Totals
- Total revenue
- $1,094,499
- Total expenses
- $923,748
- Contributions and grants received
- $0
- Grants paid
- $597,000
- Program service revenue
- $1,026,298
- Investment income
- $68,201
- Other revenue
- $0
- Total assets, end of year
- $5,234,982
- Total liabilities, end of year
- $41,031
- Net assets or fund balances, end of year
- $5,193,951
- Program services expenses (Part IX)
- $0
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- not reported
Program services were 0.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
2a · Program service revenue: RENTAL INCOME
total $1,026,298 · related or exempt $1,026,298
-
3 · Investment income
total $97,014 · excluded $97,014
-
7a · Gross sales of assets other than inventory
securities $68,663
-
7b · Less cost or other basis and sales expenses
securities $97,476
-
7c · Gain or loss
securities -$28,813
-
7d · Net gain or loss
total -$28,813 · excluded -$28,813
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $597,000
-
11b · Fees: legal
total $10,033
-
11c · Fees: accounting
total $10,150
-
11f · Fees: investment management
total $11,338
-
12 · Advertising and promotion
total $6,490
-
13 · Office expenses
total $622
-
19 · Conferences, conventions and meetings
total $25,353
-
20 · Interest
total $3,536
-
22 · Depreciation, depletion and amortization
total $101,366
-
24a · Other expenses: INVESTMENT PROPERTY OPS
total $91,537
-
24b · Other expenses: CONSULTING SERVICES
total $59,138
-
24c · Other expenses: DUES AND SUBSCRIPTIONS
total $3,320
-
24d · Other expenses: CONTRIBUTIONS
total $3,300
-
24e · All other expenses
total $565
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $274,699 · end of year $16,469
-
2 · Savings and temporary cash investments
beginning of year $485,152 · end of year $665,852
-
4 · Accounts receivable
beginning of year $28,125 · end of year $232,213
-
9 · Prepaid expenses and deferred charges
beginning of year $10,728 · end of year $10,899
-
10a · Land, buildings and equipment: cost or other basis
$6,750,939
-
10b · Land, buildings and equipment: accumulated depreciation
$4,614,749
-
10c · Land, buildings and equipment, net
beginning of year $2,231,502 · end of year $2,136,190
-
11 · Investments: publicly traded securities
beginning of year $1,955,946 · end of year $2,155,238
-
14 · Intangible assets
beginning of year $18,163 · end of year $12,109
-
15 · Other assets
end of year $6,012
-
17 · Accounts payable and accrued expenses
beginning of year $31,393 · end of year $10,384
-
23 · Secured mortgages and notes payable
beginning of year $80,198
-
25 · Other liabilities
beginning of year $24,635 · end of year $30,647
-
27 · Net assets without donor restrictions
beginning of year $4,868,089 · end of year $5,193,951
Mission and programs · 2022
Mission
TO UNIFY AND COORDINATE PUBLIC AND PRIVATE EFFORTS DIRECTED TOWARD THE ATTRACTION, ENCOURAGEMENT, FINANCING AND DEVELOPMENT OF PRIVATE INDUSTRY AND COMMERCE WITHIN THE GREATER BURLINGTON AREA AND OTHER MUNICIPALITIES OF CHITTENDEN COUNTY FOR THE PURPOSE OF PROMOTING, INCREASING AND STABILIZING OPPORTUNITIES FOR GAINFUL EMPLOYMENT, IMPROVEMENT OF ECONOMIC CONDITIONS AND GENERAL WELFARE.
-
FINANCING OF INDUSTRIAL DEVELOPMENT LOANS AND RECEIVABLES TO VARIOUS QUALIFIED BUSINESSES THROUGHOUT THE GREATER BURLINGTON, VT AREA.
-
LEASING OF AFFORDABLE INDUSTRIAL DEVELOPMENT PROPERTY TO PROMOTE BUSINESS IN THE AREA.
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Frank CioffiFRANK CIOFFI
PRESIDENT, S
- Total calculated
- $236,172
- From this org
- $0
- From related orgs
- $197,880
- Other
- $38,292
- Hours/week
- 20 + 20 related
Schedule J breakdown matched by us
- Base
- not reported + $197,880 related
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported + $5,936 related
- Nontaxable benefits
- not reported + $32,356 related
- Filer's total
- not reported + $236,172 related
-
Dan SmithDAN SMITH
CHAIRPERSON
- Total calculated
- $0
- Hours/week
- 2
-
Pam MacKenziePAM MACKENZIE
VICE CHAIRPE
- Total calculated
- $0
- Hours/week
- 2
-
Ernest A PomerleauERNEST A POMERLEAU
TREASURER
- Total calculated
- $0
- Hours/week
- 2
-
Brad AldrichBRAD ALDRICH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Ethan BechtelETHAN BECHTEL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
David BradburyDAVID BRADBURY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Chris D'EliaCHRIS D'ELIA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Rich SmithRICH SMITH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Peter SylvesterPETER SYLVESTER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 3 · Approval by the board or compensation committee
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
-
GREATER BURLINGTON INDUSTRIAL CORP
$597,000
GENERAL SUPPORT
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
GREATER BURLINGTON INDUSTRIAL CORP GREATER BURLINGTON INDUSTRIAL CORP
501C6 · SUPPORT · VT
Directly controlled by NA N/A
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 14 November 2023
- IRS schema version
- 2022v5.0
- Source object
- 202303189349308720
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