Civic Intelligence

Central Current Inc.

990 • Fiscal year 2023 • EIN 86-1656116

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

Organization ProfileCENTRALCURRENT.ORG
PO Box 1258Syracuse, NY 13201

(315) 701-6383

Siviq Scores

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

Liabilities / Assets

70th percentile

0.04x

Higher debt load relative to assets than 70% of similar nonprofits.

2023 filings • NTEE A • <$500k nonprofits • Source year 2023

Liabilities / Revenue

66th percentile

0.02x

Higher debt load relative to revenue than 66% of similar nonprofits.

2023 filings • NTEE A • <$500k nonprofits • Source year 2023

Net Margin

42nd percentile

0.8%

Higher net margin than 42% of similar nonprofits.

2023 filings • NTEE A • <$500k nonprofits • Source year 2023

Top Officer Pay

77th percentile

$0

Higher top officer pay than 77% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2023 filings • NTEE A • <$500k nonprofits • Source year 2023

Asset Growth

52nd percentile

1.4%

Faster asset growth than 52% of similar nonprofits.

2023 filings • NTEE A • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

59th percentile

20%

Faster revenue growth than 59% of similar nonprofits.

2023 filings • NTEE A • <$500k nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets70th percentile

Assets

Up

$141,240

Up $1,916 (+1.4%) from 2022

Net Assets

Up

$135,293

Up $3,296 (+2.5%) from 2022

Liabilities

Down

$5,947

Down $1,380 (-19%) from 2022

Revenue And Expenses
Liabilities / Revenue66th percentileNet Margin42nd percentile

Revenue

Up

$393,704

Up $64,939 (+20%) from 2022

Expenses

Up

$390,408

Up $139,767 (+56%) from 2022

Net Income

Down

$3,296

Down $74,828 (-96%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth52nd percentile

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

$150K$100K$50K$0Assets 2020: $5,951Liabilities 2020: $0Net Assets 2020: $5,9512020Assets 2021: $53,873Liabilities 2021: $0Net Assets 2021: $53,8732021Assets 2022: $139,324Liabilities 2022: $7,327Net Assets 2022: $131,9972022Assets 2023: $141,240Liabilities 2023: $5,947Net Assets 2023: $135,2932023Assets 2024: $91,302Liabilities 2024: $14,337Net Assets 2024: $76,9652024

Highlighted filing

2023

Assets$141,240
Liabilities$5,947
Net Assets$135,293
Open 2023 Filing

Operations Trend

Revenue Growth59th percentile

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

$600K$400K$200K$0-$200KRevenue 2020: $21,000Expenses 2020: $15,049Net Income 2020: $5,9512020Revenue 2021: $116,841Expenses 2021: $68,919Net Income 2021: $47,9222021Revenue 2022: $328,765Expenses 2022: $250,641Net Income 2022: $78,1242022Revenue 2023: $393,704Expenses 2023: $390,408Net Income 2023: $3,2962023Revenue 2024: $373,915Expenses 2024: $432,243Net Income 2024: -$58,3282024

Highlighted filing

2023

Revenue$393,704
Expenses$390,408
Net Income$3,296
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Aug 8, 2024
Return Version
2023v5.1
Gross Receipts
$393,704
Mission and Program Overview

Mission

To provide education for the benefit of our readership and viewership of the kind that can only be delivered through the application of sound journalistic principles to fact-based news, opinion and analysis about the issues, events and life in syracuse and central new york.

Central current, inc. Is a nonprofit,nonpartisan news organization dedicated to bringing independent online news to central new york by publishing articles, photographs, and audio through its website, newsletters and social media.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$138,780$135,139▼ $3,641
Prepaid Expenses and Deferred Charges$443$6,000▲ $5,557
Savings and Temporary Cash Investments$101$101→ $0
Total Assets$139,324$141,240▲ $1,916
Liabilities
Accounts Payable and Accrued Expenses$7,327$5,947▼ $1,380
Total Liabilities$7,327$5,947▼ $1,380
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$93,248$132,957▲ $39,709
Net Assets With Donor Restrictions$38,749$2,336▼ $36,413
Total Net Assets Fund Balance$131,997$135,293▲ $3,296
Total Liabilities and Net Assets / Fund Balance$139,324$141,240▲ $1,916
Compensation and Service Providers
Top Officer Pay77th percentile

