Cygnus Management Foundation Inc
- Assets
- $1.0m
- Revenue
- $46.3k
- Investments
- $933.9k
- Employees
- 0
- Location
- Syracuse, NY
- Founding
- 10/1981
- Data as of
- 12/2023
- EIN
- 22-2353455
Organization Overview
Cygnus Management Foundation Inc is located in Syracuse, NY. The organization was established in 1981. 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. Cygnus Management 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, Cygnus Management Foundation Inc generated $46.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (9.9%) each year. All expenses for the organization totaled $54.8k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (6.7%) per year over the past 5 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Cygnus Management Foundation Inc has awarded 52 individual grants totaling $140,700. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James F Poole Jr President, As Required | 1 | $0 | |
David Panasci Vice President, As Require | 1 | $0 | |
Warren D Wolfson Sec/treasurer, As Required | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $66 |
| Dividends & Interest | $22,348 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $23,872 |
| Capital Gain Net Income | $23,872 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $46,286 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $2,230 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $1,527 |
| Total operating and administrative expenses | $18,724 |
| Contributions, gifts, grants paid | $36,100 |
| Total expenses and disbursements | $54,824 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,083 |
| 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 | $0 |
| Other assets | $63,584 |
| Total assets | $1,003,616 |
| 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, Cygnus Management Foundation Inc has awarded $36,100 in support to 14 organizations.
| Grant Recipient | Amount |
|---|---|
ALZHEIMER'S ASSOCIATION PURPOSE: GENERAL PURPOSES | $1,000 |
AMERICAN RED CROSS PURPOSE: GENERAL PURPOSES | $3,000 |
CAMP GOOD DAYS PURPOSE: GENERAL PURPOSES | $1,000 |
CHABAD HOUSE PURPOSE: GENERAL PURPOSES | $3,600 |
FOUNDATION AT MENORAH PARK PURPOSE: GENERAL PURPOSES | $3,500 |
CROUSE HEALTH FOUNDATION PURPOSE: GENERAL PURPOSES | $1,500 |