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Two Chairs INC FY2023 filing

Tax-deductible

Brooklyn, NY501(c)(3)International EIN 27-4115161Revenue $401K in FY2023

On file with the IRStwochairs.com39 Remsen St Apt 2a, 11201-4129 · Brooklyn, NYTax-exempt since Aug 2013Publicly supported charity — 170(b)(1)(A)(vi)

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The organization will educate the public about different cultures by presenting documentaries, doing social work, and making little known works of art available, while also helping artists fund their work as a tool to help fulfill the goal of educating the general public.

501(c)(3) charity; gifts are tax-deductible.
98¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2023 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average surplus $22K a year · 7% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
98%
of spending
Looks good: 98% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
8 mo
of spending, in cash
Looks good: 8.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
3
named funders · $23K
Looks good: 3 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$401K
+51% vs prior year
Spent
$264K
To programs
98%
Net assets
$186K
By yearFY2020–FY2024
Revenue
$401K
FY2023▲ +51%
Tap a bar for its year
Revenue by fiscal year
FY2020$114K
FY2021$264K
FY2022$266K
FY2023$401K
FY2024$457K
Expenses
$264K
FY2023▼ -20%
Tap a bar for its year
Expenses by fiscal year
FY2020$43K
FY2021$241K
FY2022$329K
FY2023$264K
FY2024$512K
Net assets
$186K
FY2023▲ +266%
Tap a bar for its year
Net assets by fiscal year
FY2020$91K
FY2021$114K
FY2022$51K
FY2023$186K
FY2024$125K

From the FY2023 Form 990 · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Aug 2013.

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

Where the money goes

98 cents of each dollar spent went to programs.

Program services 98% · $258K Management & general 2% · $5K

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

3 people listed on the 990.

Part VII, Section A · reportable compensation
Negin Moss
Director
$0Pt VII · Sec A
Ram Devineni
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
See Two Chairs INC executive salaries →

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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

Educates about cultures through films, social work, and art, funding artists to share their work.

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Provided by the organization

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3 programs · $258K · in their own filed words · FY2023
01

Song of the North (theatrical Play)

We have continued to tour our 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.

$223Kprogram expense
02

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
03

Community Outreach

We continue to work with local communities, providing residencies, workshops, and other learning/engagement activities through our larger projects.

Pt IX · col B

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
Fidelity Investments Charitable Gift FundFY2024$10K
New England Foundation for the Arts INCFY2024$8K
Butters Family Foundation INCFY2024$5K
Total grants receivedfrom 3 funders$23K
See all 3 funders →
Grants paid · 2 grants · $16K · 2022–2022
Unitemized GrantFY2022$8,000
Unitemized GrantFY2022$8,000

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$401K
Ln 12
Gifts and grantsLn 1h$281K
Fees for servicesLn 2g$120K
Money outPt IX
$264K
Ln 25
Programscol B$258K
Managementcol C$5K
Owns and owesPt X
$186K
net assets · Ln 32
Cash and savingsLn 1–2$178K
Total assetsLn 16$186K
LiabilitiesLn 26$0
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$281K
Government grantsLn 1e$94K
Fees for servicesLn 2g$120K
Total revenueLn 12$401K
Assets in detailPt X, end of year
CashLn 1$178K
Cash and savings togetherLn 1–2$178K
Land, buildings, equipmentLn 10c$8K
Total assetsLn 16$186K
LiabilitiesLn 26$0
Net assetsLn 32$186K
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$39K$178K
Land, buildings, equipmentLn 10c$11K$8K
Total assetsLn 16$49K$186K
LiabilitiesLn 26$6K$0
Net assetsLn 32$43K$186K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$1K$1K
Advertising and promotionLn 12$5K$5K
Office expensesLn 13$4K$4K
OccupancyLn 16$8K$8K
TravelLn 17$16K$16K
Depreciation, depletion and amortizationLn 22$2K$2K
Other expenses (24a–d)Ln 24$226K$226K
All other expensesLn 24e$144$144
Total functional expensesLn 25$264K$258K$5K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $457K$512K−$55K$125K 990 PDF
FY2023 Viewing $401K$264K$137K$186K 990 PDF
FY2022 $266K$329K−$63K$51K 990 PDF
FY2021 $264K$241K$23K$114K 990 PDF
FY2020 $114K$43K$71K$91K 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 FY2023 990 (6 parts)
Part I · Summary $400,676 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $121,085$281,037
I-9 Program service revenuePrior year $116,132$119,639
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenuePrior year $237,217$400,676
I-13 Grants and similar amounts paidPrior year $8,000$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $293,547$263,725
I-18 Total expensesPrior year $301,547$263,725
I-19 Revenue less expensesPrior year −$64,330$136,951
Part VI · Governance 3 of 3 board members independent, 4 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members3
VI-12a Written conflict of interest policyNo
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
Part VIII · Statement of revenue $400,676 across 5 lines filed
VIII-1e Government grants$94,427
VIII-1f All other contributions, gifts and grants$186,610
VIII-1h Total contributions, gifts and grants$281,037
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $119,639$119,639
VIII-12 Total revenueRelated to mission $119,639 · Unrelated business $0 · Excluded from tax $0$400,676
Part IX · Statement of functional expenses $263,725 across 8 lines filed
IX-11c Accounting feesManagement $1,325$1,325
IX-12 Advertising and promotionPrograms $5,428$5,428
IX-13 Office expensesManagement $4,016$4,016
IX-16 OccupancyPrograms $8,236$8,236
IX-17 TravelPrograms $16,067$16,067
IX-22 Depreciation, depletion and amortizationPrograms $2,434$2,434
IX-24 Other expenses (24a–d)Programs $226,075$226,075
IX-24e All other expensesPrograms $144$144
IX-25 Total functional expensesPrograms $258,384 · Management $5,341 · Fundraising $0$263,725
Part X · Balance sheet $186,394 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $38,711$178,096
X-10c Land, buildings and equipment, netStart of year $10,732$8,298
X-16 Total assetsStart of year $49,443$186,394
X-26 Total liabilitiesStart of year $5,944$0
X-27 Net assets without donor restrictionsStart of year $43,499$186,394
X-32 Total net assets or fund balancesStart of year $43,499$186,394
X-33 Total liabilities and net assetsStart of year $49,443$186,394
Part XI · Reconciliation of net assets $186,394 net assets at year end
XI-1 Total revenue$400,676
XI-2 Total expenses$263,725
XI-3 Revenue less expenses$136,951
XI-4 Net assets at start of year$43,499
XI-9 Other changes in net assets$5,944
XI-10 Net assets at end of year$186,394

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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