Central Vermont Memorial Civic Center Inc

Analysis

Central Vermont Memorial Civic Center Inc is a registered charity in United States, based in Montpelier, VT. It received its IRS tax-exemption ruling in November 1995, 31 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2022, Central Vermont Memorial Civic Center Inc reported income of $308k and spending of $352k, spending 114% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income grew from $298k to $308k (+3.3%), an average of +1.1% a year. The sharpest change came in the year to December 2022, when income rose by 35%. Over the whole period it spent 113% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Central Vermont Memorial Civic Center Inc sits at the 59th percentile: it is larger than about 59% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 55th percentile within VT. Charities of a similar size with the same main cause include Design Platform ($308k), Carlisle Area Development Corporation Inc ($308k) and T R Hoover Community Development Corporation Inc ($308k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 10% and program service revenue 83% of the total. Compensation of current officers, directors and key employees was $51k (14% of expenses). Other salaries and wages came to $34k. At year end it held assets of $1.2m against liabilities of $160k, net assets of $1.1m. It reported 6 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.