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← SOUTHEASTERN VERMONT ECONOMIC DEVELOPMENT STRATEGIES INC

Form 990 for tax year 2023

Filed by SOUTHEASTERN VERMONT ECONOMIC DEVELOPMENT STRATEGIES INC.

Totals

Total revenue
$176,259
Total expenses
$152,692
Contributions and grants received
$164,044
Grants paid
$0
Program service revenue
$735
Investment income
$11,480
Other revenue
$0
Total assets, end of year
$183,790
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$183,790
Program services expenses (Part IX)
$143,073
Management and general expenses
$9,619
Fundraising expenses
$0
Program service expenses (Part III)
$143,073

Program services were 93.7% 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.

  • 1d · Related organizations

    $50,000

  • 1e · Government grants (contributions)

    $112,028

  • 1f · All other contributions, gifts and grants

    $2,016

  • 2a · Program service revenue: YOUNG PROFESSIONALS

    total $735 · related or exempt $735

  • 3 · Investment income

    total $11,480 · related or exempt $11,480

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $133,368 · program services $124,966 · management and general $8,402

  • 11c · Fees: accounting

    total $5,685 · program services $5,327 · management and general $358

  • 12 · Advertising and promotion

    total $4,257 · program services $3,989 · management and general $268

  • 13 · Office expenses

    total $7,398 · program services $6,932 · management and general $466

  • 17 · Travel

    total $1,984 · program services $1,859 · management and general $125

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $160,495 · end of year $183,790

  • 17 · Accounts payable and accrued expenses

    beginning of year $271 · end of year $0

  • 19 · Deferred revenue

    beginning of year $6,573 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $153,651 · end of year $177,260

  • 28 · Net assets with donor restrictions

    end of year $6,530

Mission and programs · 2023

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.

Activities or mission (Part I)

SEVEDS EXISTS TO REVERSE THE WINDHAM REGIONS ECONOMIC DECLINE. (SEE SCHEDULE O)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.

  • 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.

    Expenses $143,073 · Revenue $12,215

As filed on the 2023 return.

Listed in Part VII

  • Wendy Harrison

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Meg Streeter

    VICE-CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Gary Fox

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Bill Colvin

    CLERK

    Total calculated
    $0
    Hours/week
    1

  • Samba Diallo

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Adam Grinold

    EXECUTIVE DIRECTOR

    Total calculated
    $160,587
    From this org
    $0
    From related orgs
    $155,910
    Other
    $4,677
    Hours/week
    1 + 42 related

    Schedule J breakdown matched by us

    Base
    $0 + $155,910 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $4,677 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $160,587 related

  • Keith Marks

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Drew Richards

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Avery Schwenk

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Sue Westa

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Tom Cain

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kathleen McGraw

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mary Ann Kristiansen

    DIRECTOR (RESIGNED FY24)

    Total calculated
    $0
    Hours/week
    1

  • Peter Carvell

    DIRECTOR (RESIGNED FY24)

    Total calculated
    $0
    Hours/week
    1

  • Bobbi Kilburn

    DIRECTOR OF FINANCE

    Total calculated
    $150,007
    From this org
    $0
    From related orgs
    $126,214
    Other
    $23,793
    Hours/week
    1 + 42 related

    Schedule J breakdown matched by us

    Base
    $0 + $126,214 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $3,786 related
    Nontaxable benefits
    $0 + $20,007 related
    Filer's total
    $0 + $150,007 related

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

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
THE RELATED ORGANIZATION THAT COMPENSATES THE CEO/EXECUTIVE DIRECTOR USE THE FOLLOWING METHODS TO ESTABLISH THEIR COMPENSATION: - COMPENSATION COMMITTEE - APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE

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

No itemized grants to organizations on this return.

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.

Provenance

Return type
form_990
Tax year
2023
Filed
24 April 2025
IRS schema version
2023v6.0
Source object
202531189349302173

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