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N1 Foundation INC

Tax-deductible

Brooklyn, NY501(c)(3)Since 2005Arts & Culture EIN 26-0483848Revenue $1.3M in FY2025

On file with the IRSnplusonemag.com37 Greenpoint Ave, 11222-1545 · Brooklyn, NYTax-exempt since Nov 2007Publicly supported — 509(a)(2)

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The N+1 Foundation is a literary organization committed to publishing and promoting work by new and diverse writers whose style, subject matter, and intellectual ambition are underrepresented in mainstream publications.

501(c)(3) charity; gifts are tax-deductible.
76¢ of each $1 spent went to programs.
Run by 21 volunteers and 15 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 6
filings with a surplus
Average surplus $33K a year · 3% of revenue · last 6 filings
Worth a look: a surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
76%
of spending
Looks good: 76% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$114K
to officers and key staff · 8% of spending
Top officer’s pay lower than 89% of similar orgs
Looks good: pay to officers and key staff is 8% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
6 mo
of spending, in cash
Looks good: 6.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
6
named funders · $99K
Looks good: 6 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$444K
43% of total assets
Looks good: liabilities are 43% of assets; 50% or less.
Pt X · Ln 26
Independent board members
10
of 12 voting members
Looks good: 10 of 12 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.3M
-0.9% vs prior year
Spent
$1.4M
To programs
76%
Net assets
$595K
By yearFY2020–FY2025
Revenue
$1.3M
FY2025▼ -0.9%
Tap a bar for its year
Revenue by fiscal year
FY2020$748K
FY2021$945K
FY2022$930K
FY2023$890K
FY2024$1.4M
FY2025$1.3M
Expenses
$1.4M
FY2025▲ +26%
Tap a bar for its year
Expenses by fiscal year
FY2020$730K
FY2021$890K
FY2022$962K
FY2023$924K
FY2024$1.1M
FY2025$1.4M
Net assets
$595K
FY2025▼ -14%
Tap a bar for its year
Net assets by fiscal year
FY2020$408K
FY2021$464K
FY2022$431K
FY2023$441K
FY2024$689K
FY2025$595K

From the FY2025 Form 990 (year ending November 2025) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Nov 2007.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

76 cents of each dollar spent went to programs.

Program services 76% · $1.1M Management & general 13% · $187K Fundraising 10% · $146K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

14 people listed on the 990; $114K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
Mark Krotov
Board Member/Publisher
$67,944Pt VII · Sec A
Dayna Tortorici
Board Member/Executive Director
$45,981Pt VII · Sec A
$0Pt VII · Sec A
Chad Harbach
Treasurer
$0Pt VII · Sec A
Ronald Barusch
Secretary (until 2/2/25)
$0Pt VII · Sec A
Zhao Yang
Secretary (as of 2/3/25)
$0Pt VII · Sec A
Dushko Petrovich
Board Member
$0Pt VII · Sec A
Katherine Lederer
Board Member (until 2/2/25)
$0Pt VII · Sec A

Mark Krotov’s $68K as Board Member/Publisher is at the 11th percentile of top reported officer pay among 3924 $1–10M arts & culture nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 3 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2020
Mark Krotov$67,944$61,583———
Dayna Tortorici$45,981$45,508$55,027$52,731$2,115
Nikil Saval————$10,173

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Promotes and fosters appreciation and participation in literary and visual arts through publications and events.

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Provided by the organization

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1 program · $1.1M · in their own filed words · FY2024
01

Promote and foster public appreciation of and participation in the literary and visual arts through publishing newsletters, lectures and symposia.

