ISLANDHOUSINGTRUST

2017 ANNUAL REPORTPartnership

Scott's Grove Ground Breaking, West Tisbury

. MV Land Bank we are creating a new neighborhood of 20 rentalapartments at Kuehn’s Way while preserving 9-acres of land.

. Town of Tisbury we are proposing 6 new ownership homeson Greenwood Avenue; purchasing a 16 bedroom/bathroom Hanover House Inn this fall; and partnering with a local design/build company to create 5 elderly condos.

This transformational progress in addressing the housing needs of our island would not be possible without you and all those who generously donated $1.5 million that helped leverage an additional$2.4 million in town and state matching grants in 2017.

We are so grateful. We couldn’t have accomplished any of this without all of you.

Philippe Jordi Richard LeonardExecutive Director Board President

DEAR FRIENDS,

Safe, stable, year-round housing is a basic need for families and communities everywhere. In high cost resort communities like Martha’s Vineyard, the lack of housing within financial reach of working families has reached crisis levels. This directly impacts

the economic health of our island.

Strong partnerships build great neighborhoodsBuilding community through developing and building affordable homes and apartments for year-round residents is the mission of the Island Housing Trust. To produce housing at the levels needed, partnerships are critical. Over the past 13 years we have formed strong partnerships with private donors, local businesses, other non-profits, the six island towns and state agencies. Thanks to the trust, cooperation, dedication and generosity of our partners we have become the leading non-profitdeveloper and builder of affordable housing on Martha’s Vineyard, creating over 80 permanently affordable homes and rental apartments.

The power of partnershipRecognizing that old strategies and modest goals were not going to get us where we need to be, last year we launched our Vison 2020 to jump start our efforts – an ambitious goal of creating 100 new homes and rentals for 300 working island residents by the end of 2020.

Thanks to your donations and our partners, we are two thirds of the way there! We currently have 70 ownership and rental solutions in the pipeline. In partnership with the:

. Town of West Tisbury we will be completing a neighborhood of 9apartments at Scott’s Grove this summer; and working with a private property owner to create 12 apartments for municipal employees.

. Town of Aquinnah we will be selling 2 homes at Smalley’s Knoll this summer.

“ One of the ways I measure how badly people want things is how much of your money are you willing spend, because I know how much of mine you’re willing to spend,” she said with a laugh. “You guys put up your money, put up your land, put up your time, put up your effort, so we are just so excited to be here and help you bring this alltogether.”

Chrystal Kornegay, Executive Director MassHousingat the Scott’s Grove Ground Breaking in West Tisbury

85% Grants &Donations

8% Tax Credits

1% Earned Revenues 6% Rents & Ground Lease

76% Housing Development*

11% Rental Management & Stewardship

14% Operations

TOTAL INCOME$3,833,559

TOTAL EXPENSES$1,394,230

FINANCIAL REPORT2017 Financial Highlights• 9 rental apartments in West Tisbury under construction

• 2 single family houses in Aquinnah under construction

• $2.3 million raised in public grants and private donations beyond expenses in 2017 that will offset development costs in 2018

• Total net assets increased by 23% to $12.5 million

• Purchased one-acre property to create 6 townhouses in Vineyard Haven

• Launched Leadership Circle with 10 founding members who have pledged $100,000 or more

• Secured $1.5 million in low-cost, private revolving lines of credit for property acquisition through new Make It Happen Fund

Our audited financial report can be found at www.ihtmv.org *includes $539,875 in fixed assets from project development

VISION 2020MEASURING SUCCESS

INVESTMENT GOAL$24 MILLION32% RAISED

HOUSING GOAL100 HOMES

PRIVATE DONATIONS $3.6 MILLION RAISED $8.5 MILLION GOAL

TOWN GRANTS $2.5 MILLION AWARDED $5 MILLION GOAL

STATE GRANTS $900,000 AWARDED $5 MILLION GOAL

BANK & PRIVATE FINANCING $600,000 SECURED $5.5 MILLION GOAL

70 TOWARDS GOAL11 UNDER CONSTRUCTION

20 PERMITTED39 PREDEVELOPMENT

For more information on how Planned Giving works, visit ihtmv.org/bequests

THE PINCKNEY LEGACY CIRCLE LEAVE A LASTING LEGACY ON THE VINEYARD

Join these generous donors in the Pinckney Legacy Circle: .Lorraine & Napoleon Pinckney .Clare & Robert Dudley Harrington .Wendy Andrews .Anonymous (2)

Ralph and Olivia Jenney, the Edgartown neighborhood Jenney Way was built on their land in their backyard.

