Evernorth
- Company typePrivate
- Founded2020
- HeadquartersBurlington, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
Evernorth firmographics
Firmographics- Name
- Evernorth
- Legal name
- Evernorth
- Website
- https://evernorthus.org
- Company type
- Private
- Founded year
- 2020
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Ownership category
- akta.pro rank
Evernorth industry classification
Industry- Product category
- Affordable Housing Finance and Community Development
- NAICS
- Real Estate Property Managers (53131), Rental and Leasing Services (532), Trusts, Estates, and Agency Accounts (52592)
- SIC
- Real Estate (6500), Security Brokers, Dealers & Flotation Companies (6211)
- akta.pro primary industry
- Affordable Housing & Community Development (Housing, Community Land Trusts) (BPAGALAC)
Keywords
Where Evernorth is headquartered
LocationHeadquarters
- HQ city
- Burlington
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Evernorth business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Tax Credit Syndication Fees: Evernorth generates revenue by syndicating federal Low-Income Housing Tax Credits (LIHTC), historic tax credits, and energy investment tax credits, raising equity from banks and institutional investors to finance affordable housing developments. Housing Vermont (now part of Evernorth) has raised more than $255 million in equity through this channel.
- New Markets Tax Credit (NMTC) Allocation & CDE Activity: As a qualified rural Community Development Entity, Evernorth Rural Ventures allocates federal and state NMTCs and earns related fees; the program has created favorable financing in excess of $240 million for 29 economic development projects in low-income areas. Recent awards include $70 million from the U.S. Treasury CDFI Fund and $10.4 million from the Finance Authority of Maine.
- Evernorth Loan Fund Interest Income: Below-market interest rate loans to developers and affordable housing owners for development and preservation of affordable housing in Maine, New Hampshire, and Vermont.
- Asset Management & Consulting Fees: Asset Management services acting as owner representative for properties developed and owned in Vermont, plus syndicator oversight across Maine, NH, and VT, including reporting, compliance, and consulting services to affordable housing developers.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | — | Below-market loan fund interest rates for affordable housing developers |
| Other | — | Multi-investor pooled LIHTC equity funds (e.g., Housing New England Fund VII) |
Go-to-market motion3 records
Distribution channels4 records
Marketing channels7 records
Evernorth product offering
Product offeringCore offering
Evernorth is a nonprofit organization that develops, finances, and syndicates affordable housing and community investments across northern New England (Maine, New Hampshire, and Vermont). It raises and deploys equity capital through Low-Income Housing Tax Credit (LIHTC) pooled funds and New Markets Tax Credit (NMTC) allocations, provides below-market loans, owns and co-develops affordable rental properties, and delivers asset management, energy efficiency, and consulting services to affordable housing developers and institutional investors.
Product overview
Evernorth is a nonprofit organization delivering a unified affordable housing and community investment platform rather than a single software product. Its core offering is Affordable Housing Development — building and preserving more than 17,000 affordable homes across northern New England — supported by a portfolio of financial products and services that raise and deploy equity and debt capital: the Evernorth Funds (multi-investor LIHTC equity funds such as Housing New England Fund VII and the 481 Fund II), the Evernorth Loan Fund (below-market pre-development and project financing), Evernorth Rural Ventures (New Markets Tax Credits and a $70M federal / $10.4M Maine FAME allocation), and Asset Management Services that monitor the construction, lease-up, and ongoing compliance of every property across Maine, New Hampshire, and Vermont. Layered on top are operational programs and technology that improve the resident experience: Energy Services, the Parsons Platform cloud-based Data Acquisition System (predictive analytics for building energy optimization), Evernorth Connections (resident programming, partner support and research including annual Tenant Demographics reports), Digital Services (free public Wi-Fi piloted in 15 developments), and scholarship programs (the Robert Gensburg Scholarship Fund for residents and the Investing in Your Success Scholarship Fund for partner staff). Together these products form a vertically integrated nonprofit syndication and development company serving low- and moderate-income communities.
Differentiator
Problem solved
Functional benefit
Brands
- Evernorth Rural Ventures: Qualified rural Community Development Entity that uses New Markets Tax Credit resources to support investment in the economic, environmental, and social well-being of northern New England communities.
- Evernorth Loan Fund
- Parsons Platform
- Evernorth Connections
Products and services
- Affordable Housing Development Develops and preserves affordable rental housing for low- and moderate-income people across northern New England. Evernorth co-owns and co-develops properties with local housing trusts and developers, having built more than 17,000 affordable homes and apartments across Maine, New Hampshire, and Vermont.
- Evernorth Funds (Housing New England LIHTC Equity Funds)
Quantifiable outcome
- $1.6 billion+ in equity capital raised and deployed for affordable housing across northern New England
- +6 more outcomes
Companies that use Evernorth
Customer profileNamed customers24 records
Segments5 records
Ideal customer profiles3 records
Evernorth technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration1 record
AI capability4 records
Feature3 records
Evernorth partnerships and signals
Strategic signalPartnerships
16 partnerships are on record, tiered core, flagship and minor.
- Vermont Gas Systems (VGS)corePartnered with Evernorth and Champlain Housing Trust to install geothermal energy systems at Riggs Meadows, a 44-unit permanently affordable housing development in Hinesburg, Vermont. VGS covers an estimated $275,000 in up-front in-ground infrastructure costs; Evernorth and CHT pay for interior equipment. Construction slated to begin in 2026 with occupancy in 2027.
- Downstreet Housing & Community DevelopmentflagshipRecurring co-owner and co-developer with Evernorth on multiple affordable housing developments across central Vermont. Co-developed Marsh House Apartments (26 permanently affordable units in Waterbury, VT, opened June 3, 2026) and Fox Run Apartments (30 affordable units in Berlin, VT, opened August 6, 2025). Downstreet also co-owns Sylvan Woods (22 LIHTC units in Stowe, VT) with Evernorth. Downstreet serves Washington, Orange, and Lamoille counties.
- Champlain Housing Trust (CHT)flagshipEvernorth's most frequent co-development partner on signature Vermont projects including Bay Ridge (94 units in Shelburne, VT), Cambrian Rise (40 units in Burlington, VT), Riggs Meadows (44 units in Hinesburg, VT - geothermal project), Garden Street Apartments, Addison Housing, and the Old North End Community Center. CHT's representative Amy Demetrowitz sits on Evernorth Rural Ventures' Governing Board.
- Windham & Windsor Housing Trust (WWHT)coreCo-owner and co-developer with Evernorth on Central & Main Apartments, a 25-unit highly energy-efficient permanently affordable apartment development on Main Street in downtown Windsor, Vermont (grand opening July 1, 2025; AGC/VT Best Builders Award winner for New Green Construction in 2025).
- Cornerstone Housing PartnerscoreCo-owner and co-developer with Evernorth on Marble Village Apartments, a 24-unit affordable housing community in West Rutland, Vermont (grand opening November 17, 2025).
- Cathedral SquarecoreCo-owner and co-developer with Evernorth on Kelley's Field II, a 24-unit permanently affordable apartment community for older adults (55+) in Hinesburg, Vermont (grand opening June 6, 2025).
- Vermont Housing Finance Agency (VHFA)coreAdministers federal tax credit equity investments on Evernorth's affordable housing developments. Provided $768,292 in permanent loan financing for Marsh House Apartments in Waterbury, VT. Source of tenant data for Evernorth's annual Tenant Demographics report.
- Vermont Community Loan FundcoreWill Belongia represents the Vermont Community Loan Fund on Evernorth Rural Ventures' Advisory Board. Co-financing partner on Laraway Youth & Family Services project.
- Avesta HousingcoreJohn Egan represents Avesta Housing on Evernorth Rural Ventures' Advisory Board. Avesta Housing is also the management agent and local development partner on multiple Evernorth properties including Cousens Apartments (28 family units in Kennebunk, ME) and Avesta Meadows II (48 senior units in Hampton Falls, NH).
- Vermont Garden NetworkcorePartnership to deliver Evernorth's Community Garden Program, providing nearly 100 residents across Evernorth-supported housing with everything needed to start and maintain a garden, including cooking demos and nutrition workshops.
- River ArtscoreLocal nonprofit partner that co-created an art installation at Village Center Apartments with residents through Evernorth Connections.
- Children's Literacy FoundationcoreSponsors site-based library openings with Evernorth Connections as part of neighborhood events programming for residents.
- Upper Valley ServicesminorDownstreet partner that provides individualized support and services for residents of Marsh House Apartments with intellectual or developmental disabilities.
- Good Samaritan HavenminorDownstreet partner that provides individualized support services for residents of Marsh House Apartments who are experiencing or at risk of homelessness (5 of the 26 apartments are reserved for this population).
- Vermont Student Assistance Corporation (VSAC)coreAdministers applications for the Robert Gensburg Scholarship Fund for Evernorth residents. Contact: [email protected], (802) 654-3770.
- NMTC CoalitioncoreIndustry coalition that highlights Evernorth Rural Ventures investments in its national report (December 2024), showcasing three recent ERV investments across Maine, New Hampshire, and Vermont.
Scale indicators12 records
Recent moves6 records
Expansion highlights5 records
Evernorth competitors and assessment
Company assessmentDirect peers
- Massachusetts Housing Investment Corporation: Boston-based nonprofit CDFI and NMTC allocatee that co-invests alongside Evernorth Rural Ventures on multiple NMTC deals (Weidmann, GS Precision, Greater Burlington YMCA, Barre City Place). Directly comparable as a regional NMTC/LIHTC syndicator serving the broader New England market.