Board Members and Trustees

NameTitle
Roosevelt Rick Wright JrChair
Stephanie PasqualeVice Chair
Anthony MalavendaBoard Member
Karla GreenBoard Member
Laura LavineBoard Member
Samuel RowserBoard Member
Sapna KollaliBoard Member
Patrick MannionSecretary
Laurence BousquetTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$393,704
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$393,704
Change in Net Assets
$3,296
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$228,677
Other Expenses$115,231
Professional Fundraising Fees$46,500
Total Fundraising Expense$46,500
Grants and Similar Amounts Paid$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$126,673$61,752-$188,425
Fees for Services Other$64,044--$64,044
Fees for Services Professional Fundraising--$46,500$46,500
Payroll Taxes$27,060$13,192-$40,252
Occupancy-$15,661-$15,661
Fees for Services Accounting-$13,760-$13,760
Other Expenses$7,050--$7,050
Office Expenses$1,003$5,708-$6,711
Insurance-$6,497-$6,497
Travel-$1,183-$1,183
Conferences and Meetings-$325-$325
Total Functional Expenses$225,830$118,078$46,500$390,408
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$46,500
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
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
No
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 is provided electronically to all board members and reviewed at a duly called meeting of the board with assistance of treasurer and chief of staff.”

Form 990, Part VI, Section B, Line 12C

“The board members are required to sign a conflict of interest form annually.”

Form 990, Part VI, Section C, Line 19

“The organization's governing documents and financials are made available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Central Current Inc
EIN
86-1656116
Phone
3157016383
Address
PO BOX 1258, SYRACUSE, NY 13201

Signing Officer

Name
Laurence Bousquet
Title
Treasurer
Phone
3157016383
Signed
2024-08-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Roosevelt Wright Jr
Formed
2020
Legal Domicile
Ny
Voting Board Members
9
Independent Board Members
9
Employees
6
Volunteers
0

Preparer

Firm
Grossman St Amour Cpas Pllc
Address
110 WEST FAYETTE STREET SUITE 900, SYRACUSE, NY 13202
Preparer
Christina R Ondrako CPA
Phone
3154241120
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Independent contractor: program service expenses 64,044. Management and general expenses 0. Fundraising expenses 0. Total expenses 64,044.”

Financial Statement Notes

PART X, LINE 2:

“The organization follows fasb asc sub-topic 740-19, income taxes, which requires that a tax position be recognized or derecognized on a "more likely than not" threshold. This applies to positions taken or expected to be taken in a tax return including maintaining tax-exempt status. Central current believes its financial statements do not include any uncertain tax positions that qualify for either recognition or disclosure in the financial statements as of and for the year ended december 31, 2023.”

