Totals
- Total revenue
- $19,338,474
- Total expenses
- $2,908,814
- Contributions and grants received
- $17,550,000
- Grants paid
- $0
- Program service revenue
- $1,716,492
- Investment income
- $71,982
- Other revenue
- $0
- Total assets, end of year
- $68,721,517
- Total liabilities, end of year
- $53,049,936
- Net assets or fund balances, end of year
- $15,671,581
- Program services expenses (Part IX)
- $2,797,823
- Management and general expenses
- $110,991
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $2,797,823
Program services were 96.2% 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)
$17,550,000
-
2a · Program service revenue: PROJECT FACILITY
total $1,716,492 · related or exempt $1,716,492
-
3 · Investment income
total $71,982 · excluded $71,982
Functional expenses
Part IX, the statement of functional expenses.
-
11c · Fees: accounting
total $44,272 · management and general $44,272
-
11g · Fees: other
total $62,500 · management and general $62,500
-
13 · Office expenses
total $8,438 · program services $4,219 · management and general $4,219
-
20 · Interest
total $1,223,757 · program services $1,223,757
-
22 · Depreciation, depletion and amortization
total $1,332,977 · program services $1,332,977
-
24a · Other expenses: TENANT ALLOWANCE EXPENS
total $230,000 · program services $230,000
-
24b · Other expenses: GENERAL BUILDING MAINTE
total $6,870 · program services $6,870
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $2,054,536 · end of year $502,508
-
2 · Savings and temporary cash investments
beginning of year $806,278 · end of year $806,278
-
9 · Prepaid expenses and deferred charges
beginning of year $15,000 · end of year $0
-
10a · Land, buildings and equipment: cost or other basis
$52,111,918
-
10b · Land, buildings and equipment: accumulated depreciation
$1,835,473
-
10c · Land, buildings and equipment, net
beginning of year $51,958,545 · end of year $50,276,445
-
15 · Other assets
beginning of year $0 · end of year $17,136,286
-
17 · Accounts payable and accrued expenses
beginning of year $2,657,969 · end of year $387,123
-
23 · Secured mortgages and notes payable
beginning of year $52,557,830 · end of year $52,662,813
-
25 · Other liabilities
beginning of year $376,639 · end of year $0
-
27 · Net assets without donor restrictions
beginning of year -$758,079 · end of year $15,671,581
Mission and programs · 2024
Mission
THE ORGANIZATION OPERATES AT ALL TIMES EXCLUSIVELY FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF, AND/OR TO CARRY OUT THE PURPOSES OF MHUB THAT IS AN ORGANIZATION TO ENABLE U.S. HARDTECH INNOVATION AND COMMERCIALIZATION BY FUELING COLLABORATION AND PROVIDING AN ACCESSIBLE, HYPER-RESOURCED ENVIRONMENT TO DEVELOP, FUND AND ACCELERATE CLEAN ENERGY, HEALTH, SUSTAINABILITY, AND MANUFACTURING ENTREPRENEURSHIP.
Activities or mission (Part I)
SUPPORTING OPERATIONS FOR MHUB, THE NATION'S LARGEST AND FASTEST GROWING INNOVATION CENTER FOR HARDTECH AND MANUFACTURING.
-
SUPPORTING OPERATIONS: LEASING OF THE PROJECT FACILITY TO MHUB FOR OPERATION AS A HARDTECH INNOVATION ACCELERATOR FOCUSED ON RECRUITING, SUPPORTING, DEVELOPING, AND LAUNCHING MINORITY AND WOMEN OWNED BUSINESS ENTERPRISES.
Expenses $2,797,823 · Revenue $1,716,492
As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Haven AllenHAVEN ALLEN
PRESIDENT
- Total calculated
- $553,521
- From this org
- $0
- From related orgs
- $518,833
- Other
- $34,688
- Hours/week
- 0.2 + 49.8 related
Schedule J breakdown matched by us
- Base
- $0 + $290,456 related
- Bonus
- $0 + $217,877 related
- Other
- $0 + $10,500 related
- Deferred
- $0 + $11,500 related
- Nontaxable benefits
- $0 + $23,188 related
- Filer's total
- $0 + $553,521 related
-
Manas MehandruMANAS MEHANDRU
TREASURER
- Total calculated
- $396,019
- From this org
- $0
- From related orgs
- $361,768
- Other
- $34,251
- Hours/week
- 0.5 + 49.5 related
Schedule J breakdown matched by us
- Base
- $0 + $232,350 related
- Bonus
- $0 + $113,939 related
- Other
- $0 + $15,479 related
- Deferred
- $0 + $11,500 related
- Nontaxable benefits
- $0 + $22,751 related
- Filer's total
- $0 + $396,019 related
-
Melissa LedererMELISSA LEDERER
SECRETARY
- Total calculated
- $315,414
- From this org
- $0
- From related orgs
- $297,944
- Other
- $17,470
- Hours/week
- 0.2 + 49.8 related
Schedule J breakdown matched by us
- Base
- $0 + $225,494 related
- Bonus
- $0 + $66,073 related
- Other
- $0 + $6,377 related
- Deferred
- $0
- