Civic Intelligence

Hudson Valley Current Inc.

990 • Fiscal year 2022 • EIN 46-4836595

Jan 01, 2022 to Dec 31, 2022 • Filed on Mar 15, 2024

628 BroadwayKingston, NY 12401

(845) 663-2286

Siviq Scores

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

Liabilities / Assets

98th percentile

4.53x

Higher debt load relative to assets than 98% of similar nonprofits.

2022 filings • NTEE S20 • <$500k nonprofits • Source year 2022

Liabilities / Revenue

89th percentile

0.38x

Higher debt load relative to revenue than 89% of similar nonprofits.

2022 filings • NTEE S20 • <$500k nonprofits • Source year 2022

Net Margin

31st percentile

-4.3%

Higher net margin than 31% of similar nonprofits.

2022 filings • NTEE S20 • <$500k nonprofits • Source year 2022

Top Officer Pay

100th percentile

$134,693

Higher top officer pay than 100% of similar nonprofits.

Top officer pay equals 33.9% of source-year revenue.

2022 filings • NTEE S20 • <$500k nonprofits • Source year 2022

Asset Growth

26th percentile

-16%

Faster asset growth than 26% of similar nonprofits.

2022 filings • NTEE S20 • <$500k nonprofits • Annualized from 2021 to 2022

Revenue Growth

51st percentile

12%

Faster revenue growth than 51% of similar nonprofits.

2022 filings • NTEE S20 • <$500k nonprofits • Annualized from 2021 to 2022

Assets

Down

$33,474

Down $6,292 (-16%) from 2021

Net Assets

Down

-$118,147

Down $16,902 (-17%) from 2021

Liabilities

Up

$151,621

Up $10,610 (+7.5%) from 2021

Revenue

Up

$397,220

Up $44,014 (+12%) from 2021

Expenses

Up

$414,222

Up $126,139 (+44%) from 2021

Net Income

Down

-$17,002

Down $82,125 (-126%) from 2021

Historical Trend

Balance Sheet Trend

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

$400K$200K$0-$200KAssets 2015: $7,997Liabilities 2015: $5342015Assets 2016: -$14,195Liabilities 2016: $10,0442016Assets 2017: $1,246Liabilities 2017: $4,6602017Assets 2018: $13,240Liabilities 2018: $21,2742018Assets 2019: $7,277Liabilities 2019: $48,897Net Assets 2019: -$41,6202019Assets 2020: $31,338Liabilities 2020: $197,606Net Assets 2020: -$166,2682020Assets 2021: $39,766Liabilities 2021: $141,011Net Assets 2021: -$101,2452021Assets 2022: $33,474Liabilities 2022: $151,621Net Assets 2022: -$118,1472022Assets 2023: $88,577Liabilities 2023: $144,716Net Assets 2023: -$56,1392023Assets 2024: $76,173Liabilities 2024: $264,975Net Assets 2024: -$188,8022024

Highlighted filing

2022

Assets$33,474
Liabilities$151,621
Net Assets-$118,147

Operations Trend

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

$1.0M$500K$0-$500KRevenue 2015: $121,439Expenses 2015: $113,976Net Income 2015: $7,4632015Revenue 2016: $103,154Expenses 2016: $134,856Net Income 2016: -$31,7022016Revenue 2017: $172,412Expenses 2017: $151,587Net Income 2017: $20,8252017Revenue 2018: $137,631Expenses 2018: $142,251Net Income 2018: -$4,6202018Revenue 2019: $140,004Expenses 2019: $173,590Net Income 2019: -$33,5862019Revenue 2020: $441,424Expenses 2020: $544,143Net Income 2020: -$102,7192020Revenue 2021: $353,206Expenses 2021: $288,083Net Income 2021: $65,1232021Revenue 2022: $397,220Expenses 2022: $414,222Net Income 2022: -$17,0022022Revenue 2023: $612,938Expenses 2023: $550,930Net Income 2023: $62,0082023Revenue 2024: $583,958Expenses 2024: $716,141Net Income 2024: -$132,1832024

Highlighted filing

2022

Revenue$397,220
Expenses$414,222
Net Income-$17,002
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Mar 15, 2024
Return Version
2022v5.0
Gross Receipts
$397,220
Mission and Program Overview

Mission

To promote local community building through sustainable economic development and to help feed the need in our community

