Solo Foundation EIN 11-2547289 Form 990 (PDF) Claim this org

Solo Foundation FY2020 filing

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Promotes public interest in visual and performing arts through encouragement and engagement. For fiscal year 2020 it reported $245K in revenue, $229K in expenses, and $121K in net assets.Pt I

Type
Public charity (501(c)(3)) · Nonprofit
Location
New York, NY
Filings
4 on file (2020–2020)
Revenue
$245KFY2020
Expenses
$229K
Net assets
$121K
People
3
Filings
4
Updates
0
More identity details & actions ⌄
EIN  11-2547289 Public charity (501(c)(3)) New York, NY
Form 990 (PDF)
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2023) →
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Size
$100K–1M
What they do
Promotes public interest in visual and performing arts through encouragement and engagement.
Leadership
Howard F Seligman · President
Money in and out
$245K revenue, $229K expenses
Bottom line
99% program efficiency
Where the money goes · FY2020
Total revenue
$245K
Pt VIII · Ln 12
Total expenses
$229K
Pt IX · Ln 25
Net assets
$121K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $15K
Where spending went · Part IX cols B–D
Program services $0.99 Management & general $0.01
Program efficiency
99%
of spending reaches programs
Operating runway
2.9mo
months of highly liquid reserves at operating expense rate
Surplus margin
+6%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2020 · Form 990
Revenue
$245K
FY2020
Total revenue
$245K
Pt VIII · Ln 12
Total expenses
$229K
Pt IX · Ln 25
Net assets
$121K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$15K
Total assetsPt X · Ln 16$152K
Program-expense ratioPt IX · col B99%
Voting members of governing bodyPt I · Ln 33
Independent voting membersPt I · Ln 43

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CSolo Foundation
EINHdr · item D11-2547289
Principal addressHdr · item CNew York, NY
WebsiteHdr · item Jnone reported
Year of formationHdr · item Lpending
State of legal domicileHdr · item MNY
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFNonprofit
Ruling yearIRS BMFJan 1981

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a3
Independent voting membersPt VI · Ln 1b3
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Solo Foundation executive salaries →

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Mission & Programs · Part III

Where the work happens

3 program services account for $212K of program spending, described in the organization's own filed words · FY2020.
01

We administer funds directly to programs that we help to manage. We helped to found the OUR STEPS DANCE FOUNDATION and paid them out all of the funds that we had received directly for their activites

$125Kprogram expense
02

Responding to the Covid Crisis, We Founded and fiscally sponsored NYC NIGHTLIFE UNITED paying out grants to individuals and venue owners of Music Venues in Brooklyn, NY that suffered directly from the Quarantine.

$65Kprogram expense
03

We helped to found and we fiscally sponored, FIRST TECH FUND, raising contributions to provide internet access and computer equipment to underpriveleged high school students in New York City. The organization received its own tax exemption during the year and is now independent.

$22Kprogram expense

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Statement of Revenue

Part VIII
Contributions & grants$214K · 88%
Program service revenue$30K · 12%
Contributions & grants88%$214K
Program service revenue12%$30K
Total revenueLn 12$245K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.99 Management & general $0.01
Program services99%$228K
Management & general1%$1K
Total functional expensesLn 25$229K

Balance Sheet

Part X · end of year
CashLn 1$56K
Total assetsLn 16$152K
Total liabilitiesLn 26$31K
Total net assetsLn 32$121K
Months of cash on handcomputed2.9

Financial Metrics

Form 990 · FY2020 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $56K · Operating expenses/yr $229K
2.9 months
Where the money goes
Program services
Program services $228K · Total expenses $229K
99%
Management & General
Management & general $1K · Total expenses $229K
0.6%
Fundraising
Fundraising $0 · Total expenses $229K
0%
Cost to raise $1
Fundraising expense $0 · Solicited contributions $214K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $214K · Total revenue $245K
88%
Government reliance
Government grants — · Total revenue $245K
Earned-income share
Program service revenue $30K · Total revenue $245K
12%
Investment reliance
Investment income $0 · Total revenue $245K
0%
Program self-sufficiency
Program service revenue $30K · Total expenses $229K
13%
Growth & trend
Revenue growth (YoY)
This year $245K · Prior year —
No prior year on file
Net-asset trend (YoY)
End of year $121K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $245K · Expenses $229K
+6%
Liabilities-to-Assets
Total liabilities — · Total assets $152K
Net-asset ratio
Net assets $121K · Total assets $152K
80%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $152K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Howard F Seligman · Reported title President · Highest reported compensation $0 · Total expenses $229K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $229K
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 99%
Overhead ratio 0.6%
Fundraising cost ratio 0%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2023
Total grants receivedfrom 3 funders$167K
See all 3 funders →
Grants paid · 2 grants · $6K · 2020–2020
Unitemized GrantFY2020$5,000
Unitemized GrantFY2020$1,000

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2023 (Latest)$155K revenue · ⤓ 990 PDF
FY2022$125K revenue · ⤓ 990 PDF
FY2021$84K revenue · ⤓ 990 PDF
FY2020$245K revenue · viewing · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2020IRS
Classification, formation year, addressIRS Business Master File
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