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INVESTING IN PEOPLE AND COMMUNITIES TO CREATE A JUST AND THRIVING VERMONT
Source: IRS Form 990 (Tax Year 2024)
Source: IRS e-Filed Form 990 (from the IRS e-File system), Tax Year 2024
Total Revenue
▼$3.7M
Program Spending
76%
of total expenses go to program services
Total Contributions
$1M
Total Expenses
▼$3.2M
Total Assets
$54M
Total Liabilities
▼$35.9M
Net Assets
$18.2M
Officer Compensation
→$223.7K
Other Salaries
$1.3M
Investment Income
$780.7K
Fundraising
▼N/A
Source: USAspending.gov · Searched by organization name
Total Federal Funding
$14.3M
Awards Found
37
Department of the Treasury
$500K
PURPOSE: TO PROMOTE ECONOMIC REVITALIZATION AND COMMUNITY DEVELOPMENT THROUGH INVESTMENT IN AND FINANCIAL ASSISTANCE TO COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS (CDFIS). PLANNED ACTIVITIES: FINANCIAL ASSISTANCE MUST BE USED FOR FINANCIAL PRODUCTS, FINANCIAL SERVICES (REGULATED INSTITUTIONS ONLY), DEVELOPMENT SERVICES, LOAN LOSS RESERVES, AND CAPITAL RESERVES (REGULATED INSTITUTIONS ONLY), IN AN ELIGIBLE MARKET OR THE RECIPIENT’S APPROVED TARGET MARKET. END GOALS: THE GOAL OF THE FINANCIAL ASSISTANCE IS FOR CDFIS TO BUILD THEIR FINANCIAL CAPACITY TO LEND TO ELIGIBLE MARKETS AND/OR THEIR TARGET MARKETS, IN ORDER TO SERVE RURAL AND URBAN LOW INCOME PEOPLE, AND COMMUNITIES ACROSS THE NATION THAT LACK ADEQUATE ACCESS TO AFFORDABLE FINANCIAL PRODUCTS AND FINANCIAL SERVICES. BENEFICIARIES: PROFIT ORGANIZATION, PRIVATE NONPROFIT INSTITUTION/ORGANIZATION, OTHER PRIVATE INSTITUTION/ORGANIZATION INVESTMENT AREAS AND TARGETED POPULATIONS, AS DEFINED IN 12 C.F.R. 1805. SUBRECIPIENTS: THERE ARE NO SUBRECIPIENTS FOR THIS PROGRAM. BROADBAND: SPECIFIC ACTIVITIES RELATING TO BROADBAND USAGE ARE NOT KNOWN AT THE TIME OF AWARD. REASON/PURPOSE OF MODIFICATION: THE RIEGLE ACT (P.L. 103 325), THE STATUTE WHICH AUTHORIZES THE CDFI PROGRAM, REQUIRES THAT FINANCIAL ASSISTANCE AWARDS, INCLUDING BASE FINANCIAL ASSISTANCE (BASE FA), DISABILITY FUNDS FINANCIAL ASSISTANCE (DF FA), AND PERSISTENT POVERTY COUNTIES FINANCIAL ASSISTANCE (PPC FA), BE MATCHED WITH FUNDS FROM NON FEDERAL GOVERNMENT SOURCES AND COMPARABLE IN FORM AND VALUE TO THE FA AWARD. MODIFICATIONS WOULD BE REQUIRED IF THERE IS A CHANGE IN THE FORM AND/OR AMOUNT ORIGINALLY OBLIGATED FOR THE AWARD, BASED ON APPROVED MATCHING FUNDS. NOTE: MATCHING FUNDS ARE REQUIRED ONLY FOR ORGANIZATIONS APPLYING AS CATEGORY II/CORE FA APPLICANTS UNDER THE CDFI PROGRAM. MATCHING FUNDS ARE NOT REQUIRED FOR ANY NATIVE CDFI APPLICANTS OR HOUSING PRODUCTION FINANCIAL ASSISTANCE AWARDS (HP FA). ADDITIONALLY, MATCHING FUNDS ARE NOT REQUIRED FOR SMALL AND EMERGING CDFI ASSISTANCE (SECA) FA APPLICANTS AND HEALTHY FOOD FINANCING INITIATIVES (HFFI) FA APPLICANTS, PENDING FINAL FY 2025 APPROPRIATIONS LANGUAGE.
