irs program accomplishments · form 990 part iii · fy2024
What they reported doing
- #1 primary $65KMonthly publication promoting memebers and current events
- #2 $93KCirculation of local barter credit in the community
named programs · 3 · from sources
What they call their work
Local Barter Credit System
Circulation of local currency among member businesses to strengthen regional economic resilience and community ties
Monthly Publication
Monthly guide promoting member businesses and current events within the Hudson Valley Current network
Tilda's Kitchen & Market
Community-inspired eatery and market in Kingston that sources ~90% of products locally, serves global cuisine, and supports community needs through its operations
activities · 6 groups
What they do
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Professional Education and Certification for Financial and Estate Planners 1 activity
- Deliver financial inclusion and capacity-building programsOffers training for bookkeepers and provides education and support to businesses adopting Currents into their payroll systems, promoting accurate accounting and broader adoption of the local currency system.
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Member Business Referral & Discount Programs 1 activity
- Offer membership and support for local economic exchangeOffers free membership to individuals and businesses to earn and spend Currents, along with one-on-one training, deal-brokering support, and interest-free lines of credit to facilitate local economic exchange among hundreds of participating businesses.
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Local Food Market Operation 1 activity
- Operate Tilda's Kitchen and MarketOperates Tilda's Kitchen and Market in Midtown Kingston, a physical location that serves community-inspired cuisine, sells locally produced goods from Current members, and offers catering services for events ranging from 5 to 1,000 guests.
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Literary and Cultural Publishing 1 activity
- Publish Midtown Lively community magazineProduces and publishes Midtown Lively, a monthly print publication that shares news about food, art, and economic exchange in Kingston, featuring member profiles, recipes, and community events, reaching approximately 5,000 readers annually.
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Food Distribution and Hunger Relief 1 activity
- Run meal programs and distribute foodProvides sponsored daily Pay-It-Forward meals, prepares and distributes free daily soup using donated ingredients from local farms, and hosts Open Table, a free monthly community meal on the last Tuesday of each month offering breakfast and lunch. Collectively distributes over 10,000 meals annually.
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Uncategorized 3 activities
- Administer guaranteed income stipend programLaunched a guaranteed income project distributing $15,000 over six months through monthly stipends of $250 to ten community members in Midtown Kingston to increase circulation of the Current and support small business onboarding.
- Operate a local complementary currency system (Currents)Operates a local alternative currency called the Current, recognized by the IRS, which circulates exclusively within the Hudson Valley among member businesses. Facilitates the exchange of over 1.6 million units of local currency since 2014 through a mutual credit system based on members' goods and services, with taxable transactions reported.
- Provide digital and physical transaction tools for local currencyProvides a mobile application for iOS and Android devices, web-based access, and paper currency to facilitate transactions within the Currents mutual credit system. Each business member receives a $300 interest-free line of trust to enable participation without fees.
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financials · form 990 · fy2024
revenue
Total revenue$584K
Contributions & grants$301K52%
Program service revenue$279K48%
Investment income$640%
Other revenue$4K
expenses
Total expenses$716K
Program expenses80%
Admin / overhead18%
Fundraising1%
Salaries & benefits$284K
Grants paid out$0
Largest expense lineCompensation
balance sheet
Total assets$76K
Cash$2K
Investments$0
Liabilities$265K
Net assets$-189K
Liquid reserves0.0 mo
5 years on record · 2020–2024 · YoY revenue -4.7%
leadership · form 990 part vii · fy2024
Who runs it
paid leadership · 1
| Name | Title | Hours/wk | Compensation |
|---|---|---|---|
| Christopher Fenichel-Hewitt | Executive Director | 40 | $105K |
board members · 4
- Bjorn Quenemoen — Board Member
- David McCarthy — Board Chair
- Kaustubh Wahal — Treasurer
- Shaniqua Bowden — Secretary
relationships · 25
Who they work with
- Arts Mid-Hudson Government — Administers funds from the New York State Legislature for music programming at Tilda's Kitchen & Market.
- Beyond the 4 Walls Partner — Collaborates with Beyond the 4 Walls to keep money local and strengthen supply chains.
