Baffler Foundation INC FY2022 filing

Tax-deductible

New York, NY501(c)(3)Arts & CultureEIN 27-4645833Revenue $2.4M in FY2022

On file with the IRSthebaffler.com119 W 23rd St, 10011-2427 · New York, NYTax-exempt since Sep 2011Publicly supported charity — 170(b)(1)(A)(vi)

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Publishing a literary magazine and to act exclusively for charitable, educational purposes. To maintain a research institute exclusively for charitable, educational purposes.

501(c)(3) charity; gifts are tax-deductible.
60¢ of each $1 spent went to programs.
$110K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2022 · 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 deficit $20K a year · under 1% 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
60%
of spending
Worth a look: 60% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$110K
to officers and key staff · 4% of spending
Looks good: pay to officers and key staff is 4% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Concern: 0.3 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
6
named funders · $301K
Looks good: 6 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$346K
258% of total assets
Concern: liabilities are 258% of assets; over 80%.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.4M
+8% vs prior year
Spent
$2.6M
To programs
60%
Net assets
−$212K
By yearFY2020–FY2024
Revenue
$2.4M
FY2022▲ +8%
Tap a bar for its year
Revenue by fiscal year
FY2020$2.1M
FY2021$2.2M
FY2022$2.4M
FY2023$2.5M
FY2024$2.5M
Expenses
$2.6M
FY2022▲ +17%
Tap a bar for its year
Expenses by fiscal year
FY2020$2.1M
FY2021$2.2M
FY2022$2.6M
FY2023$2.5M
FY2024$2.4M
Net assets
−$212K
FY2022▼ -5832%
Tap a bar for its year
Net assets by fiscal year
FY2020−$6K
FY2021$4K
FY2022−$212K
FY2023−$123K
FY2024$144K

From the FY2022 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2022 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 Sep 2011.

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

Where the money goes

60 cents of each dollar spent went to programs.

Program services 60% · $1.6M Management & general 35% · $908K Fundraising 5% · $128K

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

6 people listed on the 990; $110K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Director
$110,000Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

James White’s $116K as Executive Director is at the 45th 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 · 4 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Valerie Cortes———$87,032$125,450
James White$115,943$115,180$110,000$35,115—
Matthew Goodman—$108,731———
Bidita Choudhury—$102,016———

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 Baffler Foundation 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

Publishes a literary magazine and maintains a research institute for educational purposes.

Questions for Baffler Foundation INC

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Provided by the organization

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1 program · $1.6M · in their own filed words · FY2022
01

Published six magazines, daily online essays, and licensed content from three decades worth of archives.

$1.6Mprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2024
See all 6 funders →

