Baffler Foundation INC FY2023 filing

Tax-deductible

New York, NY501(c)(3)Arts & CultureEIN 27-4645833Revenue $2.5M in FY2023

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.
69¢ of each $1 spent went to programs.
$326K 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

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 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
69%
of spending
Fine: 69% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$326K
to officers and key staff · 13% of spending
Looks good: pay to officers and key staff is 13% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.7 months of spending in cash; under 1.
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
$488K
134% of total assets
Concern: liabilities are 134% 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
$2.5M
+6% vs prior year
Spent
$2.5M
To programs
69%
Net assets
−$123K
By yearFY2020–FY2024
Revenue
$2.5M
FY2023▲ +6%
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
$2.5M
FY2023▼ -4%
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
−$123K
FY2023▲ +42%
Tap a bar for its year
Net assets by fiscal year
FY2020−$6K
FY2021$4K
FY2022−$212K
FY2023−$123K
FY2024$144K

From the FY2023 Form 990 · figures checked against the IRS filing · 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 Sep 2011.

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

Where the money goes

69 cents of each dollar spent went to programs.

Program services 69% · $1.7M Management & general 26% · $650K Fundraising 5% · $119K

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

8 people listed on the 990; $326K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Director
$115,180Pt VII · Sec A
Editor in Chief
$108,731Pt VII · Sec A
Managing Editor
$102,016Pt 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.

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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 · $1.7M · in their own filed words · FY2023
01

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

$1.7Mprogram 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 FY2023 990, line by line.