$1.1Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
Chauncey and Marion Deering McCormick FoundationFY2024$50K
Donor Advised Charitable Giving INCFY2024$16K
Fidelity Investments Charitable Gift FundFY2024$11K
Vanguard Charitable Endowment ProgramFY2024$11K
Gaea Foundation INCFY2024$10K
Simonson Fam Charitable FndnFY2024$2K
Total grants receivedfrom 6 funders$99K
See all 6 funders →
Grants paid · 2 grants · $112K · 2024–2024
Baffler Foundation INCNY · FY2024$67,500
Unitemized GrantFY2024$45,000

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.3M
Ln 12
Gifts and grantsLn 1h$771K
Fees for servicesLn 2g$504K
Other incomeLn 4–11$55K
Money outPt IX
$1.4M
Ln 25
Programscol B$1.1M
Managementcol C$187K
Fundraisingcol D$146K
Owns and owesPt X
$595K
net assets · Ln 32
Cash and savingsLn 1–2$748K
Total assetsLn 16$1.0M
LiabilitiesLn 26$444K
PeoplePt VI, VII
14
listed · VII A
PaidVII A2
Voting boardVI 1a12
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$771K
Government grantsLn 1e$62K
Noncash giftsLn 1g$2K
Fundraising eventsLn 1c$59K
Fees for servicesLn 2g$504K
Investment incomeLn 3$10K
Other incomeLn 4–11$55K
Total revenueLn 12$1.3M
Assets in detailPt X, end of year
CashLn 1$164K
SavingsLn 2$584K
Cash and savings togetherLn 1–2$748K
InvestmentsLn 11–13$21K
Land, buildings, equipmentLn 10c$5K
Other assetsLn 15$208K
Total assetsLn 16$1.0M
LiabilitiesLn 26$444K
Net assetsLn 32$595K
OperationsPt I, VI
EmployeesI 515
VolunteersI 621
Fiscal year endsHeaderNovember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$251K$748K
InvestmentsLn 11–13$16K$21K
Land, buildings, equipmentLn 10c$3K$5K
Total assetsLn 16$907K$1.0M
LiabilitiesLn 26$261K$444K
Net assetsLn 32$646K$595K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$68K$68K
Grants to domestic individualsLn 2$45K$45K
Pay of current officers, directors and key staffLn 5$137K$96K$27K$14K
Other salaries and wagesLn 7$309K$204K$27K$78K
Other employee benefitsLn 9$98K$66K$12K$20K
Payroll taxesLn 10$33K$22K$4K$7K
Accounting feesLn 11c$23K$0$23K$0
Other fees for servicesLn 11g$148K$148K$0$0
Office expensesLn 13$20K$4K$15K$2K
OccupancyLn 16$75K$67K$7K$0
TravelLn 17$11K$5K$6K$467
Depreciation, depletion and amortizationLn 22$1K$0$1K$0
InsuranceLn 23$2K$2K$191$0
Other expenses (24a–d)Ln 24$185K$146K$30K$10K
All other expensesLn 24e$239K$190K$34K$15K
Total functional expensesLn 25$1.4M$1.1M$187K$146K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $1.3M$1.4M−$53K$595K 990 PDF
FY2024 $1.4M$1.1M$248K$689K 990 PDF
FY2023 $890K$924K−$34K$441K 990 PDF
FY2022 $930K$962K−$33K$431K 990 PDF
FY2021 $945K$890K$55K$464K 990 PDF
FY2020 $748K$730K$18K$408K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2025 990 (6 parts)
Part I · Summary $1,339,904 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $831,170$770,722
I-9 Program service revenuePrior year $446,336$503,704
I-10 Investment incomePrior year $13,097$10,361
I-11 Other revenuePrior year $10,153$55,117
I-12 Total revenuePrior year $1,300,756$1,339,904
I-13 Grants and similar amounts paid$112,500
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $532,736$576,836
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $568,267$703,956
I-18 Total expensesPrior year $1,101,003$1,393,292
I-19 Revenue less expensesPrior year $199,753−$53,388
Part VI · Governance 10 of 12 board members independent, 3 to look at
VI-1a Voting members of the governing body12
VI-1b Independent voting members10
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $1,339,904 across 12 lines filed
VIII-1c Fundraising events$58,794
VIII-1e Government grants$62,245
VIII-1f All other contributions, gifts and grants$649,683
VIII-1g Noncash contributions (included above)$1,965
