Argonaut
- Assets
- $308.0k
- Revenue
- $417.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Cleveland, OH
- Founding
- 02/2012
- Data as of
- 06/2022
- EIN
- 45-0833007
Organization Overview
Argonaut is located in Cleveland, OH. The organization was established in 2012. According to its NTEE Classification (M23) the organization is classified as: Search & Rescue Squads, under the broad grouping of Public Safety, Disaster Preparedness & Relief and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Argonaut 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, Argonaut generated $417.7k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 16.8% each year . All expenses for the organization totaled $614.0k during the year ending 06/2022. While expenses have increased by 24.7% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO BREAK THE CYCLE OF POVERTY AND INCREASE EQUITY IN EDUCATION BY PROVIDING HANDS-ON EXPERIENTIAL LEARNING OPPORTUNITIES AND WORK EXPERIENCE FOR YOUTH INTERESTED IN EXPLORING CAREERS IN AEROSPACE AND MARITIME.
Describe the Organization's Program Activity:
Part 3 - Line 4a
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Ferguson CEO | OfficerTrustee | 40 | $0 |
Annemarie Grassi Amefia COO | OfficerTrustee | 40 | $0 |
Eric Peace President | OfficerTrustee | 3 | $0 |
Jocelyn Harrison Vice Preside | OfficerTrustee | 3 | $0 |
Ron Cordaro Treasurer | OfficerTrustee | 3 | $0 |
Steve Peplin Corresponden | OfficerTrustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $98,893 |
| All other contributions, gifts, grants, and similar amounts not included above | $230,343 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $329,236 |
| Total Program Service Revenue | $39,551 |
| Investment income | $2 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $25,799 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $417,671 |
| 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 | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $104,910 |
| Compensation of current officers, directors, key employees. | $15,737 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $169,631 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $19,057 |
| Payroll taxes | $31,315 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $47,618 |
| Office expenses | $8,425 |
| Information technology | $3,615 |
| Royalties | $0 |
| Occupancy | $18,231 |
| Travel | $7,980 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $16,532 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $32,466 |
| Insurance | $11,852 |
| All other expenses | $16,248 |
| Total functional expenses | $614,010 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $168,683 |
| Savings and temporary cash investments | $2,458 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $30,904 |
| 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 | $23,506 |
| Net Land, buildings, and equipment | $82,455 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $308,006 |
| Accounts payable and accrued expenses | $77,965 |
| 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 | $269,185 |
| Unsecured mortgages and notes payable | $16,107 |
| Other liabilities | $9,150 |
| Total liabilities | $372,407 |
| Net assets without donor restrictions | -$115,361 |
| Net assets with donor restrictions | $50,960 |
| 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 | $308,006 |