Center for an Agricultural Economy Inc

Overview

Mission

The center for an agricultural economy supports rural communities and working landscapes by building a more interconnected local food system.

What it reported doing in 2024

The Vermont farm fund, a program of the center for an agricultural economy, is a community-based credit model in service of a community-based food system. We provide no-hassle, friendly-term loans to Vermont farmers and food producers. The Vermont farm fund invests in the livelihoods of farmers and food producers. This program operates as a true revolving loan fund: as recipients pay back their loans, funds are replenished for the next cycle of borrowers. Vermont food venture center and farm and food business resources since 2012, the Vermont food venture center has been a hub of food processing and innovation. Food businesses can rent commercial kitchens by the hour to test or scale up their business models before investing in costly equipment and a dedicated production space. We offer three commercial kitchens and the space for your food business to grow. The business planners in our farm & food business resources team offer wraparound services, including business planning, technical assistance, and food safety training, available to all vfvc clients.

Operating model

Revenue model
Donor-supported. 65% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 94% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

Nonprofit profile at a glance

EIN
571201683
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Headquarters
Hardwick, VT, USA
Phone
8024725362
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Environmental Quality, Protection, and Beautification N.E.C.

Official website

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 56
  • Transparency & Controls: 88
  • Accountability: 95
  • Sustainability: 75
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 45.5%; rating input score 45
  • Program expense ratio: 78.5%; rating input score 78
  • Fundraising efficiency: $14 raised per $1 spent on fundraising; rating input score 49; 49th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 17th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 94.2%; rating input score 94; 29th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 42.1%; rating input score 90; 90th percentile among comparable filings
  • Total-asset coverage ratio: 2.37; rating input score 67; 67th percentile among comparable filings
  • Liabilities to assets ratio: 0.22; rating input score 41; 41st percentile among comparable filings
  • Officer compensation ratio: 2.5%; rating input score 73; 73rd percentile among comparable filings

Growth

  • Program expense growth: 20% per year; rating input score 100; 85th percentile among comparable filings
  • Revenue growth: 18% per year; rating input score 100; 86th percentile among comparable filings
  • Asset growth: 14.8% per year; rating input score 100; 73rd percentile among comparable filings

Details

  • Where the money goes: 45.5% of revenue deployed · 78.5% of spending went to programs
  • Governance: 10 of 10 board members independent · 7 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $3.1M in reported program spending
  • Leadership: top reported pay $98K · 12 people listed
  • Consistency: 33 of 35 current checks pass · 2 findings to review
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 13 annual filings from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 7 filed money-flow records
  • Related organizations: 6 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Leadership & pay

12 people listed

Highest reported compensation

  • JON RAMSAY (EXECUTIVE DI): $98,084 total reported compensation

Source: IRS Form 990. Selected filing: FY2024.