Brattleboro Development Credit Corporation
- Assets
- $32.4m
- Revenue
- $6.7m
- Investments
- $0.0
- Employees
- 21
- Location
- Brattleboro, VT
- Founding
- 06/2017
- Data as of
- 06/2021
- EIN
- 03-6010485
Organization Overview
Brattleboro Development Credit Corporation is located in Brattleboro, VT. The organization was established in 2017. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2021, Brattleboro Development Credit Corporation employed 21 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. Brattleboro Development Credit Corporation 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 06/2021, Brattleboro Development Credit Corporation generated $6.7m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (0.3%) each year. All expenses for the organization totaled $6.0m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (1.2%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Brattleboro Development Credit Corporation has awarded 286 individual grants totaling $7,125,092. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
BRATTLEBORO DEVELOPMENT CREDIT CORPORATION (BDCC) IS A PRIVATE, NONPROFIT ECONOMIC DEVELOPMENT ORGANIZATION SERVES AS A CATALYST FOR INDUSTRIAL AND COMMERCIAL GROWTH IN WINDHAM COUNTY. OUR PRIMARY OBJECTIVE IS TO CREATE AND RETAIN A FLOURISHING BUSINESS COMMUNITY THAT SUPPORTS VIBRANT FISCAL ACTIVITY AND IMPROVES THE QUALITY OF LIFE OF ALL ITS RESIDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
REAL ESTATE: OPERATION OF INCUBATOR INDUSTRIAL BUILDINGS AND SEVERAL LOTS IN THE EXIT ONE INDUSTRIAL PARK, HOUSING IN EXCESS OF 50 BUSINESSES, EMPLOYING IN EXCESS OF 350 PEOPLE. THE ORGANIZATION PREVIOUSLY ACQUIRED OLDER, UNOCCUPIED INDUSTRIAL BUILDINGS VACATED BY MAJOR EMPLOYERS AND CONVERTED THE BUILDINGS TO INCUBATOR FACILITIES TARGETED TO STARTUP BUSINESSES, AND TO SUPPORT REGIONAL EMPLOYERS AS THEY LOOK TO GROW AND EXPAND. THE ORGANIZATION PROVIDES ADMINISTRATIVE AND MANAGEMENT SUPPORT TO THESE BUSINESSES, AND TO THE SOUTHERN VERMONT REGION.
DEVELOPMENT PROJECTS: BDCC HAS ENTERED INTO AGREEMENTS, IN SUPPORT OF AFFILIATED ENTITIES; BRATTLEBORO DEVELOPMENT CREDIT CORPORATION REAL ESTATE HOLDINGS, INC. AND BRATTLEBORO DEVELOPMENT CREDIT CORPORATION REAL ESTATE HOLDINGS II, INC., ON BEHALF OF SPECIFIC EXPANSION PROJECTS FOR THE BENEFIT OF REGIONAL EMPLOYERS PROVIDING OPPORTUNITIES FOR GROWTH AND JOB CREATION.
