Civic Intelligence

Vermont Flight Academy Inc

EIN 27-1366959 • 501(c)3 • South Burlington, VT

Profile

Vt flight academy was created to promote general aviation through a program of high quality flight training provided at a competitive cost.

355 Valley RoadSouth Burlington, VT 05403

www.vermontflightacademy.com

Siviq Scores

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

Liabilities / Assets

77th percentile

0.37x

Higher debt load relative to assets than 77% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Liabilities / Revenue

73rd percentile

0.29x

Higher debt load relative to revenue than 73% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Net Margin

16th percentile

-18%

Higher net margin than 16% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Top Officer Pay

69th percentile

$106,654

Higher top officer pay than 69% of similar nonprofits.

Top officer pay equals 4.4% of source-year revenue.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Asset Growth

9th percentile

-21%

Faster asset growth than 9% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2024 to 2025

Revenue Growth

24th percentile

-9.5%

Faster revenue growth than 24% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2024 to 2025

Balance Sheet
Liabilities / Assets77th percentile

Assets

Down

$1,921,199

Down $519,601 (-21%) from 2024

Liabilities

Down

$705,696

Down $77,565 (-9.9%) from 2024

Net Assets

Down

$1,215,503

Down $442,036 (-27%) from 2024

Operations
Liabilities / Revenue73rd percentileNet Margin16th percentile

Revenue

Down

$2,449,718

Down $256,046 (-9.5%) from 2024

Expenses

Up

$2,891,754

Up $198,915 (+7.4%) from 2024

Net Income

Down

-$442,036

Down $454,961 (-3520%) from 2024

Trend Graphs

Balance Sheet Trend

Asset Growth9th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MAssets 2011: $37,550Liabilities 2011: $62,749Net Assets 2011: -$25,1992011Assets 2013: $522,183Liabilities 2013: $380,726Net Assets 2013: $141,4572013Assets 2015: $692,327Liabilities 2015: $370,452Net Assets 2015: $321,8752015Assets 2016: $939,056Liabilities 2016: $467,105Net Assets 2016: $471,9512016Assets 2017: $1,058,670Liabilities 2017: $377,386Net Assets 2017: $681,2842017Assets 2018: $1,030,698Liabilities 2018: $213,475Net Assets 2018: $817,2232018Assets 2019: $1,101,676Liabilities 2019: $91,033Net Assets 2019: $1,010,6432019Assets 2020: $1,426,139Liabilities 2020: $304,593Net Assets 2020: $1,121,5462020Assets 2021: $2,128,401Liabilities 2021: $538,773Net Assets 2021: $1,589,6282021Assets 2022: $2,185,756Liabilities 2022: $422,303Net Assets 2022: $1,763,4532022Assets 2023: $2,466,057Liabilities 2023: $821,443Net Assets 2023: $1,644,6142023Assets 2024: $2,440,800Liabilities 2024: $783,261Net Assets 2024: $1,657,5392024Assets 2025: $1,921,199Liabilities 2025: $705,696Net Assets 2025: $1,215,5032025

Highlighted filing

2025

Assets$1,921,199
Liabilities$705,696
Net Assets$1,215,503
Open 2025 Filing

Operations Trend

Revenue Growth24th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2011: $237,1632011Revenue 2013: $1,057,215Expenses 2013: $986,849Net Income 2013: $70,3662013Revenue 2015: $974,378Expenses 2015: $957,502Net Income 2015: $16,8762015Revenue 2016: $1,185,015Expenses 2016: $1,034,939Net Income 2016: $150,0762016Revenue 2017: $1,266,609Expenses 2017: $1,057,276Net Income 2017: $209,3332017Revenue 2018: $1,449,185Expenses 2018: $1,313,246Net Income 2018: $135,9392018Revenue 2019: $1,537,634Expenses 2019: $1,344,214Net Income 2019: $193,4202019Revenue 2020: $1,406,531Expenses 2020: $1,295,628Net Income 2020: $110,9032020Revenue 2021: $2,063,436Expenses 2021: $1,595,354Net Income 2021: $468,0822021Revenue 2022: $2,174,599Expenses 2022: $2,000,774Net Income 2022: $173,8252022Revenue 2023: $2,663,621Expenses 2023: $2,782,460Net Income 2023: -$118,8392023Revenue 2024: $2,705,764Expenses 2024: $2,692,839Net Income 2024: $12,9252024Revenue 2025: $2,449,718Expenses 2025: $2,891,754Net Income 2025: -$442,0362025

