Form 990 for tax year 2022

Filed by CAPITAL & MAIN.

Totals

Total revenue: $3,066,722
Total expenses: $2,364,828
Contributions and grants received: $3,041,254
Grants paid: $0
Program service revenue: $0
Investment income: $0
Other revenue: $25,468
Total assets, end of year: $1,899,295
Total liabilities, end of year: $464,689
Net assets or fund balances, end of year: $1,434,606
Program services expenses (Part IX): $2,038,982
Management and general expenses: $167,198
Fundraising expenses: $158,648
Program service expenses (Part III): $2,038,982

Program services were 86.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

1c · Fundraising events

$122,471
1f · All other contributions, gifts and grants

$2,918,783
6a · Gross rents

real property $22,000
6b · Less rental expenses

real property $0
6c · Rental income or loss

real property $22,000
6d · Net rental income or loss

total $22,000 · excluded $22,000
8a · Fundraising events: gross income

$100,487
8a · Fundraising events: contributions included on line 1c

$122,471
8b · Fundraising events: direct expenses

$100,487
8c · Net income from fundraising events

total $0
11a · Other revenue: OTHER INCOME

total $3,468 · excluded $3,468
11e · Other revenue, total

$3,468

Functional expenses

Part IX, the statement of functional expenses.

5 · Compensation of officers, directors and key employees

total $287,953 · program services $226,279 · management and general $29,831 · fundraising $31,843
7 · Other salaries and wages

total $630,865 · program services $508,293 · management and general $54,402 · fundraising $68,170
8 · Pension plan contributions

total $22,923 · program services $16,464 · management and general $3,727 · fundraising $2,732
9 · Other employee benefits

total $98,690 · program services $70,884 · management and general $16,045 · fundraising $11,761
10 · Payroll taxes

total $65,889 · program services $53,206 · management and general $5,629 · fundraising $7,054
11b · Fees: legal

total $53,294 · program services $53,294
11c · Fees: accounting

total $10,960 · program services $4,384 · management and general $6,576
11g · Fees: other

total $703,975 · program services $686,833 · management and general $10,517 · fundraising $6,625
13 · Office expenses

total $56,457 · program services $43,808 · management and general $10,248 · fundraising $2,401
16 · Occupancy

total $212,196 · program services $179,099 · management and general $20,365 · fundraising $12,732
17 · Travel

total $27,617 · program services $27,617
19 · Conferences, conventions and meetings

total $13,440 · program services $13,440
22 · Depreciation, depletion and amortization

total $8,536 · program services $7,682 · management and general $854
23 · Insurance

total $15,681 · program services $10,046 · management and general $4,917 · fundraising $718
24a · Other expenses: PRINTING & GRAPHIC DESI

total $46,280 · program services $46,280
24b · Other expenses: PUBLIC INFORMATION

total $39,089 · program services $39,089
24c · Other expenses: DUES & SUBSCRIPTION

total $28,844 · program services $28,844
24d · Other expenses: FURNITURE & EQUIPMENT

total $21,586 · program services $19,124 · management and general $2,462
24e · All other expenses

total $20,553 · program services $4,316 · management and general $1,625 · fundraising $14,612

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $718,121 · end of year $1,343,721
3 · Pledges and grants receivable

beginning of year $17,087 · end of year $122,822
9 · Prepaid expenses and deferred charges

beginning of year $13,445 · end of year $900
10a · Land, buildings and equipment: cost or other basis

$42,306
10b · Land, buildings and equipment: accumulated depreciation

$25,754
10c · Land, buildings and equipment, net

beginning of year $9,515 · end of year $16,552
15 · Other assets

beginning of year $35,879 · end of year $415,300
17 · Accounts payable and accrued expenses

beginning of year $61,335 · end of year $77,657
19 · Deferred revenue

end of year $2,000
25 · Other liabilities

beginning of year $0 · end of year $385,032
27 · Net assets without donor restrictions

beginning of year $287,443 · end of year $411,139
28 · Net assets with donor restrictions

beginning of year $445,269 · end of year $1,023,467

Mission and programs · 2022

Mission

TO PRODUCE INVESTIGATIVE REPORTING, NEWS FEATURES, AND ANALYSIS ON ISSUES SUCH AS ECONOMIC INEQUALITY, CLIMATE CHANGE, RENEWABLE ENERGY, HEALTH CARE, AND GOVERNMENT OUTSOURCING.