ADMINISTERING BDCC'S STRATEGIC PROJECTS, FUNDED FROM INTERNAL SOURCES, FEDERAL, STATE, AND PRIVATE FOUNDATION GRANTS, INCLUDING WORKFORCE CENTER OF EXCELLENCE, SOUTHERN VERMONT ECONOMY PROJECT, AND WINDHAM COUNTY ECONOMIC DEVELOPMENT PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Adam Grinold Executive Director | Officer | 40 | $139,373 |
Tammy Richards Vice President | OfficerTrustee | 1 | $0 |
Deborah Boyle Treasurer | OfficerTrustee | 1 | $0 |
John Meyer Asst. Treasurer | OfficerTrustee | 1 | $0 |
Robert Stevens President | OfficerTrustee | 3 | $0 |
Stephan Morse Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Gs Precision Inc Engineering Services | 6/29/17 | $103,930 |
M&s Development Development Services | 6/29/17 | $161,232 |
Truexcullins Architecture And Interior Design | 6/29/17 | $291,238 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,637,622 |
| 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 | $3,637,622 |
| Total Program Service Revenue | $2,690,261 |
| Investment income | $334,129 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,662,012 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,481,148 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $140,200 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $835,656 |
| Pension plan accruals and contributions | $24,486 |
| Other employee benefits | $87,876 |
| Payroll taxes | $79,881 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $664 |
| Fees for services: Accounting | $11,487 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $118,612 |
| Advertising and promotion | $49,513 |
| Office expenses | $59,460 |
| Information technology | $57,264 |
| Royalties | $0 |
| Occupancy | $1,124,319 |
| Travel | $7,478 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $385,729 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $376,902 |
| Insurance | $91,659 |
| All other expenses | $43,302 |
| Total functional expenses | $5,975,636 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $86,322 |
| Savings and temporary cash investments | $4,719,340 |
| Pledges and grants receivable | $137,718 |
| Accounts receivable, net | $489,077 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $21,721,754 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $5,243,083 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $32,397,294 |
| Accounts payable and accrued expenses | $162,832 |
| Grants payable | $0 |
| Deferred revenue | $1,520,775 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $24,591,884 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,079,236 |
| Total liabilities | $27,354,727 |
| Net assets without donor restrictions | $5,042,567 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $32,397,294 |
Grants Awarded
Over the last fiscal year, Brattleboro Development Credit Corporation has awarded $1,979,355 in support to 183 organizations.
| Grant Recipient | Amount |
|---|---|
Brattleboro, VT PURPOSE: GRANT ASSISTANCE | $50,000 |
ETERNITY MARKETING LLC PURPOSE: GRANT ASSISTANCE | $49,500 |
Bennington, VT PURPOSE: GRANT ASSISTANCE | $41,499 |
INSIGHTS LLC PURPOSE: GRANT ASSISTANCE | $39,625 |
Burlington, VT PURPOSE: GRANT ASSISTANCE | $38,650 |
Morrisville, VT PURPOSE: GRANT ASSISTANCE | $31,500 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Brattleboro Development Credit Corporation has recieved totaling $47,500.
| Awarding Organization | Amount |
|---|---|
Vermont Community Foundation Middlebury, VT PURPOSE: GENERAL PURPOSE | $30,000 |
George W Mergens Foundation Milton, VT PURPOSE: PIPELINE ANDPATHWAYSPROGRAM (P3) | $10,000 |
J Warren & Lois Mcclure Foundation Inc Middlebury, VT PURPOSE: TO SUPPORT CAREER AWARENESS EVENTS AND EFFORTS FOR YOUTH VIA THREE PAYMENTS OF $2,500 SCHEDULED FOR JANUARY 2022, JANUARY 2023, AND JANUARY 2024. | $7,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Telecom Infra Project Inc Wakefield, MA | $19,363,144 | $19,879,167 |
Northeast Gas Association Inc Needham, MA | $15,830,312 | $17,592,560 |
International Trademark Association Inc New York, NY | $31,452,258 | $17,397,846 |
American Association Of Advertising Agencies Inc New York, NY | $18,840,338 | $16,325,912 |
Northeast Power Coordinating Council Inc New York, NY | $13,480,521 | $16,289,125 |
Global Seafood Alliance Inc Portsmouth, NH | $16,114,958 | $17,110,603 |
The Toy Association Inc New York, NY | $44,631,259 | $11,487,921 |
Private Label Manufacturers Association New York, NY | $11,255,640 | $8,374,810 |
Mohawk Valley Health System Utica, NY | $546,149,518 | $137,473,732 |
Acord Corporation Pearl River, NY | $47,591,189 | $27,875,680 |
Loan Syndications And Trading Association Inc New York, NY | $32,443,554 | $12,995,504 |
Chartered Alternative Investment Analyst Association Inc Amherst, MA | $10,766,695 | $9,878,929 |