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Elmore Community Trust

Tax-deductible

Lake Elmore, VT501(c)(3)Community Development EIN 85-0623566Revenue $163K in FY2024

On file with the IRSelmorecommunitytrust.orgPo Box 97, 05657-0097 · Lake Elmore, VTTax-exempt since Apr 2021Publicly supported — 509(a)(2)

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The Elmore Community Trust (ect) is a newly formed 501(c)3 non-profit organization comprised of devoted Elmore residents with a goal of caring for places that make Elmore special, and to bring in the types of businesses, organizations, and residents that contribute positively to our vibrant rural Community.

501(c)(3) charity; gifts are tax-deductible.
92¢ of each $1 spent went to programs.
Run by 34 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

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
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
4 of 4
filings with a surplus
Average surplus $153K a year · 82% of revenue · last 4 filings
Looks good: a surplus in 4 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
92%
of spending
Looks good: 92% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
14 mo
of spending, in cash
Looks good: 14.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
6
named funders · $67K
Looks good: 6 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$40K
6% of total assets
Looks good: liabilities are 6% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$163K
+1% vs prior year
Spent
$50K
To programs
92%
Net assets
$640K
By yearFY2021–FY2024
Revenue
$163K
FY2024▲ +1%
Tap a bar for its year
Revenue by fiscal year
FY2021$345K
FY2022$74K
FY2023$161K
FY2024$163K
Expenses
$50K
FY2024▲ +22%
Tap a bar for its year
Expenses by fiscal year
FY2021$10K
FY2022$32K
FY2023$41K
FY2024$50K
Net assets
$640K
FY2024▲ +22%
Tap a bar for its year
Net assets by fiscal year
FY2021$365K
FY2022$406K
FY2023$526K
FY2024$640K

From the FY2024 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Apr 2021.

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

Where the money goes

92 cents of each dollar spent went to programs.

Program services 92% · $46K Management & general 8% · $4K Fundraising 0% · $11

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

9 people listed on the 990.

Part VII, Section A · reportable compensation
Jason McLean
Treasurer
$0Pt VII · Sec A
Trevor Braun
Secretary
$0Pt VII · Sec A
Kate Sprague
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Mark Isselhardt
Vice Preside
$0Pt VII · Sec A
Blair Marvin
President
$0Pt VII · Sec A
Jon Osborne
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
See Elmore Community Trust executive salaries →

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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 15aNo
  • Loans to or from officersSch L · Pt II2 listed

Programs and updates

Preserves special places and attracts positive businesses and residents to the rural community.

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Provided by the organization

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1 program · $46K · in their own filed words · FY2024
01

Elmore Store Project

The store is the heart of the community - it is the post office, a gathering place, local news hub, and a place to eat and pick up groceries. Most importantly, it is the central location that gives our small town its identity.

$46Kprogram 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
Fidelity Investments Charitable Gift FundFY2024$49K
Donor Advised Charitable Giving INCFY2024$6K
Preservation Trust of Vermont INCFY2024$5K
James E Robison FoundationFY2024$5K
Select Equity Group FoundationFY2024$2K
The Devoe FoundationFY2024$500
Total grants receivedfrom 6 funders$67K
See all 6 funders →

