Overview
What is Addison County Community Trust?
Addison County Community Trust is a notable nonprofit organization situated in Vergennes, Vermont. With a mission to enhance the lives of low and moderate-income residents in the area, they dedicate their efforts to developing, managing, and preserving quality, affordable housing. Their activities include operating and maintaining over 700 units of affordable housing, managing 334 multi-family tax credit apartments, and overseeing 340 lots in nine nonprofit-owned parks for owner-occupied mobile homes. They also provide down payment grants for moderate-income households and manage approximately 78 homes in their shared-equity program. By serving approximately 752 households in 2022, Addison County Community Trust works tirelessly to support families, seniors, and individuals in need.
Official website here: www.addisontrust.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Stars)
Addison County Community Trust has achieved a remarkable 96% rating from Charity Navigator, reflecting a strong commitment to accountability and financial integrity. This score is derived solely from their Accountability & Finance metrics, with an exemplary score indicating that the organization maintains high standards in financial management and transparency.
The organization has demonstrated robust governance, with a fully independent board and a comprehensive audit and oversight committee. Their policies regarding conflict of interest, whistleblower protection, and document retention are all in place, further enhancing trust among stakeholders. Additionally, a substantial portion of their expenses—91.5%—is allocated directly to programs, showcasing their dedication to maximizing the impact of every dollar received.
While the overall metrics are very positive, a limitation could be the singular focus on financial accountability without additional insights into programmatic effectiveness or community impact. However, the high level of transparency and governance practices positions Addison County Community Trust as a reliable and responsible nonprofit organization.
This AI summary has been generated from information found on Charity Navigator.
Is Addison County Community Trust legitimate?
Addison County Community Trust is a legitimate nonprofit organization registered as a 501(c)(3) entity. Addison County Community Trust 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $113,785
Professional Fundraising Fees: $0
Other Salaries and Wages: $986,569
For more financial information, click here
Official website here: www.addisontrust.org
What is the mission statement of Addison County Community Trust?
The Addison County Community Trust works towards enriching the lives of low-income individuals in the community. Their mission is achieved by developing, managing, and preserving quality, affordable housing. They also provide essential supports for families, seniors, and individuals. By operating over 700 units of permanently affordable housing, they offer property management services for tax credit apartments, manage non-profit-owned parks for owner-occupied mobile homes, and provide down payment grants for moderate-income households. In 2022, approximately 752 households benefited from their services.
Official website here: www.addisontrust.org
Who is the CEO of Addison County Community Trust?
Elise Shanbacker is the Executive Di of Addison County Community Trust.
Official website here: www.addisontrust.org
What is the revenue of Addison County Community Trust?
Addison County Community Trust's revenue in 2022 was $3,221,130.
Official website here: www.addisontrust.org
Who are the executives of Addison County Community Trust and what are their salaries?
The average compensation at Addison County Community Trust during 2022 was $36,678. There are 30 employees and 25 volunteers at Addison County Community Trust.
Here are 13 key members and their salaries:
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Official website here: www.addisontrust.org
Where can I find the form 990 for Addison County Community Trust?
Addison County Community Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.addisontrust.org
Learn more at the official website: www.addisontrust.org
Mission Statement of Addison County Community Trust
The Addison County Community Trust (ACCT) strives to enrich the lives of low and moderate-income individuals in its community. The organization's mission is multi-faceted, focusing on developing, managing, and preserving quality, affordable housing. This commitment extends beyond simply providing shelter, as ACCT also offers essential supports for families, seniors, and individuals.
In practical terms, ACCT oversees the operation of over 700 units of permanently affordable housing. This extensive portfolio includes property management for 334 multifamily tax credit apartments, as well as the operation of 340 lots in nine nonprofit ACCT-owned parks for owner-occupied mobile homes. Additionally, ACCT provides down payment grants for moderate-income households, further expanding their reach through the shared-equity program. In 2022, approximately 752 households benefited from ACCT's services.
By focusing on affordable housing and supportive services, the Addison County Community Trust aims to make a tangible difference in the lives of those in its community who are in need. The organization's work is instrumental in ensuring that low and moderate-income individuals have access to quality housing and the resources they need to thrive.
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Impact
October, 2024
Addison County Community Trust significantly enhances the lives of low and moderate-income individuals and families in Addison County by creating and maintaining quality, affordable housing. With stewardship of over 700 units of permanently affordable housing, they manage a diverse range of living options, including 334 multifamily tax credit apartments and 340 lots in nine owner-occupied mobile home parks.
The impact is profound: in 2022 alone, approximately 752 households benefitted from their services. In addition to providing housing, Addison County Community Trust offers essential support programs, including down payment grants to moderate-income households, further enabling them to attain homeownership through the stewardship of about 78 homes in their shared-equity program.
Through these efforts, Addison County Community Trust fosters community stability, enhances quality of life, and empowers individuals and families, making a lasting contribution to the well-being of the region.
This information is meant to be a general summary of Addison County Community Trust. 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: -$38,745
- Program Service Revenue: $2,471,611
- Gross Receipts: $3,249,314
Assets and Liabilities:
- Total Assets: $12,665,119
- Total Liabilities: $4,921,131
- Net Assets: $7,743,988
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM RELATED RENT INCOME
Revenue
$1,500,729
PARK MANAGEMENT FEES
Revenue
$461,102
APARTMENT MANAGEMENT SERVICES
Revenue
$389,505
DEVELOPMENT FEES
Revenue
$90,000
HOMELAND FEES
Revenue
$30,275
Organization Details
Founding Year
1989
Phone
(802) 877-2626Principal Officer
Elise Shanbacker
Main Address
272 MAIN STREET, VERGENNES, VT, 05491
Website
www.addisontrust.orgNTEE Category
Code: L20 - Housing
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