Nonprofit · EIN 03-0264949
RUTLAND ECONOMIC DEVELOPMENT CORPORATION
Tax-exempt · RUTLAND, VT 05701
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| September 30, 2025 | 990 | $1,725,651 | $1,948,860 | -$223,209 | $3,462,786 | $978,375 | $2,484,411 |
| September 30, 2024 | 990 | $1,750,270 | $1,701,026 | $49,244 | $3,849,591 | $1,141,100 | $2,708,491 |
| September 30, 2023 | 990 | $2,069,858 | $1,166,276 | $903,582 | $3,964,933 | $1,307,547 | $2,657,386 |
Financial details: 990 for the year ended September 30, 2025
Revenue
- Contributions, gifts and grants
- $1,330,299
- of which government grants
- $837,592
- Membership dues
- $210,790
- Program service revenue
- $338,943
- Investment income
- $55,952
- Royalties
- $11,862
- Net income from fundraising events
- -$15,049
- Other revenue
- $457
Expenses
- Grants and similar amounts paid
- $235,338
- Compensation of officers, directors and key employees
- $119,196
- Other salaries and wages
- $536,921
- Salaries, compensation and benefits (total)
- $722,983
- Professional fundraising fees
- $0
- Legal fees
- $2,469
- Accounting fees
- $37,559
- Occupancy
- $148,432
- Travel
- $7,776
- Depreciation
- $65,508
- Program services (functional)
- $1,669,156
- Management and general (functional)
- $185,896
- Fundraising (functional)
- $93,808
Balance sheet and other
- Total assets, start of year
- $3,849,591
- Total assets, end of year
- $3,462,786
- Total liabilities, end of year
- $978,375
- Net assets, end of year
- $2,484,411
- Land, buildings and equipment
- $660,737
- Net assets without donor restrictions
- $1,714,375
- Net assets with donor restrictions
- $770,036
- Gross receipts
- $1,775,560
- Employees
- 14
- Volunteers
- 50
- Year formed
- 1977
- State of legal domicile
- VT
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended September 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| LYLE JEPSON | EXECUTIVE DI Officer | 40 | $116,525 | $3,128 |
| RUSS MARSAN | PRESIDENT Trustee or director, Officer | 1 | $0 | $0 |
| AMY LARAMIE | VICE PRESIDE Trustee or director, Officer | 1 | $0 | $0 |
| CHRIS KEYSER | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| DANIEL MORA | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| MARY COHEN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| SARAH FURMAN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MARY ANN GOULETTE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| GINA GROVE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| BILL MOORE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| TRACI MOORE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| CARLY PERRY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| WENDY PALLOTTA-HEALD | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DAVID SUNDERLAND | DIRECTOR Trustee or director | 1 | $0 | $0 |
| CAMERON SCHAEFER | DIRECTOR Trustee or director | 1 | $0 | $0 |
990 for the year ended September 30, 2024: 20 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| LYLE JEPSON | EXECUTIVE DI Officer | 40 | $113,300 | $3,399 |
| SHANA LOUISELLE | PRESIDENT Trustee or director, Officer | 1 | $0 | $0 |
| RUSS MARSAN | VICE PRESIDE Trustee or director, Officer | 1 | $0 | $0 |
| KAREN GARROW | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| DANIEL MORA | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| JOHN CASELLA III | DIRECTOR Trustee or director | 1 | $0 | $0 |
| SUE BISHOP | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MARY COHEN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| SARAH FURMAN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MARY ANN GOULETTE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| GINA GROVE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ROLF HIRSCHMANN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| CHRIS KEYSER | DIRECTOR Trustee or director | 1 | $0 | $0 |
| AMY LARAMIE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| GREG MCCLALLEN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| BILL MOORE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| TRACI MOORE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KELLEY ROBINSON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| CAMERON SCHAEFER | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MARK WERLE | DIRECTOR Trustee or director | 1 | $0 | $0 |
990 for the year ended September 30, 2023: 23 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| LYLE JEPSON | EXECUTIVE DI Officer | 40 | $108,172 | $3,245 |
| SHANA LOUISELLE | PRESIDENT Trustee or director, Officer | 1 | $0 | $0 |
| RUSS MARSAN | VICE PRESIDE Trustee or director, Officer | 1 | $0 | $0 |
| KAREN GARROW | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| NICOLE KESSELRING | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| JOHN CASELLA III | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JESS ANDERSON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| SUE BISHOP | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MARY COHEN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| RAVEN CRISPINO | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MARY ANN GOULETTE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ALEX HILLIARD | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ROLF HIRSCHMANN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| AMY LARAMIE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DANIEL MORA | DIRECTOR Trustee or director | 1 | $0 | $0 |
| GREG MCCLALLEN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| BILL MOORE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| TRACI MOORE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KELLEY ROBINSON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JOHN RUSSELL III | DIRECTOR Trustee or director | 1 | $0 | $0 |
| CAMERON SCHAEFER | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MARK WERLE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MICHAEL DOENGES | DIRECTOR - T Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 67 MERCHANTS ROW STE 104, RUTLAND, VT 05701-5902
- In care of
- % TYLER RICHARDSON
- Principal officer (990 for 2024)
- SARAH FURMAN, 67 MERCHANTS ROW SUITE 104, RUTLAND, VT 05701
- Signed the 990
- SARAH FURMAN, DIRECTOR
- Phone
- (802) 773-2747
- Website
- WWW.RUTLANDVERMONT.COM
- Return prepared by
- DAVIS & HODGDON ASSOCIATES CPAS PLC
Mission
TO USE COLLABORATION, CREATIVITY, AND INGENUITY TO CREATE A REGIONAL ECONOMIC CLIMATE CONDUCIVE TO BUSINESS GROWTH BY RECRUITING TALENT AND BUSINESSES OF ALL KINDS, GROWING AND RETAINING EMPLOYERS, WHILE CREATING A BRIDGE TO COMMUNITY AND CULTURAL ORGANIZATIONS WHICH PROMOTE HEALTHY AND VIBRANT NEIGHBORHOODS AND ENHANCE THE QUALITY OF LIFE IN RUTLAND COUNTY.
