Current Innovation Nfp is located in Chicago, IL. The organization was established in 2016. According to its NTEE Classification (C32) the organization is classified as: Water Resources, Wetlands Conservation & Management, under the broad grouping of Environment and related organizations. As of 12/2021, Current Innovation Nfp employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Current Innovation Nfp is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Current Innovation Nfp generated $1.3m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 8.2% each year. All expenses for the organization totaled $946.9k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
CURRENT'S MISSION IS TO GROW AN INCLUSIVE BLUE ECONOMY, ACCELERATE INNOVATION, AND SOLVE PERSISTENT WATER CHALLENGES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CURRENT IS A CHICAGO-BASED WATER INNOVATION HUB LAUNCHED IN 2016 TO HELP REALIZE THE REGION'S ECONOMIC AND ENVIRONMENTAL POTENTIAL AS A WATER INNOVATION LEADER. AS A CROSS-SECTOR CONVENOR OF LOCAL AND GLOBAL WATER SECTOR STAKEHOLDERS, CURRENT BUILDS NETWORKS, ORGANIZES EVENTS, AND HELPS DEVELOP PILOT PROJECTS THAT ACHIEVE ENVIRONMENTAL AND ECONOMIC EQUITY. CURRENT SERVES AS A CONDUIT FOR BOTH TECHNOLOGY AND INNOVATION, MONITORING INDEPENDENTLY EVALUATING NEW IDEAS AND TECHNOLOGY IN WATER MANAGEMENT, AND WORKING WITH UTILITIES, RESEARCH INSTITUTIONS, BUSINESSES, AND INNOVATORS TO TEST NEW SOLUTIONS. CURRENT SHARES INFORMATION WITH COMMUNITY-BASED ORGANIZATIONS AND SERVES AS A TRUSTED PARTNER WORKING TOWARDS ECONOMIC INCLUSION AND ENVIRONMENTAL JUSTICE. CURRENT WORKS TO GROW AN INCLUSIVE BLUE ECONOMY BY GENERATING RESEARCH AND DATA TO INFORM STRATEGIC PRIORITIES, DRIVING COLLABORATIONS AMONG RESEARCHERS, ENTREPRENEURS, CORPORATIONS, INVESTORS, UTILITIES, AND COMMUNITY PARTNERS. WE WORK TO KEEP WATER IN FOCUS AS AN ECONOMIC DEVELOPMENT PRIORITY AND CREATE STRATEGIES TO SUPPORT EDUCATION, WORKFORCE DEVELOPMENT, ENTREPRENEURSHIP, AND INVESTMENT. WE HOST EVENTS AND CONVENINGS TO STRENGTHEN OUR NETWORKS.CURRENT ACCELERATES INNOVATION BY MAINTAINING A SOPHISTICATED UNDERSTANDING OF THE STATE OF THE ART IN WATER TECHNOLOGY, AND IDENTIFYING AND SUPPORTING THE DEVELOPMENT OF PROMISING TECHNOLOGIES THAT SOLVE PERSISTENT AND EMERGING WATER CHALLENGES. WE CONVENE THE CAPABILITIES OF OUR CURRENT RESEARCH CONSORTIUM TO BRIDGE ADVANCED FUNDAMENTAL SCIENCE AND PRACTICAL, OUTCOME-BASED APPLIED RESEARCH. WE ALSO PURSUE RESEARCH FUNDING OPPORTUNITIES AND CROSS-INSTITUTIONAL PARTNERSHIPS TO STRENGTHEN THE RESEARCH ECOSYSTEM, DRIVING MORE FINANCIAL RESOURCES AND EXPERTISE TO PRIORITY PROBLEMS. CURRENT HELPS SOLVE PRESSING WATER CHALLENGES BY IDENTIFYING AND INDEPENDENTLY ASSESSING NEW TECHNOLOGIES AND BUILDING PARTNERSHIPS TO HELP PROMISING INNOVATIONS GO TO SCALE. WE DO THIS BY TESTING TECHNOLOGIES AND RECOMMENDING THE BEST SOLUTIONS FOR OTHERS TO TRY, OR FOR US TO PILOT, TO HELP IMPROVE WATER QUALITY AND MANAGEMENT. CURRENT MAINTAINS A DATABASE OF PROMISING WATER TECHNOLOGIES THAT WE HAVE SOURCED AND "DE-RISKED" EVALUATED FOR THEIR POTENTIAL TO BE IMPLEMENTED AT-COST AND AT-SCALE. WE CONTINUE TO RECEIVE AND EVALUATE THESE NEW TECHNOLOGIES AND SERVE AS A NEUTRAL RECOMMENDATION ENGINE FOR OUR MAJOR WATER UTILITIES IN THE REGION. ACROSS ALL OF OUR WORK, CURRENT DEMONSTRATES A COMMITMENT TO ENVIRONMENTAL JUSTICE AND INCLUSION. WE SEEK TO ADDRESS WATER CHALLENGES THROUGH SOLUTIONS THAT ADVANCE AN EQUITABLE WATER INFRASTRUCTURE: THE TECHNOLOGIES WE IDENTIFY AND PILOT HELP TO ENSURE THAT ALL PEOPLE HAVE ACCESS TO SAFE AND CLEAN WATER, AND THAT WATER RESOURCES ARE RESILIENT TO CLIMATE CHANGE AND OTHER ENVIRONMENTAL STRESSORS. WE ALSO FOSTER THE GROWTH OF A ROBUST BLUE ECONOMY THAT PROVIDES TRAINING AND CAREER PATHWAYS FOR TRADITIONALLY UNDERREPRESENTED GROUPS, INCLUDING WOMEN AND INDIVIDUALS OF COLOR. FINALLY, OUR OUTREACH AND EDUCATION PROGRAMS SEEK TO ENGAGE YOUTH, WITH AN EMPHASIS ON UNDERSERVED STUDENTS, AND COMMUNITIES THAT HAVE LONG BEEN ABSENT FROM ENVIRONMENTAL CONVERSATIONS. IT IS THROUGH THIS LENS OF EQUITY AND INCLUSION THAT WE MAXIMIZE THE IMPACT OF OUR WORK IN INVENTING, TESTING, AND ADOPTING PROMISING NEW SOLUTIONS THAT WORK FOR EVERYONE.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Alaina Harkness Executive Director | Officer | 40 | $185,857 |
