2024-10-23T11:43:19-05:00 2024-06-30 030225774 GALLAGHER FLYNN & COMPANY LLP 725 COMMUNITY DRIVE SUITE 401 SOUTH BURLINGTON VT 05403 990 2023-07-01 030221525 LAMOILLE ECONOMIC DEVELOPMENT CORP LAMO 8028885640 PO BOX 455 MORRISVILLE VT 05661 PATRICK RIPLEY EXECUTIVE DIRECTOR/SECRETARY 8028885640 2024-10-23 1 1 AMY L WOOD P02457252 8028631331 2024-10-21 2023 2024-10-15 13:58:12Z PATRICK RIPLEY PO BOX 455 MORRISVILLE VT 05661 277867 0 X WWW.LAMOILLEECONOMY.ORG X 1968 VT LEDC'S MISSION IS TO STRENGTHEN LAMOILLE COUNTY'S ECONOMY THROUGH FACILITATING THE CREATION AND EXPANSION OF JOBS AND BUSINESSES AND INVESTING IN THE PROSPERITY OF LAMOILLE COUNTY'S COMMUNITIES. 9 9 1 0 0 0 24174 142067 72755 85055 8401 22035 0 0 105330 249157 2500 32800 0 0 97885 100139 0 0 0 63380 70772 163765 203711 -58435 45446 848077 935686 107298 107890 740779 827796 LEDC'S MISSION IS TO STRENGTHEN LAMOILLE COUNTY'S ECONOMY THROUGH FACILITATING THE CREATION AND EXPANSION OF JOBS AND BUSINESSES AND INVESTING IN THE PROSPERITY OF LAMOILLE COUNTY'S COMMUNITIES. 0 0 85055 LEDC OPERATES JOINTLY WITH THE LAMOILLE CHAMBER OF COMMERCE TO STRENGTHEN THE ECONOMY IN LAMOILLE COUNTY THROUGH FINANCING, JOB CREATION, CONSULTING, BUSINESS RECRUITMENT AND RETENTION, ECONOMIC DEVELOPMENT, MARKETING, LEGISLATIVE ADVOCACY, AND OTHER SUPPORT SERVICES AVAILABLE TO ALL BUSINESSES IN ALL COMMERCIAL SECTORS. 0 1 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 2 0 1 1 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 0 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X BONNIE PARKER 8022498642 PO BOX 168 GRANITEVILLE VT 05654 JOSEPH WOODIN DIRECTOR 1.00 X 0 0 0 TINA NORTON TREASURER 1.00 X X 0 0 0 GREG TATRO PRESIDENT 1.00 X X 0 0 0 MARK VANDENBERG VICE PRESIDENT 1.00 X X 0 0 0 JEREMY ELLIOTT DIRECTOR 1.00 X 0 0 0 ERIK REMMERS DIRECTOR 1.00 X 0 0 0 PATRICK RIPLEY EXECUTIVE DIRECTOR 40.00 X X 85000 0 7500 GEOFFREY LINDEMER DIRECTOR 1.00 X 0 0 0 DODY DAY DIRECTOR 1.00 X 0 0 0 CONRAD HARRIS DIRECTOR 1.00 X 0 0 0 85000 0 7500 0 0 0 0 0 X 142067 142067 MEMBER DUES 900099 47875 47875 COMMISSIONS 900099 32188 32188 SERVICE/ADMIN FEES 900099 3527 3527 LOAN INTEREST INCOME 900099 1465 1465 85055 20330 20330 30415 28710 1705 1705 1705 249157 85055 0 22035 X 32800 93388 6751 15018 27600 3969 9148 2160 867 2521 ANNUAL MEETING 6120 3369 203711 32711 38203 435056 512206 5424 32921 22180 1400 315565 363097 25000 0 848077 935686 8201 9513 99097 98377 107298 107890 X 740779 827796 740779 827796 848077 935686 45446 41571 0 X X 1 X 0 0 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 1 0 0 USDA REVOLVING LOAN FUND PAYABLE 97178 LOAN LOSS RESERVE FUNDS 1199 98377 X PART X, LINE 2: LEDC IS A NOT-FOR-PROFIT ORGANIZATION AS DESCRIBED IN SECTION 501(C)(6) OF THE INTERNAL REVENUE CODE AND IS EXEMPT FROM FEDERAL INCOME TAXES ON RELATED INCOME. EACH YEAR, MANAGEMENT CONSIDERS WHETHER ANY MATERIAL TAX POSITION LEDC HAS TAKEN IS MORE LIKELY THAN NOT TO BE SUSTAINED UPON EXAMINATION BY THE APPLICABLE TAXING AUTHORITY. MANAGEMENT BELIEVES THAT ANY POSITIONS LEDC HAS TAKEN ARE SUPPORTED BY SUBSTANTIAL AUTHORITY AND, THEREFORE, DO NOT NEED TO BE MEASURED OR DISCLOSED IN THE FINANCIAL STATEMENTS. LEDC IS SUBJECT TO INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR THREE YEARS FOLLOWING THE DATE OF FILING. 