VMI INC FY2023 filing

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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.
90¢ of each $1 spent went to programs.
$167K 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

FY2023 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average deficit $6K a year · 1% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
90%
of spending
Looks good: 90% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$167K
to officers and key staff · 35% of spending
Concern: pay to officers and key staff is 35% of spending; over 30%.
Pt VII · Sec A
<1 mo
of spending, in cash
Worth a look: 0.8 months of spending in cash; under 1.
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
$165K
502% of total assets
Concern: liabilities are 502% of assets; over 80%.
Pt X · Ln 26
Independent board members
6
of 6 voting members
Looks good: 6 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$451K
+7% vs prior year
Spent
$477K
To programs
90%
Net assets
−$132K
By yearFY2020–FY2025
Revenue
$451K
FY2023▲ +7%
Tap a bar for its year
Revenue by fiscal year
FY2020$169K
FY2021$274K
FY2022$421K
FY2023$451K
FY2024$531K
FY2025$510K
Expenses
$477K
FY2023▲ +12%
Tap a bar for its year
Expenses by fiscal year
FY2020Not on file
FY2021$293K
FY2022$426K
FY2023$477K
FY2024$519K
FY2025$504K
Net assets
−$132K
FY2023▼ -25%
Tap a bar for its year
Net assets by fiscal year
FY2020−$82K
FY2021−$101K
FY2022−$105K
FY2023−$132K
FY2024−$119K
FY2025−$128K

From the FY2023 Form 990 (year ending June 2023) · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 2020.

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

Where the money goes

90 cents of each dollar spent went to programs.

Program services 90% · $431K Management & general 10% · $46K

Form 990 Part IX, line 25, columns B–D. 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; $167K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Executive Director
$103,224Pt VII · Sec A
Board Member
$57,925Pt VII · Sec A
Board Secretary
$6,000Pt 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
Board Member
$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

NameFY2025FY2024FY2023FY2022FY2021FY2020
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.

See VMI INC executive salaries →

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.

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3 programs · $431K · in their own filed words · FY2022
01

The VMI, in partnership with Southern New Hampshire University (SNHU): (1) had 34 students enrolled in the Master's Degree program, split between 2 cohorts. One cohort of 20 participants completed their third year and will complete the final three credits of the program in July 2023.

$336Kprogram 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). This service included: >Classroom based support for teachers, >intervention work (planning, materials development, system and processes development), >PLC attendance and…

$64Kprogram expense
03

The VMI conducted several professional development opportunities across the state during this reporting period. These were non-degree granting courses, workshops or inservice experiences for educators that are not part of the Masters Degree or Post-graduate certificate programs.

$32Kprogram expense

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 FY2023 990, line by line.

