2021-11-09T09:51:44-06:00 2020-12-31 010523282 Berry Dunn McNeil & Parker LLC 1000 Elm Street 4th Floor Manchester NH 03101 990 2020-01-01 030301520 Gilman Housing Trust Inc d/b/a Rural Edge GILM 8024733925 48 Elm Street PO Box 259 Lyndonville VT 05851 Patrick Shattuck Executive Director 8024733925 2021-11-08 1 Patrick Shattuck 999009999 Barbara J McGuan CPA P00219457 6036697337 2021-11-08 0 AAL1 IAL1 2020 2022-09-23 18:48:47Z Patrick Shattuck 48 Elm Street PO Box 259 Lyndonville VT 05851 8232539 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. 10 10 56 10 0 0 814074 4022774 2375883 4029067 66176 43360 0 41194 3256133 8136395 0 590967 0 0 2163554 2456723 0 0 18615 1084213 3261954 3247767 6309644 8366 1826751 13666948 19327482 5262232 11390370 8404716 7937112 To develop, own and manage affordable residential housing units and related facilities for qualified low-income families. 0 0 5336900 590967 4029067 Provides affordable housing to low-income families in northern Vermont. 5336900 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 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 28 0 1 56 1 0 0 0 0 0 0 0 0 0 0 0 0 X 10 10 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/Treasurer 1.00 5.00 X X 0 0 0 Patricia Sears Secretary 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 Megan Maclure 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 Director 1.00 2.50 X 0 0 0 Patrick Shattuck Executive Director 40.00 5.00 X 109960 0 19230 Diana Cazaudumec Director of Finance 40.00 5.00 X 92273 0 13208 202233 0 32438 1 0 0 0 0 3354357 668417 4022774 Rental Income 531110 1866761 1866761 Property Management 531110 944009 944009 Support Services 561000 547235 547235 Development Fees 531110 348300 348300 Other Operating Revenu 531110 322762 322762 4029067 8075 8075 131429 96144 35285 35285 35285 Forgiveness of Debt 900099 41194 41194 41194 8136395 4029067 0 84554 6500 6500 584467 584467 234670 234670 1678275 1538144 133284 6847 23230 21290 1845 95 340768 278978 59961 1829 179780 152058 27168 554 11556 11556 11530 9841 1655 34 112760 39824 71477 1459 56042 11105 44038 899 3855 3785 69 1 64998 26485 37743 770 24779 19081 5584 114 1129777 1099558 29615 604 75200 71324 3798 78 9406 9406 223775 174240 48544 991 553314 470867 80798 1649 129239 95798 32772 669 Other Expenses 281428 169712 110322 1394 Impairment Loss 252656 252656 Bad Debts 195399 182704 12441 254 Operating & Maintenance 126240 107521 18345 374 6309644 5336900 954129 18615 X 1273695 1306535 96240 2141640 19207 109109 4489302 315489 28155 83190 18248902 6653296 1378203 11595606 2061292 1744732 4320854 2031181 13666948 19327482 210149 665227 184408 4403404 9878923 185135 464271 661085 5262232 11390370 X 4426558 4438954 3978158 3498158 8404716 7937112 13666948 19327482 X 1826751 -2294355 X X 0 1 X 1 1 1 X 1306531 1106556 1223770 814074 4022774 8473705 1306531 1106556 1223770 814074 4022774 8473705 8473705 51187 60757 46081 66176 8075 232276 71306 221200 41194 333700 9039681 13488431 0.93740 0.91170 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. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1752636 1752636 14389290 6013597 8375693 514009 342926 171083 1592967 296773 1296194 11595606 Investment in Partnerships 1606777 C Investment in Corporations 137955 C 1744732 Due from Related Parties 1544653 Deferred Interest Receivable 316940 Development Fee Receivable 94141 Tenant Security Deposits 72854 Miscellaneous Current Asset 2593 2031181 Deferred Development Fee 104233 Tenant Security Deposits 72854 Deferred Interest Payable 483998 661085 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, 2020 and 2019, 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 Dean Hale LLC PO BOX 86 Lyndonville VT 05851 204808022 6500 General Program Support 0 1 Re-Housing Recovery Program 15 584467 Part I, Line 2: The grant to Dean Hale, LLC is a passthrough grant to a 100% controlled related party, further monitoring of funds deemed unnecessary. 