Small Business Administration
$170.7K
THE SMALL BUSINESS ADMINISTRATION (SBA) MICROLOAN PROGRAM PROVIDES DIRECT LOANS AND GRANTS TO ELIGIBLE NON-PROFIT MICROLENDERS SO THAT THEY MAY PROVIDE MICRO-LEVEL LOANS, AND BUSINESS BASED TRAINING AND TECHNICAL ASSISTANCE TO START- UP, NEWLY ESTABLISHED AND GROWING SMALL BUSINESS CONCERNS.
Small Business Administration
$166K
VERMONT COMMUNITY LOAN FUND INC. - VT
Small Business Administration
$166K
TRAINING AND TECHNICAL ASSISTANCE TO SBA MICROLOAN PROGRAM BORROWERS AND PROSPECTIVE BORROWERS.
Small Business Administration
$124.5K
VERMONT COMMUNITY LOAN FUND INC. - VT TO ASSIST ALL ENTREPRENEURS BUSINESS OWNERS AND OTHER INDIVIDUALS POSSESSING THE CAPABILITY TO OPERATE SUCCESSFUL BUSINESS CONCERNS AND TO ASSIST SMALL BUSINESS CONCERNS IN THOSE AREAS SUFFERING FROM A LACK OF CREDIT DUE TO ECONOMIC DOWNTURNS UNDER THE PROGRAM THE SMALL BUSINESS ADMINISTRATION SBA WILL MAKE LOANS OR PROVIDE GUARANTIES TO PRIVATE NON PROFIT AND QUASI GOVERNMENTAL ORGANIZATIONS INTERMEDIARY LENDERS THAT WILL USE THE LOAN FUNDS TO MAKE SHORT TERM FIXED INTEREST RATE MICROLOANS IN AMOUNTS UP TO 50000 DOLLARS TO START UP NEWLY ESTABLISHED AND GROWING SMALL BUSINESS CONCERNS THESE MICROLOANS ARE TO BE USED EXCLUSIVELY FOR WORKING CAPITAL INVENTORY SUPPLIES FURNITURE FIXTURES MACHINERY AND OR EQUIPMENT IN ADDITION THE SBA WILL MAKE GRANTS TO PARTICIPATING INTERMEDIARY LENDERS TO PROVIDE MARKETING MANAGEMENT AND TECHNICAL ASSISTANCE TO PROSPECTIVE BORROWERS AND BORROWERS RECEIVING MICROLOANS UNDER THE PROGRAM SBA WILL ALSO PROVIDE TRAINING FOR INTERMEDIARY LENDE
Department of Agriculture
$100K
SEC. 6022 RMAP-RURAL DEVELOP GRANTS (MAN)
Small Business Administration
$83.5K
THE SMALL BUSINESS ADMINISTRATION (SBA) MICROLOAN PROGRAM PROVIDES DIRECT LOANS AND GRANTS TO ELIGIBLE NON-PROFIT MICROLENDERS SO THAT THEY MAY PROVIDE MICRO-LEVEL LOANS, AND BUSINESS BASED TRAINING AND TECHNICAL ASSISTANCE TO START- UP, NEWLY ESTABLISHED AND GROWING SMALL BUSINESS CONCERNS.
