Addison County Economic Development Corporation

Organization Overview

Addison County Economic Development Corporation is located in Middlebury, VT. The organization was established in 1994. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, Addison County Economic Development Corporation employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Addison County Economic Development Corporation 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, Addison County Economic Development Corporation generated $329.8k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.5% each year. All expenses for the organization totaled $339.9k during the year ending 06/2022. While expenses have increased by 6.0% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

TO CREATE AN ENTREPRENEURIAL AND INNOVATIVE ENVIRONMENT, NURTURING BUSINESSES TO LAUNCH, GROW, AND THRIVE.

Describe the Organization's Program Activity:

Part 3 - Line 4a

COMMUNITY SERVICES: ACEDC PROVIDES DIRECT SERVICES TO BUSINESSES INCLUDING ADVICE, ASSISTANCE, REFERRALS, SITE SELECTION AND PROJECT MANAGEMENT, AND BUSINESS EXPANSION SERVICES, SERVICES TO THE GENERAL BUSINESS COMMUNITY SUCH AS BUSINESS WORKSHOPS AND TRAINING, NETWORKING, AND ADVOCATING ON BEHALF OF BUSINESSES REGIONALLY, AND ON THE STATE AND FEDERAL LEVELS. ACEDC ALSO PROVIDES SERVICES TO MUNICIPALITIES, NON-PROFITS, AND COMMUNITY GROUPS TO ADVANCE ECONOMIC AND COMMUNITY DEVELOPMENT IN THE REGION, INCLUDING GRANT WRITING, FISCAL AGENCY, AND GRANT ADMINISTRATION.


LENDING SERVICES: LENDING SERVICES INCLUDE PROJECT FINANCE PLANNING AND DIRECT LENDING TO BUSINESSES THROUGH AN ACEDC REVOLVING LOAN FUND AND A USDA-FINANCED INTERMEDIARY RELENDING PROGRAM.


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Board, Officers & Key Employees

Name (title)Compensation
Frederick Kenney II
Executive Di
$99,254
Susan Mcclure
President
$0
Jason Larocque
Secretary
$0
Chris Wilson
Vice Preside
$0
Matthew Curran
Treasurer
$0
Joseph Andriano
Board Member
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$45,400
Fundraising events$0
Related organizations$0
Government grants $242,836
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$288,236
Total Program Service Revenue$38,461
Investment income $343
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 $329,758

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Addison County Economic Development Corporation has recieved totaling $16,500.

Awarding OrganizationAmount
Brattleboro Development Credit Corporation

Brattleboro, VT

PURPOSE: GRANT ASSISTANCE

$16,500
View Grant Recipient Profile

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