Northeast Kingdom Development Corporation

Nonprofit profile at a glance

EIN
030330497
IRS 990 coverage
2011–2024
Forms available
Form 990 2024, Form 990-EZ 2016, Form 990-N 2021
Location
Saint Johnsbury, VT, USA
Phone
8027485181
Rating
68
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Job Training

Reported finances

Revenue
$3,819,342
Expenses
$549,448
Assets
$9,226,381
Liabilities
$3,913,093

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

Leadership & pay

6 people listed

Executive titles in this filing

  • AMINTA CONANT (PRESIDENT)
  • RICHARD ISABELLE (VICE PRESIDENT)

People named in this filing

  • AMINTA CONANT (PRESIDENT)
  • RICHARD ISABELLE (VICE PRESIDENT)
  • KIMBERLY BUTLER (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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Fostering, encouraging and assisting the physical location of business enterprises within the States of Vermont and New Hampshire, and having its principal purpose be industrial and economic development of one or more political subdivisions of those states

What it reported doing in 2024

Yellow Barn Yellow Barn is a unique public-private endeavor to offer best-in-class production and administrative space to new and expanding businesses at highly competitive rates. The Town of Hardwick owns the Yellow Barn. The Northeast Kingdom Development Corporation, a non-profit economic development entity, will act as fiscal agent for the facility. The Center for an Agricultural Economy will provide managerial oversight to the accelerator spaces available to new and expanding farm- and food-related businesses.

Operating model

Revenue model
Grant-funded. 87% 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

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 43
  • Transparency & Controls: 90
  • Accountability: 70
  • Sustainability: 88
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 16.8%; rating input score 17
  • Program expense ratio: 100%; rating input score 100
  • 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: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Pass
    • 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: 85.6%; rating input score 98; 98th percentile among comparable filings
  • Total-asset coverage ratio: 16.79; rating input score 95; 95th percentile among comparable filings
  • Liabilities to assets ratio: 0.42; rating input score 25; 25th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: 8.3% per year; rating input score 100; 57th percentile among comparable filings
  • Revenue growth: 27.9% per year; rating input score 100; 93rd percentile among comparable filings
  • Asset growth: 27.4% per year; rating input score 100; 91st percentile among comparable filings

Details

  • Where the money goes: 16.8% of revenue deployed · 100% of spending went to programs
  • Governance: 6 of 6 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $549K in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 19 of 19 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 4 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: Filed and resolved organization relationships.
  • 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 17/100.
  • High — Accountability: Governance controls: 4 of 6 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 25/100.