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Nonprofiteer
← VERMONT PERMANENCY INITIATIVE INC

Form 990 for tax year 2023

Filed by VERMONT PERMANENCY INITIATIVE INC.

Totals

Total revenue
$16,503,883
Total expenses
$13,848,851
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$16,084,596
Investment income
$414,364
Other revenue
$4,923
Total assets, end of year
$18,522,954
Total liabilities, end of year
$2,803,471
Net assets or fund balances, end of year
$15,719,483
Program services expenses (Part IX)
$11,710,645
Management and general expenses
$2,138,206
Fundraising expenses
$0
Program service expenses (Part III)
$11,710,645

Program services were 84.6% 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.

  • 2a · Program service revenue: Tuition, Room & Board

    total $16,084,596 · related or exempt $16,084,596

  • 3 · Investment income

    total $400,636 · excluded $400,636

  • 6a · Gross rents

    real property $4,923

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $4,923

  • 6d · Net rental income or loss

    total $4,923 · excluded $4,923

  • 7a · Gross sales of assets other than inventory

    other assets $13,728

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

    other assets $0

  • 7c · Gain or loss

    other assets $13,728

  • 7d · Net gain or loss

    total $13,728 · excluded $13,728

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $192,950 · program services $160,043 · management and general $32,907

  • 7 · Other salaries and wages

    total $8,042,461 · program services $6,796,728 · management and general $1,245,733

  • 8 · Pension plan contributions

    total $92,366 · program services $78,136 · management and general $14,230

  • 9 · Other employee benefits

    total $1,680,713 · program services $1,419,868 · management and general $260,845

  • 10 · Payroll taxes

    total $652,456 · program services $551,169 · management and general $101,287

  • 11b · Fees: legal

    total $8,304 · management and general $8,304

  • 11c · Fees: accounting

    total $27,000 · management and general $27,000

  • 11g · Fees: other

    total $241,685 · program services $211,184 · management and general $30,501

  • 12 · Advertising and promotion

    total $4,121 · program services $3,481 · management and general $640

  • 13 · Office expenses

    total $1,179,112 · program services $1,008,224 · management and general $170,888

  • 16 · Occupancy

    total $428,850 · program services $362,316 · management and general $66,534

  • 17 · Travel

    total $218,493 · program services $196,254 · management and general $22,239

  • 19 · Conferences, conventions and meetings

    total $113,683 · program services $113,683

  • 20 · Interest

    total $109,067 · program services $82,159 · management and general $26,908

  • 22 · Depreciation, depletion and amortization

    total $483,476 · program services $408,421 · management and general $75,055

  • 23 · Insurance

    total $197,956 · program services $167,225 · management and general $30,731

  • 24a · Other expenses: Student Activities

    total $62,739 · program services $46,650 · management and general $16,089

  • 24b · Other expenses: Bad Debts

    total $59,859 · program services $59,859

  • 24c · Other expenses: Miscellaneous

    total $53,560 · program services $45,245 · management and general $8,315

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $6,708,339 · end of year $9,369,980

  • 3 · Pledges and grants receivable

    beginning of year $1,264,766 · end of year $220,656

  • 4 · Accounts receivable

    beginning of year $1,944,144 · end of year $2,270,744

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $175,000

  • 9 · Prepaid expenses and deferred charges

    beginning of year $188,125 · end of year $336,076

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

    $8,419,133

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

    $3,100,181

  • 10c · Land, buildings and equipment, net

    beginning of year $4,696,992 · end of year $5,318,952

  • 14 · Intangible assets

    beginning of year $25,405 · end of year $12,128

  • 15 · Other assets

    beginning of year $863,621 · end of year $819,418

  • 17 · Accounts payable and accrued expenses

    beginning of year $578,933 · end of year $925,860

  • 23 · Secured mortgages and notes payable

    beginning of year $1,908,070 · end of year $1,752,407

  • 25 · Other liabilities

    beginning of year $139,938 · end of year $125,204

  • 27 · Net assets without donor restrictions

    beginning of year $13,064,451 · end of year $15,719,483

Mission and programs · 2023

Mission

Operation of school and residential treatment facilities for at risk children and youth together with related community based services for youth and families to support community engagement and transition.

Activities or mission (Part I)

To establish, organize, maintain and conduct a program for the education and treatment of youth in the state of Vermont.

  • Provide residential treatment and related education and ancillary services to adolescents and young adults.

    Expenses $11,710,645 · Revenue $16,084,596

As filed on the 2023 return.

Listed in Part VII

  • Robert Bannon

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Andrew Ribolini

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Kendall Turner

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Amy Egbert

    Past Trustee

    Total calculated
    $0
    Hours/week
    1

  • Jeffrey Caron

    President

    Total calculated
    $140,208
    From this org
    $135,000
    From related orgs
    $0
    Other
    $5,208
    Hours/week
    10

  • Jeffrey Park

    Secretary

    Total calculated
    $0
    Hours/week
    1

  • John Sears

    CFO

    Total calculated
    $52,742
    From this org
    $46,369
    From related orgs
    $0
    Other
    $6,373
    Hours/week
    10

  • Steven Lussier

    Executive Director

    Total calculated
    $142,879
    From this org
    $118,633
    From related orgs
    $0
    Other
    $24,246
    Hours/week
    40

  • Catherine Redlein

    Past Clinical Director

    Total calculated
    $134,219
    From this org
    $111,348
    From related orgs
    $0
    Other
    $22,871
    Hours/week
    40

  • Jessica McGowan

    Head Of Schools

    Total calculated
    $110,768
    From this org
    $106,134
    From related orgs
    $0
    Other
    $4,634
    Hours/week
    40

  • Arthur Racette

    Director of Operations

    Total calculated
    $130,141
    From this org
    $125,142
    From related orgs
    $0
    Other
    $4,999
    Hours/week
    40

  • Laurae Baker

    Former Vice President

    Total calculated
    $110,591
    From this org
    $104,552
    From related orgs
    $0
    Other
    $6,039
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $104,552
    Bonus
    $0
    Other
    $0
    Deferred
    $2,613
    Nontaxable benefits
    $3,426
    Filer's total
    $110,591

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
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment

Answered no

  • 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 4a
During calendar year 2023, Catherine Redlein, Past Clinical Director, received a severance payment of $15,481.
Schedule J, Part II: Unrelated Organization Compensation
During the calendar year 2023, John Sears, CFO was compensated $52,742 by Mount Prospect Academy, an unrelated organization, for services rendered to the filing organization.

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.

Provenance

Return type
form_990
Tax year
2023
Filed
14 May 2025
IRS schema version
2023v6.0
Source object
202531359349302223

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