Vsecu Foundation
- Assets
- $241.8k
- Revenue
- $91.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Montpelier, VT
- Founding
- Data as of
- 12/2023
- EIN
- 87-4079773
Organization Overview
Vsecu Foundation is located in Montpelier, VT. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Vsecu Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Vsecu Foundation generated $91.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (59.4%) each year. All expenses for the organization totaled $375.4k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2022, Vsecu Foundation has awarded 15 individual grants totaling $387,029. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
DONATED (OR APPROVED) CONTRIBUTIONS TO ORGANIZATIONS THAT ALIGN WITH THE FOUNDATION'S SUSTAINABLE PRINCIPLES THAT FOCUS ON THE ESSENTIAL NEEDS OF VERMONTERS AND COMMUNITY IN THE FOLLOWING AREAS: FOOD SECURITY, ACCESS TO HOUSING, FINANCIAL WELLBEING, CONNECTED COMMUNITIES, AND ENVIRONMENTAL STEWARDSHIP. APPROXIMATELY $250,000 OF TOTAL DONATIONS DISBURSED BY THE FOUNDATION DURING 2023 WERE FUNDS THAT AIDED IN NUMEROUS ORGANIZATIONS' FLOOD RESPONSE EFFORTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Simeon Chapin President | 3 | $0 | |
George Sales Vice-President | 1 | $0 | |
Kasey Cleaves Treasurer | 1 | $0 | |
Abbi Kiley Secretary | 1 | $0 | |
Heather Neuwirth Lovejoy Diretor | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $91,004 |
| Interest on Savings | $813 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $91,817 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $50 |
| Total operating and administrative expenses | $19,433 |
| Contributions, gifts, grants paid | $355,929 |
| Total expenses and disbursements | $375,362 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $11,852 |
| Savings and temporary cash investments | $229,916 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $241,768 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Vsecu Foundation has awarded $355,929 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
CAPSTONE COMMUNITY ACTION INC (FLOOD EMERGENCY RELIEF) PURPOSE: TO ASSIST THE ORGANIZATION IN ITS FLOOD RESPONSE EFFORTS. | $30,000 |
BARRE COMMUNITY RELIEF FUND INC PURPOSE: TO ASSIST THE ORGANIZATION IN ITS FLOOD RESPONSE EFFORTS. | $20,000 |
VERMONT FOODBANK INC PURPOSE: TO ASSIST THE ORGANIZATION IN ITS MISSION TO PROVIDE HUNGER RELIEF. | $90,929 |
CHAMPLAIN VALLEY OEO INC PURPOSE: TO ASSIST THE ORGANIZATION IN ITS FLOOD RESPONSE EFFORTS. | $30,000 |
BROC COMMUNITY ACTION IN SOUTHWESTERN VERMONT PURPOSE: TO ASSIST THE ORGANIZATION IN ITS FLOOD RESPONSE EFFORTS. | $30,000 |
NORTHEAST KINGDOM ACTION COMMITTEE PURPOSE: TO ASSIST THE ORGANIZATION IN ITS FLOOD RESPONSE EFFORTS. | $30,000 |