Cannabis In Equity Inc is located in Brookfield, WI. According to its NTEE Classification (I99) the organization is classified as: Crime & Legal-Related N.E.C., under the broad grouping of Crime & Legal-Related and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cannabis In Equity Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
HELPING THOSE DISADVANTAGED BY CONVICTION FOR NON-VIOLENT, MARIJUANA-RELATED CRIMES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION PROGRAM:A. THE ACTIVITY IS INTENDED TO SUPPORT QUALIFYING PERSONS BY MAKING AVAILABLE EDUCATIONAL CURRICULUM DESIGNED TO EQUIP SUCH QUALIFYING PERSONS WITH THE CAPABILITIES TO BECOME PRODUCTIVE CONTRIBUTORS TO THE LEGAL CANNABIS ECONOMY THROUGH INSTRUCTION AND TRAINING. THE CURRICULUM WILL BE DELIVERED VIA THE ORGANIZATION'S WEBSITE. IT WILL PRIMARILY FOCUS ON TWO AREAS: (I) ENTREPRENEURIAL SKILLS: INSTRUCTION AND TRAINING PERTAINING TO COMPLIANCE, PERMITTING, AND LICENSING (AND APPLICATION THEREFORE),AND BASIC FUNDAMENTALS OF ESTABLISHING, OWNING AND OPERATING A BUSINESS; AND (II) JOB READINESS AND SKILLS: JOB-SPECIFIC INSTRUCTION AND TRAINING FOR INDIVIDUALS INTERESTED IN SEEKING GAINFUL EMPLOYMENT WITH EXISTING CANNABIS RELATED BUSINESSES, AND INFORMATION RELEVANT TO ROLES AND OPPORTUNITIES IN THE CANNABIS INDUSTRY.B. THE ORGANIZATION INTENDS TO CONDUCT THE ACTIVITY BY RETAINING OR EMPLOYING CONSULTANTS AND PROFESSIONALS POSSESSING THE REQUISITE KNOWLEDGE AND EXPERTISE TO DESIGN AND DELIVER THE EDUCATIONAL CONTENT.C. THE ACTIVITY WILL BE CONDUCTED ONLINE.D. THE PERCENTAGE OF TOTAL TIME ALLOCATED TO THIS ACTIVITY IS EXPECTED TO BE APPROXIMATELY 40%.E. THE ACTIVITY IS FUNDED THROUGH DONATIONS. APPROXIMATELY 40% OF THE ORGANIZATION'S OVERALL EXPENSES ARE EXPECTED TO BE ALLOCATED TO THIS ACTIVITY.F. THE ACTIVITY FURTHERS THE ORGANIZATION'S EXEMPT PURPOSE OF PROVIDING INSTRUCTION AND TRAINING TO QUALIFYING PERSONS FOR THE PURPOSE OF IMPROVINGOR DEVELOPING THE CAPABILITIES, AND EQUIPPING AND EMPOWERING THEM WITH THE REQUISITE KNOWLEDGE AND SKILLS, NECESSARY TO GAIN ACCESS TO ECONOMIC OPPORTUNITIES IN THE LEGAL CANNABIS ECONOMY.
LEGAL AID PROGRAM:A. THE ACTIVITY IS A LEGAL AID PROGRAM THAT HELPS QUALIFYING PERSONS EXPUNGE QUALIFYING OFFENSES IN STATES THAT HAVE LEGALIZED OR DECRIMINALIZED THE RECREATIONAL USE OF CANNABIS. THE ORGANIZATION WILL DO SO IN TWO WAYS: (I) PARTNERING WITH LOCAL, COUNTY, AND STATE PROSECUTORS TO DEVELOP AND IMPLEMENT TECHNOLOGY DESIGNED TO AUTOMATICALLY CLEAR OR EXPUNGE QUALIFYING OFFENSES, AND (II) ASSIST QUALIFYING PERSONS SEEKING TO EXPUNGE QUALIFYING OFFENSES ON AN INDIVIDUAL BASIS.B. THE ORGANIZATION INTENDS TO CONDUCT THE ACTIVITY BY RETAINING OR EMPLOYING CONSULTANTS AND PROFESSIONALS POSSESSING THE REQUISITE KNOWLEDGE AND EXPERTISE.C. THE ACTIVITY WILL BE CONDUCTED IN STATES THAT HAVE LEGALIZED OR DECRIMINALIZED THE RECREATIONAL USE OF CANNABIS. THE ORGANIZATION WILL INITIALLY OFFER LEGAL AID PROGRAM SERVICES IN LOS ANGELES, CALIFORNIA, WITH THE INTENTION OF ULTIMATELY EXPANDING THE PROGRAM TO OTHER LOCALES IN CALIFORNIA AND IN OTHER JURISDICTIONS. THE ORGANIZATION INTENDS TO SECURE OFFICE SPACE IN LOS ANGELES, CALIFORNIA FOR USE BY ITS STAFF AND ADVISORS IN CARRYING OUT ITS CHARITABLE PURPOSES.D. THE PERCENTAGE OF TOTAL TIME ALLOCATED TO THIS ACTIVITY IS EXPECTED TO BE APPROXIMATELY 60%.E. THE ACTIVITY IS FUNDED THROUGH DONATIONS. APPROXIMATELY 60% OF THE ORGANIZATION'S OVERALL EXPENSES ARE EXPECTED TO BE ALLOCATED TO THIS ACTIVITY.F. THE ACTIVITY FURTHERS THE ORGANIZATION'S EXEMPT PURPOSE OF PROVIDING RELIEF TO POOR, DISTRESSED, OR UNDERPRIVILEGED INDIVIDUALS BY PROMOTING SOCIAL WELFARE, JUSTICE, AND EQUITY THROUGH THE PROVISION OF LEGAL AID PROGRAM SERVICES TO QUALIFYING PERSONS THAT, BY VIRTUE OF THEIR CONVICTION FOR A QUALIFYING OFFENSE, HAVE BEEN HARMED BY THE HISTORICALLY UNEVEN AND DISPARATE APPLICATION OF MARIJUANA-RELATED CRIMINAL LAWS PRIOR TO THE LEGALIZATION OR DECRIMINALIZATION OF MARIJUANA (E.G., THE CONVICTION HAS UNDERMINED THEIR ABILITY TO BECOME PRODUCTIVE CITIZENS BY HINDERING ACCESS TO HOUSING, ECONOMIC, EDUCATIONAL OR OTHER OPPORTUNITIES).
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Joshua Laterman Director, Chairman, President, Secretary | OfficerTrustee | 1 | $0 |
John Murry Treasurer | OfficerTrustee | 1 | $11,625 |
Melissa Krantz Director | Trustee | 1 | $0 |
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 | $250,000 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $250,000 |
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 | $250,000 |
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. | $11,625 |
Compensation of current officers, directors, key employees. | $11,625 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $0 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $0 |
Fees for services: Management | $0 |
Fees for services: Legal | $24,918 |
Fees for services: Accounting | $0 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $86,000 |
Advertising and promotion | $0 |
Office expenses | $1,130 |
Information technology | $100,166 |
Royalties | $0 |
Occupancy | $0 |
Travel | $0 |
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 | $823 |
Total functional expenses | $224,662 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $25,338 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $0 |
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 | $0 |
Total assets | $25,338 |
Accounts payable and accrued expenses | $0 |
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 | $0 |
Net assets without donor restrictions | $0 |
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 | $25,338 |
Total liabilities and net assets/fund balances | $25,338 |