“ The hearts of Island people are focused on personal responsibility, thriftiness, kindness and neighborliness... And we felt very strongly about helping these connections continue to survive on the Island, where more and more people are transient.” Olivia Jenney, at the Jenney Way, Edgartown ribbon cutting

“ We’re both in the business of preventing homelessness for all species, bi-peds included. ”

Pam Goff,Chilmark Land Bank Commissioner

“ Our community is going to be a more vibrant, more stable, more

healthy place to live.”

Larry Shubert, West Tisbury Affordable Housing Committee, Chair

at the Scott’s Grove ground breaking in West Tisbury

Martha’s Vineyard Land Bank partners with IHT to create permanently affordable conservation based housing. The 3 apartments at Sepiessa in West Tisbury are just one example.

The Island Housing Trust is fortunate to have the support of many individuals, businesses, foundations, and Island towns, who have made gifts, grants, pledges, in-kind donations, and volunteered in support of our mission. The following is a list of multi-year donors, supporters and volunteers who contributed to the Island Housing Trust in 2017. If you have been inadvertently omitted or if we have misspelled your name, please accept our sincere apology and let us know.

DONATIONS OF $500,000 & UP:

AnonymousMassachusetts Department of Housing and Community DevelopmentTown of West Tisbury (CPC)

DONATIONS OF $100,000 - $499,999

Sarah & Jacob DavisHappy & Bob GreenTown of Tisbury (CPC)

DONATIONS OF $25,000 - $99,999

AnonymousSteve & Constance BernierCharlesbank HomesMarilyn Meyerhoff & Sam FeldmanLinehan Family Foundation, INC.Alysa & Paul StaffordTown of Chilmark (CPC)Town of Oak Bluffs (CPC)Diana Barrett and Bob Vila for The Fledgling FundWyss Center for Innovation

DONATIONS OF $10,000 - $24,999

Anonymous (3)The Rose and Lee Epstein Family Giving FundCape Cod Five Cents Savings Bank Charitable Foundation

Judy & Tad Crawford (ExxonMobil Foundation —Mobil Retiree Matching Gift Program)Delacour Family FoundationKay & Buck GoldsteinCatherine Samuels & Jeremy HendersonCarla & Mark HutkerSarah Glazer Khedouri & Frederick Nessim KhedouriKaren Kohlberg Davis & Dave DavisSan & Jan NiessenJudith ObermayerElizabeth & James PickmanLee & Alec SargentWest Tisbury Affordable Housing Trust Fund

DONATIONS OF $5,000 - $9,999

AnonymousMary Kate & Richard BluesteinHolly & Richard BonomoHonorable Ann W. Brown and Donald A. BrownGalloway Family FoundationCrane ApplianceMolly & Eric GlasgowElizabeth HarrisHelen Benham FoundationMinnie Baylor-Henry & Brent HenryLisina HochJanet & James JonesDelos LanderPia & Richard LeonardCatherine & Andrew Marcus

Anne & Brian MazarEstate of Lorraine & Napoleon PinckneyLorre Polinger & Donald WertliebLupi & John RobinsonSandpiper RealtyJudith Scheuer & Joseph MellickerThe Dickinson Family FoundationTown of Aquinnah (CPC)Wendy Wolf & Jack Behrle

DONATIONS OF $1,000 - $4,999

AnonymousCohn Family FundElsie & Stever AubreyAnne & Kenneth BaumBerger Family FoundationElizabeth Potter & Joseph BowerAlan BrigishPamela & Lee BrombergTerry Appenzellar & John CaldwellCape and Islands United WayDebra CedenoEllen & Andy CelliElizabeth O'Connor & Jonathan ChatinoverDoreen & David ChemerowCathy Young & James ChudyPam & Chip CoblynColonial Reproductions, Inc. - General ContractorsCandace & Dennis DaRosaMarjorie Dolan & Veronica MurryO

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DONATIONS OF $1,000 - $4,999 (cont.)

