Bellows Falls Area Development Corporation FY2021 filing

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To create opportunities for, and maintain an environment of viable and sustainable economic health throughout the community. To support and promote policies that will foster linked and collaborative initiatives that leverage resources to ensure appropriate Development that meets the needs of the overall community and region.

501(c)(6) business league; gifts are not tax-deductible as charitable contributions.
100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(6)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average deficit $939 a year · 8% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
75 mo
of spending, in cash
Looks good: 75.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$140K
22% of total assets
Looks good: liabilities are 22% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 8 voting members
Looks good: 9 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$3K
-93% vs prior year
Spent
$8K
To programs
100%
Net assets
$506K
By yearFY2020–FY2024
Revenue
$3K
FY2021▼ -93%
Tap a bar for its year
Revenue by fiscal year
FY2020$39K
FY2021$3K
FY2022$0
FY2023$0
FY2024$14K
Expenses
$8K
FY2021▼ -78%
Tap a bar for its year
Expenses by fiscal year
FY2020$34K
FY2021$8K
FY2022$7K
FY2023$6K
FY2024$5K
Net assets
$506K
FY2021▼ -1.0%
Tap a bar for its year
Net assets by fiscal year
FY2020$511K
FY2021$506K
FY2022$499K
FY2023$493K
FY2024$502K

From the FY2021 Form 990 (year ending September 2021) · see the original

990 PDF Claim
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Dec 1966.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $8K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

8 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
$0Pt VII · Sec A
Executive Dir.
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Bellows Falls Area Development Corporation executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Fosters economic health and development through collaborative initiatives and supportive policies.

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1 program · in their own filed words · FY2020
01

Archeological exploration (trenches) to assess likelihood of indigenous burial shafts AND/OR artifacts, asbestos remediation, hazardous waste contents removal and disposal action, building demolition and salvage, petroleum remediation, soil remediation and cap, final environmental reports and marketing for tenants at a 1.67 acre…

Pt IX · col B

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$3K
Ln 12
Gifts and grantsLn 1h$3K
Money outPt IX
$8K
Ln 25
Programscol B$8K
Owns and owesPt X
$506K
net assets · Ln 32
Cash and savingsLn 1–2$48K
Total assetsLn 16$646K
LiabilitiesLn 26$140K
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a8
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$3K
Government grantsLn 1e$3K
Gains on assetsLn 7$0
Total revenueLn 12$3K
Assets in detailPt X, end of year
CashLn 1$48K
SavingsLn 2$0
Cash and savings togetherLn 1–2$48K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$598K
Other assetsLn 15$0
Total assetsLn 16$646K
LiabilitiesLn 26$140K
Net assetsLn 32$506K
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderSeptember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$53K$48K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$598K$598K
Total assetsLn 16$651K$646K
LiabilitiesLn 26$140K$140K
Net assetsLn 32$511K$506K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$0
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$0
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$0
Payroll taxesLn 10$0
Management feesLn 11a$0
Legal feesLn 11b$0
Accounting feesLn 11c$2K$2K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$0
Advertising and promotionLn 12$0
Office expensesLn 13$0
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$0
TravelLn 17$0
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$0
InsuranceLn 23$3K$3K
Other expenses (24a–d)Ln 24$3K$3K
All other expensesLn 24e$0
Total functional expensesLn 25$8K$8K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $14K$5K$9K$502K 990 PDF
FY2023 $0$6K−$6K$493K 990 PDF
FY2022 $0$7K−$7K$499K 990 PDF
FY2021 Viewing $3K$8K−$5K$506K 990 PDF
FY2020 $39K$34K$4K$511K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $2,615 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $38,872$2,615
I-9 Program service revenue$0
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenuePrior year $38,872$2,615
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $34,430$7,662
I-18 Total expensesPrior year $34,430$7,662
I-19 Revenue less expensesPrior year $4,442−$5,047
Part VI · Governance 9 of 8 board members independent, 3 to look at
VI-1a Voting members of the governing body8
VI-1b Independent voting members9
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $2,615 across 8 lines filed
VIII-1e Government grants$2,615
VIII-1h Total contributions, gifts and grants$2,615
VIII-3 Investment income$0
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising events$0
VIII-12 Total revenue$2,615
Part IX · Statement of functional expenses $7,662 across 31 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staff$0
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wages$0
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxes$0
IX-11a Management fees$0
IX-11b Legal fees$0
IX-11c Accounting feesPrograms $2,410$2,410
IX-11d Lobbying fees$0
IX-11f Investment management fees$0
IX-12 Advertising and promotion$0
IX-13 Office expenses$0
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 Occupancy$0
IX-17 Travel$0
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortization$0
IX-23 InsurancePrograms $2,612$2,612
IX-24 Other expenses (24a–d)Programs $2,640$2,640
IX-24e All other expenses$0
IX-25 Total functional expensesPrograms $7,662 · Management $0 · Fundraising $0$7,662
Part X · Balance sheet $646,371 assets, 16 lines filed
X-1 Cash, non-interest-bearingStart of year $53,040$47,993
X-2 Savings and temporary cash investments$0
X-3 Pledges and grants receivable$0
X-4 Accounts receivable$0
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred charges$0
X-10c Land, buildings and equipment, netStart of year $598,378$598,378
X-11 Publicly traded securities$0
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assets$0
X-16 Total assetsStart of year $651,418$646,371
X-26 Total liabilitiesStart of year $140,000$140,000
X-32 Total net assets or fund balancesStart of year $511,418$506,371
X-33 Total liabilities and net assetsStart of year $651,418$646,371
Part XI · Reconciliation of net assets $506,371 net assets at year end
XI-1 Total revenue$2,615
XI-2 Total expenses$7,662
XI-3 Revenue less expenses−$5,047
XI-4 Net assets at start of year$511,418
XI-10 Net assets at end of year$506,371

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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