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$2.4M
Ln 12
Gifts and grantsLn 1h$2.1M
Fees for servicesLn 2g$282K
Other incomeLn 4–11$21K
Money outPt IX
$2.6M
Ln 25
Programscol B$1.6M
Managementcol C$908K
Fundraisingcol D$128K
Owns and owesPt X
−$212K
net assets · Ln 32
Cash and savingsLn 1–2$71K
Total assetsLn 16$134K
LiabilitiesLn 26$346K
PeoplePt VI, VII
6
listed · VII A
PaidVII A1
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.1M
Fees for servicesLn 2g$282K
Other incomeLn 4–11$21K
Gains on assetsLn 7$0
Total revenueLn 12$2.4M
Assets in detailPt X, end of year
CashLn 1$71K
SavingsLn 2$0
Cash and savings togetherLn 1–2$71K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$17K
Other assetsLn 15$33K
Total assetsLn 16$134K
LiabilitiesLn 26$346K
Net assetsLn 32−$212K
OperationsPt I, VI
EmployeesI 512
VolunteersI 65
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$118K$71K
InvestmentsLn 11–13$68K$0
Land, buildings, equipmentLn 10c$3K$17K
Total assetsLn 16$224K$134K
LiabilitiesLn 26$220K$346K
Net assetsLn 32$4K−$212K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$110K$55K$38K$16K
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$732K$551K$138K$43K
Pension plan contributionsLn 8$14K$10K$3K$993
Other employee benefitsLn 9$245K$182K$45K$18K
Payroll taxesLn 10$71K$51K$15K$5K
Management feesLn 11a$0
Legal feesLn 11b$334K$334K
Accounting feesLn 11c$142K$142K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$83K$52K$31K
Advertising and promotionLn 12$7K$7K
Office expensesLn 13$64K$48K$12K$5K
Information technologyLn 14$8K$8K
RoyaltiesLn 15$0
OccupancyLn 16$92K$68K$17K$7K
TravelLn 17$27K$20K$5K$2K
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$2K$2K
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$2K$2K
InsuranceLn 23$16K$16K
Other expenses (24a–d)Ln 24$633K$564K$69K$0
All other expensesLn 24e$13K$13K
Total functional expensesLn 25$2.6M$1.6M$908K$128K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $2.5M$2.4M$77K$144K 990 PDF
FY2023 $2.5M$2.5M$35K−$123K 990 PDF
FY2022 Viewing $2.4M$2.6M−$216K−$212K 990 PDF
FY2021 $2.2M$2.2M−$12K$4K 990 PDF
FY2020 $2.1M$2.1M$17K−$6K 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
See the full FY2022 990 (6 parts)
Part I · Summary $2,379,286 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,821,393$2,076,487
I-9 Program service revenuePrior year $345,775$282,244
I-10 Investment incomePrior year $848$0
I-11 Other revenuePrior year $32,987$20,555
I-12 Total revenuePrior year $2,201,003$2,379,286
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $990,461$1,172,670
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,222,269$1,422,423
I-18 Total expensesPrior year $2,212,730$2,595,093
I-19 Revenue less expensesPrior year −$11,727−$215,807
Part VI · Governance 5 of 5 board members independent, 1 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
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
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $2,379,286 across 10 lines filed
Lines not itemized here account for $4,935 of total revenue; see the IRS return.
VIII-1f All other contributions, gifts and grants$2,076,487
VIII-1h Total contributions, gifts and grants$2,076,487
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $282,244$282,244
VIII-3 Investment income$0
VIII-5 RoyaltiesExcluded from tax $494$494
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising events$0
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $15,126$15,126
VIII-12 Total revenueRelated to mission $287,179 · Excluded from tax $15,620$2,379,286
Part IX · Statement of functional expenses $2,595,093 across 31 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staffPrograms $55,000 · Management $38,500 · Fundraising $16,500$110,000
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesPrograms $550,611 · Management $138,095 · Fundraising $43,405$732,111
IX-8 Pension plan contributionsPrograms $10,047 · Management $2,929 · Fundraising $993$13,969
IX-9 Other employee benefitsPrograms $181,812 · Management $45,497 · Fundraising $17,953$245,262
IX-10 Payroll taxesPrograms $51,299 · Management $14,958 · Fundraising $5,071$71,328
IX-11a Management fees$0
IX-11b Legal feesManagement $333,652$333,652
IX-11c Accounting feesManagement $141,901$141,901
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management fees$0
IX-11g Other fees for servicesManagement $52,500 · Fundraising $30,974$83,474
IX-12 Advertising and promotionManagement $6,571$6,571
IX-13 Office expensesPrograms $47,790 · Management $11,961 · Fundraising $4,726$64,477
IX-14 Information technologyPrograms $8,250$8,250
IX-15 Royalties$0
IX-16 OccupancyPrograms $67,951 · Management $17,012 · Fundraising $6,712$91,675
IX-17 TravelPrograms $20,170 · Management $5,047 · Fundraising $1,992$27,209
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetingsPrograms $1,690$1,690
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationManagement $2,292$2,292
IX-23 InsuranceManagement $15,563$15,563
IX-24 Other expenses (24a–d)Programs $563,787 · Management $69,012 · Fundraising $0$632,799
IX-24e All other expensesManagement $12,870$12,870
IX-25 Total functional expensesPrograms $1,558,407 · Management $908,360 · Fundraising $128,326$2,595,093
Part X · Balance sheet $133,950 assets, 24 lines filed
X-1 Cash, non-interest-bearingStart of year $117,637$71,001
X-2 Savings and temporary cash investmentsStart of year $0$0
X-3 Pledges and grants receivableStart of year $0$0
X-4 Accounts receivableStart of year $1,532$615
X-8 Inventories for sale or useStart of year $0$0
X-9 Prepaid expenses and deferred chargesStart of year $16,939$12,297
X-10c Land, buildings and equipment, netStart of year $3,398$16,576
X-11 Publicly traded securitiesStart of year $68,067$0
X-12 Other securitiesStart of year $0$0
X-13 Program-related investmentsStart of year $0$0
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $16,441$33,461
X-16 Total assetsStart of year $224,014$133,950
X-17 Accounts payable and accrued expensesStart of year $28,946$170,067
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $191,365$176,156
X-20 Tax-exempt bond liabilitiesStart of year $0$0
X-24 Unsecured notes and loans payableStart of year $0$0
X-25 Other liabilitiesStart of year $0$0
X-26 Total liabilitiesStart of year $220,311$346,223
X-27 Net assets without donor restrictionsStart of year $3,703−$212,273
X-28 Net assets with donor restrictionsStart of year $0$0
X-32 Total net assets or fund balancesStart of year $3,703−$212,273
X-33 Total liabilities and net assetsStart of year $224,014$133,950
Part XI · Reconciliation of net assets −$212,273 net assets at year end
XI-1 Total revenue$2,379,286
XI-2 Total expenses$2,595,093
XI-3 Revenue less expenses−$215,807
XI-4 Net assets at start of year$3,703
XI-8 Prior period adjustments−$169
XI-10 Net assets at end of year−$212,273

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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