Nonprofit · EIN 03-0315075
EVERNORTH LOAN FUND INC
Tax-exempt · BURLINGTON, VT 05401
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $9,692,413 | $715,701 | $8,976,712 | $28,141,496 | $4,436,816 | $23,704,680 |
| December 31, 2023 | 990 | $1,191,774 | $577,392 | $614,382 | $17,211,570 | $2,483,602 | $14,727,968 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $9,250,000
- Program service revenue
- $56,250
- Investment income
- $385,974
- Other revenue
- $189
Expenses
- Grants and similar amounts paid
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Program services (functional)
- $715,701
Balance sheet and other
- Total assets, start of year
- $17,211,570
- Total assets, end of year
- $28,141,496
- Total liabilities, end of year
- $4,436,816
- Net assets, end of year
- $23,704,680
- Net assets without donor restrictions
- $15,823,982
- Net assets with donor restrictions
- $7,880,698
- Gross receipts
- $9,692,413
- Employees
- 0
- Volunteers
- 0
- Year formed
- 1988
- State of legal domicile
- VT
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| NANCY OWENS | PRESIDENT Officer | 1 | $0 | $268,896 | $45,581 |
| JANET SPITLER | TREASURER (END 12/31/24) Officer | 1 | $0 | $216,998 | $43,436 |
| WILLIAM ERIC SCHMITT | COO Key employee | 1 | $0 | $218,419 | $41,544 |
| CYNTHIA LACASSE | EXECUTIVE VP & CPO Key employee | 1 | $0 | $246,347 | $13,417 |
| KATHY BEYER | VP REAL ESTATE Key employee | 1 | $0 | $203,303 | $24,654 |
| ELIZABETH WAGNER-BOUTIN | VP COMMUNITY INVESTMENTS Key employee | 1 | $0 | $177,242 | $47,174 |
| SHERRIN VAIL | VP ASSET MANAGEMENT & PORTFOLIO INITIATIVES Key employee | 1 | $0 | $183,790 | $34,119 |
| JENNIFER OGDEN | VP HR & ORG. DEVELOPMENT Key employee | 1 | $0 | $180,693 | $32,902 |
| PAUL OTTOSON | DIRECTOR OF CAPITAL MANAGEMENT Highest-paid employee | 1 | $0 | $125,860 | $37,232 |
| JULIA MORGAN | DIRECTOR OF COMMUNITY INVESTMENT RISK MANAGEMENT Highest-paid employee | 1 | $0 | $130,451 | $30,356 |
| MICHAEL SPRAGUE | DIRECTOR OF ASSET MANAGEMENT Highest-paid employee | 1 | $0 | $123,746 | $35,272 |
| AMY DOHNER | PROJECT MANAGEMENT Highest-paid employee | 1 | $0 | $126,242 | $21,484 |
| DAVID GRAVES | CONTROLLER Highest-paid employee | 1 | $0 | $122,731 | $14,477 |
| CHARLIE BAKER | CHAIR Trustee or director, Officer | 1 | $0 | $0 | $0 |
| KARA SWEENEY | VICE CHAIR Trustee or director, Officer | 1 | $0 | $0 | $0 |
13 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| KARYN HALE | ASST TREASURER Trustee or director, Officer | 1 | $0 |
| CULLEN RYAN | SECRETARY Trustee or director, Officer | 1 | $0 |
| AMY DEMETROWITZ | BOARD MEMBER Trustee or director | 1 | $0 |
| DAVE BIRKHAHN | BOARD MEMBER Trustee or director | 1 | $0 |
| MICHAEL CLARKE | BOARD MEMBER Trustee or director | 1 | $0 |
| ANDREW WINTER | BOARD MEMBER Trustee or director | 1 | $0 |
| CHRIS MILLER | BOARD MEMBER Trustee or director | 1 | $0 |
| KELLY LAFLAMME | BOARD MEMBER Trustee or director | 1 | $0 |
| MIKE ANTHONY | BOARD MEMBER Trustee or director | 1 | $0 |
| JOHN VOGEL | BOARD MEMBER Trustee or director | 1 | $0 |
| ANNA ADACHI-MEJIA | BOARD MEMBER Trustee or director | 1 | $0 |
| WALT GREINER | BOARD MEMBER Trustee or director | 1 | $0 |
| MARC LANDRY | BOARD MEMBER (END 8/31/24) Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 23 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| NANCY OWENS | PRESIDENT Officer | 1 | $0 | $242,848 | $25,711 |
| W ERIC SCHMITT | VICE PRESIDENT, ASSET MANA Highest-paid employee | 1 | $0 | $179,911 | $21,608 |
| JANET SPITLER | TREASURER Officer | 1 | $0 | $177,590 | $23,120 |
| KATHY BEYER | VP - DEVELOPMENT Highest-paid employee | 1 | $0 | $175,559 | $16,172 |
| DEBORAH FLANNERY | VICE PRESIDENT Highest-paid employee | 1 | $0 | $167,213 | $17,716 |
