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Canopy Canopy Canopy INC FY2020 filing

Tax-deductible

New York, NY501(c)(3)Since 2009Arts & Culture EIN 30-0537058Revenue $790K in FY2020

On file with the IRScanopycanopycanopy.com264 Canal St Ste 3w, 10013-3592 · New York, NYTax-exempt since Sep 2009Publicly supported charity — 170(b)(1)(A)(vi)

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501(c)(3) charity; gifts are tax-deductible.
76¢ of each $1 spent went to programs.
$54K paid to officers and key staff.
Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2020 · 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
1 of 6
filings with a surplus
Average deficit $118K a year · 15% of revenue · last 6 filings
Concern: a surplus in 1 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
76%
of spending
Looks good: 76% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$54K
to officers and key staff · 5% of spending
Looks good: pay to officers and key staff is 5% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
10 mo
of spending, in cash
Looks good: 9.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $5K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$183K
18% of total assets
Looks good: liabilities are 18% of assets; 50% or less.
Pt X · Ln 26
Independent board members
17
of 17 voting members
Looks good: 17 of 17 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$790K
Spent
$985K
To programs
76%
Net assets
$855K
By yearFY2020–FY2025
Revenue
$790K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$790K
FY2021$665K
FY2022$755K
FY2023$798K
FY2024$1.0M
FY2025$707K
Expenses
$985K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$985K
FY2021$932K
FY2022$904K
FY2023$816K
FY2024$904K
FY2025$922K
Net assets
$855K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$855K
FY2021$588K
FY2022$478K
FY2023$460K
FY2024$594K
FY2025$379K

From the FY2020 Form 990 (year ending June 2020) · figures checked against the IRS filing · see the original

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You’re viewing the FY2020 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 Sep 2009.

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

Where the money goes

76 cents of each dollar spent went to programs.

Program services 76% · $753K Management & general 18% · $177K Fundraising 6% · $56K

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

19 people listed on the 990; $54K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
$51,426Pt VII · Sec A
$2,515Pt VII · Sec A
Steven Goldit
Treasurer
$0Pt VII · Sec A
Lisa Dent
Secretary
$0Pt VII · Sec A
Eileen Cohen
Board Member
$0Pt VII · Sec A
Alexandra Economou
Board Member
$0Pt VII · Sec A
John Chao
Board Member
$0Pt VII · Sec A
Regan Lin Grusy
Board Member
$0Pt VII · Sec A

Emily M Kleiman’s $71K as Director is at the 65th percentile of top reported officer pay among 2216 $100K–1M 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 · 2 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Emily M Kleiman$70,538$71,563$67,500$66,884$51,520$51,426
Peter J Russo—————$2,515

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 an online magazine and occasional print books featuring visual art, literature, and critical dialogues for free public access.

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Provided by the organization

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2 programs · $753K · in their own filed words · FY2019
01

Core Programs Digital Publishing

TC accomplishes its mission through the publication of an online magazine of visual art and literature, including interactive essays and screen-based artworks, fiction, poetry, prose, critical dialogues, and performances.

$749Kprogram expense
02

Web design, TC labs and all other general editorial activities.

$4Kprogram 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 · FY2025
Rjl Charitable FoundationFY2025$5K
Total grants receivedfrom 1 funder$5K

