Evernorth Loan Fund Inc

Analysis

Evernorth Loan Fund Inc is a registered charity in United States, based in Burlington, VT. It received its IRS tax-exemption ruling in October 1989, 37 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Evernorth Loan Fund Inc reported income of $1.2m and spending of $577k, leaving 52% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $6.6m to $1.2m (-82%), an average of -35% a year. The sharpest change came in the year to December 2021, when income dropped by 55%. Over the whole period it spent 85% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Evernorth Loan Fund Inc sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 79th percentile within VT. Charities of a similar size with the same main cause include Highlands Mutual Housing Corporation Inc ($1.2m), Housing Rescource Center of Lewis County ($1.2m) and Community Services Programs Inc ($1.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 86% of the total. At year end it held assets of $17.2m against liabilities of $2.5m, net assets of $14.7m.