Bitter End Foundation INC

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EIN 83-1855441 Public charity (501(c)(3)) Darien, CT NTEE Q33
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Revenue & expenses by yearFY2020–FY2022
Revenue
$7K
FY2022▼ -38%
Expenses
$54K
FY2022▼ -1%

Form 990 for the fiscal year ending December 2022 (IRS tax year 2022).


Promotes health and well-being in Caribbean coastal communities through charitable activities. For fiscal year 2022 it reported $7K in revenue, $54K in expenses, and $97K in net assets.Pt I

Type
Public charity (501(c)(3)) · International
Location
Darien, CT
Filings
3 on file (2020–2022)
Revenue
$7KFY2022
Expenses
$54K
Net assets
$97K
People
4
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Provided by the organization

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Size
<$100K
What they do
Promotes health and well-being in Caribbean coastal communities through charitable activities.
Leadership
Richard Hokin · President
Money in and out
$7K revenue, $54K expenses
Bottom line
100% program efficiency

What Funders Ask

6 questions, answered from this org's own filings

Will my donation be tax-deductible?

GOOD

Yes — A charitable, religious, educational, scientific, or literary organization. Contributions are generally tax-deductible for donors.

IRS Business Master File records this organization as tax-exempt with deductible contributions. See detail →

Can I donate to this org right now?

GOOD

No revocation on IRS record

This EIN does not appear on the IRS auto-revocation list. See detail →

Is this organization up to date?

WARNING

Last filed FY2022 — 4 yrs ago

Most recent Form 990 on file is for fiscal year 2022 (4 years ago). See detail →

Is it receiving grants from reputable foundations?

GOOD

1 funder — Dave Hokin Foundation

1 distinct foundation funder(s) on file, $200K received in the most recent year with grants. See detail →

How is the money spent?

GOOD

100% to programs

100% of total functional expenses went to program services in the most recent filing (Form 990 Part IX); the rest is overhead and fundraising. See detail →

What's its financial size and trend?

NEUTRAL

<$100K · ↓ -38% vs prior year

Revenue band <$100K, -38% versus the prior filing year (down). See detail →

Where the money goes · FY2022
Total revenue
$7K
Pt VIII · Ln 12
Total expenses
$54K
Pt IX · Ln 25
Net assets
$97K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$47K
Where spending went · Part IX cols B–D
Program services $1.00 Management & general $0.00
Program efficiency
100%
of spending reaches programs▲ +2% vs prior filing year
Operating runway
21.5mo
months of highly liquid reserves at operating expense rate▼ -34% vs prior filing year
Surplus margin
-642%
revenue over expenses, this year▼ -77% vs prior filing year

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Summary of the Filing

Part I · fiscal year 2022 · Form 990
Total assets
$97K
FY2022▼ -35%
Total liabilities
$0
FY2022▼ -100%
Revenue less expensesPt I · Ln 19−$47K
Total assetsPt X · Ln 16$97K
Program-expense ratioPt IX · col B100%
Voting members of governing bodyPt I · Ln 34
Independent voting membersPt I · Ln 44

Identity & Classification

Form 990 Header · IRS Business Master File
Legal name (IRS)Hdr · item CBitter End Foundation INC
EINHdr · item D83-1855441
Principal addressHdr · item CDarien, CT
WebsiteHdr · item Jnone reported
Year of formationHdr · item Lpending
State of legal domicileHdr · item MCT
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFInternational (Q33)
Ruling yearIRS BMFJun 2019

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a4
Independent voting membersPt VI · Ln 1b4
Conflict-of-interest policyPt VI · Ln 12aYes
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
President
$0Pt VII · Sec A
Secretary & Treasurer
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
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Mission & Programs · Part III

Where the work happens

3 program services account for $54K of program spending, described in the organization's own filed words · FY2022.
01

The foundation pledged a donation in the amount of $40,000 to visar (virgin island search and rescuse) to be applied to rescue vessels. Visar's rescue vessels are fully outfitted with the latest medical, vessel safety, search and rescue equipment, and communication devices.

$40Kprogram expense
02

The foundation provided a grant to unite bvi foundation (a british virgin islands non profit organization) to support the work to combat the stony coral tissue loss disease in the british virgin islands.

$12Kprogram expense
03

The bitter end foundation provided the funding for each graduating students e-book.

$2Kprogram expense

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Statement of Revenue

Part VIII
Contributions & grants$7K · 92%
Investment income$552 · 8%
Contributions & grants92%$7K
Investment income8%$552
Total revenueLn 12$7K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $1.00 Management & general $0.00
Program services100%$54K
Management & general$192
Total functional expensesLn 25$54K

Balance Sheet

Part X · end of year
CashLn 1$97K
Total assetsLn 16$97K
Total liabilitiesLn 26$0
Total net assetsLn 32$97K
Months of cash on handcomputed21.5

Financial Metrics

Form 990 · FY2022 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $97K · Operating expenses/yr $54K
21.5 months
Where the money goes
Program services
Program services $54K · Total expenses $54K
100%
Management & General
Management & general $192 · Total expenses $54K
0.4%
Fundraising
Fundraising $0 · Total expenses $54K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $681 · Solicited contributions (3-yr avg) $13K
$0.05 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $7K · Total revenue $7K
92%
Government reliance
Government grants — · Total revenue $7K
—
Earned-income share
Program service revenue $0 · Total revenue $7K
0%
Investment reliance
Investment income $552 · Total revenue $7K
+8%
Program self-sufficiency
Program service revenue $0 · Total expenses $54K
0%
Growth & trend
Revenue growth (YoY)
This year $7K · Prior year $12K
Prior-year revenue below floor — showing dollar change
Net-asset trend (YoY)
End of year $97K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $7K · Expenses $54K
-642%
Liabilities-to-Assets
Total liabilities — · Total assets $97K
—
Net-asset ratio
Net assets $97K · Total assets $97K
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $97K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Richard Hokin · Reported title PRESIDENT · Highest reported compensation $0 · Total expenses $54K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $54K
—
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 100%——
Overhead ratio 0.4%——
Fundraising cost ratio 0%——
Revenue growth -38%——

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 · received and paid
Grants received · FY2019
Total grants receivedfrom 1 funder$200K
Grants paid · 3 grants · $52K · 2020–2020
Falconwood Foundation INCNY · FY2020$32,000
Falconwood Foundation INCNY · FY2020$10,000
Pisces FoundationCA · FY2020$10,000

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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
FY2022 (Latest)$7K revenue · viewing · ⤓ 990 PDF
FY2021$12K revenue · ⤓ 990 PDF
FY2020$23K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2022IRS
Classification, formation year, addressIRS Business Master File
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