The Vermont Quilt Festival Incorporated
Vermont Quilt Festival: Declining Revenue, High Expenses, and Zero Compensation
EIN: 222506055 · Williston, VT · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $107K |
| Total Expenses | $198K |
| CEO/Top Officer Pay | $0 |
| Net Assets | $15K |
| Transparency Score | 65/100 |
Is The Vermont Quilt Festival Incorporated Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About The Vermont Quilt Festival Incorporated
The Vermont Quilt Festival Incorporated (EIN: 222506055) is a nonprofit organization based in Williston, VT. The organization reported total revenue of $107K and total assets of $15K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of The Vermont Quilt Festival Incorporated's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
The Vermont Quilt Festival Incorporated is a small nonprofit that has been operating for 41 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -10.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $107K |
| Total Expenses | $198K |
| Surplus / Deficit | $-90,982 |
| Total Assets | $15K |
| Net Assets | $15K |
| Operating Margin | -84.8% |
| Months of Reserves | 0.9 months |
Financial Health Grade: C
In 2023, The Vermont Quilt Festival Incorporated reported a deficit of $91K with expenses exceeding revenue, holds 0.9 months of operating reserves (limited).
Financial Trends
Over 13 years of filings (2011–2023), The Vermont Quilt Festival Incorporated's revenue has declined at a compound annual growth rate (CAGR) of -10.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +255.1% | +313.4% | -85.6% |
| 2022 | -77.4% | -66.1% | -13.8% |
| 2021 | +13.9% | +73.4% | -11.8% |
| 2020 | -60.3% | -74.5% | +45.9% |
| 2019 | +2.7% | +9.7% | -19.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1985 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates The Vermont Quilt Festival Incorporated with a Mission Score of 65 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 100%
- programs: 0%
- fundraising: 0%
According to IRS 990 filings, The Vermont Quilt Festival Incorporated allocates its expenses as follows: admin: 100%, programs: 0%, fundraising: 0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $91K, with expenses exceeding revenue.
Executive Compensation Analysis
Executive compensation is reported as $0 across all available filings, suggesting an entirely volunteer-run organization.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of The Vermont Quilt Festival Incorporated's IRS 990 filings:
- Expenses consistently exceed revenue, with $198,261 in expenses against $107,279 in revenue in 2023, leading to a significant draw on assets.
- Total assets have sharply declined from $160,548 in 2016 to $15,498 in 2023, indicating financial instability.
- The organization reports 0% spending on programs, raising questions about direct mission impact.
Strengths
The following positive indicators were identified for The Vermont Quilt Festival Incorporated:
- The organization operates with zero reported executive compensation, demonstrating a commitment to volunteerism.
- Despite financial challenges, the organization has continued to operate for many years, suggesting dedicated volunteers.
Frequently Asked Questions about The Vermont Quilt Festival Incorporated
Is The Vermont Quilt Festival Incorporated a legitimate charity?
The Vermont Quilt Festival Incorporated (EIN: 222506055) is a registered tax-exempt nonprofit based in Vermont. Our AI analysis gives it a Mission Score of 65/100. It has 13 years of IRS 990 filings on record. Total revenue: $107K. 3 red flags identified. 2 strengths noted. Financial health grade: C.
How does The Vermont Quilt Festival Incorporated spend its money?
The Vermont Quilt Festival Incorporated reported $107K in total revenue in IRS 990 filings. 13 years of filing data available. Expenses exceeded revenue in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to The Vermont Quilt Festival Incorporated tax-deductible?
The Vermont Quilt Festival Incorporated is registered as a tax-exempt nonprofit (EIN: 222506055). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the The Vermont Quilt Festival Incorporated CEO make?
The Vermont Quilt Festival Incorporated's highest-compensated officer earns $0 annually. The organization reported $107K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
Where is The Vermont Quilt Festival Incorporated located?
The Vermont Quilt Festival Incorporated is headquartered in Williston, Vermont and files with the IRS under EIN 222506055.
How many years of IRS 990 filings does The Vermont Quilt Festival Incorporated have?
The Vermont Quilt Festival Incorporated has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $107K in total revenue.
What does The Vermont Quilt Festival Incorporated do?
The Vermont Quilt Festival Incorporated is a nonprofit organization in the Unknown sector, located in Williston, Vermont. It is classified under NTEE code Unknown.
How much revenue does The Vermont Quilt Festival Incorporated have?
The Vermont Quilt Festival Incorporated reported total revenue of $107,279. Based on 13 IRS 990 filings on record.
What are The Vermont Quilt Festival Incorporated's total assets?
The Vermont Quilt Festival Incorporated holds total assets of $15,498 as reported in IRS 990 filings.
Where is The Vermont Quilt Festival Incorporated located?
The Vermont Quilt Festival Incorporated is based in Williston, Vermont.
What is The Vermont Quilt Festival Incorporated's EIN?
The Vermont Quilt Festival Incorporated's Employer Identification Number (EIN) is 222506055. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is The Vermont Quilt Festival Incorporated?
The Vermont Quilt Festival Incorporated is classified under NTEE code Unknown (Unknown).
Is The Vermont Quilt Festival Incorporated a registered 501(c)(3)?
The Vermont Quilt Festival Incorporated appears in IRS records (EIN: 222506055). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does The Vermont Quilt Festival Incorporated file IRS Form 990?
Yes, The Vermont Quilt Festival Incorporated has 13 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was The Vermont Quilt Festival Incorporated's revenue in 2023?
