Passes our checks

False Profit Inc

EIN 46-5723196 · San Francisco, CA

Public records show a registered, tax-exempt organization in good standing.

What it says it does

False Profits primary exempt purpose is to provide cultural advancements through art, music, and education.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Strong: 93 out of 100. Higher than 78% of charities in its peer group (arts and culture, $250k to $1m).

Reserves
28 of 35
Spendable reserves would cover 7.2 months of spending.
Debt
20 of 20
It owes 0% of what it owns.
Living within its means
15 of 15
Income exceeded spending by 18% of income.
Income trend
15 of 15
Income rose 33% on the year before.
Spending floor
15 of 15
73% of spending went to programs and raising each dollar of donations cost 0 cents.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Fair: 67 out of 100. Higher than 43% of charities in its peer group (arts and culture, $250k to $1m).

Independent board
18 of 25
4 of 4 voting board members are independent.
Conflict of interest policy
15 of 15
Has a written conflict of interest policy.
Whistleblower policy
0 of 8
Reports no written whistleblower policy.
Record keeping policy
0 of 7
Reports no written policy on keeping and destroying records.
Board minutes
5 of 5
Keeps minutes of board meetings.
Board sees the tax return
10 of 10
Gave the board a copy of this return before filing it.
Independent check of accounts
6 of 15
Its accounts were not audited or reviewed by an independent accountant.
No reported misuse
10 of 10
Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (3)

$183,595 spent. 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.
$16,199 spent. 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.
$16,199 spent. 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.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Is it registered with the IRS? Passed.
Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
Has the IRS revoked its tax-exempt status? Passed.
Not on the IRS automatic revocation list.
Source: Automatic revocation of exemption list, Internal Revenue Service, file dated September 30, 2026.
Are donations tax-deductible? Passed.
On the IRS list of organizations eligible to receive tax-deductible contributions.
Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated September 10, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending December 2024.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since December 2015.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
Is it in good standing with state regulators? Passed.
Not on California's list of charities barred from soliciting. Other states are not yet checked.
Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 7, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.