Civic Intelligence

Electric Lit Inc.

990 • Fiscal year 2019 • EIN 46-1402365

Jan 01, 2019 to Dec 31, 2019 • Filed on Oct 01, 2020

147 Prince StreetBrooklyn, NY 11201

(323) 839-6204

Siviq Scores

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

Liabilities / Assets

87th percentile

0.38x

Higher debt load relative to assets than 87% of similar nonprofits.

2019 filings • NTEE S • <$500k nonprofits • Source year 2019

Liabilities / Revenue

73rd percentile

0.07x

Higher debt load relative to revenue than 73% of similar nonprofits.

2019 filings • NTEE S • <$500k nonprofits • Source year 2019

Net Margin

33rd percentile

-4.0%

Higher net margin than 33% of similar nonprofits.

2019 filings • NTEE S • <$500k nonprofits • Source year 2019

Top Officer Pay

91st percentile

$56,869

Higher top officer pay than 91% of similar nonprofits.

Top officer pay equals 20.3% of source-year revenue.

2019 filings • NTEE S • <$500k nonprofits • Source year 2019

Asset Growth

25th percentile

-13%

Faster asset growth than 25% of similar nonprofits.

2019 filings • NTEE S • <$500k nonprofits • Annualized from 2018 to 2019

Revenue Growth

37th percentile

-4.8%

Faster revenue growth than 37% of similar nonprofits.

2019 filings • NTEE S • <$500k nonprofits • Annualized from 2018 to 2019

Assets

Down

$51,859

Down $7,762 (-13%) from 2018

Net Assets

Down

$32,127

Down $11,274 (-26%) from 2018

Liabilities

Up

$19,732

Up $3,512 (+22%) from 2018

Revenue

Down

$280,663

Down $14,054 (-4.8%) from 2018

Expenses

Down

$291,937

Down $9,396 (-3.1%) from 2018

Net Income

Down

-$11,274

Down $4,658 (-70%) from 2018

Historical Trend

Balance Sheet Trend

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

$100K$50K$0-$50KAssets 2014: $36,302Liabilities 2014: $0Net Assets 2014: $36,3022014Assets 2015: $33,132Liabilities 2015: $0Net Assets 2015: $33,1322015Assets 2016: $56,206Liabilities 2016: $7,231Net Assets 2016: $48,9752016Assets 2017: $59,179Liabilities 2017: $9,162Net Assets 2017: $50,0172017Assets 2018: $59,621Liabilities 2018: $16,220Net Assets 2018: $43,4012018Assets 2019: $51,859Liabilities 2019: $19,732Net Assets 2019: $32,1272019Assets 2020: $29,626Liabilities 2020: $14,635Net Assets 2020: $14,9912020Assets 2021: $16,411Liabilities 2021: $29,048Net Assets 2021: -$12,6372021Assets 2022: $24,342Liabilities 2022: $39,200Net Assets 2022: -$14,8582022Assets 2023: $58,464Liabilities 2023: $65,406Net Assets 2023: -$6,9422023Assets 2024: $18,735Liabilities 2024: $66,516Net Assets 2024: -$47,7812024

Highlighted filing

2019

Assets$51,859
Liabilities$19,732
Net Assets$32,127

Operations Trend

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

$600K$400K$200K$0-$200KRevenue 2014: $121,969Expenses 2014: $90,284Net Income 2014: $31,6852014Revenue 2015: $180,103Expenses 2015: $183,273Net Income 2015: -$3,1702015Revenue 2016: $255,558Expenses 2016: $252,484Net Income 2016: $3,0742016Revenue 2017: $283,704Expenses 2017: $282,662Net Income 2017: $1,0422017Revenue 2018: $294,717Expenses 2018: $301,333Net Income 2018: -$6,6162018Revenue 2019: $280,663Expenses 2019: $291,937Net Income 2019: -$11,2742019Revenue 2020: $320,464Expenses 2020: $337,600Net Income 2020: -$17,1362020Revenue 2021: $328,113Expenses 2021: $355,741Net Income 2021: -$27,6282021Revenue 2022: $411,473Expenses 2022: $413,694Net Income 2022: -$2,2212022Revenue 2023: $477,969Expenses 2023: $470,053Net Income 2023: $7,9162023Revenue 2024: $445,570Expenses 2024: $486,409Net Income 2024: -$40,8392024

Highlighted filing

2019

Revenue$280,663
Expenses$291,937
Net Income-$11,274
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Oct 1, 2020
Return Version
2019v5.1
Gross Receipts
$286,048
Mission and Program Overview

Mission

Electric literature's mission is to amplify the power of storytelling with digital innovation, and to ensure that literature remains a vibrant presence in popular culture by supporting writers, embracing new technologies, and building literary community. We serve our mission by operating literary websites, developing innovative publishing projects, and hosting free literary events that are open to the public.