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$790K
Ln 12
Gifts and grantsLn 1h$685K
Fees for servicesLn 2g$57K
Other incomeLn 4–11$49K
Money outPt IX
$985K
Ln 25
Programscol B$753K
Managementcol C$177K
Fundraisingcol D$56K
Owns and owesPt X
$855K
net assets · Ln 32
Cash and savingsLn 1–2$778K
Total assetsLn 16$1.0M
LiabilitiesLn 26$183K
PeoplePt VI, VII
19
listed · VII A
PaidVII A2
Voting boardVI 1a17
IndependentVI 1b17
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$685K
Government grantsLn 1e$58K
Fundraising eventsLn 1c$104K
Fees for servicesLn 2g$57K
Other incomeLn 4–11$49K
Total revenueLn 12$790K
Assets in detailPt X, end of year
CashLn 1$776K
SavingsLn 2$2K
Cash and savings togetherLn 1–2$778K
Land, buildings, equipmentLn 10c$31K
Other assetsLn 15$22K
Total assetsLn 16$1.0M
LiabilitiesLn 26$183K
Net assetsLn 32$855K
OperationsPt I, VI
EmployeesI 510
VolunteersI 60
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$297K$778K
Land, buildings, equipmentLn 10c$59K$31K
Total assetsLn 16$1.1M$1.0M
LiabilitiesLn 26$88K$183K
Net assetsLn 32$1.1M$855K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$54K$49K$5K$0
Other salaries and wagesLn 7$394K$345K$36K$13K
Other employee benefitsLn 9$51K$45K$5K$1K
Payroll taxesLn 10$32K$28K$3K$910
Accounting feesLn 11c$29K$0$29K$0
Other fees for servicesLn 11g$172K$134K$11K$27K
Advertising and promotionLn 12$4K$0$4K$0
Office expensesLn 13$13K$0$13K$12
OccupancyLn 16$92K$81K$8K$3K
TravelLn 17$5K$329$5K$23
Depreciation, depletion and amortizationLn 22$28K$0$28K$0
InsuranceLn 23$3K$2K$237$74
Other expenses (24a–d)Ln 24$90K$68K$11K$10K
All other expensesLn 24e$18K$0$18K$0
Total functional expensesLn 25$985K$753K$177K$56K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $707K$922K−$215K$379K 990 PDF
FY2024 $1.0M$904K$134K$594K 990 PDF
FY2023 $798K$816K−$18K$460K 990 PDF
FY2022 $755K$904K−$150K$478K 990 PDF
FY2021 $665K$932K−$267K$588K 990 PDF
FY2020 Viewing $790K$985K−$196K$855K 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 FY2020 990 (6 parts)
Part I · Summary $789,779 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,433,267$684,589
I-9 Program service revenuePrior year $64,121$56,636
I-10 Investment income$0
I-11 Other revenuePrior year $42,570$48,554
I-12 Total revenuePrior year $1,539,958$789,779
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $495,322$531,260
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $529,823$454,189
I-18 Total expensesPrior year $1,025,145$985,449
I-19 Revenue less expensesPrior year $514,813−$195,670
Part VI · Governance 17 of 17 board members independent, 3 to look at
VI-1a Voting members of the governing body17
VI-1b Independent voting members17
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
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $789,779 across 10 lines filed
VIII-1b Membership dues$32,233
VIII-1c Fundraising events$104,323
VIII-1e Government grants$57,720
VIII-1f All other contributions, gifts and grants$490,313
VIII-1h Total contributions, gifts and grants$684,589
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Unrelated business $0 · Excluded from tax $0$56,636
VIII-6 Net rental income or lossExcluded from tax $40,959$40,959
VIII-8 Net income from fundraising eventsUnrelated business $0 · Excluded from tax $0$0
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $7,595 · Unrelated business $0 · Excluded from tax $0$7,595
VIII-12 Total revenueRelated to mission $64,231 · Unrelated business $0 · Excluded from tax $40,959$789,779
Part IX · Statement of functional expenses $985,449 across 14 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $48,954 · Management $5,439 · Fundraising $0$54,393
IX-7 Other salaries and wagesPrograms $345,176 · Management $35,932 · Fundraising $12,873$393,981
IX-9 Other employee benefitsPrograms $44,971 · Management $4,721 · Fundraising $1,469$51,161
IX-10 Payroll taxesPrograms $27,887 · Management $2,928 · Fundraising $910$31,725
IX-11c Accounting feesPrograms $0 · Management $29,200 · Fundraising $0$29,200
IX-11g Other fees for servicesPrograms $134,072 · Management $10,742 · Fundraising $27,394$172,208
IX-12 Advertising and promotionPrograms $0 · Management $3,915 · Fundraising $0$3,915
IX-13 Office expensesPrograms $0 · Management $13,178 · Fundraising $12$13,190
IX-16 OccupancyPrograms $80,975 · Management $8,500 · Fundraising $2,644$92,119
IX-17 TravelPrograms $329 · Management $5,103 · Fundraising $23$5,455
IX-22 Depreciation, depletion and amortizationPrograms $0 · Management $27,546 · Fundraising $0$27,546
IX-23 InsurancePrograms $2,258 · Management $237 · Fundraising $74$2,569
IX-24 Other expenses (24a–d)Programs $68,281 · Management $11,351 · Fundraising $10,216$89,848
IX-24e All other expensesPrograms $0 · Management $18,139 · Fundraising $0$18,139
IX-25 Total functional expensesPrograms $752,903 · Management $176,931 · Fundraising $55,615$985,449
Part X · Balance sheet $1,037,933 assets, 16 lines filed
X-1 Cash, non-interest-bearingStart of year $294,330$775,641
X-2 Savings and temporary cash investmentsStart of year $2,422$2,422
X-3 Pledges and grants receivableStart of year $754,000$189,130
X-4 Accounts receivableStart of year $4,804$8,466
X-9 Prepaid expenses and deferred chargesStart of year $1,585$8,385
X-10c Land, buildings and equipment, netStart of year $58,965$31,419
X-15 Other assetsStart of year $22,470$22,470
X-16 Total assetsStart of year $1,138,576$1,037,933
X-17 Accounts payable and accrued expensesStart of year $82,429$65,190
X-24 Unsecured notes and loans payable$109,900
X-25 Other liabilitiesStart of year $3,948$7,896
X-26 Total liabilitiesStart of year $87,959$182,986
X-27 Net assets without donor restrictionsStart of year $376,117$777,447
X-28 Net assets with donor restrictionsStart of year $674,500$77,500
X-32 Total net assets or fund balancesStart of year $1,050,617$854,947
X-33 Total liabilities and net assetsStart of year $1,138,576$1,037,933
Part XI · Reconciliation of net assets $854,947 net assets at year end
XI-1 Total revenue$789,779
XI-2 Total expenses$985,449
XI-3 Revenue less expenses−$195,670
XI-4 Net assets at start of year$1,050,617
XI-10 Net assets at end of year$854,947

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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