2024-11-04T14:34:24-07:00 2024-06-30 990 2023-07-01 030367034 VERMONT STUDENT DEVELOPMENT FUND INC VERM 8026543714 10 East Allen St PO Box 2000 Winooski VT 05404 Meghan Metzler VP of Finance/CFO 8026543746 2024-11-04 1 2023 2024-10-15 13:58:12Z Vermont Scholarship Fund Scott Giles 10 East Allen St PO Box 2000 Winooski VT 05404 14201902 0 X https://www.vsac.org/vsf X 2000 VT The mission of the Vermont Student Development Fund is to seek, invest and maintain monetary and other support for scholarships and other financial assistance to individuals seeking a post secondary education or training. 11 11 0 0 0 0 10205782 13330920 0 0 256011 388781 0 0 10461793 13719701 9952137 13154249 0 0 0 0 0 0 0 0 8030 9952137 13162279 509656 557422 21466171 25220619 11421366 12734240 10044805 12486379 The Vermont Scholarship Fund is a 501(c)(3) charitable affiliate of the Vermont Student Assistance Corporation. Our mission is to provide scholarships to Vermonters through gifts from individual donors and philanthropic sources. Together with our Donors we make it possible for more Vermonters to aim higher, go further, and build something better for themselves, for their families, for their community, and for our shared world. We partner closely with our donors to create scholarship funds that reflect their personal and philanthropic values as well as their financial goals, so they can help open the doors to higher education for others. We administer all scholarships through VSAC, with ongoing support that makes managing a scholarship easy. VSAC currently awards about 13.2 million in scholarships through 149 award programs to 3,527 Vermonters. 0 0 13154249 13154249 0 Scholarships were awarded and disbursed to 3,527 students to support their pursuit of higher education. 0 0 0 13154249 1 1 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 11 11 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 X X X Meghan Metzler 8026543721 10 East Allen St PO Box 2000 Winooski VT 05404 Scott A Giles President and CEO& 0.2 37.5 X 0 327394 69809 Thomas A Little VP & General Counsel 1 37.5 X 0 244205 51187 Patrick J Leduc VP & COO 0.2 37.5 X 0 222037 68390 Michael R Stuart VP of Finance & CFO 0.2 22.50 X X 0 115937 42027 Marilyn J Cargill VP of Financial Aid Services and Research 0.2 37.5 X X 0 125457 30853 Dorothy R Mitchell Chair 0 1 X 0 0 0 Martha P Heath Vice Chair & Programs & Services Comm. Chair 0 1 X 0 0 0 David Larsen Secretary & Corporate Governance Comm. Chair 0 1 X 0 0 0 Clarence Davis Director 0 1 X 0 0 0 Michael K Smith Chair Finance Committee 0 1 X 0 0 0 John McSoley Chair Audit Committee 0 1 X 0 0 0 Tim Chamberlin Director 0 1 X 0 0 0 Caleb Elder Director 0 1 X 0 0 0 Ryan Dulude Director 0 1 X 0 0 0 Mike Pieciak Director 0 1 X 0 0 0 Ann E Cummings Director 0 1 X 0 0 0 Meghan Metzler VP of Finance & CFO 0.2 37.5 X 0 0 0 0 1035030 262266 0 1 1 0 0 0 0 0 0 9318527 4012393 0 13330920 0 292056 0 0 292056 0 0 0 0 0 0 0 0 0 0 578926 0 482201 0 96725 0 96725 0 0 96725 0 0 13719701 0 0 388781 0 0 13154249 13154249 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 8030 0 8030 0 0 0 0 0 0 0 0 0 0 0 0 0 13162279 13154249 8030 0 11484598 13675074 9981573 11451967 93578 21466171 25220619 11396559 12702558 24807 31682 11421366 12734240 X 0 0 10044805 12486379 10044805 12486379 21466171 25220619 557422 984842 0 0 899310 0 X 0 1 X 1 1 1 X 6852762 7434153 10038133 10205782 13330920 47861750 0 0 0 0 0 0 0 0 0 0 0 0 6852762 7434153 10038133 10205782 13330920 47861750 13175170 34686580 135371 131815 149070 185911 292056 894223 0 0 0 0 0 0 0 0 0 0 0 0 48755973 0 0.71143 0.65790 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 10944115 580560 1377857 416153 0 0 12486379 9516510 675556 901555 149506 0 0 10944115 10307447 691230 -1237182 244985 0 0 9516510 8531876 156892 1854543 235864 0 0 10307447 7102391 1110067 562334 242916 0 0 8531876 0 0.92 0.08 0 0 0 Unapplied cash receipts 500 Due to affiliated organization VSAC 31182 31682 14704543 984842 0 0 0 984842 13719701 0 0 0 13719701 13162279 0 0 0 0 0 13162279 0 0 0 13162279 Schedule D, Part V, Line 4 The Organization's endowment funds are used as directed by the donors to hold and invest and to provide scholarships for the higher education of Vermont students. 