Electric literature's mission is to keep literature a vital part of popular culture through digital innovation and supporting writers.

Balance Sheet Detail
LineBeginningEndChange
Assets
Intangible Assets$16,000$20,500▲ $4,500
Accounts Receivable$16,341$17,904▲ $1,563
Cash and Non-Interest-Bearing Accounts$9,344$10,257▲ $913
Loans From Officers Directors-$6,000-
Inventories for Sale or Use$4,278$1,739▼ $2,539
Savings and Temporary Cash Investments$12,258$59▼ $12,199
Total Assets$59,621$51,859▼ $7,762
Other Assets Total$1,400$1,400→ $0
Liabilities
Accounts Payable and Accrued Expenses$16,220$13,732▼ $2,488
Total Liabilities$16,220$19,732▲ $3,512
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$43,401$32,127▼ $11,274
Total Net Assets Fund Balance$43,401$32,127▼ $11,274
Total Liabilities and Net Assets / Fund Balance$59,621$51,859▼ $7,762
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Halimah MarcusTreasurer/exec. DirectorFT$55,192$1,677$56,869

Board Members and Trustees

NameTitle
Russell a HunterPresident
Danielle McconnellBoard Member
Kima JonesBoard Member
Meredith TalusanBoard Member
Michael CunninghamBoard Member
Nicole CliffeBoard Member
Sara NelsonBoard Member
Sean McdonaldBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$145,557
Program Service Revenue
$119,977
Investment Income
$0
Other Revenue
$15,129
All Other Contributions
$61,636
Change in Net Assets
$-11,274
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$175,736
Salaries, Compensation, and Employee Benefits$116,201
Total Fundraising Expense$21,035
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$116,842$0$0$116,842
Current Officers, Directors, Trustees, and Key Employees$22,077$24,836$8,279$55,192
Other Salaries and Wages$31,615$21,077$0$52,692
Occupancy$8,505$7,272$1,311$17,088
Payroll Taxes$4,108$3,512$633$8,253
Depreciation Depletion$5,500$0$0$5,500
Fees for Services Accounting$0$3,800$0$3,800
Advertising$3,458$0$0$3,458
Travel$3,138$0$0$3,138
Other Expenses$0$2,138$0$2,138
Insurance$0$474$0$474
Office Expenses$235$200$37$472
Other Employee Benefits$31$28$5$64
Total Functional Expenses$205,013$65,889$21,035$291,937
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$768
Fundraising Gross Income$768
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Genre Ball$20,191$768$768$0
Total Events$20,191$768$768$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
-See Part VPromotional sponsorshipNo$20,000

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees-$6,000-
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
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
Filing and Contact Details

Filer

Filer Name
Electric Lit Inc
EIN
46-1402365
Phone
3238396204
Address
147 PRINCE STREET, BROOKLYN, NY 11201
Doing Business As
Electric Literature

Signing Officer

Name
Russell a Hunter
Title
Board Chair
Phone
3238396204
Signed
2020-10-01
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Russell a Hunter
Formed
2014
Legal Domicile
Ny
Voting Board Members
9
Independent Board Members
7
Employees
2
Volunteers
6

Preparer

Firm
Rich and Bander Llp
Address
79 Madison Avenue 2nd Floor, New York, NY 10016
Preparer
Jonathan a Bander
Phone
2126842470
Supplemental Narrative

Additional Explanations

Pt VI, Line 15A

All compensation of the executive director and/or key employees is subject to approval by the board chairman.

Pt VI, Line 15B

All compensation of the executive director and/or key employees is subject to approval by the board chairman.

Pt VI, Line 11B

Form 990 is reviewed and approved by all board memebrs prior to filing.

Pt VI, Line 12C

Officers/directors are required to disclose conflicts of interest annually.

Pt VI, Line 19

Documents available upon request.

Form 990, Part IX, Line 11G

Software development 29174. 29174. 0. 0.

Form 990, Part IX, Line 11G

Editors 46978. 46978. 0. 0.

Form 990, Part IX, Line 11G

Writers 39652. 39652. 0. 0.

Form 990, Part IX, Line 11G

Graphic design 1038. 1038. 0. 0.

Financial Statement Notes

Pt X, Line 2

The organization has evaluated its current tax positions and has concluded that as of december 31, 2019, the organization does not have any significant uncertain tax positions for which a reserve would be necessary.

