Civic Intelligence

Southeastern Vermont Economic Development Strategies Inc

EIN 46-2760132 • 501(c)3 • Brattleboro, VT

Profile

Seveds exists to reverse the windham regions economic decline. We envision developing the southern vermont economy to generate long-term growth and prosperity, improve the regions quality of life, and sustain its quality of place.

76 Cotton Mill HillBrattleboro, VT 05301

www.seveds.com

Siviq Scores

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

Liabilities / Assets

60th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)3 • <$500k nonprofits • Source year 2024

Liabilities / Revenue

62nd percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)3 • <$500k nonprofits • Source year 2024

Net Margin

68th percentile

13%

Higher net margin than 68% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2024

Top Officer Pay

99th percentile

$160,587

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 91.1% of source-year revenue.

501(c)3 • <$500k nonprofits • Source year 2024

Asset Growth

72nd percentile

15%

Faster asset growth than 72% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2023 to 2024

Revenue Growth

52nd percentile

-0.3%

Faster revenue growth than 52% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2023 to 2024

Assets

Up

$183,790

Up $23,295 (+15%) from 2023

Liabilities

Down

$0

Down $6,844 (-100%) from 2023

Net Assets

Up

$183,790

Up $30,139 (+20%) from 2023

Revenue

Down

$176,259

Down $509 (-0.3%) from 2023

Expenses

Down

$152,692

Down $9,638 (-5.9%) from 2023

Net Income

Up

$23,567

Up $9,129 (+63%) from 2023

Trend Graphs

Balance Sheet Trend

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

$200K$150K$100K$50K$0Assets 2016: $147,284Liabilities 2016: $14,069Net Assets 2016: $133,2152016Assets 2017: $161,166Liabilities 2017: $17,783Net Assets 2017: $143,3832017Assets 2018: $77,854Liabilities 2018: $17,612Net Assets 2018: $60,2422018Assets 2019: $78,674Liabilities 2019: $14,595Net Assets 2019: $64,0792019Assets 2020: $100,463Liabilities 2020: $16,913Net Assets 2020: $83,5502020Assets 2021: $127,367Liabilities 2021: $2,800Net Assets 2021: $124,5672021Assets 2022: $143,666Liabilities 2022: $4,453Net Assets 2022: $139,2132022Assets 2023: $160,495Liabilities 2023: $6,844Net Assets 2023: $153,6512023Assets 2024: $183,790Liabilities 2024: $0Net Assets 2024: $183,7902024

Highlighted filing

2024

Assets$183,790
Liabilities$0
Net Assets$183,790

Operations Trend

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

$300K$200K$100K$0-$100KRevenue 2016: $217,288Expenses 2016: $155,635Net Income 2016: $61,6532016Revenue 2017: $181,490Expenses 2017: $171,322Net Income 2017: $10,1682017Revenue 2018: $31,610Expenses 2018: $114,751Net Income 2018: -$83,1412018Revenue 2019: $194,236Expenses 2019: $190,399Net Income 2019: $3,8372019Revenue 2020: $192,780Expenses 2020: $173,309Net Income 2020: $19,4712020Revenue 2021: $193,727Expenses 2021: $152,710Net Income 2021: $41,0172021Revenue 2022: $163,320Expenses 2022: $148,674Net Income 2022: $14,6462022Revenue 2023: $176,768Expenses 2023: $162,330Net Income 2023: $14,4382023Revenue 2024: $176,259Expenses 2024: $152,692Net Income 2024: $23,5672024

Highlighted filing

2024

Revenue$176,259
Expenses$152,692
Net Income$23,567

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Apr 24, 2025
Return Version
2023v6.0
Gross Receipts
$176,259
Mission and Program Overview

Mission

Seveds exists to reverse the windham regions economic decline. We envision developing the southern vermont economy to generate long-term growth and prosperity, improve the regions quality of life and sustain its quality of place.

