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 09/2022, Lake Champlain Islands Economic Development Corporation generated $141.9k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.2% each year. All expenses for the organization totaled $153.5k during the year ending 09/2022. While expenses have increased by 4.5% 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
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2022
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.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Cheryl Potvin Executive Director (jan - Jul) | 40 | $31,148 | |
Andy Julow Executive Director (july - Dec) | 40 | $27,692 | |
Karen Mccloud President/secretary | 2 | $0 | |
Larry Dubin Treasurer | 1 | $0 | |
Dan Farnham Director | 1 | $0 | |
Melissa Morrissette Director | 1 | $0 |
Statement of Revenue | |
---|---|
Total Revenue from Contributions, Gifts, Grants & Similar | $112,508 |
Total Program Service Revenue | $8,860 |
Membership dues | $6,525 |
Investment income | $14 |
Gain or Loss | $0 |
Net Income from Gaming & Fundraising | $0 |
Other Revenue | $14,014 |
Total Revenue | $141,921 |
Statement of Expenses | |
---|---|
Grants and similar amounts paid | $0 |
Benefits paid to or for members | $0 |
Salaries, other compensation, and employee benefits | $65,100 |
Professional fees and other payments to independent contractors | $3,289 |
Occupancy, rent, utilities, and maintenance | $15,509 |
Printing, publications, postage, and shipping | $12,252 |
Other expenses | $27,256 |
Total expenses | $153,510 |
Balance Sheet | |
---|---|
Cash, savings, and investments | $48,722 |
Other assets | $0 |
Total assets | $166,766 |
Total liabilities | $73,469 |
Net assets or fund balances | $93,297 |
Organization Name | Assets | Revenue |
---|---|---|
Quadrivium New York, NY | $52,883,139 | $7,776,109 |
Alliance For Downtown New York Inc New York, NY | $19,570,349 | $22,494,008 |
Cities For Financial Empowerment Fund Inc New York, NY | $14,654,854 | $7,980,604 |
Bottom Line Inc Boston, MA | $17,407,844 | $19,309,420 |
Cidny-Independent Living Services Inc Brooklyn, NY | $9,867,599 | $12,474,702 |
Neighborhood Stabilization Corporation Boston, MA | $29,880,510 | $6,854,139 |
Hunt Community Nashua, NH | $57,177,918 | $15,936,193 |
Buffalo Urban Development Corporation Buffalo, NY | $100,186,156 | $9,769,050 |
The Fund For Parks And Recreation In Boston Boston, MA | $15,922,090 | $6,711,889 |
128 West Transportation Council Inc Waltham, MA | $2,138,696 | $3,791,714 |
Mass Mentoring Partnership Inc Boston, MA | $3,908,855 | $3,737,455 |
Excavators 731 Property Corp Astoria, NY | $23,888,581 | $2,129,993 |