Philanthropitch FY2020 filing

Austin, TXUnknown exempt organizationEIN 81-1374280Revenue $827K in FY2020

On file with the IRSphilanthropitch.org1023 Springdale Road 1j · Austin, TX

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Helping innovative nonprofits scale sustainable models.

75¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

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 $10K a year · under 1% of revenue · last 3 filings
Fine: a surplus in 2 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
75%
of spending
Fine: 75% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Concern: 0.3 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
10
named funders · $271K
Looks good: 10 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$85K
192% of total assets
Concern: liabilities are 192% of assets; over 80%.
Pt X · Ln 26
Independent board members
10
of 13 voting members
Looks good: 10 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
$827K
Spent
$896K
To programs
75%
Net assets
−$41K
By yearFY2020–FY2022
Revenue
$827K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$827K
FY2021$996K
FY2022$1.5M
Expenses
$896K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$896K
FY2021$992K
FY2022$1.4M
Net assets
−$41K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020−$41K
FY2021−$35K
FY2022$0

From the FY2020 Form 990 · figures checked against the IRS filing · see the original

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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

75 cents of each dollar spent went to programs.

Program services 75% · $669K Management & general 10% · $91K Fundraising 15% · $136K

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

14 people listed on the 990.

Part VII, Section A · reportable compensation
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Philanthropitch 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 15aYes
  • Loans to or from officersSch L · Pt II1 listed

Programs and updates

Hosts a fast-pitch competition that provides innovative nonprofits with funding, mentoring, and a platform to pitch their ideas to judges for cash prizes.

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Provided by the organization

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1 program · $669K · in their own filed words · FY2020
01

Philanthropitch conducts a social impact fast-pitch competition that provides non-profit organizations with access to human and financial capital. In this high energy event, non-profit participants are given a platform to present innovative ideas for dramatically impacting the community.

$669Kprogram 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 · FY2022
See all 10 funders →
Grants paid · 70 grants · $1.5M · 2020–2022
Earn a BikeorgTX · FY2022$59,000
Columbus Fashion InitiativeOH · FY2022$57,665
Beyond the Bars INCPA · FY2022$43,756
Elevate NorthlandOH · FY2022$37,629
Sunrise Community ChurchTX · FY2022$30,606
Woodlawn Theatre INCTX · FY2022$25,100
Lone Star Justice AllianceTX · FY2022$22,500
Besa Community INCOH · FY2022$20,895
PelotonuTX · FY2022$20,000
La Izquierda Fest INCTX · FY2022$19,903
3 Day Startup INCTX · FY2022$16,369
Body Empowerment ProjectNJ · FY2022$15,835
See all 70 grants →

