Lake Champlain Islands Economic Development Corporation
- Assets
- $145.9k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- North Hero, VT
- Founding
- 07/2014
- Data as of
- 09/2023
- EIN
- 32-0390821
Organization Overview
Lake Champlain Islands Economic Development Corporation is located in North Hero, VT. The organization was established in 2014. According to its NTEE Classification (S99) the organization is classified as: Community Improvement & Capacity Building N.E.C., 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 Islands Economic Development Corporation is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 09/2023, Lake Champlain Islands Economic Development Corporation generated $144.2k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.1% each year. All expenses for the organization totaled $158.4k during the year ending 09/2023. While expenses have increased by 4.4% per year over the past 8 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
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3
ECONOMIC DEVELOPMENT SERVICES THROUGH SMALL BUSINESS COUNSELING, OFFERING FREE WORKSHOPS AND FREE TRAINING FOR THE LOCAL WORKFORCE, AND PROVIDING STATE AND FEDERAL RESOURCES TO LOCAL BUSINESSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andrew Julow Executive Director | 40 | $48,048 | |
Dan Farnham Director | 1 | $0 | |
Melissa Morissette Director | 1 | $0 | |
Jason Hanny Director | 1 | $0 | |
Ember Boyle Director | 1 | $0 | |
Nate Hayward Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $111,809 |
| Total Program Service Revenue | $3,845 |
| Membership dues | $13,025 |
| Investment income | $34 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $15,510 |
| Total Revenue | $144,223 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $84,097 |
| Professional fees and other payments to independent contractors | $2,653 |
| Occupancy, rent, utilities, and maintenance | $15,684 |
| Printing, publications, postage, and shipping | $12,299 |
| Other expenses | $43,677 |
| Total expenses | $158,410 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $32,124 |
| Other assets | $0 |
| Total assets | $145,939 |
| Total liabilities | $66,829 |
| Net assets or fund balances | $79,110 |