Bit Community Center INC EIN 52-2169101 Form 990 (PDF) Claim this org

Bit Community Center INC

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Empowers families through arts, affordable food access, education, and job training for a healthier, wealthier Baltimore. For fiscal year 2024 it reported $276K in revenue, $278K in expenses, and $46K in net assets.Pt I

Type
Public charity (501(c)(3)) · Arts & Culture
Location
Baltimore, MD
Website
www.italymd.org
Filings
5 on file (2020–2024)
Revenue
$276KFY2024
Expenses
$278K
Net assets
$46K
People
10
Filings
5
Updates
0
More identity details & actions ⌄
EIN  52-2169101 Public charity (501(c)(3)) Baltimore, MD
Form 990 (PDF)
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Size
$100K–1M
What they do
Empowers families through arts, affordable food access, education, and job training for a healthier, wealthier Baltimore.
Leadership
Monica E Lapenta · Executive Director & CEO · $65K
Money in and out
$276K revenue, $278K expenses
Bottom line
90% program efficiency
Where the money goes · FY2024
Total revenue
$276K
Pt VIII · Ln 12
Total expenses
$278K
Pt IX · Ln 25
Net assets
$46K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$2K
Where spending went · Part IX cols B–D
Program services $0.90 Management & general $0.06 Fundraising $0.04
Program efficiency
90%
of spending reaches programs+0.06% vs prior filing year
Operating runway
2.8mo
months of highly liquid reserves at operating expense rate▼ -28% vs prior filing year
Surplus margin
-0.8%
revenue over expenses, this year▲ +99% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$276K
FY2024▲ +90%
Expenses
$278K
FY2024▲ +11%
Total assets
$91K
FY2024▲ +4%
Total liabilities
$45K
FY2024▲ +11%
Total revenue
$276K
Pt VIII · Ln 12
Total expenses
$278K
Pt IX · Ln 25
Net assets
$46K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$2K
Total assetsPt X · Ln 16$91K
Program-expense ratioPt IX · col B90%
Voting members of governing bodyPt I · Ln 39
Independent voting membersPt I · Ln 48
Mission & Programs · Part III

Where the work happens

3 program services account for $2K of program spending, described in the organization's own filed words · FY2024.
01

Be a chef for a daybe a chef for a day gastronomy program - through our award-winning gastronomy program, children master the skill and science of cooking while gaining knowledge about healthy nutrition, cooking skills and grocery shopping on a budget.

$2Kprogram expense
02

Bit Community Art Program

Since 1955 the center has promoted the creative spirit and artistic traditions of italians through art exhibits, seminars, concerts, lectures, and the leonardo da vinci bridge engineering competition.

Pt IX · col B
03

B-More Pasta

Discover success with our youth workforce program! Geared towards ages 14-24, it equips them to excel in pasta-making business. They gain expertise in all areas, from crafting vegan pasta to social media marketing. Empowering the next generation for triumph!

Pt IX · col B

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CBit Community Center INC
EINHdr · item D52-2169101
Principal addressHdr · item CBaltimore, MD
WebsiteHdr · item Jwww.italymd.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MMD
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFArts & Culture (A230)
Ruling yearIRS BMFOct 1999

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a9
Independent voting membersPt VI · Ln 1b8
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 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Executive Director & CEO
$65,360Pt VII · Sec A
Community Programs Coordinator
$30,340Pt VII · Sec A
Board Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Monica E Lapenta’s $65K as Executive Director & CEO is at the 60th percentile of top reported officer pay among 2213 $100K–1M arts & culture 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 · 3 named individuals · Part VII

NameFY2024FY2023FY2021FY2020
Monica Lapenta$86,544$55,469
Monica E Lapenta$65,360$66,800
Jamera B Lewis Hawkins$30,340

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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Statement of Revenue

Part VIII
Program service revenue$266K · 96%
Other revenue$10K · 4%
Program service revenue96%$266K
Other revenue4%$10K
Total revenueLn 12$276K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.90 Management & general $0.06 Fundraising $0.04
Program services90%$251K
Management & general6%$16K
Fundraising4%$11K
Total functional expensesLn 25$278K

Balance Sheet

Part X · end of year
CashLn 1$64K
Total assetsLn 16$91K
Total liabilitiesLn 26$45K
Total net assetsLn 32$46K
Months of cash on handcomputed2.8

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $64K · Operating expenses/yr $278K
2.8 months
Where the money goes
Program services
Program services $251K · Total expenses $278K
90%
Management & General
Management & general $16K · Total expenses $278K
6%
Fundraising
Fundraising $11K · Total expenses $278K
4%
Cost to raise $1
Fundraising expense (3-yr avg) $6K · Solicited contributions (3-yr avg) $59K
$0.10 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $0 · Total revenue $276K
0%
Government reliance
Government grants — · Total revenue $276K
Earned-income share
Program service revenue $266K · Total revenue $276K
96%
Investment reliance
Investment income $0 · Total revenue $276K
0%
Program self-sufficiency
Program service revenue $266K · Total expenses $278K
96%
Growth & trend
Revenue growth (YoY)
This year $276K · Prior year $145K
+90%
Revenue CAGR
FY2020 $327K · FY2024 $276K
-4%
Net-asset trend (YoY)
End of year $46K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $276K · Expenses $278K
-0.8%
Liabilities-to-Assets
Total liabilities — · Total assets $91K
Net-asset ratio
Net assets $46K · Total assets $91K
51%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $91K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Monica E Lapenta · Reported title EXECUTIVE DIRECTOR & CEO · Highest reported compensation $65K · Total expenses $278K
23%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $130K · Total expenses $278K
47%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 90%
Overhead ratio 6%
Revenue growth 90%

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 · FY2024
Total grants receivedfrom 1 funder$10K

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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
FY2024 (Latest)$276K revenue · viewing · ⤓ 990 PDF
FY2023$145K revenue · ⤓ 990 PDF
FY2022$391K revenue · ⤓ 990 PDF
FY2021$454K revenue · ⤓ 990 PDF
FY2020$327K 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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