Fund For North Bennington Inc
- Assets
- $2.6m
- Revenue
- $402.7k
- Investments
- $145.4k
- Employees
- 0
- Location
- North Bennington, VT
- Founding
- 12/1992
- Data as of
- 04/2022
- EIN
- 03-0335309
Organization Overview
Fund For North Bennington Inc is located in North Bennington, VT. The organization was established in 1992. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fund For North Bennington 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 04/2022, Fund For North Bennington Inc generated $402.7k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 28.3% each year . All expenses for the organization totaled $251.7k during the year ending 04/2022. While expenses have increased by 21.2% 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.
Since 2017, Fund For North Bennington Inc has awarded 12 individual grants totaling $189,255. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION PROMOTES ACTIVITIES, CONSERVATION, AGRICULTURAL LAND USE, EDUCATION, AND COMMUNITY PARTICIPATION TO HELP THE COMMUNITY OF NORTH BENNINGTON, VERMONT MAINTAIN ITS INDEPENDENCE AND SMALL SCALE CHARACTER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONSERVATION - THIS PROGRAM INCLUDES THE OWNERSHIP OF 423 ACRES OF WOODS AND FARMLAND IN NORTH BENNINGTON, VERMONT AND ITS ENVIRONS, WIDELY USED BY COMMUNITY MEMBERS FOR WALKING, RUNNING, BIRDWATCHING, AND CROSS-COUNTRY SKIING. THE FUND HAS SET ASIDE MONIES FOR CONSERVATION OF IMPORTANT LANDS IN THE VILLAGE OF NORTH BENNINGTON, AND HOLDS CONSERVATION EASEMENTS ON SEVERAL PROPERTIES.
THE LEFT BANK - THE PROPERTY WAS ACQUIRED AND RENOVATED AS A MEANS OF ENHANCING THE VITALITY OF THE VILLAGE'S MAIN STREET. BUSINESSES AND COMMUNITY GROUPS RENT THE BUILDING'S OFFICES. THERE IS A LARGE ROOM DEDICATED TO PUBLIC MEETINGS AND EXHIBITS, AND THE BUILDING HOUSES AN ARCHIVE OF PHOTOGRAPHS AND HISTORICAL MATERIALS RELATED TO THE VILLAGE OF NORTH BENNINGTON.
COMMUNITY INITIATIVES - THE FUND CONTINUES TO SUPPORT COMMUNITY INITIATIVES IN AND AROUND THE VILLAGE OF NORTH BENNINGTON IN THE AREAS OF EDUCATION, THE ARTS, PUBLIC RECREATION, CONSERVATION, HISTORIC PRESERVATION, AND SOCIAL WELFARE.
ARCHIVES - THE FUND MAINTAINS A COLLECTION OF HISTORIC AND CONTEMPORARY PHOTOGRAPHS OF THE VILLAGE OF NORTH BENNINGTON AND MAKES DIGITAL IMAGES OF THE PHOTOGRAPHS AVAILABLE FOR VIEWING ON ITS WEBSITE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert E Woolmington President | OfficerTrustee | 5 | $0 |
Joseph G Mcgovern Treasurer | OfficerTrustee | 5 | $0 |
Christine P Graham Secretary | OfficerTrustee | 10 | $0 |
Robert Howe Trustee | Trustee | 5 | $0 |
Susan Sgorbati Trustee | Trustee | 1 | $0 |
Elizabeth Manning Trustee | Trustee | 8 | $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 | $272,973 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $272,973 |
| Total Program Service Revenue | $45,465 |
| Investment income | $27,461 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $56,726 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $402,669 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $105,837 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $3,900 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,295 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $20,810 |
| Advertising and promotion | $0 |
| Office expenses | $2,926 |
| Information technology | $1,673 |
| Royalties | $0 |
| Occupancy | $83,084 |
| Travel | $0 |
| 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 | $29,946 |
| Insurance | $0 |
| All other expenses | $250 |
| Total functional expenses | $251,721 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $31,197 |
| Savings and temporary cash investments | $62,088 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,117,192 |
| Investments—publicly traded securities | $1,202,940 |
| Investments—other securities | $145,400 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $11,302 |
| Total assets | $2,570,119 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $2,570,119 |
| Total liabilities and net assets/fund balances | $2,570,119 |
Grants Awarded
Over the last fiscal year, Fund For North Bennington Inc has awarded $94,007 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Middlebury, VT PURPOSE: Conservation | $78,007 |
North Bennington, VT PURPOSE: Staffing/COVID | $10,000 |
N Bennington, VT PURPOSE: Art/Conservation | $6,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Fund For North Bennington Inc has recieved totaling $27,878.
| Awarding Organization | Amount |
|---|---|
Vermont Community Foundation Middlebury, VT PURPOSE: GENERAL PURPOSE | $24,878 |
South Meadow Foundation Bennington, VT PURPOSE: GENERAL FUND | $3,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Alfred P Sloan Foundation New York, NY | $2,105,880,634 | $192,527,982 |
Massachusetts Higher Education Assistance Corporation Boston, MA | $1,090,709,677 | $124,087,298 |
Mastercard Impact Fund Purchase, NY | $207,268,769 | $96,050,288 |
N H Higher Education Loan Corporation Concord, NH | $928,313,847 | $60,034,018 |
Arcus Foundation New York, NY | $264,733,626 | $35,703,685 |
Edward P Evans Andover, MA | $242,161,195 | $13,916,833 |
The Childrens Scholarship Fund New York, NY | $36,136,002 | $24,710,520 |
Math For America Inc New York, NY | $15,709,494 | $20,036,646 |
Ja Worldwide Inc Boston, MA | $14,229,210 | $21,801,943 |
The Posse Foundation Inc New York, NY | $120,660,725 | $44,739,225 |
Inner-City Scholarship Fund Inc New York, NY | $115,829,957 | $24,751,034 |
Joan And Irwin Jacobs Technion-Cornell Innovation Instit New York, NY | $205,040,861 | $18,316,542 |