Civic Intelligence

Franklin County Industrial Development Corporation

EIN 51-0192568 • 501(c)4 • St Albans, VT

View Organization Page

Profile

To promote development and growth of private industry in the greater St. Albans area and Franklin County as a whole

PO Box 1099St Albans, VT 05478-1099

www.fcidc.com

Siviq Scores

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

Liabilities / Assets

89th percentile

0.74x

Higher debt load relative to assets than 89% of similar nonprofits.

501(c)4 • $10M-$25M nonprofits • Source year 2023

Liabilities / Revenue

97th percentile

16.57x

Higher debt load relative to revenue than 97% of similar nonprofits.

501(c)4 • $10M-$25M nonprofits • Source year 2023

Net Margin

3rd percentile

-177%

Higher net margin than 3% of similar nonprofits.

501(c)4 • $10M-$25M nonprofits • Source year 2023

Top Officer Pay

85th percentile

$118,172

Higher top officer pay than 85% of similar nonprofits.

Top officer pay equals 15.1% of source-year revenue.

$10M-$25M nonprofits • Source year 2023

Asset Growth

7th percentile

-20%

Faster asset growth than 7% of similar nonprofits.

501(c)4 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Revenue Growth

4th percentile

-68%

Faster revenue growth than 4% of similar nonprofits.

501(c)4 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets89th percentile

Assets

Down

$9,944,243

Down $160,001 (-1.6%) from 2024

Liabilities

Down

$5,205,131

Down $166,441 (-3.1%) from 2024

Net Assets

Up

$4,739,112

Up $6,440 (+0.1%) from 2024

Operations
Liabilities / Revenue97th percentileNet Margin3rd percentile

Revenue

Down

$849,271

Down $656,915 (-44%) from 2024

Expenses

Down

$840,643

Down $601,647 (-42%) from 2024

Net Income

Down

$8,628

Down $55,268 (-86%) from 2024

Trend Graphs

Balance Sheet Trend

Asset Growth7th percentile

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

$30M$20M$10M$0Assets 2011: $14,773,521Liabilities 2011: $10,164,307Net Assets 2011: $4,609,2142011Assets 2012: $14,137,201Liabilities 2012: $9,410,587Net Assets 2012: $4,726,6142012Assets 2013: $17,274,101Liabilities 2013: $12,645,326Net Assets 2013: $4,628,7752013Assets 2014: $16,496,054Liabilities 2014: $11,714,385Net Assets 2014: $4,781,6692014Assets 2015: $15,750,409Liabilities 2015: $10,768,007Net Assets 2015: $4,982,4022015Assets 2016: $14,997,664Liabilities 2016: $9,846,101Net Assets 2016: $5,151,5632016Assets 2017: $14,993,368Liabilities 2017: $9,599,704Net Assets 2017: $5,393,6642017Assets 2018: $16,041,575Liabilities 2018: $10,529,172Net Assets 2018: $5,512,4032018Assets 2019: $19,292,056Liabilities 2019: $13,476,558Net Assets 2019: $5,815,4982019Assets 2020: $19,814,641Liabilities 2020: $13,935,843Net Assets 2020: $5,878,7982020Assets 2021: $19,059,031Liabilities 2021: $13,137,631Net Assets 2021: $5,921,4002021Assets 2022: $21,946,994Liabilities 2022: $15,927,335Net Assets 2022: $6,019,6592022Assets 2023: $17,606,975Liabilities 2023: $12,971,619Net Assets 2023: $4,635,3562023Assets 2024: $10,104,244Liabilities 2024: $5,371,572Net Assets 2024: $4,732,6722024Assets 2025: $9,944,243Liabilities 2025: $5,205,131Net Assets 2025: $4,739,1122025

