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Nonprofiteer
← BRATTLEBORO DEVELOPMENT CREDIT CORPORATION

Form 990 for tax year 2022

Filed by BRATTLEBORO DEVELOPMENT CREDIT CORPORATION.

Totals

Total revenue
$5,445,267
Total expenses
$4,738,385
Contributions and grants received
$1,741,775
Grants paid
$428,241
Program service revenue
$3,274,137
Investment income
$416,800
Other revenue
$12,555
Total assets, end of year
$29,036,082
Total liabilities, end of year
$16,298,871
Net assets or fund balances, end of year
$12,737,211
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

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.

  • 1e · Government grants (contributions)

    $1,736,775

  • 1f · All other contributions, gifts and grants

    $5,000

  • 2a · Program service revenue: LEASE REVENUE

    total $3,200,664 · related or exempt $3,200,664

  • 2b · Program service revenue: OTHER PROGRAMS

    total $73,473 · related or exempt $73,473

  • 3 · Investment income

    total $416,800 · excluded $416,800

  • 11a · Other revenue: ENERGY CREDITS

    total $9,510 · excluded $9,510

  • 11b · Other revenue: OTHER INCOME

    total $3,045 · excluded $3,045

  • 11e · Other revenue, total

    $12,555

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $393,712

  • 2 · Grants to domestic individuals

    total $34,529

  • 5 · Compensation of officers, directors and key employees

    total $291,919

  • 7 · Other salaries and wages

    total $763,256

  • 8 · Pension plan contributions

    total $18,962

  • 9 · Other employee benefits

    total $65,977

  • 10 · Payroll taxes

    total $100,276

  • 11b · Fees: legal

    total $1,045

  • 11c · Fees: accounting

    total $10,048

  • 11g · Fees: other

    total $396,391

  • 12 · Advertising and promotion

    total $9,020

  • 13 · Office expenses

    total $500,531

  • 14 · Information technology

    total $21,970

  • 16 · Occupancy

    total $1,213,285

  • 17 · Travel

    total $37,016

  • 20 · Interest

    total $333,840

  • 22 · Depreciation, depletion and amortization

    total $424,203

  • 23 · Insurance

    total $122,405

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,004,746 · end of year $516,126

  • 2 · Savings and temporary cash investments

    beginning of year $6,009,720 · end of year $8,573,800

  • 3 · Pledges and grants receivable

    beginning of year $118,601 · end of year $445,727

  • 4 · Accounts receivable

    beginning of year $76,817 · end of year $203,165

  • 7 · Other notes and loans receivable

    beginning of year $23,881,145 · end of year $14,728,788

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $11,575

  • 10a · Land, buildings and equipment: cost or other basis

    $10,208,216

  • 10b · Land, buildings and equipment: accumulated depreciation

    $5,651,315

  • 10c · Land, buildings and equipment, net

    beginning of year $4,598,686 · end of year $4,556,901

  • 15 · Other assets

    beginning of year $25,000 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $136,916 · end of year $233,302

  • 19 · Deferred revenue

    beginning of year $119,620 · end of year $148,913

  • 23 · Secured mortgages and notes payable

    beginning of year $24,350,647 · end of year $15,814,236

  • 25 · Other liabilities

    beginning of year $77,203 · end of year $102,420

  • 27 · Net assets without donor restrictions

    beginning of year $12,030,329 · end of year $12,737,211

Mission and programs · 2022

Mission

THE BRATTLEBORO DEVELOPMENT CREDIT CORPORATION (BDCC), IS A PRIVATE, NONPROFIT ECONOMIC DEVELOPMENT ORGANIZATION THAT SERVES AS A CATALYST FOR INDUSTRIAL AND COMMERCIAL GROWTH THROUGHOUT SOUTHEASTERN VERMONT, INCLUDING WINDHAM COUNTY AND THE TOWNS OF READSBORO, (SEE SCH. O)SEARSBURG, WESTON, AND WINHALL. THE PRIMARY OBJECTIVE OF THE BDCC IS TO INVEST IN THE DRIVERS OF THE REGIONAL ECONOMY SO THAT PEOPLE, BUSINESSES, AND COMMUNITIES IN SOUTHERN VERMONT CAN THRIVE. OUR VISION STATEMENT READS: PEOPLE WHO LOVE SOUTHERN VERMONT HAVE OPPORTUNITIES TO THRIVE HERE.

