Lgbtq Fund of Vermont Incorporated

Nonprofit profile at a glance

EIN
432082613
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
Randolph, VT, USA
Phone
8025657474
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Public Foundations

Official website

Reported finances

Revenue
$261,973
Expenses
$272,149
Assets
$215,374
Liabilities
$205,488

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

Leadership & pay

6 people listed

People named in this filing

  • Thomas Bivins (Director)
  • Lynn Goyette (Director)
  • Sherry Corbin (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. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The LGBTQ Fund of Vermont promotes the substantive, valuable contributions LBGTQ donors make to the broader community. The Fund makes charitable gifts to other not-for-profit organizations as designated by its donors. Our objective is to reduce homophobia by drawing attention to the engagement of LGBTQ Vermonters in the broader community and their positive impact on the lives of all Vermonters.

What it reported doing in 2024

151 cash contributions made to 102 different 501(c)(3) recipients. Complete list of recipients available upon request. Done to reduce homophobia by establishing goodwill within the general public for the LGBTQ (lesbian, gay, bisexual, transgender, and queer) community in Vermont.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - 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 the filing does not identify recipients for some grant dollars.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 71
  • Accountability: 64
  • Sustainability: 34
  • Growth: 100

Detailed rating inputs

Financial Efficiency

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

Transparency & Controls

  • Consistency checks: 81.8%; rating input score 82; 1st percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 48.8%; rating input score 49; 42nd 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: 1 of 7 controls in place; rating input score 14
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -3.9%; rating input score 31; 31st percentile among comparable filings
  • Total-asset coverage ratio: 0.79; rating input score 35; 35th percentile among comparable filings
  • Liabilities to assets ratio: 0.95; rating input score 5; 5th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 3.7% per year; rating input score 100; 48th percentile among comparable filings
  • Revenue growth: 7.9% per year; rating input score 100; 65th percentile among comparable filings
  • Asset growth: 62% per year; rating input score 100; 97th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 6 of 6 board members independent · 1 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $272K in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 39 of 41 current checks pass · 2 findings to review
  • Schedules: 4 filed schedules · includes major donors and grants
  • Filing history: 6 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 8 filed money-flow records
  • Related organizations: 8 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.

  • High — Accountability: Governance controls: 5 of 6 not reported.
  • Moderate — Transparency & Controls: Grant itemization coverage scored 49/100.
  • Moderate — Sustainability: Operating margin scored 31/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 35/100.
  • High — Sustainability: Liabilities to assets ratio scored 5/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.