Highlighted filing

2025

Revenue$2,449,718
Expenses$2,891,754
Net Income-$442,036
Open 2025 Filing

Filings

Most recent year

2025 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$1,921,199
Liabilities
$705,696
Net assets
$1,215,503
Revenue
$2,449,718
Expenses
$2,891,754
Net income
-$442,036
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.92$0.71$1.22$2.45$2.89$0.44
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.44$0.78$1.66$2.71$2.69$0.01
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.47$0.82$1.64$2.66$2.78$0.12
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.19$0.42$1.76$2.17$2.00$0.17
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.13$0.54$1.59$2.06$1.60$0.47
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.43$0.30$1.12$1.41$1.30$0.11
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.10$0.09$1.01$1.54$1.34$0.19
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.03$0.21$0.82$1.45$1.31$0.14
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.06$0.38$0.68$1.27$1.06$0.21
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.94$0.47$0.47$1.19$1.03$0.15
2015Detailed filing. Detailed filing data is available for this year.$0.69$0.37$0.32$0.97$0.96$0.02
2013Detailed filing. Detailed filing data is available for this year.$0.52$0.38$0.14$1.06$0.99$0.07
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.04$0.06$0.03$0.24
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Jun 30, 2025
Signed
Nov 6, 2025
Return Version
2024v5.0
Gross Receipts
$2,794,687
Mission and Program Overview

Mission

Vt flight academy was created to promote general aviation through a program of high quality flight training provided at a competitive cost.

Vermont flight academy was created to promote general aviation through a program of high quality flight training at a competitive cost.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,940,487$1,404,745▼ $535,742
Accounts Receivable$96,118$145,134▲ $49,016
Cash and Non-Interest-Bearing Accounts$114,313$123,471▲ $9,158
Inventories for Sale or Use$136,064$81,193▼ $54,871
Prepaid Expenses and Deferred Charges$82,685$60,023▼ $22,662
Investments Program Related$36,133$36,133→ $0
Total Assets$2,440,800$1,921,199▼ $519,601
Other Assets Total$35,000$70,500▲ $35,500
Liabilities
Mortgage Notes Payable Secured by Investment Property$461,083$416,784▼ $44,299
Deferred Revenue$166,123$205,437▲ $39,314
Accounts Payable and Accrued Expenses$156,055$83,475▼ $72,580
Total Liabilities$783,261$705,696▼ $77,565
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,657,539$1,215,503▼ $442,036
Total Net Assets Fund Balance$1,657,539$1,215,503▼ $442,036
Total Liabilities and Net Assets / Fund Balance$2,440,800$1,921,199▼ $519,601

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,388,620$918,374$2,306,994
Leasehold Improvements$16,125$4,607$20,732
Compensation and Service Providers
Top Officer Pay69th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Matthew SawyerExecutive DiFT$106,654$106,654

Board Members and Trustees

NameTitle
Christopher WeinbergPresident
Brad WorthenBoard Member
Michael SchirlingBoard Member
John CurranSecretary
Jon PizzagalliTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$2,452,361
Investment Income
$-7,608
Other Revenue
$4,965
Change in Net Assets
$-442,036
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,542,399
Salaries, Compensation, and Employee Benefits$1,349,355
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,063,170--$1,063,170
Depreciation Depletion$190,775--$190,775
Insurance$119,713--$119,713
Current Officers, Directors, Trustees, and Key Employees-$111,000-$111,000
Payroll Taxes$97,569--$97,569
Other Employee Benefits$77,616--$77,616
Information Technology$66,477--$66,477
Fees for Services Accounting$44,923--$44,923
Other Expenses$43,531--$43,531
Office Expenses$43,374--$43,374
Occupancy$28,804--$28,804
Interest$28,533--$28,533
All Other Expenses$26,894--$26,894
Fees for Services Legal$11,965--$11,965
Travel$9,459--$9,459
Advertising$3,327--$3,327
Total Functional Expenses$2,780,754$111,000$0$2,891,754
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
Backup withholding compliance
Yes
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“The 990 is distributed to each board member for review and comment prior to filing. The board has three weeks to reply.”

Form 990, Page 6, Part VI, Line 12C

“An annual review of any potential conflicts is discussed by the board. If any conflict exists a determination in how to proceed is made by the full board.”

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

“An email is circulated to the members of the board of directors with information regarding average pay rates for executive directors of like organizations. This average compensation is compared to the actual hours worked and a calculation for salary is made based on the available funds for this purpose. The board then votes and approves the compensation for the executive director.”

Form 990, Page 6, Part VI, Line 19

“Copies of by-laws and governing documents are kept at the office of vermont flight academy and are made available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Vermont Flight Academy Inc
EIN
27-1366959
Phone
8028635988
Address
355 VALLEY ROAD, SOUTH BURLINGTON, VT 05403

Signing Officer

Name
Matthew Sawyer
Title
Executive Director
Phone
8028635988
Signed
2025-11-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Matthew Sawyer
Formed
2010
Legal Domicile
Vt
Voting Board Members
5
Independent Board Members
4
Employees
63