1The main four
Money inPt VIII
$451K
Ln 12
Fees for servicesLn 2g$448K
Gifts and grantsLn 1h$3K
Other incomeLn 4–11$80
Money outPt IX
$477K
Ln 25
Programscol B$431K
Managementcol C$46K
Owns and owesPt X
−$132K
net assets · Ln 32
Cash and savingsLn 1–2$33K
Total assetsLn 16$33K
LiabilitiesLn 26$165K
PeoplePt VI, VII
8
listed · VII A
PaidVII A3
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$3K
Government grantsLn 1e$0
Noncash giftsLn 1g$0
Fundraising eventsLn 1c$0
Fees for servicesLn 2g$448K
Other incomeLn 4–11$80
Total revenueLn 12$451K
Assets in detailPt X, end of year
CashLn 1$33K
Cash and savings togetherLn 1–2$33K
Total assetsLn 16$33K
LiabilitiesLn 26$165K
Net assetsLn 32−$132K
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 FY23End FY23
Cash and savingsLn 1–2$76K$33K
Total assetsLn 16$76K$33K
LiabilitiesLn 26$182K$165K
Net assetsLn 32−$105K−$132K
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
Pay of disqualified personsLn 6$0$0
Other salaries and wagesLn 7$238K$206K$32K
Pension plan contributionsLn 8$6K$5K$1K
Other employee benefitsLn 9$9K$6K$3K
Payroll taxesLn 10$18K$16K$2K
Management feesLn 11a$3K$3K
Legal feesLn 11b$0$0
Accounting feesLn 11c$255$255
Other fees for servicesLn 11g$126K$126K$0$0
Advertising and promotionLn 12$360$360
Office expensesLn 13$344$344
Information technologyLn 14$4K$4K
TravelLn 17$1K$1K
Conferences, conventions and meetingsLn 19$65K$65K
InsuranceLn 23$2K$2K
Other expenses (24a–d)Ln 24$3K$924$2K$0
Total functional expensesLn 25$477K$431K$46K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS May 15, 2026 $510K$504K$6K−$128K 990 PDF
FY2024Filed with the IRS May 9, 2025 $531K$519K$12K−$119K 990 PDF
FY2023 ViewingFiled with the IRS May 15, 2024 $451K$477K−$26K−$132K 990 PDF
FY2022Filed with the IRS May 19, 2023 $421K$426K−$4K−$105K 990 PDF
FY2021Filed with the IRS May 16, 2022 $274K$293K−$19K−$101K 990 PDF
FY2020Filed with the IRS Feb 18, 2021 $169K−$82K 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $450,829 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $42,327$2,774
I-9 Program service revenuePrior year $378,898$447,975
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$80
I-12 Total revenuePrior year $421,225$450,829
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $235,255$272,056
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $190,267$205,245
I-18 Total expensesPrior year $425,522$477,301
I-19 Revenue less expensesPrior year −$4,297−$26,472
Part VI · Governance 6 of 6 board members independent, 2 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members6
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $450,829 across 11 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$0
VIII-1f All other contributions, gifts and grants$2,774
VIII-1g Noncash contributions (included above)$0
VIII-1h Total contributions, gifts and grants$2,774
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $447,975 · Unrelated business $0 · Excluded from tax $0$447,975
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $80 · Unrelated business $0 · Excluded from tax $0$80
VIII-12 Total revenueRelated to mission $448,055 · Unrelated business $0 · Excluded from tax $0$450,829
Part IX · Statement of functional expenses $477,301 across 21 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-6 Pay of disqualified personsPrograms $0$0
IX-7 Other salaries and wagesPrograms $205,768 · Management $32,403$238,171
IX-8 Pension plan contributionsPrograms $5,226 · Management $1,212$6,438
IX-9 Other employee benefitsPrograms $6,378 · Management $2,734$9,112
IX-10 Payroll taxesPrograms $15,879 · Management $2,456$18,335
IX-11a Management feesManagement $3,029$3,029
IX-11b Legal feesManagement $0$0
IX-11c Accounting feesManagement $255$255
IX-11g Other fees for servicesPrograms $125,984 · Management $0 · Fundraising $0$125,984
IX-12 Advertising and promotionPrograms $360$360
IX-13 Office expensesPrograms $344$344
IX-14 Information technologyPrograms $3,862$3,862
IX-17 TravelPrograms $1,285$1,285
IX-19 Conferences, conventions and meetingsPrograms $64,945$64,945
IX-23 InsuranceManagement $1,898$1,898
IX-24 Other expenses (24a–d)Programs $924 · Management $2,359 · Fundraising $0$3,283
IX-25 Total functional expensesPrograms $430,955 · Management $46,346 · Fundraising $0$477,301
Part X · Balance sheet $32,748 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $76,253$32,748
X-16 Total assetsStart of year $76,253$32,748
X-25 Other liabilitiesStart of year $108,600$108,700
X-26 Total liabilitiesStart of year $181,543$164,510
X-27 Net assets without donor restrictionsStart of year −$105,290−$131,762
X-28 Net assets with donor restrictionsStart of year $0$0
X-32 Total net assets or fund balancesStart of year −$105,290−$131,762
X-33 Total liabilities and net assetsStart of year $76,253$32,748
Part XI · Reconciliation of net assets −$131,762 net assets at year end
XI-1 Total revenue$450,829
XI-2 Total expenses$477,301
XI-3 Revenue less expenses−$26,472
XI-4 Net assets at start of year−$105,290
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−$131,762

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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