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Paperhand Puppet Project FY2024 filing

Tax-deductible

Graham, NC501(c)(3)Since 2023EducationEIN 92-3110199

Education mission to create art through puppetry that inspires connection to diverse communities of all socioeconomic backgrounds to encourage creativity and collaboration.

501(c)(3) charity; gifts are tax-deductible.
90¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
Is it a real charity?
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
Are gifts tax-deductible?
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Is it filing on time?
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 years looks good.
IRS e-file · Filing history
Is it financially stable?
3 of 3
years in the black
Looks good: no deficit in the last 3 filings.
Pt I · Ln 19 · 3 filings
How much reaches the programs?
90%
of spending
Looks good: 90% of spending went to programs; 75% or more looks good.
Pt IX · Ln 25 · col B
Do they have reserves?
4 mo
of spending, in cash
Looks good: 3.8 months of spending in cash; 3 or more looks good.
Pt X · Ln 1–2 · Pt I · Ln 18
Who is supporting them already?
4
named funders · $66K
Looks good: 4 funders name it on their filings; 3 or more looks good.
Funders’ Sch. I, 990-PF
Do they carry debt?
$0
liabilities
Looks good: debts are 0% of assets; 50% or less looks good.
Pt X · Ln 26
Who oversees it?
0
independent of 4 voting board members
Concern: none of 4 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodWorth a lookConcernTap a box for the reason.
Revenue
$617K
+33% vs prior year
Spent
$525K
To programs
90%
Net assets
$166K
By yearFY2023–FY2025
Revenue
$617K
FY2024▲ +33%
Revenue by fiscal year
FY2023$464K
FY2024$617K
FY2025$879K
Expenses
$525K
FY2024▲ +35%
Expenses by fiscal year
FY2023$390K
FY2024$525K
FY2025$720K
Net assets
$166K
FY2024▲ +124%
Net assets by fiscal year
FY2023$74K
FY2024$166K
FY2025$326K

From the FY2024 Form 990 · see the original

Form 990 (PDF) Claim
You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Status and standing

Is it real, and can you give to it?

Tax-deductible?
Yes
Per the IRS master file.
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Yes — filed FY2025
Legal name (IRS)Hdr · item CPaperhand Puppet Project
EINHdr · item D92-3110199
Exempt statusHdr · item I501(c)(3) · active
Ruling yearIRS BMFFeb 2024
Year of formationHdr · item L2023
Latest filingForm 990FY2025 · Form 990
Principal addressHdr · item CGraham, NC
NTEE classificationIRS BMFEducation (B99)

Where the money goes

What each dollar paid for.

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.90 Management & general $0.10
Program services90%$472K
Management & general10%$53K
Total functional expensesLn 25$525K

Financial health

Is it on solid ground?

Program efficiency
90%
of spending reaches programs
Operating runway
3.8mo
months of highly liquid reserves at operating expense rate
Surplus margin
+15%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Total assets
$166K
FY2024▲ +116%
Total assets by fiscal year
FY2023$77K
FY2024$166K
FY2025$326K
Total liabilities
$0
FY2024▼ -100%
Total liabilities by fiscal year
FY2023$3K
FY2024$0
FY2025$135
Revenue less expensesPt I · Ln 19$92K
Total assetsPt X · Ln 16$166K
Program-expense ratioPt IX · col B90%
Voting members of governing bodyPt I · Ln 34
Independent voting membersPt I · Ln 4pending

Balance Sheet

Part X · end of year
CashLn 1$166K
Total assetsLn 16$166K
Total liabilitiesLn 26$0
Total net assetsLn 32$166K
Months of cash on handcomputed3.8

Statement of Revenue

Part VIII
Program service revenue$417K · 68%
Contributions & grants$199K · 32%
Program service revenue68%$417K
Contributions & grants32%$199K
Investment income$769
— government grantsLn 1e$15K
Total revenueLn 12$617K

