Franklin County Industrial

Organization Overview

Franklin County Industrial is located in St Albans, VT. The organization was established in 1972. 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, Franklin County Industrial employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Franklin County Industrial is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.

For the year ending 06/2022, Franklin County Industrial generated $2.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.2% each year . All expenses for the organization totaled $2.4m during the year ending 06/2022. While expenses have increased by 11.7% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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 PROMOTE DEVELOPMENT AND GROWTH OF PRIVATE INDUSTRY IN THE GREATER ST. ALBANS AREA AND FRANKLIN COUNTY AS A WHOLE

Describe the Organization's Program Activity:

Part 3 - Line 4a

TO PROVIDE RENTAL SPACE IN A MULTI-TENANT BUILDING TO BUSINESSES FOR THE PURPOSE OF PROMOTING ECONOMIC DEVELOPMENT IN FRANKLIN COUNTY


TO PROVIDE RENTAL SPACE TO BUSINESSES IN ORDER TO FURTHER ENCOURAGE THE DEVELOPMENT OF INDUSTRY IN FRANKLIN COUNTY


TO PROVIDE LOANS TO AREA BUSINESSES AND MUNICIPALITIES FOR ACQUISITION AND EXPANSION PURPOSESTO PROVIDE REVOLVING LOANS FOR THE CREATION OF EMPLOYMENT OPPORTUNITIES AND/OR THE MAINTENANCE OF EXISTING JOBS, PARTICULARLY FOR THE BENEFIT OF LOW INCOME PERSONS, DISPLACED FARM FAMILIES AND FARM FAMILIES NEEDING TO SUPPLEMENT THEIR INCOME. THESE FUNDS ARE TO BE USED FOR THE PURCHASE OR EXPANSION OF LAND, BUILDINGS, MACHINERY OR EQUIPMENT, START-UP COSTS, FEASIBILITY STUDIES OR OTHER WORKING CAPITAL.


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Board, Officers & Key Employees

Name (title)Compensation
Timothy Smith
Executive Director
$91,124
Amy Kimball
Secretary
$36,444
Mark Lareau
Chair
$0
Leon Berthiaume
Treasurer
$0
Kevin Manahan
Vice Chair
$0
Maureen Brown
Director
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $257,180
All other contributions, gifts, grants, and similar amounts not included above$20,000
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$277,180
Total Program Service Revenue$2,127,446
Investment income $19,662
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 $2,481,929

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Franklin County Industrial has recieved totaling $10,000.

Awarding OrganizationAmount
Salvation Farms Inc

Morrisville, VT

PURPOSE: Supplemental Environmental Project

$10,000
View Grant Recipient Profile

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