Highlighted filing

2025

Assets$9,944,243
Liabilities$5,205,131
Net Assets$4,739,112
Open 2025 Filing

Operations Trend

Revenue Growth4th percentile

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

$4.0M$2.0M$0-$2.0MRevenue 2011: $1,250,955Expenses 2011: $890,703Net Income 2011: $360,2522011Expenses 2012: $1,263,1202012Expenses 2013: $1,102,6472013Revenue 2014: $1,186,747Expenses 2014: $1,053,751Net Income 2014: $132,9962014Revenue 2015: $1,177,112Expenses 2015: $966,588Net Income 2015: $210,5242015Revenue 2016: $1,254,786Expenses 2016: $1,091,747Net Income 2016: $163,0392016Revenue 2017: $2,186,801Expenses 2017: $1,944,763Net Income 2017: $242,0382017Revenue 2018: $2,276,597Expenses 2018: $2,162,519Net Income 2018: $114,0782018Revenue 2019: $2,617,873Expenses 2019: $2,313,254Net Income 2019: $304,6192019Revenue 2020: $2,373,044Expenses 2020: $2,289,910Net Income 2020: $83,1342020Revenue 2021: $2,387,417Expenses 2021: $2,195,850Net Income 2021: $191,5672021Revenue 2022: $2,481,929Expenses 2022: $2,361,646Net Income 2022: $120,2832022Revenue 2023: $783,033Expenses 2023: $2,165,766Net Income 2023: -$1,382,7332023Revenue 2024: $1,506,186Expenses 2024: $1,442,290Net Income 2024: $63,8962024Revenue 2025: $849,271Expenses 2025: $840,643Net Income 2025: $8,6282025

Highlighted filing

2025

Revenue$849,271
Expenses$840,643
Net Income$8,628
Open 2025 Filing

Filings

Most recent year

2025 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$9,944,243
Liabilities
$5,205,131
Net assets
$4,739,112
Revenue
$849,271
Expenses
$840,643
Net income
$8,628
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$9.94$5.21$4.74$0.85$0.84$0.01
2024Detailed filing. Detailed filing data is available for this year.$10.1$5.37$4.73$1.51$1.44$0.06
2023Facts available. Structured filing facts are available, but richer extracted sections are limited.$17.6$13.0$4.64$0.78$2.17$1.38
2022Detailed filing. Detailed filing data is available for this year.$21.9$15.9$6.02$2.48$2.36$0.12
2021Detailed filing. Detailed filing data is available for this year.$19.1$13.1$5.92$2.39$2.20$0.19
2020Detailed filing. Detailed filing data is available for this year.$19.8$13.9$5.88$2.37$2.29$0.08
2019Detailed filing. Detailed filing data is available for this year.$19.3$13.5$5.82$2.62$2.31$0.30
2018Detailed filing. Detailed filing data is available for this year.$16.0$10.5$5.51$2.28$2.16$0.11
2017Detailed filing. Detailed filing data is available for this year.$15.0$9.60$5.39$2.19$1.94$0.24
2016Detailed filing. Detailed filing data is available for this year.$15.0$9.85$5.15$1.25$1.09$0.16
2015Detailed filing. Detailed filing data is available for this year.$15.8$10.8$4.98$1.18$0.97$0.21
2014Detailed filing. Detailed filing data is available for this year.$16.5$11.7$4.78$1.19$1.05$0.13
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$17.3$12.6$4.63$1.10
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$14.1$9.41$4.73$1.26
2011Summary only. Only limited summary data is available for this year.$14.8$10.2$4.61$1.25$0.89$0.36
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Jun 30, 2025
Signed
Mar 14, 2026
Return Version
2024v5.2
Gross Receipts
$849,271
Mission and Program Overview

Mission

To promote development and growth of private industry in the greater St. Albans area and Franklin County as a whole

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$7,095,247$7,140,237▲ $44,990
Savings and Temporary Cash Investments$1,382,350$1,092,542▼ $289,808
Investments in Publicly Traded Securities$853,900$927,566▲ $73,666
Other Notes and Loans Receivable, Net$713,896$160,220▼ $553,676
Accounts Receivable$43,152$55,059▲ $11,907
Investments Other Securities$7,534$14,203▲ $6,669
Prepaid Expenses and Deferred Charges$4,830$8,630▲ $3,800
Cash and Non-Interest-Bearing Accounts$3,335$3,188▼ $147
Total Assets$10,104,244$9,944,243▼ $160,001
Other Assets Total-$542,598-
Liabilities
Mortgage Notes Payable Secured by Investment Property$4,959,872$4,876,955▼ $82,917
Deferred Revenue$295,000$300,000▲ $5,000
Other Liabilities$41,820--
Accounts Payable and Accrued Expenses$74,880$28,176▼ $46,704
Total Liabilities$5,371,572$5,205,131▼ $166,441
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$4,726,057$4,732,497▲ $6,440
Net Assets With Donor Restrictions$6,615$6,615→ $0
Total Net Assets Fund Balance$4,732,672$4,739,112▲ $6,440
Total Liabilities and Net Assets / Fund Balance$10,104,244$9,944,243▼ $160,001

