Advance Transit Inc

EIN: 222558708 501(c)(3) Public & Societal Benefit

Wilder, VT

Total Revenue
$8,660,374
Total Expenses
$7,173,802
Total Assets
$18,671,790
Net Assets
$18,313,662
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1984
Legal Domicile
VT
Principal Officer
Adams Carroll
Phone
8022951824
Tax Period
2022-07-01 to 2023-06-30

Advance Transit Inc, founded in 1984, is a community nonprofit in the Public & Societal Benefit sector that reported $8.7M in total revenue in fiscal year 2022. Revenue grew 10% year-over-year, indicating healthy expansion. The organization ran a surplus of $1.5M, a strong 17% operating margin.

Mission

To assure the continued livability and accessibility of Upper Valley communities by providing safe, effective and friendly public transportation services.

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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 (2022)

Revenue Breakdown

Contributions & Grants $8,606,495
Program Service Revenue $0
Investment Income $6,706
Other Revenue $47,173
TOTAL REVENUE $8,660,374

Expense Breakdown

Grants Paid $0
Salaries & Benefits $4,375,876
Fundraising Expenses $52,751
Program Expenses $5,769,128
Other Expenses $2,797,926
TOTAL EXPENSES $7,173,802

Year-over-Year Comparison

2022 2021 Change
Revenue $8,660,374 $7,862,543 +0.1%
Expenses $7,173,802 $6,079,965 +0.2%
Net Income $1,486,572 $1,782,578 -0.2%
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
14
Independent Members
14
Employees
71
Volunteers
20

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
5
$146,615
Total Directors
14
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Matt Osborn President 5.00
Officer Director
$0 $0 $0
Nathan Miller Vice President 5.00
Officer Director
$0 $0 $0
Georgios Katsaros Treasurer 5.00
Officer Director
$0 $0 $0
Rebecca Owens Secretary 2.50
Officer Director
$0 $0 $0
Robert Houseman Board Member 2.50
Director
$0 $0 $0
Van Chesnut Executive Director 0.00
$143,479 $7,240 $150,719
Bethany Fleishman Board Member 2.50
Director
$0 $0 $0
Patrick O'Neill Board Member 2.50
Director
$0 $0 $0
James Taylor Board Member 2.50
Director
$0 $0 $0
Mark Beliveau Board Member 2.50
Director
$0 $0 $0
Joe Major Board Member 2.50
Director
$0 $0 $0
Kathie Nolet Board Member 2.50
Director
$0 $0 $0
Devin Wilkie Board Member 2.50
Director
$0 $0 $0
David Stewart Board Member 2.50
Director
$0 $0 $0
Adams Carroll Executive Director 40.00
Officer
$139,939 $6,676 $146,615
Rob Starkey Treasurer 0.00
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
2025 No data No data No data No data
2024 No data No data No data No data
2023 $8,660,374 $7,173,802 $18,671,790 $1,486,572
2022 $7,862,543 $6,079,965 $17,081,099 $1,782,578
2021 $7,196,962 $6,356,146 $16,089,126 $840,816
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