The Current Inc
- Assets
- $1.8m
- Revenue
- $677.5k
- Investments
- $0.0
- Employees
- 12
- Location
- Stowe, VT
- Founding
- 03/1983
- Data as of
- 12/2021
- EIN
- 03-0284825
Organization Overview
The Current Inc is located in Stowe, VT. The organization was established in 1983. According to its NTEE Classification (A40) the organization is classified as: Visual Arts, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Current Inc employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Current Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Current Inc generated $677.5k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.9% each year. All expenses for the organization totaled $586.2k during the year ending 12/2021. While expenses have increased by 5.7% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE CURRENT, INC. IS A MEMBER SUPPORTED, COMMUNITY ARTS AND EDUCATION NON-PROFIT ORGANIZATION, WHOSE MISSION IS TO ENHANCE THE HUMAN EXPERIENCE THROUGH THE VISUAL ARTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION-ADULT AND YOUTH PROGRAMS OFFERED CLASSES, WORKSHOPS, AND FAMILY EVENTS THIS YEAR. EXHIBITIONS - CURATED AND PRODUCED 4 EXHIBITIONS. PUBLIC PROGRAMMING IN THE FORM OF ARTIST TALKS, ACADEMIC PANELS, AND WORKSHOPS ACCOMPANY THE EXHIBITIONS. WE WORK WITH LOCAL AND REGIONAL SCHOOLS WHO RECEIVE GUIDED TOURS OF THE EXHIBITS AND TRANSPORTATION STIPENDS TO PAY FOR BUSSING FEES. WE OFFER PUBLIC ACTIVITIES, A HANDS-ON ROOM WITH ACTIVITIES FOR EVERY EXHIBITION, DROP-IN PRE-K ART PLAY AND TEEN STUDIOS, AND ADMISSION TO THE GALLERY AND PUBLIC TALKS ARE ALWAYS FREE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rachel Moore Executive Di | Officer | 40 | $96,703 |
Rebecca Chase Vice Chair | Officer | 1 | $0 |
Diane Arnold Chairperson | Officer | 2 | $0 |
Sophie Brechu-West Secretary | Officer | 1 | $0 |
Catherine Turner Treasurer | Officer | 1 | $0 |
Gunnel Clarke Trustee | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $5,630 |
| Fundraising events | $25,899 |
| Related organizations | $0 |
| Government grants | $69,790 |
| All other contributions, gifts, grants, and similar amounts not included above | $449,439 |
| Noncash contributions included in lines 1a–1f | $40,132 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $550,758 |
| Total Program Service Revenue | $120,093 |
| Investment income | $1,595 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $5,617 |
| Net Income from Fundraising Events | -$547 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $677,516 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $92,731 |
| Compensation of current officers, directors, key employees. | $11,128 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $199,555 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $25,562 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,382 |
| Fees for services: Other | $101,781 |
| Advertising and promotion | $15,633 |
| Office expenses | $11,298 |
| Information technology | $6,293 |
| Royalties | $0 |
| Occupancy | $4,603 |
| Travel | $336 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,326 |
| Insurance | $11,809 |
| All other expenses | $22,261 |
| Total functional expenses | $586,183 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $283,673 |
| Savings and temporary cash investments | $330,792 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $7,207 |
| Net Land, buildings, and equipment | $286,756 |
| Investments—publicly traded securities | $133,731 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $8,753 |
| Other assets | $770,057 |
| Total assets | $1,820,969 |
| Accounts payable and accrued expenses | $22,424 |
| Grants payable | $0 |
| Deferred revenue | $43,672 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $10,473 |
| Total liabilities | $76,569 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $1,744,400 |
| Total liabilities and net assets/fund balances | $1,820,969 |
Grants Recieved
Over the last fiscal year, we have identified 11 grants that The Current Inc has recieved totaling $114,584.
| Awarding Organization | Amount |
|---|---|
The Andy Warhol Foundation For The Visual Arts Inc New York, NY PURPOSE: PROGRAM SUPPORT (OVER 2 YEARS) | $40,000 |
Vermont Council On The Arts Inc Montpelier, VT PURPOSE: GENERAL PURPOSE | $32,200 |
New England Foundation For The Arts Inc Boston, MA PURPOSE: GENERAL OPERATING, CREATION AND/OR PRESENTING SUPPORT | $10,000 |
Vermont Community Foundation Middlebury, VT PURPOSE: GENERAL PURPOSE | $10,000 |
Vermont Community Foundation Middlebury, VT PURPOSE: GENERAL PURPOSE | $8,734 |
Schwab Charitable Fund San Francisco, CA PURPOSE: ARTS, CULTURE & HUMANITIES | $5,900 |
Endowment Analysis
| Beg. Balance | $108,620 |
| Earnings | $9,538 |
| Admin Expense | $1,486 |
| Other Expense | $5,595 |
| Ending Balance | $111,077 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Andy Warhol Foundation For The Visual Arts Inc New York, NY | $375,628,094 | $51,526,373 |
Production Industrial Tech Textile & Prof Employees Loc 124 Wlfr Fund Valhalla, NY | $838,103 | $5,998,825 |
Lily Auchincloss Foundation Inc New York, NY | $46,827,043 | $6,935,321 |
Solow Art And Architecture Foundation New York, NY | $241,786,081 | $29,285,009 |
Municipal Art Society Of New York New York, NY | $12,093,728 | $3,370,052 |
The Wildenstein Plattner Institute New York, NY | $1,898,409 | $4,064,152 |
Drawing Center Inc New York, NY | $11,094,197 | $3,697,448 |
Van Alen Institute Projects In Public Architecture Brooklyn, NY | $44,490,814 | $3,072,994 |
Urbanglass New York Contemporary Glass Center Inc Brooklyn, NY | $1,687,992 | $2,437,335 |
American Institute Of Architects New York, NY | $10,952,534 | $3,079,461 |
Williamstown Art Conservation Center Inc Williamstown, MA | $5,527,048 | $2,431,960 |
Sculpture Center Inc Long Island City, NY | $6,449,144 | $2,106,254 |