The Lit Fund

Astoria, NY · Unknown exempt organization

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

Status and standing

Is it real, and can you give to it?

Tax-deductible?
Not on file
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Last filed FY2022 — 4 yrs ago
Legal name (IRS)Hdr · item CThe Lit Fund
EINHdr · item D46-1141592
Exempt statusHdr · item I501(c)(3) · active
Latest filingForm 990FY2022 · Form 990
Principal addressHdr · item CAstoria, NY
NTEE classificationIRS BMFNonprofit

Where the money goes

What each dollar paid for.

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.80 Management & general $0.14 Fundraising $0.07
Program services80%$389K
Management & general14%$68K
Fundraising7%$32K
Total functional expensesLn 25$489K

Financial health

Is it on solid ground?

Surplus margin
-509%
revenue over expenses, this year▼ -3129% vs prior filing year
Program spending
80%
of expenses reach programs▼ -11% vs prior filing year

Summary of the Filing

Part I · fiscal year 2022 · Form 990
Total assets
$0
FY2022▼ -100%
Total assets by fiscal year
FY2020$153K
FY2021$440K
FY2022$0
Total liabilities
$0
FY2022▼ -100%
Total liabilities by fiscal year
FY2020$3K
FY2021$43K
FY2022$0
Revenue less expensesPt I · Ln 19−$409K
Total assetsPt X · Ln 16$0
Program-expense ratioPt IX · col B80%
Voting members of governing bodyPt I · Ln 37
Independent voting membersPt I · Ln 47

Balance Sheet

Part X · end of year
CashLn 1—
Total assetsLn 16$0
Total liabilitiesLn 26$0
Total net assetsLn 32$0

Statement of Revenue

Part VIII
Contributions & grants$78K · 97%
Other revenue$2K · 3%
Contributions & grants97%$78K
Other revenue3%$2K
Total revenueLn 12$80K

Financial Metrics

Form 990 · FY2022 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves — · Operating expenses/yr $489K
Highly liquid reserves (cash & marketable securities on Pt X) ÷ monthly operating expenses (Pt IX total, less non-cash grants & depreciation when reported).
Where the money goes
Program services
Program services $389K · Total expenses $489K
80%
Management & General
Management & general $68K · Total expenses $489K
14%
Fundraising
Fundraising $32K · Total expenses $489K
7%
Cost to raise $1
Fundraising expense (3-yr avg) $28K · Solicited contributions (3-yr avg) $646K
$0.04 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $78K · Total revenue $80K
97%
Government reliance
Government grants — · Total revenue $80K
—
Earned-income share
Program service revenue $0 · Total revenue $80K
0%
Investment reliance
Investment income $0 · Total revenue $80K
0%
Program self-sufficiency
Program service revenue $0 · Total expenses $489K
0%
Growth & trend
Revenue growth (YoY)
This year $80K · Prior year $1.5M
-95%
Net-asset trend (YoY)
End of year $0 · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $80K · Expenses $489K
-509%
Liabilities-to-Assets
Total liabilities — · Total assets $0
—
Net-asset ratio
Net assets $0 · Total assets $0
—
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $0
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Raquel Almazan · Reported title President · Highest reported compensation $0 · Total expenses $489K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $12K · Total expenses $489K
2%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 80%——
Overhead ratio 14%——
Fundraising cost ratio 41%——
Revenue growth -95%——
Accounting fee ratio 0.3%——
Fundraising fee ratio 7%——

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.

Leadership and pay

Who runs it, and what are they paid?

Officers, Directors & Key Employees

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.

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Governance & Policies

Part VI
  • 7Voting board membersPt VI · Ln 1a
  • 7Independent board membersPt VI · Ln 1b
  • Conflict-of-interest policyPt VI · Ln 12aYes
  • Whistleblower policyPt VI · Ln 13Yes
  • Document retention policyPt VI · Ln 14Yes
  • Top official’s pay independently reviewedPt VI · Ln 15aNo
  • Family or business ties among leadersPt VI · Ln 2No

Mission and programs

What it does.

Funds independent theater artists and groups in New York City.

Provided by the organization

This section is blank until The Lit Fund claims this page.

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Mission & Programs · Part III

Where the work happens

3 program services account for $389K of program spending, described in the organization's 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

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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

Filing history

Every return on file.

YearRevenueExpensesChangeFiling
FY2022 Latest Viewing $80K$489K-95% 990 PDF
FY2021 $1.5M$1.2M+264% 990 PDF
FY2020 $404K$297K 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

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2022IRS
Classification, formation year, addressIRS Business Master File
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