Civic Intelligence

VMI Inc.

990 • Fiscal year 2023 • EIN 83-3843704

Jul 01, 2022 to Jun 30, 2023 • Filed on May 15, 2024

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

98th percentile

5.02x

Higher debt load relative to assets than 98% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

90th percentile

0.36x

Higher debt load relative to revenue than 90% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Net Margin

32nd percentile

-5.9%

Higher net margin than 32% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Top Officer Pay

98th percentile

$103,674

Higher top officer pay than 98% of similar nonprofits.

Top officer pay equals 23.0% of source-year revenue.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Asset Growth

9th percentile

-57%

Faster asset growth than 9% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

53rd percentile

7.0%

Faster revenue growth than 53% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Assets

Down

$32,748

Down $43,505 (-57%) from 2022

Net Assets

Down

-$131,762

Down $26,472 (-25%) from 2022

Liabilities

Down

$164,510

Down $17,033 (-9.4%) from 2022

Revenue

Up

$450,829

Up $29,604 (+7.0%) from 2022

Expenses

Up

$477,301

Up $51,779 (+12%) from 2022

Net Income

Down

-$26,472

Down $22,175 (-516%) from 2022

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

2023

Assets$32,748
Liabilities$164,510
Net Assets-$131,762

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

2023

Revenue$450,829
Expenses$477,301
Net Income-$26,472
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
May 15, 2024
Return Version
2022v5.0
Gross Receipts
$450,829
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 Degree and Certificate-based programs: comprehensive academic programs dedicated to building systemic capacity by training current and aspiring K-12 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
Loans From Officers Directors$72,943$55,810▼ $17,133
Cash and Non-Interest-Bearing Accounts$76,253$32,748▼ $43,505
Total Assets$76,253$32,748▼ $43,505
Liabilities
Other Liabilities$108,600$108,700▲ $100
Total Liabilities$181,543$164,510▼ $17,033
Net Assets / Fund Balance
Net Assets With Donor Restrictions$0$0→ $0
Net Assets Without Donor Restrictions$-105,290$-131,762▼ $26,472
Total Net Assets Fund Balance$-105,290$-131,762▼ $26,472
Total Liabilities and Net Assets / Fund Balance$76,253$32,748▼ $43,505
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Judi LairdExecutive DirectorFT$103,224$450$103,674
Karen NeeBoard member-$57,925-$57,925
Priscilla BremserBoard Secretary-$6,000-$6,000

Board Members and Trustees

NameTitle
Beth CobbBoard Chair
Paul SmithBoard member
Sheila SouleBoard member
Mary Lou GrossHonorary Non-voting Board Member
Jay MeadowsMember of VMI Board of Directors
Revenue and Support

Revenue Composition

Contributions and Grants
$2,774
Program Service Revenue
$447,975
Investment Income
$0
Other Revenue
$80
All Other Contributions
$2,774
Change in Net Assets
$-26,472
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$272,056
Other Expenses$205,245
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$205,768$32,403-$238,171
Fees for Services Other$125,984$0$0$125,984
Conferences and Meetings$64,945--$64,945
Payroll Taxes$15,879$2,456-$18,335
Other Employee Benefits$6,378$2,734-$9,112
Pension Plan Contributions$5,226$1,212-$6,438
Information Technology$3,862--$3,862
Fees for Services Management-$3,029-$3,029
Other Expenses$0$2,318$0$2,318
Insurance-$1,898-$1,898
Travel$1,285--$1,285
Advertising$360--$360
Office Expenses$344--$344
Fees for Services Accounting-$255-$255
Total Functional Expenses$430,955$46,346$0$477,301
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

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$72,943$55,810▼ $17,133
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
EID Loan$108,700
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, Part VI, Section A, Line 8B

We are a small nonprofit and a small board. There are no committees.

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

The VMI Executive Director drafts the 990. It is then circulated among the Board of Directors before submitting.

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

We receive an agenda before each meeting listing topics to be discussed. At the start of each board meeting, members are asked if there are any conflicts with any of the agenda items.

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 (UVM, 1999-2018). Compensation was reduced by 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 decided upon the compensation and benefits to be offered. The Board voted to raise the Director's salary during this reporting period to the level received in 2018.

