The Cubit Foundation Inc
- Assets
- $292.7k
- Revenue
- $785.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Monroe, GA
- Founding
- 07/1986
- Data as of
- 12/2020
- EIN
- 85-0338172
Organization Overview
The Cubit Foundation Inc is located in Monroe, GA. The organization was established in 1986. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cubit Foundation 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 12/2020, Cubit Foundation Inc generated $785.0k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.1% each year. All expenses for the organization totaled $729.3k during the year ending 12/2020. While expenses have increased by 5.1% per year over the past 6 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2020
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE FOOD AND WATER TO WIDOWS AND ORPHANS OF EGYPT, LIBYA AND SUDAN
SUPPORT OF LOCAL AND US MISSIONS
SUPPORT TO ORPHANAGE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ronal D Charles CEO | 40 | $25,246 | |
Leanne Charles Treasurer | 10 | $0 | |
Brad Charles President | 40 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $759,786 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $25,210 |
| Total Revenue | $784,996 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $116,257 |
| Pension plans, employee benefits | $5,557 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $11,119 |
| Occupancy | $217,875 |
| Travel, conferences, and meetings | $29,276 |
| Printing and publications | $0 |
| Other expenses | $322,231 |
| Total operating and administrative expenses | $729,329 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $729,329 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $272,467 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $20,277 |
| Other assets | $0 |
| Total assets | $292,744 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, The Cubit Foundation Inc has awarded $19,506 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
BIG HEART ORPHANAGE PURPOSE: HUMANITARIAN AID | $8,250 |
Bethlehem, GA PURPOSE: EDUCATIONAL | $4,526 |
GREATER FAITH CHRISTIAN FELLOWSHIP PURPOSE: HUMANITARIAN AID | $2,200 |
Bogart, GA PURPOSE: EDUCATIONAL | $2,000 |
ASSEMBLIES OF GOD PURPOSE: HUMANITARIAN AID | $1,200 |
Virginia Beach, VA PURPOSE: HUMANITARIAN AID | $1,100 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that The Cubit Foundation Inc has recieved totaling $1,500.
| Awarding Organization | Amount |
|---|---|
Carson Family Foundation Kildeer, IL PURPOSE: CONTRIBUTIONS ARE FOR UNRESTRICTED PURPOSES | $1,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Trousdale Foundation Inc Cleveland, TN | $157,578,588 | $76,137,385 |
The United Methodist Retirement Homes Inc Durham, NC | $351,992,425 | $85,120,969 |
The Murray & Sydell Rosenberg Foundation Inc Atlanta, GA | $5,561,714 | $74,985,544 |
Joseph B Whitehead Foundation Atlanta, GA | $148,285,590 | $58,163,845 |
Emergency Assistance Foundation Inc West Palm Beach, FL | $75,784,415 | $87,494,207 |
Winshape Foundation Inc Atlanta, GA | $1,733,664,901 | $22,099,572 |
A Good Name Foundation Inc Atlanta, GA | $709,299,721 | $33,917,740 |
Jane Woodruff Foundation Inc Atlanta, GA | $0 | $54,999,988 |
Truist Foundation Inc Orlando, FL | $535,253,915 | $119,578,224 |
Ups Foundation Inc Atlanta, GA | $8,317,427 | $54,799,163 |
Leslie L Alexander Foundation Delray Beach, FL | $372,501,228 | $8,282,313 |
Dogwood Health Trust Asheville, NC | $1,386,374,836 | $630,200,598 |