2022-11-14T12:21:48-06:00 2021-12-31 010523282 Berry Dunn McNeil & Parker LLC 1000 Elm Street 4th Floor Manchester NH 03101 990 2021-01-01 030301520 Gilman Housing Trust Inc GILM 8024733925 48 Elm Street PO Box 259 Lyndonville VT 05851 Patrick Shattuck Executive Director 8024733925 2022-11-10 1 Patrick Shattuck 999009999 Melissa Magoon CPA P01712842 6036697337 2022-11-10 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z Rural Edge Patrick Shattuck 48 Elm Street PO Box 259 Lyndonville VT 05851 7793755 0 X www.RuralEdge.org X 1992 VT To develop, own and manage affordable residential housing units and related facilities for qualified low-income families. 9 9 58 10 0 0 4022774 3545532 4029067 3976227 43360 147399 41194 68583 8136395 7737741 590967 299500 0 0 2456723 2483004 0 0 0 3261954 2698293 6309644 5480797 1826751 2256944 19327482 22742155 11390370 12548099 7937112 10194056 To develop, own and manage affordable residential housing units and related facilities for qualified low-income families. 0 0 4628730 299500 3976227 Provides affordable housing to low-income families in northern Vermont. 4628730 1 1 0 0 0 0 0 0 0 0 1 1 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 1 19 0 1 58 1 0 0 0 0 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 X Patrick Shattuck 8024733925 48 Elm Street Lyndonville VT 05851 Tim O'Neill President 1.00 5.00 X X 0 0 0 Louise Bonvechio Vice President 1.00 5.00 X X 0 0 0 Patricia Sears Secretary 1.00 5.00 X X 0 0 0 Megan Maclure Treasurer 1.00 5.00 X X 0 0 0 Scott Campbell Director 1.00 2.50 X 0 0 0 Lorraine Janowski Director 1.00 2.50 X 0 0 0 Kimico Perry Director 1.00 2.50 X 0 0 0 Reverend Dr Jeffrey Potter Director 1.00 2.50 X 0 0 0 Wanda Sears Director 1.00 2.50 X 0 0 0 Victoria Strong Past Director 1.00 2.50 X 0 0 0 Patrick Shattuck Executive Director 40.00 5.00 X 113921 0 19812 Diana Cazaudumec Director of Finance 40.00 5.00 X 96492 0 17370 210413 0 37182 1 0 0 0 0 3130370 415162 3545532 Rental Income 531110 1976200 1976200 Property Management 531110 1002605 1002605 Support Services 561000 554161 554161 Development Fees 531110 295178 295178 Other Operating Revenu 531110 148083 148083 3976227 9615 9615 193798 56014 137784 137784 137784 Forgiveness of Debt 900099 68583 68583 68583 7737741 3976227 0 215982 299500 299500 247595 247595 1745110 1604404 140706 26427 24296 2131 296227 273122 23105 167645 140712 26933 22483 22483 12293 11110 1183 92029 37024 55005 30425 30425 6350 5162 1188 143373 106007 37366 48091 24851 23240 1068160 1038015 30145 87531 82036 5495 20483 20483 230275 185152 45123 547583 508795 38788 147460 107724 39736 Operating & Other Expen 160663 56760 103903 Bad Debts 81094 81094 5480797 4628730 852067 0 X 1306535 826297 2141640 2103143 109109 26164 315489 209445 83190 62748 22656452 7037418 11595606 15619034 1744732 1744732 2031181 2150592 19327482 22742155 665227 1084297 9878923 10608371 185135 170285 661085 685146 11390370 12548099 X 4438954 7055312 3498158 3138744 7937112 10194056 19327482 22742155 2256944 0 X 0 1 X 1 1 1 X 1106556 1223770 814074 4022774 3545532 10712706 1106556 1223770 814074 4022774 3545532 10712706 10712706 60757 46081 66176 8075 9615 190704 71306 221200 41194 68583 402283 11305693 13698624 0.94750 0.93740 X Schedule A, Part II, Line 10, Explanation of Other Income: Tax Credit Income - 2017 Amount: $ 46,000. 2018 Amount: $ 121,200. Forgiveness of Debt - 2017 Amount: $ 25,306. 2018 Amount: $ 100,000. 2020 Amount: $ 41,194. 2021 Amount: $ 68,583. