N1 Foundation Inc is located in Brooklyn, NY. The organization was established in 2007. According to its NTEE Classification (A33) the organization is classified as: Printing & Publishing, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 11/2023, N1 Foundation Inc employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. N1 Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 11/2023, N1 Foundation Inc generated $881.6k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.5% each year. All expenses for the organization totaled $906.1k during the year ending 11/2023. While expenses have increased by 7.3% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE N+1 FOUNDATION IS A LITERARY ORGANIZATION COMMITTED TO PUBLISHING AND PROMOTING WORK BY NEW AND DIVERSE WRITERS WHOSE STYLE, SUBJECT MATTER, AND INTELLECTUAL AMBITION ARE UNDERREPRESENTED IN MAINSTREAM PUBLICATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTE AND FOSTER PUBLIC APPRECIATION OF AND PARTICIPATION IN THE LITERARY AND VISUAL ARTS THROUGH PUBLISHING NEWSLETTERS, LECTURES AND SYMPOSIA.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Dayna Tortorici Secretary/executive Director | OfficerTrustee | 10 | $55,027 |
Ronald Barusch Chairperson | OfficerTrustee | 1 | $0 |
Chad Harbach Treasurer | OfficerTrustee | 1 | $0 |
Carla Blumenkranz Board Member | Trustee | 1 | $0 |
Keith Gessen Board Member | Trustee | 1 | $0 |
Dushko Petrovich Board Member | Trustee | 1 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $13,732 |
Related organizations | $0 |
Government grants | $60,000 |
All other contributions, gifts, grants, and similar amounts not included above | $326,232 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $399,964 |
Total Program Service Revenue | $440,459 |
Investment income | $0 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $373 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $0 |
Net Income from Fundraising Events | $25,686 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $881,572 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $0 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $36,037 |
Compensation of current officers, directors, key employees. | $7,207 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $348,518 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $72,802 |
Payroll taxes | $30,783 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $20,150 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $110,418 |
Advertising and promotion | $14,038 |
Office expenses | $16,320 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $65,880 |
Travel | $6,152 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $0 |
Insurance | $785 |
All other expenses | $71,382 |
Total functional expenses | $906,101 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $190,957 |
Savings and temporary cash investments | $152,751 |
Pledges and grants receivable | $60,724 |
Accounts receivable, net | $0 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $1,422 |
Prepaid expenses and deferred charges | $5,400 |
Net Land, buildings, and equipment | $1,196 |
Investments—publicly traded securities | $74,268 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $10,002 |
Total assets | $496,720 |
Accounts payable and accrued expenses | $50,227 |
Grants payable | $0 |
Deferred revenue | $145,245 |
Tax-exempt bond liabilities | $0 |
Escrow or custodial account liability | $0 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Secured mortgages and notes payable | $0 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $0 |
Total liabilities | $195,472 |
Net assets without donor restrictions | $301,248 |
Net assets with donor restrictions | $0 |
Capital stock or trust principal, or current funds | $0 |
Paid-in or capital surplus, or land, building, or equipment fund | $0 |
Retained earnings, endowment, accumulated income, or other funds | $0 |
Total liabilities and net assets/fund balances | $496,720 |