Activities or mission (Part I)

THE BRATTLEBORO DEVELOPMENT CREDIT CORPORATION (BDCC), IS A PRIVATE, NONPROFIT (SEE SCH. O)ECONOMIC DEVELOPMENT ORGANIZATION THAT SERVES AS A CATALYST FOR INDUSTRIAL AND COMMERCIAL GROWTH THROUGHOUT SOUTHEASTERN VERMONT, INCLUDING WINDHAM COUNTY AND THE TOWNS OF READSBORO, SEARSBURG, WESTON, AND WINHALL. THE PRIMARY OBJECTIVE OF THE BDCC IS TO INVEST IN THE DRIVERS OF THE REGIONAL ECONOMY SO THAT PEOPLE, BUSINESSES, AND COMMUNITIES IN SOUTHERN VERMONT CAN THRIVE. OUR VISION STATEMENT READS: PEOPLE WHO LOVE SOUTHERN VERMONT HAVE OPPORTUNITIES TO THRIVE HERE.

  • REAL ESTATE: OPERATION OF INDUSTRIAL BUILDINGS AND SEVERAL LOTS IN THE EXIT ONE INDUSTRIAL PARK, HOUSING IN EXCESS OF 50 BUSINESSES, EMPLOYING IN EXCESS OF 350 PEOPLE. THE ORGANIZATION PREVIOUSLY ACQUIRED OLDER, UNOCCUPIED INDUSTRIAL BUILDINGS VACATED BY MAJOR EMPLOYERS AND CONVERTED THE BUILDINGS TO FACILITIES TARGETED TO STARTUP BUSINESSES, AND TO SUPPORT REGIONAL EMPLOYERS AS THEY LOOK TO GROW AND EXPAND. THE ORGANIZATION PROVIDES ADMINISTRATIVE AND MANAGEMENT SUPPORT TO THESE BUSINESSES, AND TO THE SOUTHERN VERMONT REGION.

  • DEVELOPMENT PROJECTS: BDCC HAS ENTERED INTO AGREEMENTS, IN SUPPORT OF AFFILIATED ENTITIES; BRATTLEBORO DEVELOPMENT CREDIT CORPORATION REAL ESTATE HOLDINGS, INC. AND BRATTLEBORO DEVELOPMENT CREDIT CORPORATION REAL ESTATE HOLDINGS II, INC., ON BEHALF OF SPECIFIC EXPANSION PROJECTS FOR THE BENEFIT OF REGIONAL EMPLOYERS PROVIDING OPPORTUNITIES FOR GROWTH AND JOB CREATION.

  • ADMINISTERING BDCC'S STRATEGIC PROJECTS / PROGRAMS, FUNDED FROM INTERNAL SOURCES, FEDERAL, STATE, AND PRIVATE FOUNDATION GRANTS, INCLUDING WORKFORCE INTIATIVES, BUSINESS SUPPORT & LENDING, COMMUNITY DEVELOPMENT INITIATIVES, AND WINDHAM COUNTY ECONOMIC DEVELOPMENT PROGRAM.

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • CRAIG MISKOVICH

    CHAIR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • TAMMY RICHARDS

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • DEBORAH BOYLE

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • JOHN MEYER

    ASST. TREASURER

    Total calculated
    $0
    Hours/week
    1

  • ROBERT STEVENS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • DAN NORMANDEAU

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • MARK RICHARDS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • KEVIN MEYER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • PETER CARVELL

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • TRACEY JOHN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • ELIZABETH BRIDGEWATER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • STEPHAN MORSE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • PHIL STECKLER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • ADAM GRINOLD

    EXECUTIVE DIRECTOR

    Total calculated
    $152,968
    From this org
    $148,513
    From related orgs
    $0
    Other
    $4,455
    Hours/week
    40 + 3 related

    Schedule J breakdown matched by us

    Base
    $148,513
    Bonus
    $0
    Other
    $0
    Deferred
    $4,455
    Nontaxable benefits
    $0
    Filer's total
    $152,968

  • BOBBI KILBURN

    DIRECTOR OF FINANCE

    Total calculated
    $125,280
    From this org
    $115,680
    From related orgs
    $0
    Other
    $9,600
    Hours/week
    40 + 3 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

  • 3 · Compensation committee
  • 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

The 10 largest by cash amount. The API serves every itemized grant.

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
2022
Filed
7 February 2024
IRS schema version
2022v5.0
Source object
202420449349300637

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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