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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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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION FOLLOWS FASB ASC SUB-TOPIC 740-19, INCOME TAXES, WHICH REQUIRES THAT A TAX POSITION BE RECOGNIZED OR DERECOGNIZED ON A "MORE LIKELY THAN NOT" THRESHOLD. THIS APPLIES TO POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN INCLUDING MAINTAINING TAX-EXEMPT STATUS. CENTRAL CURRENT BELIEVES ITS FINANCIAL STATEMENTS DO NOT INCLUDE ANY UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS AS OF AND FOR THE YEAR ENDED DECEMBER 31, 2023.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleG/AgrmtProfFundraisingActyInd01
IRS990ScheduleG/EmailSolicitationsInd0X
IRS990ScheduleG/FundraiserActivityInfoGrp/ActivityTxt0PROVIDE FUNDRAISING COUNSEL
IRS990ScheduleG/FundraiserActivityInfoGrp/FundraiserControlOfFundsInd00
IRS990ScheduleG/FundraiserActivityInfoGrp/GrossReceiptsAmt00
IRS990ScheduleG/FundraiserActivityInfoGrp/NetToOrganizationAmt046500
IRS990ScheduleG/FundraiserActivityInfoGrp/OrganizationBusinessName/BusinessNameLine1Txt0NEWS REVENUE HUBINC
IRS990ScheduleG/FundraiserActivityInfoGrp/RetainedByContractorAmt00
IRS990ScheduleG/FundraiserActivityInfoGrp/USAddress/AddressLine1Txt0302 WASHINGTON ST150-5977
IRS990ScheduleG/FundraiserActivityInfoGrp/USAddress/CityNm0SAN DIEGO
IRS990ScheduleG/FundraiserActivityInfoGrp/USAddress/StateAbbreviationCd0CA
IRS990ScheduleG/FundraiserActivityInfoGrp/USAddress/ZIPCd092103
IRS990ScheduleG/InPersonSolicitationsInd0X
IRS990ScheduleG/LicensedStatesCd0NY
IRS990ScheduleG/MailSolicitationsInd0X
IRS990ScheduleG/PhoneSolicitationsInd0X
IRS990ScheduleG/SolicitationOfNonGovtGrantsInd0X
IRS990ScheduleG/SpecialFundraisingEventsInd0X
IRS990ScheduleG/SupplementalInformationDetail/ExplanationTxt0PROVIDED ADVICE ONLY ON RANGE OF ACTIVITIES.
IRS990ScheduleG/SupplementalInformationDetail/ExplanationTxt1NEWS REVENUE HUB,INC. PROVIDED ADVICE ONLY ON RANGE OF ACTIVITIES.
IRS990ScheduleG/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE G, PART I, LINE 2B, COLUMN (V)
IRS990ScheduleG/SupplementalInformationDetail/FormAndLineReferenceDesc1PAGE 1, LINE 2B, COLUMN IV
IRS990ScheduleG/TotalNetToOrganizationAmt046500
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORM 990 IS PROVIDED ELECTRONICALLY TO ALL BOARD MEMBERS AND REVIEWED AT A DULY CALLED MEETING OF THE BOARD WITH ASSISTANCE OF TREASURER AND CHIEF OF STAFF.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD MEMBERS ARE REQUIRED TO SIGN A CONFLICT OF INTEREST FORM ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION'S GOVERNING DOCUMENTS AND FINANCIALS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3INDEPENDENT CONTRACTOR: PROGRAM SERVICE EXPENSES 64,044. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 64,044.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART IX, LINE 11G
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0139324
IRS990/TotalAssetsEOYAmt0141240
IRS990/TotalAssetsGrp/BOYAmt0139324
IRS990/TotalAssetsGrp/EOYAmt0141240
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0393704
IRS990/TotalEmployeeCnt06
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt046500
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0118078
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0225830
IRS990/TotalFunctionalExpensesGrp/TotalAmt0390408
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt07327
IRS990/TotalLiabilitiesEOYAmt05947
IRS990/TotalLiabilitiesGrp/BOYAmt07327
IRS990/TotalLiabilitiesGrp/EOYAmt05947
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0131997
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0135293
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0225830
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0393704
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0139324
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0141240
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt01183
IRS990/TravelGrp/TotalAmt01183
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 1258
IRS990/USAddress/CityNm0SYRACUSE
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd013201
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0CENTRALCURRENT.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02024-08-08 14:25:15Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0LAURENCE BOUSQUET
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum03157016383
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-08-08
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0CENTRAL CURRENT INC
ReturnHeader/Filer/BusinessNameControlTxt0CENT
ReturnHeader/Filer/EIN0861656116
ReturnHeader/Filer/PhoneNum03157016383
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 1258
ReturnHeader/Filer/USAddress/CityNm0SYRACUSE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd013201
ReturnHeader/IRSResponsiblePrtyInfoCurrInd01
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0460475780
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0GROSSMAN ST AMOUR CPAS PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0110 WEST FAYETTE STREET SUITE 900
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0SYRACUSE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd013202
ReturnHeader/PreparerPersonGrp/PhoneNum03154241120
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0CHRISTINA R ONDRAKO CPA
ReturnHeader/ReturnTs02024-08-22T10:01:18-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

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
$141,240
Liabilities
$5,947
Net assets
$135,293
Revenue
$393,704
Expenses
$390,408
Net income
$3,296
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.91$0.14$0.77$3.74$4.32$0.58
2023Detailed filing. Detailed filing data is available for this year.$1.41$0.06$1.35$3.94$3.90$0.03
2022Detailed filing. Detailed filing data is available for this year.$1.39$0.07$1.32$3.29$2.51$0.78
2021Detailed filing. Detailed filing data is available for this year.$0.54$0.00$0.54$1.17$0.69$0.48
2020Detailed filing. Detailed filing data is available for this year.$0.06$0.00$0.06$0.21$0.15$0.06