Vermont Employee Ownership Center Inc
- Assets
- $281.6k
- Revenue
- $207.0k
- Investments
- $0.0
- Employees
- 4
- Location
- Burlington, VT
- Founding
- 12/2002
- Data as of
- 09/2022
- EIN
- 01-0694256
Organization Overview
Vermont Employee Ownership Center Inc is located in Burlington, VT. The organization was established in 2002. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 09/2022, Vermont Employee Ownership Center Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Vermont Employee Ownership Center Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2022, Vermont Employee Ownership Center Inc generated $207.0k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.9% each year. All expenses for the organization totaled $217.9k during the year ending 09/2022. While expenses have increased by 13.4% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE AND FOSTER EMPLOYEE OWNERSHIP IN VERMONT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
VEOC PRESENTS EDUCATIONAL EVENTS ON THE TOPIC OF EMPLOYEE OWNERSHIP AND CONSULTS WITH BUSINESS OWNERS AND EMPLOYEES THAT ARE EXPLORING EMPLOYEE OWNERSHIP OPTIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Matthew Cropp Key Employee | Officer | 35 | $57,100 |
Chris Moran Vice President | Officer | 0.5 | $0 |
Michael Gurdon Secretary | Officer | 0.5 | $0 |
Cindy Turcot Treasurer | Officer | 0.5 | $0 |
John Durgin President | Officer | 0.5 | $0 |
Linda Rossi | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $192,790 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $192,790 |
| Total Program Service Revenue | $13,503 |
| Investment income | $668 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $206,961 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $24,999 |
| Compensation of current officers, directors, key employees. | $1,250 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $113,220 |
| Pension plan accruals and contributions | $3,650 |
| Other employee benefits | $3,666 |
| Payroll taxes | $10,574 |
| Fees for services: Management | $1,075 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $874 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,544 |
| Advertising and promotion | $204 |
| Office expenses | $3,359 |
| Information technology | $227 |
| Royalties | $0 |
| Occupancy | $6,875 |
| Travel | $2,247 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $662 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,117 |
| All other expenses | $0 |
| Total functional expenses | $217,863 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,597 |
| Savings and temporary cash investments | $44,161 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $228,853 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,000 |
| Total assets | $281,611 |
| Accounts payable and accrued expenses | $3,832 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $3,832 |
| Net assets without donor restrictions | $182,779 |
| Net assets with donor restrictions | $95,000 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $281,611 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Vermont Employee Ownership Center Inc has recieved totaling $38,500.
| Awarding Organization | Amount |
|---|---|
Vermont Community Foundation Middlebury, VT PURPOSE: GENERAL PURPOSE | $37,000 |
Carris Foundation Inc Proctor, VT PURPOSE: TO SUPPORT THE PROMOTION OF EMPLOYEE OWNERSHIP | $1,500 |
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