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $166K · Operating expenses/yr $525K
3.8 months
Where the money goes
Program services
Program services $472K · Total expenses $525K
90%
Management & General
Management & general $53K · Total expenses $525K
10%
Fundraising
Fundraising $0 · Total expenses $525K
0%
Cost to raise $1
Fundraising expense (2-yr avg) $0 · Solicited contributions (2-yr avg) $152K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $199K · Total revenue $617K
32%
Government reliance
Government grants $15K · Total revenue $617K
2%
Earned-income share
Program service revenue $417K · Total revenue $617K
68%
Investment reliance
Investment income $769 · Total revenue $617K
+0.1%
Program self-sufficiency
Program service revenue $417K · Total expenses $525K
79%
Growth & trend
Revenue growth (YoY)
This year $617K · Prior year $464K
+33%
Net-asset trend (YoY)
End of year $166K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $617K · Expenses $525K
+15%
Liabilities-to-Assets
Total liabilities — · Total assets $166K
—
Net-asset ratio
Net assets $166K · Total assets $166K
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $0 · Other securities (Pt X, ln 12) $0 · Total assets (Pt X, ln 16) $166K
0%
People & payroll
Highest Reported Total Compensation
Individual Joan Siefert Rose · Reported title Director · Highest reported compensation $0 · Total expenses $525K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $112K · Total expenses $525K
21%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 90%——
Overhead ratio 10%——
Fundraising cost ratio 0%——
Revenue growth 33%——
Investment management fee ratio 0%——
Legal fee ratio 0.9%——
Accounting fee ratio 3%——
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.

Leadership and pay

Who runs it, and what are they paid?

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Paperhand Puppet Project executive salaries →

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Governance & Policies

Part VI
  • 4Voting board membersPt VI · Ln 1a
  • –Independent board membersPt VI · Ln 1b
  • Conflict-of-interest policyPt VI · Ln 12aNo
  • Whistleblower policyPt VI · Ln 13No
  • Document retention policyPt VI · Ln 14No
  • Top official’s pay independently reviewedPt VI · Ln 15aNo
  • Family or business ties among leadersPt VI · Ln 2No

Mission and programs

What it does.

Creates inspiring art through puppetry to connect diverse communities and encourage creativity.

Provided by the organization

This section is blank until Paperhand Puppet Project claims this page.

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Mission & Programs · Part III

Where the work happens

1 program service account for $472K of program spending, described in the organization's own filed words · FY2024.
01

Paperhand puppet project makes and teaches others to make art that has at its core the values of creativity, care, compassion, consent, co-existence, and collective liberation.

$472Kprogram expense

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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
Vanguard Charitable Endowment ProgramFY2024$25K
The Grable FoundationFY2024$15K
The Mary Duke Biddle FoundationFY2024$15K
Triangle Community Foundation INCFY2024$11K
Total grants receivedfrom 4 funders$66K
See all 4 funders →

Filing history

Every return on file.

YearRevenueExpensesChangeFiling
FY2025 Latest $879K$720K+43% 990 PDF
FY2024 Viewing $617K$525K+33% 990 PDF
FY2023 $464K$390K 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

Full filing: Form 990 for FY2024

Every line we hold from the return, cited to its Part and line.
Part IX · Statement of functional expenses $525,032 across 31 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 wagesPrograms $103,880$103,880
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxesPrograms $7,947$7,947
IX-11a Management feesPrograms $7,183$7,183
IX-11b Legal feesManagement $4,574$4,574
IX-11c Accounting feesManagement $17,046$17,046
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management fees$0
IX-11g Other fees for servicesManagement $16,300$16,300
IX-12 Advertising and promotionPrograms $1,117$1,117
IX-13 Office expensesManagement $35$35
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 OccupancyPrograms $10,500$10,500
IX-17 TravelPrograms $2,049$2,049
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 InsurancePrograms $4,150$4,150
IX-24 Other expenses (24a–d)Programs $314,240$314,240
IX-24e All other expensesPrograms $20,740 · Management $15,271$36,011
IX-25 Total functional expensesPrograms $471,806 · Management $53,226 · Fundraising $0$525,032

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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