Vergennes Partnership Inc
- Assets
- $52.7k
- Revenue
- $279.0k
- Investments
- $0.0
- Employees
- 1
- Location
- Vergennes, VT
- Founding
- 12/1999
- Data as of
- 06/2022
- EIN
- 03-0361837
Organization Overview
Vergennes Partnership Inc is located in Vergennes, VT. The organization was established in 1999. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Vergennes Partnership 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, Vergennes Partnership Inc generated $279.0k in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 35.2% each year . All expenses for the organization totaled $351.3k during the year ending 06/2022. 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
THE VERGENNES PARTNERSHIP'S MISSION IS TO ENHANCE THE ECONOMIC VIABILITY OF VERGENNES AND PRESERVE THE BEAUTY AND CHARACTER OF ITS DOWNTOWN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PARTNERSHIP SPONSORED AND PROMOTED A NUMBER OF COMMUNITY EVENTS IN FURTHERANCE OF ITS MISSION.
THE PARTNERSHIP CONTINUES TO ACT AS THE LEAD PRIVATE FUNDRAISER FOR THE VERGENNES "PAVILION PROJECT" - A MULTI-PHASE PROJECT TO IMPROVE VERGENNES PUBLIC INFRASTRUCTURE, PARKS AND RECREATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Julie Basol Executive Director | Officer | 20 | $26,000 |
Laura Mack Vice President | OfficerTrustee | 2 | $0 |
Elise Shanbacker Secretary | OfficerTrustee | 2 | $0 |
Jen Russell President | OfficerTrustee | 2 | $0 |
Scott Gaines Treasurer | OfficerTrustee | 2 | $0 |
Lynne Chabot Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $30,847 |
| Fundraising events | $3,330 |
| Related organizations | $0 |
| Government grants | $15,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $216,467 |
| Noncash contributions included in lines 1a–1f | $3,040 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $265,644 |
| Total Program Service Revenue | $930 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $373 |
| Net Income from Gaming Activities | $11,635 |
| Net Income from Sales of Inventory | $466 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $279,048 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $305,667 |
| 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. | $26,297 |
| Compensation of current officers, directors, key employees. | $5,259 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $2,012 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $709 |
| Advertising and promotion | $3,570 |
| Office expenses | $1,048 |
| Information technology | $2,748 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $897 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $185 |
| All other expenses | $0 |
| Total functional expenses | $351,252 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $52,739 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $52,739 |
| Accounts payable and accrued expenses | $830 |
| 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 | $830 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $51,909 |
| 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 | $52,739 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Vergennes Partnership Inc has recieved totaling $250.
| Awarding Organization | Amount |
|---|---|
Community Bank N A Foundation Of New England Inc Williston, VT PURPOSE: OPERATIONS | $250 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Sports Fans Coalition Ny Inc Ronkonkoma, NY | $633,460 | $8,459,536 |
Greater Boston Convention And Tourist Bureau Inc Boston, MA | $3,175,283 | $8,778,402 |
Granite State Economic Development Corp Portsmouth, NH | $20,832,618 | $9,324,758 |
Structured Employment Economic Development Corporation New York, NY | $3,440,081 | $6,983,803 |
Nybdc Local Development Corporation Albany, NY | $39,799,179 | $11,401,541 |
Venture For America Inc New York, NY | $3,605,973 | $6,866,605 |
Trufund Financial Services Inc New York, NY | $14,181,328 | $2,317,905 |
Griffiss Local Development Corporation Rome, NY | $28,823,478 | $3,861,279 |
Metrotech Area District Management Association Inc Brooklyn, NY | $3,270,355 | $4,991,826 |
Kiryas Joel Municipal Local Development Corporation Monroe, NY | $2,561,042 | $4,665,324 |
Greater New Bedford Workforce Investment Board Inc New Bedford, MA | $1,194,439 | $3,887,016 |
West Harlem Development Corporation New York, NY | $61,321,755 | $1,156,663 |