Green Mountain Economic Development Corp is located in White River Junction, VT. The organization was established in 1983. According to its NTEE Classification (S01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, Green Mountain Economic Development Corp employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Green Mountain Economic Development Corp is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 06/2022, Green Mountain Economic Development Corp generated $1.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 21.4% each year . All expenses for the organization totaled $1.1m during the year ending 06/2022. While expenses have increased by 21.1% 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 FOSTER AND DEVELOP ECONOMIC VITALITY AND PROSPERITY CONSISTENT WITH THE GOALS OF THE COMMUNITIES WE SERVE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO CREATE NEW JOBS AND INCREASE ECONOMIC STABILITY WITHIN THE REGION.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Erika Hoffman-Kiess Executive Dir. | Trustee | 40 | $77,885 |
Damian Dinicola Chairman | OfficerTrustee | 1 | $0 |
Edwin S Childs Secretary | OfficerTrustee | 1 | $0 |
Russell North Treasurer | OfficerTrustee | 1 | $0 |
Joseph A Boyd Trustee | Trustee | 1 | $0 |
Ken Cadow Trustee | Trustee | 1 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $27,042 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $777,631 |
All other contributions, gifts, grants, and similar amounts not included above | $0 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $804,673 |
Total Program Service Revenue | $314,505 |
Investment income | $53 |
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 | $1,150,206 |
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. | $77,885 |
Compensation of current officers, directors, key employees. | $7,789 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $88,712 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $29,563 |
Payroll taxes | $17,975 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $16,548 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $0 |
Advertising and promotion | $0 |
Office expenses | $3,674 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $19,641 |
Travel | $4,266 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $1,134 |
Interest | $186,921 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $0 |
Insurance | $7,302 |
All other expenses | $17,783 |
Total functional expenses | $1,147,484 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $94,362 |
Savings and temporary cash investments | $21,468 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $15,105 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $4,538,245 |
Notes and loans receivable | $0 |
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 | $41,586 |
Total assets | $4,710,766 |
Accounts payable and accrued expenses | $1,000 |
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 | $4,538,245 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $24,210 |
Total liabilities | $4,563,455 |
Net assets without donor restrictions | $88,383 |
Net assets with donor restrictions | $58,928 |
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 | $4,710,766 |
Over the last fiscal year, we have identified 1 grants that Green Mountain Economic Development Corp has recieved totaling $31,500.
Awarding Organization | Amount |
---|---|
Brattleboro Development Credit Corporation Brattleboro, VT PURPOSE: GRANT ASSISTANCE | $31,500 |
Organization Name | Assets | Revenue |
---|---|---|
Real Estate Board Of New York Inc New York, NY | $13,608,943 | $14,285,773 |
United States Council For International Business New York, NY | $8,377,861 | $9,810,410 |
Long Island Board Of Realtors Inc West Babylon, NY | $32,824,680 | $7,922,994 |
German American Chamber Of Commerce Inc New York, NY | $3,820,432 | $6,890,973 |
Buffalo Niagara Convention & Vistors Bureau Inc Buffalo, NY | $3,394,435 | $6,164,269 |
Lake Placid Chamber Of Commerce Inc Lake Placid, NY | $4,857,333 | $6,938,582 |
Economic Development Council Of Western Massachusetts Inc Springfield, MA | $1,229,213 | $5,047,431 |
Independent Drivers Guild Inc Long Island City, NY | $5,104,857 | $7,835,962 |
World Trade Centers Association Inc New York, NY | $23,293,174 | $7,185,978 |
Building Contractors Association Inc New York, NY | $2,719,541 | $4,963,157 |
Discover Long Island Inc Hauppauge, NY | $4,450,484 | $4,266,215 |
New England Regional Council Of Carpenters Building Corp Ny Boston, MA | $10,806,060 | $499,675 |