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$827K
Ln 12
Gifts and grantsLn 1h$788K
Fees for servicesLn 2g$39K
Other incomeLn 4–11$413
Money outPt IX
$896K
Ln 25
Programscol B$669K
Managementcol C$91K
Fundraisingcol D$136K
Owns and owesPt X
−$41K
net assets · Ln 32
Cash and savingsLn 1–2$21K
Total assetsLn 16$44K
LiabilitiesLn 26$85K
PeoplePt VI, VII
14
listed · VII A
PaidVII A0
Voting boardVI 1a13
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$788K
Fees for servicesLn 2g$39K
Other incomeLn 4–11$413
Total revenueLn 12$827K
Assets in detailPt X, end of year
CashLn 1$21K
Cash and savings togetherLn 1–2$21K
InvestmentsLn 11–13$3K
Other assetsLn 15$0
Total assetsLn 16$44K
LiabilitiesLn 26$85K
Net assetsLn 32−$41K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$120K$21K
InvestmentsLn 11–13$0$3K
Total assetsLn 16$155K$44K
LiabilitiesLn 26$127K$85K
Net assetsLn 32$28K−$41K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$435K$435K
Pay of current officers, directors and key staffLn 5$42K$19K$4K$19K
Other employee benefitsLn 9$5K$2K$470$2K
Payroll taxesLn 10$3K$2K$344$2K
Management feesLn 11a$335K$158K$77K$101K
Legal feesLn 11b$600$600
Accounting feesLn 11c$2K$1K$575$750
Other fees for servicesLn 11g$1K$482$236$308
Advertising and promotionLn 12$2K$2K
Office expensesLn 13$6K$6K
Information technologyLn 14$338$338
TravelLn 17$3K$3K
InsuranceLn 23$805$805
Other expenses (24a–d)Ln 24$59K$49K$1K$9K
Total functional expensesLn 25$896K$669K$91K$136K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2022 Latest $1.5M$1.4M$36K$0 990 PDF
FY2021 $996K$992K$4K−$35K 990 PDF
FY2020 Viewing $827K$896K−$70K−$41K 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 FY2020 990 (6 parts)
Part I · Summary $826,882 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $490,887$787,654
I-9 Program service revenuePrior year $23,647$38,815
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$413
I-12 Total revenuePrior year $514,534$826,882
I-13 Grants and similar amounts paidPrior year $318,141$435,193
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$50,640
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $248,270$410,602
I-18 Total expensesPrior year $566,411$896,435
I-19 Revenue less expensesPrior year −$51,877−$69,553
Part VI · Governance 10 of 13 board members independent, 2 to look at
VI-1a Voting members of the governing body13
VI-1b Independent voting members10
VI-2 Family or business relationship among officers or directorsYes
VI-14 Document retention and destruction policyNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $826,882 across 5 lines filed
VIII-1f All other contributions, gifts and grants$787,654
VIII-1h Total contributions, gifts and grants$787,654
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $38,815$38,815
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $413$413
VIII-12 Total revenueRelated to mission $39,228 · Unrelated business $0 · Excluded from tax $0$826,882
Part IX · Statement of functional expenses $896,435 across 14 lines filed
IX-1 Grants to domestic organizationsPrograms $435,193$435,193
IX-5 Pay of current officers, directors and key staffPrograms $19,125 · Management $4,250 · Fundraising $19,125$42,500
IX-9 Other employee benefitsPrograms $2,114 · Management $470 · Fundraising $2,114$4,698
IX-10 Payroll taxesPrograms $1,549 · Management $344 · Fundraising $1,549$3,442
IX-11a Management feesPrograms $157,612 · Management $77,128 · Fundraising $100,604$335,344
IX-11b Legal feesManagement $600$600
IX-11c Accounting feesPrograms $1,175 · Management $575 · Fundraising $750$2,500
IX-11g Other fees for servicesPrograms $482 · Management $236 · Fundraising $308$1,026
IX-12 Advertising and promotionFundraising $2,324$2,324
IX-13 Office expensesManagement $5,922$5,922
IX-14 Information technologyFundraising $338$338
IX-17 TravelPrograms $2,831$2,831
IX-23 InsuranceManagement $805$805
IX-24 Other expenses (24a–d)Programs $49,215 · Management $1,092 · Fundraising $8,605$58,912
IX-25 Total functional expensesPrograms $669,296 · Management $91,422 · Fundraising $135,717$896,435
Part X · Balance sheet $44,164 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $119,571$20,778
X-4 Accounts receivableStart of year $25,000$2,500
X-9 Prepaid expenses and deferred chargesStart of year $10,152$17,748
X-11 Publicly traded securitiesStart of year $0$3,138
X-15 Other assetsStart of year $218$0
X-16 Total assetsStart of year $154,941$44,164
X-17 Accounts payable and accrued expensesStart of year $3,940$0
X-19 Deferred revenueStart of year $115,500$85,000
X-25 Other liabilitiesStart of year $7,030$0
X-26 Total liabilitiesStart of year $126,777$85,000
X-32 Total net assets or fund balancesStart of year $28,164−$40,836
X-33 Total liabilities and net assetsStart of year $154,941$44,164
Part XI · Reconciliation of net assets −$40,836 net assets at year end
XI-1 Total revenue$826,882
XI-2 Total expenses$896,435
XI-3 Revenue less expenses−$69,553
XI-4 Net assets at start of year$28,164
XI-5 Net unrealized gains (losses) on investments$553
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$40,836

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

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