Vermont Healthcare Information Technology Education Center Inc

EIN: 030364625 501(c)(3) Public & Societal Benefit

Williston, VT

Total Revenue
$6,765,490
Total Expenses
$6,531,059
Total Assets
$3,715,633
Net Assets
$2,206,148
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2000
Legal Domicile
VT
Principal Officer
Matthew McKenney
Phone
8028720660
Tax Period
2023-01-01 to 2023-12-31

Vermont Healthcare Information Technology Education Center Inc, founded in 2000, is a community nonprofit in the Public & Societal Benefit sector that reported $6.8M in total revenue in fiscal year 2023. Revenue surged 88% from the prior year, signaling strong growth momentum. Expenses of $6.5M left a modest 3% surplus.

Mission

The purpose of the Organization is to facilitate and create business and education partnerships across the US that create employment opportunities for the under-served, unemployed and underemployed through education and training programs using proven workforce development models. The Organization operates multiple training programs and provides technical assistance as an intermediary in support of our partners throughout the US.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $4,413,543
Program Service Revenue $2,349,102
Investment Income $2,320
Other Revenue $525
TOTAL REVENUE $6,765,490

Expense Breakdown

Grants Paid $0
Salaries & Benefits $2,922,478
Fundraising Expenses $0
Program Expenses $5,897,098
Other Expenses $3,608,581
TOTAL EXPENSES $6,531,059

Year-over-Year Comparison

2023 2022 Change
Revenue $6,765,490 $3,590,708 +0.9%
Expenses $6,531,059 $3,706,696 +0.8%
Net Income $234,431 $-115,988 -3.0%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
6
Independent Members
5
Employees
29
Volunteers
N/A

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
2
$217,407
Total Directors
6
$217,407
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Matthew McKenney President/Treasurer/CEO 040.00
Officer Director
$210,180 $7,227 $217,407
Dr Gerald P Ghazi JD Secretary 001.00
Officer Director
$0 $0 $0
Nathaniel Hendrie Director 001.00
Director
$0 $0 $0
Dr John J Collins JD Director 001.00
Director
$0 $0 $0
John Ferney Director 001.00
Director
$0 $0 $0
Joanne Fiore Director 001.00
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $6,765,490 $6,531,059 $3,715,633 $234,431
2022 $3,590,708 $3,706,696 $2,406,511 $-115,988
2021 $4,479,304 $4,608,238 $2,831,713 $-128,934
2020 $2,216,205 $2,259,756 $2,217,249 $-43,551
2019 $2,481,699 $1,928,669 $2,064,893 $553,030
2018 $2,124,759 $2,089,971 $1,459,886 $34,788
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