The Redbone Inc
- Assets
- $317.2k
- Revenue
- $169.9k
- Investments
- $0.0
- Employees
- 3
- Location
- Islamorada, FL
- Founding
- 09/1990
- Data as of
- 12/2022
- EIN
- 65-0180140
Organization Overview
The Redbone Inc is located in Islamorada, FL. The organization was established in 1990. According to its NTEE Classification (G11) the organization is classified as: Single Organization Support, under the broad grouping of Voluntary Health Associations & Medical Disciplines and related organizations. As of 12/2022, Redbone Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Redbone 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 12/2022, Redbone Inc generated $169.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (19.9%) each year. All expenses for the organization totaled $169.3k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (20.6%) per year over the past 4 years. 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
ALL ACTIVITIES FOR RESEARCH AND TREATMENT OF CYSTIC FIBROSIS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RESEARCH AND TREATMENT OF CYSTIC FIBROSIS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Susan Ellis Secretary-Treasurer | OfficerTrustee | 40 | $27,500 |
William N Fox CPA Asst. Secretary | OfficerTrustee | 0 | $7,350 |
Graig Brewer President | OfficerTrustee | 0 | $0 |
Mike Myatt Vice-President | OfficerTrustee | 0 | $0 |
Marie Montgomery Director | Trustee | 0 | $0 |
Nelson Padron Director | Trustee | 0 | $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 | $42,486 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $42,486 |
| Total Program Service Revenue | $98,017 |
| Investment income | $19 |
| 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 | $169,868 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $10,000 |
| 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. | $27,500 |
| Compensation of current officers, directors, key employees. | $5,500 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $17,220 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $3,313 |
| Payroll taxes | $3,421 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,350 |
| 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 | $10,552 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $33,710 |
| Travel | $1,718 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,747 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,550 |
| All other expenses | $48,185 |
| Total functional expenses | $169,266 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $45,446 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $12,348 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $247,509 |
| Prepaid expenses and deferred charges | $1,905 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $10,000 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $317,208 |
| Accounts payable and accrued expenses | $471 |
| Grants payable | $5,000 |
| 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 | $70,518 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $75,989 |
| Net assets without donor restrictions | $99,758 |
| Net assets with donor restrictions | $141,461 |
| 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 | $317,208 |