Generator Inc

Nonprofit profile at a glance

EIN
463848431
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
Burlington, VT, USA
Phone
8025400761
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Community, Neighborhood Development

Official website

Reported finances

Revenue
$946,059
Expenses
$1,106,019
Assets
$1,071,085
Liabilities
$114,482

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

19 people listed

Executive titles in this filing

  • DAVE GURTMAN (PRESIDENT)

Highest reported compensation

  • MEGAN HAMMOND (EXECUTIVE DI): $95,267 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Generator is a combination of artist studio, classroom, and business incubator at the intersection of art, science, and technology. We provide tools, expertise, education and opportunity to enable all members of our community to create, collaborate, and to make their ideas reality. Generator provides youth stem/steam and work-based learning programs for youth around Vermont; hands-on, experiential education for adults of all ages; and membership for shared workshops including wood, metal, jewelry, rapid prototyping, sewing, electronics, and a computer lab with design software.

What it reported doing in 2024

Generator is an artist studio, classroom, and business incubator at the intersection of art, science, and technology. We provide the tools, expertise, education, and opportunity to enable every member of our community to create, collaborate, and make their ideas reality. In partnership with schools and community-based organizations, generator provides hands-on steam education (science, technology, engineering, arts, and math) to increase exposure to steam careers and strengthen Vermont's workforce development. We are currently building out makerspaces in middle and high schools throughout Vermont and providing professional development for teachers in makertech ed. As an incubator and an accelerator, we offer two significant programs: artist-in-residence and jumpstart- a business bootcamp for product-based entrepreneurs. As a community space, we provide technologically advanced equipment paired with skill based education for people of all ages. We host free events, artist talks, and a speaking series that deepens dialogue and encourages, motivates, and inspires our community to think outside the box, launch businesses, share their ideas, engage with emerging technology, create, problem-solve & live better together.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 71
  • Transparency & Controls: 92
  • Accountability: 84
  • Sustainability: 27
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 83.2%; rating input score 83
  • Program expense ratio: 71%; rating input score 71
  • Fundraising efficiency: $3.19 raised per $1 spent on fundraising; rating input score 10; 10th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -16.9%; rating input score 11; 11th percentile among comparable filings
  • Total-asset coverage ratio: 0.97; rating input score 42; 42nd percentile among comparable filings
  • Liabilities to assets ratio: 0.11; rating input score 41; 41st percentile among comparable filings
  • Officer compensation ratio: 8.6%; rating input score 41; 41st percentile among comparable filings

Growth

  • Program expense growth: 11.3% per year; rating input score 100; 67th percentile among comparable filings
  • Revenue growth: 8.5% per year; rating input score 100; 61st percentile among comparable filings
  • Asset growth: 15.1% per year; rating input score 100; 73rd percentile among comparable filings

Details

  • Where the money goes: 83.2% of revenue deployed · 71% of spending went to programs
  • Governance: 18 of 18 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $785K in reported program spending
  • Leadership: top reported pay $95K · 19 people listed
  • Consistency: 27 of 27 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 11 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Fundraising efficiency scored 10/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Sustainability: Operating margin scored 11/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 42/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 41/100.
  • Moderate — Sustainability: Officer compensation ratio scored 41/100.