Civic Intelligence

Lake Champlain Lifelong Learning Fund Inc

990 • Fiscal year 2014 • EIN 03-0366744

Oct 01, 2013 to Sep 30, 2014 • Filed on Jan 29, 2015

60 Main StreetRoom/Suite 100Burlington, VT 05401

(802) 863-3489

Siviq Scores

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

Liabilities / Assets

92nd percentile

0.78x

Higher debt load relative to assets than 92% of similar nonprofits.

2014 filings • 501(c)3 • <$500k nonprofits • Source year 2014

Liabilities / Revenue

92nd percentile

0.50x

Higher debt load relative to revenue than 92% of similar nonprofits.

2014 filings • 501(c)3 • <$500k nonprofits • Source year 2014

Net Margin

59th percentile

7.1%

Higher net margin than 59% of similar nonprofits.

2014 filings • 501(c)3 • <$500k nonprofits • Source year 2014

Top Officer Pay

99th percentile

$187,995

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 102.2% of source-year revenue.

2014 filings • 501(c)3 • <$500k nonprofits • Source year 2014

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2014

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2014

Assets

$118,493

No earlier filing loaded for comparison.

Net Assets

$25,821

No earlier filing loaded for comparison.

Liabilities

$92,672

No earlier filing loaded for comparison.

Revenue

$183,882

No earlier filing loaded for comparison.

Expenses

$170,771

No earlier filing loaded for comparison.

Net Income

$13,111

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

2014

Assets$118,493
Liabilities$92,672
Net Assets$25,821

Operations Trend

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

2014

Revenue$183,882
Expenses$170,771
Net Income$13,111
Jump To
Filing Snapshot
Filing Period
Oct 1, 2013 to Sep 30, 2014
Signed
Jan 29, 2015
Return Version
2013v4.0
Gross Receipts
$183,882
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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$12,710$87,811▲ $75,101
Pledges and Grants Receivable-$30,682-
Total Assets$12,710$118,493▲ $105,783
Liabilities
Accounts Payable and Accrued Expenses-$92,672-
Total Liabilities$0$92,672▲ $92,672
Net Assets / Fund Balance
Unrestricted Net Assets$12,710$25,821▲ $13,111
Total Net Assets Fund Balance$12,710$25,821▲ $13,111
Total Liabilities and Net Assets / Fund Balance$12,710$118,493▲ $105,783
Compensation and Service Providers

Employees

NameTitleOtherTotal
Thomas TortiExecutive Di$187,995$187,995
PATRICK O'NEILSecretary$2,308$2,308

Board Members and Trustees

NameTitle
Thomas TortiExecutive Director
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$183,882
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$13,111
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$101,681
Salaries, Compensation, and Employee Benefits$69,090
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$59,250--$59,250
Other Expenses$58,763--$58,763
Office Expenses$33,424--$33,424
Other Employee Benefits$5,100--$5,100
Occupancy$4,953--$4,953
Payroll Taxes$4,740--$4,740
Advertising$2,757--$2,757
Travel$1,784--$1,784
Total Functional Expenses$170,771$0$0$170,771
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
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, Page 6, Part VI, 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, Page 6, Part VI, Line 12C

We have a conflict of interest policy in our employee manual - the entire manual is reviewed, acknowledged and signed off on 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, Page 6, Part VI, Line 15A

The chair of the board solicits feedback on the president's performance from 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 benefit comparables for both in-state and out of state non-profit businesses.

Form 990, Page 6, Part VI, Line 15B

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, Page 6, Part VI, Line 19

AVAILABLE UPON REQUEST.

Filing and Contact Details

Filer

EIN
03-0366744
Phone
8028633489

Signing Officer

Name
Tom Torti
Title
Executive Director
Phone
8028633489
Signed
2015-01-29
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

Preparer

Preparer
Bret Hodgdon
Phone
8028781963
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S 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.

Financial Statement Notes

Schedule D, Page 3, Part X

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, 2011. 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 liabilties at september 30, 2014 and 2013.