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$4,701,936-$4,701,936
Buildings$2,006,945$203,055$2,210,000
Land$390,000-$390,000
Leasehold Improvements$41,356$42,524$83,880
Other Assets Org$453,315--
Compensation and Service Providers
Top Officer Pay85th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Timothy SmithExecutive DirectorFT$100,258$13,981$114,239
Amy KimballSecretaryFT$41,867$12,658$54,525

Board Members and Trustees

NameTitle
Mark LareauChair
Kevin ManahanVice Chair
Andrew CrossmanDirector
Carl RosenquistDirector
Coleen CondonDirector
Dean PelkeyDirector
Elizabeth GamacheDirector
Evan BranonDirector
Jess GraffDirector
John HangoDirector
Kathy LavoieDirector
Leilani KingDirector
Lisa DurocherDirector
Maureen BrownDirector
Michael O'BrienDirector
Patrick CalecasDirector
Rebecca StebbinsDirector
Leon BerthiaumeTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$245,218
Program Service Revenue
$517,757
Investment Income
$30,716
Other Revenue
$55,580
All Other Contributions
$13,750
Change in Net Assets
$8,628

Audited Revenue Reconciliation

Revenue per Audited Statements
$789,721
Revenue Not Reported on Financial Statements
$59,550
Revenue Not Reported on Form 990
$57,362
Other Revenue Adjustments
$51,806
Total Revenue per Audited Statements
$847,083
Total Revenue per Form 990
$849,271
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$605,612
Salaries, Compensation, and Employee Benefits$235,031
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$189,307$7,518-$196,825
Interest$173,769--$173,769
Current Officers, Directors, Trustees, and Key Employees-$150,595-$150,595
Depreciation Depletion$59,109$151-$59,260
Fees for Services Other$29,654$12,837-$42,491
Other Salaries and Wages$1,170$40,115-$41,285
Other Expenses$34,500$11,111-$34,500
Insurance$19,011$6,952-$25,963
Other Employee Benefits-$23,240-$23,240
Office Expenses$4,621$11,769-$16,390
Payroll Taxes-$15,644-$15,644
Fees for Services Accounting$8,484$6,318-$14,802
Travel-$11,402-$11,402
Pension Plan Contributions-$4,267-$4,267
Fees for Services Legal$3,305$331-$3,636
Advertising$212$1,654-$1,866
All Other Expenses-$687-$687
Total Functional Expenses$525,152$315,491$0$840,643

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$840,643
Total Expenses per Audited Statements$840,643
Total Expenses per Form 990$840,643
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
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal income taxes-
Accrued expenses-
Security deposit payable-
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
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, Part VI, Section B, Line 11B

“Copies of the Form 990 are forwarded to the Executive Director who then provides these copies to the governing body for review”

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

“Yes, a subcommittee of the Board of Director reviews the Executive Directors compensation”

Form 990, Part VI, Section C, Line 19

“Governing documents are available upon request”

Filing and Contact Details

Filer

Filer Name
Franklin County Industrial Development Corporation
EIN
51-0192568
Phone
8025242194
Address
PO Box 1099, St Albans, VT 05478-1099

Signing Officer

Name
Timothy Smith
Title
Officer
Phone
8025242194
Signed
2026-03-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Timothy Smith
Formed
1979
Legal Domicile
Vt
Voting Board Members
18
Independent Board Members
18
Employees
6

Preparer

Firm
Wisehart Wimette Associates PLC
Address
159 River Road, Essex Junction, VT 05452
Preparer
Kirk P Wisehart
Phone
8028791055
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 4D

“Program Service Expenses 75, Grants and allocations 0, Revenue 15,235 To provide rental space in a multi-tenant building to businesses for the purpose of promoting economic development in Franklin County.”

