Civic Intelligence

Lake Champlain Lifelong Learning Fund Inc

990 • Fiscal year 2018 • EIN 03-0366744

Oct 01, 2017 to Sep 30, 2018 • Filed on Jun 12, 2019

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

82nd percentile

0.18x

Higher debt load relative to assets than 82% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Liabilities / Revenue

67th percentile

0.01x

Higher debt load relative to revenue than 67% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Net Margin

8th percentile

-48%

Higher net margin than 8% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Top Officer Pay

99th percentile

$190,009

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 128.6% of source-year revenue.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Asset Growth

3rd percentile

-90%

Faster asset growth than 3% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Annualized from 2017 to 2018

Revenue Growth

11th percentile

-45%

Faster revenue growth than 11% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Annualized from 2017 to 2018

Assets

Down

$11,261

Down $106,127 (-90%) from 2017

Net Assets

Down

$9,261

Down $71,523 (-89%) from 2017

Liabilities

Down

$2,000

Down $34,604 (-95%) from 2017

Revenue

Down

$147,728

Down $120,867 (-45%) from 2017

Expenses

Down

$219,251

Down $13,413 (-5.8%) from 2017

Net Income

Down

-$71,523

Down $107,454 (-299%) from 2017

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

2018

Assets$11,261
Liabilities$2,000
Net Assets$9,261

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

2018

Revenue$147,728
Expenses$219,251
Net Income-$71,523
Jump To
Filing Snapshot
Filing Period
Oct 1, 2017 to Sep 30, 2018
Signed
Jun 12, 2019
Return Version
2017v2.3
Gross Receipts
$147,728
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$117,388$8,585▼ $108,803
Total Assets$117,388$11,261▼ $106,127
Other Assets Total$0$2,676▲ $2,676
Liabilities
Accounts Payable and Accrued Expenses$16,104--
Deferred Revenue$20,500$2,000▼ $18,500
Total Liabilities$36,604$2,000▼ $34,604
Net Assets / Fund Balance
Unrestricted Net Assets$80,784$9,261▼ $71,523
Total Net Assets Fund Balance$80,784$9,261▼ $71,523
Total Liabilities and Net Assets / Fund Balance$117,388$11,261▼ $106,127

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$2,676--
Compensation and Service Providers

Employees

NameTitleOtherTotal
PATRICK O'NEILSecretary$80,813$80,813

Board Members and Trustees

NameTitle
Thomas TortiExecutive Director
Revenue and Support

Revenue Composition

Contributions and Grants
$113,478
Program Service Revenue
$34,250
Investment Income
$0
Other Revenue
$0
All Other Contributions
$113,478
Change in Net Assets
$-71,523
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$90,469
Other Expenses$67,282
Grants and Similar Amounts Paid$61,500
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$90,469--$90,469
Grants to Domestic Orgs$45,000--$45,000
Advertising$25,092--$25,092
Grants to Domestic Individuals$16,500--$16,500
Occupancy$10,488--$10,488
Office Expenses$2,259--$2,259
Other Expenses$706--$706
Total Functional Expenses$219,251$0$0$219,251
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Burlington Code Academy LLCProctor, VT-Launchvt Winner$30,000
Northview Weather LLCBarton, 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
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
2019-06-12

Organization Details

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

Preparer

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

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, 2018.

Raw XML Appendix394 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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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, 2018.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X - FIN 48 FOOTNOTE
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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/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
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IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
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IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd01
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd01
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd01
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt090469
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt1255001
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt2164532
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
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt2LAKE CHAMPLAIN REGIONAL CHAMBER OF COMMERCE
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0O
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt1P
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IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0VT
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0117388
IRS990/TotalAssetsEOYAmt011261
IRS990/TotalAssetsGrp/BOYAmt0117388
IRS990/TotalAssetsGrp/EOYAmt011261
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalContributionsAmt0113478
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0219251
IRS990/TotalFunctionalExpensesGrp/TotalAmt0219251
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt036604
IRS990/TotalLiabilitiesEOYAmt02000
IRS990/TotalLiabilitiesGrp/BOYAmt036604
IRS990/TotalLiabilitiesGrp/EOYAmt02000
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt080784
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt09261
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0219251
IRS990/TotalProgramServiceRevenueAmt034250
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt034250
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0147728
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0117388
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt011261
IRS990/TotReportableCompRltdOrgAmt0270822
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt080784
IRS990/UnrestrictedNetAssetsGrp/EOYAmt09261
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt060 MAIN STREET NO 100
IRS990/USAddress/CityNm0BURLINGTON
IRS990/USAddress/StateAbbreviationCd0VT
IRS990/USAddress/ZIPCd005401
IRS990/VotingMembersGoverningBodyCnt02
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0WWW.VERMONT.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/PersonNm0TOM TORTI
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum08028633489
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-06-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LAKE CHAMPLAIN LIFELONG
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0LEARNING FUND INC
ReturnHeader/Filer/BusinessNameControlTxt0LAKE
ReturnHeader/Filer/EIN0030366744
ReturnHeader/Filer/PhoneNum08028633489
ReturnHeader/Filer/USAddress/AddressLine1Txt060 MAIN STREET NO 100
ReturnHeader/Filer/USAddress/CityNm0BURLINGTON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0VT
ReturnHeader/Filer/USAddress/ZIPCd005401
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId030E2628FA1A9383981CC71F81484FDCFCED1A152
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId03F3172ED464E3985166F71323228848ABC80AAFD
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt064.88.174.3
ReturnHeader/FilingSecurityInformation/IPDt02019-06-12
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ED
ReturnHeader/FilingSecurityInformation/IPTm008:34:57
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0030327374
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MCSOLEY MCCOY & CO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0118 TILLEY DRIVE STE 202
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0SOUTH BURLINGTON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0VT
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd005403
ReturnHeader/PreparerPersonGrp/PhoneNum08026581808
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0CONNIE FELLION
ReturnHeader/ReturnTs02019-06-17T08:03:53-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-10-01
ReturnHeader/TaxPeriodEndDt02018-09-30
ReturnHeader/TaxYr02017

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