The Woodstock Foundation Inc

The information for The Woodstock Foundation Inc is as of the organization's most recent filing in December '21. This organization is located in Woodstock, VT. It has been in existence for 53 years, following its founding in 1968.

Organization Classification

The IRS classifies organizations according to the National Taxonomy of Exempt Entities (NTEE) system. The NTEE system helps the IRS assign a 3-character code to each organization to describe the organization's activities.

The Woodstock Foundation Inc's NTEE code is B90. The "B" tells us that the organization is classified under Education. The "90" tells us that the organization is involved in Educational Services. The NTEE describes Educational Services as organizations that provide educational programs within the formal educational system or as an adjunct to the traditional school curriculum, helping students succeed in school and prepare for life. These organizations often partner with parents, families, schools, business, and community leaders to broker resources for the benefit of local schools. The Woodstock Foundation Inc is also a 501(c)(3) organization, which means it is engaged in Religious, Educational, Charitable, Scientific, Literary, Public Safety, Amateur Sports, or Prevention of Cruelty to Children or Animals work. The mission of The Woodstock Foundation Inc is to support cultural heritage and historic preservation efforts, including contributing to the preservation and conservation of local National Park Service resources. One of their significant activities is the Billings Farm & Museum, an operating dairy farm and museum that showcases Vermont's rural history.

Program Areas

Program Area 1: The Woodstock Foundation operates a dairy farm and museum in Woodstock, Vermont for the benefit of the general public. The organization offers educational programs on past and present farming practices and maintains the facilities. The farm and museum are open to the public daily from April 1 to October 31, on weekends and holiday periods from November to February, and for school groups by reservation anytime. In 2021, the total number of visitors was 72,513. Within the general fund, the organization reports all revenues, support, and functional expenses that are not specifically reported by another fund or program.

Program Area 2: The organization focuses on the preservation and conservation of the Marsh-Billings-Rockefeller National Historical Park's historic resources for the benefit of the citizens of the United States. They offer year-round programs to support this mission.

Program Area 3: This program area focuses on enhancing state, national, and international non-profit efforts to preserve cultural heritage and historic sites. The organization provides year-round programs to achieve this goal.

Program Area 4: Other program services represent the remaining program services for the foundation.

Organization Staffing

The Woodstock Foundation Inc is run by David Simmons, who is the President. The organization has 124 employees, with only 2 employees being paid over $100k per year. Currently, there are no volunteers supporting the organization's labor force.

Board Governance

The Woodstock Foundation Inc appears to be a well-governed non-profit organization based on the information provided. The organization has a total of 9 voting members, all of whom are independent, indicating a diverse and unbiased decision-making process. This ensures that the best interests of the organization and its mission are prioritized. The absence of potential conflicts of interest further strengthens the organization's governance. This indicates that the board members are not involved in any personal or financial relationships that could compromise their ability to make impartial decisions. The fact that the organization has not delegated management to an outside firm suggests that they have a strong internal structure and are actively involved in overseeing the operations and decision-making processes. This allows for better accountability and transparency. The documentation of board and committee meetings is another positive sign of good governance. This ensures that all discussions, decisions, and actions taken by the board and committees are recorded and can be referred to in the future, promoting transparency and accountability. The Woodstock Foundation Inc's commitment to conflict of interest, whistleblower, and document retention policies further demonstrates their dedication to ethical practices and transparency. These policies provide guidelines for addressing and managing potential conflicts, protecting whistleblowers, and ensuring the proper retention of important documents. Additionally, the organization's practice of substantiating and reviewing leadership and officer salaries indicates a responsible approach to financial management. This helps to ensure that compensation is fair and reasonable, aligning with industry standards and the organization's financial resources. Lastly, the organization's practice of providing copies of the 990 form to the board prior to filing showcases their commitment to transparency and accountability in financial reporting. Overall, The Woodstock Foundation Inc appears to be well-governed, with strong policies and practices in place to promote transparency, accountability, and ethical decision-making.

Organization Growth

The Woodstock Foundation Inc has experienced significant growth over the given time period. Contributions and grants received increased from $265.6K in 2014 to $654.5K in 2021. Program service revenue also saw growth, rising from $776.9K in 2014 to $1.2M in 2021. Investment income increased from $1.6M in 2014 to $2.3M in 2021. Additionally, the total revenue of the organization increased from $2.6M in 2014 to $4.3M in 2021. Despite a decrease in grants paid from $440.0K in 2014 to $369.9K in 2021, the overall growth is evident. Employee salaries increased from $1.8M in 2014 to $2.2M in 2021, and the total expenses of the organization rose from $4.4M in 2014 to $5.5M in 2021. The number of employees also grew from 83 in 2014 to 124 in 2021. Overall, the Woodstock Foundation Inc has experienced significant growth in various aspects over the given time period.

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Board, Officers & Key Employees

Name (title)Compensation
David Simmons
President
$208,485
Michelle A Adams
Executive VP
$135,607
Marian Koetsier
Secretary
$86,411
Salvatore Iannuzzi
Trustee, Vice Chairman
$0
Ellen R C Pomeroy
Trustee - Chair
$0
Angela Ardolic
Treasurer
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Conway Landscape & Lawncare Corp
Landscaping
$158,411
Hicks Sales & Service
Construction
$454,602
View All Vendors

Financial Statements

Statement of Revenue
Total Revenue from Contributions, Gifts, Grants & Similar$344,986
Investment income $627,513
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $2,938,379
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $49,030
Miscellaneous Revenue$0
Total Revenue $4,508,256

Grants Recieved

Over the last fiscal year, we have identified 2 grants that The Woodstock Foundation Inc has recieved totaling $15,300.

Awarding OrganizationAmount
Vermont Humanities Council

Montpelier, VT

PURPOSE: GENERAL PURPOSE

$15,000
Bank Of America Charitable Foundation Inc

Charlotte, NC

PURPOSE: OPERATIONAL SUPPORT

$300
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$14,711,314
Earnings$1,250,945
Other Expense$369,998
Ending Balance$15,592,261

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