The Lit Fund

Astoria, NYUnknown exempt organizationEIN 46-1141592

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To financially assist organizations and individual artists creating independent theater in the five boroughs of New York City.

80¢ of each $1 spent went to programs.
Run by 17 volunteers.
Mission: Form 990 Part I, line 1 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2022
latest Form 990
Worth a look: the latest return is for FY2022, 4 tax years back; more than 3 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 3
filings with a surplus
Average deficit $18K a year · 3% of revenue · last 3 filings
Fine: a surplus in 2 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
80%
of spending
Looks good: 80% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Named funders
1
named funder · $45
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
total owed
No data yet: the filing does not give total assets.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$80K
-95% vs prior year
Spent
$489K
To programs
80%
Net assets
$0
By yearFY2020–FY2022
Revenue
$80K
FY2022▼ -95%
Revenue by fiscal year
FY2020$404K
FY2021$1.5M
FY2022$80K
Expenses
$489K
FY2022▼ -60%
Expenses by fiscal year
FY2020$297K
FY2021$1.2M
FY2022$489K
Net assets
$0
FY2022▼ -100%
Net assets by fiscal year
FY2020$150K
FY2021$397K
FY2022$0

From the FY2022 Form 990 · see the original

Form 990 (PDF) Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2022.

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

Where the money goes

80 cents of each dollar spent went to programs.

Program services 80% · $389K Management & general 14% · $68K Fundraising 7% · $32K

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.

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

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2021FY2020
Randi Berry$35,000$16,000

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 The Lit Fund 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

Funds independent theater artists and groups in New York City.

Provided by the organization

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3 programs · $389K · in their own filed words · FY2022
01

Other expenses incurred by program

$292Kprogram expense
02

Community grants offered to theater companies in NYC.

$97Kprogram expense
03

Emergency grants offered to individuals and theater companies in NYC.

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 · funders on record
Grants received · FY2023
Total grants receivedfrom 1 funder$45

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$80K
Ln 12
Gifts and grantsLn 1h$78K
Other incomeLn 4–11$2K
Money outPt IX
$489K
Ln 25
Programscol B$389K
Managementcol C$68K
Fundraisingcol D$32K
Owns and owesPt X
$0
net assets · Ln 32
Total assetsLn 16$0
LiabilitiesLn 26$0
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$78K
Fundraising eventsLn 1c$2K
Other incomeLn 4–11$2K
Total revenueLn 12$80K
Assets in detailPt X, end of year
CashLn 1$0
Other assetsLn 15$0
Total assetsLn 16$0
LiabilitiesLn 26$0
Net assetsLn 32$0
OperationsPt I, VI
EmployeesI 50
VolunteersI 617
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$340K$0
Total assetsLn 16$440K$0
LiabilitiesLn 26$43K$0
Net assetsLn 32$397K$0
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$97K$97K
Grants to domestic individualsLn 2$0$0
Other salaries and wagesLn 7$11K$0$11K$0
Payroll taxesLn 10$1K$0$1K$0
Management feesLn 11a$53K$0$53K$0
Accounting feesLn 11c$2K$0$2K$0
Professional fundraising feesLn 11e$32K$32K
Advertising and promotionLn 12$471$471$0$0
Office expensesLn 13$182$0$182$0
TravelLn 17$36$0$36$0
Other expenses (24a–d)Ln 24$292K$292K$0$0
All other expensesLn 24e$875$0$875$0
Total functional expensesLn 25$489K$389K$68K$32K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2022 Latest Viewing $80K$489K−$409K$0 990 PDF
FY2021 $1.5M$1.2M$247K$397K 990 PDF
FY2020 $404K$297K$108K$150K 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 (4 parts)
Part VIII · Statement of revenue $80,322 across 4 lines filed
Lines not itemized here account for $2,062 of total revenue; see the IRS return.
VIII-1c Fundraising events$1,951
VIII-1f All other contributions, gifts and grants$76,309
VIII-1h Total contributions, gifts and grants$78,260
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$80,322
Part IX · Statement of functional expenses $489,145 across 12 lines filed
IX-1 Grants to domestic organizationsPrograms $97,130$97,130
IX-2 Grants to domestic individualsPrograms $0$0
IX-7 Other salaries and wagesPrograms $0 · Management $11,154 · Fundraising $0$11,154
IX-10 Payroll taxesPrograms $0 · Management $1,024 · Fundraising $0$1,024
IX-11a Management feesPrograms $0 · Management $53,266 · Fundraising $0$53,266
IX-11c Accounting feesPrograms $0 · Management $1,500 · Fundraising $0$1,500
IX-11e Professional fundraising feesFundraising $32,000$32,000
IX-12 Advertising and promotionPrograms $471 · Management $0 · Fundraising $0$471
IX-13 Office expensesPrograms $0 · Management $182 · Fundraising $0$182
IX-17 TravelPrograms $0 · Management $36 · Fundraising $0$36
IX-24 Other expenses (24a–d)Programs $291,507 · Management $0 · Fundraising $0$291,507
IX-24e All other expensesPrograms $0 · Management $875 · Fundraising $0$875
IX-25 Total functional expensesPrograms $389,108 · Management $68,037 · Fundraising $32,000$489,145
Part X · Balance sheet $0 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $340,434$0
X-3 Pledges and grants receivableStart of year $100,000$0
X-15 Other assetsStart of year $0$0
X-16 Total assetsStart of year $440,434$0
X-17 Accounts payable and accrued expensesStart of year $43,015$0
X-19 Deferred revenueStart of year $0$0
X-26 Total liabilitiesStart of year $43,015$0
X-27 Net assets without donor restrictionsStart of year $394,279$0
X-28 Net assets with donor restrictionsStart of year $3,140$0
X-32 Total net assets or fund balancesStart of year $397,419$0
X-33 Total liabilities and net assetsStart of year $440,434$0
Part XI · Reconciliation of net assets $0 net assets at year end
XI-1 Total revenue$80,322
XI-2 Total expenses$489,145
XI-3 Revenue less expenses−$408,823
XI-4 Net assets at start of year$397,419
XI-9 Other changes in net assets$11,404
XI-10 Net assets at end of year$0

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

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