Civic Intelligence

Current Innovation Nfp

990 • Fiscal year 2017 • EIN 81-2620127

Jan 01, 2017 to Dec 31, 2017 • Filed on Nov 15, 2018

177 N State Street No 500Chicago, IL 60601

(312) 544-9755

Siviq Scores

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

Liabilities / Assets

67th percentile

0.14x

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

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Liabilities / Revenue

76th percentile

0.22x

Higher debt load relative to revenue than 76% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Net Margin

10th percentile

-28%

Higher net margin than 10% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2017

Asset Growth

22nd percentile

-5.5%

Faster asset growth than 22% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2016 to 2017

Revenue Growth

5th percentile

-44%

Faster revenue growth than 5% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2016 to 2017

Assets

Down

$715,822

Down $41,812 (-5.5%) from 2016

Net Assets

Down

$615,694

Down $131,420 (-18%) from 2016

Liabilities

Up

$100,128

Up $89,608 (+852%) from 2016

Revenue

Down

$461,200

Down $363,800 (-44%) from 2016

Expenses

Up

$592,620

Up $514,734 (+661%) from 2016

Net Income

Down

-$131,420

Down $878,534 (-118%) from 2016

Historical Trend

Balance Sheet Trend

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

$6.0M$4.0M$2.0M$0Assets 2016: $757,634Liabilities 2016: $10,520Net Assets 2016: $747,1142016Assets 2017: $715,822Liabilities 2017: $100,128Net Assets 2017: $615,6942017Assets 2018: $1,077,255Liabilities 2018: $83,776Net Assets 2018: $993,4792018Assets 2019: $1,121,279Liabilities 2019: $66,659Net Assets 2019: $1,054,6202019Assets 2020: $1,320,854Liabilities 2020: $119,696Net Assets 2020: $1,201,1582020Assets 2021: $1,711,019Liabilities 2021: $134,574Net Assets 2021: $1,576,4452021Assets 2022: $1,821,284Liabilities 2022: $335,637Net Assets 2022: $1,485,6472022Assets 2023: $2,015,198Liabilities 2023: $154,885Net Assets 2023: $1,860,3132023Assets 2024: $4,443,838Liabilities 2024: $1,034,229Net Assets 2024: $3,409,6092024

Highlighted filing

2017

Assets$715,822
Liabilities$100,128
Net Assets$615,694

Operations Trend

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2016: $825,000Expenses 2016: $77,886Net Income 2016: $747,1142016Revenue 2017: $461,200Expenses 2017: $592,620Net Income 2017: -$131,4202017Revenue 2018: $1,004,378Expenses 2018: $626,593Net Income 2018: $377,7852018Revenue 2019: $862,688Expenses 2019: $801,547Net Income 2019: $61,1412019Revenue 2020: $812,912Expenses 2020: $666,374Net Income 2020: $146,5382020Revenue 2021: $1,322,171Expenses 2021: $946,884Net Income 2021: $375,2872021Revenue 2022: $1,277,102Expenses 2022: $1,367,900Net Income 2022: -$90,7982022Revenue 2023: $1,971,091Expenses 2023: $1,596,425Net Income 2023: $374,6662023Revenue 2024: $5,868,289Expenses 2024: $4,318,993Net Income 2024: $1,549,2962024

Highlighted filing

2017

Revenue$461,200
Expenses$592,620
Net Income-$131,420
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Nov 15, 2018
Return Version
2017v2.3
Gross Receipts
$461,200
Mission and Program Overview

Mission

Current's mission is to grow an inclusive blue economy, accelerate innovation, and solve persistent water challenges.

