Advance Transit Inc
- Assets
- $17.1m
- Revenue
- $7.9m
- Investments
- $0.0
- Employees
- 43
- Location
- Wilder, VT
- Founding
- 02/1985
- Data as of
- 06/2022
- EIN
- 22-2558708
Organization Overview
Advance Transit Inc is located in Wilder, VT. The organization was established in 1985. According to its NTEE Classification (W40) the organization is classified as: Public Transportation Systems, under the broad grouping of Public & Societal Benefit and related organizations. As of 06/2022, Advance Transit Inc employed 43 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Advance Transit 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, Advance Transit Inc generated $7.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.7% each year. All expenses for the organization totaled $6.1m during the year ending 06/2022. While expenses have increased by 3.4% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ASSURE THE CONTINUED LIVABILITY AND ACCESSIBILITY OF UPPER VALLEY COMMUNITIES BY PROVIDING SAFE, EFFECTIVE AND FRIENDLY PUBLIC TRANSPORTATION SERVICES.
Describe the Organization's Program Activity:
PUBLIC TRANSPORTATION SERVICES FOR SEVERAL TOWNS IN THE UPPER VALLEY REGION OF NEW HAMPSHIRE AND VERMONT. PROVIDES TRANSPORTATION TO THE GENERAL PUBLIC, YOUTH, ELDERLY AND HANDICAPPED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Van Chesnut Executive Director | Officer | 40 | $131,326 |
Matt Osborn President | OfficerTrustee | 5 | $0 |
Nathan Miller Vice President | OfficerTrustee | 5 | $0 |
Reecca Owens Secretary | OfficerTrustee | 2.5 | $0 |
Robert Starkey Treasurer | OfficerTrustee | 5 | $0 |
Robert Houseman Board Member | Trustee | 2.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $4,825,519 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,010,864 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,836,383 |
| Total Program Service Revenue | $0 |
| Investment income | $2,832 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $13,550 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,862,543 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,749,052 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $643,031 |
| Payroll taxes | $210,058 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $44,038 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $133,310 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $132,878 |
| Travel | $1,982 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $8,873 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,142,440 |
| Insurance | $287,794 |
| All other expenses | $24,815 |
| Total functional expenses | $6,079,965 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,082,731 |
| Savings and temporary cash investments | $2,882,648 |
| Pledges and grants receivable | $1,691,364 |
| Accounts receivable, net | $802,599 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $183,307 |
| Prepaid expenses and deferred charges | $69,700 |
| Net Land, buildings, and equipment | $10,341,035 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $27,715 |
| Total assets | $17,081,099 |
| Accounts payable and accrued expenses | $254,663 |
| 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 | $254,663 |
| Net assets without donor restrictions | $4,839,473 |
| Net assets with donor restrictions | $11,986,963 |
| 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 | $17,081,099 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Advance Transit Inc has recieved totaling $19,600.
| Awarding Organization | Amount |
|---|---|
New Hampshire Charitable Foundation Concord, NH PURPOSE: For general support | $8,500 |
Vermont Community Foundation Middlebury, VT PURPOSE: GENERAL PURPOSE | $5,500 |
Stannard & Dorothy Dunn Charitable Trust Lyme, NH PURPOSE: GENERAL SUPPORT | $5,000 |
Crowell Family Foundation Tr Boston, MA PURPOSE: GENERAL SUPPORT | $500 |
Middlecott Foundation Boston, MA PURPOSE: GENERAL SUPPORT | $100 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Tompkins Consolidated Area Transit Inc Ithaca, NY | $39,345,124 | $21,152,302 |
Vermont Public Transportation Association Inc Bennington, VT | $1,209,700 | $10,904,135 |
Institute For Transportation And Development Policy New York, NY | $4,433,460 | $8,870,568 |
Cooperative Alliance For Seacoast Transportation Dover, NH | $7,006,129 | $8,852,816 |
Advance Transit Inc Wilder, VT | $17,081,099 | $7,862,543 |
Southeast Vermont Transit Inc Wilmington, VT | $13,192,153 | $6,694,813 |
Transitcenter Inc New York, NY | $83,620,564 | $6,464,249 |
Neponset Valley Tma Woburn, MA | $386,955 | $3,016,668 |
Evkids Inc Dorchester, MA | $1,111,937 | $1,049,199 |
Fall River Line Pier Inc Fall River, MA | $1,435,268 | $611,215 |
Green Mountain Carshare Burlington, VT | $630,324 | $813,855 |
Riders Alliance Inc New York, NY | $1,388,863 | $1,808,991 |