2025-10-01T15:21:50-05:00 2024-12-31 363321958 Desmond & Ahern Ltd 10827 S Western Avenue Chicago IL 60643 990 2024-01-01 812620127 Current Innovation NFP CURR 3126800282 200 W Madison St Third Floor Chicago IL 60606 Alaina Harkness CEO 3126800282 2025-10-01 1 1 Mel Padillo P03172019 7737794720 2025-10-01 2024 2025-03-06 01:10:19Z Alaina Harkness 200 W Madison St Third Floor Chicago IL 60606 5868289 0 X currentwater.org X 2016 IL Current's mission is to grow a circular blue economy, accelerate innovation, and solve persistent water challenges. 17 17 0 176 0 0 1939859 5451633 19200 391400 11887 25256 145 0 1971091 5868289 0 1905628 0 0 847589 1294477 0 0 83334 748836 1118888 1596425 4318993 374666 1549296 2015198 4443838 154885 1034229 1860313 3409609 X Current's mission is to grow an inclusive blue economy, accelerate innovation, and solve persistent water challenges. 0 0 3673397 1905628 391400 Current is a Chicago-based water innovation hub that launched in 2016 to help realize the region's potential as the world's water innovation leader. As a cross-sector convenor of local and global water sector stakeholders, Current builds networks, organizes events, helps develop pilot projects, and serves as a conduit for both technology and innovation by monitoring and independently evaluating new ideas and technology in water management, and working with utilities, research institutions, businesses, and innovators to test new solutions. Current works to grow the 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 addressing 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. We also foster the growth of a robust blue economy that provides training and career pathways for all. Finally, our outreach and education programs seek to engage youth communities that have long been absent from important water conversations. It is through these efforts hat we maximize the impact of our work in inventing, testing, and adopting promising new solutions that work for everyone. 3673397 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 1 31 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 17 17 0 0 1 0 0 0 0 1 1 0 0 0 1 1 1 1 0 1 1 0 IL X Paula Galbraith 3128329068 200 W Madison St Third Floor Chicago IL 60606 Venkat Atluri Chair 2.00 X X 0 0 0 Thrupti Shivakumar Treasurer 1.00 X X 0 0 0 Richard Assmus Secretary 1.00 X X 0 0 0 Andrew Martin Director 0.50 X 0 0 0 Andrew Richardson Director 1.00 X 0 0 0 Brian Perkovich Director 1.00 X 0 0 0 Eric Perreault Director 0.50 X 0 0 0 Jay Walsh Director 0.50 X 0 0 0 Joanna Groden Director 0.50 X 0 0 0 MarySue Barrett Director 0.50 X 0 0 0 Matthew Tirrell Director 0.50 X 0 0 0 Michael Fassnacht Director 1.00 X 0 0 0 Nadya Mason Director 0.50 X 0 0 0 Paul K Kearns Director 0.50 X 0 0 0 Randy Conner Director 0.50 X 0 0 0 Steven Kloos Director 2.00 X 0 0 0 Susan Martinis Director 0.50 X 0 0 0 Alaina Harkness CEO 40.00 X 275489 0 14797 Brian Spangle Operations Director 40.00 X 121737 0 15917 Melissa Pierce Technical Program Director 1.00 X 115838 0 17066 513064 0 47780 3 0 1 0 M Harris & Co 2109 Grace St Ste 200 Chicago IL 60618 Communications, marketing, web developme 166240 Mayer Brown LLP 71 S Wacker Dr Chicago IL 60606 Legal Services 101668 2 3902997 1548636 5451633 Consulting 900099 391400 391400 391400 25256 25256 5868289 391400 0 25256 X 1905628 1905628 290286 232321 44204 13761 842782 675907 127701 39174 30344 23934 4779 1631 47610 37710 7427 2473 83455 66121 13010 4324 60674 43208 15776 1690 618627 450494 147852 20281 33619 33619 28578 17795 10783 16096 12409 3687 100325 30000 70325 67966 62171 5795 95015 91366 3649 28579 19440 9139 19848 1113 18735 Dues & Subscriptions 38573 38573 Equipment 6923 3780 3143 Bank & Credit Card Fees 4065 4065 4318993 3673397 562262 83334 776081 2982132 482496 606903 1222604 15816 16679 179617 119077 111493 60540 22409 161883 2015198 4443838 134080 721347 20805 312882 154885 1034229 X 1381846 2535307 478467 874302 1860313 3409609 2015198 4443838 1549296 0 X X 0 1 X 1 1 1 X 809904 1322118 1248803 1939859 5451633 10772317 809904 1322118 1248803 1939859 5451633 10772317 33715 10738602 5 53 539 11887 25256 37740 3003 1183 4186 10814243 437177 0.99300 0.96100 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 179617 119077 60540 60540 Operating lease liability 41743 Refundable Advances 271139 312882 X 6006364 138075 138075 5868289 0 5868289 4457068 138075 138075 4318993 0 4318993 Part X, Line 2: FIN 48 Note from Audited Financial 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 operates 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, 2024. 