The Current Inc

Analysis

The Current Inc is a registered charity in United States, based in Stowe, VT. It received its IRS tax-exemption ruling in March 1983, 43 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, The Current Inc reported income of $704k and spending of $831k, spending 118% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.4m to $704k (-49%), an average of -15% a year. The sharpest change came in the year to December 2020, when income dropped by 37%. Over the whole period it spent 70% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, The Current Inc sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 72nd percentile within VT. Charities of a similar size with the same main cause include Iranian American Community Center ($704k), Greater Broadway Partnership ($704k) and Museo Italo-Americano ($704k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 62% and program service revenue 26% of the total. Compensation of current officers, directors and key employees was $99k (12% of expenses). Other salaries and wages came to $360k. At year end it held assets of $1.6m against liabilities of $98k, net assets of $1.5m. It reported 17 employees.