VERMONT HOUSING FINANCE AGENCY (EIN 030239902) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1974

Legal Domicile

Principal Officer

MAURA COLLINS

Phone

8026523445

Tax Period

2024-07-01 to 2025-06-30

VERMONT HOUSING FINANCE AGENCY, founded in 1974, is a mid-sized nonprofit in the Housing & Shelter sector that reported $40.4M in total revenue in fiscal year 2024. Revenue decreased 13% compared to the prior year. The organization ran a surplus of $6.6M, a strong 16% operating margin.

Mission

TO FINANCE AND PROMOTE AFFORDABLE, SAFE AND DECENT HOUSING OPPORTUNITIES FOR LOW- AND MODERATE-INCOME VERMONTERS. TO PROVIDE ELDERLY AND LOW-INCOME PERSONS WITH HOUSING FACILITIES AND SEVICES SPECIALLY DESIGNED TO MEET THEIR PHYSICAL, SOCIAL, AND PSYCHOLOGICAL NEED AND TO PROMOTE THEIR HEALTH, SAFETY, SECURITY HAPPINESS AND USEFULNESS IN LONGER LIVING.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $35,553,171

Investment Income $4,850,113

Other Revenue $0

TOTAL REVENUE $40,403,284

Expense Breakdown

Grants Paid $1,373,316

Salaries & Benefits $5,548,001

Fundraising Expenses $0

Program Expenses $33,130,430

Other Expenses $26,855,183

TOTAL EXPENSES $33,776,500

Year-over-Year Comparison

	2024	2023	Change
Revenue	$40,403,284	$46,589,066	-0.1%
Expenses	$33,776,500	$35,498,206	0.0%
Net Income	$6,626,784	$11,090,860	-0.4%

Key Indicators

✓ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

⚠ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$456,798

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CHRISTOPHER GOMEZ	COMMISSIONER	1.00	Director	$0	$0	$0
FRED BASER	COMMISSIONER	1.00	Director	$0	$0	$0
GUSTAVE SEELIG	COMMISSIONER	1.00	Director	$0	$0	$0
JEANNE MORRISSEY	COMMISSIONER	1.00	Director	$0	$0	$0
KAJ SAMSON	COMMISSIONER	1.00	Director	$0	$0	$0
KATIE STUART-BUCKLEY	COMMISSIONER	1.00	Director	$0	$0	$0
KEVIN GAFFNEY	OUTGOING COMMISSIONER	1.00	Director	$0	$0	$0
LINDSAY KURRLE	COMMISSIONER	1.00	Director	$0	$0	$0
MARIE MILORD-AJANMA	COMMISSIONER	1.00	Director	$0	$0	$0
MICHAEL PIECIAK	COMMISSIONER	1.00	Director	$0	$0	$0
CHRIS FLANNERY	CHIEF FINANCIAL OFFICER	50.00	Officer	$166,072	$27,315	$193,387
MAURA COLLINS	EXECUTIVE DIRECTOR	50.00	Officer	$217,916	$45,495	$263,411
GEORGE DEMAS	GENERAL COUNSEL	50.00	Highest	$158,050	$18,709	$176,759
JACKLYN SANTERRE	MANAGING DIRECTOR OF HOMEO	50.00	Highest	$134,282	$35,437	$169,719
DEBORAH FLANNERY	MANAGING DIRECTOR OF COMMUNITY DEVELOPMENT	50.00	Highest	$159,606	$16,831	$176,437

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$40,403,284	$33,776,500	$705,400,189	$6,626,784
2024	No data	No data	No data	No data
2023	$55,948,964	$48,393,165	$515,556,034	$7,555,799
2022	$39,283,323	$33,470,780	$493,373,180	$5,812,543
2021	$30,569,520	$26,192,036	$515,924,415	$4,377,484
2020	$30,432,850	$25,561,237	$617,873,487	$4,871,613
2019	$29,631,091	$25,532,821	$576,624,934	$4,098,270
2018	$27,027,571	$23,166,737	$536,850,562	$3,860,834

VERMONT HOUSING FINANCE AGENCY