Brattleboro Development Credit Corp

Nonprofit profile at a glance

EIN
036010485
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Brattleboro, VT, USA
Phone
8022577731
Rating confidence
Limited
Sector
Chambers of Commerce & Business Leagues

Official website

Reported finances

Revenue
$6,319,873
Expenses
$5,202,362
Assets
$20,084,094
Liabilities
$4,889,126

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

14 people listed

Executive titles in this filing

  • ADAM GRINOLD (EXECUTIVE DIRECTOR)

Highest reported compensation

  • ADAM GRINOLD (EXECUTIVE DIRECTOR): $165,274 total reported compensation
  • BOBBI KILBURN (DIRECTOR OF FINANCE): $163,971 total reported compensation
  • JEN STROMSTEN (DIRECTOR OF PROGRAMS): $112,012 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Brattleboro development credit corporation (bdcc), is a private, nonprofit economic development organization that serves as a catalyst for industrial and commercial growth throughout southeastern Vermont, including windham county and the towns of readsboro, (see sch. O)searsburg, weston, and winhall. The primary objective of bdcc is to invest in the drivers of the regional economy so that people, businesses, and communities in southern Vermont can thrive. Our vision statement reads: people who love southern Vermont have opportunities to thrive here.

What it reported doing in 2024

Real estate: operation of industrial buildings and several lots in the exit one industrial park, housing in excess of 50 businesses, employing in excess of 350 people. The organization previously acquired older, unoccupied industrial buildings vacated by major employers and converted the buildings to facilities targeted to startup businesses, and to support regional employers as they look to grow and expand. The organization provides administrative and management support to these businesses, and to the southern Vermont region.

Operating model

Revenue model
Earned-program. 61% of the money available for current operations came from fees and other program revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 74
  • Accountability: 95
  • Sustainability: 67
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90%; rating input score 90; 4th percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 72.5%; rating input score 72; 19th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 17.7%; rating input score 74; 74th percentile among comparable filings
  • Total-asset coverage ratio: 3.86; rating input score 79; 79th percentile among comparable filings
  • Liabilities to assets ratio: 0.24; rating input score 39; 39th percentile among comparable filings
  • Officer compensation ratio: 8.5%; rating input score 35; 35th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 7.4% per year; rating input score 100; 56th percentile among comparable filings
  • Asset growth: 9.9% per year; rating input score 100; 58th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 11 of 11 board members independent · 8 of 9 filing controls reported
  • Programs: 3 filed program accomplishments
  • Leadership: top reported pay $165K · 14 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 12 of 13 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors, grants, executive pay, and related organizations
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 7 filed money-flow records
  • Related organizations: 11 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.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Review — Accountability: Governance controls: Whistleblower policy not reported.
  • Moderate — Sustainability: Officer compensation ratio scored 35/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 39/100.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.