Civic Intelligence

Lake Champlain Lifelong Learning Fund Inc

990 • Fiscal year 2017 • EIN 03-0366744

Oct 01, 2016 to Sep 30, 2017 • Filed on Feb 28, 2018

Organization ProfileWWW.VERMONT.ORG
60 Main Street No 100Burlington, VT 05401

(802) 863-3489

Siviq Scores

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

Liabilities / Assets

86th percentile

0.31x

Higher debt load relative to assets than 86% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Liabilities / Revenue

84th percentile

0.14x

Higher debt load relative to revenue than 84% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Net Margin

68th percentile

13%

Higher net margin than 68% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Top Officer Pay

99th percentile

$197,196

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 73.4% of source-year revenue.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Asset Growth

88th percentile

69%

Faster asset growth than 88% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Annualized from 2016 to 2017

Revenue Growth

95th percentile

158%

Faster revenue growth than 95% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets86th percentile

Assets

Up

$117,388

Up $47,905 (+69%) from 2016

Net Assets

Up

$80,784

Up $35,931 (+80%) from 2016

Liabilities

Up

$36,604

Up $11,974 (+49%) from 2016

Revenue And Expenses
Liabilities / Revenue84th percentileNet Margin68th percentile

Revenue

Up

$268,595

Up $164,325 (+158%) from 2016

Expenses

Up

$232,664

Up $139,437 (+150%) from 2016

Net Income

Up

$35,931

Up $24,888 (+225%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth88th percentile

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

$1.5M$1.0M$500K$0Assets 2014: $118,493Liabilities 2014: $92,672Net Assets 2014: $25,8212014Assets 2015: $87,588Liabilities 2015: $53,778Net Assets 2015: $33,8102015Assets 2016: $69,483Liabilities 2016: $24,630Net Assets 2016: $44,8532016Assets 2017: $117,388Liabilities 2017: $36,604Net Assets 2017: $80,7842017Assets 2018: $11,261Liabilities 2018: $2,000Net Assets 2018: $9,2612018Assets 2019: $97,725Liabilities 2019: $19,919Net Assets 2019: $77,8062019Assets 2020: $184,181Liabilities 2020: $23,419Net Assets 2020: $160,7622020Assets 2021: $1,106,135Liabilities 2021: $224,526Net Assets 2021: $881,6092021Assets 2022: $1,032,024Liabilities 2022: $1,086Net Assets 2022: $1,030,9382022Assets 2023: $1,151,949Liabilities 2023: $77Net Assets 2023: $1,151,8722023Assets 2024: $1,402,471Liabilities 2024: $345Net Assets 2024: $1,402,1262024

Highlighted filing

2017

Assets$117,388
Liabilities$36,604
Net Assets$80,784
Open 2017 Filing

Operations Trend

Revenue Growth95th percentile

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

$1.0M$500K$0-$500KRevenue 2014: $183,882Expenses 2014: $170,771Net Income 2014: $13,1112014Revenue 2015: $108,641Expenses 2015: $100,652Net Income 2015: $7,9892015Revenue 2016: $104,270Expenses 2016: $93,227Net Income 2016: $11,0432016Revenue 2017: $268,595Expenses 2017: $232,664Net Income 2017: $35,9312017Revenue 2018: $147,728Expenses 2018: $219,251Net Income 2018: -$71,5232018Revenue 2019: $285,846Expenses 2019: $217,301Net Income 2019: $68,5452019Revenue 2020: $225,127Expenses 2020: $142,171Net Income 2020: $82,9562020Revenue 2021: $987,053Expenses 2021: $266,206Net Income 2021: $720,8472021Revenue 2022: $248,919Expenses 2022: $64,800Net Income 2022: $184,1192022Revenue 2023: $286,578Expenses 2023: $133,961Net Income 2023: $152,6172023Revenue 2024: $418,978Expenses 2024: $173,376Net Income 2024: $245,6022024

Highlighted filing

2017

Revenue$268,595
Expenses$232,664
Net Income$35,931
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2016 to Sep 30, 2017
Signed
Feb 28, 2018
Return Version
2016v3.0
Gross Receipts
$268,595
Mission and Program Overview

Mission

The purpose of this non-profit organization is to develop and implement workforce development strategies that support business and industry primarily in our region of vermont (chittenden county) and statewide. These strategies include: the launchvt initiative, and the navigator program.

