Nonprofit · EIN 81-1983565
BREAKOUT FOUNDATION INC
Tax-exempt · NEW YORK, NY 10001
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $405,000 | $200,430 | $204,570 | $248,293 | $0 | $248,293 |
| December 31, 2023 | 990-EZ | $137,796 | $128,221 | $9,575 | $43,723 | – | $43,723 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $405,000
- Program service revenue
- $0
- Investment income
- $0
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $5,000
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Legal fees
- $825
- Accounting fees
- $980
- Program services (functional)
- $197,916
- Management and general (functional)
- $2,514
Balance sheet and other
- Total assets, start of year
- $43,723
- Total assets, end of year
- $248,293
- Total liabilities, end of year
- $0
- Net assets, end of year
- $248,293
- Net assets without donor restrictions
- $248,293
- Gross receipts
- $405,000
- Employees
- 0
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 |
|---|---|---|---|
| MICHAEL FARBER | SECRETARY Officer | 5 | $0 |
| ADITYA NAIK | CO-PRESIDENT Officer | 5 | $0 |
| KATHRYN THAN | TREASURER Officer | 5 | $0 |
990-EZ for the year ended December 31, 2023: 3 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| KATHRYN THAN | TREASURER | 5 | $0 |
| MICHAEL FARBER | SECRETARY | 5 | $0 |
| ADITYA NAIK | CO-PRESIDENT | 5 | $0 |
Address and contacts
- Address (IRS master file)
- 224 W 35TH ST STE 500 UNIT 512, NEW YORK, NY 10001-2538
- In care of
- % GRAHAM COHEN
- Principal officer (990 for 2024)
- MICHAEL FARBER, 101 JEFFERSON AVENUE, APT 3D, BROOKLYN, NY 11216
- Signed the 990
- MICHAEL FARBER, SECRETARY
- Phone
- (240) 505-0239
- Return prepared by
- WESTWOOD TAX & CONSULTING LLC
Mission
THE BREAKOUT FOUNDATION WAS CREATED TO AWARD GRANTS ON A MONTHLY BASIS TO RISING NON PROFIT LEADERS AND SOCIAL ENTREPRENEURS HAVING A POSITIVE IMPACT IN THEIR COMMUNITIES.
Program accomplishments
- THE ORGANIZATION IS CURRENTLY REVIEWING APPLICATIONS TO DETERMINE WHO WILL BE RECEIVING A GRANT.Expenses $5,000 · grants $5,000
- HExpenses $192,916
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-EZ on file |
IRS record
- EIN
- 81-1983565
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2016
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S31)
- Assets (IRS master file)
- $248,293
- Income (IRS master file)
- $405,000
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | – | – | – | IRS |
| 990-EZ | December 2023 | $137,796 | $128,221 | $43,723 | IRS |
| 990-EZ | December 2022 | – | – | – | IRS |
| 990-EZ | December 2021 | – | – | – | IRS |
| 990-EZ | December 2020 | – | – | – | IRS |
| 990-EZ | December 2018 | – | – | – | IRS |
990-N: the IRS publishes only the latest e-Postcard per organization; earlier years appear here as 990.tax collects the monthly files. 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.
Questions about BREAKOUT FOUNDATION INC
- What is the EIN of BREAKOUT FOUNDATION INC?
- The employer identification number (EIN) of BREAKOUT FOUNDATION INC is 81-1983565.
- Is BREAKOUT FOUNDATION INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2016.
- Are donations to BREAKOUT FOUNDATION INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does BREAKOUT FOUNDATION 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 BREAKOUT FOUNDATION 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 BREAKOUT FOUNDATION 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 BREAKOUT FOUNDATION INC?
- The 990 for the year ended December 31, 2024 names MICHAEL FARBER.
- Who are the officers and directors of BREAKOUT FOUNDATION INC?
- The 990 for the year ended December 31, 2024 lists 3 people; 0 received compensation from the organization.
- How much revenue does BREAKOUT FOUNDATION INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $405,000, expenses of $200,430 and total assets of $248,293 at year end.
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