In the 202312 filing period, The Vermont Quilt Festival Incorporated reported total revenue of $107,279, total expenses of $198,261, and net assets of $15,498.
Is The Vermont Quilt Festival Incorporated's revenue growing or declining?
The Vermont Quilt Festival Incorporated's revenue is growing. Revenue went from $30,213 (202212) to $107,279 (202312), a +255.1% change. Based on 13 filings on record.
What is The Vermont Quilt Festival Incorporated's most recent 990 filing?
The most recent IRS Form 990 filing for The Vermont Quilt Festival Incorporated covers tax period 202312. It shows revenue of $107,279, expenses of $198,261, total assets of $15,498, and liabilities of N/A.
Is The Vermont Quilt Festival Incorporated a trustworthy charity?
Based on AI analysis of IRS 990 data, The Vermont Quilt Festival Incorporated shows mixed signals. Mission Score: 65/100 (Good). 3 red flags identified. 2 strengths noted.
What are the red flags for The Vermont Quilt Festival Incorporated?
The following concerns were identified: Expenses consistently exceed revenue, with $198,261 in expenses against $107,279 in revenue in 2023, leading to a significant draw on assets.. Total assets have sharply declined from $160,548 in 2016 to $15,498 in 2023, indicating financial instability.. The organization reports 0% spending on programs, raising questions about direct mission impact.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are The Vermont Quilt Festival Incorporated's strengths?
Positive indicators for The Vermont Quilt Festival Incorporated include: The organization operates with zero reported executive compensation, demonstrating a commitment to volunteerism.. Despite financial challenges, the organization has continued to operate for many years, suggesting dedicated volunteers.. These findings are derived from AI analysis of the organization's financial filings.
How does The Vermont Quilt Festival Incorporated compensate executives?
Executive compensation is reported as $0 across all available filings, suggesting an entirely volunteer-run organization. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the consistent reporting of 0% program spending and 100% administrative spending, how does the Vermont Quilt Festival fulfill its mission?
The financial data suggests that all reported expenses are categorized as administrative, which could imply that the 'administrative' costs are directly related to organizing and running the festival, which is the core mission. However, without further detail, it's unclear if any direct programmatic activities are occurring.
What is the long-term sustainability plan for an organization with consistently declining revenue and expenses exceeding revenue, leading to a rapid depletion of assets?
The current financial trajectory, with assets decreasing from $160,548 in 2016 to $15,498 in 2023, is unsustainable. Without a significant increase in revenue or a drastic reduction in expenses, the organization faces a high risk of insolvency in the near future.
Filing History
IRS 990 filing history for The Vermont Quilt Festival Incorporated showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), The Vermont Quilt Festival Incorporated's revenue has declined by 74.2%, moving from $415K to $107K. Total assets decreased by 89.2% over the same period, from $144K to $15K. Total functional expenses fell by 49.1%, from $389K to $198K. In its most recent filing year (2023), The Vermont Quilt Festival Incorporated reported a deficit of $91K, with expenses exceeding revenue.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $107K | $198K | $15K | $0 | — | View 990 |
| 2022 | $30K | $48K | $107K | $858 | — | View 990 |
| 2021 | $134K | $141K | $125K | $283 | — | View 990 |
| 2020 | $118K | $82K | $141K | $9K | — | — |
| 2019 | $296K | $319K | $97K | $789 | — | View 990 |
| 2018 | $288K | $291K | $120K | $536 | — | View 990 |
| 2017 | $271K | $311K | $123K | $1K | — | View 990 |
| 2016 | $295K | $322K | $161K | $731 | — | View 990 |
| 2015 | $323K | $321K | $188K | $1K | — | View 990 |
| 2014 | $347K | $342K | $185K | $0 | — | View 990 |
| 2013 | $374K | $369K | $180K | $0 | — | View 990 |
| 2012 | $378K | $348K | $176K | $0 | — | View 990 |
| 2011 | $415K | $389K | $144K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $107K, expenses of $198K, and assets of $15K (revenue +255.1% year-over-year).
- 2022: Revenue of $30K, expenses of $48K, and assets of $107K (revenue -77.4% year-over-year).
- 2021: Revenue of $134K, expenses of $141K, and assets of $125K (revenue +13.9% year-over-year).
- 2020: Revenue of $118K, expenses of $82K, and assets of $141K (revenue -60.3% year-over-year).
- 2019: Revenue of $296K, expenses of $319K, and assets of $97K (revenue +2.7% year-over-year).
- 2018: Revenue of $288K, expenses of $291K, and assets of $120K (revenue +6.4% year-over-year).
- 2017: Revenue of $271K, expenses of $311K, and assets of $123K (revenue -8.2% year-over-year).
- 2016: Revenue of $295K, expenses of $322K, and assets of $161K (revenue -8.6% year-over-year).
- 2015: Revenue of $323K, expenses of $321K, and assets of $188K (revenue -7.0% year-over-year).
- 2014: Revenue of $347K, expenses of $342K, and assets of $185K (revenue -7.1% year-over-year).
- 2013: Revenue of $374K, expenses of $369K, and assets of $180K (revenue -1.1% year-over-year).
- 2012: Revenue of $378K, expenses of $348K, and assets of $176K (revenue -8.9% year-over-year).
- 2011: Revenue of $415K, expenses of $389K, and assets of $144K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for The Vermont Quilt Festival Incorporated:
Data Sources and Methodology
This transparency report for The Vermont Quilt Festival Incorporated is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.