Public Assets Institute Inc
- Assets
- $528.2k
- Revenue
- $739.2k
- Investments
- $0.0
- Employees
- 5
- Location
- Montpelier, VT
- Founding
- 05/2006
- Data as of
- 06/2022
- EIN
- 16-1703662
Organization Overview
Public Assets Institute Inc is located in Montpelier, VT. The organization was established in 2006. According to its NTEE Classification (W20) the organization is classified as: Government & Public Administration, under the broad grouping of Public & Societal Benefit and related organizations. As of 06/2022, Public Assets Institute Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Public Assets Institute 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, Public Assets Institute Inc generated $739.2k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 14.8% each year . All expenses for the organization totaled $582.3k during the year ending 06/2022. While expenses have increased by 8.3% 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
PUBLIC ASSETS INSTITUTE IMPROVES THE WELLBEING OF ALL VERMONTERS AND ADVANCES RACIAL, SOCIAL, AND ECONOMIC JUSTICE THROUGH RESEARCH, FISCAL ANALYSIS, PUBLIC ENGAGEMENT AND EMPOWERMENT, AND BY DEVELOPING AND PROMOTING POLICIES THAT STATE GOVERNMENT CAN ENACT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONDUCT, PRODUCE, AND DISSEMINATE CREDIBLE, TIMELY, RELIABLE, AND ACCESSIBLE RESEARCH AND ANALYSIS ABOUT STATE-LEVEL BUDGET PRIORITIES, POLICIES, AND TAX AND REVENUE ISSUES, PARTICULARLY THOSE AFFECTING HUMAN SERVICES AND THE WELL-BEING OF LOW INCOME CHILDREN AND FAMILIES. COMMUNICATE RESEARCH AND ANALYSIS EFFECTIVELY TO STATE POLICY MAKERS AND THE NEWS MEDIA, DEMONSTRATING A QUICK RESPONSE CAPABILITY ON TAX AND BUDGET ISSUES. REACH OUT TO OTHER ORGANIZATIONS AND INDIVIDUALS WHO CAN CONTRIBUTE TO, AND USE FISCAL INFORMATION AND ANALYSES, WORKING CLOSELY WITH THEM TO ENSURE THAT PUBLIC ASSETS WORK IS RESPONSIVE TO THEIR NEEDS AND INTERESTS. EDUCATE INTEREST GROUPS ABOUT POLICIES THAT BENEFIT LOW-INCOME CHILDREN AND FAMILIES AND THE PUBLIC GOOD. WIDELY DISSEMINATE REPORTS, ANALYSIS, EASILY UNDERSTOOD FACT SHEETS, AND THE ISSUE BRIEFS TO APPROPRIATE AUDIENCES. CONDUCT WORKSHOPS AND BRIEFINGS ON SIGNIFICANT BUDGET AND TAX ISSUES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Cillo President | OfficerTrustee | 40 | $97,414 |
Sheila Reed Board Member | Trustee | 2 | $0 |
Scudder Parker Board Member | Trustee | 2 | $0 |
Ben Doyle Board Member | Trustee | 2 | $0 |
Carlen Finn Board Member | Trustee | 2 | $0 |
Cd Mattison Board Member | Trustee | 2 | $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 | $727,521 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $727,521 |
| Total Program Service Revenue | $10,500 |
| Investment income | $1,158 |
| 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 | $739,196 |
| 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. | $99,349 |
| Compensation of current officers, directors, key employees. | $28,811 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $286,719 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $29,468 |
| Payroll taxes | $0 |
| 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 | $119,965 |
| Advertising and promotion | $0 |
| Office expenses | $483 |
| Information technology | $10,495 |
| Royalties | $0 |
| Occupancy | $18,206 |
| Travel | $2,029 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $719 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,482 |
| All other expenses | $7,898 |
| Total functional expenses | $582,331 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,985 |
| Savings and temporary cash investments | $447,668 |
| Pledges and grants receivable | $72,000 |
| 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 | $1,508 |
| Total assets | $528,161 |
| Accounts payable and accrued expenses | $16,485 |
| 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 | $26,219 |
| Total liabilities | $42,704 |
| Net assets without donor restrictions | $413,457 |
| Net assets with donor restrictions | $72,000 |
| 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 | $528,161 |