Form 990 for tax year 2023
Filed by GREEN MOUNTAIN ECONOMIC DEVELOPMENT CORP.
Totals
- Total revenue
- $674,411
- Total expenses
- $636,599
- Contributions and grants received
- $338,136
- Grants paid
- $0
- Program service revenue
- $330,306
- Investment income
- $1
- Other revenue
- $5,968
- Total assets, end of year
- $5,245,114
- Total liabilities, end of year
- $5,154,687
- Net assets or fund balances, end of year
- $90,427
- Program services expenses (Part IX)
- $583,016
- Management and general expenses
- $41,808
- Fundraising expenses
- $11,775
- Program service expenses (Part III)
- $583,016
Program services were 91.6% 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)
$338,136
-
2a · Program service revenue: Property management fees
total $43,746 · related or exempt $43,746
-
2b · Program service revenue: Ineterst income - direct financing leases
total $252,005 · related or exempt $252,005
-
2c · Program service revenue: Service income
total $34,555 · related or exempt $34,555
-
3 · Investment income
total $1 · excluded $1
-
11a · Other revenue: Other income
total $5,968 · related or exempt $5,968
-
11e · Other revenue, total
$5,968
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 $88,125 · program services $74,906 · management and general $8,813 · fundraising $4,406
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $123,529 · program services $104,999 · management and general $12,353 · fundraising $6,177
-
8 · Pension plan contributions
total $7,262 · program services $6,173 · management and general $726 · fundraising $363
-
9 · Other employee benefits
total $0
-
10 · Payroll taxes
total $16,585 · program services $14,097 · management and general $1,659 · fundraising $829
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $10,895 · program services $8,171 · management and general $2,724
-
11c · Fees: accounting
total $11,640 · program services $8,730 · management and general $2,910
-
11d · Fees: lobbying
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $0
-
12 · Advertising and promotion
total $0
-
13 · Office expenses
total $3,064 · program services $2,298 · management and general $766
-
14 · Information technology
total $1,525 · program services $1,144 · management and general $381
-
15 · Royalties
total $0
-
16 · Occupancy
total $22,432 · program services $16,824 · management and general $5,608
-
17 · Travel
total $3,758 · program services $3,758
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $0
-
20 · Interest
total $192,005 · program services $192,005
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $0
-
23 · Insurance
total $11,818 · program services $8,863 · management and general $2,955
-
24a · Other expenses: Grant expenses
total $68,828 · program services $68,828
-
24b · Other expenses: Property taxes
total $60,000 · program services $60,000
-
24c · Other expenses: Communications
total $7,022 · program services $5,266 · management and general $1,756
-
24d · Other expenses: Dues subscriptions
total $2,653 · program services $1,989 · management and general $664
-
24e · All other expenses
total $5,458 · program services $4,965 · management and general $493
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $202,504 · end of year $108,209
-
2 · Savings and temporary cash investments
beginning of year $1,497 · end of year $1,497
-
4 · Accounts receivable
beginning of year $67,105 · end of year $54,323
-
7 · Other notes and loans receivable
beginning of year $4,401,741 · end of year $4,284,464
-
10a · Land, buildings and equipment: cost or other basis
$229,066
-
10b · Land, buildings and equipment: accumulated depreciation
$16,591
-
10c · Land, buildings and equipment, net
beginning of year $212,475 · end of year $212,475
-
15 · Other assets
beginning of year $295,789 · end of year $584,146
-
19 · Deferred revenue
beginning of year $499,660 · end of year $761,182
-
23 · Secured mortgages and notes payable
beginning of year $4,539,216 · end of year $4,332,062
-
25 · Other liabilities
beginning of year $89,620 · end of year $61,443
-
27 · Net assets without donor restrictions
beginning of year $22,615 · end of year $60,427
-
28 · Net assets with donor restrictions
beginning of year $30,000 · end of year $30,000
Mission and programs · 2023
Mission
To foster and develop economic vitality and prosperity consistent with the goals of the communities we serve.
-
To create new jobs and increase economic stability within the region.
Expenses $583,016 · Revenue $336,274
As filed on the 2023 return.
Listed in Part VII
-
Erika Hoffman-Kiess
Executive Director
- Total calculated
- $90,395
- From this org
- $82,500
- From related orgs
- $7,895
- Other
- $0
- Hours/week
- 40
-
Damian DiNcola
Chairman
- Total calculated
- $0
- Hours/week
- 1
-
Edwin S Childs
Secretary
- Total calculated
- $0
- Hours/week
- 1
-
Russel North
Treasurer
- Total calculated
- $0
- Hours/week
- 1
-
Joseph A Boyd
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Ken Cadow
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Lisa Henderson
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
James Masland
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Joshua Powers
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Jay Zanleoni
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Patricia Moulton Left in FY 24
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Cathy Tempesta Left in FY 24
Trustee
- 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
- 2023
- Filed
- 9 May 2025
- IRS schema version
- 2023v6.0
- Source object
- 202511299349303501
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