Civic Intelligence

Addison County Economic Development Corporation

990 • Fiscal year 2016 • EIN 03-0331665

Jul 01, 2015 to Jun 30, 2016 • Filed on Jan 24, 2017

1590 Route 7 SouthMiddlebury, VT 05753

(802) 388-7953

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

88th percentile

0.61x

Higher debt load relative to assets than 88% of similar nonprofits.

2016 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

99th percentile

3.68x

Higher debt load relative to revenue than 99% of similar nonprofits.

2016 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2016

Net Margin

66th percentile

7.2%

Higher net margin than 66% of similar nonprofits.

2016 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2016

Asset Growth

28th percentile

-2.1%

Faster asset growth than 28% of similar nonprofits.

2016 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

64th percentile

6.8%

Faster revenue growth than 64% of similar nonprofits.

2016 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Assets

Down

$1,469,423

Down $32,064 (-2.1%) from 2015

Net Assets

Up

$575,805

Up $17,428 (+3.1%) from 2015

Liabilities

Down

$893,618

Down $49,492 (-5.2%) from 2015

Revenue

Up

$242,795

Up $15,538 (+6.8%) from 2015

Expenses

Down

$225,367

Down $3,293 (-1.4%) from 2015

Net Income

Up

$17,428

Up $18,831 (+1342%) from 2015

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$2.0M$1.5M$1.0M$500K$0Assets 2012: $1,538,876Liabilities 2012: $1,014,716Net Assets 2012: $524,1602012Assets 2013: $1,470,190Liabilities 2013: $925,739Net Assets 2013: $544,4512013Assets 2014: $1,483,902Liabilities 2014: $924,122Net Assets 2014: $559,7802014Assets 2015: $1,501,487Liabilities 2015: $943,110Net Assets 2015: $558,3772015Assets 2016: $1,469,423Liabilities 2016: $893,618Net Assets 2016: $575,8052016Assets 2017: $1,431,299Liabilities 2017: $851,121Net Assets 2017: $580,1782017Assets 2018: $1,373,726Liabilities 2018: $806,993Net Assets 2018: $566,7332018Assets 2019: $1,247,519Liabilities 2019: $763,788Net Assets 2019: $483,7312019Assets 2020: $1,112,494Liabilities 2020: $723,169Net Assets 2020: $389,3252020Assets 2021: $1,150,154Liabilities 2021: $701,338Net Assets 2021: $448,8162021Assets 2022: $1,197,128Liabilities 2022: $758,435Net Assets 2022: $438,6932022Assets 2023: $1,152,971Liabilities 2023: $805,663Net Assets 2023: $347,3082023Assets 2024: $1,187,721Liabilities 2024: $867,386Net Assets 2024: $320,3352024

Highlighted filing

2016

Assets$1,469,423
Liabilities$893,618
Net Assets$575,805

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$400K$200K$0-$200KExpenses 2012: $274,0492012Revenue 2013: $222,951Expenses 2013: $202,660Net Income 2013: $20,2912013Revenue 2014: $218,645Expenses 2014: $203,316Net Income 2014: $15,3292014Revenue 2015: $227,257Expenses 2015: $228,660Net Income 2015: -$1,4032015Revenue 2016: $242,795Expenses 2016: $225,367Net Income 2016: $17,4282016Revenue 2017: $245,003Expenses 2017: $240,630Net Income 2017: $4,3732017Revenue 2018: $231,337Expenses 2018: $240,539Net Income 2018: -$9,2022018Revenue 2019: $277,988Expenses 2019: $360,990Net Income 2019: -$83,0022019Revenue 2020: $300,224Expenses 2020: $394,631Net Income 2020: -$94,4072020Revenue 2021: $362,506Expenses 2021: $303,015Net Income 2021: $59,4912021Revenue 2022: $329,758Expenses 2022: $339,881Net Income 2022: -$10,1232022Revenue 2023: $234,977Expenses 2023: $326,362Net Income 2023: -$91,3852023Revenue 2024: $315,360Expenses 2024: $342,333Net Income 2024: -$26,9732024

Highlighted filing

2016

Revenue$242,795
Expenses$225,367
Net Income$17,428
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Jan 24, 2017
Return Version
2015v3.0
Gross Receipts
$242,795
Mission and Program Overview

Mission

To promote sound economic development of Addison County area, foster new business, and assist with the expansion of existing businesses within the area.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$272,043$275,770▲ $3,727
Accounts Receivable$7,391$9,334▲ $1,943
Land, Buildings, and Equipment, Net$9,097$6,884▼ $2,213
Pledges and Grants Receivable$2,000$2,000→ $0
Prepaid Expenses and Deferred Charges$1,098$1,627▲ $529
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$1,501,487$1,469,423▼ $32,064
Other Assets Total$1,209,858$1,173,808▼ $36,050
Liabilities
Mortgage Notes Payable Secured by Investment Property$861,296$820,581▼ $40,715
Other Liabilities$74,534$63,534▼ $11,000
Accounts Payable and Accrued Expenses$7,280$9,503▲ $2,223
Total Liabilities$943,110$893,618▼ $49,492
Net Assets / Fund Balance
Unrestricted Net Assets$302,228$297,487▼ $4,741
Temporarily Rstr Net Assets$256,149$278,318▲ $22,169
Total Net Assets Fund Balance$558,377$575,805▲ $17,428
Total Liabilities and Net Assets / Fund Balance$1,501,487$1,469,423▼ $32,064

