Shires Housing 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

1991

Legal Domicile

Principal Officer

Catherine Bryars

Phone

8024428139

Tax Period

2022-10-01 to 2023-09-30

Shires Housing Inc, founded in 1991, is a community nonprofit that reported $3.5M in total revenue in fiscal year 2022. Revenue surged 79% from the prior year, signaling strong growth momentum. The organization ran a surplus of $819K, a strong 23% operating margin.

Mission

Shires Housing's mission is to provide safe, decent and perpetually affordable housing options for low and moderate income residents of Bennington County.

Program Service Accomplishments

Program 1

Expenses: $1,810,827 Revenue: $1,270,714

All activity relating to the acquisition and rehabilitation or construction of affordable apartments and homes for low and moderate income Vermonters.

Program 2

Expenses: $205,966 Revenue: $220,316

All activity related to the leasing and maintaining of housing targeted for senior citizens. Activity includes screening applicants, leasing apartments, implementing on-call and preventative...

All activity related to the leasing and maintaining of housing targeted for senior citizens. Activity includes screening applicants, leasing apartments, implementing on-call and preventative maintenance, ensuring lease compliance, and ensuring funding compliance. Shires staff provide supportive services to the residents, including individual health plans, hospital discharge planning, wellness nurse services, food distribution and more.

Program 3

Expenses: $43,952 Revenue: $61,963

Operation of 6 rental units located on North Street, Bennington, VT.

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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 (2022)

Revenue Breakdown

Contributions & Grants $1,860,443

Program Service Revenue $1,670,216

Investment Income $914

Other Revenue $0

TOTAL REVENUE $3,531,573

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,319,455

Fundraising Expenses $55,960

Program Expenses $2,189,969

Other Expenses $1,392,765

TOTAL EXPENSES $2,712,220

Year-over-Year Comparison

	2022	2021	Change
Revenue	$3,531,573	$1,971,568	+0.8%
Expenses	$2,712,220	$2,380,110	+0.1%
Net Income	$819,353	$-408,542	-3.0%

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

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

$114,433

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Kathy Leech	President	4.00	Officer Director	$0	$0	$0
Amy McNeil	Treasurer	2.00	Officer Director	$0	$0	$0
Christopher Williams	Secretary	2.00	Officer Director	$0	$0	$0
David Silver	Director	2.00	Director	$0	$0	$0
Julius Rosenwald	Director	2.00	Director	$0	$0	$0
William Deveneau	Director	2.00	Director	$0	$0	$0
Reed Bongartz	Director	2.00	Director	$0	$0	$0
Jessica Chapman	Past Treasurer	2.00	Officer Director	$0	$0	$0
Jim Sullivan	Past Director	2.00	Director	$0	$0	$0
Madison Kremer	Past Interim Executive Director	45.00	Officer	$78,300	$20,145	$98,445
Catherine Bryars	Executive Director	45.00	Officer	$15,106	$882	$15,988

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	$3,531,573	$2,712,220	$11,502,174	$819,353
2023	$901,755	$610,620	$14,752,484	$291,135
2022	$1,971,568	$2,380,110	$9,318,140	$-408,542
2021	$3,565,384	$2,302,532	$9,014,730	$1,262,852
2020	$2,964,940	$2,015,902	$8,381,590	$949,038
2019	$2,080,259	$2,110,566	$7,067,258	$-30,307
2018	$2,040,642	$1,543,816	$6,316,908	$496,826