Cygnet Foundation Inc
- Assets
- $330.0k
- Revenue
- $2.5k
- Investments
- $315.3k
- Employees
- 0
- Location
- New York, NY
- Founding
- 02/1998
- Data as of
- 12/2023
- 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 12/2023, Cygnet Foundation Inc generated $2.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (40.4%) each year. All expenses for the organization totaled $21.2k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Cygnet Foundation Inc has awarded 117 individual grants totaling $292,008. 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 |
|---|---|---|---|
Ralph Gibson Secretary/treasurer | 2 | $0 | |
Kimberly Quinn Vice President | 2 | $0 | |
Raymond William Merritt President | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $153 |
| Dividends & Interest | $6,778 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$4,400 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $2,531 |
| 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 | $3,447 |
| Total operating and administrative expenses | $3,447 |
| Contributions, gifts, grants paid | $17,790 |
| Total expenses and disbursements | $21,237 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $13,766 |
| 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 | $329,978 |
| 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 $17,790 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
SUSAN G KOMEN BREAST CANCER FOUNDATION PURPOSE: TO HELP ORGANIZAION IN ITS EXEMPT FUNCTION | $1,000 |
RETI CENTER PURPOSE: TO HELP ORG. IN ITS EXEMPT FUNCTION | $500 |
LOYOLA UNIVERSITY PURPOSE: TO HELP ORG. IN ITS EXEMPT FUNCTION | $5,000 |
BATONGA FOUNDATION PURPOSE: TO HELP ORG. IN ITS EXEMPT FUNCTION | $500 |
THE BENJAMIN SCHOOL PURPOSE: TO HELP ORG. IN ITS EXEMPT FUNCTION | $2,000 |
DELBARTON SCHOOL PURPOSE: TO HELP ORGANIZATION IN ITS EXEMPT FUNCTION | $6,790 |