Overview
What is The Lit Fund?
The Lit Fund, also known as The Indie Theater Fund, is a nonprofit organization situated in Astoria, New York (specifically at 4815 28th Avenue). Their primary focus is providing financial assistance to organizations and individual artists in the realm of independent theater within the five boroughs of New York City. Their mission is to empower and support these creative entities, contributing to the richness and diversity of the city's theatrical landscape.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94% (Four-Star out of Four Star rating)
The Lit Fund has received an impressive rating of 94%, reflecting strong performance in accountability and finance. This high score is indicative of effective management and transparency within the organization, essential factors for building trust with donors and stakeholders. The organization boasts a completely independent board, which is crucial for governance and oversight, and demonstrates a commitment to ethical practices.
Strengths highlighted include a perfect score for having no material diversion of assets and well-established policies for conflict of interest, whistleblower protections, and document retention. Additionally, the organization maintains an excellent program expense ratio of 87.24%, indicating that a significant portion of its funds directly supports its programs rather than administrative costs. This efficiency is a positive aspect for potential donors considering their contributions.
On the downside, while the data showcases a robust governance structure and effective financial practices, specific information regarding the outcomes of its programs or direct impact on the community is not provided. Nonetheless, the overall metrics suggest that The Lit Fund is a reputable organization dedicated to its mission.
This AI summary has been generated from information found on Charity Navigator.
Is The Lit Fund legitimate?
The Lit Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Lit Fund submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $32,000
Other Salaries and Wages: $11,154
For more financial information, click here
What is the mission statement of The Lit Fund?
The mission of The Lit Fund is centered around providing financial aid. It specifically targets organizations and individual artists who are dedicated to producing independent theater productions within the five boroughs of New York City. The primary objective is to support and foster the growth of the independent theater scene in the city. Through community grants, The Lit Fund aims to empower these organizations and artists, enabling them to continue creating and sharing their unique theatrical works.
What is the revenue of The Lit Fund?
The Lit Fund's revenue in 2022 was $80,322.
Who are the executives of The Lit Fund and what are their salaries?
There 17 volunteers at The Lit Fund.
Here are 8 key members and their salaries:
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Where can I find the form 990 for The Lit Fund?
The Lit Fund's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of The Lit Fund
The Lit Fund, a nonprofit organization, is dedicated to providing financial aid to both organizations and individual artists who are engaged in the creation of independent theater within the five boroughs of New York City. Its mission is to financially support these endeavors, aiming to foster a vibrant and diverse independent theater scene within the city. By offering community grants to theater companies in NYC, The Lit Fund plays a significant role in nurturing artistic expression and talent, thereby enriching the cultural landscape of the city.
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Impact
October, 2024
The Lit Fund makes a significant impact by providing crucial financial support to organizations and individual artists dedicated to creating independent theater across New York City's five boroughs. Through its community grants, it empowers a diverse array of theater companies, fostering creativity and innovation in the arts. This support helps cultivate a vibrant cultural landscape, ensuring that independent voices are heard and have the resources to bring their stories to life. By investing in grassroots artistic endeavors, The Lit Fund enhances the cultural richness of the city, promotes community engagement, and nurtures the next generation of theatrical talent.
This information is meant to be a general summary of The Lit Fund. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Gross Receipts: $80,322
Assets and Liabilities:
- Total Assets: $0
- Total Liabilities: $0
- Net Assets: $0
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Organization Details
Founding Year
2012
Principal Officer
Randi Berry
NTEE Category
Code: A65 - Arts
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