Greater Burlington Indus Corp

Organization Overview

Greater Burlington Indus Corp is located in Burlington, VT. The organization was established in 1956. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, Greater Burlington Indus Corp employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greater Burlington Indus Corp is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.

For the year ending 06/2022, Greater Burlington Indus Corp generated $856.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (4.7%) each year. All expenses for the organization totaled $822.3k during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

TO ATTRACT, RETAIN, AND EXPAND ENVIRONMENTALLY SENSITIVE HIGH-PAYING JOBS IN THE CHAMPLAIN VALLEY; AND TO INITIATE AND SUPPORT ADVOCACY, EDUCATION, AND COLLABORATIVE PROGRAMS IN PROMOTING OUR VISION.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE CORPORATION'S PURPOSE IS PROMOTING INDUSTRIAL DEVELOPMENT, CREATING QUALITY JOBS AND ASSISTING IN WORKFORCE DEVELOPMENT IN THE CHITTENDEN COUNTY, VERMONT AREA.


THE CORPORATION PROVIDES ADMINISTRATIVE SUPPORT FOR AN AFFILIATED NON- PROFIT ORGANIZATION. CYNOSURE,INC. SERVES AS THE FINANCIAL ARM OF THE GREATER BURLINGTON INDUSTRIAL CORPORATION AS IT ASSISTS BUSINESSES IN OBTAINING REAL ESTATE FINANCING AND CONTRACTS TO BUILD, AND ALSO LEASES PLANT SPACE IN THE GREATER BURLINGTON, VERMONT AREA.


OTHER FUNCTIONS OF THE CORPORATION INCLUDE ADMINISTRATION, ADMINISTRATION OF AGENCY ARRANGEMENTS AND OTHER INDIRECT MANAGEMENT SERVICES.


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Board, Officers & Key Employees

Name (title)Compensation
Frank Cioffi
President/se
$195,248
Tim Shea
Chairman
$0
Peter Sylvester
Vice Chairma
$0
Ernest A Pomerleau
Treasurer
$0
Charlie Baker
Director
$0
Ted Adler
Director
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$75,508
Fundraising events$0
Related organizations$568,500
Government grants $123,264
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$767,272
Total Program Service Revenue$0
Investment income $46,666
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $13,004
Net Gain/Loss on Asset Sales $29,134
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $856,076

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Greater Burlington Indus Corp has recieved totaling $38,650.

Awarding OrganizationAmount
Brattleboro Development Credit Corporation

Brattleboro, VT

PURPOSE: GRANT ASSISTANCE

$38,650
View Grant Recipient Profile

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