To promote local community building through sustainable economic development and to help feed the need in our community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$16,788$21,968▲ $5,180
Loans From Officers Directors$8,200$5,000▼ $3,200
Accounts Receivable$15,965$3,722▼ $12,243
Inventories for Sale or Use$880$880→ $0
Cash and Non-Interest-Bearing Accounts-$771-
Total Assets$39,766$33,474▼ $6,292
Other Assets Total$6,133$6,133→ $0
Liabilities
Other Liabilities$81,965$58,516▼ $23,449
Accounts Payable and Accrued Expenses$26,225$46,049▲ $19,824
Deferred Revenue-$22,150-
Unsecured Notes Loans Payable$24,621$19,906▼ $4,715
Total Liabilities$141,011$151,621▲ $10,610
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-101,245$-118,147▼ $16,902
Total Net Assets Fund Balance$-101,245$-118,147▼ $16,902
Total Liabilities and Net Assets / Fund Balance$39,766$33,474▼ $6,292

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$17,514$8,036$25,550
Other Land Buildings$4,454$4,134$8,588
Other Assets Org$397--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Christopher HewittExecutive DiFT$134,693$134,693

Board Members and Trustees

NameTitle
David MccarthyBoard Chair
Kaustubh WahalBoard Member
Ron KimBoard Member
Shaniqua BowdenSecretary
Michael CaslinTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$321,661
Program Service Revenue
$64,268
Investment Income
$88
Other Revenue
$11,203
All Other Contributions
$321,661
Change in Net Assets
$-17,002
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$245,047
Other Expenses$169,175
Total Fundraising Expense$7,070
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$114,489$13,469$6,735$134,693
Other Salaries and Wages$86,854$9,650-$96,504
Other Expenses$79,698--$79,698
Occupancy$38,752$4,307-$43,059
Fees for Services Other$9,693$9,000-$18,693
Payroll Taxes$11,707$1,338$335$13,380
Office Expenses$5,069$1,690-$6,759
Information Technology$5,302--$5,302
Depreciation Depletion$4,620--$4,620
Advertising$3,954--$3,954
Fees for Services Accounting-$3,625-$3,625
Insurance$2,468--$2,468
Travel$603--$603
Other Employee Benefits$423$47-$470
Interest$394--$394
Total Functional Expenses$364,026$43,126$7,070$414,222
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$7,440
Professional Fundraising Fees$0
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
Loans from Officers, Directors, Trustees, and Key Employees$8,200$5,000▼ $3,200
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Current Accounts$58,516
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
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, Page 6, Part VI, Line 11B

The executive director reviews and approves the form 990 before it is filed with the irs.

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

To ensure that hudson valley current operates in a manner consistent with charitable purposes and does not engage in activities that could jeopardize its tax-exempt status, periodic reviews shall be conducted. The periodic reviews shall, at a minimum, include the following subjects: a. Whether compensation arrangements and benefits are reasonable, based on competent survey information, and the result of arms length bargaining. B. Whether partnerships, joint ventures, and arrangements conform to hudson valley currents written policies, are properly recorded, reflect reasonable investment or payments for goods and services, further charitable purposes and do not result in inurement, impermissible private benefit, or in an excess benefit transaction.

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

The board reviews and approves any pay increase for the executive director's salary periodically.

Form 990, Page 6, Part VI, Line 19

AVAILABLE UPON REQUEST

Filing and Contact Details

Filer

Filer Name
Hudson Valley Current Inc
EIN
46-4836595
Phone
8456632286
Address
628 BROADWAY, KINGSTON, NY 12401

Signing Officer

Name
Christopher Hewitt
Title
Executive Director
Phone
8456632286
Signed
2024-03-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Christopher Hewitt
Formed
2014
Legal Domicile
Ny
Voting Board Members
6
Independent Board Members
5
Employees
8
Volunteers
5

Preparer

Firm
Rbt Cpas Llp
Address
2678 SOUTH RD STE 101, POUGHKEEPSIE, NY 12601-5254
Preparer
Elissa N Casa CPA
Phone
8454855510
Supplemental Narrative

Additional Explanations

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

Other programming and related expenditures.