CAPITAL & MAIN IS AN AWARD-WINNING, IMPACT-DRIVEN NONPROFIT PUBLICATION THAT PRODUCES FACT-BASED REPORTING ON TWO OF THE GREATEST CHALLENGES OF OUR TIME: INEQUALITY AND CLIMATE CHANGE. THROUGH COVERAGE OF ECONOMIC AND POLITICAL POWER, AND REPORTING THAT REFLECTS A DIVERSE SET OF VOICES, WE INFORM AND INFLUENCE THE PUBLIC CONVERSATION. CAPITAL & MAIN PUBLISHED THE LARGEST AMERICAN REPORTING PROJECT OF 2020 ON ECONOMIC INEQUALITY, WITH 100 ORIGINAL STORIES. THAT SAME YEAR CAPITAL & MAIN LAUNCHED "THE SLICK," ONE OF THE MOST AMBITIOUS CLIMATE REPORTING EFFORTS IN THE COUNTRY. "THE SLICK" INVESTIGATES THE INFLUENCE OF THE OIL AND GAS INDUSTRY ON CLIMATE POLICY IN THE LARGEST FOSSIL FUEL-PRODUCING STATES. IN 2022 CAPITAL & MAIN ALSO PUBLISHED A MAJOR REPORTING PROJECT ON THREATS TO DEMOCRACY. CAPITAL & MAIN'S REPORTING HAS LED TO A WIDE RANGE OF IMPACTS. AN INVESTIGATION OF LEAD CONTAMINATION DIRECTLY TRIGGERED THE DRAFTING AND PASSAGE OF LEGISLATION TO STRENGTHEN PROTECTIONS FOR WORKERS IN CALIFORNIA. OUR INVESTIGATION INTO ANDREW PUZDER, DONALD TRUMP'S FIRST LABOR SECRETARY NOMINEE, PLAYED A CRITICAL ROLE IN PUZDER WITHDRAWING HIS NOMINATION. CAPITAL & MAIN'S REPORTING ON A HIGH-STAKES COLORADO BALLOT MEASURE FUNDED BY THE OIL AND GAS INDUSTRY CONTRIBUTED TO THAT MEASURE'S DEFEAT, AND OUR COVERAGE OF THE OIL AND GAS INDUSTRY IN NEW MEXICO LED TO LARGE FINES AGAINST TWO FOSSIL FUEL COMPANIES. CAPITAL & MAIN'S STORIES ARE CO-PUBLISHED IN DOZENS OF NATIONAL AND REGIONAL OUTLETS, INCLUDING USA TODAY, THE GUARDIAN, ROLLING STONE, FORTUNE, FAST COMPANY, NEWSWEEK, THE AMERICAN PROSPECT AND MANY OTHERS. OUR COVERAGE IS FREQUENTLY CITED BY THE LOS ANGELES TIMES, THE NEW YORK TIMES, POLITICO AND OTHER LEADING PUBLICATIONS. CAPITAL & MAIN'S STORIES ARE ALSO CO-PUBLISHED IN A LARGE NUMBER OF OUTLETS THAT SERVE A DIVERSE RANGE OF COMMUNITIES, AND ARE WIDELY READ AND DISTRIBUTED BY GRASSROOTS LEADERS AND POLICY EXPERTS.IN THE PAST FIVE YEARS, CAPITAL & MAIN HAS WON MORE THAN 200 AWARDS, INCLUDING A BEST IN THE WEST PRIZE AND SEVERAL AWARDS FROM THE SOCIETY FOR ADVANCING BUSINESS EDITING AND WRITING.

