Civic Intelligence

The Lit Fund

EIN 46-1141592 • 501(c)3 • Astoria, NY

Profile

To financially assist organizations and individual artists creating independent theater in the five boroughs of New York City.

4815 28th AvenueAstoria, NY 11103

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on the latest valid filing.

Source year 2022

Liabilities / Revenue

62nd percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)3 • <$500k nonprofits • Source year 2022

Net Margin

4th percentile

-509%

Higher net margin than 4% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2022

Top Officer Pay

81st percentile

$0

Higher top officer pay than 81% of similar nonprofits.

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

501(c)3 • <$500k nonprofits • Source year 2022

Asset Growth

10th percentile

-100%

Faster asset growth than 10% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2021 to 2022

Revenue Growth

6th percentile

-95%

Faster revenue growth than 6% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / AssetsScore unavailable

Assets

Down

$0

Down $440,434 (-100%) from 2021

Liabilities

Down

$0

Down $43,015 (-100%) from 2021

Net Assets

Down

$0

Down $397,419 (-100%) from 2021

Operations
Liabilities / Revenue62nd percentileNet Margin4th percentile

Revenue

Down

$80,322

Down $1,390,270 (-95%) from 2021

Expenses

Down

$489,145

Down $734,324 (-60%) from 2021

Net Income

Down

-$408,823

Down $655,946 (-265%) from 2021

Trend Graphs

Balance Sheet Trend

Asset Growth10th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$600K$400K$200K$0Assets 2016: $33,280Liabilities 2016: $02016Assets 2020: $153,146Liabilities 2020: $2,850Net Assets 2020: $150,2962020Assets 2021: $440,434Liabilities 2021: $43,015Net Assets 2021: $397,4192021Assets 2022: $0Liabilities 2022: $0Net Assets 2022: $02022

Highlighted filing

2022

Assets$0
Liabilities$0
Net Assets$0
Open 2022 Filing

Operations Trend

Revenue Growth6th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.5M$1.0M$500K$0-$500KRevenue 2016: $51,748Expenses 2016: $39,788Net Income 2016: $11,9602016Revenue 2020: $404,288Expenses 2020: $296,572Net Income 2020: $107,7162020Revenue 2021: $1,470,592Expenses 2021: $1,223,469Net Income 2021: $247,1232021Revenue 2022: $80,322Expenses 2022: $489,145Net Income 2022: -$408,8232022

Highlighted filing

2022

Revenue$80,322
Expenses$489,145
Net Income-$408,823
Open 2022 Filing

Filings

Most recent year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$0
Liabilities
$0
Net assets
$0
Revenue
$80,322
Expenses
$489,145
Net income
-$408,823
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.08$0.49$0.41
2021Detailed filing. Detailed filing data is available for this year.$0.44$0.04$0.40$1.47$1.22$0.25
2020Detailed filing. Detailed filing data is available for this year.$0.15$0.00$0.15$0.40$0.30$0.11
2016Summary only. Only limited summary data is available for this year.$0.03$0.00$0.05$0.04$0.01
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Sep 25, 2023
Return Version
2022v5.0
Gross Receipts
$80,322
Mission and Program Overview

Mission

To financially assist organizations and individual artists creating independent theater in the five boroughs of New York City.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$340,434$0▼ $340,434
Pledges and Grants Receivable$100,000$0▼ $100,000
Total Assets$440,434$0▼ $440,434
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$43,015$0▼ $43,015
Deferred Revenue$0$0→ $0
Total Liabilities$43,015$0▼ $43,015
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$394,279$0▼ $394,279
Net Assets With Donor Restrictions$3,140$0▼ $3,140
Total Net Assets Fund Balance$397,419$0▼ $397,419
Total Liabilities and Net Assets / Fund Balance$440,434$0▼ $440,434
Compensation and Service Providers
Top Officer Pay81st percentile

Board Members and Trustees

NameTitle
Raquel AlmazanPresident
Brea ClemonsBoard member
Dechelle DamienBoard member
Marty LinskyBoard member
Wessam BadawiBoard member
Randi BerryExecutive Director
Siobhan O'NeillSecretary
Brian BerkTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$78,260
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$2,062
All Other Contributions
$76,309
Change in Net Assets
$-408,823

Audited Revenue Reconciliation

Revenue per Audited Statements
$80,322
Total Revenue per Audited Statements
$80,322
Total Revenue per Form 990
$80,322
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$347,837
Grants and Similar Amounts Paid$97,130
Professional Fundraising Fees$32,000
Total Fundraising Expense$32,000
Salaries, Compensation, and Employee Benefits$12,178

