Civic Intelligence

Middlebury Studio School

990 • Fiscal year 2023 • EIN 26-4711953

Jan 01, 2023 to Dec 31, 2023 • Filed on May 08, 2024

Organization ProfileWWW.MIDDLEBURYSTUDIOSCHOOL.ORG
2377 Rte 7 SouthMiddlebury, VT 05753-1455

(802) 458-8979

Siviq Scores

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

Liabilities / Assets

61st percentile

0.05x

Higher debt load relative to assets than 61% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Liabilities / Revenue

67th percentile

0.09x

Higher debt load relative to revenue than 67% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Net Margin

64th percentile

12%

Higher net margin than 64% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Top Officer Pay

72nd percentile

$60,192

Higher top officer pay than 72% of similar nonprofits.

Top officer pay equals 17.4% of source-year revenue.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Asset Growth

62nd percentile

9.7%

Faster asset growth than 62% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Revenue Growth

67th percentile

23%

Faster revenue growth than 67% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets61st percentile

Assets

Up

$580,746

Up $51,159 (+9.7%) from 2022

Net Assets

Up

$548,903

Up $46,672 (+9.3%) from 2022

Liabilities

Up

$31,843

Up $4,487 (+16%) from 2022

Revenue And Expenses
Liabilities / Revenue67th percentileNet Margin64th percentile

Revenue

Up

$346,085

Up $65,851 (+23%) from 2022

Expenses

Up

$303,193

Up $13,898 (+4.8%) from 2022

Net Income

Up

$42,892

Up $51,953 (+573%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth62nd percentile

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

$600K$400K$200K$0Assets 2010: $23,939Liabilities 2010: $2,471Net Assets 2010: $21,4682010Assets 2011: $24,047Liabilities 2011: $715Net Assets 2011: $23,3322011Assets 2012: $30,131Liabilities 2012: $882Net Assets 2012: $29,2492012Assets 2013: $29,954Liabilities 2013: $915Net Assets 2013: $29,0392013Assets 2014: $37,210Liabilities 2014: $896Net Assets 2014: $36,3142014Assets 2015: $41,173Liabilities 2015: $1,038Net Assets 2015: $40,1352015Assets 2016: $381,389Liabilities 2016: $1,091Net Assets 2016: $380,2982016Assets 2017: $408,669Liabilities 2017: $1,046Net Assets 2017: $407,6232017Assets 2018: $408,667Liabilities 2018: $1,216Net Assets 2018: $407,4512018Assets 2019: $433,949Liabilities 2019: $1,443Net Assets 2019: $432,5062019Assets 2020: $466,170Liabilities 2020: $3,779Net Assets 2020: $462,3912020Assets 2021: $527,610Liabilities 2021: $7,394Net Assets 2021: $520,2162021Assets 2022: $529,587Liabilities 2022: $27,356Net Assets 2022: $502,2312022Assets 2023: $580,746Liabilities 2023: $31,843Net Assets 2023: $548,9032023Assets 2024: $591,685Liabilities 2024: $26,702Net Assets 2024: $564,9832024

Highlighted filing

2023

Assets$580,746
Liabilities$31,843
Net Assets$548,903
Open 2023 Filing

Operations Trend

Revenue Growth67th percentile

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

$600K$400K$200K$0-$200KExpenses 2010: $59,1082010Expenses 2011: $63,1952011Expenses 2012: $74,8302012Revenue 2013: $78,544Expenses 2013: $78,754Net Income 2013: -$2102013Revenue 2014: $85,146Expenses 2014: $77,871Net Income 2014: $7,2752014Revenue 2015: $109,518Expenses 2015: $105,697Net Income 2015: $3,8212015Revenue 2016: $435,848Expenses 2016: $95,569Net Income 2016: $340,2792016Revenue 2017: $140,562Expenses 2017: $116,461Net Income 2017: $24,1012017Revenue 2018: $145,532Expenses 2018: $142,866Net Income 2018: $2,6662018Revenue 2019: $156,905Expenses 2019: $137,294Net Income 2019: $19,6112019Revenue 2020: $171,388Expenses 2020: $144,273Net Income 2020: $27,1152020Revenue 2021: $254,244Expenses 2021: $235,580Net Income 2021: $18,6642021Revenue 2022: $280,234Expenses 2022: $289,295Net Income 2022: -$9,0612022Revenue 2023: $346,085Expenses 2023: $303,193Net Income 2023: $42,8922023Revenue 2024: $340,131Expenses 2024: $326,920Net Income 2024: $13,2112024

