2025-04-08T16:01:58-04:00 2024-06-30 030325875 DAVIS & HODGDON ASSOCIATES CPAS PLC 33 BLAIR PARK RD STE 201 WILLISTON VT 05495 990 2023-07-01 300275435 VERMONT CENTER FOR EMERGING TECHNOLOGIES INC VERM 8662329423 23 MANSFIELD AVENUE BURLINGTON VT 05405 DAVID BRADBURY PRESIDENT 8022536843 2024-04-08 true true BRET HODGDON P00497283 8028781963 2025-04-08 2023 2025-03-06 01:10:19Z DAVID BRADBURY 23 MANSFIELD AVENUE BURLINGTON VT 054051757 1548337 false X WWW.VCET.CO X 2003 VT VCET'S PURPOSE IS TO ACCELERATE INNOVATION AND ENTREPRENEURSHIP ACROSS VERMONT. THIS IS ACCOMPLISHED BY PROVIDING EXPERT MENTORING AND TECHNICAL ASSISTANCE, THE OPERATION OF COWORKING/INCUBATION FACILITIES AND THE OPERATION OF EARLY STAGE SEED CAPITAL VENTURE FUNDS. 10 10 5 0 351485 1177774 261649 275157 40435 73042 0 653569 1525973 0 0 547420 633417 0 46993 222965 306441 770385 939858 -116816 586115 4502777 13421803 32058 8200337 4470719 5221466 X VCET'S PURPOSE IS TO ACCELERATE INNOVATION AND ENTREPRENEURSHIP ACROSS VERMONT. THIS IS ACCOMPLISHED BY PROVIDING EXPERT MENTORING AND TECHNICAL ASSISTANCE, THE OPERATION OF COWORKING/INCUBATION FACILITIES AND THE OPERATION OF EARLY STAGE SEED CAPITAL VENTURE FUNDS. false false 751885 275157 VCET HAS WORKED WITH OVER 3,700 START-UPS, ENTREPRENEURS AND STUDENTS AND OPERATES A COWORKING FACILITY SERVING OVER 250 MEMBERS ANNUALLY. VCET CURATES AN EXPERT MENTOR NETWORK, PROVIDES FREE EXPERT ADVICE TO 377 CLIENTS A YEAR AND MAKES DIRECT INVESTMENTS FROM TWO EVERGREEN VENTURE CAPITAL FUNDS. VCET WORKS DIRECTLY WITH AND SUPPORTS ENTREPRENEURS TO FORM, INCUBATE AND ACCELERATE IDEAS AND INNOVATIONS INTO COMMERCIAL ENTERPRISES. IN 2013, VCET WAS NAMED 11 GLOBALLY AND 5 IN THE US BY THE UBI INDEX. IN 2018, VCET RECEIVED A RURAL IMPACT AWARD BY THE INBIA GLOBAL TRADE ASSOCIATION. IN 2024, VCET WAS AWARDED AS AN INC POWER PARTNER. VISIT AT WWW.VCET.CO AND FOLLOW @VCET ON TWITTER. SERVICES INCLUDE: -PROVIDING COACHING AND MENTORING FROM BOTH ON-SITE AND AFFILIATED EXPERTS AT NO CHARGE TO CLIENTS. -ESTABLISHING CONNECTIONS TO ANGEL INVESTORS, FOUNDATIONS, ECONOMIC DEVELOPMENT ORGANIZATIONS AND VENTURE CAPITAL RESOURCES FOR CAPITAL FORMATION AND SYNDICATES. -ASSISTING WITH GRANTS AND LOANS FROM LOCAL, STATE, AND FEDERAL SOURCES, INCLUDING PROVIDING FEDERAL SBIR APPLICATION AID AND SUPPORT. -OFFERING A NETWORK OF MANAGERIAL, FINANCING AND PROFESSIONAL RESOURCES -BUSINESS ADVISORY, CONSULTING AND COACHING TO HELP COMPANIES BUILD TEAMS, FIND EARLY CUSTOMERS, ACCESS PROTOTYPING FACILITIES AND IDENTIFY ACCESS TO KEY BUSINESS AND FOUNDER SUPPORT RESOURCES -OPERATION OF A COWORKING / ACCELERATOR AND INCUBATION FACILITY SERVING OVER 230 MEMBERS AND THE BROADER VERMONT INNOVATION ECOSYSTEM. -ACCOUNTABILITY AND ENCOURAGEMENT -ENTREPRENEURIAL START-UP ASSISTANCE TO APPROXIMATELY 377 START-UPS, STUDENTS AND ENTREPRENEURS IN FY24. -SEED CAPITAL FUND