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← HILLMAN ACCELERATOR

Form 990 for tax year 2022

Filed by HILLMAN ACCELERATOR.

Totals

Total revenue
$2,251,630
Total expenses
$2,605,578
Contributions and grants received
$1,859,273
Grants paid
$50,000
Program service revenue
$389,455
Investment income
$603
Other revenue
$2,299
Total assets, end of year
$859,679
Total liabilities, end of year
$496,441
Net assets or fund balances, end of year
$363,238
Program services expenses (Part IX)
$2,124,071
Management and general expenses
$366,359
Fundraising expenses
$115,148
Program service expenses (Part III)
$2,124,071

Program services were 81.5% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $344,578

  • 1f · All other contributions, gifts and grants

    $1,514,695

  • 2a · Program service revenue: PROGRAM REVENUE

    total $389,455 · related or exempt $389,455

  • 3 · Investment income

    total $603 · excluded $603

  • 11a · Other revenue: OTHER REVENUE

    total $2,299 · related or exempt $2,299

  • 11e · Other revenue, total

    $2,299

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $50,000 · program services $50,000

  • 5 · Compensation of officers, directors and key employees

    total $287,222 · program services $172,334 · management and general $57,444 · fundraising $57,444

  • 7 · Other salaries and wages

    total $718,307 · program services $580,595 · management and general $93,791 · fundraising $43,921

  • 9 · Other employee benefits

    total $38,621 · program services $30,184 · management and general $5,387 · fundraising $3,050

  • 10 · Payroll taxes

    total $66,541 · program services $49,906 · management and general $9,981 · fundraising $6,654

  • 11b · Fees: legal

    total $12,608 · management and general $12,608

  • 11c · Fees: accounting

    total $40,793 · program services $30,595 · management and general $6,119 · fundraising $4,079

  • 11g · Fees: other

    total $582,288 · program services $579,905 · management and general $2,383

  • 12 · Advertising and promotion

    total $55,685 · program services $55,685

  • 13 · Office expenses

    total $28,096 · program services $9,252 · management and general $18,844

  • 14 · Information technology

    total $28,334 · management and general $28,334

  • 16 · Occupancy

    total $104,569 · program services $83,377 · management and general $21,192

  • 17 · Travel

    total $266,749 · program services $167,677 · management and general $99,072

  • 19 · Conferences, conventions and meetings

    total $23,756 · program services $23,756

  • 22 · Depreciation, depletion and amortization

    total $9,040 · program services $9,040

  • 23 · Insurance

    total $857 · program services $857

  • 24a · Other expenses: OTHER EXPENSES

    total $221,691 · program services $210,487 · management and general $11,204

  • 24b · Other expenses: PROGRAM PHOTOGRAPHY

    total $41,261 · program services $41,261

  • 24c · Other expenses: DUES AND SUBSCRIPTIONS

    total $26,809 · program services $26,809

  • 24d · Other expenses: TRAINING & PROFESSIONAL

    total $2,351 · program services $2,351

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $816,799 · end of year $456,995

  • 2 · Savings and temporary cash investments

    beginning of year $10,041 · end of year $10,041

  • 3 · Pledges and grants receivable

    beginning of year $59,676 · end of year $0

  • 4 · Accounts receivable

    beginning of year $3,000 · end of year $25,000

  • 7 · Other notes and loans receivable

    beginning of year $25,000 · end of year $25,500

  • 9 · Prepaid expenses and deferred charges

    beginning of year $7,276 · end of year $0

  • 10a · Land, buildings and equipment: cost or other basis

    $58,711

  • 10b · Land, buildings and equipment: accumulated depreciation

    $13,050

  • 10c · Land, buildings and equipment, net

    beginning of year $25,151 · end of year $45,661

  • 13 · Investments: program-related

    beginning of year $75,000 · end of year $75,000

  • 15 · Other assets

    beginning of year $100,000 · end of year $221,482

  • 17 · Accounts payable and accrued expenses

    beginning of year $23,058 · end of year $21,423

  • 18 · Grants payable

    beginning of year $377,450 · end of year $470,753

  • 25 · Other liabilities

    beginning of year $4,249 · end of year $4,265

  • 27 · Net assets without donor restrictions

    beginning of year $717,186 · end of year $363,238

Mission and programs · 2022

Mission

LIGHTSHIP FOUNDATION PROVIDES SUPPORT FOR EARLY STAGE COMPANIES LED BY UNDERREPRESENTED INDIVIDUALS TO OBTAIN SEED FUNDING FOR THEIR DEVELOPING COMPANIES.

  • LAUNCHED JULY 10, 2017 WITH THREE TECH-ENABLED COMPANIES, LIGHTSHIP BROUGHT TOGETHER SEVERAL LEADERS AND BUSINESS ADVISORS WITHIN THE TECH ECOSYSTEM THROUGHOUT THE STATE TO PROVIDE SUPPORT FOR BUSINESS MODELING, MARKETING, FUNDRAISING AND CAPITAL RESOURCES TO HELP SUPPORT BUSINESS GROWTH PER ITS MANDATE. THROUGHOUT THE YEAR, LIGHTSHIP HAS MADE TREMENDOUS EFFORTS AND ENJOYED INITIAL SUCCESS IN PARTNERING WITH LOCAL, REGIONAL AND NATIONAL COMPANIES IN INCREASING ENGAGEMENT AND VISIBILITY FOR LIGHTSHIP COHORT COMPANIES, ASSISTING THEM WITH POTENTIAL SALES CHANNELS AND BUSINESS GROWTH OPPORTUNITIES FOR SCALE. LIGHTSHIP'S COMPANIES ARE ON TRACK TO BE CONTRIBUTORS TO THE OHIO THIRD FRONTIER DIVERSE BUSINESS DEVELOPMENT PROGRAM IN RAISING CAPITAL, PROVIDING EMPLOYMENT OPPORTUNITIES AND AFFECTING CHANGE TO UNDERREPRESENTED COMMUNITIES IN TECH CAREERS.

    Expenses $2,124,071 · Grants $50,000 · Revenue $391,754

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • MAURICE COFFEY

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • NNENA UKUKU

    BOARD MEMBER (UNTIL 10/1/22)

    Total calculated
    $0
    Hours/week
    1

  • CANDICE MATTHEWS

    EXECUTIVE DIRECTOR

    Total calculated
    $287,222
    From this org
    $279,100
    From related orgs
    $0
    Other
    $8,122
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $274,600
    Bonus
    $4,500
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $8,122
    Filer's total
    $287,222

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Provenance

Return type
form_990
Tax year
2022
Filed
20 December 2023
IRS schema version
2022v5.0
Source object
202333569349300608

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