EVERNORTH LOAN FUND INC Charity Report

Public IRS 990 nonprofit record

EVERNORTH LOAN FUND INC

EIN 03-0315075 · Housing & Shelter (L20Z)

What they do

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.

Before you give

Should I give to this charity?

Easy charity check

Look at where the money went

Of every $100 spent, about $100.00 was reported for mission work. Use the spending picture below and ask what results that work produced.

Plain answer: A tax form cannot prove that a charity is doing good. It can show how the charity says it spent its money—and point out questions you should ask.

Basic facts we verified

IRS warning checkNo IRS revocation warning appears in this data.

Money report from 2024The charity has a recent tax report to read.

They explain their jobThe charity tells us what it is trying to do.

They name their leaders28 people are listed in the latest report.

You can reach themThey list contact information, so you can ask questions.

Money made simple

7.38%of revenue went to mission work100.0% of expenses · Program services

$7.38spent for every $100 of revenueRevenue covered expenses this year.

$39.32in assets for every $1 spent this yearSome assets cannot be spent right away.

95.4%of its money came from giftsOther money may come from services or investments.

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Who did you help? Ask for a recent story or report that shows real results.
What will my money do? Ask exactly what your gift will pay for.
Is this really the charity? Give only through its official website or confirmed phone number.

Pay context: The highest compensation shown in this filing is $47,174 for ELIZABETH WAGNER-BOUTIN (VP COMMUNITY INVESTMENTS). Compare pay with organizations of similar size and complexity.

Bottom line: Do not decide from a name, mission statement, or tax status alone. Look at where the money went, then ask what changed, who was helped, and what your gift will do. YouCanGiveBack does not endorse or grade organizations.

Money

Financial picture

Tax year 2024

A plain-language look at the latest Form 990 figures available. These numbers help you ask better questions; they do not, by themselves, rate whether a charity is good or bad.

$100revenue

How each $100 of revenue was used

The large number compares each expense with revenue. The smaller number shows its share of total expenses.

Total reported revenue$9,692,413

Mission workProgram services$715,7017.38% of revenue100.0% of expenses

ManagementOffice and general costs0.00% of revenue0.0% of expenses

FundraisingAsking for donations0.00% of revenue0.0% of expenses

Revenue left after expensesReported annual surplus$8,976,71292.62% of revenueShown in gray on the chart

Total expenses$715,7017.38% of revenue

Gray means reported revenue left after expenses for this filing year. It does not necessarily mean cash sitting in a bank account.

Has the pattern changed?

Colored bars = expense mix: how each year’s expenses were divided. Total expenses vs. revenue shows whether the charity spent less or more than it received. The current filing is first.

YearExpense mixDetails

2024CurrentExpense mix: 100.0% mission · 0.0% management · 0.0% fundraisingTotal expenses: 7.38% of revenue

2023Expense mix: 100.0% mission · 0.0% management · 0.0% fundraisingTotal expenses: 48.45% of revenue

2022Expense mix: 100.0% mission · 0.0% management · 0.0% fundraisingTotal expenses: 48.96% of revenue

2021Expense mix: 100.0% mission · 0.0% management · 0.0% fundraisingTotal expenses: 52.00% of revenue

2020Expense mix: 90.7% mission · 9.3% management · 0.0% fundraisingTotal expenses: 115.72% of revenue

2019Expense mix: 94.0% mission · 6.0% management · 0.0% fundraisingTotal expenses: 89.85% of revenue

2018Expense mix: 93.4% mission · 6.6% management · 0.0% fundraisingTotal expenses: 88.61% of revenue

2017Expense mix: 91.2% mission · 8.8% management · 0.0% fundraisingTotal expenses: 91.31% of revenue

Money in and money out

Revenue$9,692,413

Expenses$715,701

Annual surplus $8,976,712 Revenue was higher than expenses for this filing year.

Reported spending amounts

Mission work means the Form 990 category called program services. These are reported accounting categories—not an independent measurement of results.

