Civic Intelligence

Lulu & Leo Fund

990 • Fiscal year 2016 • EIN 46-1316048

Jul 01, 2015 to Jun 30, 2016 • Filed on Mar 31, 2017

115 East 57th Street No 1113New York, NY 10022

(646) 202-9618

Siviq Scores

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

Liabilities / Assets

42nd percentile

0.02x

Higher debt load relative to assets than 42% of similar nonprofits.

2016 filings • NTEE A • $500k-$1M nonprofits • Source year 2016

Liabilities / Revenue

45th percentile

0.03x

Higher debt load relative to revenue than 45% of similar nonprofits.

2016 filings • NTEE A • $500k-$1M nonprofits • Source year 2016

Net Margin

69th percentile

9.7%

Higher net margin than 69% of similar nonprofits.

2016 filings • NTEE A • $500k-$1M nonprofits • Source year 2016

Top Officer Pay

92nd percentile

$100,704

Higher top officer pay than 92% of similar nonprofits.

Top officer pay equals 18.2% of source-year revenue.

2016 filings • NTEE A • $500k-$1M nonprofits • Source year 2016

Asset Growth

61st percentile

4.9%

Faster asset growth than 61% of similar nonprofits.

2016 filings • NTEE A • $500k-$1M nonprofits • Annualized from 2015 to 2016

Revenue Growth

6th percentile

-52%

Faster revenue growth than 6% of similar nonprofits.

2016 filings • NTEE A • $500k-$1M nonprofits • Annualized from 2015 to 2016

Assets

Up

$967,597

Up $45,323 (+4.9%) from 2015

Net Assets

Up

$948,728

Up $53,510 (+6.0%) from 2015

Liabilities

Down

$18,869

Down $8,187 (-30%) from 2015

Revenue

Down

$554,048

Down $596,201 (-52%) from 2015

Expenses

Up

$500,538

Up $133,128 (+36%) from 2015

Net Income

Down

$53,510

Down $729,329 (-93%) from 2015

Historical Trend

Balance Sheet Trend

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

$1.5M$1.0M$500K$0Assets 2013: $169,513Liabilities 2013: $02013Assets 2014: $112,379Liabilities 2014: $02014Assets 2015: $922,274Liabilities 2015: $27,056Net Assets 2015: $895,2182015Assets 2016: $967,597Liabilities 2016: $18,869Net Assets 2016: $948,7282016Assets 2017: $861,228Liabilities 2017: $19,138Net Assets 2017: $842,0902017Assets 2018: $950,109Liabilities 2018: $22,652Net Assets 2018: $927,4572018Assets 2019: $1,236,900Liabilities 2019: $34,066Net Assets 2019: $1,202,8342019Assets 2020: $1,159,778Liabilities 2020: $59,983Net Assets 2020: $1,099,7952020Assets 2021: $1,061,356Liabilities 2021: $58,292Net Assets 2021: $1,003,0642021Assets 2022: $998,793Liabilities 2022: $73,035Net Assets 2022: $925,7582022Assets 2023: $1,154,210Liabilities 2023: $33,278Net Assets 2023: $1,120,9322023Assets 2024: $1,465,713Liabilities 2024: $57,884Net Assets 2024: $1,407,8292024

Highlighted filing

2016

Assets$967,597
Liabilities$18,869
Net Assets$948,728

Operations Trend

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

$1.5M$1.0M$500K$0-$500KRevenue 2013: $169,513Expenses 2013: $0Net Income 2013: $169,5132013Revenue 2014: $60,000Expenses 2014: $117,134Net Income 2014: -$57,1342014Revenue 2015: $1,150,249Expenses 2015: $367,410Net Income 2015: $782,8392015Revenue 2016: $554,048Expenses 2016: $500,538Net Income 2016: $53,5102016Revenue 2017: $372,107Expenses 2017: $478,745Net Income 2017: -$106,6382017Revenue 2018: $531,863Expenses 2018: $446,496Net Income 2018: $85,3672018Revenue 2019: $758,858Expenses 2019: $483,481Net Income 2019: $275,3772019Revenue 2020: $349,074Expenses 2020: $452,113Net Income 2020: -$103,0392020Revenue 2021: $360,094Expenses 2021: $456,825Net Income 2021: -$96,7312021Revenue 2022: $335,092Expenses 2022: $412,398Net Income 2022: -$77,3062022Revenue 2023: $729,368Expenses 2023: $534,194Net Income 2023: $195,1742023Revenue 2024: $885,048Expenses 2024: $598,151Net Income 2024: $286,8972024

Highlighted filing

2016

Revenue$554,048
Expenses$500,538
Net Income$53,510
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Mar 31, 2017
Return Version
2015v3.0
Gross Receipts
$635,452
Mission and Program Overview

Mission

The lulu & leo fund mission to help children and families foster creativity and build resilence through programs that provide meaningful engagement with art and other creative endeavors.

