Nonprofit · EIN 46-5723196
FALSE PROFIT INC
Tax-exempt · SAN FRANCISCO, CA 94114
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $363,004 | $296,982 | $66,022 | $179,358 | $0 | $179,358 |
| December 31, 2023 | 990 | $272,595 | $235,058 | $37,537 | $113,336 | $0 | $113,336 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $10,091
- Program service revenue
- $352,913
- Investment income
- $0
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Legal fees
- $57,954
- Occupancy
- $14,043
- Travel
- $4,794
- Program services (functional)
- $215,993
- Management and general (functional)
- $80,989
Balance sheet and other
- Total assets, start of year
- $113,336
- Total assets, end of year
- $179,358
- Total liabilities, end of year
- $0
- Net assets, end of year
- $179,358
- Net assets without donor restrictions
- $179,358
- Gross receipts
- $363,004
- Employees
- 0
- Volunteers
- 150
- Year formed
- 2014
- State of legal domicile
- CA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Carrie Brown | President Trustee or director, Officer | 1 | $0 |
| Jef Pearlman | Secretary Trustee or director, Officer | 1 | $0 |
| Sasha Yee | Treasurer Trustee or director, Officer | 1 | $0 |
| MaryAnn Hulsman | Board Member Trustee or director, Officer | 1 | $0 |
990 for the year ended December 31, 2023: 4 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Sasha Yee | Treasurer Trustee or director, Officer | 1 | $0 |
| MaryAnn Hulsman | Board Member Trustee or director, Officer | 1 | $0 |
| Carrie Brown | President Trustee or director, Officer | 1 | $0 |
| Jef Pearlman | Secretary Trustee or director, Officer | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 584 CASTRO STREET 2293, SAN FRANCISCO, CA 94114-2512
- In care of
- % SASHA YEE
- Principal officer (990 for 2024)
- Carrie Brown, 584 Castro Street 2293, San Francisco, CA 941142512
- Signed the 990
- SASHA YEE, Treasurer
- Phone
- (415) 993-2678
- Website
- pricelessfestival.org
- Return prepared by
- Build Advisory
California records
California keeps its own records of charities and corporations. Search them by EIN 46-5723196 or by the name FALSE PROFIT INC.
- Attorney General, Registry of Charities and Fundraisers
- Registration status and filed reports (CT-TR-1, RRF-1)
- Secretary of State, bizfile Online
- Corporation status, entity number, agent for service
- Franchise Tax Board
- Entity status letter (state tax exemption, good standing)
Mission
False Profits primary exempt purpose is to provide cultural advancements through art, music, and education.
Program accomplishments
- Priceless Festival - Annual Arts and musical festival features musical performances by local and international community artists. Featured artists are provided grants to product interaction installation artwork and educational experiences during the festival. The festival also includes a schedule of curated educational activities around science, arts, music, and conservation. This program accounts for about 85% of False Profit Inc annual activity. This event is 100% volunteer produced and funded by admission ticket sales. Approximately 1000 participants/attendees.Expenses $183,595 · revenue $363,004
- Spring Training - A free family friendly 1 day long outdoor event featuring local musicians donating their time and performances. This event took place in Oakland California in May 2024, and is 100% volunteer operated and donation funded. Approximately 500 participants/attendees.Expenses $16,199
- Equity Monthly community gathering - A free monthly community gathering hosted at local businesses, featuring community musicians donating their time and performance. This is 100% volunteer operated and donation funded. Approximately 70 participants/attendees.Expenses $16,199
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 46-5723196
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2015
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Arts, culture and humanities (A20)
- Assets (IRS master file)
- $179,358
- Income (IRS master file)
- $363,004
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $363,004 | $296,982 | $179,358 | XML |
| 990 | December 2023 | $272,595 | $235,058 | $113,336 | XML |
| 990-EZ | December 2022 | – | – | – | IRS |
| 990-EZ | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 46-5723196).
Questions about FALSE PROFIT INC
- What is the EIN of FALSE PROFIT INC?
- The employer identification number (EIN) of FALSE PROFIT INC is 46-5723196.
- Is FALSE PROFIT INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2015.
- Are donations to FALSE PROFIT INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does FALSE PROFIT INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of FALSE PROFIT INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did FALSE PROFIT INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of FALSE PROFIT INC?
- The 990 for the year ended December 31, 2024 names Carrie Brown.
- Who are the officers and directors of FALSE PROFIT INC?
- The 990 for the year ended December 31, 2024 lists 4 people; 0 received compensation from the organization.
- How much revenue does FALSE PROFIT INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $363,004, expenses of $296,982 and total assets of $179,358 at year end.
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