Skip to content
Nonprofiteer
← J WARREN & LOIS MCCLURE FOUNDATION INC

Form 990 for tax year 2023

Filed by J WARREN & LOIS MCCLURE FOUNDATION INC.

Totals

Total revenue
$656,884
Total expenses
$1,481,383
Contributions and grants received
$468,683
Grants paid
$1,135,026
Program service revenue
$0
Investment income
$188,201
Other revenue
$0
Total assets, end of year
$8,212,892
Total liabilities, end of year
$203,822
Net assets or fund balances, end of year
$8,009,070
Program services expenses (Part IX)
$1,153,645
Management and general expenses
$327,738
Fundraising expenses
$0
Program service expenses (Part III)
$1,153,645

Program services were 77.9% 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.

  • 1f · All other contributions, gifts and grants

    $468,683

  • 1g · Noncash contributions included above

    $313,683

  • 3 · Investment income

    total $149,871 · excluded $149,871

  • 7a · Gross sales of assets other than inventory

    securities $38,330

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

    securities $0

  • 7c · Gain or loss

    securities $38,330

  • 7d · Net gain or loss

    total $38,330 · excluded $38,330

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,135,026 · program services $1,135,026

  • 11a · Fees: management

    total $227,679 · management and general $227,679

  • 11f · Fees: investment management

    total $67,669 · management and general $67,669

  • 11g · Fees: other

    total $24,202 · program services $4,000 · management and general $20,202

  • 12 · Advertising and promotion

    total $8,657 · program services $8,057 · management and general $600

  • 13 · Office expenses

    total $3,012 · program services $3,012

  • 14 · Information technology

    total $88 · management and general $88

  • 17 · Travel

    total $829 · program services $829

  • 19 · Conferences, conventions and meetings

    total $4,924 · program services $2,571 · management and general $2,353

  • 23 · Insurance

    total $2,425 · management and general $2,425

  • 24a · Other expenses: DUES

    total $5,150 · program services $150 · management and general $5,000

  • 24b · Other expenses: PROFESSIONAL DEVELOPMEN

    total $1,722 · management and general $1,722

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,974 · end of year $76,813

  • 11 · Investments: publicly traded securities

    beginning of year $2,402,549 · end of year $3,682,272

  • 12 · Investments: other securities

    beginning of year $5,260,426 · end of year $4,048,931

  • 13 · Investments: program-related

    beginning of year $735,972 · end of year $404,876

  • 17 · Accounts payable and accrued expenses

    beginning of year $496 · end of year $8,322

  • 18 · Grants payable

    beginning of year $261,000 · end of year $195,500

  • 27 · Net assets without donor restrictions

    beginning of year $8,142,425 · end of year $8,009,070

Mission and programs · 2023

Mission

TO SUPPORT BROAD CHARITABLE PURPOSES, PRIMARILY IN THE STATE OF VERMONT.

  • THE J. WARREN & LOIS MCCLURE FOUNDATION ENVISIONS A VERMONT IN WHICH NO PROMISING JOB GOES UNFILLED FOR LACK OF A QUALIFIED APPLICANT AND WHERE COLLEGE AND CAREER TRAINING CONTRIBUTE TO GREATER EQUITY AND RESILIENCE. IN 2023, THE FOUNDATION PROVIDED 71 GRANTS IN SUPPORT OF ITS MISSION TO PROMOTE EQUITABLE ACCESS TO CAREER AND POSTSECONDARY EDUCATION FOR ALL VERMONTERS; ESPECIALLY LOW-INCOME STUDENTS AND FIRST-GENERATION COLLEGE STUDENTS. THOSE GRANTS SUPPORTED PROGRAMS IN ALL 14 COUNTIES IN VERMONT.

    Expenses $1,153,645 · Grants $1,135,026

As filed on the 2023 return.

Listed in Part VII

  • Barbara Benedict

    PRESIDENT

    Total calculated
    $0
    Hours/week
    8

  • Rebecca Henry

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Timothy J Donovan

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Daniel Smith

    SECRETARY

    Total calculated
    $290,442
    From this org
    $0
    From related orgs
    $229,526
    Other
    $60,916
    Hours/week
    4 + 48 related

    Schedule J breakdown matched by us

    Base
    $0 + $229,526 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $23,718 related
    Nontaxable benefits
    $0 + $37,198 related
    Filer's total
    $0 + $290,442 related

  • Janet McLaughlin

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Carolyn Weir

    EXECUTIVE DIRECTOR

    Total calculated
    $139,230
    From this org
    $115,798
    From related orgs
    $0
    Other
    $23,432
    Hours/week
    40