Program accomplishments
- RUTLAND ECONOMIC DEVELOPMENT CORPORATION DOES BUSINESS AS THE CHAMBER & ECONOMIC DEVELOPMENT OF THE RUTLAND REGION(CEDRR). THE PRIMARY GOAL OF CEDRR IS TO FACILITATE THE EXPANSION, RELOCATION AND RETENTION OF BUSINESS AND INDUSTRY IN THE AREA. A CORE FUNCTION OF CEDRR IS TO EXPAND AND CREATE PARTNERSHIPS AND STRATEGIC ALLIANCES TO PROVIDE TECHNICAL ASSISTANCE FOR STARTING AND GROWING SMALL BUSINESSES. TO HELP FULFILL THIS FUNCTION, CEDRR PROVIDES FIXED-RATE LOANS THROUGH ITS REVOLVING LOAN FUND. THE REVOLVING LOAN FUND PROVIDES BUSINESSES WITH LOANS BETWEEN 5,000 - 250,000. AS LOANS ARE REPAID, THEY ARE REINVESTED BY CEDRR IN THE FORM OF NEW LOANS TO OTHER BUSINESSES. CEDRR ALSO WORKS WITH OTHER PARTNERS SUCH AS VERMONT ECONOMIC DEVELOPMENT AUTHORITY (VEDA) AND THE U.S. SMALL BUSINESS ADMINISTRATION (SBA) AS WELL AS PRIVATE AND ALTERNATIVE LENDERS. CEDRR ALSO PROVIDES TECHNICAL SUPPORT, WORKFORCE TRAINING AND DEVELOPMENT PROGRAMS AND BUSINESS PLANNING SUPPORT TO BUSINESSES THROUGHOUT THE REGION BY PROVIDING RESOURCES FOR BUSINESS FINANCING, ASSISTING WITH JOB POSTINGS AND INTERNSHIP OPPORTUNITIES, CREATING WORKFORCE TRAINING PROGRAMS, AND PROVIDING A MAKERSPACE FOR PEOPLE WHO GET NEW BUSINESSES UP AND RUNNING. THE SERVICES NOTED ABOVE ARE INTENDED TO CREATE A BRIDGE BETWEEN BUSINESS AND COMMUNITY TO PROMOTE HEALTHY AND VIBRANT NEIGHBORHOODS AND ENHANCE THE QUALITY OF LIFE IN RUTLAND COUNTY. CEDRR FULFILLS THIS PART OF THEIR MISSION BUT HOSTING EVENTS AND ACTIVITIES THROUGHOUT THE YEAR AND BY BEING A HUB OF RESOURCES FOR THOSE LIVING AND WORKING IN THE REGION. TO FURTHER ITS WORK IN CREATING VIBRANT COMMUNITIES, CEDRR LAUNCHED REAL RUTLAND AFTER IDENTIFYING THE NEED TO INCREASE OUR WORKFORCE AND OVERALL POPULATION IN RUTLAND COUNTY TO SUPPORT THE NECESSARY BUSINESS GROWTH. REAL RUTLAND IS MADE UP OF REAL PEOPLE WHO LIVE, WORK, AND PLAY IN RUTLAND COUNTY, VERMONT. CEDRR STAFF AND ITS DEDICATED VOLUNTEERS ARE PASSIONATE ABOUT THIS REGION, AND ALL ARE PROUD TO CALL RUTLAND COUNTY HOME. SINCE THE BIRTH OF REAL RUTLAND, CEDRR HAVE SEEN OVER 100 INDIVIDUALS RELOCATE, SPECIFICALLY THROUGH THE REAL RUTLAND CONCIERGE PROGRAM. START-UP RUTLAND WAS LAUNCHED IN 2023. START-UP RUTLAND IS AN EDA FUNDED PROGRAM TO HELP SMALL BUSINESSES AND ENTREPRENEURS TO START AND MAINTAIN BUSINESS DEVELOPMENT SKILLS. THE PROGRAM OFFERS EDUCATIONAL CLASSES TO THE LOCAL COMMUNITY MEMBERS TO HELP INCREASE THE KNOWLEDGE OF THE LOCAL WORKFORCE. THE PROGRAM WAS FUNDED BY AN EARMARK IN 2025 AS WELL. CEDRR'S REGIONAL MARKETING PROGRAM HAS BEEN DOING WONDERS WITH HELPING FAMILIES THAT ARE INTERESTED IN MOVING TO THE AREA THROUGH CONCIERGE AND WEEKEND GETAWAY PROGRAMS. CEDRR'S COMMUNITY EVENTS PROGRAM HAS EXCEEDED EXPECTATIONS WITH THE SUCCESS OF BRINGING PEOPLE OUT INTO THE COMMUNITY WITH THE RUTLAND REGION. WHILE BRINGING NEW AND RETURNING INDIVIDUALS INTO THE AREA, IT HAS HIGHLIGHTED SALES AND SERVICE OF DOWNTOWN RUTLAND AND HAS SHOWN SUPPORT OF LOCAL BUSINESSES.