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1986536 1986536 16749564 6293968 10455596 534739 354828 179911 3385613 388622 2996991 15619034 Investment in Partnerships 1606777 C Investment in Corporations 137955 C 1744732 Due from Related Parties 1620162 Deferred Interest Receivable 343211 Development Fee Receivable 91728 Tenant Security Deposits 93807 Miscellaneous Current Asset 1684 2150592 Deferred Development Fee 104233 Tenant Security Deposits 92121 Deferred Interest Payable 488792 685146 X Part X, Line 2: Gilman Housing Trust, Inc. d/b/a RuralEdge, Groton Village Housing, Inc., Memphremagog Senior Citizen Housing, Inc., Passumpsic View, Inc. and Gilman Housing Corporation are tax-exempt Section 170(b)(1)(A)(vi) public charities as described in Section 501(c)(3) of the Internal Revenue Code (the Code) and are exempt from federal income taxes on related income pursuant to Section 501(a) of the Code. Accordingly, no provision for income taxes has been reflected in these consolidated financial statements. The standards for accounting for uncertainty in income taxes require the Organization to report any uncertain tax positions and to adjust its consolidated financial statements for the impact thereof. As of December 31, 2021 and 2020, the Organization determined that it had no tax positions that did not meet the more-likely-than-not threshold of being sustained by the applicable tax authority. The Organization files an informational return in the United States. This return is generally subject to examination by the federal government for up to three years. 1 Re-Housing Recovery Program 8 299500 Part I, Line 2: Gilman Housing Trust received CRF funding to run the Re-Housing Recovery program where landlords apply for grant funding to make improvements to vacant properties, and in turn, the landlords must rent the units at no more than HUD area fair market rents for a period of five years. One of the procedures GHT has put into place to make sure the landlords and their contractors are successful in meeting program requirements is by conducting bi-weekly follow-up calls with landlords to check on their progress. This program continued in 2021. Form 990, Part VI, Section B, line 11b The Form 990 was reviewed by the CEO prior to submission. Form 990, Part VI, Section B, line 12c All transaction are reviewed to comply with the organization conflict of interest policy. Form 990, Part VI, Section B, line 15 The organization reviews compensation data of comparable organizations in the area. Form 990, Part VI, Section C, line 19 All organizing and operating documents are available to the public upon request. Form 990, Part X, Line 10: Land, Buildings, and Equipment: Section 1.263(a)-3(n) Election: Gilman Housing Trust, Inc. d/b/a Rural Edge 48 Elm Street, P.O. Box 259 Lyndonville, VT 05851 EIN: 03-0301520 Gilman Housing Trust is electing to capitalize repair and maintenance costs under Regulation Section 1.263(a)-3(n). Caledonia Housing Partnership 123 St Paul Street Burlington VT 05401 030310520 Affordable Housing VT 238660 511477 Gilman Housing Trust Inc Crystal Lake Housing LP 123 St Paul Street Burlington VT 05401 030361428 Affordable Housing VT 199672 958415 Lakeview 2015 LLC Darling Inn Company PO Box 259 Lyndonville VT 05851 030276684 Affordable Housing VT 0 0 Gilman Housing Trust Inc Lakeview Housing Limited Partnership 123 St Paul Street Burlington VT 05401 030357740 Affordable Housing VT 203053 993646 Gilman Housing Trust Inc Lyndon Housing Partnership PO Box 259 Lyndonville VT 05851 030310520 Affordable Housing VT 0 0 Gilman Housing Trust Inc Parkview Newport LLC PO Box 259 Lyndonville VT 05851 471625501 Affordable Housing VT -9 448622 Gilman Housing Trust Inc St Johnsbury Housing Partnership 123 St Paul Street Burlington