Form 990 for tax year 2024
Filed by NORTHEAST KINGDOM DEVELOPMENT CORPORATION.
Totals
- Total revenue
- $3,819,342
- Total expenses
- $549,448
- Contributions and grants received
- $3,412,154
- Grants paid
- $0
- Program service revenue
- $11,000
- Investment income
- $106,204
- Other revenue
- $289,984
- Total assets, end of year
- $9,226,381
- Total liabilities, end of year
- $3,913,093
- Net assets or fund balances, end of year
- $5,313,288
- Program services expenses (Part IX)
- $549,448
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $549,448
Program services were 100.0% 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.
-
1e · Government grants (contributions)
$3,332,354
-
1f · All other contributions, gifts and grants
$79,800
-
2a · Program service revenue: Rental Income
total $11,000 · related or exempt $11,000
-
3 · Investment income
total $106,204 · excluded $106,204
-
11a · Other revenue: Lessee Reimbursement
total $144,193 · related or exempt $144,193
-
11b · Other revenue: Debt Forgiveness Income
total $21,394 · related or exempt $21,394
-
11d · All other revenue
total $124,397 · related or exempt $124,397
-
11e · Other revenue, total
$289,984
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 $0
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $0
-
8 · Pension plan contributions
total $0
-
9 · Other employee benefits
total $0
-
10 · Payroll taxes
total $0
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $17,700 · program services $17,700
-
11c · Fees: accounting
total $0
-
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 $106 · program services $106
-
14 · Information technology
total $0
-
15 · Royalties
total $0
-
16 · Occupancy
total $486 · program services $486
-
17 · Travel
total $0
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $0
-
20 · Interest
total $252,012 · program services $252,012
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $0
-
23 · Insurance
total $21,049 · program services $21,049
-
24a · Other expenses: Real Estate Taxes
total $42,557 · program services $42,557
-
24b · Other expenses: Consultants/Contracts
total $215,137 · program services $215,137
-
24e · All other expenses
total $401 · program services $401
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $578,215 · end of year $445,722
-
2 · Savings and temporary cash investments
beginning of year $14,728
-
3 · Pledges and grants receivable
beginning of year $250,000
-
4 · Accounts receivable
beginning of year $155,984
-
7 · Other notes and loans receivable
beginning of year $7,865,430 · end of year $7,865,430
-
10a · Land, buildings and equipment: cost or other basis
$1,015,230
-
10b · Land, buildings and equipment: accumulated depreciation
$100,001
-
10c · Land, buildings and equipment, net
beginning of year $1,015,230 · end of year $915,229
-
17 · Accounts payable and accrued expenses
beginning of year $76,928 · end of year $31,157
-
23 · Secured mortgages and notes payable
beginning of year $7,179,217 · end of year $3,881,936
-
25 · Other liabilities
beginning of year $3,103
-
27 · Net assets without donor restrictions
beginning of year $2,620,339 · end of year $5,313,288
Mission and programs · 2024
Mission
Fostering, encouraging and assisting the physical location of business enterprises within the States of Vermont and New Hampshire, and having its principal purpose be industrial and economic development of one or more political subdivisions of those states
Activities or mission (Part I)
Fostering, encouraging and assisting the physical location of business enterprises within the States of Vermont and New Hampshire and having its principal purpose be industrial and economic development
-
Yellow Barn Yellow Barn is a unique public-private endeavor to offer best-in-class production and administrative space to new and expanding businesses at highly competitive rates. The Town of Hardwick owns the Yellow Barn. The Northeast Kingdom Development Corporation, a non-profit economic development entity, will act as fiscal agent for the facility. The Center for an Agricultural Economy will provide managerial oversight to the accelerator spaces available to new and expanding farm- and food-related businesses.
Expenses $549,448
As filed on the 2024 return.
Listed in Part VII
-
Aminta ConantAMINTA CONANT
PRESIDENT
- Total calculated
- $0
- Hours/week
- 10
-
Richard IsabelleRICHARD ISABELLE
VICE PRESIDENT
- Total calculated
- $0
- Hours/week
- 10
-
Kimberly ButlerKIMBERLY BUTLER
SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
Tom RobinsonTOM ROBINSON
TREASURER / DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Eric RemickERIC REMICK
DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
David SnedekerDAVID SNEDEKER
DIRECTOR
- 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
- 2024
- Filed
- 19 November 2025
- IRS schema version
- 2024v5.2
- Source object
- 202523239349300837
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