Seveds exists to reverse the windham regions economic decline. (see schedule o)we envision developing the southern vermont economy to generate long-term growth and prosperity, improve the regions quality of life, and sustain its quality of place.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$160,495$183,790▲ $23,295
Total Assets$160,495$183,790▲ $23,295
Liabilities
Deferred Revenue$6,573$0▼ $6,573
Accounts Payable and Accrued Expenses$271$0▼ $271
Total Liabilities$6,844$0▼ $6,844
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$153,651$177,260▲ $23,609
Net Assets With Donor Restrictions-$6,530-
Total Net Assets Fund Balance$153,651$183,790▲ $30,139
Total Liabilities and Net Assets / Fund Balance$160,495$183,790▲ $23,295
Compensation and Service Providers

Board Members and Trustees

NameTitle
Wendy HarrisonChair
Meg StreeterVice-chair
Avery SchwenkDirector
Drew RichardsDirector
Kathleen McgrawDirector
Keith MarksDirector
Samba DialloDirector
Sue WestaDirector
Tom CainDirector
Mary Ann KristiansenDirector (resigned Fy24)
Peter CarvellDirector (resigned Fy24)
Bobbi KilburnDirector of Finance
Adam GrinoldExecutive Director
Bill ColvinClerk
Gary FoxTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$164,044
Program Service Revenue
$735
Investment Income
$11,480
Other Revenue
$0
All Other Contributions
$2,016
Change in Net Assets
$23,567
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$152,692
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management$124,966$8,402-$133,368
Office Expenses$6,932$466-$7,398
Fees for Services Accounting$5,327$358-$5,685
Advertising$3,989$268-$4,257
Travel$1,859$125-$1,984
Total Functional Expenses$143,073$9,619$0$152,692
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 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
No
Other officer compensation reviewed
No
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 draft of form 990 with all attachments was distributed to the directors in advance of a meeting to discuss the filings. Directors input was sought and appropriate additional disclosures and corrections were made.

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

On an annual basis, the conflict of interest / related party transaction policy is reviewed and edited for compliance, as necessary. Any / all edits are confirmed with general counsel, and then the policy is reviewed and approved by the bdcc board of trustees, including the completion of the questionnaire which is completed by staff and the board of trustees of bdcc and affiliated entities. These questionnaires are completed at least annually, or as needed, and are executed in parallel with the start of each fiscal year.

Form 990, Part VI, Section C, Line 19

Governing documents and policies are available for public inspection at the organization's office during regular business hours, upon request.

Filing and Contact Details

Filer

Filer Name
Southeastern Vermont Economic
EIN
46-2760132
Phone
8022577731
Address
76 COTTON MILL HILL, BRATTLEBORO, VT 05301

Signing Officer

Name
Wendy Harrison
Title
Chair
Phone
8022577731
Signed
2025-04-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Wendy Harrison
Formed
2012
Legal Domicile
Vt
Voting Board Members
12
Independent Board Members
11
Employees
0
Volunteers
13

Preparer

Firm
Cbiz Advisors LLC
Address
53 STATE STREET, BOSTON, MA 02109
Preparer
Kristen Cummings
Phone
6178075000
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

The following is an excerpt from note 2 of the financial statements: bdcc, bdcc holdings, and bdcc holdings ii have been recognized by the internal revenue service (irs) as exempt from federal income taxes under irc section 501(a) as organizations described in irc section 501(c)(6). Seveds has been recognized by the internal revenue service (irs) as exempt from federal income taxes under internal revenue code (irc) section 501(a) as an organization described in irc section 501(c)(3), qualifies for charitable contribution deductions, and has been determined not to be a private foundation. A return of organization exempt from income tax (form 990) is required to be filed annually by each entity with the irs. In addition, net income that is derived from business activities that are unrelated to each entity's exempt purpose is subject to income tax. Bdcc accounts for uncertain tax provisions under fasb asc 740, income taxes, which provides a framework for how entities should recognize, measure, present, and disclose uncertain tax positions in their financial statements. Bdcc may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. Management has reviewed bdcc's reporting and believes they have not taken tax positions that are more likely than not to be determined to be incorrect by the irs and, therefore, no adjustments or disclosures are required. Bdcc is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods pending or in progress.

