Memorial Drive Nmtc Holdings Inc

Nonprofit profile at a glance

EIN
821136144
IRS 990 coverage
2016–2022
Forms available
Form 990 2022
Location
St Johnsbury, VT, USA
Phone
8027485101
Rating confidence
Limited
Sector
Chambers of Commerce & Business Leagues

Reported finances

Revenue
$514,420
Expenses
$839,255
Assets
$9,436,345
Liabilities
$11,272,376

Source: IRS Form 990. Selected filing: tax year 2022. Amounts in USD.

Leadership & pay

3 people listed

Executive titles in this filing

  • PETER COREY (PRESIDENT)

People named in this filing

  • PETER COREY (PRESIDENT)
  • DAVID SNEDEKER (TREASURER)
  • BRENDAN HUGHES (SECRETARY)

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 2022. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To foster, encourage and assist both the physical location of business enterprises within the state of Vermont and the industrial and economic development of caledonia county, and the support of related activities consistent with the goals of the organization

What it reported doing in 2022

Fostering, encouraging and assisting both the physical location of business enterprises within the state of Vermont and the industrial and economic development of caledonia county, and the support of related activities consistent with the goals of the organization

Operating model

Revenue model
Earned-program. 100% 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: 90
  • Accountability: 82
  • Sustainability: 38
  • Growth: 80

Detailed rating inputs

Financial Efficiency

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

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -63.1%; rating input score 2; 2nd percentile among comparable filings
  • Total-asset coverage ratio: 11.24; rating input score 93; 93rd percentile among comparable filings
  • Liabilities to assets ratio: 1.19; rating input score 4; 4th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 82; 82nd percentile among comparable filings

Growth

  • Program expense growth: 164.8% per year; rating input score 100; 100th percentile among comparable filings
  • Revenue growth: 4% per year; rating input score 100; 42nd percentile among comparable filings
  • Asset growth: -4.6% per year; rating input score 0; 8th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 3 of 3 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $817K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 11 of 11 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 6 filing years from 2016 to 2022
  • Contacts: How to reach this organization
  • 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 2/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 4/100.