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Vermont Center for Emerging Technologies INC EIN 30-0275435

Vermont Center for Emerging Technologies INC FY2020 filing

EIN  30-0275435 Public charity (501(c)(3)) Burlington, VT
Form 990 (PDF)
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →
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Size
$1–10M
What they do
Accelerates innovation and entrepreneurship through mentoring, facilities, and seed funding.
Leadership
David Bradbury · President · $193K
Money in and out
$253K revenue, $674K expenses
Bottom line
79% program efficiency

Accelerates innovation and entrepreneurship through mentoring, facilities, and seed funding. For fiscal year 2020 it reported $253K in revenue, $674K in expenses, and $3.5M in net assets.Pt I

Where the money goes · FY2020
Total revenue
$253K
Pt VIII · Ln 12
Total expenses
$674K
Pt IX · Ln 25
Net assets
$3.5M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$421K
Where spending went · Part IX cols B–D
Program services $0.79 Management & general $0.16 Fundraising $0.05
Program efficiency
79%
of spending reaches programs
Operating runway
10.9mo
months of highly liquid reserves at operating expense rate
Surplus margin
-166%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2020 · Form 990
Revenue
$253K
FY2020
Expenses
$674K
FY2020
Total assets
$3.5M
FY2020
Total liabilities
$81K
FY2020
Total revenue
$253K
Pt VIII · Ln 12
Total expenses
$674K
Pt IX · Ln 25
Net assets
$3.5M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$421K
Total assetsPt X · Ln 16$3.5M
Program-expense ratioPt IX · col B79%
Voting members of governing bodyPt I · Ln 310
Independent voting membersPt I · Ln 410
Mission & Programs · Part III

Where the work happens

1 program service account for $533K of program spending, described in the organization's own filed words · FY2019.
01

Vcet has worked with over 2,400 start-ups and entrepreneurs, now operates 2 coworking facilities serving over 240 members, curates an expert mentor network and makes direct investments from a 5m revolving seed capital fund.

$533Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CVermont Center for Emerging Technologies INC
EINHdr · item D30-0275435
Principal addressHdr · item CBurlington, VT
WebsiteHdr · item Jwww.vcet.co
Year of formationHdr · item Lpending
State of legal domicileHdr · item MVT
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFCommunity Development (S43)
Ruling yearIRS BMFJul 2005

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a10
Independent voting membersPt VI · Ln 1b10
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
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 (FY2019); the FY2020 filing did not itemize Part VII
$192,781Pt VII · Sec A
$0Pt VII · Sec A
Briar Alpert
Vice Chair
$0Pt VII · Sec A
John Evans
Sec. & Treas
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Michael Lane
Director
$0Pt VII · Sec A
Scott Bailey
Director
$0Pt VII · Sec A

David Bradbury’s $268K as President is at the 82nd 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 · 2 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021FY2020
David Bradbury$267,633$254,500$226,116$217,037$207,586$192,781
Samantha Roach-Gerber$103,095$117,955$105,200$94,100$87,333—

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
Program service revenue$363K · 143%
Contributions & grants$223K · 88%
Program service revenue143%$363K
Contributions & grants88%$223K
— government grantsLn 1e$208K
Total revenueLn 12$253K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.79 Management & general $0.16 Fundraising $0.05
Program services79%$533K
Management & general16%$107K
Fundraising5%$33K
Total functional expensesLn 25$674K

Balance Sheet

Part X · end of year
CashLn 1$609K
Total assetsLn 16$3.5M
Total liabilitiesLn 26$81K
Total net assetsLn 32$3.5M
Months of cash on handcomputed10.8

Financial Metrics

Form 990 · FY2020 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $610K · Operating expenses/yr $674K
10.9 months
Where the money goes
Program services
Program services $533K · Total expenses $674K
79%
Management & General
Management & general $107K · Total expenses $674K
16%
Fundraising
Fundraising $33K · Total expenses $674K
5%
Cost to raise $1
Fundraising expense $33K · Solicited contributions $15K
$2.28 to raise $1
Where the money comes from
Contribution dependence
Contributions & grants $223K · Total revenue $253K
88%
Government reliance
Government grants $208K · Total revenue $253K
82%
Earned-income share
Program service revenue $363K · Total revenue $253K
143%
Investment reliance
Investment income $-333K · Total revenue $253K
-131%
Program self-sufficiency
Program service revenue $363K · Total expenses $674K
54%
Growth & trend
Revenue growth (YoY)
This year $253K · Prior year —
No prior year on file
Net-asset trend (YoY)
End of year $3.5M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $253K · Expenses $674K
-166%
Liabilities-to-Assets
Total liabilities — · Total assets $3.5M
—
Net-asset ratio
Net assets $3.5M · Total assets $3.5M
98%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) $1K · Total assets (Pt X, ln 16) $3.5M
0%
People & payroll
Highest Reported Total Compensation
Individual David Bradbury · Reported title PRESIDENT · Highest reported compensation $193K · Total expenses $674K
29%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $421K · Total expenses $674K
62%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 79%——
Overhead ratio 16%——
Fundraising cost ratio 15%——
Accounting fee ratio 4%——

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 · FY2024
Fidelity Investments Charitable Gift FundFY2024$6K
Total grants receivedfrom 1 funder$6K

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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
FY2024$1.5M revenue · ⤓ 990 PDF
FY2023$654K revenue · ⤓ 990 PDF
FY2022$1.5M revenue · ⤓ 990 PDF
FY2021$948K revenue · ⤓ 990 PDF
FY2020$253K revenue · viewing · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2020IRS
Classification, formation year, addressIRS Business Master File
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