Nonprofit · EIN 03-0367034
VERMONT STUDENT DEVELOPMENT FUND INC
Tax-exempt · WINOOSKI, VT 05404
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $17,494,764 | $16,807,150 | $687,614 | $24,646,852 | $10,867,277 | $13,779,575 |
| June 30, 2024 | 990 | $13,719,701 | $13,162,279 | $557,422 | $25,220,619 | $12,734,240 | $12,486,379 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $16,666,996
- of which government grants
- $12,462,689
- Program service revenue
- $0
- Investment income
- $827,768
- Net gain from sales of assets
- $501,542
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $16,793,745
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Program services (functional)
- $16,793,745
- Management and general (functional)
- $13,405
Balance sheet and other
- Total assets, start of year
- $25,220,619
- Total assets, end of year
- $24,646,852
- Total liabilities, end of year
- $10,867,277
- Net assets, end of year
- $13,779,575
- Publicly traded securities
- $12,651,431
- Net assets with donor restrictions
- $13,779,575
- Gross receipts
- $18,649,844
- Employees
- 0
- Volunteers
- 0
- Year formed
- 2000
- 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 June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| Scott A Giles | President and CEO Officer | 0.2 | $0 | $339,174 | $73,321 |
| Patrick J Leduc | VP & COO Officer | 0.2 | $0 | $249,999 | $75,210 |
| Thomas A Little | VP & General Counsel Officer | 1 | $0 | $258,861 | $45,821 |
| Meghan Metzler | VP of Finance & CFO Officer | 0.2 | $0 | $121,025 | $37,404 |
| Michael R Stuart | VP of Finance & CFO Officer, Former | 0.2 | $0 | $70,288 | $26,361 |
| Dorothy R Mitchell | Chair Trustee or director | 0 | $0 | $0 | $0 |
| Martha P Heath | Vice Chair & Programs & Services Comm. Chair Trustee or director | 0 | $0 | $0 | $0 |
| David Larsen | Secretary & Corporate Governance Comm. Chair Trustee or director | 0 | $0 | $0 | $0 |
| Clarence Davis | Director Trustee or director | 0 | $0 | $0 | $0 |
| Michael K Smith | Chair Finance Committee Trustee or director | 0 | $0 | $0 | $0 |
| John McSoley | Chair Audit Committee Trustee or director | 0 | $0 | $0 | $0 |
| Tim Chamberlin | Director Trustee or director | 0 | $0 | $0 | $0 |
| Ryan Dulude | Director Trustee or director | 0 | $0 | $0 | $0 |
| Mike Pieciak | Director Trustee or director | 0 | $0 | $0 | $0 |
| Ann E Cummings | Director Trustee or director | 0 | $0 | $0 | $0 |
2 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Mary-Katherine Stone | Director Trustee or director | 0 | $0 |
| Caleb Elder | Director Former | 0 | $0 |
990 for the year ended June 30, 2024: 17 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| Scott A Giles | President and CEO& Officer | 0.2 | $0 | $327,394 | $69,809 |
| Thomas A Little | VP & General Counsel Officer | 1 | $0 | $244,205 | $51,187 |
| Patrick J Leduc | VP & COO Officer | 0.2 | $0 | $222,037 | $68,390 |
| Michael R Stuart | VP of Finance & CFO Officer, Former | 0.2 | $0 | $115,937 | $42,027 |
| Marilyn J Cargill | VP of Financial Aid Services and Research Officer, Former | 0.2 | $0 | $125,457 | $30,853 |
| Dorothy R Mitchell | Chair Trustee or director | 0 | $0 | $0 | $0 |
| Martha P Heath | Vice Chair & Programs & Services Comm. Chair Trustee or director | 0 | $0 | $0 | $0 |
| David Larsen | Secretary & Corporate Governance Comm. Chair Trustee or director | 0 | $0 | $0 | $0 |
| Clarence Davis | Director Trustee or director | 0 | $0 | $0 | $0 |
| Michael K Smith | Chair Finance Committee Trustee or director | 0 | $0 | $0 | $0 |
| John McSoley | Chair Audit Committee Trustee or director | 0 | $0 | $0 | $0 |
| Tim Chamberlin | Director Trustee or director | 0 | $0 | $0 | $0 |
| Caleb Elder | Director Trustee or director | 0 | $0 | $0 | $0 |
| Ryan Dulude | Director Trustee or director | 0 | $0 | $0 | $0 |
| Mike Pieciak | Director Trustee or director | 0 | $0 | $0 | $0 |
| Ann E Cummings | Director Trustee or director | 0 | $0 | $0 | $0 |
| Meghan Metzler | VP of Finance & CFO Officer | 0.2 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 2000, WINOOSKI, VT 05404-2601
- In care of
- % VERMONT STUDENT ASSISTANCE CORP
- Principal officer (990 for 2024)
- Scott Giles, 10 East Allen Street PO Box 2000, Winooski, VT 05404
- Signed the 990
- Meghan Metzler, VP of Finance/CFO
- Phone
- (802) 654-3714
- Website
- https://www.vsac.org/vsf
Mission
The Vermont Scholarship Fund is a 501(c)(3) charitable affiliate of the Vermont Student Assistance Corporation (VSAC). Our mission is to provide scholarships to Vermonters through gifts and grants from the State of Vermont, Federal agencies, individual donors and philanthropic sources. Together with our supporters we make it possible for more people to aim higher, go further, and build something better for themselves, their families, and the community. We partner closely with our supporters to create scholarship funds that reflect mission and goals to open doors to education for others. We administer all scholarships through VSAC, with ongoing support that makes managing scholarships efficient. In FY25, VSAC awarded about 16.8 million in scholarships through 150 award programs to 4,024 Vermonters.
Program accomplishments
- Scholarships were awarded and disbursed to 4,024 students to support their pursuit of education.Expenses $16,793,745 · grants $16,793,745 · revenue $16,666,996
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 June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 03-0367034
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2000
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B82)
- Assets (IRS master file)
- $24,646,852
- Income (IRS master file)
- $18,649,844
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $17,494,764 | $16,807,150 | $24,646,852 | XML |
| 990 | June 2024 | $13,719,701 | $13,162,279 | $25,220,619 | XML |
| 990 | June 2023 | $10,461,793 | $9,952,137 | $21,466,171 | IRS |
| 990 | June 2022 | – | – | – | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2019 | – | – | – | 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 03-0367034).
Questions about VERMONT STUDENT DEVELOPMENT FUND INC
- What is the EIN of VERMONT STUDENT DEVELOPMENT FUND INC?
- The employer identification number (EIN) of VERMONT STUDENT DEVELOPMENT FUND INC is 03-0367034.
- Is VERMONT STUDENT DEVELOPMENT FUND INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2000.
- Are donations to VERMONT STUDENT DEVELOPMENT FUND INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does VERMONT STUDENT DEVELOPMENT FUND INC 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 VERMONT STUDENT DEVELOPMENT FUND INC due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did VERMONT STUDENT DEVELOPMENT FUND INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of VERMONT STUDENT DEVELOPMENT FUND INC?
- The 990 for the year ended June 30, 2025 names Scott Giles.
- Who are the officers and directors of VERMONT STUDENT DEVELOPMENT FUND INC?
- The 990 for the year ended June 30, 2025 lists 17 people; 0 received compensation from the organization.
- How much revenue does VERMONT STUDENT DEVELOPMENT FUND INC have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $17,494,764, expenses of $16,807,150 and total assets of $24,646,852 at year end.
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