The purpose of this non-profit organization is to develop and implement worfforce development strategies that support business and industry primarily in our region of vermont (chittenden county) and statewide. These strategies include: the launchvt and hackvt intiatives.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$69,483$117,388▲ $47,905
Total Assets$69,483$117,388▲ $47,905
Liabilities
Deferred Revenue$19,000$20,500▲ $1,500
Accounts Payable and Accrued Expenses$5,630$16,104▲ $10,474
Total Liabilities$24,630$36,604▲ $11,974
Net Assets / Fund Balance
Unrestricted Net Assets$44,853$80,784▲ $35,931
Total Net Assets Fund Balance$44,853$80,784▲ $35,931
Total Liabilities and Net Assets / Fund Balance$69,483$117,388▲ $47,905
Compensation and Service Providers
Top Officer Pay99th percentile

Employees

NameTitleOtherTotal
PATRICK O'NEILSecretary$66,435$66,435

Board Members and Trustees

NameTitle
Thomas TortiExecutive Director
Revenue and Support

Revenue Composition

Contributions and Grants
$235,320
Program Service Revenue
$33,275
Investment Income
$0
Other Revenue
$0
All Other Contributions
$235,320
Change in Net Assets
$35,931

Audited Revenue Reconciliation

Revenue per Audited Statements
$268,595
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$18,300
Total Revenue per Audited Statements
$286,895
Total Revenue per Form 990
$268,595
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$103,926
Salaries, Compensation, and Employee Benefits$83,738
Grants and Similar Amounts Paid$45,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$83,738--$83,738
Grants to Domestic Orgs$45,000--$45,000
Advertising$40,660--$40,660
Occupancy$13,309--$13,309
Office Expenses$553--$553
Other Expenses$35--$35
Total Functional Expenses$232,664$0$0$232,664

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$250,964
Expenses per Audited Statements$232,664
Total Expenses per Form 990$232,664
Expenses Not Reported on Form 990$18,300
Expenses Not Reported on Financial Statements$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Beacon LLCSouth Burlington, VT-Launchvt Winner$30,000
Packetized Energy TechnologiesBurlington, VT-Launchvt Winner$15,000
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
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
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“A copy of the 990 was provided to the board of directors for review and approval prior to the 990 being filed.”

Form 990, Part VI, Section B, Line 12C

“We have a conflict of interest policy in our employee manual - the entire manual is reviewed, acknowledged and signed off by the employee upon hiring. The employee manual is updated by outside council and reviewed by staff - last time formally - 2007 and is available in our database for employees to review/print/etc., at any time. We encourage and foster open communications between staff & management.”

Form 990, Part VI, Section B, Line 15

“The chair of the board solicits feedback on the president's performance from the board members and others that are deemed appropriate. The chair also confers with members of the executive committee in making salary adjustments. The chair reviews salary and beneift comparables for both in-state and out of state non-profit businesses. Each year every employee compiles a list of their accomplishments compared to the goals set by their supervisor. The supervisor then reviews this list with the employee. Compensation usually increases across the board anywhere between 3-5% per year. On an occasion, if the wages seem way out of line, they will be adjusted to more be in line with that position, responsibilities and comparables.”

Form 990, Part VI, Section C, Line 19

“AVAILABLE UPON REQUEST.”

Filing and Contact Details

Filer

Filer Name
Lake Champlain Lifelong
EIN
03-0366744
Phone
8028633489
Address
60 MAIN STREET NO 100, BURLINGTON, VT 05401

Signing Officer

Name
Tom Torti
Title
Executive Director
Phone
8028633489
Signed
2018-02-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Tom Torti
Formed
1999
Legal Domicile
Vt
Voting Board Members
2
Independent Board Members
0
Employees
0
Volunteers
10

Preparer

Firm
Mcsoley Mccoy & Co
Address
118 TILLEY DRIVE STE 202, SOUTH BURLINGTON, VT 05403
Preparer
Connie Fellion
Phone
8026581808
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

“The process has not changed from the prior year.”

Financial Statement Notes

Part X - Fin 48 Footnote

“The organization annually files an irs form 990, return of organization exempt from income tax, tax return in the u.s. Federal jurisdiction. The organization is no longer subject to u.s. Federal income tax examination by tax authorities for the years prior to september 30, 2014. In the normal course of business, the organization is subject to examination by various taxing authorities. Although the outcome of tax audits is always uncertain, the management of the organization believes that there are no significant unrecognized tax liabilities at september 30, 2017.”