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. 0 Cleveland Water Alliance 1800 E 63rd St Cleveland OH 44103 150000 0 Commercialization and Translation-to-Practice Project Activities Hire 360 2540 S State St Chicago IL 60616 187025 0 Workforce Development Project Activities Marquette University PO Box 1881 Milwaukee WI 532011881 377538 0 Research & Development Project Activities National Fund for Workforce Solutions 1250 Connecticut Ave NW Ste 200 Washington DC 20036 159011 0 Workforce Development Project Activities Northwestern University 2205 Tech Dr Evanston IL 60201 250365 0 Research & Development Project Activities Ohio State University 1960 Kenny Rd Columbus OH 43210 119338 0 Research & Development Project Activities University of Cincinnati 2600 Clifton Dr Cincinnati OH 45220 136141 0 Research & Development Project Activities University of Minnesota 2221 University Ave SE Ste 100 Minneapolis MN 55414 317540 0 Research & Development Project Activities X X 0 0 0 0 0 0 0 0 0 Alaina Harkness CEO 275489 0 0 0 0 0 13377 0 1420 0 290286 0 0 0 Paul Kearns Director of Organization 1 Is the top employee (Laboratory Director) at Argonne National Laboratory. His continued employment at Argonne may be directly impacted by overall funding secured by third party sources, including Current and the success/failure of Argonne. However, Argonne is under a Prime Contract with the U.S. Department of Energy, and the federal government uses pay bands to determine compensation for employees. 0 Jay Walsh Director of Organization 1 Serves on the Board of Directors at Argonne National Laboratory 0 Alaina Harkness CEO of Organization 1000 received a $1,000 honorarium from Case Western Reserve University for serving as a reviewer for a Type II NSF Regional Innovation Engine proposal. The project Ms. Harkness reviewed was independent and not in conflict with Current's operation, programs, and activities. 0 Form 990, Part VI, Section A, line 4 In March 2024, Current's Board of Directors approved the creation of a Compensation Committee. The Compensation Committee's charter is to advise on the organization's strategic compensation plan and participate in the annual salary review process. In June, 2024, Current's Board of Directors approved a change to the organization's bylaws to establish and assign an ex officio seat on the Board of Directors to the organization's CEO. In 2024, Current continually enhanced its Organizational Fiscal Policies & Procedures to incorporate additional controls with regard to the management of funding awards. Form 990, Part VI, Section B, line 11b The Form 990 was reviewed and approved by the Board Treasurer, Executive Director/CEO, and Finance Committee prior to filing. Form 990, Part VI, Section B, line 12c Current Innovation NFP regularly and consistently monitors and enforces compliance with its written conflict of interest policy. Each year, all board members are required to complete and sign a conflict of interest disclosure form. The completed forms are reviewed by the CEO and Operations Director to identify any potential conflicts. When a potential conflict is identified, the affected individual is recused from deliberations and decision-making in accordance with the policy. As the organization evaluates new engagements, the Operations Director reviews all engagements against the current disclosure forms on file. Form 990, Part VI, Section B, line 15 A compensation study was performed during the hiring of the CEO. The Board and Compensation Committee reviews the CEO's salary annually. The CEO and leadership team (Directors) salaries and bonus pool recommendations for the full team are reviewed by the Compensation Committee of the Board of Directors. Form 990, Part VI, Section C, line 19 The Organizing documents and financial statements are available upon request. Form 990, Part IX, line 11g Other professional and consulting: Program service expenses 424,226. Management and general expenses 83,563. Fundraising expenses 20,281. Total expenses 528,070. Payroll service: Program service expenses 0. Management and general expenses 35,669. Fundraising expenses 0. Total expenses 35,669. Internships: Program service expenses 26,268. Management and general expenses 0. Fundraising expenses 0. Total expenses 26,268. Professional Development: Program service expenses 0. Management and general expenses 28,620. Fundraising expenses 0. Total expenses 28,620. Form 990, Part XII, line 2c: The process has not changed from the prior year.