MANAGEMENT, OPERATION, COMPLIANCE AND PERFORMANCE THAT SUPPORTS ENTREPRENEURS IN CAPITAL FORMATION, OPERATIONAL EXECUTION AND JOB EXPANSION. THE CURRENT VERMONT SEED CAPITAL FUND, LP (FUND 1) HAS NOW BACKED 35 COMPANIES, AND THE NEW VERMONT GROWTH FUND 2, LLC (FUND 2) LAUNCHED AND HAS MADE ONE INVESTMENT THUS FAR. -THE VCET PLATFORM PRODUCES AND CURATES WIDELY ACCESSIBLE PROGRAMS AND SUPPORT RESOURCES SUCH AS: FIRST CHAIR NEWSLETTER,START HERE PODCAST SERIES, THE FEMALE FOUNDER SERIES, STARTUP PERKS PROGRAM AND MEETUPS. -PERFORM AND SUPPORT SPECIAL COMMUNITY EVENTS SUCH AS TECHJAM, UVM SPARK, UVM ARC, MIDDLEBURY INNOVATION HUB, INNOVATION WEEK, DELTACLIMEVT CLIMATE ACCELERATOR, THE MEYERS CUP, AND DOZENS OF RECURRING MEETUPS, TRAININGS AND PROFESSIONAL ENRICHMENT EVENTS. -THE FY24 VCET PORTFOLIO IMPACT SURVEY HAD 21 COMPANIES REPORT GENERATING FOR THE PRIOR 12 MONTHS: 153 MILLION IN REVENUE, 75 MILLION IN PAYROLL ACROSS 693 JOBS, AND 77 MILLION IN CAPITAL RAISED. 751885 true true false false false false false false false false true false true false true false false true false false false false false false false false false false false true false false false false false false false false false false false false false true true true false false true 0 0 5 true false false false false false false false false false false false false false false false false false X 10 10 false false false false false false false true true false false true true true true true false true false false X DAVID BRADBURY 8662329423 23 MANSFIELD AVENUE BURLINGTON VT 05405 FRANK CIOFFI CHAIR 4.00 X X 0 0 0 BRIAR ALPERT VICE CHAIR 2.00 X X 0 0 0 ELIZABETH ROBINSON SEC. & TREAS 1.00 X X 0 0 0 JANETTE BOMBARDIER DIRECTOR 1.00 X 0 0 0 MICHAEL LANE DIRECTOR 1.00 X 0 0 0 SCOTT BAILEY DIRECTOR 1.00 X 0 0 0 ROB FOREGGER DIRECTOR 1.00 X 0 0 0 GAVIN BERGER DIRECTOR 1.00 X 0 0 0 LISA GROENEVELD DIRECTOR 1.00 X 0 0 0 DAVID ARONOFF DIRECTOR 1.00 X 0 0 0 DAVID BRADBURY PRESIDENT 40.00 X 254500 0 61018 SAMANTHA ROACH-GERBER VICE-PRESIDE 40.00 X 117955 0 45924 372455 106942 2 false true false 916354 261420 1177774 RESIDENT CLIENT FEES 531120 156250 156250 MANAGEMENT FEES 525990 118907 118907 275157 64406 64406 31000 22364 8636 8636 8636 1525973 275157 73042 497160 397728 74574 24858 99919 79935 14988 4996 2938 2350 441 147 33400 26720 5010 1670 16599 13279 2490 830 40916 32733 6137 2046 15819 12655 2373 791 14071 11256 2111 704 37802 30242 5670 1890 18186 14549 2728 909 39515 31612 5927 1976 31285 25028 4693 1564 16991 13592 2549 850 16234 12987 2435 812 DUES AND SUBSCRIPTIONS 20980 16784 3147 1049 OUTSIDE SERVICES 15628 12503 2344 781 RENTAL AND SMALL EQUIPMEN 8344 6675 1252 417 MISCELLANEOUS 7882 6306 1182 394 6189 4951 929 309 939858 751885 140980 46993 61309 169972 169465 68696 25000 118660 250 81904 34924 15710 26163 466520 210301 232492 256219 2010917 10264064 3730 21871 1902000 