Venkat Atluri Chair | OfficerTrustee | 2 | $0 |
Thrupti Shivakumar Treasurer | OfficerTrustee | 1 | $0 |
Richard Assmus Secretary | OfficerTrustee | 1 | $0 |
Marysue Barrett Director | Trustee | 0.5 | $0 |
Joanna Groden Director | Trustee | 0.5 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $609,384 |
All other contributions, gifts, grants, and similar amounts not included above | $712,734 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $1,322,118 |
Total Program Service Revenue | $0 |
Investment income | $53 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $0 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $1,322,171 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $0 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $202,373 |
Compensation of current officers, directors, key employees. | $22,123 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $243,144 |
Pension plan accruals and contributions | $8,096 |
Other employee benefits | $14,483 |
Payroll taxes | $27,679 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $49,802 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $315,316 |
Advertising and promotion | $3,861 |
Office expenses | $13,973 |
Information technology | $11,456 |
Royalties | $0 |
Occupancy | $7,440 |
Travel | $10,536 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $21,471 |
Insurance | $9,883 |
All other expenses | $0 |
Total functional expenses | $946,884 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $490,751 |
Savings and temporary cash investments | $620,071 |
Pledges and grants receivable | $587,060 |
Accounts receivable, net | $0 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $0 |
Net Land, buildings, and equipment | $9,137 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $4,000 |
Total assets | $1,711,019 |
Accounts payable and accrued expenses | $132,074 |
Grants payable | $0 |
Deferred revenue | $2,500 |
Tax-exempt bond liabilities | $0 |
Escrow or custodial account liability | $0 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Secured mortgages and notes payable | $0 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $0 |
Total liabilities | $134,574 |
Net assets without donor restrictions | $1,341,519 |
Net assets with donor restrictions | $234,926 |
Capital stock or trust principal, or current funds | $0 |
Paid-in or capital surplus, or land, building, or equipment fund | $0 |
Retained earnings, endowment, accumulated income, or other funds | $0 |
Total liabilities and net assets/fund balances | $1,711,019 |
Over the last fiscal year, Current Innovation Nfp has awarded $15,000 in support to 3 organizations.
Grant Recipient | Amount |
---|---|
Chicago, IL PURPOSE: Enhance water resources | $5,000 |
Chicago, IL PURPOSE: Enhance water resources | $5,000 |
Chicago, IL PURPOSE: Enhance water resources | $5,000 |
Over the last fiscal year, we have identified 3 grants that Current Innovation Nfp has recieved totaling $114,460.
Awarding Organization | Amount |
---|---|
Walder Family Foundation Wilmington, DE PURPOSE: BLUE EDU: A BLUE ECONOMY CURRICULUM FOR CHICAGO'S PUBLIC HIGH SCHOOL STUDENTS | $84,460 |
Matthew Zell Family Foundation Chicago, IL PURPOSE: GENERAL SUPPORT | $25,000 |
Once Upon A Time Foundation Fort Worth, TX PURPOSE: GENERAL SUPPORT | $5,000 |
Organization Name | Assets | Revenue |
---|---|---|
Association Of Illinois Soil & Water Conservation Districts Springfield, IL | $387,461 | $3,234,520 |
Bond Madison Water Company Pocahontas, IL | $13,786,763 | $2,866,600 |
Ozarks Environmental Services Kimberling City, MO | $1,364,072 | $2,517,937 |
Living Lands & Waters East Moline, IL | $3,683,421 | $2,325,294 |
The Wetlands Initiative Chicago, IL | $10,049,194 | $2,434,760 |
Friends Of The Lost River Inc Bowling Green, KY | $7,331,872 | $2,984,524 |
Lakeshore Farm Management Coop Valders, WI | $1,770,762 | $1,460,336 |
Alliance For Water Efficiency Nfp Chicago, IL | $510,612 | $1,181,528 |
Watershed Committee Of Ozarks Inc Springfield, MO | $3,357,505 | $2,342,450 |
Wild Rivers Conservancy Of The St Croix & Namekagon Osceola, WI | $495,125 | $1,215,590 |
Current Innovation Nfp Chicago, IL | $1,711,019 | $1,322,171 |
Clean Lakes Alliance Inc Madison, WI | $705,548 | $888,055 |