Civic Intelligence

Springfield Regional Development Corp

EIN 03-0333399 • 501(c)6 • Springfield, VT

Profile

Regional Development Center

14 Clinton Square Suite 7Springfield, VT 05156

www.springfielddevelopment.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

94th percentile

0.75x

Higher debt load relative to assets than 94% of similar nonprofits.

501(c)6 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

99th percentile

5.44x

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

501(c)6 • $1M-$5M nonprofits • Source year 2024

Net Margin

72nd percentile

13%

Higher net margin than 72% of similar nonprofits.

501(c)6 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

46th percentile

4.5%

Faster asset growth than 46% of similar nonprofits.

501(c)6 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

72nd percentile

16%

Faster revenue growth than 72% of similar nonprofits.

501(c)6 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets94th percentile

Assets

Up

$3,702,964

Up $159,587 (+4.5%) from 2023

Liabilities

Up

$2,777,770

Up $95,013 (+3.5%) from 2023

Net Assets

Up

$925,194

Up $64,574 (+7.5%) from 2023

Operations
Liabilities / Revenue99th percentileNet Margin72nd percentile

Revenue

Up

$510,661

Up $68,784 (+16%) from 2023

Expenses

Up

$446,087

Up $60,909 (+16%) from 2023

Net Income

Up

$64,574

Up $7,875 (+14%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth46th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$6.0M$4.0M$2.0M$0Assets 2011: $1,556,481Liabilities 2011: $1,057,987Net Assets 2011: $498,4942011Assets 2012: $2,561,628Liabilities 2012: $2,083,709Net Assets 2012: $477,9192012Assets 2013: $2,530,226Liabilities 2013: $2,066,114Net Assets 2013: $464,1122013Assets 2014: $2,379,080Liabilities 2014: $2,024,821Net Assets 2014: $354,2592014Assets 2015: $2,215,586Liabilities 2015: $1,998,071Net Assets 2015: $217,5152015Assets 2016: $2,790,988Liabilities 2016: $2,639,176Net Assets 2016: $151,8122016Assets 2017: $3,238,403Liabilities 2017: $3,126,715Net Assets 2017: $111,6882017Assets 2018: $3,294,272Liabilities 2018: $3,258,288Net Assets 2018: $35,9842018Assets 2020: $3,854,506Liabilities 2020: $3,284,349Net Assets 2020: $570,1572020Assets 2021: $4,069,277Liabilities 2021: $3,494,871Net Assets 2021: $574,4062021Assets 2022: $3,571,752Liabilities 2022: $2,723,087Net Assets 2022: $848,6652022Assets 2023: $3,543,377Liabilities 2023: $2,682,757Net Assets 2023: $860,6202023Assets 2024: $3,702,964Liabilities 2024: $2,777,770Net Assets 2024: $925,1942024

Highlighted filing

2024

Assets$3,702,964
Liabilities$2,777,770
Net Assets$925,194
Open 2024 Filing

Operations Trend

Revenue Growth72nd percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.5M$1.0M$500K$0-$500KExpenses 2011: $224,8952011Expenses 2012: $445,7302012Revenue 2013: $296,895Expenses 2013: $310,702Net Income 2013: -$13,8072013Revenue 2014: $366,682Expenses 2014: $476,536Net Income 2014: -$109,8542014Revenue 2015: $330,595Expenses 2015: $467,338Net Income 2015: -$136,7432015Revenue 2016: $557,549Expenses 2016: $624,254Net Income 2016: -$66,7052016Revenue 2017: $379,609Expenses 2017: $433,454Net Income 2017: -$53,8452017Revenue 2018: $344,989Expenses 2018: $420,693Net Income 2018: -$75,7042018Revenue 2020: $422,293Expenses 2020: $503,419Net Income 2020: -$81,1262020Revenue 2021: $449,301Expenses 2021: $445,053Net Income 2021: $4,2482021Revenue 2022: $1,257,207Expenses 2022: $957,948Net Income 2022: $299,2592022Revenue 2023: $441,877Expenses 2023: $385,178Net Income 2023: $56,6992023Revenue 2024: $510,661Expenses 2024: $446,087Net Income 2024: $64,5742024

