THE DRIFT MAGAZINE FOUNDATION INC

EIN: 844943008 501(c)(3) Human Services

NEW YORK, NY

Total Revenue
$640,324
Total Expenses
$616,758
Total Assets
$278,274
Net Assets
$278,274
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2020
Legal Domicile
NY
Principal Officer
REBECCA PANOVKA
Phone
9176176243
Tax Period
2024-01-01 to 2024-12-31

THE DRIFT MAGAZINE FOUNDATION INC, founded in 2020, is a small nonprofit in the Human Services sector that reported $640K in total revenue in fiscal year 2024. Expenses of $617K left a modest 4% surplus.

Mission

THE DRIFT AIMS TO INTRODUCE NEW WORK AND NEW IDEAS BY YOUNG WRITERS WHO HAVENT YET BEEN ABSROBED INTO THE MEDIA HIVEMIND AND DONT FEEL HEMMED IN BY THE BOUNDARIES OF THE EXISTING DISCOURSE.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $371,942
Program Service Revenue $228,744
Investment Income $43
Other Revenue $39,595
TOTAL REVENUE $640,324

Expense Breakdown

Grants Paid $0
Salaries & Benefits $305,679
Fundraising Expenses $72,128
Program Expenses $423,945
Other Expenses $311,079
TOTAL EXPENSES $616,758

Year-over-Year Comparison

2024 2023 Change
Revenue $640,324 $607,264 +0.1%
Expenses $616,758 $579,518 +0.1%
Net Income $23,566 $27,746 -0.2%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
2
Independent Members
N/A
Employees
6
Volunteers
1

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
2
$78,181
Total Directors
2
$78,181
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KIARA BARROW CO-PRESIDENT/SECRETARY 40.00
Officer Director
$40,000 $0 $40,000
REBECCA PANOVKA CO-PRESIDENT/TREASURER 40.00
Officer Director
$38,181 $0 $38,181
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $640,324 $616,758 $278,274 $23,566
2023 $607,264 $579,518 $254,708 $27,746
2022 $471,991 $292,084 $226,962 $179,907
2022 $470,990 $261,913 $226,962 $209,077
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