Starfish Accelerator Foundation FY2021 filing

Tax-deductible

Brooklyn, NY501(c)(3)Since 2021Arts & CultureEIN 86-2288129Revenue $676K in FY2021

On file with the IRS65 Roebling St Apt 102, 11211-2183 · Brooklyn, NYTax-exempt since Oct 2021Publicly supported charity — 170(b)(1)(A)(vi)

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The Corporation is formed for charitable purposes including, without limitation, receiving contributions of money and property and using its income and principal assets exclusively for charitable, scientific, literary, and educational purposes in support of BIPOC artists and creatives, either directly or by making gifts, grants and contributions to organizations, including, but not limited to, those that are described in Code Section 501c3.

501(c)(3) charity; gifts are tax-deductible.
65¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2021 · 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 5
filings with a surplus
Average surplus $40K a year · 20% of revenue · last 5 filings
Worth a look: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
65%
of spending
Fine: 65% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
68 mo
of spending, in cash
Looks good: 68.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $50K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
0
of 3 voting members
Concern: none of 3 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$676K
Spent
$101K
To programs
65%
Net assets
$575K
By yearFY2021–FY2025
Revenue
$676K
FY2021
Tap a bar for its year
Revenue by fiscal year
FY2021$676K
FY2022$238K
FY2023$50K
FY2024$0
FY2025$20K
Expenses
$101K
FY2021
Tap a bar for its year
Expenses by fiscal year
FY2021$101K
FY2022$62K
FY2023$113K
FY2024$193K
FY2025$315K
Net assets
$575K
FY2021
Tap a bar for its year
Net assets by fiscal year
FY2021$575K
FY2022$754K
FY2023$700K
FY2024$507K
FY2025$209K

From the FY2021 Form 990 · see the original

Form 990 (PDF) Claim
You’re viewing the FY2021 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 Oct 2021.

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

Where the money goes

65 cents of each dollar spent went to programs.

Program services 65% · $66K Management & general 18% · $18K Fundraising 17% · $17K

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

1 person listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A

Mahyad Movaffaghi-Tousi’s $49K as Director is at the 96th percentile of top reported officer pay among 250 <$100K 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 · 4 named individuals · Part VII

NameFY2025FY2024FY2023FY2022
Mahyad Movaffaghi-Tousi$49,250$23,250$25,000—
Alesia Weston———$22,050
Nina Spensley———$5,975
Mahyad Tousi———$5,000

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.

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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 15aNo

Programs and updates

Supports BIPOC artists and creatives through grants and direct aid.

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Provided by the organization

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1 program · $66K · in their own filed words · FY2021
01

The Corporation is formed for charitable purposes including, without limitation, receiving contributions of money and property and using its income and principal assets exclusively for charitable, scientific, literary, and educational purposes in support of BIPOC artists and creatives, either directly or by making gifts, grants and…

$66Kprogram 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 · FY2023
Total grants receivedfrom 1 funder$50K

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$676K
Ln 12
Gifts and grantsLn 1h$676K
Money outPt IX
$101K
Ln 25
Programscol B$66K
Managementcol C$18K
Fundraisingcol D$17K
Owns and owesPt X
$575K
net assets · Ln 32
Cash and savingsLn 1–2$575K
Total assetsLn 16$575K
LiabilitiesLn 26$0
PeoplePt VI, VII
1
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$676K
Gains on assetsLn 7$0
Total revenueLn 12$676K
Assets in detailPt X, end of year
CashLn 1$575K
SavingsLn 2$0
Cash and savings togetherLn 1–2$575K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$0
Total assetsLn 16$575K
LiabilitiesLn 26$0
Net assetsLn 32$575K
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$575K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$0
Total assetsLn 16$0$575K
LiabilitiesLn 26$0$0
Net assetsLn 32$0$575K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$0
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$0
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$0
Payroll taxesLn 10$0
Management feesLn 11a$0
Legal feesLn 11b$0
Accounting feesLn 11c$2K$2K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$17K$17K
Investment management feesLn 11f$0
Other fees for servicesLn 11g$66K$66K$29
Advertising and promotionLn 12$15K$15K
Office expensesLn 13$502$502
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$0
TravelLn 17$0
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$0
InsuranceLn 23$0
All other expensesLn 24e$0
Total functional expensesLn 25$101K$66K$18K$17K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $20K$315K−$295K$209K 990 PDF
FY2024 $0$193K−$193K$507K 990 PDF
FY2023 $50K$113K−$63K$700K 990 PDF
FY2022 $238K$62K$176K$754K 990 PDF
FY2021 Viewing $676K$101K$575K$575K 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 FY2021 990 (6 parts)
Part I · Summary $675,890 revenue, 12 lines filed
I-8 Contributions and grants$675,890
I-9 Program service revenue$0
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenue$675,890
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$16,900
I-17 Other expenses$84,070
I-18 Total expenses$100,970
I-19 Revenue less expenses$574,920
Part VI · Governance 0 of 3 board members independent, 4 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members0
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $675,890 across 8 lines filed
VIII-1f All other contributions, gifts and grants$675,890
VIII-1h Total contributions, gifts and grants$675,890
VIII-3 Investment income$0
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising events$0
VIII-12 Total revenue$675,890
Part IX · Statement of functional expenses $100,970 across 30 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staff$0
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wages$0
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxes$0
IX-11a Management fees$0
IX-11b Legal fees$0
IX-11c Accounting feesManagement $2,350$2,350
IX-11d Lobbying fees$0
IX-11e Professional fundraising feesFundraising $16,900$16,900
IX-11f Investment management fees$0
IX-11g Other fees for servicesPrograms $65,900 · Management $29$65,929
IX-12 Advertising and promotionManagement $15,289$15,289
IX-13 Office expensesManagement $502$502
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 Occupancy$0
IX-17 Travel$0
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortization$0
IX-23 Insurance$0
IX-24e All other expenses$0
IX-25 Total functional expensesPrograms $65,900 · Management $18,170 · Fundraising $16,900$100,970
Part X · Balance sheet $574,920 assets, 16 lines filed
X-1 Cash, non-interest-bearing$574,920
X-2 Savings and temporary cash investments$0
X-3 Pledges and grants receivable$0
X-4 Accounts receivable$0
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred charges$0
X-10c Land, buildings and equipment, net$0
X-11 Publicly traded securities$0
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assets$0
X-16 Total assetsStart of year $0$574,920
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $0$574,920
X-33 Total liabilities and net assetsStart of year $0$574,920
Part XI · Reconciliation of net assets $574,920 net assets at year end
XI-1 Total revenue$675,890
XI-2 Total expenses$100,970
XI-3 Revenue less expenses$574,920
XI-10 Net assets at end of year$574,920

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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