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Nonprofiteer
← VERMONT STUDIO CENTER INC

Form 990 for tax year 2023

Filed by VERMONT STUDIO CENTER INC.

Totals

Total revenue
$6,476,898
Total expenses
$6,159,882
Contributions and grants received
$2,286,330
Grants paid
$2,458,756
Program service revenue
$3,915,756
Investment income
$246,927
Other revenue
$27,885
Total assets, end of year
$18,150,526
Total liabilities, end of year
$474,231
Net assets or fund balances, end of year
$17,676,295
Program services expenses (Part IX)
$4,763,139
Management and general expenses
$1,061,802
Fundraising expenses
$334,941
Program service expenses (Part III)
$4,763,139

Program services were 77.3% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $2,286,330

  • 1g · Noncash contributions included above

    $138,683

  • 2a · Program service revenue: PROGRAM REVENUE

    total $3,915,756 · related or exempt $3,915,756

  • 3 · Investment income

    total $331,962 · excluded $331,962

  • 7a · Gross sales of assets other than inventory

    securities $2,006,348

  • 7b · Less cost or other basis and sales expenses

    securities $1,904,274 · other assets $187,109

  • 7c · Gain or loss

    securities $102,074 · other assets -$187,109

  • 7d · Net gain or loss

    total -$85,035 · excluded -$85,035

  • 11a · Other revenue: MISC. INCOME

    total $27,885 · related or exempt $27,885

  • 11e · Other revenue, total

    $27,885

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $2,458,756 · program services $2,458,756

  • 5 · Compensation of officers, directors and key employees

    total $97,430 · management and general $97,430

  • 7 · Other salaries and wages

    total $1,020,165 · program services $684,609 · management and general $161,758 · fundraising $173,798

  • 8 · Pension plan contributions

    total $15,266 · program services $10,217 · management and general $3,832 · fundraising $1,217

  • 9 · Other employee benefits

    total $122,835 · program services $82,214 · management and general $30,741 · fundraising $9,880

  • 10 · Payroll taxes

    total $92,757 · program services $62,081 · management and general $23,283 · fundraising $7,393

  • 11b · Fees: legal

    total $41,794 · management and general $41,794

  • 11c · Fees: accounting

    total $153,276 · management and general $153,276

  • 11f · Fees: investment management

    total $63,803 · management and general $63,803

  • 11g · Fees: other

    total $132,601 · program services $1,757 · management and general $105,906 · fundraising $24,938

  • 12 · Advertising and promotion

    total $99,531 · program services $10,301 · management and general $27,266 · fundraising $61,964

  • 13 · Office expenses

    total $42,544 · program services $1,372 · management and general $40,473 · fundraising $699

  • 14 · Information technology

    total $22,586 · program services $17 · management and general $22,569

  • 16 · Occupancy

    total $899,826 · program services $850,724 · management and general $42,867 · fundraising $6,235

  • 17 · Travel

    total $160,185 · program services $132,978 · management and general $3,998 · fundraising $23,209

  • 22 · Depreciation, depletion and amortization

    total $269,737 · program services $229,276 · management and general $21,579 · fundraising $18,882

  • 23 · Insurance

    total $64,914 · management and general $64,914

  • 24a · Other expenses: FOOD AND FOOD SUPPLIES

    total $211,231 · program services $210,607 · management and general $624 · fundraising $0

  • 24b · Other expenses: FLOOD EXPENSES

    total $137,351 · program services $0 · management and general $136,585 · fundraising $766

  • 24c · Other expenses: SUPPLIES

    total $27,358 · program services $25,194 · management and general $6 · fundraising $2,158

  • 24d · Other expenses: RECRUITMENT

    total $16,042 · program services $1,419 · management and general $14,395 · fundraising $228

  • 24e · All other expenses

    total $9,894 · program services $1,617 · management and general $4,703 · fundraising $3,574

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,030,084 · end of year $4,520,982

  • 3 · Pledges and grants receivable

    beginning of year $61,470 · end of year $10,000

  • 4 · Accounts receivable

    beginning of year $3,594 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $22,201 · end of year $55,590

  • 10a · Land, buildings and equipment: cost or other basis

    $9,808,175

  • 10b · Land, buildings and equipment: accumulated depreciation

    $3,598,160

  • 10c · Land, buildings and equipment, net

    beginning of year $6,536,313 · end of year $6,210,015

  • 11 · Investments: publicly traded securities

    beginning of year $6,264,082 · end of year $7,235,956

  • 15 · Other assets

    beginning of year $253,990 · end of year $117,983

  • 17 · Accounts payable and accrued expenses

    beginning of year $58,492 · end of year $180,622

  • 19 · Deferred revenue

    beginning of year $291,056 · end of year $288,609

  • 25 · Other liabilities

    beginning of year $5,900 · end of year $5,000

  • 27 · Net assets without donor restrictions

    beginning of year $10,033,209 · end of year $9,904,054

  • 28 · Net assets with donor restrictions

    beginning of year $6,783,077 · end of year $7,772,241

Mission and programs · 2023

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.

Activities or mission (Part I)

SUPPORT ARTISTS AND WRITERS BY PROVIDING STUDIO RESIDENCIES.