Innovations in advanced water research and technology

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$532,634$359,822▼ $172,812
Pledges and Grants Receivable$225,000$350,000▲ $125,000
Loans From Officers Directors-$82,869-
Total Assets$757,634$715,822▼ $41,812
Other Assets Total$0$6,000▲ $6,000
Liabilities
Accounts Payable and Accrued Expenses$10,520$17,259▲ $6,739
Total Liabilities$10,520$100,128▲ $89,608
Net Assets / Fund Balance
Temporarily Rstr Net Assets-$350,000-
Unrestricted Net Assets$747,114$265,694▼ $481,420
Total Net Assets Fund Balance$747,114$615,694▼ $131,420
Total Liabilities and Net Assets / Fund Balance$757,634$715,822▼ $41,812
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Steven FrenkelExecutive DirectorFT$250,000$250,000

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$460,000
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$1,200
All Other Contributions
$160,000
Change in Net Assets
$-131,420

Audited Revenue Reconciliation

Revenue per Audited Statements
$461,200
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$461,200
Total Revenue per Form 990
$461,200
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$448,611
Other Expenses$144,009
Total Fundraising Expense$27,609
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$191,459$37,500$21,041$250,000
Other Salaries and Wages$160,105$9,873-$169,978
Travel$28,162$3,795$1,685$33,642
Payroll Taxes$21,444$2,890$1,283$25,617
Fees for Services Accounting-$16,548-$16,548
Occupancy$10,791$1,454$646$12,891
Insurance$7,662$1,032$459$9,153
Fees for Services Other$3,784$510$227$4,521
Office Expenses$3,413$460$204$4,077
Other Expenses$3,350$452$201$4,003
Advertising$2,876$387$172$3,435
Other Employee Benefits$2,525$340$151$3,016
Total Functional Expenses$461,302$103,709$27,609$592,620

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$592,620
Total Expenses per Audited Statements$592,620
Total Expenses per Form 990$592,620
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees-$82,869-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
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
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, Section B, line 11B

The Form 990 was reviewed and approved by the Board Treasurer and Executive Director and was provided to the entire Board prior to filing.

Form 990, Part VI, Section B, line 15A

A compensation study was performed during the hiring of the Executive Director. The Board reviews the Executive Director's salary annually.

Form 990, Part VI, Section C, line 19

The Organizing documents and financial statements are available upon request.

Filing and Contact Details

Filer

Filer Name
Current Innovation NFP
EIN
81-2620127
Phone
3125449755
Address
177 N State Street No 500, Chicago, IL 60601

Signing Officer

Name
Steve Frenkel
Title
Executive Director
Phone
3125449755
Signed
2018-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Steve Frenkel
Formed
2016
Legal Domicile
Il
Voting Board Members
16
Independent Board Members
16
Employees
4
Volunteers
24

Preparer

Firm
Desmond & Ahern Ltd
Address
10827 S Western Avenue, Chicago, IL 60643
Preparer
Paul Betlinski
Phone
7737794720
Supplemental Narrative

Financial Statement Notes

Part X, Line 2:

FIN48 Note from audited financials statements The Organization was granted an exemption from federal income taxes by the Internal Revenue Service pursuant to the provisions of Internal Revenue Code (IRC) Section 501(c)(3). Contributions to the Organization qualify for the charitable contribution deduction pursuant to IRS Section 170(b)(1)(A)(vi) and has been classified as an organization that is not a private Foundation under Section 509(a)(1). The tax-exempt purpose of the Organization and the nature in which it operates is described above. Management believes the Organization continues to operate in compliance with its tax-exempt purpose. Thus, no provision for income tax has been provided for in the financial statements. The Organization has adopted the requirements for accounting for uncertain tax positions and management has determined that the Organization was not required to record a liability related to uncertain tax positions as of December 31, 2017. The Organization's annual information and income tax returns filed with the federal and state governments are subject to examination generally for three years after they are filed. All filings are current.