Raw XML AppendixShowing 400 of 410 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/ActivityOrMissionDesc0THE PURPOSE OF THIS NON-PROFIT ORGANIZATION IS TO DEVELOP AND IMPLEMENT WORFFORCE DEVELOPMENT STRATEGIES THAT SUPPORT BUSINESS AND INDUSTRY PRIMARILY IN OUR REGION OF VERMONT (CHITTENDEN COUNTY) AND STATEWIDE. THESE STRATEGIES INCLUDE: THE LAUNCHVT AND HACKVT INTIATIVES.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION ANNUALLY FILES AN IRS FORM 990, RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX, TAX RETURN IN THE U.S. FEDERAL JURISDICTION. THE ORGANIZATION IS NO LONGER SUBJECT TO U.S. FEDERAL INCOME TAX EXAMINATION BY TAX AUTHORITIES FOR THE YEARS PRIOR TO SEPTEMBER 30, 2014. IN THE NORMAL COURSE OF BUSINESS, THE ORGANIZATION IS SUBJECT TO EXAMINATION BY VARIOUS TAXING AUTHORITIES. ALTHOUGH THE OUTCOME OF TAX AUDITS IS ALWAYS UNCERTAIN, THE MANAGEMENT OF THE ORGANIZATION BELIEVES THAT THERE ARE NO SIGNIFICANT UNRECOGNIZED TAX LIABILITIES AT SEPTEMBER 30, 2017.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X - FIN 48 FOOTNOTE
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0EXECUTIVE DIRECTOR
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0197196
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A COPY OF THE 990 WAS PROVIDED TO THE BOARD OF DIRECTORS FOR REVIEW AND APPROVAL PRIOR TO THE 990 BEING FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1WE HAVE A CONFLICT OF INTEREST POLICY IN OUR EMPLOYEE MANUAL - THE ENTIRE MANUAL IS REVIEWED, ACKNOWLEDGED AND SIGNED OFF BY THE EMPLOYEE UPON HIRING. THE EMPLOYEE MANUAL IS UPDATED BY OUTSIDE COUNCIL AND REVIEWED BY STAFF - LAST TIME FORMALLY - 2007 AND IS AVAILABLE IN OUR DATABASE FOR EMPLOYEES TO REVIEW/PRINT/ETC., AT ANY TIME. WE ENCOURAGE AND FOSTER OPEN COMMUNICATIONS BETWEEN STAFF & MANAGEMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE CHAIR OF THE BOARD SOLICITS FEEDBACK ON THE PRESIDENT'S PERFORMANCE FROM THE BOARD MEMBERS AND OTHERS THAT ARE DEEMED APPROPRIATE. THE CHAIR ALSO CONFERS WITH MEMBERS OF THE EXECUTIVE COMMITTEE IN MAKING SALARY ADJUSTMENTS. THE CHAIR REVIEWS SALARY AND BENEIFT COMPARABLES FOR BOTH IN-STATE AND OUT OF STATE NON-PROFIT BUSINESSES. EACH YEAR EVERY EMPLOYEE COMPILES A LIST OF THEIR ACCOMPLISHMENTS COMPARED TO THE GOALS SET BY THEIR SUPERVISOR. THE SUPERVISOR THEN REVIEWS THIS LIST WITH THE EMPLOYEE. COMPENSATION USUALLY INCREASES ACROSS THE BOARD ANYWHERE BETWEEN 3-5% PER YEAR. ON AN OCCASION, IF THE WAGES SEEM WAY OUT OF LINE, THEY WILL BE ADJUSTED TO MORE BE IN LINE WITH THAT POSITION, RESPONSIBILITIES AND COMPARABLES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XII, LINE 2C:
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IRS990ScheduleR/AssetSaleToOtherOrgInd00
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IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd01
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd01
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IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt1232661
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt2148923
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0WAGES
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1EXPENSES REIMBURSED
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt2USE OF ASSETS
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0LAKE CHAMPLAIN REGIONAL CHAMBER OF COMMERCE
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1LAKE CHAMPLAIN REGIONAL CHAMBER OF COMMERCE
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IRS990/TaxablePartyNotificationInd00
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IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02018-03-14 21:41:22Z
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ReturnHeader/BusinessOfficerGrp/SignatureDt02018-02-28
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LAKE CHAMPLAIN LIFELONG
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0LEARNING FUND INC
ReturnHeader/Filer/BusinessNameControlTxt0LAKE
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ReturnHeader/FilingSecurityInformation/IPDt02018-02-28
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ES
ReturnHeader/FilingSecurityInformation/IPTm009:39:26
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0030327374
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MCSOLEY MCCOY & CO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0118 TILLEY DRIVE STE 202

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$117,388
Liabilities
$36,604
Net assets
$80,784
Revenue
$268,595
Expenses
$232,664
Net income
$35,931
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.40$0.00$1.40$0.42$0.17$0.25
2023Detailed filing. Detailed filing data is available for this year.$1.15$0.00$1.15$0.29$0.13$0.15
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.03$0.00$1.03$0.25$0.06$0.18
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.11$0.22$0.88$0.99$0.27$0.72
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.18$0.02$0.16$0.23$0.14$0.08
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.10$0.02$0.08$0.29$0.22$0.07
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.01$0.00$0.01$0.15$0.22$0.07
2017Detailed filing. Detailed filing data is available for this year.$0.12$0.04$0.08$0.27$0.23$0.04
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.07$0.02$0.04$0.10$0.09$0.01
2015Detailed filing. Detailed filing data is available for this year.$0.09$0.05$0.03$0.11$0.10$0.01
2014Detailed filing. Detailed filing data is available for this year.$0.12$0.09$0.03$0.18$0.17$0.01