Civic Intelligence

VMI Inc.

990 • Fiscal year 2021 • EIN 83-3843704

Jul 01, 2020 to Jun 30, 2021 • Filed on May 16, 2022

416 Washburn RdEast Burke, VT 05832

(802) 274-0436

Siviq Scores

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

Liabilities / Assets

97th percentile

1.74x

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

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Liabilities / Revenue

94th percentile

0.87x

Higher debt load relative to revenue than 94% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Net Margin

27th percentile

-6.9%

Higher net margin than 27% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Top Officer Pay

98th percentile

$98,008

Higher top officer pay than 98% of similar nonprofits.

Top officer pay equals 35.8% of source-year revenue.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Asset Growth

93rd percentile

156%

Faster asset growth than 93% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Revenue Growth

79th percentile

62%

Faster revenue growth than 79% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Assets

Up

$135,934

Up $82,930 (+156%) from 2020

Net Assets

Down

-$100,993

Down $18,962 (-23%) from 2020

Liabilities

Up

$236,927

Up $101,892 (+75%) from 2020

Revenue

Up

$273,870

Up $105,179 (+62%) from 2020

Expenses

Up

$292,832

Up $37,857 (+15%) from 2020

Net Income

Up

-$18,962

Up $67,322 (+78%) from 2020

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$300K$200K$100K$0-$100K-$200KAssets 2020: $53,004Liabilities 2020: $135,035Net Assets 2020: -$82,0312020Assets 2021: $135,934Liabilities 2021: $236,927Net Assets 2021: -$100,9932021Assets 2022: $76,253Liabilities 2022: $181,543Net Assets 2022: -$105,2902022Assets 2023: $32,748Liabilities 2023: $164,510Net Assets 2023: -$131,7622023Assets 2024: $35,462Liabilities 2024: $154,903Net Assets 2024: -$119,4412024

Highlighted filing

2021

Assets$135,934
Liabilities$236,927
Net Assets-$100,993

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$600K$400K$200K$0-$200KRevenue 2020: $168,691Expenses 2020: $254,975Net Income 2020: -$86,2842020Revenue 2021: $273,870Expenses 2021: $292,832Net Income 2021: -$18,9622021Revenue 2022: $421,225Expenses 2022: $425,522Net Income 2022: -$4,2972022Revenue 2023: $450,829Expenses 2023: $477,301Net Income 2023: -$26,4722023Revenue 2024: $531,254Expenses 2024: $518,933Net Income 2024: $12,3212024

Highlighted filing

2021

Revenue$273,870
Expenses$292,832
Net Income-$18,962
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 16, 2022
Return Version
2020v4.0
Gross Receipts
$273,870
Mission and Program Overview

Mission

The VMI, Inc is a mathematics education professional development organization dedicated to improving mathematics teaching and learning through a variety of initiatives, including (a) The Certificate and Degree Programs - in partnership with Southern New Hampshire University. These are comprehensive programs dedicated to building systemic capacity by training current and aspiring mathematics teacher leaders; (b) Outreach and contribution to statewide initiatives in Vermont; (c) Targeted mathematics education support to schools and districts; (d) A variety of recertification courses designed specifically for mathematics teachers. VMI works in partnership with Southern New Hampshire University (SNHU) for its credit bearing courses and degree granting programs.

The VMI, Inc is a mathematics education professional development organization dedicated to improving mathematics teaching and learning through a variety of initiatives, including (a) The VMI Masters Program - a comprehensive program dedicated to building systemic capacity by training current and aspiring K-8 mathematics teacher leaders; (b) Outreach and contribution to statewide initiatives in Vermont; (c) Targeted mathematics education support to schools and districts; (d) A variety of recertification courses designed specifically for mathematics teachers. VMI works in partnership with Southern New Hampshire University (SNHU) for its credit bearing and degree granting programs.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$53,004$135,934▲ $82,930
Loans From Officers Directors$88,000$88,000→ $0
Total Assets$53,004$135,934▲ $82,930
Liabilities
Other Liabilities$47,035$148,927▲ $101,892
Total Liabilities$135,035$236,927▲ $101,892
Net Assets / Fund Balance
Net Assets With Donor Restrictions$0$0→ $0
Net Assets Without Donor Restrictions$-82,031$-100,993▼ $18,962
Total Net Assets Fund Balance$-82,031$-100,993▼ $18,962
Total Liabilities and Net Assets / Fund Balance$53,004$135,934▲ $82,930
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Judi LairdExecutive DirectorFT$98,008$98,008
Karen NeeBoard member-$1,150$1,150