  • SEE SCHEDULE OFOR 39 YEARS, VERMONT STUDIO CENTER'S (VSC) MISSION HAS BEEN TO FOSTER CREATIVITY THROUGH COMMUNITY, COLLABORATION, AND QUIET REFLECTION. OVER TIME, IT HAS BECOME ONE OF THE LARGEST INTERNATIONAL ARTISTS AND WRITERS' RESIDENCY PROGRAMS IN THE UNITED STATES. IN 2023, VSC WELCOMED 426 RESIDENTS, REPRESENTING JUST 9% OF THE TOTAL APPLICANT POOL. OUR 2023 RESIDENTS TRAVELED FROM 12 DIFFERENT COUNTRIES TO JOIN US FOR 16 SESSIONS THROUGHOUT THE YEAR.THIS YEAR PRESENTED VERMONT STUDIO CENTER WITH HISTORIC CHALLENGES, AS WELL AS REMARKABLE OPPORTUNITIES FOR GROWTH. A DEVASTATING FLOOD IN JULY UNITED STAFF, PAST AND PRESENT RESIDENTS, TRUSTEES, LONGTIME SUPPORTERS, NEIGHBORS, AND COMMUNITY PARTNERS. THE SUPPORT OF OUR COMMUNITY ENABLED VSC TO RECOVER AND EMERGE STRONGER AND MORE RESILIENT THAN EVER.ADDITIONALLY, VSC UNDERWENT LEADERSHIP TRANSITIONS WITHIN BOTH THE STAFF AND THE BOARD. WITH HOPE SULLIVAN AS EXECUTIVE DIRECTOR AND KATE REBERNAK AS BOARD CHAIR, THERE IS NOW A FRESH PERSPECTIVE, SHARED ENTHUSIASM, AND RENEWED ENERGY SURROUNDING OUR MISSION AND VISION FOR THE FUTURE.WITH THE SUPPORT OF NUMEROUS FOUNDATIONS, INDIVIDUALS, INSTITUTIONS, AND CORPORATIONS, VSC AWARDED FULL FELLOWSHIPS TO 92 RESIDENTS AND PARTIAL FELLOWSHIPS TO AN ADDITIONAL 385.THE JULY 2023 FLOOD DAMAGED NEARLY A THIRD OF VSC'S PRINT COLLECTION. MASTER PRINTER SARAH AMOS RETURNED TO WORK WITH STAFF, ARCHIVISTS, AND VOLUNTEERS TO RESTORE THESE VALUABLE PIECES. AFTER MONTHS OF NAVIGATING THE AFTERMATH, THE COMMUNITY CALLED UPON VSC AND SARAH TO SHOWCASE THE WORK, LEADING TO THE PLANNING OF AN EXHIBITION IN 2024 TITLED "COLLABORATION," A SURVEY OF PRINTS FROM THE VSC PRINT ARCHIVE.FOR FOUR DECADES, VSC'S RESIDENCY PROGRAM HAS PROVIDED RESIDENTS AND THE GENERAL PUBLIC WITH OPPORTUNITIES TO ENGAGE WITH GLOBAL CREATIVE COMMUNITIES. WE INVITE VISITING WRITERS AND ARTISTS FROM AROUND THE WORLD TO JOIN US DURING OUR RESIDENCIES TO MENTOR RESIDENTS, PRESENT READINGS, FACILITATE CRAFT TALKS, AND DELIVER PUBLIC LECTURES. IN 2023, THE VISITING ARTIST AND WRITER PROGRAM WELCOMED 16 ARTISTS AND 16 WRITERS TO CAMPUS, ALONG WITH AN ADDITIONAL 10 ARTISTS PARTICIPATING VIRTUALLY.THE POPULAR "STUDIOS AT VSC" PROGRAM CONTINUED IN 2023. LAUNCHED IN 2021, THIS PROGRAM OFFERS VERMONT ARTISTS AND WRITERS LONG-TERM STUDIO SPACE AT BELOW-MARKET RENT ON OUR CAMPUS ALONG THE BANKS OF THE GIHON RIVER IN JOHNSON, VT. BENEFITS INCLUDE 24/7 ACCESS TO PRIVATE, LIGHT-FILLED STUDIOS, AS WELL AS SHARED FACILITIES SUCH AS A SCULPTURE SHOP, KILN, LIBRARY, PRINTING PRESSES, AND COMMON SPACES. THE STUDIOS AT VSC SUPPORT THE CREATIVE ECONOMY OF VERMONT, UPLIFT LOCAL ARTISTS, AND ENHANCE OUR ROLE AS AN INCUBATOR FOR ARTISTS AND WRITERS.IN SUMMARY, IN 2023, THE VERMONT STUDIO CENTER CONTINUES TO BE A DRIVING FORCE IN THE CREATIVE SECTOR, BOTH INTERNATIONALLY AND WITHIN OUR HOME COMMUNITY.

    Expenses $4,763,139 · Grants $2,458,756 · Revenue $3,915,756

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • KATE REBERNAK

    INTERIM CHAIR

    Total calculated
    $0
    Hours/week
    1

  • SARAH LUTZ

    INTERIM VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • LES FISHMAN

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • SUSAN NEWBOLD

    INTERIM SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • WILLARD BOEPPLE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • DEBORAH CLEARMAN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • HOWARD EL-YASIN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • MELINDA HACKETT

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • MUSA MAYER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • LAURA WATT

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • JO WEISS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • BARBARA MARKS

    CHAIR (TERM 2023)

    Total calculated
    $0
    Hours/week
    1

  • MAJOR JACKSON

    TRUSTEE (TERM 2023)

    Total calculated
    $0
    Hours/week
    1

  • RYAN WALSH

    TRUSTEE (TERM 2023)

    Total calculated
    $0
    Hours/week
    1

  • TERESA ERNST WATERMAN

    TRUSTEE (TERM 2023)

    Total calculated
    $0
    Hours/week
    1

  • HOPE SULLIVAN

    EXECUTIVE DIRECTOR

    Total calculated
    $89,998
    From this org
    $89,998
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • JENNIFER BLAIR

    DTR. FINANCE & HR

    Total calculated
    $0
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
6 November 2024
IRS schema version
2023v5.1
Source object
202403139349301400

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