Form 990, Part VI, Section C, Line 19

All documents are made available on 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
2024-05-15

Organization Details

Principal Officer
Judi Laird
Formed
2019
Legal Domicile
Vt
Voting Board Members
6
Independent Board Members
6
Employees
3
Volunteers
0
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Independent Contractor payments ($91,794) and Payment to Southern NH University for credits ($34,190)

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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 Degree and Certificate-based programs: comprehensive academic programs dedicated to building systemic capacity by training current and aspiring K-12 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/Desc0Income from Degree and Certificate Programs
IRS990/ProgramServiceRevenueGrp/Desc1Professional Development Workshop and Courses (non-degree granting)
IRS990/ProgramServiceRevenueGrp/Desc2Income from School based consulting services
IRS990/ProgramServiceRevenueGrp/ExclusionAmt00
IRS990/ProgramServiceRevenueGrp/ExclusionAmt10
IRS990/ProgramServiceRevenueGrp/ExclusionAmt20
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0310169
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt128553
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2109253
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0310169
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt128553
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2109253
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt10
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt20
IRS990/ProgSrvcAccomActy2Grp/Desc0The VMI conducted several professional development opportunities across the state during this reporting period. These were non-degree granting courses, workshops or inservice experiences for educators that are not part of the Masters Degree or Post-graduate certificate programs. (1) Mathematical Coherence in the Elementary Grades offered in two locations; (2) Mathematics as a Second Language also offered in two locations; (3) Discrete Mathematics for Educators; (4) An inservice workshop focused on effective mathematics instruction; and, (5) A monthly workshop session for mathematics committee leaders in a school district in Southern VT. This focused on mathematics leadership and supporting teachers as leaders in mathematics.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt031540
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt028553
IRS990/ProgSrvcAccomActy3Grp/Desc0The VMI provided professional consulting services in support of mathematics teaching and learning at the middle level in EWSD (specifically the ADL and EMS schools). This service included: >Classroom based support for teachers, >intervention work (planning, materials development, system and processes development), >PLC attendance and planning, >attending and contributing to meetings with PLC leaders and administration, >collaboration with PLC leaders. >general support as needed of middle level programs at both schools. Additionally the VMI led a team in conducting a mathematics audit for the EWSD district.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt063835
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt0109253
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt042327
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt00
IRS990/PYOtherExpensesAmt0190267
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt0378898
IRS990/PYRevenuesLessExpensesAmt0-4297
IRS990/PYSalariesCompEmpBnftPaidAmt0235255
IRS990/PYTotalExpensesAmt0425522
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0421225
IRS990/ReconcilationRevenueExpnssAmt0-26472
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RelatedOrganizationsAmt00
IRS990/RentalIncomeOrLossGrp/PersonalAmt00
IRS990/RentalIncomeOrLossGrp/RealAmt00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0310169
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus2YearsAmt00
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/First5Years509Ind0X
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt02774
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt02000
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt03000
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0868
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt08642
IRS990ScheduleA/GovtFurnSrvcFcltsVl509Grp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/GovtFurnSrvcFcltsVl509Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt00
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0449853
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0378898
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0229856
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0167823
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt01226430
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt00
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/CurrentTaxYearMinus2YearsAmt00
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/TotalAmt00
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus2YearsAmt00
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/OtherIncome509Grp/TotalAmt00
IRS990ScheduleA/Post1975UBTIGrp/CurrentTaxYearMinus2YearsAmt00
IRS990ScheduleA/Post1975UBTIGrp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/Post1975UBTIGrp/TotalAmt00
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportTotal509Amt01235072
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearAmt00
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus1YearAmt00
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus2YearsAmt00
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/CurrentTaxYearMinus2YearsAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/TotalAmt00
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0452627
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0380898
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0232856
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0168691
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/Total509Grp/TotalAmt01235072
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0452627
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0380898
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0232856
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0168691
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01235072
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0108700
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0EID Loan
IRS990ScheduleD/TotalLiabilityAmt0108700
IRS990/ScheduleJRequiredInd00
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt055810
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd01
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd00
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0start up loan
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanToOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt088000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0Mary Lou Gross
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0wife of founder, Dr. Ken Gross
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd01
IRS990ScheduleL/TotalBalanceDueAmt055810
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0We are a small nonprofit and a small board. There are no committees.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The VMI Executive Director drafts the 990. It is then circulated among the Board of Directors before submitting.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2We receive an agenda before each meeting listing topics to be discussed. At the start of each board meeting, members are asked if there are any conflicts with any of the agenda items.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The Executive Director's compensation was determined by a comparison of her compensation when VMI was part of the University of VT (UVM, 1999-2018). Compensation was reduced by 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 decided upon the compensation and benefits to be offered. The Board voted to raise the Director's salary during this reporting period to the level received in 2018.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4All documents are made available on request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Independent Contractor payments ($91,794) and Payment to Southern NH University for credits ($34,190)

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