Sound Business Inc
- Assets
- $32.8k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Newtown, PA
- Founding
- 07/1993
- Data as of
- 09/2021
- EIN
- 13-3719307
Organization Overview
Sound Business Inc is located in Newtown, PA. The organization was established in 1993. According to its NTEE Classification (B60) the organization is classified as: Adult Education, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sound Business Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2021, Sound Business Inc generated $152.7k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.2% each year. All expenses for the organization totaled $153.6k during the year ending 09/2021. While expenses have increased by 4.7% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3
SOUND BUSINESS, INC. (SBI) IS AN INDEPENDENT, NOT-FOR-PROFIT EDUCATION SERVICES CORPORATION THAT OFFERS PUBLICLY EDUCATED NEW YORK CITY HIGH SCHOOL STUDENTS AN OPPORTUNITY TO PREPARE THEMSELVES FOR THE PURSUIT OF PROFESSIONAL CAREERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles Thompson Executive Director | 2 | $0 | |
Stephen B Rycroft President | 2 | $0 | |
Cameron Toth Member | 2 | $0 | |
Christian Calienes Member | 2 | $0 | |
Kelly Downing Interim VP | 2 | $0 | |
Michelle Marsh Member | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $72,352 |
| Total Program Service Revenue | $68,832 |
| Membership dues | $0 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $11,500 |
| Total Revenue | $152,684 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $97,934 |
| Professional fees and other payments to independent contractors | $1,450 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $223 |
| Other expenses | $54,002 |
| Total expenses | $153,609 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $8,255 |
| Other assets | $0 |
| Total assets | $32,755 |
| Total liabilities | $221,110 |
| Net assets or fund balances | -$188,355 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Sound Business Inc has recieved totaling $3,056.
| Awarding Organization | Amount |
|---|---|
Ford Motor Co Fund Dearborn, MI PURPOSE: COMMUNITY NEEDS | $3,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $56 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Practising Law Institute New York, NY | $169,437,578 | $109,173,484 |
Lundeberg Maryland Seamanship School Inc Camp Springs, MD | $45,157,117 | $7,542,637 |
Umbc Training Enterprises Inc Columbia, MD | $4,982,165 | $14,677,321 |
Workforce Development Institute Inc Albany, NY | $2,796,326 | $10,204,057 |
United For Respect Education Fund Brooklyn, NY | $7,552,270 | $7,410,651 |
1st Street Foundation Inc Brooklyn, NY | $4,623,074 | $8,726,760 |
Local Union 164 Electrical Joint Apprenticeship And Training Trust Paramus, NJ | $19,017,559 | $4,299,279 |
Leading Edge Alliance Inc New York, NY | $10,397,327 | $8,264,467 |
Chronic Liver Disease Foundation Inc Clark, NJ | $1,027,147 | $3,658,520 |
Read To Lead Inc New York, NY | $3,901,385 | $3,177,958 |
Resource Training Center Inc Staten Island, NY | $1,509,183 | $2,732,050 |
Institute Of Classical Architecture And Art Inc New York, NY | $5,800,944 | $3,154,717 |