Civic Intelligence

Vermont Studio Center Inc.

990 • Fiscal year 2014 • EIN 22-2478074

Jan 01, 2014 to Dec 31, 2014 • Filed on Nov 06, 2015

PO Box 613Johnson, VT 05656

(802) 635-2727

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

29th percentile

0.07x

Higher debt load relative to assets than 29% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2014

Liabilities / Revenue

33rd percentile

0.13x

Higher debt load relative to revenue than 33% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2014

Net Margin

84th percentile

31%

Higher net margin than 84% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2014

Top Officer Pay

27th percentile

$112,692

Higher top officer pay than 27% of similar nonprofits.

Top officer pay equals 1.9% of source-year revenue.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2014

Asset Growth

86th percentile

20%

Faster asset growth than 86% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2013 to 2014

Revenue Growth

78th percentile

22%

Faster revenue growth than 78% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2013 to 2014

Assets

Up

$10,490,706

Up $1,764,832 (+20%) from 2013

Net Assets

Up

$9,736,645

Up $1,866,668 (+24%) from 2013

Liabilities

Down

$754,061

Down $101,836 (-12%) from 2013

Revenue

Up

$5,965,396

Up $1,070,433 (+22%) from 2013

Expenses

Down

$4,098,728

Down $153,307 (-3.6%) from 2013

Net Income

Up

$1,866,668

Up $1,223,740 (+190%) from 2013

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$30M$20M$10M$0Assets 2010: $7,845,550Liabilities 2010: $1,194,805Net Assets 2010: $6,650,7452010Assets 2011: $7,563,967Liabilities 2011: $1,023,046Net Assets 2011: $6,540,9212011Assets 2012: $7,878,902Liabilities 2012: $913,812Net Assets 2012: $6,965,0902012Assets 2013: $8,725,874Liabilities 2013: $855,897Net Assets 2013: $7,869,9772013Assets 2014: $10,490,706Liabilities 2014: $754,061Net Assets 2014: $9,736,6452014Assets 2015: $11,587,526Liabilities 2015: $528,331Net Assets 2015: $11,059,1952015Assets 2016: $12,546,149Liabilities 2016: $880,698Net Assets 2016: $11,665,4512016Assets 2017: $13,909,529Liabilities 2017: $558,769Net Assets 2017: $13,350,7602017Assets 2018: $13,029,821Liabilities 2018: $495,561Net Assets 2018: $12,534,2602018Assets 2019: $15,461,385Liabilities 2019: $894,657Net Assets 2019: $14,566,7282019Assets 2020: $16,798,643Liabilities 2020: $686,670Net Assets 2020: $16,111,9732020Assets 2021: $18,966,980Liabilities 2021: $242,142Net Assets 2021: $18,724,8382021Assets 2022: $17,171,734Liabilities 2022: $355,448Net Assets 2022: $16,816,2862022Assets 2023: $18,150,526Liabilities 2023: $474,231Net Assets 2023: $17,676,2952023Assets 2024: $24,575,693Liabilities 2024: $553,435Net Assets 2024: $24,022,2582024

Highlighted filing

2014

Assets$10,490,706
Liabilities$754,061
Net Assets$9,736,645

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$15M$10M$5.0M$0-$5.0MRevenue 2010: $5,825,051Expenses 2010: $3,884,070Net Income 2010: $1,940,9812010Revenue 2011: $4,092,534Expenses 2011: $4,074,287Net Income 2011: $18,2472011Expenses 2012: $4,144,8792012Revenue 2013: $4,894,963Expenses 2013: $4,252,035Net Income 2013: $642,9282013Revenue 2014: $5,965,396Expenses 2014: $4,098,728Net Income 2014: $1,866,6682014Revenue 2015: $5,643,549Expenses 2015: $4,320,999Net Income 2015: $1,322,5502015Revenue 2016: $4,751,918Expenses 2016: $4,290,796Net Income 2016: $461,1222016Revenue 2017: $5,907,598Expenses 2017: $4,703,118Net Income 2017: $1,204,4802017Revenue 2018: $5,292,062Expenses 2018: $5,040,228Net Income 2018: $251,8342018Revenue 2019: $6,139,067Expenses 2019: $5,152,628Net Income 2019: $986,4392019Revenue 2020: $5,042,680Expenses 2020: $3,389,606Net Income 2020: $1,653,0742020Revenue 2021: $4,687,878Expenses 2021: $2,251,294Net Income 2021: $2,436,5842021Revenue 2022: $4,518,503Expenses 2022: $5,007,258Net Income 2022: -$488,7552022Revenue 2023: $6,476,898Expenses 2023: $6,159,882Net Income 2023: $317,0162023Revenue 2024: $13,021,075Expenses 2024: $6,934,710Net Income 2024: $6,086,3652024

