Bittersweet Foundation FY2024 filing

EIN 46-1502118 Public charity (501(c)(3)) Washington, DC NTEE A33
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Revenue & expenses by yearFY2020–FY2025
Revenue
$204K
FY2024▲ +305%
Expenses
$153K
FY2024

Form 990 for the fiscal year ending December 2024 (IRS tax year 2024).


Publishes media and hosts events to educate on hope and social issues. For fiscal year 2024 it reported $204K in revenue, $153K in expenses, and $82K in net assets.Pt I

Type
Public charity (501(c)(3)) · Arts & Culture
Location
Washington, DC
Website
bittersweetmonthly.com
Filings
6 on file (2020–2024)
Revenue
$204KFY2024
Expenses
$153K
Net assets
$82K
People
5
You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →
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Provided by the organization

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Size
$100K–1M
What they do
Publishes media and hosts events to educate on hope and social issues.
Leadership
Katherine Schmidgall · President
Money in and out
$204K revenue, $153K expenses
Bottom line
90% program efficiency

What Funders Ask

From IRS filings

Tax-deductible?

good Yes

Per the IRS master file. Details →

Can I give now?

good No revocation on IRS record

Not on the IRS revocation list. Details →

Filing up to date?

good Yes — filed FY2025

Details →

Foundation funders?

good 1 funder — Fidelity Investments Charitable Gift Fund

$166K in the latest grant year. Details →

Spent on programs?

good 90% to programs

Form 990 Part IX, latest filing. Details →

Size and trend

$100K–1M

↑ +305% vs prior year Details →

Where the money goes · FY2024
Total revenue
$204K
Pt VIII · Ln 12
Total expenses
$153K
Pt IX · Ln 25
Net assets
$82K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $50K
Where spending went · Part IX cols B–D
Program services $0.90 Management & general $0.10
Program efficiency
90%
of spending reaches programs
Operating runway
6.5mo
months of highly liquid reserves at operating expense rate
Surplus margin
+25%
revenue over expenses, this year

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Summary of the Filing

Part I · fiscal year 2024 · Form 990
Total assets
$83K
FY2024
Total liabilities
$1K
FY2024
Revenue less expensesPt I · Ln 19$50K
Total assetsPt X · Ln 16$83K
Program-expense ratioPt IX · col B90%
Voting members of governing bodyPt I · Ln 35
Independent voting membersPt I · Ln 45

Identity & Classification

Form 990 Header · IRS Business Master File
Legal name (IRS)Hdr · item CBittersweet Foundation
EINHdr · item D46-1502118
Principal addressHdr · item CWashington, DC
WebsiteHdr · item Jbittersweetmonthly.com
Year of formationHdr · item Lpending
State of legal domicileHdr · item MDC
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFArts & Culture (A33)
Ruling yearIRS BMFJul 2013

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a5
Independent voting membersPt VI · Ln 1b5
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2Yes

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
See Bittersweet Foundation executive salaries →

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Mission & Programs · Part III

Where the work happens

1 program service account for $137K of program spending, described in the organization's own filed words · FY2024.
01

Bittersweet assembles and coordinates volunteer writers, photographers, and filmmakers to produce long-form feature stories documenting inspiring work caring for the vulnerable, the poor, and the marginalized globally.

$137Kprogram expense

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Statement of Revenue

Part VIII
Contributions & grants101%$206K
Investment income$62
Total revenueLn 12$204K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.90 Management & general $0.10
Program services90%$137K
Management & general10%$16K
Total functional expensesLn 25$153K

Balance Sheet

Part X · end of year
CashLn 1$83K
Total assetsLn 16$83K
Total liabilitiesLn 26$1K
Total net assetsLn 32$82K
Months of cash on handcomputed6.5

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $83K · Operating expenses/yr $153K
6.5 months
Where the money goes
Program services
Program services $137K · Total expenses $153K
90%
Management & General
Management & general $16K · Total expenses $153K
10%
Fundraising
Fundraising $0 · Total expenses $153K
0%
Cost to raise $1
Fundraising expense $0 · Solicited contributions $206K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $206K · Total revenue $204K
101%
Government reliance
Government grants — · Total revenue $204K
—
Earned-income share
Program service revenue $0 · Total revenue $204K
0%
Investment reliance
Investment income $62 · Total revenue $204K
+0.03%
Program self-sufficiency
Program service revenue $0 · Total expenses $153K
0%
Growth & trend
Revenue growth (YoY)
This year $204K · Prior year $50K
+305%
Revenue CAGR
FY2020 $91K · FY2024 $204K
+22%
Net-asset trend (YoY)
End of year $82K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $204K · Expenses $153K
+25%
Liabilities-to-Assets
Total liabilities — · Total assets $83K
—
Net-asset ratio
Net assets $82K · Total assets $83K
99%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $83K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Katherine Schmidgall · Reported title PRESIDENT · Highest reported compensation $0 · Total expenses $153K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $153K
—
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 90%——
Overhead ratio 10%——
Fundraising cost ratio 0%——
Revenue growth 305%——
Accounting fee ratio 4%——

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 · FY2022
Total grants receivedfrom 1 funder$166K

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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)$165K revenue · ⤓ 990 PDF
FY2024$204K revenue · viewing · ⤓ 990 PDF
FY2023$50K revenue · ⤓ 990 PDF
FY2022$176K revenue · ⤓ 990 PDF
FY2021$56K revenue · ⤓ 990 PDF
FY2020$91K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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