VIII-1h Total contributions, gifts and grants$770,722
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Unrelated business $0 · Excluded from tax $0$503,704
VIII-3 Investment incomeUnrelated business $0 · Excluded from tax $10,361$10,361
VIII-5 RoyaltiesRelated to mission $0 · Unrelated business $0 · Excluded from tax $121$121
VIII-6 Net rental income or lossExcluded from tax $350$350
VIII-8 Net income from fundraising eventsUnrelated business $0 · Excluded from tax −$9,790−$9,790
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $64,436 · Unrelated business $0 · Excluded from tax $0$64,436
VIII-12 Total revenueRelated to mission $568,140 · Unrelated business $0 · Excluded from tax $1,042$1,339,904
Part IX · Statement of functional expenses $1,393,292 across 15 lines filed
IX-1 Grants to domestic organizationsPrograms $67,500$67,500
IX-2 Grants to domestic individualsPrograms $45,000$45,000
IX-5 Pay of current officers, directors and key staffPrograms $95,873 · Management $27,392 · Fundraising $13,696$136,961
IX-7 Other salaries and wagesPrograms $203,600 · Management $27,427 · Fundraising $78,276$309,303
IX-9 Other employee benefitsPrograms $65,687 · Management $12,024 · Fundraising $20,173$97,884
IX-10 Payroll taxesPrograms $21,936 · Management $4,015 · Fundraising $6,737$32,688
IX-11c Accounting feesPrograms $0 · Management $22,850 · Fundraising $0$22,850
IX-11g Other fees for servicesPrograms $147,823 · Management $0 · Fundraising $0$147,823
IX-13 Office expensesPrograms $3,936 · Management $14,590 · Fundraising $1,938$20,464
IX-16 OccupancyPrograms $67,383 · Management $7,487 · Fundraising $0$74,870
IX-17 TravelPrograms $4,567 · Management $5,829 · Fundraising $467$10,863
IX-22 Depreciation, depletion and amortizationPrograms $0 · Management $1,149 · Fundraising $0$1,149
IX-23 InsurancePrograms $1,717 · Management $191 · Fundraising $0$1,908
IX-24 Other expenses (24a–d)Programs $145,613 · Management $29,869 · Fundraising $9,698$185,180
IX-24e All other expensesPrograms $189,626 · Management $34,248 · Fundraising $14,975$238,849
IX-25 Total functional expensesPrograms $1,060,261 · Management $187,071 · Fundraising $145,960$1,393,292
Part X · Balance sheet $1,039,050 assets, 18 lines filed
X-1 Cash, non-interest-bearingStart of year $146,980$164,253
X-2 Savings and temporary cash investmentsStart of year $103,735$584,095
X-3 Pledges and grants receivableStart of year $417,957$25,000
X-4 Accounts receivableStart of year $7,990$10,119
X-8 Inventories for sale or useStart of year $150,449$16,177
X-9 Prepaid expenses and deferred chargesStart of year $5,727$6,067
X-10c Land, buildings and equipment, netStart of year $3,347$4,591
X-11 Publicly traded securitiesStart of year $16,148$20,951
X-15 Other assetsStart of year $54,463$207,797
X-16 Total assetsStart of year $906,796$1,039,050
X-17 Accounts payable and accrued expensesStart of year $63,783$64,131
X-19 Deferred revenueStart of year $152,517$182,785
X-25 Other liabilitiesStart of year $44,959$197,147
X-26 Total liabilitiesStart of year $261,259$444,063
X-27 Net assets without donor restrictionsStart of year $203,257$323,198
X-28 Net assets with donor restrictionsStart of year $442,280$271,789
X-32 Total net assets or fund balancesStart of year $645,537$594,987
X-33 Total liabilities and net assetsStart of year $906,796$1,039,050
Part XI · Reconciliation of net assets $594,987 net assets at year end
XI-1 Total revenue$1,339,904
XI-2 Total expenses$1,393,292
XI-3 Revenue less expenses−$53,388
XI-4 Net assets at start of year$645,537
XI-5 Net unrealized gains (losses) on investments$2,838
XI-10 Net assets at end of year$594,987

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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