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in September, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | September 30, 2026 | February 15, 2027 | Not due yet |
| 2024 | September 30, 2025 | February 16, 2026 | 990 on file |
| 2023 | September 30, 2024 | February 17, 2025 | 990 on file |
IRS record
- EIN
- 03-0264949
- Tax-exempt status
- 501(c)(6): Business league or chamber of commerce
- Donations deductible
- No
- Exempt since
- 1977
- Accounting year ends
- September
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $3,462,786
- Income (IRS master file)
- $1,775,560
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | September 2025 | $1,725,651 | $1,948,860 | $3,462,786 | XML |
| 990 | September 2024 | $1,750,270 | $1,701,026 | $3,849,591 | XML |
| 990 | September 2023 | $2,069,858 | $1,166,276 | $3,964,933 | XML |
| 990 | September 2022 | $962,268 | $752,699 | $2,569,298 | IRS |
| 990 | September 2021 | – | – | – | IRS |
| 990 | September 2020 | – | – | – | IRS |
| 990 | September 2019 | – | – | – | IRS |
| 990 | September 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 03-0264949).
Questions about RUTLAND ECONOMIC DEVELOPMENT CORPORATION
- What is the EIN of RUTLAND ECONOMIC DEVELOPMENT CORPORATION?
- The employer identification number (EIN) of RUTLAND ECONOMIC DEVELOPMENT CORPORATION is 03-0264949.
- Is RUTLAND ECONOMIC DEVELOPMENT CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(6) since 1977.
- Are donations to RUTLAND ECONOMIC DEVELOPMENT CORPORATION tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does RUTLAND ECONOMIC DEVELOPMENT CORPORATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of RUTLAND ECONOMIC DEVELOPMENT CORPORATION due?
- The return for tax year 2025 (the year ending September 30, 2026) is due February 15, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did RUTLAND ECONOMIC DEVELOPMENT CORPORATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended September 2025.
- Who is the principal officer of RUTLAND ECONOMIC DEVELOPMENT CORPORATION?
- The 990 for the year ended September 30, 2025 names SARAH FURMAN.
- Who are the officers and directors of RUTLAND ECONOMIC DEVELOPMENT CORPORATION?
- The 990 for the year ended September 30, 2025 lists 15 people; 1 received compensation from the organization, the highest $116,525 (LYLE JEPSON, EXECUTIVE DI).
- How much revenue does RUTLAND ECONOMIC DEVELOPMENT CORPORATION have?
- On its 990 for the year ended September 30, 2025 it reported revenue of $1,725,651, expenses of $1,948,860 and total assets of $3,462,786 at year end.
Other nonprofits in RUTLAND
- RUTLAND HOSPITAL INC EIN 03-0183483 · last filed 990 for 2025
- COMMUNITY HEALTH CENTERS OF THE RUTLAND REGION INC EIN 22-1179701 · last filed 990 for 2024
- RUTLAND MENTAL HEALTH SERVICE INC EIN 03-0210725 · last filed 990 for 2025
- VNA & HOSPICE OF THE SOUTHWEST REGION INC EIN 03-0185024 · last filed 990 for 2025
- BROC-COMMUNITY ACTION IN SOUTHWESTERN VERMONT EIN 03-0216505 · last filed 990 for 2025
- SOUTHWESTERN VERMONT COUNCIL ON AGING INC EIN 03-0273983 · last filed 990 for 2025
- REGIONAL AMBULANCE SERVICE INC EIN 03-0286379 · last filed 990 for 2025
- RUTLAND WEST NEIGHBORHOOD HOUSING SERVICES INC EIN 03-0301526 · last filed 990 for 2024