1 Scholarships-Federal Programs 723 2295025 0 Scholarships-Vermont State Programs 1433 7023502 0 Scholarships-Private Annual 1248 3524982 0 Scholarships-Private Termed Endowments 21 69868 0 Scholarships-Private Permanent Endowments 102 240872 0 Schedule I, Part I, Line 2 The awarding of scholarships by VSDF is performed by its related organization VSAC to insure that all funds are awarded and disbursed in accordance with the donors' directives. VSAC maintains a complete staff of experts in its Grants and Scholarships departments using the latest information technologies to insure the quality of the process. Additionally, all funds received from the Federal programs are subject to VSAC's annual Uniform Guidance (Single Audit) requirement. Certain of the larger private programs are audited at those donors' request and all scholarship expenditures are open to inspection by the donors. Additionally, except for a few cases of donor preference, VSDF awards are disbursed directly to the higher education institution selected by the recipient. In the few cases where this is not the donors' wish VSDF and VSAC work to encourage this practice. 0 0 0 0 0 0 0 0 0 Scott A Giles President and CEO& 0 293052 0 17601 0 16741 0 39547 0 30262 0 397203 0 0 Thomas A Little VP & General Counsel 0 223508 0 13439 0 7258 0 28300 0 22887 0 295392 0 0 Michael R Stuart VP of Finance & CFO 0 109035 0 6902 0 0 0 11992 0 30035 0 157964 0 0 Marilyn J Cargill VP of Financial Aid Services and Research 0 107841 0 11909 0 5707 0 12277 0 18576 0 156310 0 0 Patrick J Leduc VP & COO 0 207806 0 11909 0 2322 0 26303 0 42087 0 290427 0 0 Schedule J, Part I, Line 3 VSDF's CEO is recruited, employed and compensated by a related organization, the Vermont Student Assistance Corporation (VSAC). This related organization uses the following to establish and document the compensation of the CEO: compensation survey, written employment contract, and approval of the Board of Directors. Form 990, Part VI, Section B, Line 11b This return is prepared by the Controller and is reviewed by the Vice President & CFO and the Vice President & Chief Legal Counsel. A complete copy of the Form 990 is presented and reviewed by management with the Audit Committee of the Board of Directors prior to filing. A complete copy of the Form 990 is also made available to the full Board of Directors prior to filing. Form 990, Part VI, Section B, Line 12c On an annual basis each Board member and officer is required to complete a questionnaire disclosing any relationships which might violate the Organization's policy regarding conflicts of interest. In the event such a conflict were to exist the Organization would conduct a follow-up investigation and take appropriate steps to insure that the conflict relationship did not continue or persist. Form 990, Part VI, Section C, Line 19 VSDF is governed by the policies and decisions of the Vermont Student Assistance Corporation (VSAC) and is a component unit of that entity. Consequently the financial statements of VSDF are consolidated with those of VSAC. The consolidated annual audited financial statements are available on the website www.vsac.org. Quarterly unaudited financial statements of VSDF are also available at this same site. VSAC's and VSDF's governing documents and conflicts of interest policies are public records of the State of Vermont and will be made available upon request. Vermont Student Assistance Corporation 10 East Allen Street PO Box 2000 Winooski VT 05404 030216589 Counseling and financial assistance to post secondary Vermont students VT 501(c)(3) 7 N/A 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 0 0