Dianne & Thomas DurawaOrla & Keith EstesFarm Neck FoundationSusan & Lloyd FellerLinda & Robert ForresterBonnie & Sid FranksCathy & Peter FreemanFriends of Jack and JillSusan Alexander & James GammillBrook Gassner & Jay GouldIrina & Lang GerhardSusan Heilbron & Andrew GoldmanHoney & Keith HellerBeebee Horowitz & Stuart KendallAnnabelle HuntonHutker ArchitectsDeborah & Duane JacksonDr. Michael Jaff & Mrs. Debra JaffRuth Grace JervisSharon & Tom JohnsonJoy & Douglas KantBari Boyer & Marshall KatzenPatty & Rob KendallSecretary John KerryDoreen KinsmanCassandra & Phillip Clay (Kresge Foundation)Morgan Hodgson & William LakeLapman Family FundSusan & Marc LevineJean LinceSusan Scheuer & Jonathan LipnickJoseph MahoneyJoan & James MalkinRobert MasonJudith & Robert MaynesMelissa & John McDonaldJanet & Ken Michel

Elaine MillerHoward MillerJudie & Fred MopsikJacqui & Jeff MorbyKathy & Rockne MullensMary & Sherif NadaMickie & Don NelsonMiryam Gerson & Henry NeiderGinger Norton & Doug RuskinSusan Eckstein & Paul OstermanElaine & Dan PaceAndy PalmerJoe Parham Jr.Kathleen Cameron & William ParryLeslie PearlsonBeatrice PhearToni Robinson & Michael PloufPoint B RealtyMary Elizabeth Pratt & Philip ScipioRauch Foundation — designated by G. Wood FrankMargaret & Gar RichlinAbby Rockefeller & Lee HalprinLady Jill Shaw Ruddock & Sir Paul RuddockSuzanne Boyer & Allen RuggFaye & George Russell (Tufts Health Plan Foundation)Roberta & Edward ScalletBarbara Seidman & Kim FusonSeth Williams Plumbing & HeatingSusan SilkAnn Silverman & Israel FridmanMargaret & Peter SnajczukJoyce & Geoffrey StewartBetsy CornwallMarney & Richard TooleJohn Parker WillisLee Wolf & Jordan CohenCatherine Woolner & Dan Croteau

Felice & Henry YagerLolly Delli-Bovi & William Zucker

DONATIONS OF $1 - $999

Mercedes AgardAmazon SmileRick & Caroline AndersonJames AnthonyLindesay AquinoRussell & Cathaleen AshtonSandra & Steve AtwoodRenee & Bruce BalterMatthew BarileJoann Eccher & Derrill BazzyVivian BeardWendy & Daniel BenderRichard BennettLouise & Stephen BerryJana & Richard BertkauKristin & Rick BidstrupJill & Robert BownEmily BramhallElizabeth and Kib BramhallMakenzie Brookes & Christopher AndersonJulia BurgessKatherine BurkeHope & Brock CallenJulia Carlton MackayJoseph CarlucciRichard ChasinChilmark ChocolatesChristine Conley & Matt CoffeyJoanne Casper & Wendell ColsonRoger CookNancy Rumul & John CoskieSheryl & Ron Dagostino (State Street Foundation Matching Gift Program) Marge Leuning & Jeff DandoMargaret DeVane Logue