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$97,130--$97,130
Fees for Services Management$0$53,266$0$53,266
Fees for Services Professional Fundraising--$32,000$32,000
Other Salaries and Wages$0$11,154$0$11,154
Fees for Services Accounting$0$1,500$0$1,500
Payroll Taxes$0$1,024$0$1,024
All Other Expenses$0$875$0$875
Advertising$471$0$0$471
Office Expenses$0$182$0$182
Travel$0$36$0$36
Total Functional Expenses$389,108$68,037$32,000$489,145

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$489,145
Total Expenses per Audited Statements$489,145
Total Expenses per Form 990$489,145
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$32,000
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
The Lit Fund
EIN
46-1141592
Phone
9176261369
Address
4815 28th Avenue, Astoria, NY 11103
Doing Business As
The Indie Theater Fund

Signing Officer

Name
Randi Berry
Title
Executive Director
Phone
9176261369
Signed
2023-09-25
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Randi Berry
Formed
2012
Legal Domicile
Ny
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
17

Preparer

Firm
Richards Accounting & Financial Services
Address
829 NOSTRAND AVENUE, BROOKLYN, NY 11225
Preparer
Genroy A Richards
Phone
7182211282
Supplemental Narrative

Additional Explanations

Pt VI, Line 12C

“Enforcement and compliance with policies: On an annual basis the organization evaluates all staff members to see if they are adhering to the policies amd procedures of the organization, if employees are found not to be meeting the goals of the organiztion, the board evaluates those employees on a more frequent basis.”

Pt VI, Line 11B

“990 Review, the 990 is shared with the treasurer and chair. The executive Director, the finance commitee and our financial consultant review the draft, once all corrections are made and the report is ready, a copy is given to each board member.”

Pt XI

“Line 9 is to adjust balance to zero to agree with px, line 32.”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleN/DirectorOfSuccessorInd0true
IRS990ScheduleN/EmployeeOfSuccessorInd0true
IRS990ScheduleN/LiabilitiesPaidInd0true
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc0Cash, receivables,
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/BusinessName/BusinessNameLine1Txt0IndieSpace Inc
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt02022-05-13
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/EIN0474523884
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/FairMarketValueOfAssetAmt0274585
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt0501(c)(3)
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt0Book value reduced by depreciation
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt04815 28th Avenue
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/CityNm0Astoria
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/StateAbbreviationCd0NY
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/ZIPCd011103
IRS990ScheduleN/OwnerOfSuccessorInd0false
IRS990ScheduleN/ReceiveCompensationInd0true
IRS990ScheduleN/RequiredToNotifyAGInd0true
IRS990ScheduleN/SupplementalInformationDetail/ExplanationTxt0Randi Berry, the Executive director of the Lit Fund, became the executive Director of IndieSpace, Inc.
IRS990ScheduleN/SupplementalInformationDetail/ExplanationTxt1none
IRS990ScheduleN/SupplementalInformationDetail/FormAndLineReferenceDesc0Part I, Line 2e
IRS990ScheduleN/SupplementalInformationDetail/FormAndLineReferenceDesc1Part I, Line 3
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Enforcement and compliance with policies: On an annual basis the organization evaluates all staff members to see if they are adhering to the policies amd procedures of the organization, if employees are found not to be meeting the goals of the organiztion, the board evaluates those employees on a more frequent basis.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1990 Review, the 990 is shared with the treasurer and chair. The executive Director, the finance commitee and our financial consultant review the draft, once all corrections are made and the report is ready, a copy is given to each board member.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Line 9 is to adjust balance to zero to agree with px, line 32.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt XI
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0true
IRS990/TotalAssetsBOYAmt0440434
IRS990/TotalAssetsEOYAmt00
IRS990/TotalAssetsGrp/BOYAmt0440434
IRS990/TotalAssetsGrp/EOYAmt00
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt078260
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt032000
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt068037
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0389108
IRS990/TotalFunctionalExpensesGrp/TotalAmt0489145
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt043015
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt043015
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0397419
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt00
IRS990/TotalProgramServiceExpensesAmt0389108
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt080322
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt017
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0440434
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt00
IRS990/TravelGrp/FundraisingAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt036
IRS990/TravelGrp/ProgramServicesAmt00
IRS990/TravelGrp/TotalAmt036
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/USAddress/AddressLine1Txt04815 28th Avenue
IRS990/USAddress/CityNm0Astoria
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd011103
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/FederatedAssuranceLevelCd0FAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Randi Berry
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Executive Director
ReturnHeader/BusinessOfficerGrp/PhoneNum09176261369
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-09-25
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0The Lit Fund
ReturnHeader/Filer/BusinessNameControlTxt0LITF
ReturnHeader/Filer/EIN0461141592
ReturnHeader/Filer/PhoneNum09176261369
ReturnHeader/Filer/USAddress/AddressLine1Txt04815 28th Avenue
ReturnHeader/Filer/USAddress/CityNm0Astoria
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd011103
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0383729679
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0RICHARDS ACCOUNTING & FINANCIAL SERVICES

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