Cycle Connect Inc
- Assets
- $425.4k
- Revenue
- $467.7k
- Investments
- $0.0
- Employees
- 2
- Location
- New York, NY
- Founding
- 01/2013
- Data as of
- 06/2022
- 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 06/2022, 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 06/2022, Cycle Connect Inc generated $467.7k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 16.3% each year . All expenses for the organization totaled $707.9k during the year ending 06/2022. 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
2022
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 |
|---|---|---|---|
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 |
Brett Earnest Director (to 07/21) | Trustee | 1 | $0 |
Gerald Farano Director (to 07/21) | Trustee | 1 | $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 | $467,379 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $467,379 |
| Total Program Service Revenue | $0 |
| Investment income | $285 |
| 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 | $467,664 |
| 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 | $474,746 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $65,772 |
| Compensation of current officers, directors, key employees. | $29,597 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,315 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $3,771 |
| Payroll taxes | $5,764 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $76 |
| Fees for services: Accounting | $40,908 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $5,026 |
| Advertising and promotion | $1,604 |
| Office expenses | $27 |
| Information technology | $4,801 |
| Royalties | $0 |
| Occupancy | $3,522 |
| Travel | $3,643 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $7,715 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $148 |
| Total functional expenses | $707,938 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $179,383 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $213,750 |
| 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 | $745 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $31,510 |
| Total assets | $425,388 |
| Accounts payable and accrued expenses | $3,010 |
| 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 | $228,961 |
| Other liabilities | $0 |
| Total liabilities | $231,971 |
| Net assets without donor restrictions | $193,417 |
| 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 | $425,388 |