Board Members and Trustees

NameTitle
Beth CobbBoard Chair
Paul SmithBoard member
Priscilla BremserBoard Secretary
Mary Lou GrossHonorary Non-voting Board Member
Revenue and Support

Revenue Composition

Contributions and Grants
$50,035
Program Service Revenue
$223,835
Investment Income
$0
Other Revenue
$0
All Other Contributions
$3,000
Change in Net Assets
$-18,962
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$214,690
Other Expenses$78,142
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$166,541$24,502-$191,043
Fees for Services Other$65,788--$65,788
Payroll Taxes$13,189$1,902-$15,091
Other Employee Benefits$6,943$1,613-$8,556
Information Technology$5,299--$5,299
Fees for Services Management-$2,207-$2,207
Insurance-$1,283-$1,283
Fees for Services Legal-$1,113-$1,113
Conferences and Meetings$371--$371
Fees for Services Accounting-$368-$368
Office Expenses$337--$337
Other Expenses$0$38-$38
Total Functional Expenses$259,806$33,026$0$292,832
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Mary Lou Grosswife of founder, honorary non-voting board memberstart up loan to organizationNo$88,000

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$88,000$88,000→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
EID Loan$108,600
Paycheck Protection Program Loan round 2$40,327
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
Yes
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 A, Line 8B

There are no committees authorized to act on behalf of the governing body.

Form 990, Part VI, Section B, Line 11B

The VMI Executive Director drafted the form 990. It was then circulated among the board of directors before submitting.

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

Before every meeting, an agenda is shared. At the start of every meeting, members are asked if any of the issues to be discussed involve a conflict of interest as defined by our conflict of interest policy.

Form 990, Part VI, Section B, Line 15

The Executive Director's compensation was determined by a comparison of her compensation when VMI was part of the University of VT (1999-2018). Compensation was reduced 10% from that amount. Compensation was also compared to other Executive Director salaries in relevant areas--nonprofit educational entities. The VMI Board of Directors discussed these figures in executive session and arose at the compensation and benefits to be offered. This process occurred in 2019 and compensation has remained the same throughout that two year period.

Form 990, Part VI, Section C, Line 19

All documents are made available upon request.

Filing and Contact Details

Filer

Filer Name
Vmi Inc
EIN
83-3843704
Phone
8022740436
Address
416 Washburn Rd, East Burke, VT 05832
Doing Business As
Vermont Mathematics Initiative

Signing Officer

Name
Judi Laird
Title
Executive Director
Phone
8022740436
Signed
2022-05-16

Organization Details

Principal Officer
Judi Laird
Formed
2019
Legal Domicile
Vt
Voting Board Members
4
Independent Board Members
4
Employees
3
Volunteers
0
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 3

Due to COVID challenges and state laws associated with COVID, all VMI's services moved to an online format, and some were postponed or cancelled.

Form 990, Part IX, Line 11G

Independent Contractor (1099) Payments ($45,868) and payment to Southern New Hampshire University for purchase of credits ($19,920)