Form 990, Part XI, Line 9

“51,806 Loss from investment in entity for the year ending 6/30/25”

Financial Statement Notes

X 2

“The Organization is a non-profit organization exempt from income taxes under Section 501C4 of the Internal Revenue Code and none of its present or anticipated future activities are subject to taxation as unrelated business income therefore no provision for income taxes has been made in the accompanying financial statements. The Organization believes it has taken no uncertain tax positions that could have an effect on its financial statements.”

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IRS990/Form990PartVIISectionAGrp/PersonNm0Timothy Smith
IRS990/Form990PartVIISectionAGrp/PersonNm1Amy Kimball
IRS990/Form990PartVIISectionAGrp/PersonNm2Mark Lareau
IRS990/Form990PartVIISectionAGrp/PersonNm3Kevin Manahan
IRS990/Form990PartVIISectionAGrp/PersonNm4Leon Berthiaume
IRS990/Form990PartVIISectionAGrp/PersonNm5Maureen Brown
IRS990/Form990PartVIISectionAGrp/PersonNm6Patrick Calecas
IRS990/Form990PartVIISectionAGrp/PersonNm7Kathy Lavoie
IRS990/Form990PartVIISectionAGrp/PersonNm8Michael O'Brien
IRS990/Form990PartVIISectionAGrp/PersonNm9Dean Pelkey
IRS990/Form990PartVIISectionAGrp/PersonNm10Rebecca Stebbins
IRS990/Form990PartVIISectionAGrp/PersonNm11Carl Rosenquist
IRS990/Form990PartVIISectionAGrp/PersonNm12Coleen Condon
IRS990/Form990PartVIISectionAGrp/PersonNm13Elizabeth Gamache
IRS990/Form990PartVIISectionAGrp/PersonNm14Jess Graff
IRS990/Form990PartVIISectionAGrp/PersonNm15Andrew Crossman
IRS990/Form990PartVIISectionAGrp/PersonNm16Evan Branon
IRS990/Form990PartVIISectionAGrp/PersonNm17Lisa Durocher
IRS990/Form990PartVIISectionAGrp/PersonNm18Leilani King
IRS990/Form990PartVIISectionAGrp/PersonNm19John Hango
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IRS990/Form990PartVIISectionAGrp/TitleTxt0Executive Director
IRS990/Form990PartVIISectionAGrp/TitleTxt1Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt2Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt3Vice Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt4Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt5Director
IRS990/Form990PartVIISectionAGrp/TitleTxt6Director
IRS990/Form990PartVIISectionAGrp/TitleTxt7Director
IRS990/Form990PartVIISectionAGrp/TitleTxt8Director
IRS990/Form990PartVIISectionAGrp/TitleTxt9Director
IRS990/Form990PartVIISectionAGrp/TitleTxt10Director
IRS990/Form990PartVIISectionAGrp/TitleTxt11Director
IRS990/Form990PartVIISectionAGrp/TitleTxt12Director
IRS990/Form990PartVIISectionAGrp/TitleTxt13Director
IRS990/Form990PartVIISectionAGrp/TitleTxt14Director
IRS990/Form990PartVIISectionAGrp/TitleTxt15Director
IRS990/Form990PartVIISectionAGrp/TitleTxt16Director
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IRS990/ProgSrvcAccomActy2Grp/Desc0To provide loans to area businesses and municipalities for acquisition and expansion purposes to provide revolving loans for the creation of employment opportunities and/or the maintenance of existing jobs, particularly for the benefit of low income persons, displaced farm families and farm families needing to supplement their income. These funds are to be used for the purchase or expansion of land, buildings, machinery or equipment, start-up costs, feasibility studies or other working capital.
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IRS990/ProgSrvcAccomActy3Grp/Desc0To provide loans to area businesses and municipalities for acquisition and expansion purposes.
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