduleA/PublicSupportCY509Pct00
IRS990ScheduleA/PublicSupportPY170Pct00.94120
IRS990ScheduleA/PublicSupportTotal170Amt03208872
IRS990ScheduleA/PublicSupportTotal509Amt00
IRS990ScheduleA/SubstantialContributorsTotAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0487741
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt089293
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt02629038
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt01600
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt01200
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt03208872
IRS990ScheduleA/TotalSupportAmt03364012
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/BuildingsGrp/BookValueAmt0846429
IRS990ScheduleD/BuildingsGrp/DepreciationAmt017157
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt083055
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0780531
IRS990ScheduleD/EquipmentGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/DepreciationAmt07220
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt07220
IRS990ScheduleD/FinancialDerivativesGrp/BookValueAmt00
IRS990ScheduleD/FinancialDerivativesGrp/MethodValuationCd0C
IRS990ScheduleD/LandGrp/BookValueAmt0971007
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt0971007
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt019305
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt02095
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt021400
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt00
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SECURITY DEPOSITS HELD
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt0570205
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt1402663
IRS990ScheduleD/OtherSecuritiesGrp/Desc0FTSE SOCIAL INDEX FUND
IRS990ScheduleD/OtherSecuritiesGrp/Desc1TOTAL BOND MARKET INDEX ADMIRAL
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0F
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd1F
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01836741
IRS990ScheduleD/TotalBookValueSecuritiesAmt0972868
IRS990ScheduleD/TotalLiabilityAmt00
IRS990ScheduleI/GrantRecordsMaintainedInd0false
IRS990ScheduleI/RecipientTable/CashGrantAmt0139000
IRS990ScheduleI/RecipientTable/CashGrantAmt1200000
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0AFFORDABLE HOUSING
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1AFFORDABLE HOUSING
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0CITY OF GUNNISON
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1HABITAT FOR HUMANITY
IRS990ScheduleI/RecipientTable/RecipientEIN0846000673
IRS990ScheduleI/RecipientTable/RecipientEIN1841342438
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0201 W VIRGINIA AVE
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt1303 N MAIN ST
IRS990ScheduleI/RecipientTable/USAddress/CityNm0GUNNISON
IRS990ScheduleI/RecipientTable/USAddress/CityNm1GUNNISON
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0CO
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1CO
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd081230
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd181230
IRS990ScheduleI/Total501c3OrgCnt02
IRS990ScheduleI/TotalOtherOrgCnt00
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleM/AnyPropertyThatMustBeHeldInd0false
IRS990ScheduleM/RealEstateResidentialGrp/ContributionCnt01
IRS990ScheduleM/RealEstateResidentialGrp/NonCashCheckboxInd0X
IRS990ScheduleM/RealEstateResidentialGrp/NoncashContributionsRptF990Amt0285000
IRS990ScheduleM/ReviewProcessUnusualNCGiftsInd0false
IRS990ScheduleM/ThirdPartiesUsedInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A COPY OF THE 990 WAS PROVIDED TO THE ORGANIZATION'S BOARD OF DIRECTORS FOR THEIR REVIEW PRIOR TO FILING THE RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1PRIOR PERIOD ADJUSTMENT IS MADE TO CORRECT ERRORS MADE IN RECORDING EXPENSES IN 2021.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD OF DIRECTORS MEETS ANNUALLY TO DISCUSS THE COMPENSATION OF THE EXECUTIVE DIRECTOR AND COMPARE THE AMOUNT TO COMPARABLE POSITIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4PRIOR PERIOD ADJUSTMENT IS MADE FOR REAL ESTATE DONATED IN 2013 BUT NOT RECORDED ON THE GENERAL LEDGER. THE AMOUNT OF THE REAL ESTATE IS REFLECTED IN THE TOTALS ON SCHEDULE D PART VI.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt XI
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt X
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Pt VI, Line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Pt XI
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt03817710
IRS990/TotalAssetsEOYAmt03520333
IRS990/TotalAssetsGrp/BOYAmt03817710
IRS990/TotalAssetsGrp/EOYAmt03520333
IRS990/TotalCompGreaterThan150KInd0false

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