Highlighted filing

2014

Revenue$5,965,396
Expenses$4,098,728
Net Income$1,866,668
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Nov 6, 2015
Return Version
2014v5.0
Gross Receipts
$6,014,334
Mission and Program Overview

Mission

To support artists and writers by providing studio residencies in an inclusive international community, honoring creative work as the communication of spirit through form.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$4,823,003$5,422,846▲ $599,843
Land, Buildings, and Equipment, Net$3,385,454$3,392,214▲ $6,760
Pledges and Grants Receivable$362,356$1,480,606▲ $1,118,250
Cash and Non-Interest-Bearing Accounts$108,239$139,882▲ $31,643
Accounts Receivable$30,371$30,858▲ $487
Prepaid Expenses and Deferred Charges$16,451$24,300▲ $7,849
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$8,725,874$10,490,706▲ $1,764,832
Other Assets Total-$0-
Liabilities
Mortgage Notes Payable Secured by Investment Property$393,684$332,380▼ $61,304
Deferred Revenue$359,590$302,247▼ $57,343
Accounts Payable and Accrued Expenses$102,623$119,434▲ $16,811
Total Liabilities$855,897$754,061▼ $101,836
Net Assets / Fund Balance
Permanently Rstr Net Assets$3,076,279$4,572,802▲ $1,496,523
Unrestricted Net Assets$4,431,695$4,494,654▲ $62,959
Temporarily Rstr Net Assets$362,003$669,189▲ $307,186
Total Net Assets Fund Balance$7,869,977$9,736,645▲ $1,866,668
Total Liabilities and Net Assets / Fund Balance$8,725,874$10,490,706▲ $1,764,832

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,984,660$1,993,403$4,978,063
Equipment$115,052$514,732$629,784
Land$292,502-$292,502

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2014$5,156,347$1,496,523▲ $196,270$167,033$6,682,107
2013$4,163,636$475,572▲ $651,576$134,437$5,156,347
2012$3,777,927$37,970▲ $450,087$102,348$4,163,636
2011$3,989,618$14,560▲ $18,414$244,665$3,777,927
2010$1,790,229$2,000,125▲ $199,264-$3,989,618
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Gary ClarkPresidentFT$90,350$22,342$112,692
Johnathan T GreggTrusteeFT$75,443$5,497$80,940
Steven FabianoControllerFT$46,781$5,245$52,026
George PearlmanExecutive DirectorFT$13,333$14,986$28,319
Revenue and Support

Revenue Composition

Contributions and Grants
$3,020,636
Program Service Revenue
$2,698,614
Investment Income
$196,271
Other Revenue
$49,875
All Other Contributions
$3,020,636
Change in Net Assets
$1,866,668

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported Amount
Securities Publicly Traded5$87,332
Total Noncash Contributions5$87,332

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,778,365
Revenue Not Reported on Financial Statements
$1,187,031
Other Revenue Adjustments
$1,187,031
Total Revenue per Audited Statements
$4,778,365
Total Revenue per Form 990
$5,965,396
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,490,553
Other Expenses$1,413,946
Grants and Similar Amounts Paid$1,187,031
Total Fundraising Expense$399,498
Professional Fundraising Fees$7,198

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$1,187,031--$1,187,031
Other Salaries and Wages$604,028$239,346$78,414$921,788
Current Officers, Directors, Trustees, and Key Employees$17,154$46,781$165,793$229,728
Occupancy$195,267$13,164$10,970$219,401
Other Employee Benefits$104,394$65,415$18,520$188,329
Travel$166,948$798$8,361$176,107
All Other Expenses$100,643$39,463$35,452$175,558
Depreciation Depletion$139,214$13,102$11,465$163,781
Payroll Taxes$53,319$25,489$21,760$100,568
Pension Plan Contributions$6,924$6,482$36,734$50,140
Fees for Services Accounting-$45,266-$45,266
Other Expenses$42,058--$42,058
Fees for Services Other$37,697--$37,697
Insurance$25,060--$25,060
Office Expenses-$19,123$4,831$23,954
Advertising$21,196--$21,196
Interest$14,935--$14,935
Fees for Services Professional Fundraising--$7,198$7,198
Fees for Services Legal-$472-$472
Total Functional Expenses$3,184,329$514,901$399,498$4,098,728

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$4,098,728
Expenses per Audited Statements$2,911,697
Total Expenses per Audited Statements$2,911,697
Expenses Not Reported on Financial Statements$1,187,031
Other Expense Adjustments$1,187,031
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$7,198
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et

President, jonathan gregg & vice president, louise von weise are husband and wife.