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$6,884$19,595$26,479
Other Assets Org$482,445--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Robin ScheuExecutive DirectorFT$87,369$13,694$101,063

Board Members and Trustees

NameTitle
Joel MelnickPresident
Chris KnappVice President
Ben Anderson-rayDirector
Harvey SmithDirector
Kathleen RamsayDirector
Marie JewettDirector
Mark BellingerDirector
Mel HawleyDirector
Mike CorbettDirector
Paul RalstonDirector
Sarah MorrisDirector
Therese KirbyDirector
Tom CorbinDirector
Jodi GirardSecretary
Sarah CowanTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$174,533
Program Service Revenue
$55,896
Investment Income
$566
Other Revenue
$11,800
All Other Contributions
$17,025
Change in Net Assets
$17,428
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$164,641
Other Expenses$60,726
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$101,063--$101,063
Other Salaries and Wages$44,332--$44,332
Fees for Services Other$14,340--$14,340
Payroll Taxes$13,760--$13,760
Occupancy$11,739--$11,739
Interest$8,724--$8,724
Conferences and Meetings$4,535--$4,535
Other Employee Benefits$4,351--$4,351
Depreciation Depletion$4,073--$4,073
Office Expenses$3,306--$3,306
Travel$2,715--$2,715
Insurance$2,189--$2,189
Other Expenses$1,460--$1,460
Advertising$1,166--$1,166
Pension Plan Contributions$1,135--$1,135
All Other Expenses$1,015--$1,015
Total Functional Expenses$225,367$0$0$225,367
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Joel MelnickBoard MemberProgram Loan PymtsNo$11,881

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Veda$63,534
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

The 990 is reviewed and approved by the board and the executive director prior to being filed.

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

The board of directors reviews the executive directors salary and benefits package annually.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

UPON REQUEST.

Filing and Contact Details

Filer

Filer Name
Addison County Economic Development
EIN
03-0331665
Phone
8023887953
Address
1590 ROUTE 7 SOUTH, MIDDLEBURY, VT 05753

Signing Officer

Name
Robin Scheu
Title
Executive Director
Signed
2017-01-24
Discuss with paid preparer
Yes

Organization Details

Formed
1991
Legal Domicile
Vt
Voting Board Members
15
Independent Board Members
15
Employees
3