1The main four
Money inPt VIII
$2.5M
Ln 12
Gifts and grantsLn 1h$2.1M
Fees for servicesLn 2g$288K
Other incomeLn 4–11$152K
Money outPt IX
$2.5M
Ln 25
Programscol B$1.7M
Managementcol C$650K
Fundraisingcol D$119K
Owns and owesPt X
−$123K
net assets · Ln 32
Cash and savingsLn 1–2$150K
Total assetsLn 16$365K
LiabilitiesLn 26$488K
PeoplePt VI, VII
8
listed · VII A
PaidVII A3
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.1M
Fees for servicesLn 2g$288K
Investment incomeLn 3$11
Other incomeLn 4–11$152K
Gains on assetsLn 7$0
Total revenueLn 12$2.5M
Assets in detailPt X, end of year
CashLn 1$150K
SavingsLn 2$0
Cash and savings togetherLn 1–2$150K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$14K
Other assetsLn 15$176K
Total assetsLn 16$365K
LiabilitiesLn 26$488K
Net assetsLn 32−$123K
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 FY23End FY23
Cash and savingsLn 1–2$71K$150K
InvestmentsLn 11–13$0$0
Land, buildings, equipmentLn 10c$17K$14K
Total assetsLn 16$134K$365K
LiabilitiesLn 26$346K$488K
Net assetsLn 32−$212K−$123K
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$115K$87K$19K$9K
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$809K$613K$131K$64K
Pension plan contributionsLn 8$36K$27K$6K$3K
Other employee benefitsLn 9$251K$190K$41K$20K
Payroll taxesLn 10$75K$57K$12K$6K
Management feesLn 11a$0
Legal feesLn 11b$176K$176K
Accounting feesLn 11c$91K$91K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$57K$14K$38K$5K
Advertising and promotionLn 12$8K$3K$5K
Office expensesLn 13$47K$36K$8K$4K
Information technologyLn 14$16K$12K$3K$1K
RoyaltiesLn 15$0
OccupancyLn 16$79K$60K$13K$6K
TravelLn 17$23K$16K$6K$1K
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$238$238
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$6K$6K
InsuranceLn 23$12K$12K
Other expenses (24a–d)Ln 24$671K$602K$69K$0
All other expensesLn 24e$14K$14K
Total functional expensesLn 25$2.5M$1.7M$650K$119K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $2.5M$2.4M$77K$144K 990 PDF
FY2023 Viewing $2.5M$2.5M$35K−$123K 990 PDF
FY2022 $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 FY2023 990 (6 parts)
Part I · Summary $2,521,411 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $2,076,487$2,082,187
I-9 Program service revenuePrior year $282,244$287,555
I-10 Investment incomePrior year $0$11
I-11 Other revenuePrior year $20,555$151,658
I-12 Total revenuePrior year $2,379,286$2,521,411
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 $1,172,670$1,285,759
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,422,423$1,200,918
I-18 Total expensesPrior year $2,595,093$2,486,677
I-19 Revenue less expensesPrior year −$215,807$34,734
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 $2,521,411 across 10 lines filed
Lines not itemized here account for $2,757 of total revenue; see the IRS return.
VIII-1f All other contributions, gifts and grants$2,082,187
VIII-1h Total contributions, gifts and grants$2,082,187
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $287,555$287,555
VIII-3 Investment incomeExcluded from tax $11$11
VIII-5 RoyaltiesExcluded from tax $6,443$6,443
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 $142,458$142,458
VIII-12 Total revenueRelated to mission $290,312 · Excluded from tax $148,912$2,521,411
Part IX · Statement of functional expenses $2,486,677 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 $87,364 · Management $18,722 · Fundraising $9,125$115,211
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesPrograms $613,196 · Management $131,405 · Fundraising $64,045$808,646
IX-8 Pension plan contributionsPrograms $27,411 · Management $5,874 · Fundraising $2,863$36,148
IX-9 Other employee benefitsPrograms $190,199 · Management $40,759 · Fundraising $19,865$250,823
IX-10 Payroll taxesPrograms $56,820 · Management $12,176 · Fundraising $5,935$74,931
IX-11a Management fees$0
IX-11b Legal feesManagement $176,117$176,117
IX-11c Accounting feesManagement $90,737$90,737
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management fees$0
IX-11g Other fees for servicesPrograms $13,813 · Management $38,131 · Fundraising $4,979$56,923
IX-12 Advertising and promotionPrograms $3,455 · Management $5,000$8,455
IX-13 Office expensesPrograms $35,880 · Management $7,689 · Fundraising $3,747$47,316
IX-14 Information technologyPrograms $11,953 · Management $2,582 · Fundraising $1,248$15,783
IX-15 Royalties$0
IX-16 OccupancyPrograms $59,922 · Management $12,841 · Fundraising $6,259$79,022
IX-17 TravelPrograms $15,538 · Management $6,176 · Fundraising $1,330$23,044
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 InterestManagement $238$238
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationManagement $5,524$5,524
IX-23 InsuranceManagement $12,380$12,380
IX-24 Other expenses (24a–d)Programs $602,016 · Management $69,191 · Fundraising $0$671,207
IX-24e All other expensesManagement $14,172$14,172
IX-25 Total functional expensesPrograms $1,717,567 · Management $649,714 · Fundraising $119,396$2,486,677
Part X · Balance sheet $364,679 assets, 24 lines filed
X-1 Cash, non-interest-bearingStart of year $71,001$149,871
X-2 Savings and temporary cash investmentsStart of year $0$0
X-3 Pledges and grants receivableStart of year $0$8,437
X-4 Accounts receivableStart of year $615$92
X-8 Inventories for sale or useStart of year $0$0
X-9 Prepaid expenses and deferred chargesStart of year $12,297$16,370
X-10c Land, buildings and equipment, netStart of year $16,576$13,698
X-11 Publicly traded securitiesStart of year $0$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 $33,461$176,211
X-16 Total assetsStart of year $133,950$364,679
X-17 Accounts payable and accrued expensesStart of year $170,067$186,400
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $176,156$150,735
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$150,735
X-26 Total liabilitiesStart of year $346,223$487,870
X-27 Net assets without donor restrictionsStart of year −$212,273−$123,191
X-28 Net assets with donor restrictionsStart of year $0$0
X-32 Total net assets or fund balancesStart of year −$212,273−$123,191
X-33 Total liabilities and net assetsStart of year $133,950$364,679
Part XI · Reconciliation of net assets −$123,191 net assets at year end
XI-1 Total revenue$2,521,411
XI-2 Total expenses$2,486,677
XI-3 Revenue less expenses$34,734
XI-4 Net assets at start of year−$212,273
XI-8 Prior period adjustments$54,348
XI-10 Net assets at end of year−$123,191

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

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