Resound Corporation
- Assets
- $802.9k
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 14
- Location
- Colorado Springs, CO
- Founding
- 09/2003
- Data as of
- 09/2022
- EIN
- 84-1529992
Organization Overview
Resound Corporation is located in Colorado Springs, CO. The organization was established in 2003. According to its NTEE Classification (Q30) the organization is classified as: International Development, under the broad grouping of International, Foreign Affairs & National Security and related organizations. As of 09/2022, Resound Corporation employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Resound Corporation 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 09/2022, Resound Corporation generated $1.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.6% each year . All expenses for the organization totaled $1.2m during the year ending 09/2022. While expenses have increased by 11.1% per year over the past 7 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
RECRUITING AND PLACING SKILLED PROFESSIONALS IN SITUATIONS THAT EQUIP AND ENABLE RESIDENTS TO IMPROVE THEIR QUALITY OF LIFE AND THAT OF THEIR COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROGRAM 99180002: LEADERSHIP AND CHARACTER DEVELOPMENT WITH CHINESE YOUTH THROUGH YOUTH EXPLORERS PROGRAM BEING DEVELOPED THROUGHOUT CHINA.
PROGRAM 99110377: TRAINING IN INTERCULTURAL COMMUNICATION FOR CHINESE ENGAGING INTERCULTURALLY AS PART OF THE CHINESE ONE BELT/ONE ROAD INITIATIVE.
PROGRAM 99180003: LEADERSHIP AND CHARACTER DEVELOPMENT THROUGH COACHING YOUTH IN BASKETBALL. DIRECTING THE GLOBAL BASKETBALL ARM OF GLOBAL SPORTS PARTNERS, A COMPANY WHICH CONNECTS SKILLED SPORTS PROFESSIONALS WITH NEEDS ON CLUB TEAMS AROUND THE WORLD.
PROVIDING PRINCIPLE BASED LEADERSHIP TO THE LOCAL COMMUNITY. SUPPORTING LOCAL NGOS WITH CLEAN WATER AND SANITATION PROJECTS; PROVIDING VOCATIONAL TRAINING FOR REFUGEE COMMUNITIES; SUPPORTING LOCAL ECONOMIES THROUGH ENTREPRENEURIAL BUSINESS STARTUPS; PROVIDING EDUCATION AND HEALTH RELATED RESOURCES TO ECONOMICALLY DISADVANTAGED COMMUNITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joshua Kruse President | Officer | 40 | $75,949 |
Roderick Beidler Board Chairman | OfficerTrustee | 1 | $0 |
Richard Grady Secretary | OfficerTrustee | 4 | $0 |
Donnell R Sanford Treasurer | OfficerTrustee | 4 | $0 |
Rick Heupel Board Member | Trustee | 1 | $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 | $1,314,962 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,314,962 |
| Total Program Service Revenue | $0 |
| Investment income | -$3,455 |
| 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 | $1,311,507 |
| 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 | $69,200 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $75,949 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $525,412 |
| Pension plan accruals and contributions | $42,201 |
| Other employee benefits | $142,445 |
| Payroll taxes | $56,381 |
| Fees for services: Management | $42,072 |
| Fees for services: Legal | $10,517 |
| Fees for services: Accounting | $52,590 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $28,721 |
| Office expenses | $10,531 |
| Information technology | $453 |
| Royalties | $0 |
| Occupancy | $3,658 |
| Travel | $67,591 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,198 |
| Interest | $9,688 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,654 |
| Insurance | $16,293 |
| All other expenses | $0 |
| Total functional expenses | $1,195,520 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $576,694 |
| Savings and temporary cash investments | $95,540 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $48,348 |
| 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 | $82,345 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $802,927 |
| Accounts payable and accrued expenses | $13,556 |
| 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 | $13,556 |
| Net assets without donor restrictions | $190,733 |
| Net assets with donor restrictions | $598,638 |
| 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 | $802,927 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Resound Corporation has recieved totaling $56,913.
| Awarding Organization | Amount |
|---|---|
National Christian Charitable Foundation Inc Alpharetta, GA PURPOSE: POVERTY | $26,668 |
Schwab Charitable Fund San Francisco, CA PURPOSE: INTERNATIONAL, FOREIGN AFFAIRS | $18,245 |
The New Horizons Foundation Inc Colorado Springs, CO PURPOSE: PROGRAM SUPPORT | $6,000 |
T Rowe Price Program For Charitable Giving Inc Baltimore, MD PURPOSE: GENERAL OPERATING | $6,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
English Language Institute In China Fort Collins, CO | $10,835,190 | $18,809,399 |
Doterra Healing Hands Foundation Pleasant Grove, UT | $7,231,777 | $11,842,718 |
Reach Now International Inc Tulsa, OK | $23,892 | $8,518,045 |
Esperanca Inc Phoenix, AZ | $5,441,350 | $6,254,159 |
Engineers Without Borders Usa Inc Denver, CO | $11,070,406 | $9,132,500 |
Bridges To Prosperity Inc Denver, CO | $3,237,840 | $5,375,826 |
Blessings International Broken Arrow, OK | $7,020,981 | $3,899,748 |
World Neighbors Inc Oklahoma City, OK | $13,374,018 | $3,387,870 |
Center For Humanitarian Outreach And Intercultural Exchange West Jordan, UT | $2,351,499 | $3,610,441 |
Resource Exchange International Inc Colorado Springs, CO | $1,558,644 | $2,699,070 |
Mountainchild Inc Parker, CO | $2,969,952 | $2,168,702 |
Womens International Network For Guatemalan Solutions Inc Pueblo, CO | $1,992,400 | $1,829,087 |