Cubanet News Inc

Analysis

Cubanet News Inc is a registered charity in United States, based in Coral Gables, FL. It received its IRS tax-exemption ruling in April 1998, 28 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Cubanet News Inc reported income of $747k and spending of $790k, spending 106% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $922k to $747k (-19%), an average of -5.1% a year. The sharpest change came in the year to September 2021, when income rose by 27%. Over the whole period it spent 98% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Cubanet News Inc sits at the 73rd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 78th percentile within FL. Charities of a similar size with the same main cause include Conejo Schools Foundation ($747k), New England Basecamp ($747k) and Kids Ark Development Center Inc ($747k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $226k. At year end it held assets of $252k against liabilities of $17k, net assets of $235k. It reported 5 employees.