Highlighted filing

2024

Revenue$510,661
Expenses$446,087
Net Income$64,574
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,702,964
Liabilities
$2,777,770
Net assets
$925,194
Revenue
$510,661
Expenses
$446,087
Net income
$64,574
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.70$2.78$0.93$0.51$0.45$0.06
2023Detailed filing. Detailed filing data is available for this year.$3.54$2.68$0.86$0.44$0.39$0.06
2022Detailed filing. Detailed filing data is available for this year.$3.57$2.72$0.85$1.26$0.96$0.30
2021Detailed filing. Detailed filing data is available for this year.$4.07$3.49$0.57$0.45$0.45$0.00
2020Detailed filing. Detailed filing data is available for this year.$3.85$3.28$0.57$0.42$0.50$0.08
2018Detailed filing. Detailed filing data is available for this year.$3.29$3.26$0.04$0.34$0.42$0.08
2017Detailed filing. Detailed filing data is available for this year.$3.24$3.13$0.11$0.38$0.43$0.05
2016Detailed filing. Detailed filing data is available for this year.$2.79$2.64$0.15$0.56$0.62$0.07
2015Detailed filing. Detailed filing data is available for this year.$2.22$2.00$0.22$0.33$0.47$0.14
2014Detailed filing. Detailed filing data is available for this year.$2.38$2.02$0.35$0.37$0.48$0.11
2013Summary only. Only limited summary data is available for this year.$2.53$2.07$0.46$0.30$0.31$0.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.56$2.08$0.48$0.45
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.56$1.06$0.50$0.22
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Dec 2, 2024
Return Version
2023v5.1
Gross Receipts
$1,218,112
Mission and Program Overview

Mission

Regional Development Center

Regional Development Center To coordinate public and private efforts to bring new jobs and industry to the region; to rehabilitate former manufacturing facilities and put

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,788,014$1,912,031▲ $124,017
Cash and Non-Interest-Bearing Accounts$782,505$569,252▼ $213,253
Other Notes and Loans Receivable, Net$480,033$556,216▲ $76,183
Savings and Temporary Cash Investments$398,964$514,816▲ $115,852
Accounts Receivable$77,566$136,680▲ $59,114
Prepaid Expenses and Deferred Charges$16,295$13,969▼ $2,326
Total Assets$3,543,377$3,702,964▲ $159,587
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,730,703$1,778,588▲ $47,885
Other Liabilities$915,000$915,000→ $0
Accounts Payable and Accrued Expenses$37,054$84,182▲ $47,128
Total Liabilities$2,682,757$2,777,770▲ $95,013
Net Assets / Fund Balance
Net Assets With Donor Restrictions$483,485$489,843▲ $6,358
Net Assets Without Donor Restrictions$377,135$435,351▲ $58,216
Total Net Assets Fund Balance$860,620$925,194▲ $64,574
Total Liabilities and Net Assets / Fund Balance$3,543,377$3,702,964▲ $159,587

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$571,904$1,270,647$1,842,551
Buildings$1,150,256$623,239$1,773,495
Land$188,544-$188,544
Equipment$1,327$33,333$34,660
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleFull / Part TimeBaseTotal
Robert FlintExecutive DirectorFT$100,769$100,769

Board Members and Trustees

NameTitle
Doug GurneyPresident
Patti PutnamVice President
Arianna RobinsonDirector
Dale WilliamsonDirector
Rick BibensDirector
Nathaniel CobbSecretary/Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$371,699
Program Service Revenue
$52,325
Investment Income
$143,296
Other Revenue
$-56,659
Change in Net Assets
$64,574
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$327,396
Other Expenses$118,691
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$173,447$0$0$173,447
Current Officers, Directors, Trustees, and Key Employees$103,062$0$0$103,062
Occupancy$15,940$18,050$0$33,990
Payroll Taxes$27,539$0$0$27,539
Other Employee Benefits$23,348$0$0$23,348
Fees for Services Legal$22,555$0$0$22,555
Other Expenses$9,350$5,720$0$15,070
Travel$7,242$0$0$7,242
Office Expenses$0$6,975$0$6,975
All Other Expenses$1,288$4,332$0$5,620
Insurance$2,932$1,887$0$4,819
Advertising$0$4,160$0$4,160
Total Functional Expenses$396,834$49,253$0$446,087
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
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Reserve for environmental remediation$915,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Audit committee
Yes
Backup withholding compliance
No
Business relationship with 35% controlled entity
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Springfield Regional Development Corp
EIN
03-0333399
Phone
8028853061
Address
14 Clinton Square Suite 7, Springfield, VT 05156

Signing Officer

Name
Nathaniel Cobb
Title
Treasurer
Phone
8028853061
Signed
2024-12-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Doug Gurney
Formed
1992
Legal Domicile
Vt
Voting Board Members
7
Independent Board Members
7
Employees
8
Volunteers
8

Preparer

Firm
VeroffCPA PC
Address
174 Court St, Laconia, NH 03246
Preparer
Steven M Veroff CPA
Phone
6035278721
Supplemental Narrative

