Lake Champlain Islands Economic Development Corporation

Nonprofit profile at a glance

EIN
320390821
IRS 990-EZ coverage
2013–2024
Forms available
Form 990-EZ 2024
Location
North Hero, VT, USA
Phone
8023721795
Rating
46
Verdict
MIXED
Rating confidence
Moderate
Sector
Community Improvement, Capacity Building N.E.C.

Reported finances

Revenue
$192,635
Expenses
$200,457
Assets
$122,951
Liabilities
$52,012

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

Leadership & pay

11 people listed

Executive titles in this filing

  • DAN FARNHAM (PRESIDENT)
  • ANDREW JULOW (EXECUTIVE DIRECTOR)

People named in this filing

  • MELISSA MORISSETTE (DIRECTOR)
  • EMBER BOYLE (DIRECTOR)
  • NATE HAYWARD (DIRECTOR)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

To deliver economic development services to grand isle county, vt

What it reported doing in 2024

Economic development services through small business counseling, offering free workshops and free training for the local workforce, and providing state and federal resources to local businesses.

Operating model

Revenue model
Donor-supported. 85% of the money available for current operations came from contributions and gifts.
Distribution model
Transfer-based 990-EZ. The 990-EZ reports grants or member benefits, but it does not separate enough spending to show the nonprofit’s full delivery mix.

The verdict

MIXED - The filed numbers largely add up. A relatively small share of available resources goes toward mission work and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 5
  • Transparency & Controls: 100
  • Sustainability: 26
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 8.3%; rating input score 8
  • Program expense ratio: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100

Sustainability

  • Operating margin: -4.1%; rating input score 24; 24th percentile among comparable filings
  • Total-asset coverage ratio: 0.61; rating input score 43; 43rd percentile among comparable filings
  • Liabilities to assets ratio: 0.42; rating input score 12; 12th percentile among comparable filings
  • Officer compensation ratio: 42.4%; rating input score 6; 6th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 5.7% per year; rating input score 100; 51st percentile among comparable filings
  • Asset growth: -1.7% per year; rating input score 0; 22nd percentile among comparable filings

Details

  • Where the money goes: 8.3% of revenue deployed
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment
  • Leadership: top reported pay $0 · 11 people listed
  • Consistency: 7 of 7 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 12 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • High — Financial Efficiency: Mission deployment rate scored 8/100.
  • High — Sustainability: Operating margin scored 24/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 43/100.
  • High — Sustainability: Officer compensation ratio scored 6/100.
  • High — Sustainability: Liabilities to assets ratio scored 12/100.