The Complex Sag Harbor INC FY2021 filing

Public charity (501(c)(3)) Riverside, CT EIN 85-2656502 NTEE A61
Revenue
$326K
FY2021 · Pt VIII · Ln 12
Expenses
$150K
FY2021 · Pt IX · Ln 25
Net assets
$175K
FY2021 · Pt X · Ln 32
To programs
67%
FY2021 · Pt IX · col B
Revenue & expenses by yearFY2021–FY2024
Revenue
$326K
FY2021
Expenses
$150K
FY2021

Develops real estate to build a theater supporting the local performing arts community.

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Tax-deductible?
Yes
Per the IRS master file. Details →
Can I give now?
No revocation on IRS record
Not on the IRS revocation list. Details →
Filing up to date?
Last filed FY2023 — 3 yrs ago
Foundation funders?
Not on file
Spent on programs?
67% to programs
Form 990 Part IX, latest filing. Details →
Size and trend
<$100K

Form 990 for the fiscal year ending June 2021 (IRS tax year 2020).


Develops real estate to build a theater supporting the local performing arts community.

Type
Public charity (501(c)(3)) · Arts & Culture
Location
Riverside, CT
Filings
4 on file (2021–2021)
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →
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Where the money goes · FY2021
Where spending went · Part IX cols B–D
Program services $0.67 Management & general $0.33
Program efficiency
67%
of spending reaches programs
Operating runway
101.5mo
months of highly liquid reserves at operating expense rate
Surplus margin
+54%
revenue over expenses, this year

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Summary of the Filing

Part I · fiscal year 2021 · Form 990
Total assets
$15.8M
FY2021
Total liabilities
$15.6M
FY2021
Revenue less expensesPt I · Ln 19$175K
Total assetsPt X · Ln 16$15.8M
Program-expense ratioPt IX · col B67%
Voting members of governing bodyPt I · Ln 33
Independent voting membersPt I · Ln 43

Identity & Classification

Form 990 Header · IRS Business Master File
Legal name (IRS)Hdr · item CThe Complex Sag Harbor INC
EINHdr · item D85-2656502
Principal addressHdr · item CRiverside, 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 BMFArts & Culture (A61)
Ruling yearIRS BMFMar 2021

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a3
Independent voting membersPt VI · Ln 1b3
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
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 · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
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Mission & Programs · Part III

Where the work happens

1 program service account for $101K of program spending, described in the organization's own filed words · FY2020.
01

Acquiring real property on the eastern end of Long Island, NY and developing the real property by building a theater on the property to be dedicated to and to support and preserve the performing arts community in the area.

$101Kprogram expense

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Statement of Revenue

Part VIII
Contributions & grants$323K · 99%
Other revenue$3K · 1%
Contributions & grants99%$323K
Other revenue1%$3K
Total revenueLn 12$326K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.67 Management & general $0.33
Program services67%$101K
Management & general33%$49K
Total functional expensesLn 25$150K

Balance Sheet

Part X · end of year
CashLn 1$1.3M
Total assetsLn 16$15.8M
Total liabilitiesLn 26$15.6M
Total net assetsLn 32$175K
Months of cash on handcomputed101.5

Financial Metrics

Form 990 · FY2021 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $1.3M · Operating expenses/yr $150K
101.5 months
Where the money goes
Program services
Program services $101K · Total expenses $150K
67%
Management & General
Management & general $49K · Total expenses $150K
33%
Fundraising
Fundraising $0 · Total expenses $150K
0%
Cost to raise $1
Fundraising expense $0 · Solicited contributions $323K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $323K · Total revenue $326K
99%
Government reliance
Government grants — · Total revenue $326K
—
Earned-income share
Program service revenue $0 · Total revenue $326K
0%
Investment reliance
Investment income $0 · Total revenue $326K
0%
Program self-sufficiency
Program service revenue $0 · Total expenses $150K
0%
Growth & trend
Revenue growth (YoY)
This year $326K · Prior year —
No prior year on file
Net-asset trend (YoY)
End of year $175K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $326K · Expenses $150K
+54%
Liabilities-to-Assets
Total liabilities — · Total assets $15.8M
—
Net-asset ratio
Net assets $175K · Total assets $15.8M
1%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $0 · Other securities (Pt X, ln 12) $0 · Total assets (Pt X, ln 16) $15.8M
0%
People & payroll
Highest Reported Total Compensation
Individual Adam Potter · Reported title President · Highest reported compensation $0 · Total expenses $150K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $29K · Total expenses $150K
19%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 67%——
Overhead ratio 33%——
Fundraising cost ratio 0%——
Investment management fee ratio 0%——
Legal fee ratio 27%——
Accounting fee ratio 0%——
Fundraising fee ratio 0%——

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.

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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)$29 revenue · ⤓ 990 PDF
FY2023$13 revenue · ⤓ 990 PDF
FY2022$50K revenue · ⤓ 990 PDF
FY2021$326K revenue · viewing · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2021IRS
Classification, formation year, addressIRS Business Master File
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