2302000 159234 4502777 13421803 32058 16802 2700 8180835 32058 8200337 X 4470719 5221466 4470719 5221466 4502777 13421803 X 586115 144822 184286 39641 -204117 X false true X true true true X 222606 400722 1224813 351485 1177774 3377400 222606 400722 1224813 351485 1177774 3377400 3377400 345 3293 53761 40435 64406 162240 3539640 1469350 0.95420 0.96110 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 264732 68437 196295 138706 137659 1047 63082 4205 58877 256219 INVESTMENT IN VCET CAPITAL INVESTORS 1902000 C INVESTMENT IN FUND 2, LLC 400000 C 2302000 SBA ADVANCE 7775423 SBA RESERVE 246434 LEASE OBLIGATIONS 266 MAIN 158978 8180835 X X X false false false false false false false false false DAVID BRADBURY PRESIDENT 254500 61018 315518 SAMANTHA ROACH-GERBER VICE-PRESIDENT 117955 45924 163879 FORM 990 - ORGANIZATION'S MISSION VCET'S PURPOSE IS TO ACCELERATE INNOVATION AND ENTREPRENEURSHIP ACROSS VERMONT. THIS IS ACCOMPLISHED BY PROVIDING EXPERT MENTORING AND TECHNICAL ASSISTANCE, THE OPERATION OF COWORKING/INCUBATION FACILITIES AND THE OPERATION OF EARLY STAGE SEED CAPITAL VENTURE FUNDS. FORM 990, PAGE 2, PART III, LINE 4A VCET HAS WORKED WITH OVER 3,700 START-UPS, ENTREPRENEURS AND STUDENTS AND OPERATES A COWORKING FACILITY SERVING OVER 250 MEMBERS ANNUALLY. VCET CURATES AN EXPERT MENTOR NETWORK, PROVIDES FREE EXPERT ADVICE TO 377 CLIENTS A YEAR AND MAKES DIRECT INVESTMENTS FROM TWO EVERGREEN VENTURE CAPITAL FUNDS. VCET WORKS DIRECTLY WITH AND SUPPORTS ENTREPRENEURS TO FORM, INCUBATE AND ACCELERATE IDEAS AND INNOVATIONS INTO COMMERCIAL ENTERPRISES. IN 2013, VCET WAS NAMED 11 GLOBALLY AND 5 IN THE US BY THE UBI INDEX. IN 2018, VCET RECEIVED A RURAL IMPACT AWARD BY THE INBIA GLOBAL TRADE ASSOCIATION. IN 2024, VCET WAS AWARDED AS AN INC POWER PARTNER. VISIT AT WWW.VCET.CO AND FOLLOW @VCET ON TWITTER. SERVICES INCLUDE: -PROVIDING COACHING AND MENTORING FROM BOTH ON-SITE AND AFFILIATED EXPERTS AT NO CHARGE TO CLIENTS. -ESTABLISHING CONNECTIONS TO ANGEL INVESTORS, FOUNDATIONS, ECONOMIC DEVELOPMENT ORGANIZATIONS AND VENTURE CAPITAL RESOURCES FOR CAPITAL FORMATION AND SYNDICATES. -ASSISTING WITH GRANTS AND LOANS FROM LOCAL, STATE, AND FEDERAL SOURCES, INCLUDING PROVIDING FEDERAL SBIR APPLICATION AID AND SUPPORT. -OFFERING A NETWORK OF MANAGERIAL, FINANCING AND PROFESSIONAL RESOURCES -BUSINESS ADVISORY, CONSULTING AND COACHING TO HELP COMPANIES BUILD TEAMS, FIND EARLY CUSTOMERS, ACCESS PROTOTYPING FACILITIES AND IDENTIFY ACCESS TO KEY BUSINESS AND FOUNDER SUPPORT RESOURCES -OPERATION OF A COWORKING / ACCELERATOR AND INCUBATION FACILITY SERVING OVER 230 MEMBERS AND THE BROADER VERMONT INNOVATION ECOSYSTEM. -ACCOUNTABILITY AND ENCOURAGEMENT -ENTREPRENEURIAL START-UP ASSISTANCE TO APPROXIMATELY 377 START-UPS, STUDENTS AND ENTREPRENEURS IN FY24. -SEED CAPITAL FUND MANAGEMENT, OPERATION, COMPLIANCE AND PERFORMANCE THAT SUPPORTS ENTREPRENEURS IN CAPITAL