Civic Intelligence

The Tank Ltd.

990 • Fiscal year 2018 • EIN 01-0798319

Jul 01, 2017 to Jun 30, 2018 • Filed on Nov 14, 2018

Organization ProfileWWW.THETANKNYC.ORG
312 West 36th St 1st FloorNew York, NY 10018

(212) 563-6269

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

78th percentile

0.30x

Higher debt load relative to assets than 78% of similar nonprofits.

2018 filings • NTEE A • $500k-$1M nonprofits • Source year 2018

Liabilities / Revenue

58th percentile

0.06x

Higher debt load relative to revenue than 58% of similar nonprofits.

2018 filings • NTEE A • $500k-$1M nonprofits • Source year 2018

Net Margin

60th percentile

8.2%

Higher net margin than 60% of similar nonprofits.

2018 filings • NTEE A • $500k-$1M nonprofits • Source year 2018

Top Officer Pay

49th percentile

$0

Higher top officer pay than 49% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2018 filings • NTEE A • $500k-$1M nonprofits • Source year 2018

Asset Growth

93rd percentile

148%

Faster asset growth than 93% of similar nonprofits.

2018 filings • NTEE A • $500k-$1M nonprofits • Annualized from 2017 to 2018

Revenue Growth

90th percentile

75%

Faster revenue growth than 90% of similar nonprofits.

2018 filings • NTEE A • $500k-$1M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets78th percentile

Assets

Up

$156,552

Up $93,387 (+148%) from 2017

Net Assets

Up

$109,863

Up $59,642 (+119%) from 2017

Liabilities

Up

$46,689

Up $33,745 (+261%) from 2017

Revenue And Expenses
Liabilities / Revenue58th percentileNet Margin60th percentile

Revenue

Up

$728,391

Up $311,311 (+75%) from 2017

Expenses

Up

$668,749

Up $251,894 (+60%) from 2017

Net Income

Up

$59,642

Up $59,417 (+26408%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth93rd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$3.0M$2.0M$1.0M$0Assets 2013: $36,400Liabilities 2013: $35,247Net Assets 2013: $1,1532013Assets 2014: $35,538Liabilities 2014: $17,853Net Assets 2014: $17,6852014Assets 2015: $43,851Liabilities 2015: $2,540Net Assets 2015: $41,3112015Assets 2016: $59,902Liabilities 2016: $9,906Net Assets 2016: $49,9962016Assets 2017: $63,165Liabilities 2017: $12,944Net Assets 2017: $50,2212017Assets 2018: $156,552Liabilities 2018: $46,689Net Assets 2018: $109,8632018Assets 2019: $160,844Liabilities 2019: $49,612Net Assets 2019: $111,2322019Assets 2020: $405,601Liabilities 2020: $117,216Net Assets 2020: $288,3852020Assets 2021: $485,523Liabilities 2021: $263,999Net Assets 2021: $221,5242021Assets 2022: $636,537Liabilities 2022: $298,025Net Assets 2022: $338,5122022Assets 2023: $2,273,753Liabilities 2023: $1,619,561Net Assets 2023: $654,1922023Assets 2024: $1,872,843Liabilities 2024: $1,454,611Net Assets 2024: $418,2322024

Highlighted filing

2018

Assets$156,552
Liabilities$46,689
Net Assets$109,863
Open 2018 Filing

Operations Trend

Revenue Growth90th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$2.0M$1.5M$1.0M$500K$0-$500KRevenue 2013: $257,221Expenses 2013: $260,516Net Income 2013: -$3,2952013Revenue 2014: $218,939Expenses 2014: $205,907Net Income 2014: $13,0322014Revenue 2015: $262,563Expenses 2015: $238,937Net Income 2015: $23,6262015Revenue 2016: $444,974Expenses 2016: $436,289Net Income 2016: $8,6852016Revenue 2017: $417,080Expenses 2017: $416,855Net Income 2017: $2252017Revenue 2018: $728,391Expenses 2018: $668,749Net Income 2018: $59,6422018Revenue 2019: $857,733Expenses 2019: $856,364Net Income 2019: $1,3692019Revenue 2020: $992,372Expenses 2020: $815,219Net Income 2020: $177,1532020Revenue 2021: $763,649Expenses 2021: $830,510Net Income 2021: -$66,8612021Revenue 2022: $1,186,485Expenses 2022: $1,069,498Net Income 2022: $116,9872022Revenue 2023: $1,683,961Expenses 2023: $1,368,281Net Income 2023: $315,6802023Revenue 2024: $1,425,868Expenses 2024: $1,661,828Net Income 2024: -$235,9602024

