Cycle Connect Inc
- Assets
- $1.1m
- Revenue
- $497.1k
- Investments
- $0.0
- Employees
- 2
- Location
- New York, NY
- Founding
- 01/2013
- Data as of
- 06/2021
- EIN
- 27-1175814
Organization Overview
Cycle Connect Inc is located in New York, NY. The organization was established in 2013. According to its NTEE Classification (Q33) the organization is classified as: International Relief, under the broad grouping of International, Foreign Affairs & National Security and related organizations. As of 06/2021, Cycle Connect Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cycle Connect 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 06/2021, Cycle Connect Inc generated $497.1k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 33.1% each year . All expenses for the organization totaled $476.2k during the year ending 06/2021. While expenses have increased by 38.0% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO ENABLE OUR CLIENTS TO INVEST IN THEIR FUTURE TO PROPEL THEMSELVES AND THEIR FAMILIES FORWARD
Describe the Organization's Program Activity:
Part 3 - Line 4a
DISTRIBUTING LEASE-TO-OWN PRODUCTIVE ASSETS TO SMALLHOLDER FARMERS IN UGANDA. IN THE FISCAL YEAR, WE REACHED MORE THAN 3,200 FAMILIES ACROSS NORTHERN UGANDA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Molly Burke Executive Director | Officer | 40 | $44,437 |
William Morrow Board Chair | OfficerTrustee | 2 | $0 |
Dick Muyambi Treasurer | OfficerTrustee | 1 | $0 |
Erick Davis Director | Trustee | 1 | $0 |
Kathryn Dutile Director | Trustee | 1 | $0 |
Gerald Farano Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $16,882 |
| All other contributions, gifts, grants, and similar amounts not included above | $480,173 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $497,055 |
| 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 | $497,055 |
| 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 | $284,000 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $56,701 |
| Compensation of current officers, directors, key employees. | $17,201 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $28,365 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $963 |
| Payroll taxes | $5,198 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $74 |
| Fees for services: Accounting | $48,163 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $29,805 |
| Advertising and promotion | $646 |
| Office expenses | $397 |
| Information technology | $4,841 |
| Royalties | $0 |
| Occupancy | $914 |
| Travel | $112 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $8,124 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $500 |
| All other expenses | $0 |
| Total functional expenses | $476,208 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $283,461 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $371,270 |
| Accounts receivable, net | $454,978 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,662 |
| Total assets | $1,115,371 |
| Accounts payable and accrued expenses | $28,059 |
| 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 | $171,143 |
| Other liabilities | $0 |
| Total liabilities | $199,202 |
| Net assets without donor restrictions | $916,169 |
| 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 | $1,115,371 |
Grants Recieved
Over the last fiscal year, we have identified 12 grants that Cycle Connect Inc has recieved totaling $400,712.
| Awarding Organization | Amount |
|---|---|
Charities Aid Foundation America Alexandria, VA PURPOSE: CHARITABLE DONATION | $76,451 |
Pace-Able Private Foundation San Francisco, CA PURPOSE: GENERAL SUPPORT | $50,000 |
Mulago Foundation New York, NY PURPOSE: RELIEF TO THE POOR | $50,000 |
Forster-Connolly Foundation Washington, DC PURPOSE: CHARITABLE | $50,000 |
Posner Foundation Of Pittsburgh Pittsburgh, PA PURPOSE: UNRESTRICTED/ GENERAL USE | $40,000 |
Segal Family Foundation Inc Warren, NJ PURPOSE: CHARITABLE PURPOSE | $38,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Abrahams Blessing Albany, NY | $1,941,159 | $28,861,670 |
Planet Aid Inc Milford, MA | $17,464,781 | $29,818,126 |
Wateraid America Inc New York, NY | $16,422,746 | $24,856,015 |
Christian Relief International Lancaster, PA | $46,193,710 | $37,368,118 |
Tov Vchesed Foundation Inc Monsey, NY | $610,324 | $14,594,457 |
Kolel Shomre Hachomos Of Jerusalem Inc Brooklyn, NY | $8,417,391 | $12,158,295 |
Marys Meals Usa Inc Bloomfield, NJ | $3,234,334 | $9,784,357 |
We Charity Williamsville, NY | $15,990,436 | $8,510,977 |
Big Heart Foundation Inc Clifton, NJ | $8,754,377 | $8,531,455 |
Grassroots International Inc Boston, MA | $13,759,969 | $12,517,391 |
Afsnc Inc New York, NY | $3,029,853 | $9,756,195 |
Alima Usa Inc New York, NY | $6,341,096 | $6,115,397 |