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Nonprofiteer
← GREATER BURLINGTON INDUS CORP

Form 990 for tax year 2022

Filed by GREATER BURLINGTON INDUS CORP.

Totals

Total revenue
$887,041
Total expenses
$803,960
Contributions and grants received
$799,952
Grants paid
$0
Program service revenue
$0
Investment income
$39,106
Other revenue
$47,983
Total assets, end of year
$6,131,354
Total liabilities, end of year
$2,472,461
Net assets or fund balances, end of year
$3,658,893
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.

  • 1b · Membership dues

    $72,213

  • 1d · Related organizations

    $597,000

  • 1e · Government grants (contributions)

    $118,508

  • 1f · All other contributions, gifts and grants

    $12,231

  • 3 · Investment income

    total $57,670 · excluded $57,670

  • 6a · Gross rents

    real property $262,667

  • 6b · Less rental expenses

    real property $214,684

  • 6c · Rental income or loss

    real property $47,983

  • 6d · Net rental income or loss

    total $47,983 · excluded $47,983

  • 7a · Gross sales of assets other than inventory

    securities $68,452

  • 7b · Less cost or other basis and sales expenses

    securities $87,016

  • 7c · Gain or loss

    securities -$18,564

  • 7d · Net gain or loss

    total -$18,564 · excluded -$18,564

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $247,848

  • 7 · Other salaries and wages

    total $217,515

  • 8 · Pension plan contributions

    total $20,040

  • 9 · Other employee benefits

    total $7,090

  • 10 · Payroll taxes

    total $29,765

  • 11b · Fees: legal

    total $1,653

  • 11c · Fees: accounting

    total $15,510

  • 11f · Fees: investment management

    total $7,844

  • 12 · Advertising and promotion

    total $16,305

  • 13 · Office expenses

    total $11,555

  • 17 · Travel

    total $17,239

  • 19 · Conferences, conventions and meetings

    total $50,936

  • 20 · Interest

    total $139

  • 22 · Depreciation, depletion and amortization

    total $15,949

  • 23 · Insurance

    total $8,227

  • 24a · Other expenses: OUTSIDE SERVICES

    total $66,841

  • 24b · Other expenses: OPERATING EXP.- CAT. PARK

    total $39,971

  • 24c · Other expenses: TELEPHONE

    total $15,708

  • 24d · Other expenses: DUES AND SUBSCRIPTIONS

    total $6,681

  • 24e · All other expenses

    total $7,144

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $229,204 · end of year $220,801

  • 2 · Savings and temporary cash investments

    beginning of year $372,956 · end of year $358,296

  • 3 · Pledges and grants receivable

    beginning of year $31,195 · end of year $56,966

  • 4 · Accounts receivable

    beginning of year $15,930 · end of year $13,710

  • 9 · Prepaid expenses and deferred charges

    beginning of year $15,665 · end of year $17,384

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

    $3,298,348

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

    $639,827

  • 10c · Land, buildings and equipment, net

    beginning of year $2,700,798 · end of year $2,658,521

  • 11 · Investments: publicly traded securities

    beginning of year $1,352,985 · end of year $1,530,985

  • 14 · Intangible assets

    beginning of year $9,670 · end of year $8,012

  • 15 · Other assets

    beginning of year $1,058,019 · end of year $1,266,679

  • 17 · Accounts payable and accrued expenses

    beginning of year $91,855 · end of year $40,293

  • 23 · Secured mortgages and notes payable

    beginning of year $1,212,841 · end of year $1,165,489

  • 25 · Other liabilities

    beginning of year $1,058,019 · end of year $1,266,679

  • 27 · Net assets without donor restrictions

    beginning of year $3,423,707 · end of year $3,658,893

Mission and programs · 2022

Mission

TO ATTRACT, RETAIN, AND EXPAND ENVIRONMENTALLY SENSITIVE HIGH-PAYING JOBS IN THE CHAMPLAIN VALLEY; AND TO INITIATE AND SUPPORT ADVOCACY, EDUCATION, AND COLLABORATIVE PROGRAMS IN PROMOTING OUR VISION.

  • THE CORPORATION'S PURPOSE IS PROMOTING INDUSTRIAL DEVELOPMENT, CREATING QUALITY JOBS AND ASSISTING IN WORKFORCE DEVELOPMENT IN THE CHITTENDEN COUNTY, VERMONT AREA.

  • THE CORPORATION PROVIDES ADMINISTRATIVE SUPPORT FOR AN AFFILIATED NON- PROFIT ORGANIZATION. CYNOSURE,INC. SERVES AS THE FINANCIAL ARM OF THE GREATER BURLINGTON INDUSTRIAL CORPORATION AS IT ASSISTS BUSINESSES IN OBTAINING REAL ESTATE FINANCING AND CONTRACTS TO BUILD, AND ALSO LEASES PLANT SPACE IN THE GREATER BURLINGTON, VERMONT AREA.

  • OTHER FUNCTIONS OF THE CORPORATION INCLUDE ADMINISTRATION, ADMINISTRATION OF AGENCY ARRANGEMENTS AND OTHER INDIRECT MANAGEMENT SERVICES.

As filed on the 2022 return.

Listed in Part VII

  • Frank Cioffi

    PRESIDENT/SE

    Total calculated
    $236,172
    From this org
    $197,880
    From related orgs
    $0
    Other
    $38,292
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $197,880
    Bonus
    not reported
    Other
    not reported
    Deferred
    $5,936
    Nontaxable benefits
    $32,356
    Filer's total
    $236,172

  • Tim Shea

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    2

  • Peter Sylvester

    VICE CHAIRMA

    Total calculated
    $0
    Hours/week
    2

  • Ernest A Pomerleau

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Ted Adler

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Brad Aldrich

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Charlie Baker

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Tim Baechle

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Ethan Bechtel

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Eric Bergstrom

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Kelly Devine

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Rocki-Lee Dewitt

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Jim Donohue

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • John Evans

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Moe Germain

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Ben Hardy

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Jaime Heins

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Eve Hoar

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Jack McMullen

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Pam MacKenzie

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Jon Pizzagalli

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Samantha Roach-Gerber

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • David Rose

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Emilie Schweikert

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Heidi Stumpff

    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

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • 60 MAIN STREET BTV LLC

    RENTAL · VT · income $262,667 · assets $2,651,611

    Directly controlled by GBIC

Provenance

Return type
form_990
Tax year
2022
Filed
14 November 2023
IRS schema version
2022v5.0
Source object
202343189349308909

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