Expenses $2,038,982

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

DANNY FEINGOLD

EXECUTIVE DIRECTOR

Total calculated

$184,876

From this org

$148,883

From related orgs

$0

Other

$35,993

Hours/week

48

Schedule J breakdown matched by us

Base

$148,883

Bonus

$0

Other

$0

Deferred

$7,444

Nontaxable benefits

$28,549

Filer's total

$184,876
DIANA BUCKHANTZ

SECRETARY

Total calculated

$0

Hours/week

1
ERIN AUBRY KAPLAN

CHAIR

Total calculated

$0

Hours/week

1
AARON DORFMAN

CO-CHAIR

Total calculated

$0

Hours/week

1
HAROLD MEYERSON

DIRECTOR

Total calculated

$0

Hours/week

1
ALIA GRIFFING

DIRECTOR

Total calculated

$0

Hours/week

1
COLE FRATES

DIRECTOR

Total calculated

$0

Hours/week

1
KEITH PACE

DIRECTOR

Total calculated

$0

Hours/week

1
REBECCA ZOGLMAN

DIRECTOR

Total calculated

$0

Hours/week

1
RICK WARTZMAN

DIRECTOR

Total calculated

$0

Hours/week

1
JOSEPH BRYANT

DIRECTOR

Total calculated

$0

Hours/week

1
MORRIS PEARL

DIRECTOR

Total calculated

$0

Hours/week

1
RUBIT ORZOCO

FINANCE AND ADMIN DIRECTOR

Total calculated

$103,077

From this org

$73,586

From related orgs

$0

Other

$29,491

Hours/week

40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

3 · Compensation survey or study
3 · Approval by the board or compensation committee

Answered no

4a · Severance or change-of-control payment
4b · Supplemental nonqualified retirement plan
4c · Equity-based compensation arrangement
5a · Pay contingent on this organization's revenues
5b · Pay contingent on a related organization's revenues
6a · Pay contingent on this organization's net earnings
6b · Pay contingent on a related organization's net earnings
7 · Other non-fixed payments
8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3: CAPITAL & MAIN'S BOARD OF DIRECTORS HAS A PROCESS FOR REVIEWING AND APPROVING THE COMPENSATION OF THE EXECUTIVE DIRECTOR ON A REGULAR BASIS TO DETERMINE IT IS FAIR AND REASONABLE WITH THE GOAL OF RETAINING EMPLOYEES AT COMPENSATION LEVELS WITHIN APPROPRIATE MARKET RANGE. THE PROCESS FOR DETERMINING THE COMPENSATION PAID TO THE EXECUTIVE DIRECTOR INCLUDES THE APPROVAL OF THE COMPENSATION ARRANGEMENT IN ADVANCE, BY THE BOARD OF DIRECTORS, WITH ALL PERSONS WITH A CONFLICT OF INTEREST ABSTAINING FROM THE BOARD'S DELIBERATION AND DISCUSSION. THE BOARD REVIEWS DATA OF COMPARABLE COMPENSATION FOR SIMILARLY QUALIFIED NONPROFIT EXECUTIVES AT SIMILARLY SITUATED ENTITIES. THE DOCUMENTATION OF THE BOARD INCLUDES THE TERMS OF THE TRANSACTION AND THE DATE OF APPROVAL, THE MEMBERS WHO WERE PRESENT DURING THE DEBATE AND VOTE ON THE TRANSACTION, A DESCRIPTION OF THE COMPARABLE DATA AND HOW IT WAS OBTAINED, AND DOCUMENTATION OF THE BASIS FOR THE DETERMINATION.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type: form_990
Tax year: 2022
Filed: 7 November 2023
IRS schema version: 2022v5.0
Source object: 202303139349305405

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