The lulu & leo fund helps children and families foster creativity and build resilience through programs that provide meaningful engagement with art and other creative endeavors.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$917,634$940,457▲ $22,823
Prepaid Expenses and Deferred Charges$4,640$27,140▲ $22,500
Total Assets$922,274$967,597▲ $45,323
Liabilities
Accounts Payable and Accrued Expenses$27,056$13,869▼ $13,187
Deferred Revenue-$5,000-
Total Liabilities$27,056$18,869▼ $8,187
Net Assets / Fund Balance
Unrestricted Net Assets$895,218$948,728▲ $53,510
Total Net Assets Fund Balance$895,218$948,728▲ $53,510
Total Liabilities and Net Assets / Fund Balance$922,274$967,597▲ $45,323
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Jennifer GoldscheinExecutive DirectorFT$100,704$100,704

Board Members and Trustees

NameTitle
Kevin KrimChairman
Chad HarbachBoard Member
Janet Abrams-piechotaBoard Member
Marina KrimBoard Member
Sonali TheisenBoard Member
Susan VobejdaBoard Member
Brian C FoxTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$593,821
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$-39,773
All Other Contributions
$136,058
Change in Net Assets
$53,510

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table45$197,966Auction Sales Receip
Total Noncash Contributions45$197,966-

Audited Revenue Reconciliation

Revenue per Audited Statements
$554,048
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$554,048
Total Revenue per Form 990
$554,048
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$175,000
Salaries, Compensation, and Employee Benefits$173,221
Other Expenses$152,317
Total Fundraising Expense$108,671
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$165,000--$165,000
Current Officers, Directors, Trustees, and Key Employees$55,642$17,813$23,053$96,508
Other Salaries and Wages$36,669$11,739$15,192$63,600
Fees for Services Other$31,142$1,036-$32,178
Occupancy$13,185$4,221$5,463$22,869
Fees for Services Accounting-$20,998-$20,998
Payroll Taxes$7,560$2,421$3,132$13,113
Grants to Domestic Individuals$10,000--$10,000
Office Expenses$5,718$351$955$7,024
Information Technology$1,410$2,470$228$4,108
Travel$525$1,073$1,545$3,143
Other Expenses$1,433$0$0$1,433
Total Functional Expenses$328,412$63,455$108,671$500,538

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$500,538
Total Expenses per Audited Statements$500,538
Total Expenses per Form 990$500,538
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Cool Culture IncNew York, NY501 C(3)Literacy Through Culture Family Leaders Program$50,000
Sing for Hope IncNew York, NY501 C(3)The Grant Will Support Capacity Building and Systems Development to Grow the Sing for Hope Healing Arts Youth Arts and Community Art Programs.$50,000
Friends of Materials for the Arts IncNew York, NY501 C(3)2015 Grant for Creative Reuse in the Classroom$25,000
Project ArtNew York, NY501 C(3)THE PROJECTART GRANT WILL BRING THE SUPERARTIST PROGRAM TO NEW YORK CITY'S LIBRARIES IN NEIGHBORHOODS IN NEED.$25,000
Museum of the City of New YorkNew York, NY501 C(3)THE GRANT SUPPORTS THE MUSEUM'S FAMILY PROGRAMS WHICH ENABLE FAMILY AUDIENCES, INCLUDING THOSE FROM AT-RISK COMMUNITIES AND HOMELESS SHELTERS, TO EXPLORE NEW YORK CITY'S MULTI-CULTURAL HISTORY AND TO EMPLOY THEIR CREATIVE ENERGIES IN A WELCOMING LEARNING ENVIRONMENT$15,000
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$81,404
Fundraising Gross Income$41,631
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Online Auction$197,966-$39,773-
Annual Benefit$301,428$41,631-$41,631
Total Events$499,394$41,631$81,404$-39,773
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 family members
No
Business relationship with organization members
No
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

Form 990, Part VI, Section A, Line 2

Kevin krim and marina krim have a family relationship.

Form 990, Part VI, Section B, Line 11

A final copy of form 990 is distributed to the board for review and approval.

