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← SOUTHEASTERN VERMONT ECONOMIC DEVELOPMENT STRATEGIES INC

Form 990 for tax year 2022

Filed by SOUTHEASTERN VERMONT ECONOMIC DEVELOPMENT STRATEGIES INC.

Totals

Total revenue
$176,768
Total expenses
$162,330
Contributions and grants received
$161,542
Grants paid
$0
Program service revenue
$1,497
Investment income
$2,435
Other revenue
$11,294
Total assets, end of year
$160,495
Total liabilities, end of year
$6,844
Net assets or fund balances, end of year
$153,651
Program services expenses (Part IX)
$152,103
Management and general expenses
$10,227
Fundraising expenses
$0
Program service expenses (Part III)
$152,103

Program services were 93.7% 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.

  • 1d · Related organizations

    $50,000

  • 1e · Government grants (contributions)

    $111,492

  • 1f · All other contributions, gifts and grants

    $50

  • 2a · Program service revenue: YOUNG PROFESSIONALS

    total $1,497 · related or exempt $1,497

  • 3 · Investment income

    total $2,435 · excluded $2,435

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $11,294 · related or exempt $11,294

  • 11e · Other revenue, total

    $11,294

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $106,880 · program services $98,393 · management and general $8,487

  • 8 · Pension plan contributions

    total $2,935 · program services $2,935

  • 9 · Other employee benefits

    total $15,407 · program services $15,407

  • 10 · Payroll taxes

    total $9,496 · program services $9,496

  • 11c · Fees: accounting

    total $4,603 · program services $4,313 · management and general $290

  • 12 · Advertising and promotion

    total $3,930 · program services $3,682 · management and general $248

  • 13 · Office expenses

    total $17,296 · program services $16,206 · management and general $1,090

  • 17 · Travel

    total $1,783 · program services $1,671 · management and general $112

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $143,666 · end of year $160,495

  • 17 · Accounts payable and accrued expenses

    beginning of year $0 · end of year $271

  • 19 · Deferred revenue

    beginning of year $4,453 · end of year $6,573

  • 27 · Net assets without donor restrictions

    beginning of year $139,213 · end of year $153,651

Mission and programs · 2022

Mission

SEVEDS EXISTS TO REVERSE THE WINDHAM REGIONS ECONOMIC DECLINE. WE ENVISION DEVELOPING THE SOUTHERN VERMONT ECONOMY TO GENERATE LONG-TERM GROWTH AND PROSPERITY, IMPROVE THE REGIONS QUALITY OF LIFE, AND SUSTAIN ITS QUALITY OF PLACE.

Activities or mission (Part I)

SEVEDS EXISTS TO REVERSE THE WINDHAM REGIONS ECONOMIC DECLINE. (SEE SCHEDULE O)WE ENVISION DEVELOPING THE SOUTHERN VERMONT ECONOMY TO GENERATE LONG-TERM GROWTH AND PROSPERITY, IMPROVE THE REGIONS QUALITY OF LIFE, AND SUSTAIN ITS QUALITY OF PLACE.

  • MAINTAIN A VALID WINDHAM REGION "COMPREHENSIVE ECONOMIC DEVELOPMENT STRATEGY AND SUPPORT AND CO-ADMINISTER AN EDA FUNDED JOINT CEDS TO THE BENEFIT OF WINDHAM AND BENNINGTON COUNTIES. SUPPORT WORKFORCE CENTER OF EXCELLENCE COLLABORATIVE BETWEEN PROVIDERS AND USERS OF WORKFORCE DEVELOPMENT SERVICES.

    Expenses $152,103 · Revenue $12,791

As filed on the 2022 return.

Listed in Part VII

  • Wendy Harrison

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Meg Streeter

    VICE-CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Gary Fox

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Bill Colvin

    CLERK

    Total calculated
    $0
    Hours/week
    1

  • Samba Diallo

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Peter Carvell

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Adam Grinold

    EXECUTIVE DIRECTOR

    Total calculated
    $152,968
    From this org
    $0
    From related orgs
    $148,513
    Other
    $4,455
    Hours/week
    1 + 42 related

    Schedule J breakdown matched by us

    Base
    $0 + $148,513 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $4,455 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $152,968 related

  • Mary Ann Kristiansen

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Keith Marks

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Drew Richards

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Avery Schwenk

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Sue Westa

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Tom Cain

    DIRECTOR (JOINED FY 2023)

    Total calculated
    $0
    Hours/week
    1

  • Kathleen McGraw

    DIRECTOR (JOINED FY 2023)

    Total calculated
    $0
    Hours/week
    1

  • Robert Stevens

    DIRECTOR (RESIGNED - 7/1/22)

    Total calculated
    $0
    Hours/week
    0 + 1 related

  • Konstantin Von Krusenstiern

    DIRECTOR (RESIGNED - 7/1/22)

    Total calculated
    $0
    Hours/week
    0

  • Bobbi Kilburn

    DIRECTOR OF FINANCE

    Total calculated
    $125,280
    From this org
    $0
    From related orgs
    $115,680
    Other
    $9,600
    Hours/week
    1 + 42 related

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

None.

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
THE RELATED ORGANIZATION THAT COMPENSATES THE CEO/EXECUTIVE DIRECTOR USE THE FOLLOWING METHODS TO ESTABLISH THEIR COMPENSATION: - COMPENSATION COMMITTEE - APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE

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.

Provenance

Return type
form_990
Tax year
2022
Filed
5 February 2024
IRS schema version
2022v5.0
Source object
202410599349301206

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