Southeastern Vermont Economic Development Strategies Inc

Nonprofit profile at a glance

EIN
462760132
IRS 990 coverage
2018–2024
Forms available
Form 990 2024
Location
Brattleboro, VT, USA
Phone
8022577731
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Public, Societal Benefit

Official website

Reported finances

Revenue
$198,049
Expenses
$231,173
Assets
$150,766
Liabilities
$100

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

Leadership & pay

12 people listed

Executive titles in this filing

  • ADAM GRINOLD (EXECUTIVE DIRECTOR)

Highest reported compensation

  • ADAM GRINOLD (EXECUTIVE DIRECTOR): $165,274 total reported compensation
  • BOBBI KILBURN (DIRECTOR OF FINANCE): $163,971 total reported compensation

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

Overview

Mission

Seveds exists to reverse the windham regions economic decline. We envision developing the southern Vermont economy to generate long-term growth and prosperity, improve the regions quality of life, and sustain its quality of place.

What it reported doing in 2024

Maintain a valid windham region "comprehensive economic development strategy and support and co-administer an eda funded joint ceds to the benefit of windham and bennington counties. Support workforce center of excellence collaborative between providers and users of workforce development services.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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 - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 65
  • Accountability: 81
  • Sustainability: 26
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 95.3%; rating input score 95
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 90.9%; rating input score 91; 25th percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 67
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -16.7%; rating input score 16; 16th percentile among comparable filings
  • Total-asset coverage ratio: 0.65; rating input score 30; 30th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 57; 57th percentile among comparable filings
  • Officer compensation ratio: 14.1%; rating input score 25; 25th percentile among comparable filings

Growth

  • Program expense growth: 2.1% per year; rating input score 100; 40th percentile among comparable filings
  • Revenue growth: -0.7% per year; rating input score 0; 21st percentile among comparable filings
  • Asset growth: 11% per year; rating input score 100; 68th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 95.3% of spending went to programs
  • Governance: 10 of 11 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $220K in reported program spending
  • Leadership: top reported pay $165K · 12 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 17 of 17 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 7 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: 6 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 3 of 9 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 16/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 30/100.
  • High — Sustainability: Officer compensation ratio scored 25/100.
  • Review — Sustainability: Liabilities to assets ratio scored 57/100.