Highlighted filing

2023

Revenue$346,085
Expenses$303,193
Net Income$42,892
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
May 8, 2024
Return Version
2023v5.0
Gross Receipts
$360,597
Mission and Program Overview

Mission

Craft and fine arts education

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$246,497$256,876▲ $10,379
Savings and Temporary Cash Investments$55,054$205,765▲ $150,711
Cash and Non-Interest-Bearing Accounts$226,636$115,759▼ $110,877
Prepaid Expenses and Deferred Charges$1,400$2,346▲ $946
Total Assets$529,587$580,746▲ $51,159
Liabilities
Accounts Payable and Accrued Expenses$11,986$16,393▲ $4,407
Other Liabilities$15,370$15,450▲ $80
Total Liabilities$27,356$31,843▲ $4,487
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$487,861$534,533▲ $46,672
Net Assets With Donor Restrictions$14,370$14,370→ $0
Total Net Assets Fund Balance$502,231$548,903▲ $46,672
Total Liabilities and Net Assets / Fund Balance$529,587$580,746▲ $51,159

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$182,259$73,678$255,937
Land$50,000-$50,000
Buildings$24,617$754$25,371
Compensation and Service Providers
Top Officer Pay72nd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Sarah BriggsExecutive DiFT$60,192$60,192
Mary LowerPresident-$4,875$4,875

Board Members and Trustees

NameTitle
Barbara Z NelsonMember
Jane KimbleMember
Judson HescockMember
Leslie KamenyMember
Michael SeligmannMember
Michaela GranstromSecretary
Barbara a NelsonTreasurer
Jill MaddenVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$152,847
Program Service Revenue
$188,481
Investment Income
$6,549
Other Revenue
$-1,792
All Other Contributions
$138,114
Change in Net Assets
$42,892
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$205,489
Other Expenses$97,704
Total Fundraising Expense$5,096
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$125,374--$125,374
Current Officers, Directors, Trustees, and Key Employees-$65,067-$65,067
Occupancy$29,658--$29,658
Payroll Taxes$9,978$5,070-$15,048
Office Expenses$7,910--$7,910
Depreciation Depletion$6,066--$6,066
Fees for Services Accounting$5,710--$5,710
Other Expenses$3,790-$5,096$3,790
All Other Expenses$3,084--$3,084
Insurance$2,896--$2,896
Advertising$1,261--$1,261
Interest$24--$24
Total Functional Expenses$227,960$70,137$5,096$303,193
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Unexpended Restricted Grants$14,370
Security Deposits$1,080
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
No
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
No
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

“Written financial records are available upon request from any director”

Form 990, Page 6, Part VI, Line 11B

“Governing body reviewed 990 by email before submission.”

Form 990, Page 6, Part VI, Line 12C

“Organization has a written conflict of interest policy that is reviewed and signed annually by the directors.”

Form 990, Page 6, Part VI, Line 15A

“The board of directors conducts an annual performance review of the executive director and the financial health of the organization to determine if a bonus or raise is appropriate. This requires approval by individuals on the board of directors.”

Form 990, Page 6, Part VI, Line 19

“Written financial records are available upon request from any director or the executive director.”