FORMATION, OPERATIONAL EXECUTION AND JOB EXPANSION. THE CURRENT VERMONT SEED CAPITAL FUND, LP (FUND 1) HAS NOW BACKED 35 COMPANIES, AND THE NEW VERMONT GROWTH FUND 2, LLC (FUND 2) LAUNCHED AND HAS MADE ONE INVESTMENT THUS FAR. -THE VCET PLATFORM PRODUCES AND CURATES WIDELY ACCESSIBLE PROGRAMS AND SUPPORT RESOURCES SUCH AS: FIRST CHAIR NEWSLETTER,START HERE PODCAST SERIES, THE FEMALE FOUNDER SERIES, STARTUP PERKS PROGRAM AND MEETUPS. -PERFORM AND SUPPORT SPECIAL COMMUNITY EVENTS SUCH AS TECHJAM, UVM SPARK, UVM ARC, MIDDLEBURY INNOVATION HUB, INNOVATION WEEK, DELTACLIMEVT CLIMATE ACCELERATOR, THE MEYERS CUP, AND DOZENS OF RECURRING MEETUPS, TRAININGS AND PROFESSIONAL ENRICHMENT EVENTS. -THE FY24 VCET PORTFOLIO IMPACT SURVEY HAD 21 COMPANIES REPORT GENERATING FOR THE PRIOR 12 MONTHS: 153 MILLION IN REVENUE, 75 MILLION IN PAYROLL ACROSS 693 JOBS, AND 77 MILLION IN CAPITAL RAISED. FORM 990, PAGE 6, PART VI, LINE 11B VERMONT CENTER FOR EMERGING TECHNOLOGIES MAKES THE 990 AVAILABLE FOR ALL BOARD MEMBERS TO REVIEW PRIOR TO FILING VIA THEIR SECURE PORTAL, VIA EMAIL OR IN HARDCOPY. FORM 990, PAGE 6, PART VI, LINE 12C ANNUALLY, THE DIRECTORS ARE REQUIRED TO DISCLOSE, IN WRITING, ANY KNOWN CONFLICTS AND REAFFIRM THEIR UNDERSTANDING OF VCET'S CONFLICT OF INTEREST POLICY. FORM 990, PAGE 6, PART VI, LINE 15A IN 2022, THE VCET BOARD COMPENSATION COMMITTEE CONDUCTED A FORMAL REVIEW AND EVALUATION OF THE COMPENSATION FRAMEWORK FOR THE PRESIDENT. THE COMPENSATION COMMITTEE SURVEYED COMPARABLE ORGANIZATIONS AND ROLES, SPOKE WITH THIRD PARTY PROFESSIONALS, CONSIDERED THE PRESIDENT'S PERFORMANCE IN MULTIPLE ROLES AND LONG TERM RETENTION INCENTIVES. THE COMMITTEE PRESENTED ITS FINDINGS AND RECOMMENDATIONS TO THE FULL BOARD FOR DISCUSSION AND CONSIDERATION. THE VCET BOARD APPROVED A NEW COMPENSATION FRAMEWORK IN SEPTEMBER 2022. THE PRESIDENT IS SUBJECT TO AN ANNUAL PERFORMANCE REVIEW BY THE ORGANIZATION'S CHAIR. FORM 990, PAGE 6, PART VI, LINE 19 THE ORGANIZATION MAKES CERTAIN OF ITS GOVERNING DOCUMENTS AVAILABLE TO THE PUBLIC, PROVIDING COPIES UPON REQUEST. FORM 990, PART XI, LINE 9 DONATED FACILITIES -184,286 ACQUISITION OF ENTITIES -19,831 TOTAL -204,117 VCET CAPITAL CORPORATION 23 MANSFIELD AVENUE BURLINGTON VT 05401 271918057 INVESTMENT VT NA C CORP -5945 1.00000 false VCET CAPITAL INVESTORS 23 MANSFIELD AVENUE BURLINGTON VT 05401 271922685 INVESTMENT VT NA C CORP -627 2862452 1.00000 false VCET EQUITY CORPORATION 23 MANSFIELD AVENUE BURLINGTON VT 05401 271918005 INVESTMENT VT NA C CORP 11027 1.00000 false false true false true false false false false false false false false false true true false false false true VCET CAPITAL INVESTORS D 31795 FAIR MARKET VALUE VCET CAPITAL CORPORATION N 43500 FAIR MARKET VALUE VCET CAPITAL CORPORATION O 45000 FAIR MARKET VALUE VCET EQUITY CORPORATION R 17849 FAIR MARKET VALUE VCET CAPITAL CORPORATION R 9714 FAIR MARKET VALUE