Form 990, Part VI, Line 11B: Form 990 Review Process

Form 990 is reviewed by the audit committee prior to filing. The full form 990 is available to all board members upon request.

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

The organization developed a strategic plan for salaries which outlined salary ranges for key employees.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

All documents are available upon request. Form 990 is available at guidestar.org

Filing and Contact Details

Filer

Filer Name
Vermont Studio Center Inc
EIN
22-2478074
Phone
8026352727
Address
PO BOX 613, JOHNSON, VT 05656

Signing Officer

Name
Gary Clark
Title
President
Signed
2015-11-06
Discuss with paid preparer
Yes

Organization Details

Formed
1983
Legal Domicile
Vt
Voting Board Members
22
Independent Board Members
21
Employees
60
Volunteers
25

Preparer

Firm
OBrien Shortle Reynolds & Sabotka PC
Address
54 North Main Street, Rutland, VT 05701
Preparer
James B Reynolds
Phone
8027738344
Supplemental Narrative

Additional Explanations

Amended Explanation

Certain disclosures have been embellished since the orgiginal return was filed.

Financial Statement Notes

Part V, Line 4: Intended uses of the endowment fund.

Endowment funds are intended to further the mission of the organization

Part XI, Line 4B: Other revenue amounts included on 990 but not included in F/S

Scholarships netted on f/s $1187031

Part XII, Line 4B: Other revenue amounts included on 990 but not included in F/S

Scholarships netted on f/s $1187031

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IRS990/Form990PartVIISectionAGrp/TitleTxt2Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt3VICE CO-CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt4Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt5Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt6Trustee
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IRS990/Form990PartVIISectionAGrp/TitleTxt10Trustee
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IRS990/Form990PartVIISectionAGrp/TitleTxt12Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt13Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt14Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt15Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt16Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt17Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt18Trustee
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IRS990/Form990PartVIISectionAGrp/TitleTxt20Trustee
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IRS990/Form990PartVIISectionAGrp/TitleTxt22Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt23Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt24Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt25President
IRS990/Form990PartVIISectionAGrp/TitleTxt26Controller
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IRS990/MissionDesc0TO SUPPORT ARTISTS AND WRITERS BY PROVIDING STUDIO RESIDENCIES IN AN INCLUSIVE INTERNATIONAL COMMUNITY, HONORING CREATIVE WORK AS THE COMMUNICATION OF SPIRIT THROUGH FORM.
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$24.6$0.55$24.0$13.0$6.93$6.09
2023Detailed filing. Detailed filing data is available for this year.$18.2$0.47$17.7$6.48$6.16$0.32
2022Detailed filing. Detailed filing data is available for this year.$17.2$0.36$16.8$4.52$5.01$0.49
2021Detailed filing. Detailed filing data is available for this year.$19.0$0.24$18.7$4.69$2.25$2.44
2020Detailed filing. Detailed filing data is available for this year.$16.8$0.69$16.1$5.04$3.39$1.65
2019Detailed filing. Detailed filing data is available for this year.$15.5$0.89$14.6$6.14$5.15$0.99
2018Detailed filing. Detailed filing data is available for this year.$13.0$0.50$12.5$5.29$5.04$0.25
2017Detailed filing. Detailed filing data is available for this year.$13.9$0.56$13.4$5.91$4.70$1.20
2016Detailed filing. Detailed filing data is available for this year.$12.5$0.88$11.7$4.75$4.29$0.46
2015Detailed filing. Detailed filing data is available for this year.$11.6$0.53$11.1$5.64$4.32$1.32
2014Detailed filing. Detailed filing data is available for this year.$10.5$0.75$9.74$5.97$4.10$1.87
2013Detailed filing. Detailed filing data is available for this year.$8.73$0.86$7.87$4.89$4.25$0.64
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.88$0.91$6.97$4.14
2011Summary only. Only limited summary data is available for this year.$7.56$1.02$6.54$4.09$4.07$0.02
2010Summary only. Only limited summary data is available for this year.$7.85$1.19$6.65$5.83$3.88$1.94