Central Vermont Economic Development Corp

Nonprofit profile at a glance

EIN
030260892
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Montpelier, VT, USA
Phone
8022234654
Rating
84
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$351,285
Expenses
$539,713
Assets
$444,377
Liabilities
$378,098

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

Leadership & pay

21 people listed

Highest reported compensation

  • MELISSA BOUNTY (FORMER EX. D): $90,507 total reported compensation

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

Overview

Mission

Industrial and commercial development.

What it reported doing in 2024

Economic development program - this program focuses on promoting sound economic development, coordinates public and private efforts directed toward the attraction, encouragement, financing, and development of desirable private industry to foster, encourage, and assist the physical location and expansion of business enterprises in Washington county and three towns in orange county (Washington, williamstown and orange). The program also cooperates with existing local development groups to attain mutual objectives, including by way of illustration the sharing of expenses, assuming responsibility for completion of existing projects, and promoting local projects in the region served. Lastly, the program enters into financing arrangements for the furtherance of economic development.

Operating model

Revenue model
Grant-funded. 86% of the money available for current operations came from government grants.
Distribution model
Direct operator. The filing allocates 100% 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.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 92
  • Accountability: 79
  • Sustainability: 16
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 90%; rating input score 90
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • 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: 4 of 8 controls in place; rating input score 50
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -53.6%; rating input score 5; 5th percentile among comparable filings
  • Total-asset coverage ratio: 0.82; rating input score 36; 36th percentile among comparable filings
  • Liabilities to assets ratio: 0.85; rating input score 6; 6th percentile among comparable filings
  • Officer compensation ratio: 16.8%; rating input score 22; 22nd percentile among comparable filings

Growth

  • Program expense growth: 15.5% per year; rating input score 100; 79th percentile among comparable filings
  • Revenue growth: 13.5% per year; rating input score 100; 80th percentile among comparable filings
  • Asset growth: 7.7% per year; rating input score 100; 58th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 90% of spending went to programs
  • Governance: 20 of 20 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $486K in reported program spending
  • Leadership: top reported pay $91K · 21 people listed
  • Consistency: 27 of 27 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 11 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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.

  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Sustainability: Operating margin scored 5/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 36/100.
  • High — Sustainability: Liabilities to assets ratio scored 6/100.
  • High — Sustainability: Officer compensation ratio scored 22/100.