Highlighted filing

2018

Revenue$728,391
Expenses$668,749
Net Income$59,642
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Nov 14, 2018
Return Version
2017v2.2
Gross Receipts
$728,391
Mission and Program Overview

Mission

SEE SCHEDULE O

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$21,931$60,989▲ $39,058
Accounts Receivable$38,579$33,868▼ $4,711
Prepaid Expenses and Deferred Charges$2,655$9,544▲ $6,889
Land, Buildings, and Equipment, Net-$2,601-
Total Assets$63,165$156,552▲ $93,387
Other Assets Total-$49,550-
Liabilities
Other Liabilities-$37,510-
Accounts Payable and Accrued Expenses$12,944$9,179▼ $3,765
Total Liabilities$12,944$46,689▲ $33,745
Net Assets / Fund Balance
Unrestricted Net Assets$50,221$109,863▲ $59,642
Total Net Assets Fund Balance$50,221$109,863▲ $59,642
Total Liabilities and Net Assets / Fund Balance$63,165$156,552▲ $93,387

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$2,601--
Other Assets Org$49,550--
Compensation and Service Providers
Top Officer Pay49th percentile

Board Members and Trustees

NameTitle
Justin KrebsPresident
Eric KrebsTrustee
Gloria PitagorskyTrustee
Jenn De La VegaTrustee
Jill RousseauTrustee
Josh LuxenbergTrustee
Patrick RousseauTrustee
Stephane SamuelTrustee
Mike RosenthalSecretary
Jj LindTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$379,551
Program Service Revenue
$348,840
Investment Income
$0
Other Revenue
$0
All Other Contributions
$254,451
Change in Net Assets
$59,642

Audited Revenue Reconciliation

Revenue per Audited Statements
$728,391
Total Revenue per Audited Statements
$728,391
Total Revenue per Form 990
$728,391
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$536,804
Salaries, Compensation, and Employee Benefits$131,945
Total Fundraising Expense$55,917
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$176,269$24,695$1,443$202,407
Other Salaries and Wages$117,635$9,960$4,350$131,945
Other Expenses$49,119-$49,305$49,305
Travel$18,998--$18,998
Fees for Services Other-$11,638-$11,638
Insurance-$6,499-$6,499
Advertising$6,231--$6,231
All Other Expenses--$819$819
Total Functional Expenses$560,040$52,792$55,917$668,749

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$668,749
Total Expenses per Audited Statements$668,749
Total Expenses per Form 990$668,749
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Eric KrebsBoard MemberPaid for RentNo$15,000
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred Revenue$20,000
Bank Line of Credit$17,510
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
Yes
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Officer directors etc family relationship Part VI line 2

“Justin krebs, board member, is the son of eric krebs, also a board member. Additionally, two board members, jill rousseau and patrick rousseau, are married to each other.”

Form 990 governing body review Part VI line 11

“Board reviews 990 and financials before submitting.”

Conflict of interest policy compliance Part VI line 12C

“Board rewiews conflict of interest policy regularly.”

CEO executive director top management comp Part VI line 15A

“Compensation is set by board.”

Other officer or key employee compensation Part VI line 15B

“Compensation is set by board.”

Governing documents etc available to public Part VI line 19

“Documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
The Tank Ltd
EIN
01-0798319
Address
312 WEST 36TH ST 1ST FLOOR, NEW YORK, NY 10018

Signing Officer

Name
Justin Krebs
Title
President
Phone
2125636269
Signed
2018-11-14
Discuss with paid preparer
Yes

Organization Details

Formed
2003
Legal Domicile
Ny
Voting Board Members
10
Independent Board Members
8
Employees
2
Volunteers
80

Preparer

Firm
Egan Tax and Books Ltd
Address
505 8th Ave Ste 600, New York, NY 10018-6560
Preparer
Rebecca N Egan CPA
Phone
2122442720
Supplemental Narrative

Additional Explanations

List of other fees for services expenses Part IX line 11G

“Independent artist fees = $141,732”

General explanation attachment

“Part iii.1: the tank is a manhattan-based non-profit arts presenter. We serve emerging artists engaged in the pursuit of new ideas and forms of expression. Our goal is to foster an environment of inclusiveness and remove the economic barriers from the creation of new work for artists launching their careers and experimenting within their art form. The heart of our services is providing free performance space in the 62-seat theater complex that we operate in manhattan, and we also offer a suite of other resources such as free rehearsal space, promotional support, and artist fees. Our programming is multi-disciplinary, representing disciplines including theater, music, dance, comedy, film, and storytelling. We keep ticket prices affordable and view our work as democratic, opening up both the creation and attendance of the arts to all and positioning the arts within civic and socio-political discourse.”