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$163K
Ln 12
Gifts and grantsLn 1h$111K
Investment incomeLn 3$47K
Fees for servicesLn 2g$10K
Money outPt IX
$50K
Ln 25
Programscol B$46K
Managementcol C$4K
Fundraisingcol D$11
Owns and owesPt X
$640K
net assets · Ln 32
Cash and savingsLn 1–2$60K
Total assetsLn 16$680K
LiabilitiesLn 26$40K
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$111K
Fundraising eventsLn 1c$14K
Fees for servicesLn 2g$10K
Investment incomeLn 3$47K
Gains on assetsLn 7$45K
Total revenueLn 12$163K
Assets in detailPt X, end of year
CashLn 1$60K
Cash and savings togetherLn 1–2$60K
Land, buildings, equipmentLn 10c$587K
Total assetsLn 16$680K
LiabilitiesLn 26$40K
Net assetsLn 32$640K
OperationsPt I, VI
EmployeesI 50
VolunteersI 634
Fiscal year endsHeaderDecember
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$42K$60K
Land, buildings, equipmentLn 10c$503K$587K
Total assetsLn 16$586K$680K
LiabilitiesLn 26$60K$40K
Net assetsLn 32$526K$640K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$2K$2K
Other fees for servicesLn 11g$300$300
Advertising and promotionLn 12$4K$4K
Office expensesLn 13$1K$838$192$11
OccupancyLn 16$12K$12K
InterestLn 20$973$973
Depreciation, depletion and amortizationLn 22$12K$12K
InsuranceLn 23$4K$2K$2K
Other expenses (24a–d)Ln 24$13K$13K
All other expensesLn 24e$475$475
Total functional expensesLn 25$50K$46K$4K$11

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $163K$50K$113K$640K 990 PDF
FY2023 $161K$41K$120K$526K 990 PDF
FY2022 $74K$32K$41K$406K 990 PDF
FY2021 $345K$10K$335K$365K 990 PDF

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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 $163,175 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $164,826$110,850
I-9 Program service revenuePrior year $10,250$10,250
I-10 Investment incomePrior year −$16,649$46,731
I-11 Other revenuePrior year $2,842−$4,656
I-12 Total revenuePrior year $161,269$163,175
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $40,897$49,723
I-18 Total expensesPrior year $40,897$49,723
I-19 Revenue less expensesPrior year $120,372$113,452
Part VI · Governance 9 of 9 board members independent, 3 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $163,175 across 8 lines filed
VIII-1c Fundraising events$14,369
VIII-1f All other contributions, gifts and grants$96,481
VIII-1h Total contributions, gifts and grants$110,850
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $10,250$10,250
VIII-3 Investment incomeExcluded from tax $1,731$1,731
VIII-7 Net gain or loss on sales of assetsExcluded from tax $45,000$45,000
VIII-8 Net income from fundraising eventsExcluded from tax −$4,656−$4,656
VIII-12 Total revenueRelated to mission $10,250 · Excluded from tax $42,075$163,175
Part IX · Statement of functional expenses $49,723 across 10 lines filed
IX-11c Accounting feesManagement $1,600$1,600
IX-11g Other fees for servicesManagement $300$300
IX-12 Advertising and promotionPrograms $3,743$3,743
IX-13 Office expensesPrograms $838 · Management $192 · Fundraising $11$1,041
IX-16 OccupancyPrograms $12,120$12,120
IX-20 InterestPrograms $973$973
IX-22 Depreciation, depletion and amortizationPrograms $12,454$12,454
IX-23 InsurancePrograms $2,329 · Management $1,825$4,154
IX-24 Other expenses (24a–d)Programs $12,863$12,863
IX-24e All other expensesPrograms $475$475
IX-25 Total functional expensesPrograms $45,795 · Management $3,917 · Fundraising $11$49,723
Part X · Balance sheet $679,883 assets, 7 lines filed
Asset lines not itemized here account for $32,744; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $41,774$59,706
X-10c Land, buildings and equipment, netStart of year $502,804$587,433
X-16 Total assetsStart of year $586,431$679,883
X-26 Total liabilitiesStart of year $60,000$40,000
X-27 Net assets without donor restrictionsStart of year $526,431$639,883
X-32 Total net assets or fund balancesStart of year $526,431$639,883
X-33 Total liabilities and net assetsStart of year $586,431$679,883
Part XI · Reconciliation of net assets $639,883 net assets at year end
XI-1 Total revenue$163,175
XI-2 Total expenses$49,723
XI-3 Revenue less expenses$113,452
XI-4 Net assets at start of year$526,431
XI-10 Net assets at end of year$639,883

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

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