CHAMPLAIN HOUSING TRUST

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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

1984

Legal Domicile

Principal Officer

CHERYL READ

Phone

8028626244

Tax Period

2023-10-01 to 2024-09-30

CHAMPLAIN HOUSING TRUST, founded in 1984, is a mid-sized nonprofit in the Housing & Shelter sector that reported $40.5M in total revenue in fiscal year 2023. Revenue decreased 19% compared to the prior year. The organization ran a surplus of $9.8M, a strong 24% operating margin.

Mission

CHAMPLAIN HOUSING TRUST'S MISSION STATEMENT ASSERTS OUR PRIMARY EXEMPT PURPOSE AS FOLLOWS: CHT IS A COMMUNITY LAND TRUST THAT SUPPORTS THE PEOPLE OF NORTHWEST VERMONT AND STRENGTHENS THEIR COMMUNITIES THROUGH THE DEVELOPMENT AND STEWARDSHIP OF PERMANENTLY AFFORDABLE HOMES AND RELATED COMMUNITY ASSETS.

Program Service Accomplishments

Program 1

Expenses: $18,550,669 Revenue: $20,196,282

THE ORGANIZATION OWNS AND MANAGES PROPERTY TO PROVIDE ACCESS TO PERMANENTLY AFFORDABLE HOUSING FOR LOW AND MODERATE INCOME HOUSEHOLDS. THE ORGANIZATION ALSO PROVIDES A WIDE RANGE OF TENANT AND...

THE ORGANIZATION OWNS AND MANAGES PROPERTY TO PROVIDE ACCESS TO PERMANENTLY AFFORDABLE HOUSING FOR LOW AND MODERATE INCOME HOUSEHOLDS. THE ORGANIZATION ALSO PROVIDES A WIDE RANGE OF TENANT AND RESIDENT SERVICES TO HELP ALLEVIATE HOMELESSNESS AND PROMOTE HOUSING AND FINANCIAL STABILITY.

Program 2

Expenses: $3,492,580

THE ORGANIZATION PROVIDES A SUITE OF HOMEOWNERSHIP SERVICES INCLUDING EDUCATION TO ASSIST WITH CREDIT, BUDGETING, HOME PURCHASE, AND POST-PURCHASE TOPICS; AFFORDABLE LOANS TO ASSIST WITH THE PURCHASE OR ESSENTIAL REPAIR OF HOMES; AND ACCESS TO AFFORDABLE HOME PURCHASES THROUGH ITS SIGNATURE SHARED EQUITY PROGRAM. THE ORGANIZATION ALSO PROVIDES ONGOING STEWARDSHIP OF ITS PERMANENTLY AFFORDABLE, OWNER-OCCUPIED HOME PORTFOLIO, INCLUDING FACILITATION OF HOME PURCHASES AND SALES.

Program 3

Expenses: $3,896,180

THE ORGANIZATION IS ENGAGED IN REAL ESTATE DEVELOPMENT, FOCUSED ON PROVIDING AFFORDABLE HOUSING FOR LOW AND MODERATE INCOME HOUSEHOLDS AS WELL AS NONPROFIT COMMUNITY FACILITIES.

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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 $15,045,293

Program Service Revenue $18,646,986

Investment Income $5,273,228

Other Revenue $1,532,096

TOTAL REVENUE $40,497,603

Expense Breakdown

Grants Paid $1,721,729

Salaries & Benefits $13,361,904

Fundraising Expenses $332,732

Program Expenses $25,939,429

Other Expenses $15,638,240

TOTAL EXPENSES $30,721,873

Year-over-Year Comparison

	2023	2022	Change
Revenue	$40,497,603	$50,180,184	-0.2%
Expenses	$30,721,873	$25,670,517	+0.2%
Net Income	$9,775,730	$24,509,667	-0.6%

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

181

Volunteers

100

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

$509,008

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JEFF SMITH	PRESIDENT	5.00	Officer Director	$0	$0	$0
GILLIAN NANTON	VICE PRESIDENT	5.00	Officer Director	$0	$0	$0
SARAH ROBINSON	TREASURER	5.00	Officer Director	$0	$0	$0
NICOLE MACE	VICE TREASURER	5.00	Officer Director	$0	$0	$0
LISA LORD	SECRETARY	5.00	Officer Director	$0	$0	$0
HELEN HEAD	DIRECTOR	5.00	Director	$0	$0	$0
ISAAC OWUSU	DIRECTOR	5.00	Director	$0	$0	$0
ISSOUF OUATTARA	DIRECTOR	5.00	Director	$0	$0	$0
JOAN LENES	DIRECTOR	5.00	Director	$0	$0	$0
KATE CAPPLEMAN SINZ	DIRECTOR	5.00	Director	$0	$0	$0
KATHY T LUCE	DIRECTOR	5.00	Director	$0	$0	$0
LIZ GAMACHE	DIRECTOR	5.00	Director	$0	$0	$0
NAIMA DENNIS	DIRECTOR	5.00	Director	$0	$0	$0
RACHYL PHILLIPS	DIRECTOR	5.00	Director	$0	$0	$0
REGINA MAHONY	DIRECTOR	5.00	Director	$0	$0	$0
MICHAEL MONTE	CEO	40.00	Officer	$162,189	$24,842	$187,031
AMELIA DEMETROWITZ	CHIEF OPERATING OFFICER	40.00	Officer	$134,986	$32,671	$167,657
CHERYL READ	CAO/CFO	40.00	Officer	$122,377	$31,943	$154,320
CHRISTOPHER DONNELLY	DIRECTOR OF COMMUNITY RELATIONS	40.00	Highest	$111,247	$31,669	$142,916
JOSH CHANT	DIRECTOR OF FINANCE	40.00	Highest	$103,831	$31,327	$135,158
MIRANDA LESCAZE	DIR. OF REAL ESTATE DEVELOPMENT	40.00	Highest	$102,728	$31,333	$134,061
MICHAEL OHLER	DIR.OF RESIDENT SERVICES & HOMELESSNESS PREVENTION	40.00	Highest	$106,227	$4,762	$110,989
JULIE CURTIN	DIRECTOR OF HOMEOWNERSHIP	40.00	Highest	$104,445	$4,887	$109,332

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	$40,497,603	$30,721,873	$179,961,640	$9,775,730
2023	$50,180,184	$25,670,517	$191,531,660	$24,509,667
2022	$41,552,013	$21,202,317	$174,853,503	$20,349,696
2021	$31,041,858	$19,854,619	$156,492,954	$11,187,239
2020	$35,692,370	$16,444,338	$133,379,837	$19,248,032
2019	$17,845,070	$15,951,822	$112,824,505	$1,893,248
2018	$25,088,364	$12,795,693	$110,822,768	$12,292,671