Cheryl & Frank Doble, Jr.Linda Pape & David DollenmayerLinda & John DonovanSarah Dingledy & Dan DoyleDoyle Construction CorporationMary Anna EatonAnn ElleryAlysa McDaniel & Craig EmdenBeverly & Morton FeareyFederated ChurchRosalind & Howard FeinsteinBetsy & Jesse FinkCaroline FlandersJohn FlenderJennifer & Joseph FragosaAnn FreedbergJudy & Leo GafneyAmy & Ted GavinJudith & Bruce GoldenRoberta & Richard GrossAlyson GuthrieChristopher HallAlice HallThomas HallahanArthur Hardy-DoubledayMargaret HarrisVictoria HaeselbarthJean HayHarold R. Hiser Jr.Sonja Ellingson Hout & Thomas HoutEric HughesAnn HuntMark Hurwitz & Susan PuciulRobert IadiciccoAdriana & Bruce IgnacioJennifer & Newell Isbell ShinnIsland Cove Mini GolfGenevieve & Michael JacobsMargaret Harrison & Wayne Johnson

DONATIONS OF $1 - $999(cont.)

Michael JolyJoan & Stephen KassCathy Walthers & David KelliherAnna Laszlo & Gil KerlikowskeEleanor & John KetchamChrissy & Drew KinsmanMaria Krokidas & Bruce BullenMona & John KronholmSuzanne LanzoneElle LashRoselle & Howard LevyNaomi LindahlMargaret LittlejohnJulia LivingstonJoan LonerganSheila M. LyonsTheresa & Paul ManningLiza & Steve MayCathy & Scot McCullochHara Dretaki & Keith McGuireBethany MendenhallAmelia Salzman & Randal MilchDr. Melanie MillerMary B. MillerJulia & Dewitt MorganVirginia MorrisNancy MorrisMarcia Mulford Cini & William CiniJane & Randolph NaylorNora & Tony NevinAtheline NixonDarlene O'NeillJeanne & Robert OgdenMarlene & Theodore ParkerPatricia Parker

Janet & Robert PaulYael & Zeev PearlJenna PetersielSusan PhelpsSandra & Paul PimentelCassie Murray & Bill PlapingerAlan PoritzEllen & Richard PriceJohn & Pat KendzierskiSharon Smith PurdyKatherine PutnamAbby Rabinovitz & Richard StuartChristeen RasmussenSarra & Daniel RealeStephanie & Ken RoachePatti & Michael RobertsJohn RobertsGeoffrey RoseRotary Club of Martha's VineyardJude & Richard RoweSam & Robert SawyerCatherine SbriglioThalia & John ScanlanAudrey SchneiderKathleen & Paul SeverinoLeigh SmithCathy Weiss & Ed SolomonThe Villard FamilyPrudence SteinerWendy SwolinksyTania ZouikinThompson Builders, INC.Penny Uhlendorf & Scott StephensHeidi VanderhoopPhyllis Vecchia & Barney ZeitzMargaret WalbridgeCarolyn & Philip WallisTamara Pittman & Benjamin Warnke

Heidi Wason & Robert Wason IVDorothy & Herbert WassWendy WeldonAlfred Woollacott, IIIPatti Young

GIFTS IN HONOR & IN MEMORY

Gift made in honor of our parents, Nancy and Jerry KohlbergJacqui & Wayne Budd in honor of Phil and Sandy ClayMarky Kate & Richard Bluestein in honor of Bob KuehnIsabel & Rafael Goldstein in honor of Robert & Happy GreenCate Woolner & Dan Croteau in honor of Vicki & Tom SamuelsVictoria & Henry Schilling towards the establishment of the A. Henry Schilling Fund for Affordable HousingLinda Saker in honor of Sarra RealeDorothy Savarese in honor of Richard & Pia LeonardSarah & Frank Shepard in memory of Bridge CommonsJean Tatelbaum in honor of Samuel TatelbaumFancine & Leo Frame in memory of Douglas EwingElizabeth Adams & Cliff Lasser in memory of Bettye Maxine Bell - Mother of Robin, Judy, and Kate PowellElaine Miller in honor of Iva HochstimNelia & Chris Decker in honor of Allen DeckerGift in Memory of Lucas Kaempfer

