1040 Initiative
- Assets
- $784.0k
- Revenue
- $118.9k
- Investments
- $0.0
- Employees
- 3
- Location
- Oklahoma City, OK
- Founding
- 04/2010
- Data as of
- 12/2023
- EIN
- 27-0659329
Organization Overview
1040 Initiative, operating under the name 1040i, is located in Oklahoma City, OK. The organization was established in 2010. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. As of 12/2023, 1040i employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. 1040i 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, 1040i generated $118.9k 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 (26.7%) each year. All expenses for the organization totaled $579.6k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE VISION OF 1040I IS TO TRANSFORM THE LIVES OF PEOPLE IN NEED BY FIGHTING PAIN AND SUFFERING IN THE MOST ISOLATED ON OUR GLOBE. THE PRIMARY FOCUS IS CENTERED ON HEALTH AND EDUCATION NEEDS BETWEEN 10 DEGREES AND 40 DEGREES NORTH OF THE EQUATOR SPANNING ACROSS NORTH AFRICA
Describe the Organization's Program Activity:
Part 3 - Line 4a
TANDA BILLINGUAL ACADEMY: IN 2020-2022 THE SCHOOL ENROLLED APPROXIMATELY 280 STUDENTS FROM GRADES 1-10. THE SCHOOL INSTRUCTS IN BOTH FRENCH AND ENGLISH, FOLLOWING THE IVORIAN EDUCATIONAL SYSTEM. FOR THE ELEMENTARY, WE HOLD THE FIRST-PLACE STATUS IN THE REGION FOR OUTSTANDING ACADEMIES AND A 100% SUCCESS RATE FOR THOSE TRANSITING INTO MIDDLE SCHOOL. 1040I OWNS THE ACADEMY FACILITIES AND OVERSEES THE STAFFING AND OPERATION OF THE ACADEMY. WE BEGAN THE CONSTRUCTION PROCESS OF THE HIGH SCHOOL FACILITY IN THE SUMMER OF 2022.
PROJECTS & TRIPS: THIS IS 1040S LARGEST PROGRAM. IN 2022, 1040I CONDUCTED A TRIP TO COTE DIVOIRE WITH 12 NORTH AMERICAN VOLUNTEERS. THE MEDICAL TEAM INCLUDED 10 IVORIANS AND 3 AMERICANS. FORTY-SIX HERNIA REPAIRS AND 56 CATARACT SURGERIES WERE PERFORMED ALONG WITH 200+ MEDICAL CONSULTATIONS IN 5 DAYS. A ROOF WAS REPLACED ON A SMALL VILLAGE STRUCTURE AND BICYCLE REPAIRS WERE ADDED TO OUR PROJECT THIS YEAR. THE PROJECT ALSO SHIFTED TO OUR SCHOOL WHERE OUR TEAM REPAIRED OVER 150 CHAIRS AND 100 DESKS, PAINTED BUILDINGS AND PERFORMED OTHER MAINTENANCE ON THE FACILITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Blaine Rogers Board Member | Trustee | 1 | $0 |
Tim Roland Board Member | Trustee | 1 | $0 |
Mike Cousineau President | Trustee | 55 | $0 |
Joe Vanbreeman Secretary | OfficerTrustee | 1 | $0 |
Rob Garibay Vice President | OfficerTrustee | 1 | $0 |
Mike Moran Treasurer | Officer | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $118,903 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $118,903 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $118,903 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $423,767 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $110,118 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,685 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $23,216 |
| Fees for services: Management | $937 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $165 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $161 |
| Total functional expenses | $579,591 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $154,369 |
| Savings and temporary cash investments | $196,663 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $432,994 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $784,026 |
| Accounts payable and accrued expenses | $263,002 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $263,002 |
| Net assets without donor restrictions | $521,024 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $784,026 |