VERMONT STUDIO CENTER INC

EIN: 222478074 501(c)(3)

JOHNSON, VT

Total Revenue
$6,476,898
Total Expenses
$6,159,882
Total Assets
$18,150,526
Net Assets
$17,676,295
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1983
Legal Domicile
VT
Principal Officer
HOPE SULLIVAN
Phone
8026352727
Tax Period
2023-01-01 to 2023-12-31

VERMONT STUDIO CENTER INC, founded in 1983, is a community nonprofit that reported $6.5M in total revenue in fiscal year 2023. Revenue surged 43% from the prior year, signaling strong growth momentum. Expenses of $6.2M left a modest 5% surplus.

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.

Program Service Accomplishments

Program 1
Expenses: $4,763,139 Revenue: $3,915,756

FOR 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...

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FOR 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.

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Trantor Score

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $2,286,330
Program Service Revenue $3,915,756
Investment Income $246,927
Other Revenue $27,885
TOTAL REVENUE $6,476,898

Expense Breakdown

Grants Paid $2,458,756
Salaries & Benefits $1,348,453
Fundraising Expenses $334,941
Program Expenses $4,763,139
Other Expenses $2,352,673
TOTAL EXPENSES $6,159,882

Year-over-Year Comparison

2023 2022 Change
Revenue $6,476,898 $4,518,503 +0.4%
Expenses $6,159,882 $5,007,258 +0.2%
Net Income $317,016 $-488,755 -1.6%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
13
Independent Members
13
Employees
33
Volunteers
22

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
7
$89,998
Total Directors
15
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KATE REBERNAK INTERIM CHAIR 1.00
Officer Director
$0 $0 $0
SARAH LUTZ INTERIM VICE CHAIR 1.00
Officer Director
$0 $0 $0
LES FISHMAN TREASURER 1.00
Officer Director
$0 $0 $0
SUSAN NEWBOLD INTERIM SECRETARY 1.00
Officer Director
$0 $0 $0
WILLARD BOEPPLE TRUSTEE 1.00
Director
$0 $0 $0
DEBORAH CLEARMAN TRUSTEE 1.00
Director
$0 $0 $0
HOWARD EL-YASIN TRUSTEE 1.00
Director
$0 $0 $0
MELINDA HACKETT TRUSTEE 1.00
Director
$0 $0 $0
MUSA MAYER TRUSTEE 1.00
Director
$0 $0 $0
LAURA WATT TRUSTEE 1.00
Director
$0 $0 $0
JO WEISS TRUSTEE 1.00
Director
$0 $0 $0
BARBARA MARKS CHAIR (TERM 2023) 1.00
Officer Director
$0 $0 $0
MAJOR JACKSON TRUSTEE (TERM 2023) 1.00
Director
$0 $0 $0
RYAN WALSH TRUSTEE (TERM 2023) 1.00
Director
$0 $0 $0
TERESA ERNST WATERMAN TRUSTEE (TERM 2023) 1.00
Director
$0 $0 $0
HOPE SULLIVAN EXECUTIVE DIRECTOR 40.00
Officer
$89,998 $0 $89,998
JENNIFER BLAIR DTR. FINANCE & HR 40.00
Officer
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $6,476,898 $6,159,882 $18,150,526 $317,016
2022 $4,518,503 $5,007,258 $17,171,734 $-488,755
2021 $4,687,878 $2,272,302 $18,966,980 $2,415,576
2021 $4,687,878 $2,251,294 $18,966,980 $2,436,584
2020 $5,042,680 $3,389,606 $16,798,643 $1,653,074
2019 $6,139,067 $5,152,628 $15,461,385 $986,439
2018 $5,292,062 $5,040,228 $13,029,821 $251,834
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