Mission work (program services)$715,701 · 100.0% of expenses

See all reported dollar amounts

Revenue$9,692,413

Expenses$715,701

Assets$28,141,496

Income$9,692,413

Contributions$9,250,000

Mission work (program services)$715,701

Grants given$20,000

Average grant$10,000

Executive compensation (total)$390,800

People

Leadership and board

Tax year 2024

Names, titles, time, and compensation below are reported by the organization on its Form 990.

People reported as paid

Person and titleCompensation

ELIZABETH WAGNER-BOUTINVP COMMUNITY INVESTMENTS · 1 hrs/week $47,174Base · Other $47,174

NANCY OWENSPRESIDENT · 1 hrs/week $45,581Base · Other $45,581

JANET SPITLERTREASURER (END 12/31/24) · 1 hrs/week $43,436Base · Other $43,436

WILLIAM ERIC SCHMITTCOO · 1 hrs/week $41,544Base · Other $41,544

PAUL OTTOSONDIRECTOR OF CAPITAL MANAGEMENT · 1 hrs/week $37,232Base · Other $37,232

MICHAEL SPRAGUEDIRECTOR OF ASSET MANAGEMENT · 1 hrs/week $35,272Base · Other $35,272

SHERRIN VAILVP ASSET MANAGEMENT & PORTFOLIO INITIATIVES · 1 hrs/week $34,119Base · Other $34,119

JENNIFER OGDENVP HR & ORG. DEVELOPMENT · 1 hrs/week $32,902Base · Other $32,902

JULIA MORGANDIRECTOR OF COMMUNITY INVESTMENT RISK MANAGEMENT · 1 hrs/week $30,356Base · Other $30,356

KATHY BEYERVP REAL ESTATE · 1 hrs/week $24,654Base · Other $24,654

AMY DOHNERPROJECT MANAGEMENT · 1 hrs/week $21,484Base · Other $21,484

DAVID GRAVESCONTROLLER · 1 hrs/week $14,477Base · Other $14,477

Compensation alone does not tell whether pay is reasonable. Consider the charity’s size, work, location, and results.

See everyone listed on the board or leadership roster (28)

ELIZABETH WAGNER-BOUTINVP COMMUNITY INVESTMENTS

NANCY OWENSPRESIDENT

JANET SPITLERTREASURER (END 12/31/24)

WILLIAM ERIC SCHMITTCOO

PAUL OTTOSONDIRECTOR OF CAPITAL MANAGEMENT

MICHAEL SPRAGUEDIRECTOR OF ASSET MANAGEMENT

SHERRIN VAILVP ASSET MANAGEMENT & PORTFOLIO INITIATIVES

JENNIFER OGDENVP HR & ORG. DEVELOPMENT

JULIA MORGANDIRECTOR OF COMMUNITY INVESTMENT RISK MANAGEMENT

KATHY BEYERVP REAL ESTATE

AMY DOHNERPROJECT MANAGEMENT

DAVID GRAVESCONTROLLER

CYNTHIA LACASSEEXECUTIVE VP & CPO

KELLY LAFLAMMEBOARD MEMBER

WALT GREINERBOARD MEMBER

ANDREW WINTERBOARD MEMBER

ANNA ADACHI-MEJIABOARD MEMBER

CHARLIE BAKERCHAIR

MIKE ANTHONYBOARD MEMBER

CHRIS MILLERBOARD MEMBER

MICHAEL CLARKEBOARD MEMBER

MARC LANDRYBOARD MEMBER (END 8/31/24)

KARYN HALEASST TREASURER

KARA SWEENEYVICE CHAIR

AMY DEMETROWITZBOARD MEMBER

JOHN VOGELBOARD MEMBER

CULLEN RYANSECRETARY

DAVE BIRKHAHNBOARD MEMBER

About this charity

Recognized since: January 1989
Location: 100 BANK STREET SUITE 400, BURLINGTON, VT 05401
County: Chittenden
In care of: RICH GROGAN
Primary officer: RICH GROGAN, TREASURER

How to reach them

WebsiteVisit the charity’s website Phone(802) 863-8424

Filing and classification

Latest tax year: 2024
Tax period began: January 1, 2024
Return type: 990
Tax preparer: MCSOLEY MCCOY & CO
NTEE classification: Housing & Shelter (L20Z)
IRS tax category: Other Community Housing Services
Grant-giving organization: Yes