0 TOWN OF JOHNSON 293 LOWER MAIN STREET JOHNSON VT 05656 25000 0 MARKET FEASIBILITY STUDY FOR PROPOSED NEW INDUSTRIAL PARK 1 PART I, LINE 2: MANAGEMENT HAS ONGOING INTERACTION WITH GRANTEES AND REVIEWS GRANTEE PERFORMANCE AT MINIMUM ON AN ANNUAL BASIS. FORM 990, PART VI, SECTION A, LINE 7A ELECTION OF MEMBERS AND THEIR RIGHTS: THE MEMBERS SHALL NOT EXERCISE THEIR POWER TO DISSOLVE LEDC, ALTER ITS STATUS AS A NON-PROFIT CORPORATION, OR CHANGE THE CORPORATION'S PURPOSES, EXCEPT PURSUANT TO THE PROVISIONS OF THE LAWS OF THIS STATE, THE ARTICLES OF INCORPORATION OR THESE BYLAWS. FORM 990, PART VI, SECTION A, LINE 7B DECISIONS SUBJECT TO APPROVAL OF MEMBERS: ALL ACTIVITIES AND AFFAIRS OF LEDC SHALL BE CONDUCTED AND ALL CORPORATE POWERS SHALL BE EXERCISED UNDER THE DIRECTION OF THE BOARD OF DIRECTORS. THERE IS NO APPROVAL FROM THE MEMBERS NEEDED. FORM 990, PART VI, SECTION B, LINE 11B THE 990 TAX RETURN IS REVIEWED BY THE EXECUTIVE DIRECTOR AND THE BOARD OF DIRECTORS BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C DURING BOARD MEETINGS, AT WHICH FINANCIAL AND OTHER TRANSACTIONS OF CONSEQUENCE ARE DISCUSSED AND/OR VOTED ON, THE QUESTION IS ASKED IF ANY BOARD MEMBER OR EXECUTIVE DIRECTOR HAVE ANY CONFLICT OF INTEREST WITH THE CURRENT TRANSACTIONS AND MATTERS BEING DISCUSSED. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION OF THE EXECUTIVE DIRECTOR IS REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS OR COMPENSATION COMMITTEE OF THE ORGANIZATION. THE COMPENSATION OF THE EXECUTIVE DIRECTOR IS REVIEWED AND APPROVED USING DATA AS TO COMPARABLE COMPENSATION FOR SIMILARLY QUALIFIED PERSONS IN FUNCTIONALLY COMPARABLE POSITIONS AT OTHER ECONOMIC DEVELOPMENT CORPORATIONS IN VERMONT. FORM 990, PART VI, SECTION C, LINE 19 SEE DISCLOSURES FORM 990, PART VIII, PART 1F THE STATE OF VERMONT GRANT IS AN ANNUAL GRANT AWARDED TO LEDC FOR A TERM THAT IS INTENDED TO PROVIDE FUNDING FOR LEDC'S FISCAL YEAR, FROM JULY THROUGH THE FOLLOWING JUNE. THE GRANT REQUIRES LEDC TO CONDUCT CERTAIN ACTIVITIES RELATED TO ITS MISSION, WHICH ARE GENERALLY PERFORMED EVENLY OVER EACH GRANT TERM. THIS GRANT COMPRISES LEDC'S LARGEST CONTRIBUTOR, AS DISCLOSED IN SCHEDULE B. THE AMOUNT RECOGNIZED AS GRANT REVENUE IN A GIVEN YEAR FLUCTUATES BASED ON THE DATE ON WHICH THE GRANT IS APPROVED BY THE GRANTOR, WHICH TYPICALLY OCCURS IN JUNE OR JULY. FORM 990, PART IX, LINE 11G CONTRACT LABOR 27,600. FORM 990, PART XII, LINE 2C THERE HAS BEEN NO CHANGE IN THE SELECTION OR OVERSIGHT PROCESS FROM THE PRIOR YEAR.