Resound Corporation
- Assets
- $705.5k
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 18
- Location
- Colorado Springs, CO
- Founding
- 09/2003
- Data as of
- 09/2023
- 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 09/2023, Resound Corporation employed 18 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 09/2023, Resound Corporation generated $1.2m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $1.3m during the year ending 09/2023. While expenses have increased by 5.4% per year over the past 4 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
2023
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 99110360: LEADING YOUTH SPORT PROGRAMS, EMPHASIZING CHARACTER DEVELOPMENT FOR LIFE TRANSFORMATION, AND TRAINING TURKISH BASKETBALL COACHES IN RELATIONSHIP-ORIENTED COACHING SKILLS FOR YOUTH IN CONTRACT TO TRADITIONALLY RIGID, HIGH-PERFORMANCE METHODS.
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.
PROGRAM 99110377: PROVIDE CROSS-CULTURAL SKILLS TRAINING TO CHINESE WORKERS PREPARING TO RELOCATE INTERNATIONALLY AS PART OF THE ONE BELT / ONE ROAD INITIATIVE.
PROGRAM 99180003: RESEARCH AND DEVELOPMENT OF AN INTERNATIONAL COMPANY TO USE SPORTS FOR YOUTH MENTORING AND LEADERSHIP DEVELOPMENT AMONG REFUGEE AND MIGRANT YOUTH IN THE UNITED KINGDOM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joshua Kruse President | Officer | 40 | $95,860 |
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 |
Victor Dawson Director | 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 | $1,196,273 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,196,273 |
| Total Program Service Revenue | $0 |
| Investment income | $17,116 |
| 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 | $1,213,389 |
| 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 | $79,820 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $660,300 |
| Pension plan accruals and contributions | $36,907 |
| Other employee benefits | $112,973 |
| Payroll taxes | $51,799 |
| Fees for services: Management | $41,662 |
| Fees for services: Legal | $10,416 |
| Fees for services: Accounting | $52,078 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $13,723 |
| Office expenses | $14,068 |
| Information technology | $1,613 |
| Royalties | $0 |
| Occupancy | $13,407 |
| Travel | $117,855 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $14,432 |
| Interest | $18,978 |
| Payments to affiliates | $3,000 |
| Depreciation, depletion, and amortization | $21,088 |
| Insurance | $28,280 |
| All other expenses | $0 |
| Total functional expenses | $1,330,351 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $440,444 |
| Savings and temporary cash investments | $112,047 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $66,965 |
| 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 | $86,055 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $705,511 |
| Accounts payable and accrued expenses | $33,102 |
| 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 | $33,102 |
| Net assets without donor restrictions | $203,850 |
| Net assets with donor restrictions | $468,559 |
| 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 | $705,511 |