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The Lit Fund FY2020 filing

Astoria, NYUnknown exempt organization EIN 46-1141592Revenue $404K in FY2020

On file with the IRS4815 28th Avenue · Astoria, NY

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

92¢ of each $1 spent went to programs.
$16K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

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FY2020 · 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
92%
of spending
Looks good: 92% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$16K
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
4 mo
of spending, in cash
Looks good: 3.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $45
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$3K
2% of total assets
Looks good: liabilities are 2% of assets; 50% or less.
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
$404K
Spent
$297K
To programs
92%
Net assets
$150K
By yearFY2020–FY2022
Revenue
$404K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$404K
FY2021$1.5M
FY2022$80K
Expenses
$297K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$297K
FY2021$1.2M
FY2022$489K
Net assets
$150K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$150K
FY2021$397K
FY2022$0

From the FY2020 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2022) →

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

92 cents of each dollar spent went to programs.

Program services 92% · $273K Management & general 7% · $20K Fundraising 1% · $3K

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; $16K paid to officers and key staff.

Part VII, Section A · reportable compensation
Randi Berry
Executive Director
$16,000Pt VII · Sec A
$0Pt VII · Sec A
Marty Linsky
Board Member
$0Pt VII · Sec A
Brian Berk
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
Dechelle Damien
Board Member
$0Pt VII · Sec A
Brea Clemons
Board Member
$0Pt VII · Sec A
Wessam Badawi
Board Member
$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.

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Provided by the organization

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3 programs · $273K · in their own filed words · FY2020
01

Emergency grants offered to individuals and theater companiesin NYC.

$246Kprogram expense
02

Other expenses incurred by program

$17Kprogram expense
03

Community grants offered to theater companies in NYC.

$10Kprogram 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 · FY2023
Amazonsmile FoundationFY2023$45
Total grants receivedfrom 1 funder$45

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$404K
Ln 12
Gifts and grantsLn 1h$400K
Other incomeLn 4–11$4K
Money outPt IX
$297K
Ln 25
Programscol B$273K
Managementcol C$20K
Fundraisingcol D$3K
Owns and owesPt X
$150K
net assets · Ln 32
Cash and savingsLn 1–2$93K
Total assetsLn 16$153K
LiabilitiesLn 26$3K
PeoplePt VI, VII
8
listed · VII A
PaidVII A1
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$400K
Other incomeLn 4–11$4K
Total revenueLn 12$404K
Assets in detailPt X, end of year
CashLn 1$93K
Cash and savings togetherLn 1–2$93K
Other assetsLn 15$4K
Total assetsLn 16$153K
LiabilitiesLn 26$3K
Net assetsLn 32$150K
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 FY20End FY20
Cash and savingsLn 1–2$37K$93K
Total assetsLn 16$43K$153K
LiabilitiesLn 26$0$3K
Net assetsLn 32$43K$150K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$70K$70K
Grants to domestic individualsLn 2$186K$186K
Accounting feesLn 11c$3K$0$3K$0
Professional fundraising feesLn 11e$2K$2K
Advertising and promotionLn 12$132$132$0$0
Office expensesLn 13$389$201$188$0
InsuranceLn 23$876$876$0$0
Other expenses (24a–d)Ln 24$34K$16K$16K$1K
All other expensesLn 24e$993$0$993$0
Total functional expensesLn 25$297K$273K$20K$3K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2022 Latest $80K$489K−$409K$0 990 PDF
FY2021 $1.5M$1.2M$247K$397K 990 PDF
FY2020 Viewing $404K$297K$108K$150K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $404,288 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $45,040$400,258
I-9 Program service revenue$0
I-10 Investment income$0
I-11 Other revenue$4,030
I-12 Total revenuePrior year $45,040$404,288
I-13 Grants and similar amounts paid$255,988
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$1,500
I-17 Other expenses$39,084
I-18 Total expenses$296,572
I-19 Revenue less expensesPrior year $45,040$107,716
Part VI · Governance 7 of 7 board members independent, 1 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
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 $404,288 across 3 lines filed
Lines not itemized here account for $4,030 of total revenue; see the IRS return.
VIII-1f All other contributions, gifts and grants$400,258
VIII-1h Total contributions, gifts and grants$400,258
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$404,288
Part IX · Statement of functional expenses $296,572 across 9 lines filed
IX-1 Grants to domestic organizationsPrograms $70,000$70,000
IX-2 Grants to domestic individualsPrograms $185,988$185,988
IX-11c Accounting feesPrograms $0 · Management $3,000 · Fundraising $0$3,000
IX-11e Professional fundraising feesFundraising $1,500$1,500
IX-12 Advertising and promotionPrograms $132 · Management $0 · Fundraising $0$132
IX-13 Office expensesPrograms $201 · Management $188 · Fundraising $0$389
IX-23 InsurancePrograms $876 · Management $0 · Fundraising $0$876
IX-24 Other expenses (24a–d)Programs $16,240 · Management $16,228 · Fundraising $1,226$33,694
IX-24e All other expensesPrograms $0 · Management $993 · Fundraising $0$993
IX-25 Total functional expensesPrograms $273,437 · Management $20,409 · Fundraising $2,726$296,572
Part X · Balance sheet $153,146 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $36,885$92,875
X-3 Pledges and grants receivableStart of year $2,076$56,521
X-15 Other assetsStart of year $3,619$3,750
X-16 Total assetsStart of year $42,580$153,146
X-17 Accounts payable and accrued expensesStart of year $0$170
X-19 Deferred revenueStart of year $0$2,680
X-26 Total liabilitiesStart of year $0$2,850
X-27 Net assets without donor restrictionsStart of year $22,791$147,156
X-28 Net assets with donor restrictionsStart of year $19,789$3,140
X-32 Total net assets or fund balancesStart of year $42,580$150,296
X-33 Total liabilities and net assetsStart of year $42,580$153,146
Part XI · Reconciliation of net assets $150,296 net assets at year end
XI-1 Total revenue$404,288
XI-2 Total expenses$296,572
XI-3 Revenue less expenses$107,716
XI-4 Net assets at start of year$42,580
XI-10 Net assets at end of year$150,296

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

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