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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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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, 2011. 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 LIABILTIES AT SEPTEMBER 30, 2014 AND 2013.
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IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0THE CHAIR OF THE BOARD SOLICITS FEEDBACK ON THE PRESIDENT'S PERFORMANCE FROM 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 BENEFIT COMPARABLES FOR BOTH IN-STATE AND OUT OF STATE NON-PROFIT BUSINESSES.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A COPY OF THE 990 WAS PROVIDED TO THE BOARD OF DIRECTORS FOR REVIEW AND APPROVAL PRIOR TO THE 990 BEING FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2WE HAVE A CONFLICT OF INTEREST POLICY IN OUR EMPLOYEE MANUAL - THE ENTIRE MANUAL IS REVIEWED, ACKNOWLEDGED AND SIGNED OFF ON 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/ExplanationTxt3THE CHAIR OF THE BOARD SOLICITS FEEDBACK ON THE PRESIDENT'S PERFORMANCE FROM 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 BENEFIT COMPARABLES FOR BOTH IN-STATE AND OUT OF STATE NON-PROFIT BUSINESSES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4EACH 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/ExplanationTxt5AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0MEMBERSHIP
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/City0BULINGTON
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/State0VT
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCode005401
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IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0true
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IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0true
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0true
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt069090
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt1170771
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt2101681
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0WAGES
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1EXPENSES REIMBURSED
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt2USE OF ASSETS
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine10LAKE CHAMPLAIN REGIONAL CHAMBER OF
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine11LAKE CHAMPLAIN REGIONAL CHAMBER OF
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine12LAKE CHAMPLAIN REGIONAL CHAMBER OF
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0O
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IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt012710
IRS990/TotalAssetsEOYAmt0118493
IRS990/TotalAssetsGrp/BOYAmt012710
IRS990/TotalAssetsGrp/EOYAmt0118493
IRS990/TotalCompGreaterThan150KInd0true
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0170771
IRS990/TotalFunctionalExpensesGrp/TotalAmt0170771
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt092672
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt092672
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt012710
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt025821
IRS990/TotalOtherCompensationAmt08755
IRS990/TotalProgramServiceExpensesAmt0170771
IRS990/TotalProgramServiceRevenueAmt0183882
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0183882
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0183882
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt012710
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0118493
IRS990/TotReportableCompRltdOrgAmt0181548
IRS990/TravelGrp/ProgramServicesAmt01784
IRS990/TravelGrp/TotalAmt01784
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt012710
IRS990/UnrestrictedNetAssetsGrp/EOYAmt025821
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1060 MAIN ST
IRS990/USAddress/City0BURLINGTON
IRS990/USAddress/State0VT
IRS990/USAddress/ZIPCode005401
IRS990/VotingMembersGoverningBodyCnt02
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0WWW.VERMONT.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02016-04-25 22:37:26Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0TOM TORTI
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum08028633489
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-01-29
ReturnHeader/Filer/BusinessName/BusinessNameLine10LAKE CHAMPLAIN LIFELONG
ReturnHeader/Filer/BusinessName/BusinessNameLine20LEARNING FUND INC
ReturnHeader/Filer/BusinessNameControlTxt0LAKE
ReturnHeader/Filer/EIN0030366744
ReturnHeader/Filer/PhoneNum08028633489
ReturnHeader/Filer/USAddress/AddressLine1060 MAIN STREET
ReturnHeader/Filer/USAddress/AddressLine20ROOM/SUITE 100
ReturnHeader/Filer/USAddress/City0BURLINGTON
ReturnHeader/Filer/USAddress/State0VT
ReturnHeader/Filer/USAddress/ZIPCode005401
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0030325875
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine10DAVIS & HODGDON ASSOCIATES CPAS PLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1033 BLAIR PARK RD STE 201
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/City0WILLISTON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/State0VT
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCode005495
ReturnHeader/PreparerPersonGrp/PhoneNum08028781963
ReturnHeader/PreparerPersonGrp/PreparationDt02015-03-17
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0BRET HODGDON
ReturnHeader/ReturnTs02015-03-17T17:58:28-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02013-10-01
ReturnHeader/TaxPeriodEndDt02014-09-30
ReturnHeader/TaxYr02013

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