Lake Champlain Lifelong Learning Fund Inc
- Assets
- $1.1m
- Revenue
- $987.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Burlington, VT
- Founding
- 10/2000
- Data as of
- 09/2021
- EIN
- 03-0366744
Organization Overview
Lake Champlain Lifelong Learning Fund Inc is located in Burlington, VT. The organization was established in 2000. According to its NTEE Classification (S40) the organization is classified as: Business & Industry, 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. Lake Champlain Lifelong Learning Fund 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 09/2021, Lake Champlain Lifelong Learning Fund Inc generated $987.1k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 45.4% each year . All expenses for the organization totaled $266.2k during the year ending 09/2021. While expenses have increased by 19.1% per year over the past 6 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 2015, Lake Champlain Lifelong Learning Fund Inc has awarded 12 individual grants totaling $220,000. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE PURPOSE OF THIS NON-PROFIT ORGANIZATION IS TO DEVELOP AND IMPLEMENT WORKFORCE DEVELOPMENT STRATEGIES THAT SUPPORT BUSINESS AND INDUSTRY PRIMARILY IN OUR REGION OF VERMONT (CHITTENDEN COUNTY) AND STATEWIDE. THESE STRATEGIES INCLUDE: THE LAUNCHVT AND TIPS INTIATIVES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LAUNCHVT WORKS WITH ITS COMMUNITY PARTNERS TO PROVIDE BUSINESS ACCELERATION PROGRAMS AND RESOURCES THAT EMPOWER VERMONTERS TO SOLVE PROBLEMS AND CREATE ECONOMIC OPPORTUNITY IN THEIR COMMUNITIES. LAUNCHVT ACCELERATES THE DEVELOPMENT OF THE 8 BEST EMERGING STARTUPS IN VERMONT BY CONNECTING THEM WITH EACH OTHER, ADVISORS, SEARCH PROVIDERS, INVESTORS, AND DIRECT BUSINESS DEVELOPMENT SUPPORT. LAUNCHVT REACT SUPPORTS REGIONAL INNOVATION SPACES ACROSS VERMONT TO BUILD SUCCESSFUL COHORT-BASED BUSINESS DEVELOPMENT PROGRAMS FOR LOCAL ENTREPENEURS. LAUNCHVT NEXUS CONNECTS LAUNCHVT ALUMNI AND FOUNDERS OF MID-STAGE AND EMERGING GROWTH-STAGE BUSINESSES FROM ACROSS VERMONT THROUGH A REMOTE COMMUNICATION PLATFORM AND IN-PERSON MEETINGS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patrick O'neil Secretary | OfficerTrustee | 1 | $0 |
Thomas Torti CEO | OfficerTrustee | 30 | $0 |
Greg Maguire Director | Trustee | 1 | $0 |
Ashley Wainer Director | Trustee | 1 | $0 |
Cathy Davis Director | Trustee | 1 | $0 |
Lisa Kingsbury Director | Trustee | 1 | $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 | $921,300 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $921,300 |
| Total Program Service Revenue | $65,753 |
| 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 | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $987,053 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $29,000 |
| 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 | $159,919 |
| Pension plan accruals and contributions | $6,396 |
| Other employee benefits | $12,902 |
| Payroll taxes | $12,033 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,079 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $30,000 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,620 |
| Office expenses | $3,149 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $2,598 |
| Travel | $175 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $266,206 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $789,999 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $201,717 |
| Accounts receivable, net | $1,500 |
| 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 | $2,919 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $110,000 |
| Total assets | $1,106,135 |
| Accounts payable and accrued expenses | $4,450 |
| 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 | $220,076 |
| Total liabilities | $224,526 |
| Net assets without donor restrictions | -$98,691 |
| Net assets with donor restrictions | $980,300 |
| 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 | $1,106,135 |
Grants Awarded
Over the last fiscal year, Lake Champlain Lifelong Learning Fund Inc has awarded $20,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
THE ZION CORPORATION PURPOSE: LAUNCHVT BUSINESS COMPETITION WINNER | $15,000 |
LOST LANTERN SPIRITS LLC PURPOSE: LAUNCHVT BUSINESS COMPETITION WINNER | $5,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Lake Champlain Lifelong Learning Fund Inc has recieved totaling $20,000.
| Awarding Organization | Amount |
|---|---|
American Endowment Foundation Hudson, OH PURPOSE: GENERAL OPERATING SUPPORT | $10,000 |
Vermont Community Foundation Middlebury, VT PURPOSE: GENERAL PURPOSE | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Conference Board Inc New York, NY | $64,541,991 | $72,603,284 |
Securities Industry And Financial Markets Association Inc New York, NY | $42,827,387 | $47,657,181 |
34th Street Partnership Inc New York, NY | $17,652,180 | $14,359,330 |
Grand Central Partnership Inc New York, NY | $10,906,247 | $13,880,529 |
Greenpoint Manufacturing And Design Center Local Development Corp Gmdc Brooklyn, NY | $54,916,417 | $14,539,539 |
Ascendus Inc New York, NY | $45,777,812 | $14,588,685 |
Broad Hollow Bioscience Park Inc Farmingdale, NY | $30,625,721 | $3,689,454 |
Better Business Bureau Of Metropolitan New York Inc New York, NY | $2,973,168 | $5,685,810 |
New York Society Of Security Analysts Inc New York, NY | $12,287,632 | $4,837,133 |
Commonwell Health Alliance Inc Boston, MA | $1,975,770 | $5,889,825 |
Better Business Bureau Inc Amherst, NY | $5,688,613 | $4,388,157 |
Interise Inc Boston, MA | $1,805,112 | $4,942,070 |