N1 Foundation INC FY2021 filing

Tax-deductible

Brooklyn, NY501(c)(3)Since 2005Arts & CultureEIN 26-0483848Revenue $945K in FY2021

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.
85¢ of each $1 spent went to programs.
$12K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2021 · 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
85%
of spending
Looks good: 85% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$12K
to officers and key staff · 1% of spending
Looks good: pay to officers and key staff is 1% of spending; 15% or less.
Pt VII · Sec A
Named funders
6
named funders · $99K
Looks good: 6 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$119K
20% of total assets
Looks good: liabilities are 20% of assets; 50% or less.
Pt X · Ln 26
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$945K
+26% vs prior year
Spent
$890K
To programs
85%
Net assets
$464K
By yearFY2020–FY2025
Revenue
$945K
FY2021▲ +26%
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
$890K
FY2021▲ +22%
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
$464K
FY2021▲ +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 FY2021 Form 990 (year ending November 2021) · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

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

85 cents of each dollar spent went to programs.

Program services 85% · $754K Management & general 11% · $99K Fundraising 4% · $37K

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

12 people listed on the 990; $12K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2021 filing did not itemize Part VII
Board Member
$10,173Pt VII · Sec A
Secretary/Managing Editor
$2,115Pt VII · Sec A
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Board Member
$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.

See N1 Foundation INC executive salaries →

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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 · $624K · in their own filed words · FY2019
01

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

$624Kprogram 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
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 FY2021 990, line by line.

1The main four
Money inPt VIII
$945K
Ln 12
Other incomeLn 4–11$509K
Gifts and grantsLn 1h$437K
Money outPt IX
$890K
Ln 25
Programscol B$754K
Managementcol C$99K
Fundraisingcol D$37K
Owns and owesPt X
$464K
net assets · Ln 32
Total assetsLn 16$583K
LiabilitiesLn 26$119K
PeoplePt VI, VII
12
listed · VII A
PaidVII A2
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$437K
Other incomeLn 4–11$509K
Total revenueLn 12$945K
Assets in detailPt X, end of year
Total assetsLn 16$583K
LiabilitiesLn 26$119K
Net assetsLn 32$464K
OperationsPt I, VI
EmployeesI 515
VolunteersI 621
Fiscal year endsHeaderNovember

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $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 Viewing $945K$890K$55K$464K 990 PDF
FY2020 $748K$730K$18K$408K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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