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← BRATTLEBORO DEVELOPMENT CREDIT CORP REAL ESTATE HOLDINGS II INC

Form 990 for tax year 2022

Filed by BRATTLEBORO DEVELOPMENT CREDIT CORP REAL ESTATE HOLDINGS II INC.

Totals

Total revenue
$785,503
Total expenses
$1,068,975
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$782,806
Investment income
$2,697
Other revenue
$0
Total assets, end of year
$21,698,939
Total liabilities, end of year
$21,451,231
Net assets or fund balances, end of year
$247,708
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

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: LEASE REVENUE

    total $782,806 · related or exempt $782,806

  • 3 · Investment income

    total $2,697 · excluded $2,697

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $83,512

  • 11c · Fees: accounting

    total $6,375

  • 11g · Fees: other

    total $4,940

  • 20 · Interest

    total $227,113

  • 22 · Depreciation, depletion and amortization

    total $738,701

  • 23 · Insurance

    total $8,334

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $333,476 · end of year $288,295

  • 4 · Accounts receivable

    beginning of year $26,475 · end of year $0

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

    $21,023,044

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

    $3,074,547

  • 10c · Land, buildings and equipment, net

    beginning of year $18,687,198 · end of year $17,948,497

  • 15 · Other assets

    beginning of year $2,922,341 · end of year $3,462,147

  • 17 · Accounts payable and accrued expenses

    beginning of year $0 · end of year $1,125

  • 23 · Secured mortgages and notes payable

    beginning of year $21,438,310 · end of year $21,450,106

  • 27 · Net assets without donor restrictions

    beginning of year $531,180 · end of year $247,708

Mission and programs · 2022

Mission

BRATTLEBORO DEVELOPMENT CREDIT CORPORATION REAL ESTATE HOLDINGS II, INC. IS A PUBLIC BENEFIT CORPORATION ORGANIZED AND OPERATED EXCLUSIVELY AS A CHAMBER OF COMMERCE WITHIN THE MEANING OF SECTION 501 (6) OF THE INTERNAL REVENUE CODE OF 1986 AS AMENDED, (SEE SCH O) AND FOR SPECIFICALLY STATED PURPOSES. WITHOUT IN ANY WAY LIMITED TO THE FOREGOING GENERAL PURPOSES, THE SPECIFIC PURPOSE OF THE CORPORATION IS TO FOSTER, ENCOURAGE, AND ASSIST BOTH THE PHYSICAL LOCATION OF BUSINESS ENTERPRISES WITHIN THE STATE OF VERMONT AND THE INDUSTRIAL AND ECONOMIC DEVELOPMENT OF WINDSOR AND WINDHAM COUNTIES.

Activities or mission (Part I)

TO FOSTER, ENCOURAGE, AND ASSIST THE PHYSICAL LOCATION OF BUSINESS ENTERPRISES WITHIN VERMONT.

  • THE CORPORATION WAS FORMED TO PURCHASE AND IMPROVE A MANUFACTURING FACILITY CONSISTING OF ONE BUILDING AND AN ADJACENT PARCEL OF LAND IN ROCKINGHAM, VERMONT AS WELL AS ACQUIRE CERTAIN MANUFACTURING EQUIPMENT. THE CORPORATION LEASES THE FACILITY AND EQUIPMENT TO CHROMA TECHNOLOGY CORP.,(THE "TENANT") A REGIONAL MANUFACTURING COMPANY. THESE ACTIVITIES WILL FOSTER, ENCOURAGE, AND ASSIST THE TENANT TO CONTINUE TO EXPAND ITS OPERATIONS.

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • ADAM GRINOLD

    PRESIDENT

    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

  • CRAIG MISKOVICH

    SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • DART EVERETT

    TREASURER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • 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

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
202420599349301147

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