The Cubit Foundation Inc
- Assets
- $147.6k
- Revenue
- $457.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Monroe, GA
- Founding
- 07/1986
- Data as of
- 12/2023
- 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 12/2023, Cubit Foundation Inc generated $457.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (5.0%) each year. All expenses for the organization totaled $369.8k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (5.3%) per year over the past 7 years. 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
2023
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 |
|---|---|---|---|
Dr Ron Charles CEO | 40 | $0 | |
Brad Charles President | 0 | $0 | |
Paula Charles Secretary | 0 | $0 | |
Leanne Charles Treasurer | 0 | $0 | |
Kevin Deutsch Board Member | 0 | $0 | |
Kenny Thompson Board Member | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $432,570 |
| Interest on Savings | $25,251 |
| 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 | $0 |
| Total Revenue | $457,821 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $99,266 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $90 |
| Depreciation | $0 |
| Occupancy | $3,984 |
| Travel, conferences, and meetings | $32,894 |
| Printing and publications | $0 |
| Other expenses | $221,974 |
| Total operating and administrative expenses | $369,821 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $369,821 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $143,881 |
| 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 | $3,687 |
| Other assets | $0 |
| Total assets | $147,568 |
| 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 |
|---|---|
BETHLEHEM CHRISTIAN ACADEMY PURPOSE: EDUCATIONAL | $4,526 |
PRINCE AVENUE CHRISTIAN SCHOOL PURPOSE: EDUCATIONAL | $2,000 |
VICTORY CHRISTIAN FELLOWSHIP PURPOSE: HUMANITARIAN AID | $230 |
GREATER FAITH CHRISTIAN FELLOWSHIP PURPOSE: HUMANITARIAN AID | $2,200 |
ASSEMBLIES OF GOD PURPOSE: HUMANITARIAN AID | $1,200 |
BIG HEART ORPHANAGE PURPOSE: HUMANITARIAN AID | $8,250 |