VMI INC FY2024 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.
93¢ of each $1 spent went to programs.
$122K 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

FY2024 · 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
93%
of spending
Looks good: 93% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$122K
to officers and key staff · 24% of spending
Worth a look: pay to officers and key staff is 24% of spending; over 20%.
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
$155K
437% of total assets
Concern: liabilities are 437% 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
$531K
+18% vs prior year
Spent
$519K
To programs
93%
Net assets
−$119K
By yearFY2020–FY2025
Revenue
$531K
FY2024▲ +18%
Tap a bar for its year
Revenue by fiscal year
FY2020$169K
FY2021$274K
FY2022$421K
FY2023$451K
FY2024$531K
FY2025$510K
Expenses
$519K
FY2024▲ +9%
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
−$119K
FY2024▲ +9%
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 FY2024 Form 990 (year ending June 2024) · figures checked against the IRS filing · see the original

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You’re viewing the FY2024 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

93 cents of each dollar spent went to programs.

Program services 93% · $481K Management & general 7% · $38K

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; $122K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Executive Director
$103,508Pt VII · Sec A
Board Member
$13,400Pt VII · Sec A
Board Secretary
$5,500Pt 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 · $481K · in their own filed words · FY2023
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.

$418Kprogram 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…

$38Kprogram 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.

$25Kprogram 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 FY2024 990, line by line.

1The main four
Money inPt VIII
$531K
Ln 12
Fees for servicesLn 2g$529K
Gifts and grantsLn 1h$2K
Money outPt IX
$519K
Ln 25
Programscol B$481K
Managementcol C$38K
Owns and owesPt X
−$119K
net assets · Ln 32
Cash and savingsLn 1–2$35K
Total assetsLn 16$35K
LiabilitiesLn 26$155K
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$2K
Government grantsLn 1e$0
Noncash giftsLn 1g$0
Fundraising eventsLn 1c$0
Fees for servicesLn 2g$529K
Total revenueLn 12$531K
Assets in detailPt X, end of year
CashLn 1$35K
Cash and savings togetherLn 1–2$35K
Total assetsLn 16$35K
LiabilitiesLn 26$155K
Net assetsLn 32−$119K
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 FY24End FY24
Cash and savingsLn 1–2$33K$35K
Total assetsLn 16$33K$35K
LiabilitiesLn 26$165K$155K
Net assetsLn 32−$132K−$119K
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$165K$137K$28K
Pension plan contributionsLn 8$3K$2K$473
Other employee benefitsLn 9$8K$6K$2K
Payroll taxesLn 10$13K$10K$2K
Management feesLn 11a$3K$3K
Legal feesLn 11b$20$20
Other fees for servicesLn 11g$203K$203K
Office expensesLn 13$791$616$175
Information technologyLn 14$3K$3K
TravelLn 17$694$694
Conferences, conventions and meetingsLn 19$111K$111K
InsuranceLn 23$1K$1K
Other expenses (24a–d)Ln 24$7K$7K$0$0
Total functional expensesLn 25$519K$481K$38K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS May 15, 2026 $510K$504K$6K−$128K 990 PDF
FY2024 ViewingFiled with the IRS May 9, 2025 $531K$519K$12K−$119K 990 PDF
FY2023Filed 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 FY2024 990 (6 parts)
Part I · Summary $531,254 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $2,774$2,065
I-9 Program service revenuePrior year $447,975$529,189
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $80$0
I-12 Total revenuePrior year $450,829$531,254
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 $272,056$188,526
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $205,245$330,407
I-18 Total expensesPrior year $477,301$518,933
I-19 Revenue less expensesPrior year −$26,472$12,321
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 $531,254 across 10 lines filed
Lines not itemized here account for $1,054 of total revenue; see the IRS return.
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$2,065
VIII-1g Noncash contributions (included above)$0
VIII-1h Total contributions, gifts and grants$2,065
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $528,135 · Unrelated business $0 · Excluded from tax $0$528,135
VIII-12 Total revenueRelated to mission $529,189 · Unrelated business $0 · Excluded from tax $0$531,254
Part IX · Statement of functional expenses $518,933 across 19 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 $136,567 · Management $28,352$164,919
IX-8 Pension plan contributionsPrograms $2,303 · Management $473$2,776
IX-9 Other employee benefitsPrograms $5,775 · Management $2,475$8,250
IX-10 Payroll taxesPrograms $10,452 · Management $2,129$12,581
IX-11a Management feesManagement $3,014$3,014
IX-11b Legal feesManagement $20$20
IX-11g Other fees for servicesPrograms $203,412$203,412
IX-13 Office expensesPrograms $616 · Management $175$791
IX-14 Information technologyPrograms $3,333$3,333
IX-17 TravelPrograms $694$694
IX-19 Conferences, conventions and meetingsPrograms $110,838$110,838
IX-23 InsuranceManagement $1,411$1,411
IX-24 Other expenses (24a–d)Programs $6,894 · Management $0 · Fundraising $0$6,894
IX-25 Total functional expensesPrograms $480,884 · Management $38,049 · Fundraising $0$518,933
Part X · Balance sheet $35,462 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $32,748$35,462
X-16 Total assetsStart of year $32,748$35,462
X-25 Other liabilitiesStart of year $108,700$106,421
X-26 Total liabilitiesStart of year $164,510$154,903
X-27 Net assets without donor restrictionsStart of year −$131,762−$119,441
X-28 Net assets with donor restrictionsStart of year $0$0
X-32 Total net assets or fund balancesStart of year −$131,762−$119,441
X-33 Total liabilities and net assetsStart of year $32,748$35,462
Part XI · Reconciliation of net assets −$119,441 net assets at year end
XI-1 Total revenue$531,254
XI-2 Total expenses$518,933
XI-3 Revenue less expenses$12,321
XI-4 Net assets at start of year−$131,762
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−$119,441

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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