Totals
- Total revenue
- $783,033
- Total expenses
- $2,165,766
- Contributions and grants received
- $374,053
- Grants paid
- $0
- Program service revenue
- $1,805,560
- Investment income
- -$1,491,546
- Other revenue
- $94,966
- Total assets, end of year
- $17,606,975
- Total liabilities, end of year
- $12,971,619
- Net assets or fund balances, end of year
- $4,635,356
- Program services expenses (Part IX)
- $1,802,118
- Management and general expenses
- $363,648
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $1,802,118
Program services were 83.2% 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.
-
1e · Government grants (contributions)
$350,553
-
1f · All other contributions, gifts and grants
$23,500
-
2a · Program service revenue: Rental income
total $938,943 · related or exempt $938,943
-
2b · Program service revenue: Tenant reimbursements
total $304,577 · related or exempt $304,577
-
2c · Program service revenue: Interest income-financed lease
total $551,296 · related or exempt $551,296
-
2d · Program service revenue: Interest income-revolving loan fund
total $10,744 · related or exempt $10,744
-
3 · Investment income
total $20,700 · excluded $20,700
-
7a · Gross sales of assets other than inventory
other assets $3,874,940
-
7b · Less cost or other basis and sales expenses
other assets $5,387,186
-
7c · Gain or loss
other assets -$1,512,246
-
7d · Net gain or loss
total -$1,512,246
-
11a · Other revenue: Other income
total $94,966 · related or exempt $94,966
-
11e · Other revenue, total
$94,966
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $149,575 · management and general $149,575
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $55,150 · program services $1,170 · management and general $53,980
-
8 · Pension plan contributions
total $3,921 · management and general $3,921
-
9 · Other employee benefits
total $24,953 · management and general $24,953
-
10 · Payroll taxes
total $15,744 · management and general $15,744
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $32,007 · program services $32,007
-
11c · Fees: accounting
total $22,764 · program services $15,779 · management and general $6,985
-
11d · Fees: lobbying
total $0
-
11f · Fees: investment management
total $16,357 · program services $11,063 · management and general $5,294
-
11g · Fees: other
total $0
-
12 · Advertising and promotion
total $1,894 · program services $1,725 · management and general $169
-
13 · Office expenses
total $9,013 · program services $2,372 · management and general $6,641
-
14 · Information technology
total $0
-
15 · Royalties
total $596,922 · program services $591,536 · management and general $5,386
-
16 · Occupancy
total $0
-
17 · Travel
total $0
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $0
-
20 · Interest
total $789,147 · program services $789,147
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $274,201 · program services $274,050 · management and general $151
-
23 · Insurance
total $48,652 · program services $44,900 · management and general $3,752
-
24a · Other expenses: Bad debt expense recovery
total -$1,548 · program services -$1,548
-
24b · Other expenses: Miscellaneous
total $9,539 · program services $580 · management and general $8,959
-
24c · Other expenses: Dues and other service fees
total $10,993 · management and general $10,993
-
24d · Other expenses: Grant expense
total $72,996 · program services $16,450 · management and general $56,546
-
24e · All other expenses
total $33,486 · program services $22,887 · management and general $10,599
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $47,116 · end of year $911,779
-
2 · Savings and temporary cash investments
beginning of year $198,328 · end of year $116,318
-
4 · Accounts receivable
beginning of year $256,834 · end of year $17,631
-
7 · Other notes and loans receivable
beginning of year $7,725,291 · end of year $7,324,213
-
9 · Prepaid expenses and deferred charges
beginning of year $3,326 · end of year $1,139
-
10a · Land, buildings and equipment: cost or other basis
$8,843,326
-
10b · Land, buildings and equipment: accumulated depreciation
$139,115
-
10c · Land, buildings and equipment, net
beginning of year $13,244,871 · end of year $8,704,211
-
11 · Investments: publicly traded securities
beginning of year $444,027 · end of year $503,003
-
12 · Investments: other securities
beginning of year $20,051 · end of year $28,681
-
15 · Other assets
beginning of year $7,150
-
17 · Accounts payable and accrued expenses
beginning of year $40,184 · end of year $136,452
-
19 · Deferred revenue
beginning of year $233,543 · end of year $3,538
-
23 · Secured mortgages and notes payable
beginning of year $15,592,311 · end of year $12,764,385
-
25 · Other liabilities
beginning of year $61,297 · end of year $67,244
-
27 · Net assets without donor restrictions
beginning of year $6,013,044 · end of year $4,628,741
-
28 · Net assets with donor restrictions
beginning of year $6,615 · end of year $6,615
Mission and programs · 2022
Mission
To promote development and growth of private industry in the greater St. Albans area and Franklin County as a whole
-
To provide rental space in a multi-tenant building to businesses for the purpose of promoting economic development in Franklin County
Expenses $393,853 · Revenue $406,836
-
To provide rental space to businesses in order to further encourage the development of industry in Franklin County
Expenses $1,146,310 · Revenue $1,242,331
-
To provide loans to area businesses and municipalities for acquisition and expansion purposesTo provide revolving loans for the creation of employment opportunities and/or the maintenance of existing jobs, particularly for the benefit of low income persons, displaced farm families and farm families needing to supplement their income. These funds are to be used for the purchase or expansion of land, buildings, machinery or equipment, start-up costs, feasibility studies or other working capital.
Expenses $258,498 · Revenue $115,317
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Evan Branon
Director
- Total calculated
- $118,172
- From this org
- $106,694
- From related orgs
- $0
- Other
- $11,478
- Hours/week
- 1
-
Leilani King
Director
- Total calculated
- $53,484
- From this org
- $37,558
- From related orgs
- $0
- Other
- $15,926
- Hours/week
- 1
-
Mark Lareau
Chair
- Total calculated
- $0
- Hours/week
- 1
-
Kevin Manahan
Vice Chair
- Total calculated
- $0
- Hours/week
- 1
-
Leon Berthiaume
Treasurer
- Total calculated
- $0
- Hours/week
- 1
-
Maureen Brown
Director
- Total calculated
- $0
- Hours/week
- 1
-
Patrick Calecas
Director
- Total calculated
- $0
- Hours/week
- 1
-
Kathy Lavoie
Director
- Total calculated
- $0
- Hours/week
- 1
-
Michael O'Brien
Director
- Total calculated
- $0
- Hours/week
- 1
-
Dean Pelkey
Director
- Total calculated
- $0
- Hours/week
- 1
-
Rebecca Stebbins
Director
- Total calculated
- $0
- Hours/week
- 1
-
Carl Rosenquist
Director
- Total calculated
- $0
- Hours/week
- 1
-
Coleen Condon
Director
- Total calculated
- $0
- Hours/week
- 1
-
Elizabeth Gamache
Director
- Total calculated
- $0
- Hours/week
- 1
-
Bill O'Brien left in FY 23
Director
- Total calculated
- $0
- Hours/week
- 1
-
Jess Graff
Director
- Total calculated
- $0
- Hours/week
- 1
-
Andrew Crossman
Director
- Total calculated
- $0
- Hours/week
- 1
-
Lisa Durocher
Director
- Total calculated
- $0
- Hours/week
- 1
-
Timothy Smith
Executive Director
- Total calculated
- $0
- Hours/week
- 40
-
Amy Kimball
Secretary
- Total calculated
- $0
- Hours/week
- 40
-
Bill O'Brien left in FY 23
Director
- Total calculated
- $0
- Hours/week
- 1
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.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 9 November 2023
- IRS schema version
- 2022v5.0
- Source object
- 202333139349300438
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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