Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $8,535,041

• 1f · All other contributions, gifts and grants

  $11,224,479

• 1g · Noncash contributions included above

  $152,963

• 2a · Program service revenue: Tuition and Fees

  total $33,417,064 · related or exempt $33,417,064

• 2b · Program service revenue: Miscellaneous Revenue

  total $518,862 · related or exempt $518,862

• 2c · Program service revenue: Auxiliary Enterprises

  total $157,784 · related or exempt $55,079 · excluded $102,705

• 3 · Investment income

  total $477,044 · excluded $477,044

• 7a · Gross sales of assets other than inventory

  securities $17,209,198

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

  securities $17,154,480

• 7c · Gain or loss

  securities $54,718

• 7d · Net gain or loss

  total $54,718 · excluded $54,718

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $1,595,089 · program services $1,595,089

• 2 · Grants to domestic individuals

  total $13,917,139 · program services $13,917,139

• 3 · Grants to foreign organizations and individuals

  total $169,772 · program services $169,772

• 5 · Compensation of officers, directors and key employees

  total $1,217,930 · management and general $1,217,930

• 7 · Other salaries and wages

  total $15,732,434 · program services $13,075,810 · management and general $2,056,429 · fundraising $600,195

• 8 · Pension plan contributions

  total $559,232 · program services $499,086 · management and general $37,237 · fundraising $22,909

• 9 · Other employee benefits

  total $2,919,958 · program services $2,149,259 · management and general $619,724 · fundraising $150,975

• 10 · Payroll taxes

  total $1,279,895 · program services $1,063,768 · management and general $167,299 · fundraising $48,828

• 11b · Fees: legal

  total $128,668 · management and general $128,668

• 11c · Fees: accounting

  total $59,365 · management and general $59,365

• 11f · Fees: investment management

  total $90,320 · management and general $90,320

• 11g · Fees: other

  total $2,602,048 · program services $1,431,163 · management and general $1,144,354 · fundraising $26,531

• 12 · Advertising and promotion

  total $504,286 · program services $80,066 · management and general $424,220

• 13 · Office expenses

  total $337,967 · program services $127,666 · management and general $173,169 · fundraising $37,132

• 14 · Information technology

  total $1,005,849 · program services $886,397 · management and general $106,520 · fundraising $12,932

• 16 · Occupancy

  total $1,049,418 · program services $928,562 · management and general $106,951 · fundraising $13,905

• 17 · Travel

  total $620,399 · program services $499,334 · management and general $56,365 · fundraising $64,700

• 19 · Conferences, conventions and meetings

  total $708,735 · program services $568,386 · management and general $47,398 · fundraising $92,951

• 20 · Interest

  total $426,618 · program services $383,327 · management and general $43,291

• 22 · Depreciation, depletion and amortization

  total $997,855 · program services $866,058 · management and general $117,193 · fundraising $14,604

• 23 · Insurance

  total $364,667 · management and general $364,667

• 24a · Other expenses: Other Expenses

  total $962,213 · program services $572,133 · management and general $345,019 · fundraising $45,061

• 24b · Other expenses: Library Resources

  total $404,702 · program services $404,702

• 24c · Other expenses: Student Activities

  total $179,805 · program services $62,005 · management and general $117,800

• 24d · Other expenses: Food Service

  total $165,306 · management and general $165,306

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $634 · end of year $834

• 2 · Savings and temporary cash investments

  beginning of year $3,666,438 · end of year $7,272,444

• 3 · Pledges and grants receivable

  beginning of year $4,396,591 · end of year $11,952,559

• 4 · Accounts receivable

  beginning of year $506,006 · end of year $460,819

• 7 · Other notes and loans receivable

  beginning of year $644,375 · end of year $525,935

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,222,473 · end of year $1,306,998

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

  $37,124,269

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

  $20,166,190

• 10c · Land, buildings and equipment, net

  beginning of year $17,591,992 · end of year $16,958,079

• 11 · Investments: publicly traded securities

  beginning of year $20,454,314 · end of year $17,264,318

• 14 · Intangible assets

  beginning of year $636,057 · end of year $513,942

• 15 · Other assets

  beginning of year $434 · end of year $436

• 17 · Accounts payable and accrued expenses

  beginning of year $1,537,431 · end of year $1,938,758

• 19 · Deferred revenue

  beginning of year $3,145,819 · end of year $3,275,046

• 23 · Secured mortgages and notes payable

  beginning of year $17,553,671 · end of year $17,187,019

• 25 · Other liabilities

  beginning of year $1,185,568 · end of year $960,613

• 27 · Net assets without donor restrictions

  beginning of year $6,293,784 · end of year $6,757,762

• 28 · Net assets with donor restrictions

  beginning of year $19,403,041 · end of year $26,137,166

The filer's explanations (Part III)

Form 990, Part VII, line 5:

During the calendar year 2024, the organization paid CliftonLarsonAllen, LLP, an unrelated organization, $6,034 for Rob Webber's services to the organization as Interim CFO. The amount paid to Rob Webber is unknown.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• VLS Campus Holdings LLC

  Real Estate Holding · VT · income $406,802 · assets $16,685,941

  Directly controlled by Vermont Law School