Nonprofit · EIN 81-2620127
CURRENT INNOVATION NFP
Tax-exempt · CHICAGO, IL 60606
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $5,868,289 | $4,318,993 | $1,549,296 | $4,443,838 | $1,034,229 | $3,409,609 |
| December 31, 2023 | 990 | $1,971,091 | $1,596,425 | $374,666 | $2,015,198 | $154,885 | $1,860,313 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $5,451,633
- of which government grants
- $3,902,997
- Program service revenue
- $391,400
- Investment income
- $25,256
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $1,905,628
- Compensation of officers, directors and key employees
- $290,286
- Other salaries and wages
- $842,782
- Salaries, compensation and benefits (total)
- $1,294,477
- Professional fundraising fees
- $0
- Accounting fees
- $60,674
- Occupancy
- $100,325
- Travel
- $67,966
- Depreciation
- $28,579
- Program services (functional)
- $3,673,397
- Management and general (functional)
- $562,262
- Fundraising (functional)
- $83,334
Balance sheet and other
- Total assets, start of year
- $2,015,198
- Total assets, end of year
- $4,443,838
- Total liabilities, end of year
- $1,034,229
- Net assets, end of year
- $3,409,609
- Land, buildings and equipment
- $60,540
- Net assets without donor restrictions
- $2,535,307
- Net assets with donor restrictions
- $874,302
- Gross receipts
- $5,868,289
- Employees
- 0
- Volunteers
- 176
- Year formed
- 2016
- State of legal domicile
- IL
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Alaina Harkness | CEO Officer | 40 | $275,489 | $14,797 |
| Brian Spangle | Operations Director Highest-paid employee | 40 | $121,737 | $15,917 |
| Melissa Pierce | Technical Program Director Highest-paid employee | 1 | $115,838 | $17,066 |
| Venkat Atluri | Chair Trustee or director, Officer | 2 | $0 | $0 |
| Thrupti Shivakumar | Treasurer Trustee or director, Officer | 1 | $0 | $0 |
| Richard Assmus | Secretary Trustee or director, Officer | 1 | $0 | $0 |
| Andrew Martin | Director Trustee or director | 0.5 | $0 | $0 |
| Andrew Richardson | Director Trustee or director | 1 | $0 | $0 |
| Brian Perkovich | Director Trustee or director | 1 | $0 | $0 |
| Eric Perreault | Director Trustee or director | 0.5 | $0 | $0 |
| Jay Walsh | Director Trustee or director | 0.5 | $0 | $0 |
| Joanna Groden | Director Trustee or director | 0.5 | $0 | $0 |
| MarySue Barrett | Director Trustee or director | 0.5 | $0 | $0 |
| Matthew Tirrell | Director Trustee or director | 0.5 | $0 | $0 |
| Michael Fassnacht | Director Trustee or director | 1 | $0 | $0 |
5 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Nadya Mason | Director Trustee or director | 0.5 | $0 |
| Paul K Kearns | Director Trustee or director | 0.5 | $0 |
| Randy Conner | Director Trustee or director | 0.5 | $0 |
| Steven Kloos | Director Trustee or director | 2 | $0 |
| Susan Martinis | Director Trustee or director | 0.5 | $0 |
990 for the year ended December 31, 2023: 21 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Alaina Harkness | Executive Director Officer | 40 | $243,994 | $4,656 |
| Venkat Atluri | Chair Trustee or director, Officer | 2 | $0 | $0 |
| Thrupti Shivakumar | Treasurer Trustee or director, Officer | 1 | $0 | $0 |
| Richard Assmus | Secretary Trustee or director, Officer | 1 | $0 | $0 |
| MarySue Barrett | Director Trustee or director | 0.5 | $0 | $0 |
| Joanna Groden | Director Trustee or director | 0.5 | $0 | $0 |
| Andrea Holthouse Cheng | Director Trustee or director | 1 | $0 | $0 |
| Paul K Kearns | Director Trustee or director | 0.5 | $0 | $0 |
| Karen Kim | Director Trustee or director | 0.5 | $0 | $0 |
| Steven Kloos | Director Trustee or director | 2 | $0 | $0 |
| Susan Martinis | Director Trustee or director | 0.5 | $0 | $0 |
| Milan Mkrsich | Director Trustee or director | 0.5 | $0 | $0 |
| Brian Perkovich | Director Trustee or director | 1 | $0 | $0 |
| Jay Walsh | Director Trustee or director | 0.5 | $0 | $0 |
| Andrew Richardson | Director Trustee or director | 1 | $0 | $0 |
| Matthew Tirrell | Director Trustee or director | 0.5 | $0 | $0 |
| Michael Fassnacht | Director Trustee or director | 1 | $0 | $0 |
| Randy Corner | Director Trustee or director | 0.5 | $0 | $0 |
| Andrew Martin | Director Trustee or director | 0.5 | $0 | $0 |
| Nadya Mason | Director Trustee or director | 0.5 | $0 | $0 |
| Eric Perreault | Director Trustee or director | 0.5 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 200 W MADISON ST THIRD FLOOR, CHICAGO, IL 60606-3414
- In care of
- % THRUPTI SHIVAKUMAR
- Principal officer (990 for 2024)
- Alaina Harkness, 200 W Madison St Third Floor, Chicago, IL 60606
- Signed the 990
- Alaina Harkness, CEO
- Phone
- (312) 680-0282
- Website
- currentwater.org
- Return prepared by
- Desmond & Ahern Ltd
Mission
Current's mission is to grow an inclusive blue economy, accelerate innovation, and solve persistent water challenges.
Program accomplishments
- 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.Expenses $3,673,397 · grants $1,905,628 · revenue $391,400
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 81-2620127
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2016
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Environment (C32)
- Assets (IRS master file)
- $4,443,838
- Income (IRS master file)
- $5,868,289
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $5,868,289 | $4,318,993 | $4,443,838 | XML |
| 990 | December 2023 | $1,971,091 | $1,596,425 | $2,015,198 | XML |
| 990 | December 2022 | $1,277,102 | $1,367,900 | $1,821,284 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 81-2620127).
Questions about CURRENT INNOVATION NFP
- What is the EIN of CURRENT INNOVATION NFP?
- The employer identification number (EIN) of CURRENT INNOVATION NFP is 81-2620127.
- Is CURRENT INNOVATION NFP tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2016.
- Are donations to CURRENT INNOVATION NFP tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does CURRENT INNOVATION NFP file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of CURRENT INNOVATION NFP due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did CURRENT INNOVATION NFP last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of CURRENT INNOVATION NFP?
- The 990 for the year ended December 31, 2024 names Alaina Harkness.
- Who are the officers and directors of CURRENT INNOVATION NFP?
- The 990 for the year ended December 31, 2024 lists 20 people; 3 received compensation from the organization, the highest $275,489 (Alaina Harkness, CEO).
- How much revenue does CURRENT INNOVATION NFP have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $5,868,289, expenses of $4,318,993 and total assets of $4,443,838 at year end.
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