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IRS990/Desc0RECOMMENDED READING-WEEKLY FICTION MAGAZINE WITH OVER 113,000 SUBSCRIBERS, ONE OF THE LARGEST AUDIENCES FOR LITERARY SHORT STORIES IN THE WORLD. OKEY-PANKY- WEEKLY MAGAZINE LAUNCHED IN 2015 THAT PUBLISHES SHORT, EXPERIMENTAL FICTION,ESSAY, POETRY AND GRAPHIC NARRATIVE.
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IRS990/OtherRevenueMiscGrp/ExclusionAmt00
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt0748
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0748
IRS990/OtherRevenueMiscGrp/UnrelatedBusinessRevenueAmt00
IRS990/OtherRevenueTotalAmt0748
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt00
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt021077
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt031615
IRS990/OtherSalariesAndWagesGrp/TotalAmt052692
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/FundraisingAmt0633
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt03512
IRS990/PayrollTaxesGrp/ProgramServicesAmt04108
IRS990/PayrollTaxesGrp/TotalAmt08253
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0RUSSELL A HUNTER
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/BusinessCd1900099
IRS990/ProgramServiceRevenueGrp/Desc0ADVERTISING INCOME
IRS990/ProgramServiceRevenueGrp/Desc1SERVICES INCOME
IRS990/ProgramServiceRevenueGrp/ExclusionAmt00
IRS990/ProgramServiceRevenueGrp/ExclusionAmt10
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt032477
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt187500
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt10
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0123684
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt02
IRS990/PYOtherExpensesAmt0182475
IRS990/PYOtherRevenueAmt011231
IRS990/PYProgramServiceRevenueAmt0159800
IRS990/PYRevenuesLessExpensesAmt0-6616
IRS990/PYSalariesCompEmpBnftPaidAmt0118858
IRS990/PYTotalExpensesAmt0301333
IRS990/PYTotalRevenueAmt0294717
IRS990/QuidProQuoContributionsInd0true
IRS990/QuidProQuoContriDisclInd0true
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0-11274
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0119977
IRS990/SavingsAndTempCashInvstGrp/BOYAmt012258
IRS990/SavingsAndTempCashInvstGrp/EOYAmt059
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0Other Income Part III, Line 12 Description: Miscellaneous income 2016: 1261. 2017: 1339. 2018: 861. 2019: 748. Description: Special events 2016: 12804. 2017: 3775. 2018: 1611. 2019: 768.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0Pt III Ln 12
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt093427
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt075954
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt056993
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0495615
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt02
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IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt05
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt014
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0138975
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0184049
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0198374
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0197686
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0123106
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt0842190
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt00
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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt05
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IRS990ScheduleA/InvestmentIncomeCYPct00.00000
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IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus2YearsAmt05114
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus3YearsAmt014065
IRS990ScheduleA/OtherIncome509Grp/TotalAmt023167
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00
IRS990ScheduleA/PublicSupportCY509Pct00.62250
IRS990ScheduleA/PublicSupportTotal509Amt0847205
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IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus1YearAmt0131000
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus2YearsAmt0153267
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus3YearsAmt0111333
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt0490600
IRS990ScheduleA/SubstantialContributorsAmtGrp/CurrentTaxYearAmt095000
IRS990ScheduleA/SubstantialContributorsAmtGrp/CurrentTaxYearMinus1YearAmt0131000
IRS990ScheduleA/SubstantialContributorsAmtGrp/CurrentTaxYearMinus2YearsAmt0153267
IRS990ScheduleA/SubstantialContributorsAmtGrp/CurrentTaxYearMinus3YearsAmt0111333
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt0490600
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0284532
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0307733
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0291801
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0273640
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0180099
IRS990ScheduleA/Total509Grp/TotalAmt01337805
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01360986
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HAS EVALUATED ITS CURRENT TAX POSITIONS AND HAS CONCLUDED THAT AS OF DECEMBER 31, 2019, THE ORGANIZATION DOES NOT HAVE ANY SIGNIFICANT UNCERTAIN TAX POSITIONS FOR WHICH A RESERVE WOULD BE NECESSARY.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt X, Line 2
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContributionsTotAmt019423
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent1Amt019423
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt0768
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0GENRE BALL
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt020191
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt020191
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt0768
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt0768
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt00
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt0768
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt0768
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt0Black Balloon LLC (DBA Catapult)
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0See Part V
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt020000
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0Promotional sponsorship
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt06000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd0true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd0false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0CASH FLOW LOAN
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanToOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt06000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0RUSSELL A HUNTER

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