Vermont Housing Finance Agency

Analysis

Vermont Housing Finance Agency is a registered charity in United States, based in Burlington, VT. It received its IRS tax-exemption ruling in August 2002, 24 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Vermont Housing Finance Agency reported income of $55.9m and spending of $48.4m, spending 86% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $29.6m to $55.9m (+89%), an average of +17% a year. The sharpest change came in the year to June 2023, when income rose by 42%. Over the whole period it spent 86% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Vermont Housing Finance Agency sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within VT. Charities of a similar size with the same main cause include Midpen Housing Corporation ($55.7m), Quality Development and Construction Inc ($56.0m) and Concordia Lutheran Ministries of Pittsburgh ($55.5m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 94% of the total. Compensation of current officers, directors and key employees was $405k (0.8% of expenses). Other salaries and wages came to $4.1m. At year end it held assets of $515.6m against liabilities of $411.0m, net assets of $104.5m. It reported 46 employees.