Eight Cap Inc
- Assets
- $3.1m
- Revenue
- $17.2m
- Investments
- $0.0
- Employees
- 358
- Location
- Orleans, MI
- Founding
- 03/1966
- Data as of
- 09/2023
- EIN
- 38-6111652
Organization Overview
Eight Cap Inc is located in Orleans, MI. The organization was established in 1966. 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 09/2023, Eight Cap Inc employed 358 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Eight Cap 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 09/2023, Eight Cap Inc generated $17.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $17.3m during the year ending 09/2023. While expenses have increased by 2.7% per year over the past 8 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.
Since 2021, Eight Cap Inc has awarded 12 individual grants totaling $1,097,395. 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
EIGHTCAP, INC. IMPROVES OUR COMMUNITY BY COLLABORATING WITH PRIVATE, GOVERNMENT, AND COMMUNITY ORGANIZATIONS TO DELIVER PROGRAMS THAT ALLEVIATE THE CAUSES OF POVERTY AND ITS EFFECTS ALLOWING INDIVIDUALS TO BECOME SELF-SUFFICIENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CHILD EDUCATION ACTIVITIES - FUNDING FROM HEAD START & GREAT START READINESS PROGRAMS PROVIDED FOR MEDICAL, DENTAL, NUTRITION, AND EDUCATIONAL SERVICES TO PRESCHOOL AGED CHILDREN.
COMMUNITY SERVICES PROGRAMS PROVIDED LOW-INCOME/NO-INCOME HOUSEHOLDS WITH EMERGENCY FOOD, UTILITIES, SHELTER, TRANSPORTATION, MEDICAL, AND CLOTHING.
WEATHERIZATION PROGRAM/ENERGY ASSISTANCE PROVIDED FREE HOME ENERGY CONSERVATION SERVICES TO LOW-INCOME HOMEOWNERS AND RENTERS TO REDUCE ENERGY USE, LOWER UTILITY BILLS AND ENSURE A SAFE LIVING ENVIRONMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gary Tegge Board Member | Trustee | 2 | $0 |
Doug Mcfadden Chairperson | OfficerTrustee | 2 | $0 |
Renae Caudill Secretary | OfficerTrustee | 2 | $0 |
James Moreno Treasurer | OfficerTrustee | 2 | $0 |
Mindy Train Board Member - Partial Yea | Trustee | 2 | $0 |
Jennifer Cook Board Member | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Central Michigan University Head Start Collaborative Child Care Part | 9/29/22 | $169,701 |
Joanne Curtiss Emergency Shelter Provider | 9/29/22 | $107,575 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $16,973,035 |
| All other contributions, gifts, grants, and similar amounts not included above | $187,482 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $17,160,517 |
| Total Program Service Revenue | $81,070 |
| 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 | $17,241,587 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $243,566 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $263,337 |
| Compensation of current officers, directors, key employees. | $263,337 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $8,803,580 |
| Pension plan accruals and contributions | $253,937 |
| Other employee benefits | $1,796,597 |
| Payroll taxes | $879,701 |
| Fees for services: Management | $0 |
| 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 | $780,096 |
| Information technology | $169,644 |
| Royalties | $0 |
| Occupancy | $413,474 |
| Travel | $324,531 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $91,720 |
| Interest | $11,093 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $453,791 |
| Insurance | $169,417 |
| All other expenses | $116,450 |
| Total functional expenses | $17,296,158 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $381,173 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,247,831 |
| Accounts receivable, net | $25,000 |
| 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 | $259,967 |
| Net Land, buildings, and equipment | $986,270 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $209,098 |
| Total assets | $3,109,339 |
| Accounts payable and accrued expenses | $913,611 |
| Grants payable | $0 |
| Deferred revenue | $248,952 |
| 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 | $26,243 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $400,308 |
| Total liabilities | $1,589,114 |
| Net assets without donor restrictions | $1,222,911 |
| Net assets with donor restrictions | $297,314 |
| 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 | $3,109,339 |
Grants Awarded
Over the last fiscal year, Eight Cap Inc has awarded $243,566 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
HAVE MERCY PURPOSE: HOUSING PROGRAM PARTNERSHIP FOR EMERGENCY HOUSING TO QUALIFIED CLIENTS | $107,990 |
GRATIOT COUNTY HOPE HOUSE PURPOSE: HOUSING PROGRAM PARTNERSHIP FOR EMERGENCY HOUSING TO QUALIFIED CLIENTS | $85,157 |
ISABELLA COUNTY RESTORATION HOUSE PURPOSE: HOUSING PROGRAM PARTNERSHIP FOR EMERGENCY HOUSING TO QUALIFIED CLIENTS | $50,419 |