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IRS990/Desc0Current Research: convenes the capabilities of the Current Research Consortium, a global center of excellence in water research and technology development, to deliver fundamental science and applied research aligned with market-driven opportunities to address critical water issues. Current Demonstration: assesses the technical and economic merits of innovative water-related technologies to mitigate technology development and adoption risk and speed time-to-market. Current Connect: identifies early-adopter and beachhead market customers for successful commercialization and connects validated technologies with investors and customers through regional, national and international networks.
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IRS990/Form990PartVIISectionAGrp/PersonNm10Edward Seidel
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IRS990/Form990PartVIISectionAGrp/PersonNm12Matthew Tirrell
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IRS990/OtherExpensesGrp/Desc2Dues and subscriptions
IRS990/OtherExpensesGrp/Desc3Professional developmen
IRS990/OtherExpensesGrp/FundraisingAmt01204
IRS990/OtherExpensesGrp/FundraisingAmt1336
IRS990/OtherExpensesGrp/FundraisingAmt2201
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt025000
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt12711
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt2757
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt3452
IRS990/OtherExpensesGrp/ProgramServicesAmt020116
IRS990/OtherExpensesGrp/ProgramServicesAmt15615
IRS990/OtherExpensesGrp/ProgramServicesAmt23350
IRS990/OtherExpensesGrp/TotalAmt025000
IRS990/OtherExpensesGrp/TotalAmt124031
IRS990/OtherExpensesGrp/TotalAmt26708
IRS990/OtherExpensesGrp/TotalAmt34003
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/Desc0Other
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt01200
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt01200
IRS990/OtherRevenueTotalAmt01200
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt09873
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0160105
IRS990/OtherSalariesAndWagesGrp/TotalAmt0169978
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/FundraisingAmt01283
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt02890
IRS990/PayrollTaxesGrp/ProgramServicesAmt021444
IRS990/PayrollTaxesGrp/TotalAmt025617
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt0225000
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0350000
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0Steve Frenkel
IRS990/ProfessionalFundraisingInd00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0825000
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt00
IRS990/PYOtherExpensesAmt013653
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0747114
IRS990/PYSalariesCompEmpBnftPaidAmt064233
IRS990/PYTotalExpensesAmt077886
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0825000
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-131420
IRS990/RegularMonitoringEnfrcInd00
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt01200
IRS990ScheduleA/First5Years170Ind0X
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0460000
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0825000
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt01285000
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt01200
IRS990ScheduleA/OtherIncome170Grp/TotalAmt01200
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportTotal170Amt01260724
IRS990ScheduleA/SubstantialContributorsTotAmt024276
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0460000
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0825000
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01285000
IRS990ScheduleA/TotalSupportAmt01286200
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0592620
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0461200
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0FIN48 Note from audited financials statements The Organization was granted an exemption from federal income taxes by the Internal Revenue Service pursuant to the provisions of Internal Revenue Code (IRC) Section 501(c)(3). Contributions to the Organization qualify for the charitable contribution deduction pursuant to IRS Section 170(b)(1)(A)(vi) and has been classified as an organization that is not a private Foundation under Section 509(a)(1). The tax-exempt purpose of the Organization and the nature in which it operates is described above. Management believes the Organization continues to operate in compliance with its tax-exempt purpose. Thus, no provision for income tax has been provided for in the financial statements. The Organization has adopted the requirements for accounting for uncertain tax positions and management has determined that the Organization was not required to record a liability related to uncertain tax positions as of December 31, 2017. The Organization's annual information and income tax returns filed with the federal and state governments are subject to examination generally for three years after they are filed. All filings are current.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X, Line 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt0592620
IRS990ScheduleD/TotalRevenuePerForm990Amt0461200
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0461200
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0592620
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/CompensationSurveyInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0250000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0Steven Frenkel
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0Executive Director
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0250000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt082869
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd00
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd00
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0Expense reimbursement due to employee by Organization.
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanToOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt082869
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0Steve Frenkel
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0Executive Director
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd00
IRS990ScheduleL/TotalBalanceDueAmt082869
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Form 990 was reviewed and approved by the Board Treasurer and Executive Director and was provided to the entire Board prior to filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A compensation study was performed during the hiring of the Executive Director. The Board reviews the Executive Director's salary annually.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The Organizing documents and financial statements are available upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section C, line 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00

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