- Center for Creative Education Partner — Collaborates with Center for Creative Education to keep money local and strengthen supply chains.
- Circle Creative Collective Partner — Member of the Current local currency network, participating in exchanges using the Current.
- Circle Creative Collective Partner — Nonprofit member business within the Hudson Valley Current network.
- Democracy Coffee Partner — Member business within the Hudson Valley Current network, accepting the Current's complementary currency.
- Department of the Treasury Government — Recognized by the Department of the Treasury as a legal barter or trade currency.
- E.F. Schumacher Society Partner — Organized the 2004 conference that inspired the founding of Hudson Valley Current and launched the Berkshares local currency.
- IRS Government — Federally recognized by the IRS as a barter currency; members receive W9 forms and report earnings as taxable income.
- Kingston Food Co-op Partner — Member business within the Hudson Valley Current network, participating in the local currency ecosystem.
- La Voz Partner — Collaborates with La Voz to keep money local and strengthen supply chains.
- Midtown Kingston Partner — Focus area for economic stimulation and small business onboarding through the Pollinator Stipend program.
- Midtown Lively Network — Monthly publication produced by Hudson Valley Current Inc to share community news and member content.
- My Kingston Kids Partner — Member of the Current local currency network, participating in exchanges using the Current.
- MyKingstonKids Partner — Collaborates with MyKingstonKids to keep money local and strengthen supply chains.
- New Ark Lighthouse Partner — Nonprofit retreat and education center engaged with the Hudson Valley Current network.
- O+ Partner — Nonprofit integrating art, music, and wellness as a member of the Hudson Valley Current network.
- Outdoor Promise Partner — Nonprofit focused on community, education, and environment, participating in the Hudson Valley Current network.
- Radio Kingston Partner — Collaborates with Radio Kingston to keep money local and strengthen supply chains.
- Samadhi – Mindfulness-Based Recovery Partner — Nonprofit health and wellness organization participating in the Hudson Valley Current network.
- Seed Song Farm & Center Partner — Nonprofit farm and market participating in the Hudson Valley Current network using the complementary currency.
- Sonic Elixirs Partner — Member of the Current local currency network, participating in exchanges using the Current.
- Sustainable Hudson Valley Partner — Nonprofit environmental organization and member of the Hudson Valley Current network.
- Tilda’s Kitchen & Market Partner — Nonprofit member business in the Hudson Valley Current network, engaged in the community currency system.
- Tilda’s Kitchen & Market Partner — Participating business where Currents can be used to purchase groceries.
strategies · 4
How they approach the work
Named approaches extracted from this org’s sources. Where others share an approach, follow it to see the full set of orgs running it.
- Integrated Community Hub Model for Regenerative Economymethodology: integrated_local_economic_developmentBy combining a local currency system with a physical community kitchen, market, and educational programming, the organization reinforces economic circulation and community engagement because shared spaces and services act as multipliers for participation, trust-building, and cultural celebration, thereby embedding regenerative economic practices into daily life.
- Local Currency as a Tool for Economic Resilience and Circulationmethodology: hyperlocal_currency_circulationBy creating and circulating a hyperlocal currency (the Current) restricted to member businesses in the Hudson Valley, the organization strengthens regional economic resilience and self-reliance because keeping wealth within the community increases local trade, reduces dependence on external financial systems, and fosters interdependence among residents and small businesses.
- Mutual Credit System for Equitable Economic Exchangemethodology: mutual_credit_currencyBy enabling individuals and small businesses to issue currency through a mutual credit system—where money is created via local exchange rather than centralized issuance and all account balances net to zero—the organization promotes equitable trade and interest-free credit, because this design prevents wealth concentration and builds trust-based reciprocity within the solidarity economy.
- Reciprocal Guaranteed Income to Stimulate Local Economic Activitymethodology: reciprocal_guaranteed_incomeBy providing a reciprocal stipend model where participants receive guaranteed income in exchange for engaging local businesses, facilitating workshops, or circulating funds, the organization stimulates inclusive economic activity because it lowers barriers to participation while reinforcing community contribution and currency velocity.