Vermont Housing Finance Agency
Vermont Housing Finance Agency reported $40.4 million in revenue and $33.8 million in expenses for the fiscal year ending June 30, 2025. Of every $100 it spent, $98.09 went to program services, $1.91 to management and general costs and $0.00 to fundraising. Its largest source of revenue was program service revenue such as fees, sales and contracts: 88.0% of the total. The highest compensation it reported for one person was $263,411 (EXECUTIVE DIRECTOR). 5 people received more than $100,000 in reportable compensation. Revenue rose 33% between FY2020 and FY2025. Source: Form 990, FY2025.
Where $100 of spending went
The fiscal year ending June 30, 2025 · Form 990, Part IX, line 25 · total expenses $34MFor context, the median across 933 covered housing & shelter charities: $89.27 programs, $10.73 management, $0.00 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
The fiscal year ending June 30, 2025 · Form 990, Part VIII · total revenue $40MThe 990 scorecard · same measures for every charity, no grades
| Measure | FY2025 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 98.1% | 87.5% |
| Management & general Part IX 25(C) ÷ 25(A) | 1.9% | 10.5% |
| Fundraising Part IX 25(D) ÷ 25(A) | 0.0% | 0.0% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | Not reported | $0.01 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 0.0% | 17.0% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 0.0% | 1.0% |
| Program service revenue share Part VIII 2g ÷ 12 | 88.0% | 66.2% |
| Highest reported compensation Part VII-A, columns D–F | $263,411 | $300,863 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 0.78% | 1.57% |
| People paid over $100,000 Part VII, line 2 | 5 | 5 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 43.9 | 10.0 |
| Independent voting board members Part VI 1a–1b | 9 of 9 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
FY2025 · Form 990, Part III · the three largest programs by expenseMonies from the single family, multi-family, multi-purpose, and general operating program funds have been used by the agency to purchase mortgage backed securities and finance mortgage loans on single and multi-family residential housing units for persons and families of low and moderate income within the state of vermont
The agency participates in the following federal funding programs under the american rescue plan act (arpa): homeowner assistance program (hap). The agency participates in the following treasury department's cdfi funded program: capital magnet funds 2021, 2023 and 2024
Highest reported compensation
FY2025 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| EXECUTIVE DIRECTOR Officer, 50.00 hrs/week | $217,916 | $0 | $45,495 | $263,411 |
| CHIEF FINANCIAL OFFICER Officer, 50.00 hrs/week | $166,072 | $0 | $27,315 | $193,387 |
| GENERAL COUNSEL Highest compensated employee, 50.00 hrs/week | $158,050 | $0 | $18,709 | $176,759 |
| MANAGING DIRECTOR OF COMMUNITY DEVELOPMENT Highest compensated employee, 50.00 hrs/week | $159,606 | $0 | $16,831 | $176,437 |
| MANAGING DIRECTOR OF HOMEO Highest compensated employee, 50.00 hrs/week | $134,282 | $0 | $35,437 | $169,719 |
5 people received more than $100,000 in reportable compensation from Vermont Housing Finance Agency (Part VII, line 2). Compensation of current officers, directors and key employees totaled $461K (Part IX, line 5).
6 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
FY2025 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b9 · 9 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14No
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aNo
- Family or business ties among insiders Part VI 2Yes
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4No
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bNo
- Employees Part I, line 558
Correct a figure or respond
Every number above is copied from Vermont Housing Finance Agency's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Vermont Housing Finance Agency, you can publish a response that is linked from this page.
Share or embed this breakdown
Of every $100 Vermont Housing Finance Agency spent in FY2025, $98.09 went to programs. The full breakdown, from its IRS Form 990:
Questions people ask
How much of Vermont Housing Finance Agency's spending goes to programs?
In the fiscal year ending June 30, 2025, Vermont Housing Finance Agency reported that 98.1% of its $33.8 million in expenses went to program services, 1.9% to management and general and 0.0% to fundraising (Form 990, Part IX).
How much does Vermont Housing Finance Agency pay its top executive?
The largest total compensation Vermont Housing Finance Agency reported for one person in the fiscal year ending June 30, 2025 was $263,411, for the role of EXECUTIVE DIRECTOR (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Vermont Housing Finance Agency get its money?
Of $40.4 million in revenue in the fiscal year ending June 30, 2025, 0.0% came from contributions and grants and 88.0% from program service revenue (Form 990, Part VIII).
Is Vermont Housing Finance Agency a registered charity?
The IRS lists EIN 03-0239902 as a 501(c)(3) organization (supporting organization (509(a)(3))), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- FY2025: Form 990 for the fiscal year ending June 30, 2025, object 202631139349301193 · read the filing · XML
- FY2024: Form 990 for the fiscal year ending June 30, 2024, object 202531289349301328 · read the filing
- FY2023: Form 990 for the fiscal year ending June 30, 2023, object 202411229349301321 · read the filing
- FY2022: Form 990 for the fiscal year ending June 30, 2022, object 202341319349304214 · read the filing
- FY2021: Form 990 for the fiscal year ending June 30, 2021, object 202241249349302289 · read the filing
- FY2020: Form 990 for the fiscal year ending June 30, 2020, object 202101259349300945 · read the filing
All filings for EIN 03-0239902: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.