MAKE IT HAPPEN FUNDDeborah & Andy RappaportKaren & Dave Davis

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(multi-year pledges of $100,000 and over)

Sarah & Jacob DavisHappy & Bob GreenMarilyn Meyerhoff & Sam FeldmanPamela Kohlberg & Curt GreerKuehn Charitable FoundationLinehan Family FoundationAlysa & Paul StaffordDiana Barrett and Bob Vila for The Fledgling FundWyss Center for InnovationNatasha & Dirk Ziff

INVESTOR’S CIRCLE(multi-year pledges of $25,000 to $99,999)

Holly & Richard BonomoJudy & Tad CrawfordDelacour Family FoundationMolly & Eric GlasgowKay & Buck GoldsteinCatherine Samuels & Jeremy HendersonSarah Glazer Khedouri & Frederick Nessim KhedouriDelos LanderPia & Richard LeonardCatherine & Andrew MarcusAnne & Brian MazarSan & Jan NiessenElizabeth & James PickmanLorre Polinger & Donald WertliebSandpiper RealtyLee & Alec SargentAlysa & Paul StaffordWendy Wolf & Jack BehrleAnonymous

SUPPORTERS CIRCLE(multi-year pledges of under $25,000)

Sandra & Steve AtwoodAnne & Kenneth BaumMary Kate & Richard BluesteinMakenzie Brookes & Christopher AndersonPam & Chip CoblynChristine Conley & Matt CoffeySheryl & Ron DagostinoCandace & Dennis DaRosaDianne & Thomas DurawaMary Anna EatonCaroline FlandersLinda & Robert ForresterCathy & Peter FreemanIrina & Lang GerhardSusan Heilbron & Andrew GoldmanChristopher HallArthur Hardy-DoubledayJean HaySonja Ellingson Hout & Thomas HoutDr. Michael Jaff & Mrs. Debra JaffMargaret Harrison & Wayne JohnsonRandi Baird & Philippe JordiJoy & Douglas KantCathy Walthers & David KelliherDoreen KinsmanChrissy & Drew KinsmanCassandra & Phil ClayMorgan Hodgson & William LakeLapman Family FundNaomi LindahlSusan Scheuer & Jonathan LipnickMargaret LittlejohnJulia LivingstonJoan & James Malkin

Theresa & Paul ManningRobert MasonHara Dretaki & Keith McGuireJanet & Ken MichelElaine MillerHoward MillerJudie & Fred MopsikJacqui & Jeff MorbyVirginia MorrisSusan Eckstein & Paul OstermanJoe Parham Jr.Leslie PearlsonPoint B RealtyMary Elizabeth Pratt & Philip ScipioFaye & George RussellRoberta & Edward ScalletBarbara Seidman & Kim FusonSusan SilkMargaret & Peter SnajczukHeidi VanderhoopPhyllis Vecchia & Barney ZeitzJohn Parker WillisFelice & Henry Yager

PINCKNEY LEGACY CIRCLE

Wendy AndrewsRobert Dudley HarringtonLorraine & Napoleon PinckneyAnonymous (2)

WORKFORCE HOUSING PARTNERSHIP

Island Source MVFeiner Real EstateNelson Mechanical DesignRockland TrustCape Cod Five Cents Savings Bank

BUSINESS SUPPORTERS

Big SkyBrush, Flanders & MoriartyCronig's MarketDaRosa'sDottie's PottiesEmily DayFriends of WMVYGHP MediaHayes Design StudiosIsland Co-housing Community AssociationJeremy BerlinJulie RoadsLamberts Cove InnLawyers Clearing HouseMartha's Vineyard TimesMartha's Vineyard InsuranceMorrice FloristNE Kelly & AssociatesMonica Vineyard Raw HoneyMueller Plumbing and Heating, IncMV Beach Street Realty LLCNE Kelly & AssociatesNixon Peabody LLPO'Brien Property ManagementRandi Baird PhotographyTisbury PrinterVineyard GazetteWCAI

