VMI INC EIN 83-3843704

VMI INC

EIN  83-3843704 Public charity (501(c)(3)) East Burke, VT Founded 2019
Form 990 (PDF) Compare with another nonprofit →
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Size
$100K–1M
What they do
Improves math teaching and learning by training K-12 teacher leaders and supporting schools statewide.
Leadership
Judi Laird · Executive Director · $86K
Money in and out
$510K revenue, $504K expenses
Bottom line
89% program efficiency

Improves math teaching and learning by training K-12 teacher leaders and supporting schools statewide. For fiscal year 2024 it reported $510K in revenue, $504K in expenses, and $-128K in net assets.Pt I

Where the money goes · FY2024
Total revenue
$510K
Pt VIII · Ln 12
Total expenses
$504K
Pt IX · Ln 25
Net assets
$-128K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $6K
Where spending went · Part IX cols B–D
Program services $0.89 Management & general $0.11
Program efficiency
89%
of spending reaches programs▼ -4% vs prior filing year
Operating runway
0.5mo
months of highly liquid reserves at operating expense rate▼ -38% vs prior filing year
Surplus margin
+1%
revenue over expenses, this year▼ -52% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$510K
FY2024▼ -4%
Expenses
$504K
FY2024▼ -3%
Total assets
$25K
FY2024▼ -29%
Total liabilities
$153K
FY2024▼ -1%
Total revenue
$510K
Pt VIII · Ln 12
Total expenses
$504K
Pt IX · Ln 25
Net assets
$-128K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$6K
Total assetsPt X · Ln 16$25K
Program-expense ratioPt IX · col B89%
Voting members of governing bodyPt I · Ln 36
Independent voting membersPt I · Ln 46
Mission & Programs · Part III

Where the work happens

3 program services account for $449K of program spending, described in the organization's own filed words · FY2024.
01

The VMI, in partnership with Vermont State University (VTSU): (1) had 39 students enrolled in the Master's Degree program, split between 2 cohorts. One cohort of 28 participants completed their second year (of three). A cohort of 11 educators completed their first year of the program.

$402Kprogram expense
02

The VMI conducted one remote professional development experience across the state during this reporting period. This was a course for re-licensing purposes (non-degree). Other courses within the degree programs were made available for those not seeking a degree but who needed credits for relicensing: (1) Mathematics as a Second Language…

$38Kprogram expense
03

The VMI provided professional consulting services in support of mathematics teaching and learning for SAU 36, local school administrative unit in Whitefield, NH. A second endeavor supports a statewide initiative aimed at recruiting and retaining licensed math teachers.

$10Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CVMI INC
EINHdr · item D83-3843704
Principal addressHdr · item CEast Burke, VT
WebsiteHdr · item Jwww.vmimathematics.com
Year of formationHdr · item L2019
State of legal domicileHdr · item MVT
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEducation (B90)
Ruling yearIRS BMFMar 2020

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a6
Independent voting membersPt VI · Ln 1b6
Conflict-of-interest policyPt VI · Ln 12aYes
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
Executive Director
$85,554Pt VII · Sec A
Board Secretary
$6,000Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Chair
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Honorary Non-Voting Board Member
$0Pt VII · Sec A
Member of VMI Board of Directors
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Judi Laird’s $86K as Executive Director is at the 76th percentile of top reported officer pay among 1616 $100K–1M education 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 · 3 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021FY2020
Judi Laird$85,554$103,508$103,224$100,977$98,008$98,000
Karen Nee$13,400$57,925$27,325$1,150
Priscilla Bremser$6,000$5,500$6,000$3,000

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$490K · 96%
Contributions & grants$20K · 4%
Program service revenue96%$490K
Contributions & grants4%$20K
— government grantsLn 1e$18K
Total revenueLn 12$510K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.89 Management & general $0.11
Program services89%$449K
Management & general11%$55K
Total functional expensesLn 25$504K

Balance Sheet

Part X · end of year
CashLn 1$23K
Total assetsLn 16$25K
Total liabilitiesLn 26$153K
Total net assetsLn 32$-128K
Months of cash on handcomputed0.5

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $23K · Operating expenses/yr $504K
0.5 months
Where the money goes
Program services
Program services $449K · Total expenses $504K
89%
Management & General
Management & general $55K · Total expenses $504K
11%
Fundraising
Fundraising $0 · Total expenses $504K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $2K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $20K · Total revenue $510K
4%
Government reliance
Government grants $18K · Total revenue $510K
4%
Earned-income share
Program service revenue $490K · Total revenue $510K
96%
Investment reliance
Investment income $0 · Total revenue $510K
0%
Program self-sufficiency
Program service revenue $490K · Total expenses $504K
97%
Growth & trend
Revenue growth (YoY)
This year $510K · Prior year $531K
-4%
Revenue CAGR
FY2019 $169K · FY2024 $510K
+25%
Net-asset trend (YoY)
End of year $-128K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $510K · Expenses $504K
+1%
Liabilities-to-Assets
Total liabilities — · Total assets $25K
Net-asset ratio
Net assets $-128K · Total assets $25K
-508%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $25K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Judi Laird · Reported title Executive Director · Highest reported compensation $86K · Total expenses $504K
17%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $153K · Total expenses $504K
30%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 89%
Overhead ratio 11%
Revenue growth -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
Total grants receivedfrom 1 funder$15K

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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$531K revenue · ⤓ 990 PDF
FY2023$451K revenue · ⤓ 990 PDF
FY2022$421K revenue · ⤓ 990 PDF
FY2021$274K revenue · ⤓ 990 PDF
FY2020$169K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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