VMI INC FY2022 filing

Tax-deductible

East Burke, VT501(c)(3)Since 2019EducationEIN 83-3843704

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 Vermont State University (VTSU) for its credit bearing and degree granting programs.

501(c)(3) charity; gifts are tax-deductible.
91¢ of each $1 spent went to programs.
$131K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
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
Yes
Donations are tax-deductible
Looks good: the IRS lists 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
1 of 4
filings with a surplus
Average deficit $9K a year · 2% of revenue · last 4 filings
Concern: a surplus in 1 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
91%
of spending
Looks good: 91% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$131K
to officers and key staff · 31% of spending
Concern: pay to officers and key staff is 31% of spending; over 30%.
Pt VII · Sec A
Cash reserves
2 mo
of spending, in cash
Fine: 2.2 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $15K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$182K
238% of total assets
Concern: liabilities are 238% of assets; over 80%.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$421K
+54% vs prior year
Spent
$426K
To programs
91%
Net assets
−$105K
By yearFY2020–FY2024
Revenue
$421K
FY2022▲ +54%
Revenue by fiscal year
FY2020$169K
FY2021$274K
FY2022$421K
FY2023$451K
FY2024$531K
FY2024$510K
Expenses
$426K
FY2022▲ +45%
Expenses by fiscal year
FY2020Not on file
FY2021$293K
FY2022$426K
FY2023$477K
FY2024$519K
FY2024$504K
Net assets
−$105K
FY2022▼ -4%
Net assets by fiscal year
FY2020−$82K
FY2021−$101K
FY2022−$105K
FY2023−$132K
FY2024−$119K
FY2024−$128K

From the FY2022 Form 990 (year ending June 2022) · see the original

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You’re viewing the FY2022 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 Mar 2020.

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

Where the money goes

91 cents of each dollar spent went to programs.

Program services 91% · $389K Management & general 9% · $36K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Who runs it and what they're paid

7 people listed on the 990; $131K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
Executive Director
$100,977Pt VII · Sec A
Board Member
$27,325Pt VII · Sec A
Board Secretary
$3,000Pt 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

Judi Laird’s $86K as Executive Director is at the 75th percentile of top reported officer pay among 1613 $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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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 15aYes
  • Loans to or from officersSch L · Pt II1 listed

Programs and updates

Improves math teaching and learning by training K-12 teacher leaders and supporting schools statewide.

Provided by the organization

This section is blank until VMI INC claims this page.

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3 program services account for $389K of program spending, described in the organization's own filed words · FY2021.
01

The VMI, in partnership with Southern New Hampshire University (SNHU): (1) graduated 36 students from the Master's Degree program and enrolled 16 educators into its newest Master's Degree cohort which started July 11, 2021.

$294Kprogram expense
02

The VMI provided professional consulting services in support of mathematics teaching and learning at the middle level in EWSD (specifically the ADL and EMS schools). Includes: --Classroom based support for teachers, --intervention work (planning, materials development, system and processes development), --PLC attendance and planning…

$49Kprogram expense
03

The VMI offered two professional development, non-degree granting courses for educators: Mathematical Coherence in the Elementary Grades and Mathematics as a Second Language. The Mathematical Coherence class enrolled 20 participants (VT educators) in Southern VT.

