Vt Association of Snow Travelers Inc

What it reported doing in 2024

Vast general program - the major revenue source for this budget is the sale of a trail pass (trails maintenance assessment, or "tma") required by Vermont law in order to operate a snowmobile on the ssts. This program also receives grant funding. One source of grant revenue is the national recreational trails program. Vast has other partnerships with federal agencies, like the united states forest service and the united states fish and wildlife services that bring in additional revenues. Vast sells advertising in its magazine (published five times annually) for additional program revenue. This program is broken down into the following three divisions - (1) administration - this division of the program pays for administrative services for the balance of the program, including all salaries and wages, and fringe benefits paid to vast staff. The major income sources are a portion of the tma revenue raised annually and the sale of advertising within snowmobile Vermont and the vast website. Snowmobile Vermont is the primary tool for communication with its membership. This program division is also reimbursed for employee wages and benefits that are expended on behalf of other programs of vast. (2) trails - this division of the program is, by far, the largest. Vast runs grant-in-aid programs for local clubs that are paid from this portion of the vast budget. Grant-in-aid programs include: trail construction; trail maintenance; trail signing; trail debrushing; emergency allocations; grooming equipment; grooming of the statewide snowmobile trails system; etc. This division of the program also funds vast public relations and communications. Major funding for this division comes from the sale of the tma, as well as grants generated throughout the year. (3) scholarships - one tenth of one percent of every vast tma goes to help fund this program division. In addition, on july 15, 2019 vast opened an annuity with great american insurance group in an effort to gain more interest on board designated amounts for scholarships. Vast is no longer affiliated with the affinity program with liberty mutual insurance company. Currently, vast gives two 2,500 scholarships annually.

Financial Efficiency

• Mission deployment rate: 71.2%; rating input score 71
• Program expense ratio: 78.7%; rating input score 79
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 92.9%; rating input score 93; 13th percentile among comparable filings
• Pay-setting controls: Limited
• Foreign activity oversight: Limited
• Grant itemization coverage: 35.8%; rating input score 36; 14th percentile among comparable filings
• Major donor itemization: Limited
• Related-party transparency: Yes; rating input score 100

Accountability

• Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
• Governance controls: 5 of 8 controls in place; rating input score 62
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Fail
  • Document-retention policy: Pass
  • CEO compensation review process: NotApplicable
  • Other executive compensation review process: Fail
  • Form 990 shared with the board: Fail
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 6.9%; rating input score 56; 56th percentile among comparable filings
• Total-asset coverage ratio: 1.63; rating input score 55; 55th percentile among comparable filings
• Liabilities to assets ratio: 0; rating input score 97; 97th percentile among comparable filings
• Officer compensation ratio: 2.8%; rating input score 70; 70th percentile among comparable filings

Growth

• Program expense growth: 2.1% per year; rating input score 100; 22nd percentile among comparable filings
• Revenue growth: 1% per year; rating input score 100; 16th percentile among comparable filings
• Asset growth: 13.2% per year; rating input score 100; 69th percentile among comparable filings