Cygnet Foundation Inc
- Assets
- $341.3k
- Revenue
- $55.7k
- Investments
- $291.2k
- Employees
- 0
- Location
- New York, NY
- Founding
- 02/1998
- Data as of
- 12/2021
- EIN
- 13-3949429
Organization Overview
Cygnet Foundation Inc is located in New York, NY. The organization was established in 1998. According to its NTEE Classification (B80) the organization is classified as: Student Services, 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. Cygnet Foundation 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 12/2021, Cygnet Foundation Inc generated $55.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (16.1%) each year. All expenses for the organization totaled $21.8k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (21.4%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Cygnet Foundation Inc has awarded 119 individual grants totaling $317,218. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Raymond W Merritt Pres/ Director | 2 | $0 | |
Ralph Gibson Director | 1 | $0 | |
Raymond William Merritt Director | 1 | $0 | |
Kimberly Merritt Quinn Director | 1 | $0 | |
Carol Ann Merritt Vice Pres & Treasurer | 1 | $0 | |
Mary Jane Marcasiano Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $20,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $5,621 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $30,120 |
| Capital Gain Net Income | $30,120 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $55,741 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $19,682 |
| Total operating and administrative expenses | $19,795 |
| Contributions, gifts, grants paid | $2,000 |
| Total expenses and disbursements | $21,795 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $23,114 |
| Savings and temporary cash investments | $26,000 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $900 |
| Total assets | $341,250 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $29,962 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $29,962 |
Grants Awarded
Over the last fiscal year, Cygnet Foundation Inc has awarded $86,000 in support to 18 organizations.
| Grant Recipient | Amount |
|---|---|
New York, NY PURPOSE: TO HELP ORG. IN ITS EXEMPT FUNCTION | $20,000 |
New York, NY PURPOSE: TO HELP ORG. IN ITS EXEMPT FUNCTION | $20,000 |
Sag Harbor, NY PURPOSE: TO HELP ORGANIZATION IN ITS EXEMPT FUNCTION | $10,000 |
Sag Harbor, NY PURPOSE: TO HELP ORGANIZATION IN ITS EXEMPT FUNCTION | $10,000 |
BIG DOG RANCH RESCUE PURPOSE: TO PROVIDE SHELTER AND CARE TO HOMELESS AND UNWANTED DOGS | $6,000 |
BIG DOG RANCH RESCUE PURPOSE: TO PROVIDE SHELTER AND CARE TO HOMELESS AND UNWANTED DOGS | $6,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Cygnet Foundation Inc has recieved totaling $25,000.
| Awarding Organization | Amount |
|---|---|
Association Of Charles Evans Housing Foundation New York, NY PURPOSE: CHARITABLE GIVING | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Learning Lamp Inc Johnstown, PA | $5,123,554 | $8,804,669 |
West Chester University Student Services Inc West Chester, PA | $13,094,103 | $8,544,648 |
Student Association Inc California, PA | $24,020,549 | $6,805,716 |
Student Cooperative Association Inc Indiana, PA | $29,525,625 | $9,645,452 |
Albert Einstein College Of Medicine Staff Housing Company Inc Bronx, NY | $37,908,103 | $6,828,997 |
The Possible Project Inc Boston, MA | $20,628,656 | $12,891,174 |
Bernard M Baruch College Auxiliary Enterprises Corporation New York, NY | $2,835,381 | $7,073,623 |
The Boston Education Development Foundation Inc Roxbury, MA | $14,159,042 | $7,338,660 |
Shippensburg University Student Services Inc Shippensburg, PA | $2,959,085 | $3,291,326 |
University At Buffalo Student Association Inc Buffalo, NY | $6,243,803 | $4,544,119 |
Handz-On Inc Hartford, CT | $1,667,828 | $5,148,389 |
Empirical Resolution Inc New York, NY | $7,350,506 | $4,345,659 |