The Fly Initiative
- Assets
- $61.4k
- Revenue
- $42.7k
- Investments
- $0.0
- Employees
- 8
- Location
- Cranston, RI
- Founding
- 08/2014
- Data as of
- 12/2022
- EIN
- 46-4897451
Organization Overview
The Fly Initiative is located in Cranston, RI. The organization was established in 2014. According to its NTEE Classification (P80) the organization is classified as: Centers to Support the Independence of Specific Populations, under the broad grouping of Human Services and related organizations. As of 12/2022, Fly Initiative employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fly Initiative 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 12/2022, Fly Initiative generated $42.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (69.7%) each year. All expenses for the organization totaled $435.5k during the year ending 12/2022. 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
PROVIDE EDUCATIONAL SERVICES AND PROGRAMS TO TEACH FINANCIAL LITERACY TO YOUTH AND OTHER STAKEHOLDERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION OF FINANCIAL LITERACY FOR ALL AGES USING PROGRAM MATERIALS AND CURRICULUM
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marcy Reyes CEO | Officer | 30 | $42,568 |
Lilia Kirtley Holt President | OfficerTrustee | $0 | |
John Kashmanian Treasurer | OfficerTrustee | $0 | |
Adrian Medina Director | Trustee | $0 | |
Joshua Myers Director | Trustee | $0 | |
Lammis Vargas Director | Trustee | $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 | $31,363 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $31,363 |
| Total Program Service Revenue | $11,350 |
| 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 | $42,713 |
| 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. | $42,568 |
| Compensation of current officers, directors, key employees. | $42,568 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $232,483 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,113 |
| Payroll taxes | $22,633 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $19,000 |
| 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 | $3,320 |
| Advertising and promotion | $6,901 |
| Office expenses | $12,412 |
| Information technology | $6,908 |
| Royalties | $0 |
| Occupancy | $737 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,741 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,226 |
| Insurance | $1,509 |
| All other expenses | $82 |
| Total functional expenses | $435,477 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $54,947 |
| Savings and temporary cash investments | $0 |
| 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 | $6,444 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $61,391 |
| Accounts payable and accrued expenses | $0 |
| 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 | $27,960 |
| Other liabilities | $0 |
| Total liabilities | $27,960 |
| Net assets without donor restrictions | $33,431 |
| 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 | $61,391 |