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IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt01505
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0227803
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.44770
IRS990ScheduleA/PublicSupportTotal170Amt0616435
IRS990ScheduleA/SubstantialContributorsTotAmt0752463
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0321661
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0300018
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0384414
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0258191
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0104614
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01368898
IRS990ScheduleA/TotalSupportAmt01376843
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/CurrentTaxYearAmt06440
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt06440
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/EquipmentGrp/BookValueAmt017514
IRS990ScheduleD/EquipmentGrp/DepreciationAmt08036
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt025550
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt05736
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1397
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0SECURITY DEPOSIT
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1GIFT CERTIFICATES
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt04454
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt04134
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt08588
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt058516
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0CURRENT ACCOUNTS
IRS990ScheduleD/TotalBookValueLandBuildingsAmt021968
IRS990ScheduleD/TotalBookValueOtherAssetsAmt06133
IRS990ScheduleD/TotalLiabilityAmt058516
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt05000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd0false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd0false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0ADVANCE TO ORGANIZATION
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanToOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt05000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0CHRISTOPHER HEWITT
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0OFFICER
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd0false
IRS990ScheduleL/TotalBalanceDueAmt05000
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0OTHER PROGRAMMING AND RELATED EXPENDITURES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE EXECUTIVE DIRECTOR REVIEWS AND APPROVES THE FORM 990 BEFORE IT IS FILED WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2TO ENSURE THAT HUDSON VALLEY CURRENT OPERATES IN A MANNER CONSISTENT WITH CHARITABLE PURPOSES AND DOES NOT ENGAGE IN ACTIVITIES THAT COULD JEOPARDIZE ITS TAX-EXEMPT STATUS, PERIODIC REVIEWS SHALL BE CONDUCTED. THE PERIODIC REVIEWS SHALL, AT A MINIMUM, INCLUDE THE FOLLOWING SUBJECTS: A. WHETHER COMPENSATION ARRANGEMENTS AND BENEFITS ARE REASONABLE, BASED ON COMPETENT SURVEY INFORMATION, AND THE RESULT OF ARMS LENGTH BARGAINING. B. WHETHER PARTNERSHIPS, JOINT VENTURES, AND ARRANGEMENTS CONFORM TO HUDSON VALLEY CURRENTS WRITTEN POLICIES, ARE PROPERLY RECORDED, REFLECT REASONABLE INVESTMENT OR PAYMENTS FOR GOODS AND SERVICES, FURTHER CHARITABLE PURPOSES AND DO NOT RESULT IN INUREMENT, IMPERMISSIBLE PRIVATE BENEFIT, OR IN AN EXCESS BENEFIT TRANSACTION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD REVIEWS AND APPROVES ANY PAY INCREASE FOR THE EXECUTIVE DIRECTOR'S SALARY PERIODICALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt039766
IRS990/TotalAssetsEOYAmt033474
IRS990/TotalAssetsGrp/BOYAmt039766
IRS990/TotalAssetsGrp/EOYAmt033474
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0321661
IRS990/TotalEmployeeCnt08
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt07070
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt043126
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0364026
IRS990/TotalFunctionalExpensesGrp/TotalAmt0414222
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0141011
IRS990/TotalLiabilitiesEOYAmt0151621
IRS990/TotalLiabilitiesGrp/BOYAmt0141011
IRS990/TotalLiabilitiesGrp/EOYAmt0151621
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-101245
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-118147
IRS990/TotalOtherProgSrvcExpenseAmt067251
IRS990/TotalOtherProgSrvcRevenueAmt03092
IRS990/TotalProgramServiceExpensesAmt0364026
IRS990/TotalProgramServiceRevenueAmt064268
IRS990/TotalReportableCompFromOrgAmt0134693
IRS990/TotalRevenueGrp/ExclusionAmt07528
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt068031
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0397220
IRS990/TotalVolunteersCnt05
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt039766
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt033474
IRS990/TravelGrp/ProgramServicesAmt0603
IRS990/TravelGrp/TotalAmt0603
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt024621
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt019906
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0628 BROADWAY
IRS990/USAddress/CityNm0KINGSTON
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd012401
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0HUDSONVALLEYCURRENT.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0CHRISTOPHER HEWITT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum08456632286
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-03-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0HUDSON VALLEY CURRENT INC
ReturnHeader/Filer/BusinessNameControlTxt0HUDS
ReturnHeader/Filer/EIN0464836595
ReturnHeader/Filer/PhoneNum08456632286
ReturnHeader/Filer/USAddress/AddressLine1Txt0628 BROADWAY
ReturnHeader/Filer/USAddress/CityNm0KINGSTON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd012401
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0141604297
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0RBT CPAS LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02678 SOUTH RD STE 101

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