Epic Foundation INC FY2021 filing

Tax-deductible

New York, NY501(c)(3)InternationalEIN 47-1191096Revenue $1.7M in FY2021

On file with the IRSepic.foundationCo Blisce 1 Union Square West 70, 10003-0000 · New York, NYTax-exempt since Mar 2015Publicly supported charity — 170(b)(1)(A)(vi)

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To support domestic and foreign charitable organizations focused on child and youth welfare.

501(c)(3) charity; gifts are tax-deductible.
72¢ of each $1 spent went to programs.
$250K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 5
filings with a surplus
Average deficit $312K a year · 32% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
72%
of spending
Fine: 72% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$250K
to officers and key staff · 20% of spending
Fine: pay to officers and key staff is 20% of spending; 15% to 20%.
Pt VII · Sec A
Cash reserves
9 mo
of spending, in cash
Looks good: 9.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $50K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$39K
4% of total assets
Looks good: liabilities are 4% of assets; 50% or less.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.7M
+47% vs prior year
Spent
$1.2M
To programs
72%
Net assets
$892K
By yearFY2020–FY2024
Revenue
$1.7M
FY2021▲ +47%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.2M
FY2021$1.7M
FY2022$948K
FY2023$774K
FY2024$299K
Expenses
$1.2M
FY2021▼ -50%
Tap a bar for its year
Expenses by fiscal year
FY2020$2.5M
FY2021$1.2M
FY2022$1.5M
FY2023$822K
FY2024$507K
Net assets
$892K
FY2021▲ +124%
Tap a bar for its year
Net assets by fiscal year
FY2020$398K
FY2021$892K
FY2022$379K
FY2023$332K
FY2024$76K

From the FY2021 Form 990 · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Mar 2015.

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

Where the money goes

72 cents of each dollar spent went to programs.

Program services 72% · $891K Management & general 13% · $155K Fundraising 15% · $190K

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

5 people listed on the 990; $250K paid to officers and key staff.

Part VII, Section A · reportable compensation
Head of Development
$130,000Pt VII · Sec A
Chief Programs Officer
$120,000Pt VII · Sec A
President & CEO
$0Pt VII · Sec A
Secretary, Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A

Kathleen Morgan Riordan’s $128K as Chief Program Officer Thru 09/18/23 is at the 91st percentile of top reported officer pay among 1637 $100K–1M international 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 · 2 named individuals · Part VII

NameFY2023FY2022FY2021FY2020
Jennifer Xu—$125,277$130,000$129,619
Kathleen Morgan Riordan$127,922$128,800$120,000$120,000

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 Epic Foundation INC 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Funds charities helping children and youth worldwide.

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Provided by the organization

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3 programs · $868K · in their own filed words · FY2021
01

Grantmaking

Funding for charitable programs. The foundation provides charitable contributions to organizations that have received accreditation from the foundation. Any fundraising that occurs related to such charitable funding is conducted by the epic foundation on behalf of the charitable organizations.

$690Kprogram expense
02

Monitoring and evaluation the foundation provides ongoing monitoring and evaluation of social programs focused on youth welfare and provides detailed feedback to them regarding how their programs are improving social outcomes for their beneficiaries.

$117Kprogram expense
03

Accreditation

Epic foundation analyzes and validates the social impact, financial sustainability, operational efficiency and management quality of social organizations focused on youth welfare.

$61Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 1 funder$50K
Grants paid · 20 grants · $1.8M · 2020–2024
The Jed FoundationNY · FY2024$61,001
Common JusticeNY · FY2024$45,000
Strongminds INCNJ · FY2024$30,000
Lwala Community Alliance INCTN · FY2024$20,000
Kidogo Early Years INCIN · FY2024$20,000
Strongminds INCNJ · FY2023$90,000
Common JusticeNY · FY2023$10,000
Common JusticeNY · FY2022$270,000
Commonlit INCDC · FY2022$113,600
The Jed FoundationNY · FY2022$102,500
Strongminds INCNJ · FY2022$10,000
Commonlit INCDC · FY2021$150,000
The Jed FoundationNY · FY2021$100,000
Pivotal ConnectionsCA · FY2021$100,000
The Jed FoundationNY · FY2020$112,500
Lawyers for Children INCNY · FY2020$100,000
See all 20 grants →