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. 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). Form 990, Part XI, line 9: Restatement of Net Assets - FS 763,868. Net Assets of Disregarded Entities -3,058,223. Caledonia Housing Partnership 123 St Paul Street Burlington VT 05401 030310520 Affordable Housing VT 222975 589556 Gilman Housing Trust Inc Crystal Lake Housing LP 123 St Paul Street Burlington VT 05401 030361428 Affordable Housing VT 196551 969155 Lakeview 2015 LLC Darling Inn Company PO Box 259 Lyndonville VT 05851 030276684 Affordable Housing VT 16127 7287 Gilman Housing Trust Inc Lakeview Housing Limited Partnership 123 St Paul Street Burlington VT 05401 030357740 Affordable Housing VT 194708 977311 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 -11 451536 Gilman Housing Trust Inc St Johnsbury Housing Partnership 123 St Paul Street Burlington VT 05401 030326181 Affordable Housing VT 1521954 1701823 Gilman Housing Trust Inc JRA 2018 LLC PO Box 259 Lyndonville VT 05851 Affordable Housing VT -11 165252 Gilman Housing Trust Inc GPA 2019 LLC PO Box 259 Lyndonville VT 05851 Affordable Housing VT -3 159737 Gilman Housing Trust Inc Crystal Lake 2016 LLC PO Box 259 Lyndonville VT 05851 Affordable Housing VT 98 485 Gilman Housing Trust Inc GHT OPL 2018 LLC PO Box 259 Lyndonville VT 05851 Affordable Housing VT -5 1389060 Gilman Housing Trust Inc GHT NFH 2010 LLC PO Box 259 Lyndonville VT 05851 Affordable Housing VT -9 60101 Gilman Housing Trust Inc Lakeview 2015 LLC PO Box 259 Lyndonville VT 05851 Affordable Housing VT 196472 968186 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 -11477 374596 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 -3 159737 0 1 0.00010 Groton Community Housing LP 100 Bank Street Burlington VT 05401 061687666 Affordable Housing VT Gilman Housing Trust Inc Related -85392 342177 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 -11 165252 0 1 0.12350 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 -40 15683 0 1 0.99950 Mountainview St Jay Housing LP 100 Bank Street Burlington VT 05401 200229559 Affordable Housing VT Gilman Housing Trust Inc Related -34 13929 0 1 0.02500 Newport Family Housing LP 100 Bank Street Burlington VT 05401 272773648 Affordable Housing VT GHT NFH 2010 LLC Related -9 60101 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 -5 1389060 0 1 0.00010 Parkview Apartments LP 48 Elm Street Lyndonville VT 05851 821973274 Affordable Housing VT Parkview Newport LLC Related -11 451536 0 1 0.00010 DIN 2015 LLC 48 Elm Street Lyndonville VT 05851 473697309 Rental VT Gilman Housing Trust Inc C 715321 1.00000 1 GHT HFH 2011 LLC 48 Elm Street Lyndonville VT 05851 453032307 Rental VT Gilman Housing Trust Inc C 76221 1.00000 1 NE Ventures Inc 48 Elm Street Lyndonville VT 05851 203903291 Rental VT Gilman Housing Trust Inc C 3 -214503 1.00000 1 0 0 0 1 1 0 0 0 0 0 0 1 0 0 1 0 0 0 1 Passumpsic View Inc D 62616 FMV Passumpsic View Inc L 85727 FMV Moose River Housing LP D 50000 FMV Moose River Housing LP L 71631 FMV Memphremagog Senior Citizen Housing Inc L 57732 FMV Hilltop Family Housing LP S 182437 FMV