Civic Intelligence

Lit Fund Incorporated

990 • Fiscal year 2020 • EIN 46-1141592

Jan 01, 2020 to Dec 31, 2020 • Filed on Apr 05, 2021

Organization ProfileN/A
4815 28th AvenueAstoria, NY 11103

(917) 626-1369

Siviq Scores

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

Liabilities / Assets

65th percentile

0.02x

Higher debt load relative to assets than 65% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

60th percentile

0.01x

Higher debt load relative to revenue than 60% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Net Margin

76th percentile

27%

Higher net margin than 76% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Top Officer Pay

82nd percentile

$16,000

Higher top officer pay than 82% of similar nonprofits.

Top officer pay equals 4.0% of source-year revenue.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2020

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2020

Balance Sheet
Liabilities / Assets65th percentile

Assets

Up

$153,146

Up $119,866 (+360%) from 2016

Net Assets

$150,296

No earlier filing loaded for comparison.

Liabilities

Up

$2,850

Up $2,850 from 2016

Revenue And Expenses
Liabilities / Revenue60th percentileNet Margin76th percentile

Revenue

Up

$404,288

Up $352,540 (+681%) from 2016

Expenses

Up

$296,572

Up $256,784 (+645%) from 2016

Net Income

Up

$107,716

Up $95,756 (+801%) from 2016

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$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

2020

Assets$153,146
Liabilities$2,850
Net Assets$150,296
Open 2020 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income across loaded years, with this 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

2020

Revenue$404,288
Expenses$296,572
Net Income$107,716
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Apr 5, 2021
Return Version
2020v4.1
Gross Receipts
$404,288
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$36,885$92,875▲ $55,990
Pledges and Grants Receivable$2,076$56,521▲ $54,445
Total Assets$42,580$153,146▲ $110,566
Other Assets Total$3,619$3,750▲ $131
Liabilities
Deferred Revenue$0$2,680▲ $2,680
Accounts Payable and Accrued Expenses$0$170▲ $170
Total Liabilities$0$2,850▲ $2,850
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$22,791$147,156▲ $124,365
Net Assets With Donor Restrictions$19,789$3,140▼ $16,649
Total Net Assets Fund Balance$42,580$150,296▲ $107,716
Total Liabilities and Net Assets / Fund Balance$42,580$153,146▲ $110,566
Compensation and Service Providers
Top Officer Pay82nd percentile

Employees

NameTitleBaseTotal
Randi BerryExecutive Director$16,000$16,000

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$400,258
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$4,030
All Other Contributions
$400,258
Change in Net Assets
$107,716
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$255,988
Other Expenses$39,084
Total Fundraising Expense$2,726
Professional Fundraising Fees$1,500
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$185,988--$185,988
Grants to Domestic Orgs$70,000--$70,000
Fees for Services Accounting$0$3,000$0$3,000
Fees for Services Professional Fundraising--$1,500$1,500
All Other Expenses$0$993$0$993
Insurance$876$0$0$876
Office Expenses$201$188$0$389
Advertising$132$0$0$132
Other Expenses$0$78$0$78
Total Functional Expenses$273,437$20,409$2,726$296,572
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$1,500
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
Yes
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
2021-04-05
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”

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ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Executive Director
ReturnHeader/BusinessOfficerGrp/PhoneNum09176261369
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-04-05
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/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0RICHARDS ACCOUNTING & FINANCIAL SERVICES
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0829 NOSTRAND AVENUE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0BROOKLYN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd011225
ReturnHeader/PreparerPersonGrp/PhoneNum07182211282
ReturnHeader/PreparerPersonGrp/PreparationDt02021-06-16
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Genroy A Richards
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02021-06-16T08:17:20-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0Randi
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0Berry
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$153,146
Liabilities
$2,850
Net assets
$150,296
Revenue
$404,288
Expenses
$296,572
Net income
$107,716
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