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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt049550
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0SECURITY DEPOSIT
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt017510
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt120000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0BANK LINE OF CREDIT
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1DEFERRED REVENUE
IRS990ScheduleD/RevenueSubtotalAmt0728391
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02601
IRS990ScheduleD/TotalBookValueOtherAssetsAmt049550
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0PAID FOR RENT
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0JUSTIN KREBS, BOARD MEMBER, IS THE SON OF ERIC KREBS, ALSO A BOARD MEMBER. ADDITIONALLY, TWO BOARD MEMBERS, JILL ROUSSEAU AND PATRICK ROUSSEAU, ARE MARRIED TO EACH OTHER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BOARD REVIEWS 990 AND FINANCIALS BEFORE SUBMITTING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2BOARD REWIEWS CONFLICT OF INTEREST POLICY REGULARLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3COMPENSATION IS SET BY BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4COMPENSATION IS SET BY BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6INDEPENDENT ARTIST FEES = $141,732
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7PART III.1: THE TANK IS A MANHATTAN-BASED NON-PROFIT ARTS PRESENTER. WE SERVE EMERGING ARTISTS ENGAGED IN THE PURSUIT OF NEW IDEAS AND FORMS OF EXPRESSION. OUR GOAL IS TO FOSTER AN ENVIRONMENT OF INCLUSIVENESS AND REMOVE THE ECONOMIC BARRIERS FROM THE CREATION OF NEW WORK FOR ARTISTS LAUNCHING THEIR CAREERS AND EXPERIMENTING WITHIN THEIR ART FORM. THE HEART OF OUR SERVICES IS PROVIDING FREE PERFORMANCE SPACE IN THE 62-SEAT THEATER COMPLEX THAT WE OPERATE IN MANHATTAN, AND WE ALSO OFFER A SUITE OF OTHER RESOURCES SUCH AS FREE REHEARSAL SPACE, PROMOTIONAL SUPPORT, AND ARTIST FEES. OUR PROGRAMMING IS MULTI-DISCIPLINARY, REPRESENTING DISCIPLINES INCLUDING THEATER, MUSIC, DANCE, COMEDY, FILM, AND STORYTELLING. WE KEEP TICKET PRICES AFFORDABLE AND VIEW OUR WORK AS DEMOCRATIC, OPENING UP BOTH THE CREATION AND ATTENDANCE OF THE ARTS TO ALL AND POSITIONING THE ARTS WITHIN CIVIC AND SOCIO-POLITICAL DISCOURSE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Officer directors etc family relationship Part VI line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3CEO executive director top management comp Part VI line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Other officer or key employee compensation Part VI line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6List of other fees for services expenses Part IX line 11g
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7General explanation attachment
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IRS990/WebsiteAddressTxt0WWW.THETANKNYC.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JUSTIN KREBS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum02125636269
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-11-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0THE TANK LTD
ReturnHeader/Filer/BusinessNameControlTxt0TANK
ReturnHeader/Filer/EIN0010798319
ReturnHeader/Filer/USAddress/AddressLine1Txt0312 WEST 36TH ST 1ST FLOOR
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ReturnHeader/FilingSecurityInformation/FederalOriginalSubmissionIdDt02018-11-14
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0104.129.137.106
ReturnHeader/FilingSecurityInformation/IPDt02018-11-14
ReturnHeader/FilingSecurityInformation/IPTm010:40:23
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0262858646
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Egan Tax and Books Ltd
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0505 8th Ave Ste 600
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0New York

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$156,552
Liabilities
$46,689
Net assets
$109,863
Revenue
$728,391
Expenses
$668,749
Net income
$59,642
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.87$1.45$0.42$1.43$1.66$0.24
2023Detailed filing. Detailed filing data is available for this year.$2.27$1.62$0.65$1.68$1.37$0.32
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.64$0.30$0.34$1.19$1.07$0.12
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.49$0.26$0.22$0.76$0.83$0.07
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.41$0.12$0.29$0.99$0.82$0.18
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.16$0.05$0.11$0.86$0.86$0.00
2018Detailed filing. Detailed filing data is available for this year.$0.16$0.05$0.11$0.73$0.67$0.06
2017Detailed filing. Detailed filing data is available for this year.$0.06$0.01$0.05$0.42$0.42$0.00
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.06$0.01$0.05$0.44$0.44$0.01
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.04$0.00$0.04$0.26$0.24$0.02
2014Detailed filing. Detailed filing data is available for this year.$0.04$0.02$0.02$0.22$0.21$0.01
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.04$0.04$0.00$0.26$0.26$0.00