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$1.7M
Ln 12
Gifts and grantsLn 1h$1.7M
Money outPt IX
$1.2M
Ln 25
Programscol B$891K
Managementcol C$155K
Fundraisingcol D$190K
Owns and owesPt X
$892K
net assets · Ln 32
Cash and savingsLn 1–2$932K
Total assetsLn 16$932K
LiabilitiesLn 26$39K
PeoplePt VI, VII
5
listed · VII A
PaidVII A2
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.7M
Noncash giftsLn 1g$306K
Total revenueLn 12$1.7M
Assets in detailPt X, end of year
CashLn 1$830K
SavingsLn 2$102K
Cash and savings togetherLn 1–2$932K
Total assetsLn 16$932K
LiabilitiesLn 26$39K
Net assetsLn 32$892K
OperationsPt I, VI
EmployeesI 55
VolunteersI 65
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 FY21End FY21
Cash and savingsLn 1–2$446K$932K
Total assetsLn 16$446K$932K
LiabilitiesLn 26$48K$39K
Net assetsLn 32$398K$892K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$488K$488K
Grants and assistance to foreign recipientsLn 3$188K$188K
Other salaries and wagesLn 7$337K$166K$33K$138K
Other employee benefitsLn 9$16K$8K$2K$6K
Payroll taxesLn 10$29K$14K$3K$12K
Legal feesLn 11b$400$400
Accounting feesLn 11c$79K$79K
Other fees for servicesLn 11g$52K$15K$24K$13K
Advertising and promotionLn 12$280$280
Office expensesLn 13$13K$4K$6K$3K
Information technologyLn 14$18K$6K$7K$5K
OccupancyLn 16$5K$2K$600$2K
TravelLn 17$5K$555$5K
Conferences, conventions and meetingsLn 19$6K$6K
Other expenses (24a–d)Ln 24$149$149
Total functional expensesLn 25$1.2M$891K$155K$190K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $299K$507K−$208K$76K 990 PDF
FY2023 $774K$822K−$47K$332K 990 PDF
FY2022 $948K$1.5M−$513K$379K 990 PDF
FY2021 Viewing $1.7M$1.2M$494K$892K 990 PDF
FY2020 $1.2M$2.5M−$1.3M$398K 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 FY2021 990 (6 parts)
Part I · Summary $1,731,064 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,169,197$1,731,064
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $5,048$0
I-12 Total revenuePrior year $1,174,245$1,731,064
I-13 Grants and similar amounts paidPrior year $1,719,503$676,682
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $436,133$381,092
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $304,915$179,243
I-18 Total expensesPrior year $2,460,551$1,237,017
I-19 Revenue less expensesPrior year −$1,286,306$494,047
Part VI · Governance 3 of 3 board members independent, 2 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members3
VI-2 Family or business relationship among officers or directorsYes
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $1,731,064 across 4 lines filed
VIII-1f All other contributions, gifts and grants$1,731,064
VIII-1g Noncash contributions (included above)$306,478
VIII-1h Total contributions, gifts and grants$1,731,064
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$1,731,064
Part IX · Statement of functional expenses $1,237,017 across 15 lines filed
IX-1 Grants to domestic organizationsPrograms $488,200$488,200
IX-3 Grants and assistance to foreign recipientsPrograms $188,482$188,482
IX-7 Other salaries and wagesPrograms $165,718 · Management $33,245 · Fundraising $137,800$336,763
IX-9 Other employee benefitsPrograms $7,839 · Management $1,617 · Fundraising $6,243$15,699
IX-10 Payroll taxesPrograms $14,195 · Management $2,857 · Fundraising $11,578$28,630
IX-11b Legal feesManagement $400$400
IX-11c Accounting feesManagement $79,276$79,276
IX-11g Other fees for servicesPrograms $14,924 · Management $24,333 · Fundraising $13,241$52,498
IX-12 Advertising and promotionFundraising $280$280
IX-13 Office expensesPrograms $3,694 · Management $5,808 · Fundraising $3,134$12,636
IX-14 Information technologyPrograms $5,836 · Management $7,083 · Fundraising $4,695$17,614
IX-16 OccupancyPrograms $1,800 · Management $600 · Fundraising $2,400$4,800
IX-17 TravelPrograms $555 · Fundraising $4,846$5,401
IX-19 Conferences, conventions and meetingsFundraising $6,189$6,189
IX-24 Other expenses (24a–d)Management $149$149
IX-25 Total functional expensesPrograms $891,243 · Management $155,368 · Fundraising $190,406$1,237,017
Part X · Balance sheet $931,848 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $445,986$830,121
X-2 Savings and temporary cash investmentsStart of year $0$101,727
X-16 Total assetsStart of year $445,986$931,848
X-17 Accounts payable and accrued expensesStart of year $47,544$39,359
X-26 Total liabilitiesStart of year $47,544$39,359
X-27 Net assets without donor restrictionsStart of year $155,615$295,279
X-28 Net assets with donor restrictionsStart of year $242,827$597,210
X-32 Total net assets or fund balancesStart of year $398,442$892,489
X-33 Total liabilities and net assetsStart of year $445,986$931,848
Part XI · Reconciliation of net assets $892,489 net assets at year end
XI-1 Total revenue$1,731,064
XI-2 Total expenses$1,237,017
XI-3 Revenue less expenses$494,047
XI-4 Net assets at start of year$398,442
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$892,489

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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