Nonprofit · EIN 03-0352426
VEPP INC
Tax-exempt · MANCHESTR CTR, VT 05255
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $594,697 | $563,704 | $30,993 | $5,868,561 | $5,604,614 | $263,947 |
| June 30, 2024 | 990 | $549,312 | $535,687 | $13,625 | $6,004,248 | $5,771,294 | $232,954 |
| June 30, 2023 | 990 | $573,152 | $504,106 | $69,046 | $5,776,576 | $5,557,247 | $219,329 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $544,905
- Investment income
- $49,792
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $219,188
- Other salaries and wages
- $148,142
- Salaries, compensation and benefits (total)
- $412,300
- Professional fundraising fees
- $0
- Legal fees
- $5,100
- Accounting fees
- $18,000
- Occupancy
- $22,379
- Travel
- $539
- Depreciation
- $3,087
- Program services (functional)
- $500,501
- Management and general (functional)
- $63,203
Balance sheet and other
- Total assets, start of year
- $6,004,248
- Total assets, end of year
- $5,868,561
- Total liabilities, end of year
- $5,604,614
- Net assets, end of year
- $263,947
- Land, buildings and equipment
- $10,485
- Net assets without donor restrictions
- $263,947
- Gross receipts
- $594,697
- Employees
- 4
- Volunteers
- 0
- Year formed
- 1994
- State of legal domicile
- VT
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| CAROLYN ALDERMAN | EXECUTIVE DIRECTOR, SECRET Trustee or director, Officer | 40 | $180,367 | $34,397 |
| ANDREW LOCKE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| BRIAN WAXLER | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| CRAIG KIENY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DOUG SMITH | VICE PRESIDENT Trustee or director, Officer | 1 | $0 | $0 |
| GINI MILKEY | PUBLIC DIRECTOR Trustee or director | 1 | $0 | $0 |
| KATHLEEN KEENAN | PUBLIC DIRECTOR Trustee or director | 1 | $0 | $0 |
| LOUIS PORTER | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MATHEW RUBIN | PRESIDENT Trustee or director, Officer | 1 | $0 | $0 |
| RITA RICKETSON | PUBLIC DIRECTOR Trustee or director | 1 | $0 | $0 |
| LAWRENCE ANDERSON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| GRACE SAWYER | DIRECTOR Trustee or director | 1 | $0 | $0 |
990 for the year ended June 30, 2024: 12 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| CAROLYN ALDERMAN | EXECUTIVE DIRECTOR, SECRET Trustee or director, Officer | 40 | $168,454 | $34,865 |
| MATHEW RUBIN | PRESIDENT Trustee or director, Officer | 1 | $0 | $0 |
| WILLIAM HARRINGTON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| BRIAN WAXLER | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| ANDREW LOCKE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KEN NOLAN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| LOUIS PORTER | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DOUG SMITH | VICE PRESIDENT Trustee or director, Officer | 1 | $0 | $0 |
| CRAIG KIENY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| GINI MILKEY | PUBLIC DIRECTOR Trustee or director | 1 | $0 | $0 |
| KATHLEEN KEENAN | PUBLIC DIRECTOR Trustee or director | 1 | $0 | $0 |
| RITA RICKETSON | PUBLIC DIRECTOR Trustee or director | 1 | $0 | $0 |
990 for the year ended June 30, 2023: 12 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| CAROLYN ALDERMAN | EXECUTIVE DIRECTOR, SECRETARY Trustee or director, Officer | 40 | $161,238 | $25,002 |
| MATHEW RUBIN | PRESIDENT Trustee or director, Officer | 1 | $0 | $0 |
| WILLIAM HARRINGTON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| BRIAN WAXLER | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| ANDREW LOCKE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KEN NOLAN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| LOUIS PORTER | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DOUG SMITH | VICE PRESIDENT Trustee or director, Officer | 1 | $0 | $0 |
| CRAIG KIENY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| GINI MILKEY | PUBLIC DIRECTOR Trustee or director | 1 | $0 | $0 |
| KATHLEEN KEENAN | PUBLIC DIRECTOR Trustee or director | 1 | $0 | $0 |
| RITA RICKETSON | PUBLIC DIRECTOR Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 1938, MANCHESTR CTR, VT 05255-1938
- In care of
- % JOHN SPENCER
- Principal officer (990 for 2024)
- CAROLYN ALDERMAN, PO BOX 1938, MANCHESTER CENTER, VT 052551938
- Signed the 990
- CAROLYN ALDERMAN, EXECUTIVE DIRECTOR
- Phone
- (802) 362-0748
- Website
- WWW.VERMONTSTANDARDOFFER.COM
- Return prepared by
- OSTER & WHEELER PC
Mission
TO ACT UNDER THE VERMONT PUBLIC UTILITY COMMISSION AS THE STANDARD OFFER FACILITATOR FOR ELECTRICITY IN THE STATE OF VERMONT.