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FOLLOWING IS AN EXCERPT FROM NOTE 2 OF THE FINANCIAL STATEMENTS: BDCC, BDCC HOLDINGS, AND BDCC HOLDINGS II HAVE BEEN RECOGNIZED BY THE INTERNAL REVENUE SERVICE (IRS) AS EXEMPT FROM FEDERAL INCOME TAXES UNDER IRC SECTION 501(A) AS ORGANIZATIONS DESCRIBED IN IRC SECTION 501(C)(6). SEVEDS HAS BEEN RECOGNIZED BY THE INTERNAL REVENUE SERVICE (IRS) AS EXEMPT FROM FEDERAL INCOME TAXES UNDER INTERNAL REVENUE CODE (IRC) SECTION 501(A) AS AN ORGANIZATION DESCRIBED IN IRC SECTION 501(C)(3), QUALIFIES FOR CHARITABLE CONTRIBUTION DEDUCTIONS, AND HAS BEEN DETERMINED NOT TO BE A PRIVATE FOUNDATION. A RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX (FORM 990) IS REQUIRED TO BE FILED ANNUALLY BY EACH ENTITY WITH THE IRS. IN ADDITION, NET INCOME THAT IS DERIVED FROM BUSINESS ACTIVITIES THAT ARE UNRELATED TO EACH ENTITY'S EXEMPT PURPOSE IS SUBJECT TO INCOME TAX. BDCC ACCOUNTS FOR UNCERTAIN TAX PROVISIONS UNDER FASB ASC 740, INCOME TAXES, WHICH PROVIDES A FRAMEWORK FOR HOW ENTITIES SHOULD RECOGNIZE, MEASURE, PRESENT, AND DISCLOSE UNCERTAIN TAX POSITIONS IN THEIR FINANCIAL STATEMENTS. BDCC MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY THE TAXING AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITION. MANAGEMENT HAS REVIEWED BDCC'S REPORTING AND BELIEVES THEY HAVE NOT TAKEN TAX POSITIONS THAT ARE MORE LIKELY THAN NOT TO BE DETERMINED TO BE INCORRECT BY THE IRS AND, THEREFORE, NO ADJUSTMENTS OR DISCLOSURES ARE REQUIRED. BDCC IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS PENDING OR IN PROGRESS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0ADAM GRINOLD
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1BOBBI KILBURN
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0EXECUTIVE DIRECTOR
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1DIRECTOR OF FINANCE
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt10
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IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0THE RELATED ORGANIZATION THAT COMPENSATES THE CEO/EXECUTIVE DIRECTOR USE THE FOLLOWING METHODS TO ESTABLISH THEIR COMPENSATION: - COMPENSATION COMMITTEE - APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 3
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A DRAFT OF FORM 990 WITH ALL ATTACHMENTS WAS DISTRIBUTED TO THE DIRECTORS IN ADVANCE OF A MEETING TO DISCUSS THE FILINGS. DIRECTORS INPUT WAS SOUGHT AND APPROPRIATE ADDITIONAL DISCLOSURES AND CORRECTIONS WERE MADE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ON AN ANNUAL BASIS, THE CONFLICT OF INTEREST / RELATED PARTY TRANSACTION POLICY IS REVIEWED AND EDITED FOR COMPLIANCE, AS NECESSARY. ANY / ALL EDITS ARE CONFIRMED WITH GENERAL COUNSEL, AND THEN THE POLICY IS REVIEWED AND APPROVED BY THE BDCC BOARD OF TRUSTEES, INCLUDING THE COMPLETION OF THE QUESTIONNAIRE WHICH IS COMPLETED BY STAFF AND THE BOARD OF TRUSTEES OF BDCC AND AFFILIATED ENTITIES. THESE QUESTIONNAIRES ARE COMPLETED AT LEAST ANNUALLY, OR AS NEEDED, AND ARE EXECUTED IN PARALLEL WITH THE START OF EACH FISCAL YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2GOVERNING DOCUMENTS AND POLICIES ARE AVAILABLE FOR PUBLIC INSPECTION AT THE ORGANIZATION'S OFFICE DURING REGULAR BUSINESS HOURS, 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 C, LINE 19
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0BRATTLEBORO DEVELOPMENT CREDIT CORP
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1BDCC REAL ESTATE HOLDINGS INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt2BDCC REAL ESTATE HOLDINGS II INC
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt1501(C)(6)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt2501(C)(6)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0VT
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd2VT
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0ECONOMIC DEVELOPMENT
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1ECONOMIC DEVELOPMENT
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt2ECONOMIC DEVELOPMENT
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt076 COTTON MILL HILL
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt176 COTTON MILL HILL
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt276 COTTON MILL HILL
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0BRATTLEBORO
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm1BRATTLEBORO
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd2VT
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd005301

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