Springfield Regional Development Corporation EIN 03-0333399

Springfield Regional Development Corporation

EIN  03-0333399 Business league / trade association Springfield, VT
Form 990 (PDF) Compare with another nonprofit →
Verified accurate 8/28/26 · see original filing: IRS
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Size
$1–10M
What they do
Attracts new jobs and industry, revitalizing old factories.
Leadership
Robert Flint · Executive Director · $98K
Money in and out
$3.3M revenue, $3.2M expenses
Bottom line
+1% operating surplus

Attracts new jobs and industry, revitalizing old factories. For fiscal year 2025 it reported $3.3M in revenue, $3.2M in expenses, and $955K in net assets.Pt I

Membership & operating revenue · FY2025
Total revenue
$3.3M
Pt VIII · Ln 12
Total expenses
$3.2M
Pt IX · Ln 25
Net assets
$955K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $30K
Where spending went · Part IX cols B–D
Program services $0.99 Management & general $0.01
Operating surplus
+1%
revenue over expenses▼ -93% vs prior filing year
Earned revenue
1%
of revenue from program services & dues▼ -87% vs prior filing year
Payroll share
12%
of spending is salaries & benefits▼ -84% vs prior filing year

Summary of the Filing

Part I · fiscal year 2025 · Form 990
Revenue
$3.3M
FY2025▲ +541%
Expenses
$3.2M
FY2025▲ +626%
Total assets
$3.1M
FY2025▼ -17%
Total liabilities
$2.1M
FY2025▼ -24%
Total revenue
$3.3M
Pt VIII · Ln 12
Total expenses
$3.2M
Pt IX · Ln 25
Net assets
$955K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$30K
Total assetsPt X · Ln 16$3.1M
Program-expense ratioPt IX · col B99%
Voting members of governing bodyPt I · Ln 38
Independent voting membersPt I · Ln 48
Mission & Programs · Part III

Where the work happens

1 program service, described in the organization's own filed words · FY2024.
01

To coordinate public and private efforts to bring new jobs and industry to the region; to rehabilitate former manufacturing facilities and put them back into service.

Pt IX · col B

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CSpringfield Regional Development Corporation
EINHdr · item D03-0333399
Principal addressHdr · item CSpringfield, VT
WebsiteHdr · item Jwww.springfielddevelopment.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MVT
Exempt statusHdr · item I501(c)(6) · active
NTEE classificationIRS BMFCommunity Development (S30Z)
Ruling yearIRS BMFSep 1993

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a8
Independent voting membersPt VI · Ln 1b8
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
Executive Director
$98,074Pt VII · Sec A
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
Secretary/Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
President
$0Pt VII · Sec A

Robert Flint’s $98K as Executive Director is at the 18th percentile of top reported officer pay among 2834 $1–10M community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Robert Flint$98,074$100,769$96,242$94,040$91,138$85,013

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Statement of Revenue

Part VIII
Contributions & grants$2.6M · 79%
Other revenue$620K · 19%
Program service revenue$44K · 1%
Investment income$27K · 1%
Contributions & grants79%$2.6M
Other revenue19%$620K
Program service revenue1%$44K
Investment income1%$27K
— government grantsLn 1e$2.5M
Total revenueLn 12$3.3M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.99 Management & general $0.01
Program services99%$3.2M
Management & general1%$44K
Total functional expensesLn 25$3.2M

Balance Sheet

Part X · end of year
CashLn 1$1.1M
Total assetsLn 16$3.1M
Total liabilitiesLn 26$2.1M
Total net assetsLn 32$955K
Months of cash on handcomputed4.0

Financial Metrics

Form 990 · FY2025 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $1.1M · Operating expenses/yr $3.2M
4.0 months
Where the money goes
Program services
Program services $3.2M · Total expenses $3.2M
99%
Management & General
Management & general $44K · Total expenses $3.2M
1%
Fundraising
Fundraising $0 · Total expenses $3.2M
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $32K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $2.6M · Total revenue $3.3M
79%
Government reliance
Government grants $2.5M · Total revenue $3.3M
78%
Earned-income share
Program service revenue $44K · Total revenue $3.3M
1%
Investment reliance
Investment income $27K · Total revenue $3.3M
+1%
Program self-sufficiency
Program service revenue $44K · Total expenses $3.2M
1%
Growth & trend
Revenue growth (YoY)
This year $3.3M · Prior year $511K
+541%
Revenue CAGR
FY2019 $422K · FY2024 $3.3M
+51%
Net-asset trend (YoY)
End of year $955K · Beginning of year $925K
+3%
Balance sheet
Surplus Margin
Revenue $3.3M · Expenses $3.2M
+1%
Liabilities-to-Assets
Total liabilities $2.1M · Total assets $3.1M
69%
Net-asset ratio
Net assets $955K · Total assets $3.1M
31%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $3.1M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Robert Flint · Reported title Executive Director · Highest reported compensation $98K · Total expenses $3.2M
3%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $387K · Total expenses $3.2M
12%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 99%
Overhead ratio 1%
Fundraising cost ratio 0%
Revenue growth 541%
Legal fee ratio 0%
Accounting fee ratio 0%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2020
Total grants receivedfrom 1 funder$25K

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025 (Latest)$3.3M revenue · viewing · ⤓ 990 PDF
FY2024$511K revenue · ⤓ 990 PDF
FY2023$442K revenue · ⤓ 990 PDF
FY2022$1.3M revenue · ⤓ 990 PDF
FY2021$449K revenue · ⤓ 990 PDF
FY2020$422K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2025IRS
Classification, formation year, addressIRS Business Master File
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