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Two Bit Circus Foundation FY2022 filing

Tax-deductible

Los Angeles, CA501(c)(3)Education EIN 56-2464067Revenue $1.5M in FY2022

On file with the IRS6065 S Western Ave, 90047-1435 · Los Angeles, CATax-exempt since Aug 2006Publicly supported — 509(a)(2)

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The organizationn serves children in all economic situations by creating learning experiences to inspire entrepeneurship, encourage young inventors and instill enviromental stewardship.

501(c)(3) charity; gifts are tax-deductible.
79¢ of each $1 spent went to programs.
$294K 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

FY2022 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 4
filings with a surplus
Average deficit $255K a year · 16% of revenue · last 4 filings
Worth a look: a surplus in 2 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
79%
of spending
Looks good: 79% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$294K
to officers and key staff · 17% of spending
Fine: pay to officers and key staff is 17% of spending; 15% to 20%.
Pt VII · Sec A
Cash reserves
2 mo
of spending, in cash
Fine: 2.2 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
4
named funders · $155K
Looks good: 4 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$37K
6% of total assets
Looks good: liabilities are 6% of assets; 50% or less.
Pt X · Ln 26
Independent board members
13
of 13 voting members
Looks good: 13 of 13 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.5M
-10% vs prior year
Spent
$1.8M
To programs
79%
Net assets
$556K
By yearFY2021–FY2025
Revenue
$1.5M
FY2022▼ -10%
Tap a bar for its year
Revenue by fiscal year
FY2021$1.7M
FY2022$1.5M
FY2023$2.2M
FY2023$3.0M
FY2025$885K
Expenses
$1.8M
FY2022▲ +8%
Tap a bar for its year
Expenses by fiscal year
FY2021$1.6M
FY2022$1.8M
FY2023$1.4M
FY2023$1.9M
FY2025$2.5M
Net assets
$556K
FY2022▼ -29%
Tap a bar for its year
Net assets by fiscal year
FY2021$782K
FY2022$556K
FY2023$1.3M
FY2023$2.5M
FY2025$831K

From the FY2022 Form 990 (year ending June 2022) · figures checked against the IRS filing · see the original

990 PDF Claim
You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Aug 2006.

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

Where the money goes

79 cents of each dollar spent went to programs.

Program services 79% · $1.4M Management & general 18% · $318K Fundraising 2% · $43K

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

26 people listed on the 990; $294K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
$147,000Pt VII · Sec A
$147,000Pt VII · Sec A
Dave Zobel
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Malik Ducard
President
$0Pt VII · Sec A

Leah Hanes’s $147K as CEO is at the 95th percentile of top reported officer pay among 1613 $100K–1M education 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 · 1 named individual · Part VII

NameFY2022FY2021
Leah Hanes$147,000$146,000

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 Two Bit Circus Foundation 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 15aYes

Programs and updates

Inspires entrepreneurship, invention, and environmental stewardship in children through engaging learning experiences.

Questions for Two Bit Circus Foundation

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Provided by the organization

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2 programs · $2.8M · in their own filed words · FY2021
01

Minimizes environmental waste and maximizes innovative classroom education by capturing manufacturers' over-runs and clean discards headed to landfills and redirecting them to teachers for hands-on learning.

$1.4Mprogram expense
02

Minimizes environmental waste and maximizes innovative classroom education by capturing manufacturers' over-runs and clean discards headed to landfills and redirecting them to teachers for hands-on learning.

$1.4Mprogram 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 · FY2024
Fidelity Investments Charitable Gift FundFY2024$62K
Donor Advised Charitable Giving INCFY2024$50K
Community PartnersFY2024$33K
Infosys Foundation USAFY2024$10K
Total grants receivedfrom 4 funders$155K
See all 4 funders →

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.5M
Ln 12
Gifts and grantsLn 1h$1.5M
Investment incomeLn 3$33
Money outPt IX
$1.8M
Ln 25
Programscol B$1.4M
Managementcol C$318K
Fundraisingcol D$43K
Owns and owesPt X
$556K
net assets · Ln 32
Cash and savingsLn 1–2$321K
Total assetsLn 16$594K
LiabilitiesLn 26$37K
PeoplePt VI, VII
26
listed · VII A
PaidVII A2
Voting boardVI 1a13
IndependentVI 1b13
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.5M
Government grantsLn 1e$25K
Investment incomeLn 3$33
Total revenueLn 12$1.5M
Assets in detailPt X, end of year
Cash and savings togetherLn 1–2$321K
Total assetsLn 16$594K
LiabilitiesLn 26$37K
Net assetsLn 32$556K
OperationsPt I, VI
EmployeesI 549
VolunteersI 6175
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14No

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $885K$2.5M−$1.6M$831K 990 PDF
FY2024 Not on file
FY2023 $2.2M$1.4M$768K$1.3M 990 PDF
FY2022 Viewing $1.5M$1.8M−$226K$556K 990 PDF
FY2021 $1.7M$1.6M$82K$782K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons A · Public support O · Explanations
See the full FY2022 990 (1 part)
Part VI · Governance 13 of 13 board members independent, 1 to look at
VI-1a Voting members of the governing body13
VI-1b Independent voting members13
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-15a Process for setting top official's payYes

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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