Preparer

Firm
OBrien Shortle Reynolds & Sabotka PC
Address
54 North Main Street, Rutland, VT 05701
Preparer
Gwen Flewelling
Phone
8027738344
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IRS990/InfoInScheduleOPartVIInd0X
IRS990/InformationTechnologyGrp/TotalAmt00
IRS990/InsuranceGrp/ProgramServicesAmt02189
IRS990/InsuranceGrp/TotalAmt02189
IRS990/IntangibleAssetsGrp/EOYAmt00
IRS990/InterestGrp/ProgramServicesAmt08724
IRS990/InterestGrp/TotalAmt08724
IRS990/InventoriesForSaleOrUseGrp/EOYAmt00
IRS990/InvestmentIncomeGrp/ExclusionAmt0566
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0566
IRS990/InvestmentInJointVentureInd0false
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt00
IRS990/InvestmentsProgramRelatedGrp/EOYAmt00
IRS990/InvestmentsPubTradedSecGrp/EOYAmt00
IRS990/InvestTaxExemptBondsInd0false
IRS990/IRPDocumentCnt00
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt019595
IRS990/LandBldgEquipBasisNetGrp/BOYAmt09097
IRS990/LandBldgEquipBasisNetGrp/EOYAmt06884
IRS990/LandBldgEquipCostOrOtherBssAmt026479
IRS990/LegalDomicileStateCd0VT
IRS990/LicensedMoreThanOneStateInd0false
IRS990/LoanOutstandingInd0false
IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembershipDuesAmt041000
IRS990/MembersOrStockholdersInd0true
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0To promote sound economic development of Addison County area, foster new business, and assist with the expansion of existing businesses within the area.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt0861296
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt0820581
IRS990/NetAssetsOrFundBalancesBOYAmt0558377
IRS990/NetAssetsOrFundBalancesEOYAmt0575805
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt00
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NondeductibleContributionsInd0true
IRS990/NondeductibleContriDisclInd0true
IRS990/OccupancyGrp/ProgramServicesAmt011739
IRS990/OccupancyGrp/TotalAmt011739
IRS990/OfficeExpensesGrp/ProgramServicesAmt03306
IRS990/OfficeExpensesGrp/TotalAmt03306
IRS990/OfficerMailingAddressInd0false
IRS990/OnBehalfOfIssuerInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OrgFiledInLieuOfForm1041Ind0false
IRS990/OtherAssetsTotalGrp/BOYAmt01209858
IRS990/OtherAssetsTotalGrp/EOYAmt01173808
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt04351
IRS990/OtherEmployeeBenefitsGrp/TotalAmt04351
IRS990/OtherExpensesGrp/Desc0TELEPHONE
IRS990/OtherExpensesGrp/Desc1Printing and Publications
IRS990/OtherExpensesGrp/Desc2GREEN ENERGY GRANTS
IRS990/OtherExpensesGrp/Desc3DUES AND SUBSCRIPTIONS
IRS990/OtherExpensesGrp/ProgramServicesAmt02161
IRS990/OtherExpensesGrp/ProgramServicesAmt11803
IRS990/OtherExpensesGrp/ProgramServicesAmt21500
IRS990/OtherExpensesGrp/ProgramServicesAmt31460
IRS990/OtherExpensesGrp/TotalAmt02161
IRS990/OtherExpensesGrp/TotalAmt11803
IRS990/OtherExpensesGrp/TotalAmt21500
IRS990/OtherExpensesGrp/TotalAmt31460
IRS990/OtherLiabilitiesGrp/BOYAmt074534
IRS990/OtherLiabilitiesGrp/EOYAmt063534
IRS990/OtherRevenueMiscGrp/BusinessCd0522220
IRS990/OtherRevenueMiscGrp/BusinessCd1522200
IRS990/OtherRevenueMiscGrp/Desc0LOAN LOSS RECOVERY
IRS990/OtherRevenueMiscGrp/Desc1MISCELLANEOUS
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt09291
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt12509
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt09291
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt12509
IRS990/OtherRevenueTotalAmt011800
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt044332
IRS990/OtherSalariesAndWagesGrp/TotalAmt044332
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayrollTaxesGrp/ProgramServicesAmt013760
IRS990/PayrollTaxesGrp/TotalAmt013760
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt01135
IRS990/PensionPlanContributionsGrp/TotalAmt01135
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt02000
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt02000
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt01098
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt01627
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0522200
IRS990/ProgramServiceRevenueGrp/BusinessCd1522200
IRS990/ProgramServiceRevenueGrp/Desc0ADMINISTRATION FEES
IRS990/ProgramServiceRevenueGrp/Desc1INTEREST FROM LOANS
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt03945
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt151951
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt03945
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt151951
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0174847
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt0807
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt081106
IRS990/PYOtherRevenueAmt01701
IRS990/PYProgramServiceRevenueAmt049902
IRS990/PYRevenuesLessExpensesAmt0-1403
IRS990/PYSalariesCompEmpBnftPaidAmt0147554
IRS990/PYTotalExpensesAmt0228660
IRS990/PYTotalRevenueAmt0227257
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt017428
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt055896
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt06884
IRS990ScheduleD/EquipmentGrp/DepreciationAmt019595
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt026479
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt01733
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1520824
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt2168806
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt3482445
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0CBLF FUNDS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1IRP FUNDS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2IRP NOTES RECEIVABLE - CURRENT
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3IRP NOTES RECEIVABLE - LT
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt063534
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO VEDA
IRS990ScheduleD/TotalBookValueLandBuildingsAmt06884
IRS990ScheduleD/TotalBookValueOtherAssetsAmt01173808
IRS990ScheduleD/TotalLiabilityAmt063534
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0JOEL MELNICK
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0BOARD MEMBER
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt011881
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0PROGRAM LOAN PYMTS
IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt0Interested persons above are officers or owners of local businesses that have borrowed money under the loan programs offered through the organization. The transaction amounts listed above represent loan program repayments by the businesses during the year.
IRS990ScheduleL/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule L, Part V Supplemental Information
IRS990/ScheduleORequiredInd0true

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.19$0.87$0.32$0.32$0.34$0.03
2023Detailed filing. Detailed filing data is available for this year.$1.15$0.81$0.35$0.23$0.33$0.09
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.20$0.76$0.44$0.33$0.34$0.01
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.15$0.70$0.45$0.36$0.30$0.06
2020Detailed filing. Detailed filing data is available for this year.$1.11$0.72$0.39$0.30$0.39$0.09
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.25$0.76$0.48$0.28$0.36$0.08
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.37$0.81$0.57$0.23$0.24$0.01
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.43$0.85$0.58$0.25$0.24$0.00
2016Detailed filing. Detailed filing data is available for this year.$1.47$0.89$0.58$0.24$0.23$0.02
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.50$0.94$0.56$0.23$0.23$0.00
2014Detailed filing. Detailed filing data is available for this year.$1.48$0.92$0.56$0.22$0.20$0.02
2013Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$1.47$0.93$0.54$0.22$0.20$0.02
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.54$1.01$0.52$0.27