Form 990, Part VI, Section B, Line 15

The board is charged with responsibility for evaluating, reviewing and determining compensation of officers and others. Procedures have been established to ensure that the members of the board act independently and without conflict of interest,

Form 990, Part VI, Section C, Line 18

Any applicable documents are made available to the public upon request

Form 990, Part VI, Section C, Line 19

The organizations makes its governing documents, conflict of interest policy and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Lulu & Leo Fund
EIN
46-1316048
Phone
6462029618
Address
115 EAST 57TH STREET NO 1113, NEW YORK, NY 10022

Signing Officer

Name
Jennifer Goldschein
Title
Chairman
Phone
6462029618
Signed
2017-03-31
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kevin Krim
Formed
2012
Legal Domicile
Ny
Voting Board Members
7
Independent Board Members
7
Employees
2
Volunteers
38

Preparer

Firm
Lutz and Carr Cpas Llp
Address
300 EAST 42ND STREET, NEW YORK, NY 10017
Preparer
Lauren Cresci
Phone
2126972299
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0MASTER SUPERARTIST FELLOW GRANT
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IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0THE GRANT SUPPORTS THE MUSEUM'S FAMILY PROGRAMS WHICH ENABLE FAMILY AUDIENCES, INCLUDING THOSE FROM AT-RISK COMMUNITIES AND HOMELESS SHELTERS, TO EXPLORE NEW YORK CITY'S MULTI-CULTURAL HISTORY AND TO EMPLOY THEIR CREATIVE ENERGIES IN A WELCOMING LEARNING ENVIRONMENT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1THE PROJECTART GRANT WILL BRING THE SUPERARTIST PROGRAM TO NEW YORK CITY'S LIBRARIES IN NEIGHBORHOODS IN NEED.
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2THE GRANT WILL SUPPORT CAPACITY BUILDING AND SYSTEMS DEVELOPMENT TO GROW THE SING FOR HOPE HEALING ARTS YOUTH ARTS AND COMMUNITY ART PROGRAMS.
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt32015 GRANT FOR CREATIVE REUSE IN THE CLASSROOM
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt4LITERACY THROUGH CULTURE FAMILY LEADERS PROGRAM
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0MUSEUM OF THE CITY OF NEW YORK
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1PROJECT ART
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2SING FOR HOPE INC
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt3FRIENDS OF MATERIALS FOR THE ARTS INC
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt4COOL CULTURE INC
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0EACH GRANT IS MADE PURUSANT TO A WRITTEN AGREEMENT WHERE THE GRANTEE AGREES TO USE THE GRANT FUNDS ONLY FOR THE CHARITABLE PURPOSES DESCRIBED IN THE RELATED GRANT REQUEST. THE ORGANIZATIONS CONSIDERED FOR THE GRANT MUST FALL INTO THE FOLLOWING AREAS 1)SUPPORT PROGRAMS THAT USE ART AS A MEANS OF PROCESSING TRAUMA, ADVERSITY OR LOSS 2) PROVIDE ACCESS TO THE ARTS FOR CHILDREN AND FAMILIES LIVING IN UNDER RESOURCED COMMUNITIES AND 3) FUND COLLECTIVE ARTS PROJECTS FOR COMMUNITIES FACED WITH LOSS, SUFFERING OR HARDSHIP THAT WISH TO FACILIATE HEALING THROUGH CREATIVITY. THE GRANTEES ARE REQUIRED TO PROVIDE 6 MONTH AND END OF YEAR REPORTS THAT INCLUDE DETAILED QUANTITATIVE AND QUALITATIVE IMPACT OF THE PROGRAMMING THAT WE SUPPORT.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
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IRS990ScheduleM/OtherNonCashContriTableGrp/Desc0ACCESS TO TV SHOWS SETS AND MEETING THE STARS
IRS990ScheduleM/OtherNonCashContriTableGrp/MethodOfDeterminingRevenuesTxt0AUCTION SALES RECEIP
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0KEVIN KRIM AND MARINA KRIM HAVE A FAMILY RELATIONSHIP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A FINAL COPY OF FORM 990 IS DISTRIBUTED TO THE BOARD FOR REVIEW AND APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD IS CHARGED WITH RESPONSIBILITY FOR EVALUATING, REVIEWING AND DETERMINING COMPENSATION OF OFFICERS AND OTHERS. PROCEDURES HAVE BEEN ESTABLISHED TO ENSURE THAT THE MEMBERS OF THE BOARD ACT INDEPENDENTLY AND WITHOUT CONFLICT OF INTEREST,
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ANY APPLICABLE DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATIONS MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
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