Vermont Studio Center Inc

What it reported doing in 2024

See schedule overmont studio center (vsc) provides studio residencies to artists and writers within an inclusive international community, honoring creative work as the communication of spirit through form. In 2024, vsc supported 453 residents selected from over 4,600 applicants, representing 19 countries across 16 residency sessions. Residents included 63% visual artists and 37% writers, with 168 awarded full fellowships and 285 partial fellowships, ensuring broad access to its programs.vsc's visiting artists and writers program hosted 16 visiting artists and 16 visiting writers who delivered hundreds of studio visits, manuscript consultations, lectures, readings, and craft talks. Vermont week welcomed 31 Vermont-based artists and writers for fully funded residencies, reinforcing vsc's commitment to its local community.significant capital and recovery milestones included raising corner house onto a new foundation, painting church studios building, and establishment of the junebug pollinator garden & trail. In addition, vsc continued to recover from the 2023 flood with projects including demolished kahn barn as well as repaired and renovated red mill egress. These projects all strengthened the campus as a resilient creative environment.vsc celebrated its 40th anniversary with exhibitions including collaboration: prints from the Vermont studio center archive, featuring 40 restored works. Partnerships with the american literary translators association, poets & writers, windgate charitable foundation, and university of Michigan helen zell writers' program expanded fellowship opportunities and international engagement.through expanded programs, enhanced facilities, and strong local and global partnerships, vsc closed 2024 with increased capacity to nurture creativity, support artists and writers, and deepen its impact in Vermont and beyond. Its economic contribution included over $2.5 million in local construction projects and substantial support to the regional economy through resident and staff spending.at-a-glance 2024 key metrics: residents: 453 from 19 countries sessions: 16 full fellowships: 168 | partial fellowships: 285 visiting artists & writers: 32 Vermont week participants: 31 public programs & studio visits: 120+ $20 minimum wage 28 employees 500+ residents and guests buying locally $100,000+ in property taxes paid $2.5m+ flowing to local economy through construction projects

Financial Efficiency

• Mission deployment rate: 45%; rating input score 45
• Program expense ratio: 78.2%; rating input score 78
• Fundraising efficiency: $14.82 raised per $1 spent on fundraising; rating input score 49; 49th percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
• Pay-setting controls: 0 of 6 controls in place; rating input score 0
  • Compensation committee: Missing
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • Written employment contract: Missing
  • Compensation survey or study: Missing
  • Board or committee approval: Missing
• Foreign activity oversight: Limited
• Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
• Governance controls: 8 of 9 controls in place; rating input score 89
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Pass
  • Form 990 shared with the board: Fail
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 46.7%; rating input score 93; 93rd percentile among comparable filings
• Total-asset coverage ratio: 3.54; rating input score 79; 79th percentile among comparable filings
• Liabilities to assets ratio: 0.02; rating input score 89; 89th percentile among comparable filings
• Officer compensation ratio: 4.5%; rating input score 55; 55th percentile among comparable filings

Growth

• Program expense growth: 2.7% per year; rating input score 100; 24th percentile among comparable filings
• Revenue growth: 4.9% per year; rating input score 100; 43rd percentile among comparable filings
• Asset growth: 7.9% per year; rating input score 100; 54th percentile among comparable filings