Vermont Center for Emerging Technologies Inc

Analysis

Vermont Center for Emerging Technologies Inc is a registered charity in United States, based in Burlington, VT. It received its IRS tax-exemption ruling in July 2005, 21 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 June 2023, Vermont Center for Emerging Technologies Inc reported income of $654k and spending of $770k, spending 118% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $253k to $654k (+158%), an average of +37% a year. The sharpest change came in the year to June 2021, when income rose by 274%. Over the whole period it spent 82% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Vermont Center for Emerging Technologies Inc sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 70th percentile within VT. Charities of a similar size with the same main cause include Empowerment Zone Coalition ($653k), Innovative Concepts Inc ($654k) and Commonwise Education Inc ($653k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 54% and program service revenue 40% of the total. Compensation of current officers, directors and key employees was $455k (59% of expenses). Other salaries and wages came to $67k. At year end it held assets of $4.5m against liabilities of $32k, net assets of $4.5m. It reported 8 employees.