Preparer

Firm
Kittell Branagan & Sargent
Address
154 N MAIN ST, ST ALBANS, VT 05478
Preparer
William Keyser CPA
Phone
8025249531
Raw XML Appendix369 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/Desc0287 NEW SIGNERS/STUDENTS CAME INTO OUR SYSTEM IN 2024/25. THESE INDIVIDUALS SIGNED UP FOR INDIVIDUAL FLIGHT INSTRUCTION, DISCOVERY FLIGHT LESSONS AND GROUND TRAINING. VFA CONTINUES ITS PARTNERSHIP WITH VERMONT TECHNICAL COLLEGE (NOW PART OF VERMONT STATE UNIVERSITY) FOR THE NINTH YEAR. STUDENTS ARE GETTING THEIR PRIVATE,INSTRUMENT AND COMMERCIAL LICENSES/ENDORSEMENTS. THERE WERE 48 STUDENTS ENROLLED THIS YEAR THROUGH THE VERMONT STATE UNIVERSITY PROGRAM. VFA OPERATES A TOTAL OF 11 AIRCRAFT AND SIMULATORS OF WHICH 8 ARE OWNED DIRECTLY BY VFA. THE OTHER 5 ARE UNDER CONTRACT AND OPERATED FOR BUSINESS PURPOSES UNDER A "LEASE BACK" ARRANGEMENT.
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IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt1-782
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IRS990/ProgramServiceRevenueGrp/BusinessCd0611600
IRS990/ProgramServiceRevenueGrp/Desc0PROGRAM SERVICE REVENUE
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt02452361
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IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt0197438
IRS990/PYOtherExpensesAmt01364984
IRS990/PYOtherRevenueAmt0151
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IRS990/PYRevenuesLessExpensesAmt012925
IRS990/PYSalariesCompEmpBnftPaidAmt01327855
IRS990/PYTotalExpensesAmt02692839
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IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0-442036
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IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt02448219
IRS990ScheduleA/SchoolInd0X
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IRS990ScheduleD/EquipmentGrp/BookValueAmt01388620
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0918374
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt02306994
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt016125
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt04607
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt020732
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01404745
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IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
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IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0false
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE POLICY IS INCLUDED IN ALL BROCHURES AND ADVERTISING.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1NO SCHOLARSHIPS ARE AWARDED BY VERMONT FLIGHT ACADEMY.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, LINE 4
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE 990 IS DISTRIBUTED TO EACH BOARD MEMBER FOR REVIEW AND COMMENT PRIOR TO FILING. THE BOARD HAS THREE WEEKS TO REPLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1AN ANNUAL REVIEW OF ANY POTENTIAL CONFLICTS IS DISCUSSED BY THE BOARD. IF ANY CONFLICT EXISTS A DETERMINATION IN HOW TO PROCEED IS MADE BY THE FULL BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2AN EMAIL IS CIRCULATED TO THE MEMBERS OF THE BOARD OF DIRECTORS WITH INFORMATION REGARDING AVERAGE PAY RATES FOR EXECUTIVE DIRECTORS OF LIKE ORGANIZATIONS. THIS AVERAGE COMPENSATION IS COMPARED TO THE ACTUAL HOURS WORKED AND A CALCULATION FOR SALARY IS MADE BASED ON THE AVAILABLE FUNDS FOR THIS PURPOSE. THE BOARD THEN VOTES AND APPROVES THE COMPENSATION FOR THE EXECUTIVE DIRECTOR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3COPIES OF BY-LAWS AND GOVERNING DOCUMENTS ARE KEPT AT THE OFFICE OF VERMONT FLIGHT ACADEMY AND ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalEmployeeCnt063
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0111000
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02780754
IRS990/TotalFunctionalExpensesGrp/TotalAmt02891754
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0783261
IRS990/TotalLiabilitiesEOYAmt0705696
IRS990/TotalLiabilitiesGrp/BOYAmt0783261
IRS990/TotalLiabilitiesGrp/EOYAmt0705696
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01657539
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01215503
IRS990/TotalProgramServiceExpensesAmt02780754
IRS990/TotalProgramServiceRevenueAmt02452361
IRS990/TotalReportableCompFromOrgAmt0106654
IRS990/TotalRevenueGrp/ExclusionAmt01499
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt02448219
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02449718
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02440800
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01921199
IRS990/TravelGrp/ProgramServicesAmt09459
IRS990/TravelGrp/TotalAmt09459
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0355 VALLEY ROAD
IRS990/USAddress/CityNm0SO BURLINGTON
IRS990/USAddress/StateAbbreviationCd0VT
IRS990/USAddress/ZIPCd005403
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0WWW.FLYVFA.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0MATTHEW SAWYER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum08028635988
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-11-06
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0VERMONT FLIGHT ACADEMY INC
ReturnHeader/Filer/BusinessNameControlTxt0VERM
ReturnHeader/Filer/EIN0271366959
ReturnHeader/Filer/PhoneNum08028635988
ReturnHeader/Filer/USAddress/AddressLine1Txt0355 VALLEY ROAD
ReturnHeader/Filer/USAddress/CityNm0SOUTH BURLINGTON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0VT
ReturnHeader/Filer/USAddress/ZIPCd005403
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0030302296
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0KITTELL BRANAGAN & SARGENT
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0154 N MAIN ST
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0ST ALBANS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0VT
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd005478
ReturnHeader/PreparerPersonGrp/PhoneNum08025249531
ReturnHeader/PreparerPersonGrp/PreparationDt02025-11-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0WILLIAM KEYSER CPA
ReturnHeader/ReturnTs02025-11-13T11:09:54-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-07-01
ReturnHeader/TaxPeriodEndDt02025-06-30
ReturnHeader/TaxYr02024

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