AMBASSADORS

Makenzie Brookes & Christopher AndersonPhilippe Jordi & Randi BairdWendy Wolf & Jack BehrleCandace & Dennis DaRosaPia & Richard LeonardIrina & Lang GerhardMitzi Pratt & Flip ScipioCassandra & Phil ClayLeslie Pearlson & Dee LanderLolly Delli-Bovi and Bill ZuckerBreeze Hodson Tonnesen & Mark TonnesenMelissa & John McDonaldDoug RuskinJim FeinerStephanie RoacheCatherine Samuels & Jeremy HendersonCaroline FlandersDebra CedenoPeggy & Peter SnajczukHelene & Mark LapmanDiana Barrett & Bob VilaCathy Carlson & Tom Galloway

VOLUNTEERS

Sophie AbramsAriana BinneyKaila BinneyMarlene DeStephanoDylan HodsonJordan HodsonWayne HodsonBarbara HoffmanElie JordiMiles JordiAnn MilsteinEmily MilsteinClaudia MurilloOliver OsnossFrank PicconeTrey RasmusenGuinn RebelloMark RippaJosh RobinsonLupi RobinsonQuinn SavardDwi UpoleFranny Werthwein

APPRECIATION

GET INVOLVEDTo learn more about these options, visit www.ihtmv.org or contact us directly info@ihtmv.org 508-693-1117

You can get involved and help create more permanently affordable workforce housing. Here are all the ways you can help!

. Become a Workforce Housing Partner

. Donate to our spring or year-end campaigns

. Participate in the Community Investment Tax Credit program

. Make a Legacy gift or pledge

. Ask your employer to make a matching gift

. Donate products or services to a project or an event

. Join the Leadership Circle

. Invest in the Make It Happen Fund

left: Phil Clay, Keynote Speaker at the 2016 Summer Benefit Brunchphoto by Ray Ewing

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IPS We are proud to be affiliated and partners with the organizations below. Their advice, leadership and support make our work possible.

STAFF & BOARD

Philippe Jordi, Executive DirectorDerrill Bazzy, Project DirectorBreeze Hodson Tonnesen, Communications Director,

Stewardship Program ManagerChristopher Anderson, Development ManagerFaren Worthington, Development Associate

Richard Leonard, PresidentDoug Ruskin, Vice PresidentDan Seidman, TreasurerPeter Freeman, Clerk

Bob GreenDebra CedenoDelos LanderJulianne VanderhoopWendy Swolinzky

GOVERNANCE COMMITTEE

Richard Leonard, ChairDoug RuskinWendy SwolinzkyJulianne VanderhoopPeter Freeman

EXECUTIVE COMMITTEE

Richard Leonard, PresidentDoug Ruskin, Vice PresidentDan Seidman, TreasurerPeter Freeman, Clerk

FUNDRAISING COMMITTEE

Delos Lander, ChairBob GreenWendy WolfElaine Miller

PROJECT DEVELOPMENT COMMITTEE

Debra Cedeno, ChairMatt CoffeyCheryl DoblePam Swan

COMMUNICATIONS COMMITTEE

Doug Ruskin, ChairLupi RobinsonSusan Silk

STEWARDSHIP COMMITTEE

Dan Seidman, ChairElizabeth Loucks

photography by Randi Baird Photographylayout and design by Hayes Design Studios

Cover photo: Cynthia Mitchell West Tisbury Selectman , Chrystal Kornegay Executive Director

MassHousing, Tim Sullivan former Executive Director MassHousing, Larry Schubert West Tisbury Affordable Housing Committee Chair, Dylan Fernandes Massachusetts

State Representative, Richard Leonard IHT Board Chair, Debra Cedeno IHT Board, Philippe Jordi IHT Executive Director

P.O. BOX 779WEST TISBURY, MA 02575

ISLANDHOUSINGTRUST

P.O. BOX 779WEST TISBURY, MA 02575

ISLANDISLANDHOUSINGHOUSINGTRUSTTRUST

Building Homes & Preserving Community Contact or Donate to Island Housing Trust info@ihtmv.org 508.693.1117 ihtmv.org