Additional Explanations

Pt XI

“Restated security deposit balance after discovering issue with balance reported on prior year return”

Pt VI, Line 6

“Members”

Pt VI, Line 19

“Paper Ad, Annual Meeting, Board Meetings, and Staff Meetings”

Pt VI, Line 7A

“Members”

Pt VI, Line 8A

“Minutes taken”

Pt VI, Line 10B

“Annnual Meeting”

Pt VI, Line 15A

“Board Meeting”

Pt VI, Line 11B

“990 reviewed at annual meeting by board of directors”

Pt VI, Line 8B

“Minutes Taken”

Raw XML AppendixShowing 400 of 405 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt03742
IRS990/OtherRevenueMiscGrp/UnrelatedBusinessRevenueAmt00
IRS990/OtherRevenueTotalAmt03742
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt00
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt00
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0173447
IRS990/OtherSalariesAndWagesGrp/TotalAmt0173447
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt0480033
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IRS990/PayrollTaxesGrp/FundraisingAmt00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt00
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IRS990/PayrollTaxesGrp/TotalAmt027539
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IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt016295
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt013969
IRS990/PrincipalOfficerNm0Doug Gurney
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IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/BusinessCd1541900
IRS990/ProgramServiceRevenueGrp/Desc0Loan Fees Earned
IRS990/ProgramServiceRevenueGrp/Desc1Contract work
IRS990/ProgramServiceRevenueGrp/ExclusionAmt00
IRS990/ProgramServiceRevenueGrp/ExclusionAmt10
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0560
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt151765
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt10
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IRS990/PYContributionsGrantsAmt0381655
IRS990/PYInvestmentIncomeAmt027464
IRS990/PYOtherExpensesAmt083768
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IRS990/PYProgramServiceRevenueAmt0310
IRS990/PYRevenuesLessExpensesAmt056699
IRS990/PYSalariesCompEmpBnftPaidAmt0301410
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IRS990/ReportLandBuildingEquipmentInd0true
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IRS990ScheduleD/EquipmentGrp/BookValueAmt01327
IRS990ScheduleD/EquipmentGrp/DepreciationAmt033333
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt034660
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IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0188544
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0571904
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt01270647
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt01842551
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IRS990ScheduleD/TotalLiabilityAmt0915000
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Restated security deposit balance after discovering issue with balance reported on prior year return
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Members
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Paper Ad, Annual Meeting, Board Meetings, and Staff Meetings
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Members
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Minutes taken
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Annnual Meeting
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Board Meeting
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7990 reviewed at annual meeting by board of directors
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8Minutes Taken
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt XI
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Pt VI, Line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Pt VI, Line 8a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Pt VI, Line 10b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Pt VI, Line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8Pt VI, Line 8b
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0396834
IRS990/TotalFunctionalExpensesGrp/TotalAmt0446087
IRS990/TotalGrossUBIAmt00
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IRS990/TotalLiabilitiesGrp/BOYAmt02682757
IRS990/TotalLiabilitiesGrp/EOYAmt02777770
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0925194
IRS990/TotalOtherCompensationAmt00
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IRS990/TotalReportableCompFromOrgAmt0100769
IRS990/TotalRevenueGrp/ExclusionAmt043296
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt095666
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0510661
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IRS990/TravelGrp/ManagementAndGeneralAmt00
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IRS990/TravelGrp/TotalAmt07242
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt014 Clinton Square Ste 7
IRS990/USAddress/CityNm0Springfield
IRS990/USAddress/StateAbbreviationCd0VT
IRS990/USAddress/ZIPCd005156
IRS990/VotingMembersGoverningBodyCnt07
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IRS990/WebsiteAddressTxt0www.springfielddevelopment.org
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Nathaniel Cobb
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Treasurer
ReturnHeader/BusinessOfficerGrp/PhoneNum08028853061
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-12-02
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Springfield Regional Development Corp
ReturnHeader/Filer/BusinessNameControlTxt0SPRI
ReturnHeader/Filer/EIN0030333399
ReturnHeader/Filer/PhoneNum08028853061
ReturnHeader/Filer/USAddress/AddressLine1Txt014 Clinton Square Suite 7
ReturnHeader/Filer/USAddress/CityNm0Springfield
ReturnHeader/Filer/USAddress/StateAbbreviationCd0VT
ReturnHeader/Filer/USAddress/ZIPCd005156
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0923723175
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0VeroffCPA PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0174 Court St
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Laconia
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd003246
ReturnHeader/PreparerPersonGrp/PhoneNum06035278721
ReturnHeader/PreparerPersonGrp/PreparationDt02024-12-02
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Steven M Veroff CPA

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