2023-11-09T09:10:52-00:00 2023-06-30 264046110 Wisehart Wimette Associates PLC 159 River Road Essex Junction VT 05452 990 2022-07-01 510192568 Franklin County Industrial Development Corporation FRAN 8025242194 PO Box 1099 St Albans VT 054781099 Timothy Smith Officer 8025242194 2023-11-09 true Timothy Smith XXX-XX-XXXX Kirk P Wisehart P00533236 8028791055 2023-11-09 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z Timothy Smith PO Box 1099 St Albans VT 054781099 6170219 false X www.fcidc.com X 1979 VT To promote development and growth of private industry in the greater St. Albans area and Franklin County as a whole 19 19 5 0 277180 374053 2127446 1805560 19662 -1491546 57641 94966 2481929 783033 0 0 228065 249343 0 0 2133581 1916423 2361646 2165766 120283 -1382733 21946994 17606975 15927335 12971619 6019659 4635356 X To promote development and growth of private industry in the greater St. Albans area and Franklin County as a whole false false 393853 406836 To provide rental space in a multi-tenant building to businesses for the purpose of promoting economic development in Franklin County 1146310 1242331 To provide rental space to businesses in order to further encourage the development of industry in Franklin County 258498 115317 To provide loans to area businesses and municipalities for acquisition and expansion purposesTo provide revolving loans for the creation of employment opportunities and/or the maintenance of existing jobs, particularly for the benefit of low income persons, displaced farm families and farm families needing to supplement their income. These funds are to be used for the purchase or expansion of land, buildings, machinery or equipment, start-up costs, feasibility studies or other working capital. 3457 87 1802118 false true false false false false false false false true false false false true true true false false false false false false false false false false false false false false false false false false false false false false false false false false false false false true 11 0 true 5 true false false false false false false false false false false false false X 19 19 false false false false false false false true true false false true true true true false false true false false X Timothy Smith 8025242194 PO Box 1099 St Albans VT 054781099 Evan Branon Director 001.00 X X 106694 0 11478 Leilani King Director 001.00 X X 37558 0 15926 Mark Lareau Chair 001.00 X X 0 0 0 Kevin Manahan Vice Chair 001.00 X X 0 0 0 Leon Berthiaume Treasurer 001.00 X X 0 0 0 Maureen Brown Director 001.00 X 0 0 0 Patrick Calecas Director 001.00 X 0 0 0 Kathy Lavoie Director 001.00 X 0 0 0 Michael O'Brien Director 001.00 X 0 0 0 Dean Pelkey Director 001.00 X 0 0 0 Rebecca Stebbins Director 001.00 X 0 0 0 Carl Rosenquist Director 001.00 X 0 0 0 Coleen Condon Director 001.00 X 0 0 0 Elizabeth Gamache Director 001.00 X 0 0 0 Bill O'Brien left in FY 23 Director 001.00 X 0 0 0 Jess Graff Director 001.00 X 0 0 0 Andrew Crossman Director 001.00 X 0 0 0 Lisa Durocher Director 001.00 X 0 0 0 Timothy Smith Executive Director 040.00 X 0 0 0 Amy Kimball Secretary 040.00 X 0 0 0 Bill O'Brien left in FY 23 Director 001.00 X 0 0 0 144252 27404 1 false false false 350553 23500 374053 Rental income 532000 938943 938943 Tenant reimbursements 532000 304577 304577 Interest income-financed lease 532000 551296 551296 Interest income-revolving loan fund 522291 10744 10744 1805560 20700 20700 3874940 5387186 -1512246 -1512246 Other income 900099 94966 94966 94966 783033 1900526 20700 0 0 0 0 149575 149575 0 55150 1170 53980 3921 3921 24953 24953 15744 15744 0 32007 32007 22764 15779 6985 0 16357 11063 5294 0 1894 1725 169 9013 2372 6641 0 596922 591536 5386 0 0 0 0 789147 789147 0 274201 274050 151 48652 44900 3752 Bad debt expense recovery -1548 -1548 Miscellaneous 9539 580 8959 Dues and other service fees 10993 10993 Grant expense 72996 16450 56546 33486 22887 10599 2165766 1802118 363648 0 47116 911779 198328 116318 256834 17631 7725291 7324213 3326 1139 8843326 139115 13244871 8704211 444027 503003 20051 28681 7150 21946994 17606975 40184 136452 233543 3538 15592311 12764385 61297 67244 15927335 12971619 X 6013044 4628741 6615 6615 6019659 4635356 21946994 17606975 -1382733 3049 -4619 X false true X true false RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false 499250 499250 2644314 101776 2542538 83880 37339 46541 5615882 5615882 8704211 Financial derivatives and other financial products Closely-held equity interests Federal income taxes Accrued expenses 40827 Security deposit payable 26417 67244 X 781463 3049 3049 778414 4619 4619 783033 2165766 2165766 2165766 X 2 The Organization is a non-profit organization exempt from income taxes under Section 501C4 of the Internal Revenue Code and none of its present or anticipated future activities are subject to taxation as unrelated business income therefore no provision for income taxes has been made in the accompanying financial statements. The Organization believes it has taken no uncertain tax positions that could have an effect on its financial statements. Form 990, Part III, Line 4d Program Service Expenses 3,457, Grants and allocations 0, Revenue 87 To provide loans to area businesses and municipalities for acquisition and expansion purposes Form 990, Part VI, Section B, Line 11b Copies of the Form 990 are forwarded to the Executive Director who then provides these copies to the governing body for review Form 990, Part VI, Section B, Line 12c Yes, a subcommittee of the Board of Director reviews the Executive Directors compensation Form 990, Part VI, Section C, Line 19 Governing documents are available upon request