  • Lauren Curry

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Willard Jackson

    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 · Form 990 of other organizations

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3:
DAN SMITH IS THE PRESIDENT AND CEO OF THE VERMONT COMMUNITY FOUNDATION, THE SUPPORTED ORGANIZATION OF THE J. WARREN AND LOIS MCCLURE FOUNDATION. THE VERMONT COMMUNITY FOUNDATION'S BOARD OF DIRECTORS REVIEWS THE PRESIDENT/CEO'S SALARY ANNUALLY AND USES THE COUNCIL ON FOUNDATION'S ANNUAL SALARY SURVEY AS A GUIDELINE TO DETERMINE THE APPROPRIATENESS OF THE SALARY AND/OR ANY ADJUSTMENTS. THE FOUNDATION SEEKS TO HAVE THE PRESIDENT/CEO'S SALARY BE AT A REASONABLE RANGE AROUND THE MEDIAN SALARY PROVIDED BY THE COUNCIL ON FOUNDATION'S SURVEY FOR FOUNDATIONS OF COMPARABLE SIZE, AS ADJUSTED FOR THE REPORTING PERIOD LAG. ALL OTHER STAFF SALARIES ARE ESTABLISHED BY THE PRESIDENT AND VP FOR FINANCE/CFO USING THE SAME METHOD DESCRIBED ABOVE. JOBS ARE MATCHED TO THE COUNCIL ON FOUNDATION'S SURVEY POSITIONS BASED ON CONTENT AND RESPONSIBILITIES. PERFORMANCE REVIEWS ARE PERFORMED BY THE CEO ON AN ANNUAL BASIS FOR SENIOR MANAGEMENT.

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

  • COMMUNITY COLLEGE OF VERMONT - MONTPELIER

    $199,890

    TO SUPPORT ESTIMATED STUDENT COSTS (TUITION/FEES/STIPENDS) ASSOCIATED WITH THE MCCLURE FREE DEGREE PROMISE FOR THE FALL 2023 SEMESTER

  • COMMUNITY COLLEGE OF VERMONT - WINOOSKI

    $148,240

    FY24 "FREE DEGREE PROMISE" ADMINISTRATION GRANT

  • COMMUNITY COLLEGE OF VERMONT - WINOOSKI

    $115,000

    TO SUPPORT SECONDARY EDUCATION INITIATIVES IN FY24

  • COMMUNITY COLLEGE OF VERMONT - WINOOSKI

    $100,000

    TO SUPPORT CAREER LEARNING MANAGEMENT AND INTEGRATION IN FY24

  • COMMUNITY COLLEGE OF VERMONT - MONTPELIER

    $91,522

    TO SUPPORT STUDENT COSTS (TUITION/FEES/STIPENDS) ASSOCIATED WITH THE MCCLURE FREE DEGREE PROMISE FOR THE SUMMER 2023 SEMESTER

  • COMMUNITY COLLEGE OF VERMONT - MONTPELIER

    $80,871

    TO SUPPORT STUDENT COSTS (TUITION/FEES/STIPENDS) ASSOCIATED WITH THE MCCLURE FREE DEGREE PROMISE FOR THE FALL OF 2022 SEMESTER

  • COMMUNITY COLLEGE OF VERMONT - MONTPELIER

    $51,327

    TO SUPPORT STUDENT COSTS (TUITION/FEES/STIPENDS) ASSOCIATED WITH THE MCCLURE FREE DEGREE PROMISE FOR THE SPRING 2023 SEMESTER

  • VERMONT RURAL EDUCATION COLLABORATIVE

    $50,000

    TO SUPPORT GENERAL OPERATIONS FEBRUARY 2023-JUNE 2024, THE ULTIMATE GOAL OF HELPING ADVANCE TEACHER WORKFORCE DEVELOPMENT IN THE NEK

  • VERMONT STATE UNIVERSITY JOHNSON CAMPUS

    $50,000

    TO SUPPORT PILOTING STUDENT TEACHER SEMESTER STIPENDS AND ANALYZING THE PILOT FOR USE AS A DEMONSTRATION PROJECT.

  • VERMONT YOUTH CONSERVATION CORPS

    $50,000

    TO SUPPORT STRATEGIC VISIONING, BRANDING, AND MARKETING FOR THE SERVE LEARN EARN COLLABORATIVE FROM JULY 1, 2023 - JUNE 30, 2026

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
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202433209349326303

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

The source document this was parsed from is served over the API, which is where bulk and document access live.