EVERNORTH LOAN FUND INC

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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

1988

Legal Domicile

Principal Officer

JANET SPITLER

Phone

8028638424

Tax Period

2023-01-01 to 2023-12-31

EVERNORTH LOAN FUND INC, founded in 1988, is a community nonprofit in the Housing & Shelter sector that reported $1.2M in total revenue in fiscal year 2023. Revenue fell 21% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $614K, a strong 52% operating margin.

Mission

THE MISSION OF EVERNORTH LOAN FUND IS TO PRODUCE PERMANENTLY AFFORDABLE HOUSING AND ENABLE INVESTMENTS IN ECONOMIC AND COMMUNITY DEVELOPMENT TO BENEFIT VERMONTERS THROUGH PARTNERSHIPS WITH COMMUNITIES AND THE PRIVATE SECTOR.

Program Service Accomplishments

Program 1

Expenses: $577,392 Revenue: $11,928

FOSTERING LOW-INCOME HOUSING, AND COMMUNITY DEVELOPMENT, ALLEVIATION AND PREVENTATION OF COMMUNITY DETERIORATION THROUGH THE PRODUCTION AND REHABILITATION OF AFFORDABLE HOUSING AS PROVIDED IN...

FOSTERING LOW-INCOME HOUSING, AND COMMUNITY DEVELOPMENT, ALLEVIATION AND PREVENTATION OF COMMUNITY DETERIORATION THROUGH THE PRODUCTION AND REHABILITATION OF AFFORDABLE HOUSING AS PROVIDED IN INTERNAL REVENUE SERVICE REVENUE PROCEDURE 96-32 (INLUDING SPECIFICALLY THE REQUIREMENTS THAT MUST BE SATISFIED TO QUALIFY UNDER THE SAFE HARBOR OF "FACTS AND CIRCUMSTANCES" TESTS).

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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 (2023)

Revenue Breakdown

Contributions & Grants $1,030,000

Program Service Revenue $0

Investment Income $149,846

Other Revenue $11,928

TOTAL REVENUE $1,191,774

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $577,392

Other Expenses $577,392

TOTAL EXPENSES $577,392

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,191,774	$1,512,409	-0.2%
Expenses	$577,392	$740,477	-0.2%
Net Income	$614,382	$771,932	-0.2%

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

N/A

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

$642,257

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CHARLIE BAKER	CHAIR	1.00	Officer Director	$0	$0	$0
KARA SWEENEY	VICE CHAIR	1.00	Officer Director	$0	$0	$0
KARYN HALE	ASST TREASURER	1.00	Director	$0	$0	$0
CULLEN RYAN	SECRETARY	1.00	Officer Director	$0	$0	$0
AMY DEMETROWITZ	BOARD MEMBER	1.00	Director	$0	$0	$0
DAVE BIRKHAHN	BOARD MEMBER	1.00	Director	$0	$0	$0
MICHAEL CLARKE	BOARD MEMBER	1.00	Director	$0	$0	$0
ANDREW WINTER	BOARD MEMBER	1.00	Director	$0	$0	$0
CHRIS MILLER	BOARD MEMBER	1.00	Director	$0	$0	$0
KELLY LAFLAMME	BOARD MEMBER	1.00	Director	$0	$0	$0
MIKE ANTHONY	BOARD MEMBER	1.00	Director	$0	$0	$0
JOHN VOGEL	BOARD MEMBER	1.00	Director	$0	$0	$0
ANNA ADACHI-MEJIA	BOARD MEMBER	1.00	Director	$0	$0	$0
WALT GREINER	BOARD MEMBER	1.00	Director	$0	$0	$0
MARC LANDRY	BOARD MEMBER	1.00	Director	$0	$0	$0
JANET SPITLER	TREASURER	1.00	Officer	$0	$23,120	$200,710
NANCY OWENS	PRESIDENT	1.00	Officer	$0	$25,711	$268,559
WILLIAM SHANAHAN	CO-PRESIDENT (FORMER 7/23)	1.00	Officer	$0	$7,514	$172,988
SHERRIN VAIL	VICE PRESIDENT	1.00	Highest	$0	$16,880	$183,787
W ERIC SCHMITT	VICE PRESIDENT, ASSET MANA	1.00	Highest	$0	$21,608	$201,519
KATHY BEYER	VP - DEVELOPMENT	1.00	Highest	$0	$16,172	$191,731
DEBORAH FLANNERY	VICE PRESIDENT	1.00	Highest	$0	$17,716	$184,929
JENNIFER ODGEN	VICE PRESIDENT	1.00	Highest	$0	$15,469	$178,147

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
2024	No data	No data	No data	No data
2023	$1,191,774	$577,392	$17,211,570	$614,382
2022	$1,512,409	$740,477	$16,980,601	$771,932
2021	$1,936,135	$1,006,712	$15,343,531	$929,423
2020	$4,290,249	$4,964,751	$14,824,024	$-674,502
2019	$6,602,759	$5,932,433	$13,169,394	$670,326
2018	$5,348,378	$4,739,333	$12,477,630	$609,045