VT 05401 030326181 Affordable Housing VT 95786 1676264 Gilman Housing Trust Inc JRA 2018 LLC PO Box 259 Lyndonville VT 05851 Affordable Housing VT -12 167611 Gilman Housing Trust Inc GPA 2019 LLC PO Box 259 Lyndonville VT 05851 Affordable Housing VT 0 206725 Gilman Housing Trust Inc Crystal Lake 2016 LLC PO Box 259 Lyndonville VT 05851 Affordable Housing VT 100 479 Gilman Housing Trust Inc GHT OPL 2018 LLC PO Box 259 Lyndonville VT 05851 Affordable Housing VT -8 410697 Gilman Housing Trust Inc GHT NFH 2010 LLC PO Box 259 Lyndonville VT 05851 Affordable Housing VT -8 60567 Gilman Housing Trust Inc Lakeview 2015 LLC PO Box 259 Lyndonville VT 05851 Affordable Housing VT 199574 957953 Gilman Housing Trust Inc Gilman Housing Corporation PO Box 259 Lyndonville VT 05851 222540936 Affordable Housing VT 501(c)(3) Line 10 Gilman Housing Trust Inc 1 Groton Village Housing Inc PO Box 259 Lyndonville VT 05851 043351391 Affordable Housing VT 501(c)(3) Line 10 Gilman Housing Trust Inc 1 Memphremagog Senior Citizen Housing Inc PO Box 259 Lyndonville VT 05851 030284101 Affordable Housing VT 501(c)(3) Line 10 Gilman Housing Trust Inc 1 NCDC Inc PO Box 259 Lyndonville VT 05851 030271040 Affordable Housing VT 501(c)(3) Line 7 Gilman Housing Trust Inc 1 Passumpsic View Inc PO Box 259 Lyndonville VT 05851 800030492 Affordable Housing VT 501(c)(3) Line 10 Gilman Housing Trust Inc 1 Dean Hale LLC PO Box 86 Lyndonville VT 05851 204808022 Affordable Housing VT Gilman Housing Trust Inc Related -42232 619805 0 1 1.00000 Glover Housing Limited Partnership PO Box 259 Lyndonville VT 05851 203903332 Affordable Housing VT N/A 0 1 GPA Housing LP 48 Elm Street Lyndonville VT 05851 842904947 Affordable Housing VT GPA 2019 LLC Related 206725 0 1 0.20500 Groton Community Housing LP 100 Bank Street Burlington VT 05401 061687666 Affordable Housing VT Gilman Housing Trust Inc Related -77759 285384 0 1 0.02500 Hilltop Family Housing LP PO Box 259 Lyndonville VT 05851 453089848 Affordable Housing VT N/A 0 1 Johns River Apartments LP 48 Elm Street Lyndonville VT 05851 831742221 Affordable Housing VT JRA 2018 LLC Related -12 167611 0 1 0.13670 Lyndon Darling Senior Housing LP 48 Elm Street Lyndonville VT 05851 473706566 Affordable Housing VT N/A 0 1 Moose River Housing LP 100 Bank Street Burlington VT 05401 030369688 Affordable Housing VT Gilman Housing Trust Inc Related -114615 1563792 0 1 0.99950 Mountainview St Jay Housing LP 100 Bank Street Burlington VT 05401 200229559 Affordable Housing VT Gilman Housing Trust Inc Related -55 15190 0 1 0.02500 Newport Family Housing LP 100 Bank Street Burlington VT 05401 272773648 Affordable Housing VT GHT NFH 2010 LLC Related -8 60567 0 1 0.00010 Newport Senior Housing Limited PO Box 259 Lyndonville VT 05851 262155593 Affordable Housing VT N/A 0 1 Olivia Place LP 100 Bank Street Burlington VT 05401 833012482 Affordable Housing VT GHT OPL 2018 LLC Related -8 410697 0 1 0.00010 Parkview Apartments LP 48 Elm Street Lyndonville VT 05851 821973274 Affordable Housing VT Parkview Newport LLC Related -9 448622 0 1 0.00010 DIN 2015 LLC 48 Elm Street Lyndonville VT 05851 473697309 Rental VT Gilman Housing Trust Inc C -11 715310 1.00000 0 GHT HFH 2011 LLC 48 Elm Street Lyndonville VT 05851 453032307 Rental VT Gilman Housing Trust Inc C -13 76208 1.00000 0 NE Ventures Inc 48 Elm Street Lyndonville VT 05851 203903291 Rental VT Gilman Housing Trust Inc C -73 -214576 1.00000 0 0 0 0 1 1 0 0 0 0 0 0 1 0 0 1 0 0 0 0 Passumpsic View Inc D 62616 FMV Passumpsic View Inc L 86724 FMV Moose River Housing LP D 50000 FMV Moose River Housing LP L 72063 FMV Memphremagog Senior Citizen Housing Inc L 58344 FMV