Overview
What is Evernorth Loan Fund Inc?
Evernorth Loan Fund Inc is a dedicated nonprofit organization, located in Burlington, Vermont. Their primary focus is on fostering low-income housing and community development, working towards the alleviation and prevention of community deterioration. They achieve this by producing and rehabilitating affordable housing, adhering to Internal Revenue Service guidelines, specifically the "facts and circumstances" tests. The mission of Evernorth Loan Fund is to create permanently affordable housing and facilitate investments in economic and community development for the benefit of Vermonters. They collaborate with local communities and the private sector to achieve these goals.
Official website here: www.evernorthus.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 88% (Three-Star out of Four Star rating)
Evernorth Loan Fund Inc has received an 88% score from Charity Navigator, reflecting a solid level of accountability and financial health. This score is derived entirely from the Accountability & Finance beacon, highlighting the organization's commitment to transparency and responsible management of funds.
The nonprofit excels in several areas, including having a fully independent board with 14 members and strong financial oversight practices. It demonstrates excellent financial ratios, with 93.13% of expenses directed towards its programs. However, there are some weaknesses, such as the absence of a whistleblower policy and a document retention policy, which may raise concerns about internal governance practices.
Overall, Evernorth Loan Fund Inc shows a strong commitment to accountability and effective use of funds. While there are some areas for improvement, particularly in governance policies, the organization is well-positioned to serve its mission effectively.
This AI summary has been generated from information found on Charity Navigator.
Is Evernorth Loan Fund Inc legitimate?
Evernorth Loan Fund Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Evernorth Loan Fund Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
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For more financial information, click here
Official website here: www.evernorthus.org
What is the mission statement of Evernorth Loan Fund Inc?
Evernorth Loan Fund Inc's mission is centered around producing permanently affordable housing and facilitating investments in economic and community development to benefit various individuals. This is accomplished through collaborative partnerships with communities and the private sector. The organization's activities are geared towards fostering low-income housing and alleviating and preventing community deterioration. They achieve this by producing and rehabilitating affordable housing, adhering to the requirements set by the Internal Revenue Service's Revenue Procedure 96-32.
Official website here: www.evernorthus.org
Who is the CEO of Evernorth Loan Fund Inc?
Janet Spitler is the Board Member of Evernorth Loan Fund Inc.
Official website here: www.evernorthus.org
What is the revenue of Evernorth Loan Fund Inc?
Evernorth Loan Fund Inc's revenue in 2022 was $1,512,409.
Official website here: www.evernorthus.org
Who are the executives of Evernorth Loan Fund Inc and what are their salaries?
Here are 22 key members and their salaries:
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- Related: $151,642
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- Related: $165,006
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- Related: $146,400
- Other: $18,089
Official website here: www.evernorthus.org
Where can I find the form 990 for Evernorth Loan Fund Inc?
Evernorth Loan Fund Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.evernorthus.org
Learn more at the official website: www.evernorthus.org
Mission Statement of Evernorth Loan Fund Inc
Evernorth Loan Fund, a nonprofit organization, is dedicated to producing and preserving permanently affordable housing and fostering economic and community development to benefit Vermonters. Through collaborations with communities and the private sector, Evernorth Loan Fund aims to alleviate and prevent community deterioration by constructing and rehabilitating affordable housing units. This mission is in line with the Internal Revenue Service's revenue procedure, specifically the 'facts and circumstances' tests, which Evernorth Loan Fund adheres to in order to qualify under the safe harbor.
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Impact
July, 2024
Evernorth Loan Fund Inc's impact is centered around producing permanently affordable housing and enabling investments in economic and community development to benefit Vermonters. By fostering low-income housing and community development, this organization plays a crucial role in alleviating and preventing community deterioration through the production and rehabilitation of affordable housing. Through their partnerships with communities and the private sector, Evernorth Loan Fund Inc is actively contributing to the creation of sustainable, long-term solutions for affordable housing in Vermont.
This information is meant to be a general summary of Evernorth Loan Fund Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $75,616
- Program Service Revenue: $415,622
- Gross Receipts: $1,512,409
Assets and Liabilities:
- Total Assets: $16,980,601
- Total Liabilities: $2,867,015
- Net Assets: $14,113,586
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
STATE TAX CREDITS
Revenue
$415,622
Organization Details
Founding Year
1988
Phone
(802) 863-8424Principal Officer
Janet Spitler
Main Address
100 BANK STREET SUITE 400, BURLINGTON, VT, 05401
Website
www.evernorthus.orgNTEE Category
Code: L20Z - Housing
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