2023-11-14T14:29:41-06:00 2022-12-31 010523282 Berry Dunn McNeil & Parker LLC 1000 Elm Street 4th Floor Manchester NH 03101 990 2022-01-01 030301520 Gilman Housing Trust Inc GILM 8024733925 1222 Main Street St Johnsbury VT 05819 Patrick Shattuck Executive Director 8024733925 2023-11-14 1 Patrick Shattuck 999009999 1 Emily Saunders CPA P02182652 6036697337 2023-11-14 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z X Rural Edge Patrick Shattuck 1222 Main Street St Johnsbury VT 05819 8487729 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 68 13 0 0 3545532 3613118 3976227 4510091 147399 49814 68583 228411 7737741 8401434 299500 691518 0 0 2483004 2870066 0 0 0 2698293 3540760 5480797 7102344 2256944 1299090 22742155 23402374 12548099 11909228 10194056 11493146 To develop, own and manage affordable residential housing units and related facilities for qualified low-income families. 0 0 6226959 691518 4510091 Provides affordable housing to low-income families in northern Vermont. 6226959 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 1 0 0 0 1 1 1 1 0 0 1 47 0 1 68 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 1222 Main Street St Johnsbury VT 05819 Tim O'Neill President 1.00 5.00 X X 0 0 0 Nikole Brainard 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 Jennifer Cleveland 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 Kelsey Stavseth Director 1.00 2.50 X 0 0 0 Terri Lynn Williams Director 1.00 2.50 X 0 0 0 Louise Bonvechio Past Vice President/Treasurer 1.00 5.00 X X 0 0 0 Megan Maclure Past Treasurer/Director 1.00 5.00 X X 0 0 0 Wanda Sears Past Director 1.00 2.50 X 0 0 0 Patrick Shattuck Executive Director 40.00 5.00 X 119403 0 19290 Diana Cazaudumec Director of Finance 40.00 5.00 X 101994 0 17577 221397 0 36867 2 0 0 0 0 3011063 602055 32000 3613118 Rental Income 531110 2163791 2163791 Property Management 531110 1122799 1122799 Support Services 561000 600210 600210 Development Fees 531110 318838 318838 Other Operating Revenu 531110 304453 304453 4510091 11109 11109 125000 86295 38705 38705 38705 Forgiveness of Debt 900099 228411 228411 228411 8401434 4510091 0 278225 646210 646210 45308 45308 258264 258264 2068321 1901858 166463 35126 32299 2827 324837 301474 23363 183518 155624 27894 6962 6962 15684 13319 2365 84700 16361 68339 40739 8339 32400 3612 3612 153179 116767 36412 37428 21291 16137 1427361 1374378 52983 131720 129046 2674 16980 16980 242775 196054 46721 611790 575312 36478 159357 120386 38971 Other Expenses 427378 385442 41936 Operating & Maintenance 150922 129764 21158 Bad Debts 30173 30173 7102344 6226959 875385 0 X 826297 826300 2103143 1976047 26164 68231 209445 30357 62748 61396 24389596 7649208 15619034 16740388 1744732 1907849 2150592 1791806 22742155 23402374 1084297 739942 10608371 10302274 170285 161135 685146 705877 12548099 11909228 X 7055312 11325429 3138744 167717 10194056 11493146 22742155 23402374 1299090 0 X 0 1 X 1 1 1 X 1223770 814074 4022774 3545532 3613118 13219268 1223770 814074 4022774 3545532 3613118 13219268 13219268 46081 66176 8075 9615 11109 141056 221200 41194 68583 228411 559388 13919712 17028517 0.94970 0.94750 X Schedule A, Part II, Line 10, Explanation of Other Income: Tax Credit Income - 2018 Amount: $ 121,200. Forgiveness of Debt - 2018 Amount: $ 100,000. 2020 Amount: $ 41,194. 2021 Amount: $ 68,583. 2022 Amount: $ 228,411. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2080253 2080253 19392893 6862714 12530179 557967 355645 202322 2358483 430849 1927634 16740388 Investment in Partnerships 1768809 C Investment in Corporations 139040 C 1907849 Due from Related Parties 1260462 Deferred Interest Receivable 332401 Development Fee Receivable 97673 Tenant Security Deposits 101270 1791806 Deferred Development Fee 104233 Tenant Security Deposits 98711 Deferred Interest Payable 502933 705877 X Part X, Line 2: RuralEdge, Groton Village Housing, 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 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, 2022 and 2021, 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 5983 0 General Program Support Dean Hale LLC PO Box 86 Lyndonville VT 05851 204808022 0 212727 FMV Forgiveness of Debt Forgiveness of Debt Maple Mountain 0 427500 FMV Forgiveness of Debt Forgiveness of Debt 0 2 Re-Housing Recovery Program 2 45308 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. This program continued in 2022. X 1 32000 Appraisal 0 0 0 0 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 1222 Main Street St. Johnsbury, VT 05819 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 232755 481536 Gilman Housing Trust Inc Crystal Lake Housing LP 123 St Paul Street Burlington VT 05401 030361428 Affordable Housing VT 176625 882275 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 203036 957617 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 -8 423417 Gilman Housing Trust Inc St Johnsbury Housing Partnership 123 St Paul Street Burlington VT 05401 030326181 Affordable Housing VT 199906 1634664 Gilman Housing Trust Inc JRA 2018 LLC PO Box 259 Lyndonville VT 05851 831750199 Affordable Housing VT -11 168031 Gilman Housing Trust Inc GPA 2019 LLC PO Box 259 Lyndonville VT 05851 842867811 Affordable Housing VT -2 200814 Gilman Housing Trust Inc Crystal Lake 2016 LLC PO Box 259 Lyndonville VT 05851 Affordable Housing VT 0 0 Gilman Housing Trust Inc GHT OPL 2018 LLC PO Box 259 Lyndonville VT 05851 833770668 Affordable Housing VT -9 411902 Gilman Housing Trust Inc GHT NFH 2010 LLC PO Box 259 Lyndonville VT 05851 272595153 Affordable Housing VT -10 61287 Gilman Housing Trust Inc Lakeview 2015 LLC PO Box 259 Lyndonville VT 05851 Affordable Housing VT 0 0 Gilman Housing Trust Inc GHT WBH 2020 LLC PO Box 259 Lyndonville VT 05851 854005915 Affordable Housing VT 2 687485 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 -41806 609457 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 -2 200814 0 1 0.21020 Groton Community Housing LP 100 Bank Street Burlington VT 05401 061687666 Affordable Housing VT Gilman Housing Trust Inc Related 64 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 168031 0 1 0.15140 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 -102386 1229381 0 1 0.99950 Mountainview St Jay Housing LP 100 Bank Street Burlington VT 05401 200229559 Affordable Housing VT Gilman Housing Trust Inc Related -49 14623 0 1 0.02500 Newport Family Housing LP 100 Bank Street Burlington VT 05401 272773648 Affordable Housing VT GHT NFH 2010 LLC Related -10 61287 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 -9 411902 0 1 0.00010 Parkview Apartments LP 48 Elm Street Lyndonville VT 05851 821973274 Affordable Housing VT Parkview Newport LLC Related -8 423417 0 1 0.00010 West Burke Housing LP 100 Bank Street Burlington VT 05401 854067347 Affordable Housing VT GHT WBH 2020 LLC Related 2 687485 0 1 0.00010 DIN 2015 LLC 48 Elm Street Lyndonville VT 05851 473697309 Rental VT Gilman Housing Trust Inc C -11 715229 1.00000 1 GHT HFH 2011 LLC 48 Elm Street Lyndonville VT 05851 453032307 Rental VT Gilman Housing Trust Inc C -14 76194 1.00000 1 NE Ventures Inc 48 Elm Street Lyndonville VT 05851 203903291 Rental VT Gilman Housing Trust Inc C -63 -214639 1.00000 1 0 1 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 91701 FMV Moose River Housing LP L 76343 FMV Memphremagog Senior Citizen Housing Inc L 60114 FMV Dean Hale LLC B 218710 FMV Dean Hale LLC D 228328 FMV