Two Chairs INC EIN 27-4115161 Form 990 (PDF) Claim this org

Two Chairs INC FY2022 filing

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Educates about cultures through films, social work, and art, funding artists to share their work. For fiscal year 2022 it reported $266K in revenue, $329K in expenses, and $51K in net assets.Pt I

Type
Public charity (501(c)(3)) · International
Location
Brooklyn, NY
Website
www.twochairs.com
Filings
5 on file (2020–2022)
Revenue
$266KFY2022
Expenses
$329K
Net assets
$51K
People
6
Filings
5
Updates
0
More identity details & actions ⌄
EIN  27-4115161 Public charity (501(c)(3)) Brooklyn, NY
Form 990 (PDF)
You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →
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Size
$100K–1M
What they do
Educates about cultures through films, social work, and art, funding artists to share their work.
Leadership
Sourena Parham · Secretarydirector
Money in and out
$266K revenue, $329K expenses
Bottom line
95% program efficiency
Where the money goes · FY2022
Total revenue
$266K
Pt VIII · Ln 12
Total expenses
$329K
Pt IX · Ln 25
Net assets
$51K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$63K
Where spending went · Part IX cols B–D
Program services $0.95 Management & general $0.05
Program efficiency
95%
of spending reaches programs
Operating runway
1.4mo
months of highly liquid reserves at operating expense rate
Surplus margin
-24%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2022 · Form 990
Revenue
$266K
FY2022▲ +0.7%
Expenses
$329K
FY2022▲ +36%
Total assets
$51K
FY2022▼ -55%
Total liabilities
$0
FY2022
Total revenue
$266K
Pt VIII · Ln 12
Total expenses
$329K
Pt IX · Ln 25
Net assets
$51K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$63K
Total assetsPt X · Ln 16$51K
Program-expense ratioPt IX · col B95%
Voting members of governing bodyPt I · Ln 35
Independent voting membersPt I · Ln 43
Mission & Programs · Part III

Where the work happens

4 program services account for $575K of program spending, described in the organization's own filed words · FY2022.
01

Song of the North (theatrical Play)

This is a new theatrical production, which premiered at the Brooklyn Academy of Music March 5, 2022. The 85-minute show incorporates puppets, shadow casters, music and animation and is based on the 10th century epic poem Shahnameh. We produced this show with artist Hamid Rahmanian, providing support and fundraising services.

$256Kprogram expense
02

Song of the North (theatrical Play)

This is a new theatrical production, which premiered at the Brooklyn Academy of Music March 5, 2022. The 85-minute show incorporates puppets, shadow casters, music and animation and is based on the 10th century epic poem Shahnameh. We produced this show with artist Hamid Rahmanian, providing support and fundraising services.

$216Kprogram expense
03

Book Publishing Fund

We are continuing with our publishing fund to help artists publish their own books, allowing them to maintain more control over their work. We help raise funds for the cost of the book and then retain some portion of the profits for additional reprints.

$67Kprogram expense
04

Book Publishing Fund

We are continuing with our publishing fund to help artists publish their own books, allowing them to maintain more control over their work. We help raise funds for the cost of the book and then retain some portion of the profits for additional reprints.

$36Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CTwo Chairs INC
EINHdr · item D27-4115161
Principal addressHdr · item CBrooklyn, NY
WebsiteHdr · item Jwww.twochairs.com
Year of formationHdr · item Lpending
State of legal domicileHdr · item MNY
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFInternational (Q21)
Ruling yearIRS BMFAug 2013

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a5
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
Secretarydirector
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Secretarydirector
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
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Statement of Revenue

Part VIII
Contributions & grants$156K · 59%
Program service revenue$110K · 41%
Contributions & grants59%$156K
Program service revenue41%$110K
— government grantsLn 1e$50K
Total revenueLn 12$266K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.95 Management & general $0.05
Program services95%$313K
Management & general5%$15K
Total functional expensesLn 25$329K

Balance Sheet

Part X · end of year
CashLn 1$39K
Total assetsLn 16$51K
Total liabilitiesLn 26$0
Total net assetsLn 32$51K
Months of cash on handcomputed1.4

Financial Metrics

Form 990 · FY2022 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $39K · Operating expenses/yr $329K
1.4 months
Where the money goes
Program services
Program services $313K · Total expenses $329K
95%
Management & General
Management & general $15K · Total expenses $329K
5%
Fundraising
Fundraising $0 · Total expenses $329K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $155K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $156K · Total revenue $266K
59%
Government reliance
Government grants $50K · Total revenue $266K
19%
Earned-income share
Program service revenue $110K · Total revenue $266K
41%
Investment reliance
Investment income $0 · Total revenue $266K
0%
Program self-sufficiency
Program service revenue $110K · Total expenses $329K
33%
Growth & trend
Revenue growth (YoY)
This year $266K · Prior year $264K
+0.7%
Net-asset trend (YoY)
End of year $51K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $266K · Expenses $329K
-24%
Liabilities-to-Assets
Total liabilities — · Total assets $51K
Net-asset ratio
Net assets $51K · Total assets $51K
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $51K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Sourena Parham · Reported title SecretaryDirector · Highest reported compensation $0 · Total expenses $329K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $329K
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 95%
Overhead ratio 5%
Fundraising cost ratio 0%
Revenue growth 0.7%
Accounting fee ratio 0.8%

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 · FY2024
See all 3 funders →
Grants paid · 2 grants · $16K · 2022–2022
Unitemized GrantFY2022$8,000
Unitemized GrantFY2022$8,000

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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
FY2024 (Latest)$457K revenue · ⤓ 990 PDF
FY2023$401K revenue · ⤓ 990 PDF
FY2022$266K revenue · viewing · ⤓ 990 PDF
FY2021$264K revenue · ⤓ 990 PDF
FY2020$114K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2022IRS
Classification, formation year, addressIRS Business Master File
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