Flying V Ltd EIN 45-3158715

Flying V Ltd FY2020 filing

Not yet claimed Claim this org →

Creates intersectional art exploring modern mythologies to foster belonging and affirm individual identities. For fiscal year 2020 it reported $269K in revenue, $215K in expenses, and $72K in net assets.Pt I

Founded
2011
Type
Public charity (501(c)(3)) · Arts & Culture
Location
Bethesda, MD
Filings
6 on file (2020–2020)
Revenue
$269KFY2020
Expenses
$215K
Net assets
$72K
People
14
Filings
6
Updates
0
More identity details & actions ⌄
EIN  45-3158715 Public charity (501(c)(3)) Bethesda, MD Founded 2011
Form 990 (PDF)
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2025) →
Compare with another nonprofit →
Is this your organization?
Claim this profile to manage it and share your story.
Claim
Provided by the organization

This section is blank until Flying V Ltd claims this page.

Know this organization? Claim it to add your story

Size
$100K–1M
What they do
Creates intersectional art exploring modern mythologies to foster belonging and affirm individual identities.
Leadership
Katherine Offutt · Executive Director · $31K
Money in and out
$269K revenue, $215K expenses
Bottom line
83% program efficiency
Where the money goes · FY2020
Total revenue
$269K
Pt VIII · Ln 12
Total expenses
$215K
Pt IX · Ln 25
Net assets
$72K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $54K
Where spending went · Part IX cols B–D
Program services $0.83 Management & general $0.09 Fundraising $0.08
Program efficiency
83%
of spending reaches programs
Operating runway
3.5mo
months of highly liquid reserves at operating expense rate
Surplus margin
+20%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2020 · Form 990
Revenue
$269K
FY2020
Expenses
$215K
FY2020
Total assets
$82K
FY2020
Total liabilities
$10K
FY2020
Total revenue
$269K
Pt VIII · Ln 12
Total expenses
$215K
Pt IX · Ln 25
Net assets
$72K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$54K
Total assetsPt X · Ln 16$82K
Program-expense ratioPt IX · col B83%
Voting members of governing bodyPt I · Ln 39
Independent voting membersPt I · Ln 48
Mission & Programs · Part III

Where the work happens

3 program services account for $3K of program spending, described in the organization's own filed words · FY2020.
01

Podcast programming paperless pulp series 2DESPITE a 2021 release, flying v was able to record and do most of the work on producing our second series of our acclaimed paperless pulp anthology podcast in the fall and winter of 2020.

$1Kprogram expense
02

Social distance showdownprogrammatically, flying v is deeply proud of our summer project: "the social distance showdown." over a dozen, multi-day stage combat workshops were cancelled this year because of COVID-19, on top of many smaller classes offered by individual INSTRUCTORS/THEATERS.

$956program expense
03

Flying v festfor flying v, the spring was meant to be an exciting step into rapid-fire programming with our first "flying v fest". Over three weeks in march, flying v was slated to present two performances, one hosted workshop on play devising, two stage combat education classes, one masterclass for performers, one marketing seminar for…

$956program expense

Run this program? Claim this org to tell your story

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CFlying V Ltd
EINHdr · item D45-3158715
Principal addressHdr · item CBethesda, MD
WebsiteHdr · item Jnone reported
Year of formationHdr · item L2011
State of legal domicileHdr · item MMD
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFArts & Culture (A65)
Ruling yearIRS BMFOct 2014

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a9
Independent voting membersPt VI · Ln 1b8
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Executive Director
$31,087Pt VII · Sec A
Producing Artistic Directo
$20,026Pt VII · Sec A
Managing Director
$4,704Pt VII · Sec A
$0Pt VII · Sec A
At Large
$0Pt VII · Sec A
At Large
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A

Alexandra Kelly Colburn’s $42K as Executive Director is at the 37th percentile of top reported officer pay among 2213 $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 · 6 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Alexandra Kelly Colburn$42,000$31,661
Katherine Offutt$39,814$31,087
Katherine Ross$37,000
Katherine Offutt$32,675
Jason Schlafstein$20,026
Jonathan Rubin$4,704

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 Flying V Ltd executive salaries →

Are you one of these people? Claim this org to confirm your role

Statement of Revenue

Part VIII
Contributions & grants$168K · 62%
Program service revenue$100K · 37%
Contributions & grants62%$168K
Program service revenue37%$100K
Investment income$6
Other revenue$1K
Total revenueLn 12$269K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.83 Management & general $0.09 Fundraising $0.08
Program services83%$180K
Management & general9%$19K
Fundraising8%$17K
Total functional expensesLn 25$215K

Balance Sheet

Part X · end of year
CashLn 1$63K
Total assetsLn 16$82K
Total liabilitiesLn 26$10K
Total net assetsLn 32$72K
Months of cash on handcomputed3.5

Financial Metrics

Form 990 · FY2020 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $63K · Operating expenses/yr $215K
3.5 months
Where the money goes
Program services
Program services $180K · Total expenses $215K
83%
Management & General
Management & general $19K · Total expenses $215K
9%
Fundraising
Fundraising $17K · Total expenses $215K
8%
Cost to raise $1
Fundraising expense $17K · Solicited contributions $168K
$0.10 to raise $1
Where the money comes from
Contribution dependence
Contributions & grants $168K · Total revenue $269K
62%
Government reliance
Government grants — · Total revenue $269K
Earned-income share
Program service revenue $100K · Total revenue $269K
37%
Investment reliance
Investment income $6 · Total revenue $269K
<0.01%
Program self-sufficiency
Program service revenue $100K · Total expenses $215K
47%
Growth & trend
Revenue growth (YoY)
This year $269K · Prior year —
No prior year on file
Net-asset trend (YoY)
End of year $72K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $269K · Expenses $215K
+20%
Liabilities-to-Assets
Total liabilities — · Total assets $82K
Net-asset ratio
Net assets $72K · Total assets $82K
87%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $82K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Katherine Offutt · Reported title EXECUTIVE DIRECTOR · Highest reported compensation $31K · Total expenses $215K
14%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $51K · Total expenses $215K
24%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 83%
Overhead ratio 9%
Fundraising cost ratio 10%

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 · funders on record
Grants received · FY2024
See all 3 funders →

Similar Organizations

Closest in mission — by what they do
See all organizations like Flying V Ltd →

Compare

Search another nonprofit to view revenue, expenses, assets, key metrics, and leaders side by side

Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025 (Latest)$332K revenue · ⤓ 990 PDF
FY2024$349K revenue · ⤓ 990 PDF
FY2023$288K revenue · ⤓ 990 PDF
FY2022$264K revenue · ⤓ 990 PDF
FY2021$249K revenue · ⤓ 990 PDF
FY2020$269K revenue · viewing · ⤓ 990 PDF

Want to add your own materials alongside these filings? Claim this org

Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2020IRS
Classification, formation year, addressIRS Business Master File
Names, privacy, and removal requests More

The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.

We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.

If you ARE the filing organization, claim this org and add context

Made it to the end? Claim this organization

All figures are derived from public IRS Form 990 filings and are presented without evaluation of any organization. philanthropy.org does not rate, score, or rank organizations, including the peer-cohort and compensation comparisons above.