Central Vermont Adult Basic Education Inc
- Assets
- $1.5m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 21
- Location
- Barre, VT
- Founding
- 05/1992
- Data as of
- 06/2022
- EIN
- 03-0238309
Organization Overview
Central Vermont Adult Basic Education Inc is located in Barre, VT. The organization was established in 1992. According to its NTEE Classification (B60) the organization is classified as: Adult Education, under the broad grouping of Education and related organizations. As of 06/2022, Central Vermont Adult Basic Education Inc employed 21 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Central Vermont Adult Basic Education 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 06/2022, Central Vermont Adult Basic Education Inc generated $1.5m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.4%) each year. All expenses for the organization totaled $1.4m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (1.2%) per year over the past 7 years. 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
CENTRAL VERMONT ADULT BASIC EDUCATION (CVABE) PROVIDES ADULT EDUCATION AND LITERACY (AEL) SERVICES FOR STUDENTS THROUGHOUT THE 47 TOWNS AND CITIES OF VERMONT'S WASHINGTON, ORANGE AND LAMOILLE COUNTIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE STATEMENT OF ADDITIONAL INFORMATION - PROGRAM SERVICE ACCOMPLISHMENTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carol Shults-Perkins Executive Director | Officer | 32 | $85,250 |
Carol Dawes Treasurer | OfficerTrustee | 0.47 | $0 |
Christina Currier Secretary | OfficerTrustee | 0.08 | $0 |
Mary Grace Vice President | OfficerTrustee | 1.63 | $0 |
Nancy Mccann President | OfficerTrustee | 2.12 | $0 |
Sherry Barnard Director | Trustee | 1.04 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,177,171 |
| All other contributions, gifts, grants, and similar amounts not included above | $269,873 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,447,044 |
| Total Program Service Revenue | $1,255 |
| Investment income | $2,963 |
| 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 | $1,451,262 |
| 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. | $85,412 |
| Compensation of current officers, directors, key employees. | $42,706 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $652,526 |
| Pension plan accruals and contributions | $53,661 |
| Other employee benefits | $155,904 |
| Payroll taxes | $57,207 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,865 |
| Fees for services: Lobbying | $7,714 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $40,493 |
| Advertising and promotion | $27,068 |
| Office expenses | $14,702 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $173,537 |
| Travel | $3,030 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,549 |
| Insurance | $9,568 |
| All other expenses | $0 |
| Total functional expenses | $1,360,038 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,359 |
| Savings and temporary cash investments | $1,132,933 |
| Pledges and grants receivable | $163,556 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $34,960 |
| Net Land, buildings, and equipment | $18,470 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $100,038 |
| Total assets | $1,454,316 |
| Accounts payable and accrued expenses | $3,951 |
| 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 | $40 |
| Total liabilities | $3,991 |
| Net assets without donor restrictions | $1,393,330 |
| Net assets with donor restrictions | $56,995 |
| 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 | $1,454,316 |
Grants Recieved
Over the last fiscal year, we have identified 11 grants that Central Vermont Adult Basic Education Inc has recieved totaling $41,050.
| Awarding Organization | Amount |
|---|---|
Harris & Frances Block Foundation Marshfield, VT PURPOSE: ENGLISH LANGUAGELEARNING | $10,000 |
Donley Foundation Radnor, PA PURPOSE: CAREER AND COLLEGE READINESS PROGRAMS IN VERMONTS UPPER VALLEY | $7,500 |
Dollar General Literacy Foundation Goodlettsville, TN PURPOSE: ADULT LITERACY | $6,000 |
Lamson Howell Foundation Inc Randolph, VT PURPOSE: PROGRAM SUPPORT | $5,000 |
Couch Family Foundation Boston, MA PURPOSE: GENERAL SUPPORT | $5,000 |
Alchemist Foundation Inc Waterbury, VT PURPOSE: GENERAL SUPPORT | $2,500 |
Endowment Analysis
| Beg. Balance | $71,543 |
| Earnings | -$9,668 |
| Ending Balance | $61,875 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Bellwether Education Partners Inc Sudbury, MA | $12,819,060 | $18,147,451 |
Workforce Development Institute Inc Albany, NY | $2,796,326 | $10,204,057 |
Vhs Inc Maynard, MA | $2,159,485 | $7,029,751 |
United For Respect Education Fund Brooklyn, NY | $7,552,270 | $7,410,651 |
1st Street Foundation Inc Brooklyn, NY | $4,623,074 | $8,726,760 |
More Than Words Inc Boston, MA | $15,091,779 | $6,459,719 |
Leading Edge Alliance Inc New York, NY | $10,397,327 | $8,264,467 |
Nashua Adult Learning Center Inc Nashua, NH | $5,002,850 | $5,676,963 |
Vermont Adult Learning Inc Waitsfield, VT | $1,289,780 | $4,391,996 |
Read To Lead Inc New York, NY | $3,901,385 | $3,177,958 |
Foundation For Civic Leadership Inc Cambridge, MA | $2,419,879 | $3,718,020 |
Resource Training Center Inc Staten Island, NY | $1,509,183 | $2,732,050 |