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IRS990/Desc0The VMI, in partnership with Southern New Hampshire University (SNHU), enrolled 22 educators into its newest Master's Degree cohort which started September, 2020. These 23 educators represent 16 VT educators from all geographic regions across Vermont and 7 educators from the Manchester, New Hampshire area. During this reporting period, this cohort completed 2 of the 12 courses necessary to receive their Master's Degree through SNHU. This cohort joined a cohort of 36 educators already in their second year of the three year program. Both cohorts were impacted by interruptions caused by the Coronavirus pandemic. In March 2020, all instruction moved to a remote delivery and continues remote until Fall 2021. The newest cohort was delayed two months in starting the program.
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IRS990/MissionDesc0The VMI, Inc is a mathematics education professional development organization dedicated to improving mathematics teaching and learning through a variety of initiatives, including (a) The VMI Masters Program - a comprehensive program dedicated to building systemic capacity by training current and aspiring K-8 mathematics teacher leaders; (b) Outreach and contribution to statewide initiatives in Vermont; (c) Targeted mathematics education support to schools and districts; (d) A variety of recertification courses designed specifically for mathematics teachers. VMI works in partnership with Southern New Hampshire University (SNHU) for its credit bearing and degree granting programs.
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IRS990/ProgramServiceRevenueGrp/Desc1Professional Development Offerings
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IRS990/ProgSrvcAccomActy2Grp/Desc0The VMI offered two professional development, non-degree granting courses for educators. One newly developed offering entitled Introduction to Cryptography was piloted (remotely) during June 2021, and enrolled 9 Vermont educators. A second course, Advanced Probability, was offered during July 2020 and enrolled 6 educators. Both offerings were held remotely, in partnership with Southern NH University, and participants received 3 graduate credits.
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IRS990/ProgSrvcAccomActy3Grp/Desc0The VMI partnered with the School Administrative Unit #16 in Exeter, NH to provide professional consulting to that districts area schools. This included workshops and classroom based coaching (remotely) for all teachers K-8 in the district.
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IRS990/PYTotalExpensesAmt0254975
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0168691
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-18962
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
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IRS990/RentalIncomeOrLossGrp/PersonalAmt00
IRS990/RentalIncomeOrLossGrp/RealAmt00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0180086
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IRS990ScheduleA/First5Years509Ind0X
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt03000
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt0868
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt03868
IRS990ScheduleA/GovtFurnSrvcFcltsVl509Grp/CurrentTaxYearMinus1YearAmt00
IRS990ScheduleA/GovtFurnSrvcFcltsVl509Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt00
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0229856
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0167823
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt0397679
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/CurrentTaxYearMinus1YearAmt00
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt00
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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt00
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/CurrentTaxYearAmt00
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IRS990ScheduleA/NetIncomeFromOtherUBIGrp/TotalAmt00
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearAmt00
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IRS990ScheduleA/Post1975UBTIGrp/CurrentTaxYearAmt00
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IRS990ScheduleA/Post1975UBTIGrp/TotalAmt00
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportTotal509Amt0401547
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearAmt00
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IRS990ScheduleA/SubstantialContributorsAmtGrp/CurrentTaxYearAmt00
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IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0168691
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt00
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IRS990ScheduleA/Total509Grp/TotalAmt0401547
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0232856
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0168691
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt00
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt00
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IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0401547
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0108600
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt140327
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0EID Loan
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Paycheck Protection Program Loan round 2
IRS990ScheduleD/TotalLiabilityAmt0148927
IRS990/ScheduleJRequiredInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0Mary Lou Gross
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0wife of founder, honorary non-voting board member
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt088000
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0start up loan to organization
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt088000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd01
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd00
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0Start up funding
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanToOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt088000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0Mary Lou Gross
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0wife of founder; non-voting, honorary board member
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd01
IRS990ScheduleL/TotalBalanceDueAmt088000
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Due to COVID challenges and state laws associated with COVID, all VMI's services moved to an online format, and some were postponed or cancelled.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1There are no committees authorized to act on behalf of the governing body.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The VMI Executive Director drafted the form 990. It was then circulated among the board of directors before submitting.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Before every meeting, an agenda is shared. At the start of every meeting, members are asked if any of the issues to be discussed involve a conflict of interest as defined by our conflict of interest policy.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The Executive Director's compensation was determined by a comparison of her compensation when VMI was part of the University of VT (1999-2018). Compensation was reduced 10% from that amount. Compensation was also compared to other Executive Director salaries in relevant areas--nonprofit educational entities. The VMI Board of Directors discussed these figures in executive session and arose at the compensation and benefits to be offered. This process occurred in 2019 and compensation has remained the same throughout that two year period.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5All documents are made available upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Independent Contractor (1099) Payments ($45,868) and payment to Southern New Hampshire University for purchase of credits ($19,920)
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part III, Line 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section A, Line 8b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section B, Line 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Section C, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part IX, Line 11g
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd01
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0VT
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt053004
IRS990/TotalAssetsEOYAmt0135934
IRS990/TotalAssetsGrp/BOYAmt053004
IRS990/TotalAssetsGrp/EOYAmt0135934
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IRS990/TotalContributionsAmt050035
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt033026

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