Department of Agriculture
$50K
RURAL BUSINESS ENTERPRISE GRANTS - EZ/EC
Small Business Administration
$49.4K
MICROLOAN PROGRAM - TECHNICAL ASSISTANCE GRANT
Department of Agriculture
$33.6K
SEC. 6022 RMAP-RURAL MICRO DEVELOP ORGANIZATIONS GRANTS (DISC)
Department of Agriculture
$19.3K
SEC. 6022 RMAP-RURAL DEVELOP GRANTS (MAN)
Department of Agriculture
$11.6K
SEC. 6022 RMAP-RURAL MICRO DEVELOP ORGANIZATIONS GRANTS (DISC)
Department of Agriculture
$1,693
SEC. 6022 RMAP-RURAL MICRO DEVELOP ORGANIZATIONS GRANTS (DISC)
Source: Federal Audit Clearinghouse (fac.gov)
Total Audits
10
Clean Audits
10
Material Weakness
No
Noncompliance Issues
No
| Year | Status | Financial Report | Federal Expenditure | Low Risk | Accepted |
|---|---|---|---|---|---|
| 2025 | Clean | Unmodified (Clean) | $2M | Yes | 2026-04-13 |
| 2024 | Clean | Unmodified (Clean) | $2.5M | Yes | 2025-04-30 |
| 2023 | Clean | Unmodified (Clean) | $1.5M | Yes | 2024-05-13 |
| 2022 | Clean | Unmodified (Clean) | $2.2M | Yes | 2023-05-21 |
| 2021 | Clean | Unmodified (Clean) | $4.5M | Yes | 2022-05-03 |
| 2020 | Clean | Unmodified (Clean) | $2.3M | Yes | 2021-05-04 |
| 2019 | Clean | Unmodified (Clean) | $2.1M | Yes | 2020-11-30 |
| 2018 | Clean | Unmodified (Clean) | $3M | Yes | 2019-05-02 |
| 2017 | Clean | Unmodified (Clean) | $1.4M | Yes | 2018-04-23 |
| 2016 | Clean | Unmodified (Clean) | $1.9M | Yes | 2017-05-03 |
Financial Report
Unmodified (Clean)
Federal Expenditure
$2M
Financial Report
Unmodified (Clean)
Federal Expenditure
$2.5M
Financial Report
Unmodified (Clean)
Federal Expenditure
$1.5M
Financial Report
Unmodified (Clean)
Federal Expenditure
$2.2M
Financial Report
Unmodified (Clean)
Federal Expenditure
$4.5M
Financial Report
Unmodified (Clean)
Federal Expenditure
$2.3M
Financial Report
Unmodified (Clean)
Federal Expenditure
$2.1M
Financial Report
Unmodified (Clean)
Federal Expenditure
$3M
Financial Report
Unmodified (Clean)
Federal Expenditure
$1.4M
Financial Report
Unmodified (Clean)
Federal Expenditure
$1.9M
Tax Year 2024 · Source: IRS e-Filed Form 990Schedule J available
Individuals serving as officers, directors, or trustees of the organization.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other |
|---|
Source: IRS Publication 78, Auto-Revocation List & e-Postcard Data
Tax-deductible contributions: Yes
Deductibility code: PC
Sources: IRS e-Filed Form 990 (XML) & ProPublica Nonprofit Explorer
Scroll →
| Year | Revenue | Contributions | Expenses | Assets | Net Assets |
|---|---|---|---|---|---|
| 2024IRS e-File | $3.7M | $1M | $3.2M | $54M | $18.2M |
| 2023IRS e-File | $3.3M | $813.9K | $3.2M | $52.7M | $17.6M |
| 2022 | $3M | $1.3M | $2.7M | $51.8M | $17.5M |
| 2021 | $6.3M |
Sources: ProPublica Nonprofit Explorer & IRS e-File Index
Financial data: IRS e-Filed Form 990 (Tax Year 2024)
Leadership & compensation: IRS e-Filed Form 990, Part VII (Tax Year 2024)
Federal grants: USAspending.gov (live)
Organization info: IRS Business Master File
Tax-deductibility: IRS Publication 78
| Total |
|---|
| William Belongia | Executive Di | 40 | $223.7K | $0 | $12.7K | $236.4K |
| Stephanie Wernhoff | Vice Preside | — | $0 | $0 | $0 | $0 |
| Michael Thompson | Secretary | — | $0 | $0 | $0 | $0 |
| Arne Hammarlund | Treasurer | — | $0 | $0 | $0 | $0 |
| Gwen Pokalo Hart | President | — | $0 | $0 | $0 | $0 |
William Belongia
Executive Di
$236.4K
Hrs/Wk
40
Compensation
$223.7K
Related Orgs
$0
Other
$12.7K
Stephanie Wernhoff
Vice Preside
$0
Hrs/Wk
—
Compensation
$0
Related Orgs
$0
Other
$0
Michael Thompson
Secretary
$0
Hrs/Wk
—
Compensation
$0
Related Orgs
$0
Other
$0
Arne Hammarlund
Treasurer
$0
Hrs/Wk
—
Compensation
$0
Related Orgs
$0
Other
$0
Gwen Pokalo Hart
President
$0
Hrs/Wk
—
Compensation
$0
Related Orgs
$0
Other
$0
Highest compensated employees who are not officers or directors.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other | Total |
|---|---|---|---|---|---|---|
| Katherine Nelson | Employee | 40 | $133.7K | $0 | $8,184 | $141.9K |
| Jake Ide | Employee | 40 | $132.3K | $0 | $8,114 | $140.4K |
| Daniel Winslow | Employee | — | $105.8K | $0 | $6,790 | $112.6K |
| Sarah Phillips | Employee | — | $104K | $0 | $6,700 | $110.7K |
Katherine Nelson
Employee
$141.9K
Hrs/Wk
40
Compensation
$133.7K
Related Orgs
$0
Other
$8,184
Jake Ide
Employee
$140.4K
Hrs/Wk
40
Compensation
$132.3K
Related Orgs
$0
Other
$8,114
Daniel Winslow
Employee
$112.6K
Hrs/Wk
—
Compensation
$105.8K
Related Orgs
$0
Other
$6,790
Members of the governing board. Board members often serve without compensation.