$46Kprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 1 funder$15K

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$421K
Ln 12
Fees for servicesLn 2g$379K
Gifts and grantsLn 1h$42K
Money outPt IX
$426K
Ln 25
Programscol B$389K
Managementcol C$36K
Owns and owesPt X
−$105K
net assets · Ln 32
Cash and savingsLn 1–2$76K
Total assetsLn 16$76K
LiabilitiesLn 26$182K
PeoplePt VI, VII
7
listed · VII A
PaidVII A3
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$42K
Government grantsLn 1e$40K
Noncash giftsLn 1g$0
Fundraising eventsLn 1c$0
Fees for servicesLn 2g$379K
Total revenueLn 12$421K
Assets in detailPt X, end of year
CashLn 1$76K
Cash and savings togetherLn 1–2$76K
Total assetsLn 16$76K
LiabilitiesLn 26$182K
Net assetsLn 32−$105K
OperationsPt I, VI
EmployeesI 52
VolunteersI 60
Fiscal year endsHeaderJune
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 FY22End FY22
Cash and savingsLn 1–2$136K$76K
Total assetsLn 16$136K$76K
LiabilitiesLn 26$237K$182K
Net assetsLn 32−$101K−$105K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0$0
Grants to domestic individualsLn 2$0$0
Grants and assistance to foreign recipientsLn 3$0$0
Benefits paid to or for membersLn 4$0$0
Pay of current officers, directors and key staffLn 5$0$0
Other salaries and wagesLn 7$209K$182K$27K
Pension plan contributionsLn 8$950$750$200
Other employee benefitsLn 9$9K$7K$2K
Payroll taxesLn 10$16K$14K$2K
Management feesLn 11a$2K$2K
Legal feesLn 11b$0
Accounting feesLn 11c$542$542
Other fees for servicesLn 11g$147K$147K
Advertising and promotionLn 12$250$250
Office expensesLn 13$225$225
Information technologyLn 14$2K$2K
TravelLn 17$771$771
Conferences, conventions and meetingsLn 19$29K$29K$77
InsuranceLn 23$2K$2K
Other expenses (24a–d)Ln 24$6K$6K$109
Total functional expensesLn 25$426K$389K$36K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $531K$519K$12K−$119K 990 PDF
FY2023 $451K$477K−$26K−$132K 990 PDF
FY2022 Viewing $421K$426K−$4K−$105K 990 PDF
FY2021 $274K$293K−$19K−$101K 990 PDF
FY2020 $169K−$82K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2022 990 (4 parts)
Part VIII · Statement of revenue $421,225 across 10 lines filed
VIII-1a Federated campaigns$0
VIII-1b Membership dues$0
VIII-1c Fundraising events$0
VIII-1d Related organizations$0
VIII-1e Government grants$40,327
VIII-1f All other contributions, gifts and grants$2,000
VIII-1g Noncash contributions (included above)$0
VIII-1h Total contributions, gifts and grants$42,327
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $378,898 · Unrelated business $0 · Excluded from tax $0$378,898
VIII-12 Total revenueRelated to mission $378,898 · Unrelated business $0 · Excluded from tax $0$421,225
Part IX · Statement of functional expenses $425,522 across 20 lines filed
IX-1 Grants to domestic organizationsPrograms $0$0
IX-2 Grants to domestic individualsPrograms $0$0
IX-3 Grants and assistance to foreign recipientsPrograms $0$0
IX-4 Benefits paid to or for membersPrograms $0$0
IX-5 Pay of current officers, directors and key staffPrograms $0$0
IX-7 Other salaries and wagesPrograms $181,963 · Management $27,002$208,965
IX-8 Pension plan contributionsPrograms $750 · Management $200$950
IX-9 Other employee benefitsPrograms $6,750 · Management $2,250$9,000
IX-10 Payroll taxesPrograms $14,269 · Management $2,071$16,340
IX-11a Management feesManagement $2,425$2,425
IX-11b Legal fees$0
IX-11c Accounting feesManagement $542$542
IX-11g Other fees for servicesPrograms $147,012$147,012
IX-12 Advertising and promotionPrograms $250$250
IX-13 Office expensesPrograms $225$225
IX-14 Information technologyPrograms $2,196$2,196
IX-17 TravelPrograms $771$771
IX-19 Conferences, conventions and meetingsPrograms $29,377 · Management $77$29,454
IX-23 InsuranceManagement $1,631$1,631
IX-24 Other expenses (24a–d)Programs $5,652 · Management $109$5,761
IX-25 Total functional expensesPrograms $389,215 · Management $36,307 · Fundraising $0$425,522
Part X · Balance sheet $76,253 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $135,934$76,253
X-16 Total assetsStart of year $135,934$76,253
X-25 Other liabilitiesStart of year $148,927$108,600
X-26 Total liabilitiesStart of year $236,927$181,543
X-27 Net assets without donor restrictionsStart of year −$100,993−$105,290
X-28 Net assets with donor restrictionsStart of year $0$0
X-32 Total net assets or fund balancesStart of year −$100,993−$105,290
X-33 Total liabilities and net assetsStart of year $135,934$76,253
Part XI · Reconciliation of net assets −$105,290 net assets at year end
XI-1 Total revenue$421,225
XI-2 Total expenses$425,522
XI-3 Revenue less expenses−$4,297
XI-4 Net assets at start of year−$100,993
XI-5 Net unrealized gains (losses) on investments$0
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments$0
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$105,290

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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