Nonprofit · EIN 83-4240559
WORTHLESS FOUNDATION INC
Tax-exempt · NEW YORK, NY 10013
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $1,657,914 | $707,752 | $950,162 | $7,099,680 | $55,249 | $7,044,431 |
| December 31, 2024 | 990 (amended) | $977,606 | $888,906 | $88,700 | $6,115,991 | $18,832 | $6,097,159 |
| December 31, 2023 | 990 | $733,409 | $2,110,083 | -$1,376,674 | $9,011,506 | $3,067,487 | $5,944,019 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $1,321,105
- of which government grants
- $198,545
- Program service revenue
- $2,271
- Investment income
- $342,734
- Net gain from sales of assets
- -$27,702
- Net income from fundraising events
- -$8,196
- Other revenue
- -$8,196
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $17,685
- Other salaries and wages
- $194,523
- Salaries, compensation and benefits (total)
- $251,033
- Professional fundraising fees
- $0
- Legal fees
- $202
- Accounting fees
- $24,000
- Depreciation
- $7,990
- Program services (functional)
- $551,777
- Management and general (functional)
- $89,315
- Fundraising (functional)
- $66,660
Balance sheet and other
- Total assets, start of year
- $6,115,991
- Total assets, end of year
- $7,099,680
- Total liabilities, end of year
- $55,249
- Net assets, end of year
- $7,044,431
- Publicly traded securities
- $6,265,505
- Net assets without donor restrictions
- $5,985,912
- Net assets with donor restrictions
- $1,058,519
- Gross receipts
- $3,872,557
- Employees
- 6
- Volunteers
- 6
- Year formed
- 2019
- State of legal domicile
- NY
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, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| NEIL HAMAMOTO | PRESIDENT Trustee or director, Officer | 40 | $0 | $17,685 |
| DAVID HAMAMOTO | VICE PRESIDENT Trustee or director, Officer | 1 | $0 | $0 |
| MIKE FORMAN | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| JORDAN HUELSKAMP | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| BENJAMIN DEAN | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| ANN HARAKAWA | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| CHARLIE JARVIS | BOARD MEMBER (THROUGH 9/26) Trustee or director | 1 | $0 | $0 |
| ALLEN MURABAYASHI | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
990 for the year ended December 31, 2024: 7 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| NEIL HAMAMOTO | FOUNDER,PRESIDENT,CREATIVE DIRECTOR Trustee or director, Officer | 40 | $0 | $17,704 |
| DAVID HAMAMOTO | VICE PRESIDENT Trustee or director, Officer | 1 | $0 | $0 |
| MIKE FORMAN | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| JORDAN HUELSKAMP | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| ANN HARAKAWA | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| CHARLIE JARVIS | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| ALLEN MURABAYASHI | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
990 for the year ended December 31, 2023: 8 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| MARCIA SANTONI TO APR 2023 | EXECUTIVE DIRECTOR Officer | 40 | $318,270 | $112,480 |
| NEIL HAMAMOTO | FOUNDER,PRESIDENT,CREATIVE DIRECTOR Trustee or director, Officer | 30 | $0 | $18,550 |
| DAVID HAMAMOTO | VICE PRESIDENT Trustee or director, Officer | 0.25 | $0 | $0 |
| MIKE FORMAN | TREASURER Trustee or director, Officer | 0.25 | $0 | $0 |
| JORDAN HUELSKAMP | SECRETARY Trustee or director, Officer | 0.25 | $0 | $0 |
| ANN HARAKAWA | BOARD MEMBER Trustee or director | 0.25 | $0 | $0 |
| CHARLIE JARVIS | BOARD MEMBER Trustee or director | 0.25 | $0 | $0 |
| ALLEN MURABAYASHI | BOARD MEMBER Trustee or director | 0.25 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 11, NEW YORK, NY 10013-0011
- In care of
- % NEIL HAMAMOTO
- Principal officer (990 for 2025)
- NEIL HAMAMOTO, PO BOX 11, NEW YORK, NY 10013
- Signed the 990
- NEIL HAMAMOTO, FOUNDER AND PRESIDENT
- Phone
- (917) 576-3999
- Website
- WWW.WORTHLESSSTUDIOS.ORG
- Return prepared by
- LUTZ AND CARR CPAS LLP
Mission
TO PROMOTE THE ARTS AND SOCIAL WELFARE BY ENCOURAGING ECONOMIC DEVELOPMENT IN THE SECTOR OF ART AND OTHER CREATIVE ENDEAVORS, INCLUDING SCULPTURE, PAINTING, AND PHOTOGRAPHY AND PERFORMANCE, AND TO SUPPORT NEW, ASPIRING, OR EMERGING ARTISTS IN VARIOUS WAYS.
Program accomplishments
- PROVIDING SPACE, MATERIALS, TECHNICAL ASSISTANCE, AND RESOURCES FOR ASPIRING ARTISTS OF ALL BACKGROUNDS TO REALIZE THEIR CREATIVE VISIONS.Expenses $551,777 · revenue $2,271
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 | 990 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
- 83-4240559
- 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
- 2019
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Arts, culture and humanities (A25)
- Assets (IRS master file)
- $7,099,680
- Income (IRS master file)
- $3,872,557
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $1,657,914 | $707,752 | $7,099,680 | XML |
| 990 | December 2024 | $977,606 | $888,906 | $6,115,991 | XML |
| 990 | December 2023 | $733,409 | $2,110,083 | $9,011,506 | XML |
| 990 | December 2022 | $662,563 | $1,741,558 | $9,141,108 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | 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 83-4240559).
Questions about WORTHLESS FOUNDATION INC
- What is the EIN of WORTHLESS FOUNDATION INC?
- The employer identification number (EIN) of WORTHLESS FOUNDATION INC is 83-4240559.
- Is WORTHLESS FOUNDATION INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2019.
- Are donations to WORTHLESS FOUNDATION INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does WORTHLESS 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 WORTHLESS FOUNDATION INC due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did WORTHLESS FOUNDATION INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of WORTHLESS FOUNDATION INC?
- The 990 for the year ended December 31, 2025 names NEIL HAMAMOTO.
- Who are the officers and directors of WORTHLESS FOUNDATION INC?
- The 990 for the year ended December 31, 2025 lists 8 people; 0 received compensation from the organization.
- How much revenue does WORTHLESS FOUNDATION INC have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $1,657,914, expenses of $707,752 and total assets of $7,099,680 at year end.
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