| Name | Title | Hrs/Wk | Compensation | Related Orgs | Other | Total |
|---|---|---|---|---|---|---|
| Chloe Learey | Member | — | $0 | $0 | $0 | $0 |
| Dr Asma Ali Abunaib | Member | — | $0 | $0 | $0 | $0 |
| Ira Marvin | Member | — | $0 | $0 | $0 | $0 |
| Janet Spitler | Member | — | $0 | $0 | $0 | $0 |
| Kim Keiser | Member | — | $0 | $0 | $0 | $0 |
| Matthew Plasse | Member | — |
Chloe Learey
Member
$0
Hrs/Wk
—
Compensation
$0
Related Orgs
$0
Other
$0
Dr Asma Ali Abunaib
Member
$0
Hrs/Wk
—
Compensation
$0
Related Orgs
$0
Other
$0
Ira Marvin
Member
$0
Hrs/Wk
—
Compensation
$0
Related Orgs
$0
Other
$0
| $4.4M |
| $2.9M |
| $52.2M |
| $17.1M |
| 2020 | $3.9M | $1.9M | $2.6M | $46.8M | $13.7M |
| 2019 | $2.8M | $862.3K | $2.8M | $43.2M | $12.5M |
| 2018 | $4.7M | $2.5M | $3M | $41.7M | $12.4M |
| 2017 | $2.9M | $989.3K | $2.8M | $39.2M | $10.7M |
| 2016 | $3.7M | $1.6M | $2.8M | $38.1M | $10.7M |
| 2015 | $4.1M | $2.1M | $2.7M | $35.7M | $9.8M |
| 2014 | $3.5M | $1.8M | $2.8M | $33.3M | $8.5M |
| 2013 | $2.7M | $1.1M | $2.8M | $30.7M | $7.7M |
| 2012 | $2.8M | $1.2M | $2.8M | $29.3M | $7.8M |
| 2011 | $2.5M | $839.8K | $2.3M | $30.2M | $7.8M |
| 2021 | 990 | Data |
| 2020 | 990 | Data |
| 2019 | 990 | Data |
| 2018 | 990 | Data |
| 2017 | 990 | Data |
| 2016 | 990 | Data |
| 2015 | 990 | Data |
| 2014 | 990 | Data |
| 2013 | 990 | Data |
| 2012 | 990 | Data |
| 2011 | 990 | Data |
| 2010 | 990 | — |
| 2009 | 990 | — |
| 2007 | 990 | — |
| 2006 | 990 | — |
| 2005 | 990 | — |
| 2004 | 990 | — |
| 2003 | 990 | — |
| 2002 | 990 | — |
| 2001 | 990 | — |
Sarah Phillips
Employee
$110.7K
Hrs/Wk
—
Compensation
$104K
Related Orgs
$0
Other
$6,700
| $0 |
| $0 |
| $0 |
| $0 |
Janet Spitler
Member
$0
Hrs/Wk
—
Compensation
$0
Related Orgs
$0
Other
$0
Kim Keiser
Member
$0
Hrs/Wk
—
Compensation
$0
Related Orgs
$0
Other
$0
Matthew Plasse
Member
$0
Hrs/Wk
—
Compensation
$0
Related Orgs
$0
Other
$0