- Vermont Housing Finance Agency (VHFA): State housing finance agency that administers federal and state housing tax credits in Vermont and is a direct implementation partner on Evernorth projects (e.g., $768K permanent loan for Marsh House Apartments). Comparable mission and overlap in capital stack assembly, though state-chartered rather than nonprofit.
- Vermont Community Loan Fund: Montpelier-based nonprofit CDFI providing loans, investments, and advice to Vermont businesses, affordable housing developers, and community organizations. Sits on Evernorth's Advisory Board and co-finances projects (e.g., Laraway Youth & Family Services). Closely comparable mission and product set.
- Coastal Enterprises, Inc. (CEI): Brunswick, Maine-based nonprofit CDFI providing capital and business advisory to under-served communities and small businesses across Maine and northern New England. Comparable in providing below-market loans, NMTC allocations, and equity to rural businesses and affordable housing developers.
Broad incumbents
- Enterprise Community Partners: One of the largest national nonprofit CDFIs and affordable housing developers/syndicators. Comparable in its LIHTC syndication, NMTC allocation, and lending activities, though operating at significantly greater geographic and capital scale than Evernorth.
- Local Initiatives Support Corporation (LISC): National nonprofit CDFI that invests in affordable housing and community development across rural, suburban, and urban markets. Comparable syndication, lending, and NMTC activities, with active programs in Maine, New Hampshire, and Vermont that overlap Evernorth's territory.
- The Reinvestment Fund: National CDFI that finances affordable housing, health, education, and community development, including NMTC allocations and LIHTC equity. Comparable syndication and capital deployment model, though at significantly larger geographic and capital scale than Evernorth.
Regional players
- Maine State Housing Authority (MaineHousing): State housing finance agency for Maine that administers federal LIHTC allocations and below-market mortgage products. Directly comparable function to Evernorth in Maine, including overlap on Lewiston-area LIHTC deployments and HUD Choice Neighborhood initiatives.
- New Hampshire Housing Finance Authority: State housing finance agency for New Hampshire that allocates federal and state housing tax credits. Operates in one of Evernorth's three core states with overlapping affordable housing development pipeline and similar LIHTC syndication role.
- Vermont Housing and Conservation Board (VHCB): Vermont state agency that finances affordable housing and land conservation, including federal HOME funds and state appropriations. Major funder of Evernorth projects (e.g., $5.7M+ to Marsh House Apartments) and direct comparable in capital stack assembly for Vermont affordable housing.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Evernorth social profiles
Digital presenceEvernorth financial estimates
Financial estimateRevenue estimate
Valuation estimate
Evernorth leadership team
Management profileNumber of profiles
Profiles6 records
Evernorth subsidiaries and ownership
Company hierarchySubsidiaries1 record
Evernorth funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Evernorth M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Evernorth
What does Evernorth do?
Evernorth is a nonprofit organization that develops, finances, and syndicates affordable housing and community investments across northern New England (Maine, New Hampshire, and Vermont). It raises and deploys equity capital through Low-Income Housing Tax Credit (LIHTC) pooled funds and New Markets Tax Credit (NMTC) allocations, provides below-market loans, owns and co-develops affordable rental properties, and delivers asset management, energy efficiency, and consulting services to affordable housing developers and institutional investors.
Is Evernorth a public or private company?
Evernorth is a private company. It is classified as nonprofit foundation owned and is currently operating.
When was Evernorth founded?
Evernorth was founded in 2020. It employs 11 to 50 people.
Where is Evernorth based?
Evernorth is headquartered in Burlington, United States, in the North America region.
How does Evernorth make money?
Four revenue lines are on record. Tax Credit Syndication Fees are the primary driver. The others are new Markets Tax Credit (NMTC) Allocation & CDE Activity, evernorth Loan Fund Interest Income and asset Management & Consulting Fees.
Who are Evernorth's main competitors?
Direct peers on record are Massachusetts Housing Investment Corporation, Vermont Housing Finance Agency (VHFA), Vermont Community Loan Fund and Coastal Enterprises, Inc. (CEI). Broad incumbents are Enterprise Community Partners, Local Initiatives Support Corporation (LISC) and The Reinvestment Fund. Regional players are Maine State Housing Authority (MaineHousing), New Hampshire Housing Finance Authority and Vermont Housing and Conservation Board (VHCB).
Does Evernorth have an API?
No public API is recorded for Evernorth.
What industry is Evernorth in?
Evernorth's product category is Affordable Housing Finance and Community Development. Its primary akta.pro industry code is BPAGALAC, Affordable Housing & Community Development (Housing, Community Land Trusts). Its NAICS code is 53131 and its SIC code is 6500.