Cubanet News Inc
- Assets
- $252.2k
- Revenue
- $747.5k
- Investments
- $0.0
- Employees
- 5
- Location
- Coral Gables, FL
- Founding
- 04/1998
- Data as of
- 09/2023
- EIN
- 65-0615598
Organization Overview
Cubanet News Inc is located in Coral Gables, FL. The organization was established in 1998. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 09/2023, Cubanet News Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cubanet News 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, Cubanet News Inc generated $747.5k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.5% each year. All expenses for the organization totaled $790.2k during the year ending 09/2023. While expenses have increased by 4.4% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
FOUNDED IN 1994, CUBANET NEWS IS A NONPROFIT AND NON-PARTISAN ORGANIZATION THAT SEEKS THE CIRCULATON OF UNFETTERED INFORMATION AND THE DEVELOPMENT OF CUBA'S INDEPENDENT JOURNALISM. TO ACHIEVE ITS MISSION, CUBANET'S MAIN TOOLS ARE THE INDEPENDENT NEWS WEBSITE CUBANET.ORG CONSTANTLY UPDATED WITH POSTS SUBMITTED FROM CUBA AND ABROAD, OUR SOCIAL MEDIA MEDIA PRESENCE AND OUR PDF MAGANIZES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DRL - CUBANET IS SUPPORTED MAINLY BY 1 LARGE GRANTS GRANT USAID AND THE MAIN OBJECTIVE IS TO HELP INDEPENDENT JOURNALISTS IN CUBA TO REPORT THE REAL CUBAN REALITY AND THE VIOLATION OF HUMAN RIGHTS AND THUS HELP PROMOTE DEMOCRACY INSIDE THE ISLAND. CUBANET PROVIDES INFORMATION TO INTERNATIONAL COMMUNITY VIA INTERNET ARTICLES WRITTEN BY INDEPENDENT JOURNALIST IN CUBA.
INTERVIEWS - CUBANET IS SUPPORTED MAINLY BY 1 LARGE GRANTS GRANT USAID AND THE MAIN OBJECTIVE IS TO HELP INDEPENDENT JOURNALISTS IN CUBA TO REPORT THE REAL CUBAN REALITY AND THE VIOLATION OF HUMAN RIGHTS AND THUS HELP PROMOTE DEMOCRACY INSIDE THE ISLAND. CUBANET PROVIDES INFORMATION TO INTERNATIONAL COMMUNITY VIA INTERNET ARTICLES WRITTEN BY INDEPENDENT JOURNALIST IN CUBA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Roberto Hechavarria Executive Di | OfficerTrustee | 40 | $78,000 |
Jose Azel Board Member | Trustee | $0 | |
Hugo A Landa Board Member | Trustee | $0 | |
Alberto Mascaro Board Member | Trustee | $0 | |
Rolando Morelli Board Member | Trustee | $0 | |
Miguel Saludes Board Member | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $747,438 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $747,438 |
| Total Program Service Revenue | $0 |
| 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 | $747,451 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $226,128 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $20,775 |
| Payroll taxes | $16,211 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,608 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $126,727 |
| Advertising and promotion | $0 |
| Office expenses | $17,952 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $2,707 |
| Travel | $4,657 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $54 |
| Total functional expenses | $790,157 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $230,544 |
| Savings and temporary cash investments | $17,486 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,679 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,500 |
| Total assets | $252,209 |
| Accounts payable and accrued expenses | $17,316 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $17,316 |
| Net assets without donor restrictions | $234,893 |
| 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 | $252,209 |