| SHERRIN VAIL | VICE PRESIDENT Highest-paid employee | 1 | $0 | $166,907 | $16,880 |
| JENNIFER ODGEN | VICE PRESIDENT Highest-paid employee | 1 | $0 | $162,678 | $15,469 |
| WILLIAM SHANAHAN | CO-PRESIDENT (FORMER 7/23) Officer | 1 | $0 | $165,474 | $7,514 |
| CHARLIE BAKER | CHAIR Trustee or director, Officer | 1 | $0 | $0 | $0 |
| KARA SWEENEY | VICE CHAIR Trustee or director, Officer | 1 | $0 | $0 | $0 |
| KARYN HALE | ASST TREASURER Trustee or director | 1 | $0 | $0 | $0 |
| CULLEN RYAN | SECRETARY Trustee or director, Officer | 1 | $0 | $0 | $0 |
| AMY DEMETROWITZ | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| DAVE BIRKHAHN | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| MICHAEL CLARKE | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| ANDREW WINTER | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| CHRIS MILLER | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| KELLY LAFLAMME | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| MIKE ANTHONY | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| JOHN VOGEL | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| ANNA ADACHI-MEJIA | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| WALT GREINER | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
| MARC LANDRY | BOARD MEMBER Trustee or director | 1 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 100 BANK ST STE 400, BURLINGTON, VT 05401-0002
- Principal officer (990 for 2024)
- RICH GROGAN, 100 BANK STREET SUITE 400, BURLINGTON, VT 05401
- Signed the 990
- RICH GROGAN, TREASURER
- Phone
- (802) 863-8424
- Website
- WWW.EVERNORTHUS.ORG
- Return prepared by
- MCSOLEY MCCOY & CO
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 accomplishments
- 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).Expenses $715,701 · revenue $282,999
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Check at the IRS |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 03-0315075
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1989
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Housing and shelter (L20Z)
- Assets (IRS master file)
- $29,517,377
- Income (IRS master file)
- $1,106,157
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $9,692,413 | $715,701 | $28,141,496 | XML |
| 990 | December 2023 | $1,191,774 | $577,392 | $17,211,570 | XML |
| 990 | December 2022 | $1,512,409 | $740,477 | $16,980,601 | IRS |
| 990 | December 2021 | $1,936,135 | $1,006,712 | $15,343,531 | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 03-0315075).
Questions about EVERNORTH LOAN FUND INC
- What is the EIN of EVERNORTH LOAN FUND INC?
- The employer identification number (EIN) of EVERNORTH LOAN FUND INC is 03-0315075.
- Is EVERNORTH LOAN FUND INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1989.
- Are donations to EVERNORTH LOAN FUND INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does EVERNORTH LOAN FUND INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of EVERNORTH LOAN FUND INC due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did EVERNORTH LOAN FUND INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of EVERNORTH LOAN FUND INC?
- The 990 for the year ended December 31, 2024 names RICH GROGAN.
- Who are the officers and directors of EVERNORTH LOAN FUND INC?
- The 990 for the year ended December 31, 2024 lists 28 people; 0 received compensation from the organization.
- How much revenue does EVERNORTH LOAN FUND INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $9,692,413, expenses of $715,701 and total assets of $28,141,496 at year end.
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All nonprofits in BURLINGTON · Vermont · Housing and shelter