Vermont Journalism Trust Ltd

Nonprofit profile at a glance

EIN
271553931
IRS 990 coverage
2011–2024
Forms available
Form 990 2024, Form 990-T 2024, Form 990-N 2010
Location
Montpelier, VT, USA
Phone
8022256224
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Media, Communications Organizations

Official website

Reported finances

Revenue
$2,947,321
Expenses
$3,023,036
Assets
$1,821,860
Liabilities
$204,704

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

Leadership & pay

18 people listed

Executive titles in this filing

  • GAYE SYMINGTON (PRESIDENT)
  • SCHUYLER BARSCH (CEO)

Highest reported compensation

  • SCHUYLER BARSCH (CEO): $148,734 total reported compensation
  • ANNE GALLOWAY (FMR. EXEC. D): $110,000 total reported compensation
  • AMY PUCHRIK-VIENS (CHIEF FINANC): $83,618 total reported compensation

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

Overview

Mission

Information is power. The mission of the Vermont journalism trust and vtdigger.org, is to give that power to vermonters by making complex public policy issues readily accessible, by holding government accountable and by giving readers opportunities to become active participants in democracy.

What it reported doing in 2024

Vtdigger is an online news daily dedicated to public service journalism. We cover Vermont politics, business, healthcare, education, energy, criminal justice and the environment. Our mission is to produce rigorous journalism that explains complex issues, holds the government accountable to the public, and engages vermonters in the democratic process. Our news reaches over 600,000 unique readers monthly. Our award-winning reporting is available free of charge at vtdigger.org, a project of the Vermont journalism trust, ltd.

Operating model

Revenue model
Donor-supported. 82% of the money available for current operations came from contributions and gifts.
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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 66
  • Transparency & Controls: 79
  • Accountability: 95
  • Sustainability: 28
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 72.7%; rating input score 73
  • Program expense ratio: 70.7%; rating input score 71
  • Fundraising efficiency: $4.33 raised per $1 spent on fundraising; rating input score 14; 14th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd 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: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -2.6%; rating input score 25; 25th percentile among comparable filings
  • Total-asset coverage ratio: 0.6; rating input score 22; 22nd percentile among comparable filings
  • Liabilities to assets ratio: 0.11; rating input score 56; 56th percentile among comparable filings
  • Officer compensation ratio: 11.3%; rating input score 26; 26th percentile among comparable filings

Growth

  • Program expense growth: 14.4% per year; rating input score 100; 76th percentile among comparable filings
  • Revenue growth: 12.4% per year; rating input score 100; 76th percentile among comparable filings
  • Asset growth: 12.6% per year; rating input score 100; 68th percentile among comparable filings

Details

  • Where the money goes: 72.7% of revenue deployed · 70.7% of spending went to programs
  • Governance: 15 of 15 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $2.1M in reported program spending
  • Leadership: top reported pay $149K · 18 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $110K reported
  • Consistency: 34 of 34 current checks pass
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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: Fundraising efficiency scored 14/100.
  • High — Sustainability: Operating margin scored 25/100.
  • High — Sustainability: Total-asset coverage ratio scored 22/100.
  • Review — Accountability: Governance controls: CEO compensation review process not reported.
  • High — Sustainability: Officer compensation ratio scored 26/100.
  • Review — Sustainability: Liabilities to assets ratio scored 56/100.