Program accomplishments
- THE STATE OF VERMONT HAS INITIATED A UNIQUE SYSTEM OF ELECTRIC POWER PURCHASING CREATED IN RESPONSE TO FEDERAL AND STATE LEGISLATION. THE PUBLIC UTILITIES REGULATORY POLICY ACT OF 1978 (PURPA) REQUIRES THAT ELECTRIC UTILITY COMPANIES PURCHASE ELECTRICITY OFFERED BY OWNERS OF CERTAIN QUALIFYING ELECTRIC GENERATING FACILITIES. SIMILARLY, A NEWER STATE LAW, V.S.A. 30 8005(A) ALSO REQUIRES ELECTRIC UTILITY COMPANIES TO PURCHASE ELECTRICITY OFFERED BY OWNERS OF CERTAIN QUALIFYING RENEWABLE ELECTRIC GENERATING FACILITIES. UNDER STATE LAW AND RULES PROMULGATED BY THE VERMONT PUBLIC UTILITY COMMISSION, RATES TO BE PAID FOR THIS ELECTRICITY ARE APPROVED BY THE PUBLIC UTILITY COMMISSION ON A STATEWIDE BASIS. VERMONT'S RETAIL UTILITIES ARE REQUIRED TO PURCHASE THIS ELECTRICITY ON A PRO RATA BASIS TO THEIR STATE LOAD.THE STANDARD OFFER PROGRAM IN THE STATE NECESSARILY REQUIRES THE STATE GOVERNMENT TO ASSUME FUNCTIONS MORE COMMONLY CARRIED OUT BY PRIVATE PARTIES. BECAUSE UTILITIES AND THE OWNERS OF MAJOR QUALIFIED FACILITIES TRANSACTING UNDER THIS PROGRAM DO NOT CONTRACT DIRECTLY WITH ONE ANOTHER FOR PURCHASE AND SALE OF ELECTRICITY, AN INTERMEDIARY IS REQUIRED TO ENSURE PROPER POWER AND FINANCIAL ACCOUNTING FOR THE STATEWIDE PURCHASING PROGRAM, TO MONITOR COMPLIANCE WITH CONTRACTS, AND IF NECESSARY TO ENFORCE THE TERMS OF THOSE CONTRACTS. THIS INTERMEDIARY IS KNOWN AS THE STANDARD OFFER FACILITATOR, AN ENTITY DESIGNATED BY THE PUBLIC UTILITY COMMISSION TO PERFORM THE POWER AND FINANCIAL ACCOUNTING FUNCTIONS ASSOCIATED WITH THE PROGRAM.ON APRIL 13, 2007 VEPP INC WAS DESIGNATED AS THE SPEED FACILITATOR FOR THE STATE (SUBSEQUENTLY CHANGED TO STANDARD OFFER FACILITATOR). IN THOSE CAPACITIES VEPP INC IS REQUIRED TO PURCHASE ELECTRICITY FROM THE OWNERS OF QUALIFYING RENEWABLE ENERGY GENERATION FACILITIES. VEPP INC IS ALSO REQUIRED TO ENTER INTO CONTRACTS FOR THE PURCHASE OF THE ELECTRICITY. EACH SUCH CONTRACT MUST BE APPROVED BY THE STATE COMMISSION AT RATES APPROVED BY THE STATE COMMISSION AT THE TIME THE CONTRACT IS EXECUTED. OTHER REQUIREMENTS OF THE STANDARD OFFER FACILITATOR INCLUDE BILLING AND COLLECTION OF PAYMENTS FROM THE ELECTRIC UTILITIES AND REMITTANCE TO THE OWNERS OF THE QUALIFIED FACILITIES, METERING QUALIFIED FACILITY OUTPUT, AND GENERALLY MANAGING THE STATEWIDE POWER PURCHASING PROGRAMS UNDER RULES OF THE STATE COMMISSION. VEPP INC PERFORMS THESE FUNCTIONS IN SUPPORT OF THE STATE, UNDER THE TERMS OF ITS DESIGNATION AS AN INSTRUMENTALITY OF THE STATE.Expenses $500,501 · revenue $544,905
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 03-0352426
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Supporting organization (509(a)(3))
- Donations deductible (Pub 78)
- Supporting organization of unknown type
- Exempt since
- 1999
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Public and societal benefit (W99)
- Assets (IRS master file)
- $5,868,561
- Income (IRS master file)
- $594,697
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $594,697 | $563,704 | $5,868,561 | IRS |
| 990 | June 2024 | $549,312 | $535,687 | $6,004,248 | IRS |
| 990 | June 2023 | $573,152 | $504,106 | $5,776,576 | XML |
| 990 | June 2022 | $539,195 | $480,920 | $5,534,796 | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2019 | – | – | – | IRS |
| 990 | June 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 03-0352426).
Questions about VEPP INC
- What is the EIN of VEPP INC?
- The employer identification number (EIN) of VEPP INC is 03-0352426.
- Is VEPP INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1999.
- Are donations to VEPP INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Supporting organization of unknown type).
- Which annual return does VEPP INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of VEPP INC due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did VEPP INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of VEPP INC?
- The 990 for the year ended June 30, 2025 names CAROLYN ALDERMAN.
- Who are the officers and directors of VEPP INC?
- The 990 for the year ended June 30, 2025 lists 12 people; 1 received compensation from the organization, the highest $180,367 (CAROLYN ALDERMAN, EXECUTIVE DIRECTOR, SECRET).
- How much revenue does VEPP INC have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $594,697, expenses of $563,704 and total assets of $5,868,561 at year end.
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All nonprofits in MANCHESTR CTR · Vermont · Public and societal benefit