Lamoille Economic Development Corp

Nonprofit profile at a glance

EIN
030221525
IRS 990 coverage
2015–2024
Forms available
Form 990 2024
Location
Morrisville, VT, USA
Phone
8028885640
Rating confidence
Limited
Sector
Chambers of Commerce & Business Leagues

Official website

Reported finances

Revenue
$225,726
Expenses
$154,782
Assets
$1,042,850
Liabilities
$13,155

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

Leadership & pay

12 people listed

Executive titles in this filing

  • GREG TATRO (PRESIDENT THROUGH OCTOBER 2024)
  • MARK VANDENBERG (VICE PRESIDENT THROUGH OCTOBER 2024)
  • PATRICK RIPLEY (EXECUTIVE DIRECTOR)
  • DODY DAY (PRESIDENT FROM OCTOBER 2024)

Highest reported compensation

  • PATRICK RIPLEY (EXECUTIVE DIRECTOR): $95,000 total reported compensation

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

Overview

Mission

Ledc's mission is to strengthen lamoille county's economy through facilitating the creation and expansion of jobs and businesses and investing in the prosperity of lamoille county's communities.

What it reported doing in 2024

Ledc operates jointly with the lamoille chamber of commerce to strengthen the economy in lamoille county through financing, job creation, consulting, business recruitment and retention, economic development, marketing, legislative advocacy, and other support services available to all businesses in all commercial sectors.

Operating model

Revenue model
Donor-supported. 66% of the money available for current operations came from contributions and gifts.
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: 85
  • Accountability: 90
  • Sustainability: 69
  • Growth: 60

Detailed rating inputs

Financial Efficiency

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

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 13th 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: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 31.4%; rating input score 83; 83rd percentile among comparable filings
  • Total-asset coverage ratio: 6.74; rating input score 84; 84th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 44; 44th percentile among comparable filings
  • Officer compensation ratio: 61.4%; rating input score 2; 2nd percentile among comparable filings

Growth

  • Program expense growth: -1.6% per year; rating input score 0; 25th percentile among comparable filings
  • Revenue growth: 3.4% per year; rating input score 100; 43rd percentile among comparable filings
  • Asset growth: 2.7% per year; rating input score 100; 37th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 9 of 9 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $95K · 12 people listed
  • Consistency: 9 of 9 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 9 filing years from 2015 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.

  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 2/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 44/100.