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Nonprofiteer
← CYNOSURE INC

Form 990 for tax year 2023

Filed by CYNOSURE INC.

Totals

Total revenue
$1,203,313
Total expenses
$967,706
Contributions and grants received
$0
Grants paid
$644,000
Program service revenue
$1,058,758
Investment income
$144,555
Other revenue
$0
Total assets, end of year
$5,801,212
Total liabilities, end of year
$76,484
Net assets or fund balances, end of year
$5,724,728
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.

  • 2a · Program service revenue: RENTAL INCOME

    total $1,058,758 · related or exempt $1,058,758

  • 3 · Investment income

    total $126,498 · excluded $126,498

  • 7a · Gross sales of assets other than inventory

    securities $415,022

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

    securities $396,965

  • 7c · Gain or loss

    securities $18,057

  • 7d · Net gain or loss

    total $18,057 · excluded $18,057

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $644,000

  • 11b · Fees: legal

    total $23,856

  • 11c · Fees: accounting

    total $10,550

  • 11f · Fees: investment management

    total $12,621

  • 12 · Advertising and promotion

    total $8,788

  • 13 · Office expenses

    total $3,800

  • 17 · Travel

    total $40,024

  • 22 · Depreciation, depletion and amortization

    total $102,130

  • 24a · Other expenses: INVESTMENT PROPERTY OPS

    total $88,689

  • 24b · Other expenses: CONSULTING SERVICES

    total $24,253

  • 24c · Other expenses: CONTRIBUTIONS

    total $4,260

  • 24d · Other expenses: DUES AND SUBSCRIPTIONS

    total $3,420

  • 24e · All other expenses

    total $1,315

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $16,469 · end of year $51,577

  • 2 · Savings and temporary cash investments

    beginning of year $665,852 · end of year $583,722

  • 4 · Accounts receivable

    beginning of year $232,213 · end of year $196,274

  • 9 · Prepaid expenses and deferred charges

    beginning of year $10,899 · end of year $15,161

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

    $7,079,644

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

    $4,710,825

  • 10c · Land, buildings and equipment, net

    beginning of year $2,136,190 · end of year $2,368,819

  • 11 · Investments: publicly traded securities

    beginning of year $2,155,238 · end of year $2,547,925

  • 14 · Intangible assets

    beginning of year $12,109 · end of year $6,055

  • 15 · Other assets

    beginning of year $6,012 · end of year $31,679

  • 17 · Accounts payable and accrued expenses

    beginning of year $10,384 · end of year $20,170

  • 25 · Other liabilities

    beginning of year $30,647 · end of year $56,314

  • 27 · Net assets without donor restrictions

    beginning of year $5,193,951 · end of year $5,724,728

Mission and programs · 2023

Mission

TO UNIFY AND COORDINATE PUBLIC AND PRIVATE EFFORTS DIRECTED TOWARD THE ATTRACTION, ENCOURAGEMENT, FINANCING AND DEVELOPMENT OF PRIVATE INDUSTRY AND COMMERCE WITHIN THE GREATER BURLINGTON AREA AND OTHER MUNICIPALITIES OF CHITTENDEN COUNTY FOR THE PURPOSE OF PROMOTING, INCREASING AND STABILIZING OPPORTUNITIES FOR GAINFUL EMPLOYMENT, IMPROVEMENT OF ECONOMIC CONDITIONS AND GENERAL WELFARE.

  • FINANCING OF INDUSTRIAL DEVELOPMENT LOANS AND RECEIVABLES TO VARIOUS QUALIFIED BUSINESSES THROUGHOUT THE GREATER BURLINGTON, VT AREA.

  • LEASING OF AFFORDABLE INDUSTRIAL DEVELOPMENT PROPERTY TO PROMOTE BUSINESS IN THE AREA.

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Frank Cioffi

    PRESIDENT, S

    Total calculated
    $260,395
    From this org
    $0
    From related orgs
    $205,795
    Other
    $54,600
    Hours/week
    20

    Schedule J breakdown matched by us

    Base
    not reported + $205,795 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported + $20,580 related
    Nontaxable benefits
    not reported + $34,020 related
    Filer's total
    not reported + $260,395 related

  • Dan Smith

    CHAIRPERSON

    Total calculated
    $0
    Hours/week
    2

  • Pam MacKenzie

    VICE CHAIRPE

    Total calculated
    $0
    Hours/week
    2

  • Ernest A Pomerleau

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Brad Aldrich

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Ethan Bechtel

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • David Bradbury

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Chris D'Elia

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Rich Smith

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Peter Sylvester

    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

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
2 December 2024
IRS schema version
2023v5.0
Source object
202403399349301405

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