Filing and Contact Details

Filer

Filer Name
Middlebury Studio School
EIN
26-4711953
Phone
8024588979
Address
2377 RTE 7 SOUTH, MIDDLEBURY, VT 05753-1455

Signing Officer

Name
Sarah Briggs
Title
Executive Director
Phone
8024588979
Signed
2024-05-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Sarah Briggs
Formed
2009
Legal Domicile
Vt
Voting Board Members
9
Independent Board Members
9
Employees
29
Volunteers
20

Preparer

Firm
Marble Trail Financial
Address
5 COURT ST FL 2, MIDDLEBURY, VT 05753
Preparer
Steven M Misasi CPA
Phone
8023886300
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

“Provide crafts and fine arts education opportunities in the community for people of all ages and abilities.”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0ALL SCHOOL PUBLICATIONS STATE THAT STUDENTS AND STAFF ARE NOT DISCRIMINATED AGAINST WITH RESPECT TO RACE, SEXUAL ORIENTATION, SEX OR ANY OTHER FACTOR.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1MIDDLEBURY STUDIO SCHOOL RECEIVES GRANTS FROM THE VERMONT ARTS COUNCIL, WHO IN TURN RECEIVES FEDERAL FUNDS TO DISTRIBUTE. THUS, MIDDLEBURY STUDIO SCHOOL INDIRECTLY RECEIVES FEDERAL AID.
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IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, LINE 6
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0PROVIDE CRAFTS AND FINE ARTS EDUCATION OPPORTUNITIES IN THE COMMUNITY FOR PEOPLE OF ALL AGES AND ABILITIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1WRITTEN FINANCIAL RECORDS ARE AVAILABLE UPON REQUEST FROM ANY DIRECTOR
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2GOVERNING BODY REVIEWED 990 BY EMAIL BEFORE SUBMISSION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ORGANIZATION HAS A WRITTEN CONFLICT OF INTEREST POLICY THAT IS REVIEWED AND SIGNED ANNUALLY BY THE DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE BOARD OF DIRECTORS CONDUCTS AN ANNUAL PERFORMANCE REVIEW OF THE EXECUTIVE DIRECTOR AND THE FINANCIAL HEALTH OF THE ORGANIZATION TO DETERMINE IF A BONUS OR RAISE IS APPROPRIATE. THIS REQUIRES APPROVAL BY INDIVIDUALS ON THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5WRITTEN FINANCIAL RECORDS ARE AVAILABLE UPON REQUEST FROM ANY DIRECTOR OR THE EXECUTIVE DIRECTOR.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15A
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IRS990/WebsiteAddressTxt0WWW.MIDDLEBURYSTUDIOSCHOOL.ORG
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ReturnHeader/BuildTS02023-04-26 12:10:37Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0SARAH BRIGGS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum08024588979
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-05-08
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ReturnHeader/PreparerPersonGrp/PreparationDt02024-05-08
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0STEVEN M MISASI CPA
ReturnHeader/ReturnTs02024-05-09T12:38:13-04:00
ReturnHeader/ReturnTypeCd0990

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$580,746
Liabilities
$31,843
Net assets
$548,903
Revenue
$346,085
Expenses
$303,193
Net income
$42,892
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.92$0.27$5.65$3.40$3.27$0.13
2023Detailed filing. Detailed filing data is available for this year.$5.81$0.32$5.49$3.46$3.03$0.43
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.30$0.27$5.02$2.80$2.89$0.09
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.28$0.07$5.20$2.54$2.36$0.19
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.66$0.04$4.62$1.71$1.44$0.27
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.34$0.01$4.33$1.57$1.37$0.20
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.09$0.01$4.07$1.46$1.43$0.03
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.09$0.01$4.08$1.41$1.16$0.24
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.81$0.01$3.80$4.36$0.96$3.40
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.41$0.01$0.40$1.10$1.06$0.04
2014Detailed filing. Detailed filing data is available for this year.$0.37$0.01$0.36$0.85$0.78$0.07
2013Detailed filing. Detailed filing data is available for this year.$0.30$0.01$0.29$0.79$0.79$0.00
2012XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.30$0.01$0.29$0.75
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.24$0.01$0.23$0.63
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.24$0.02$0.21$0.59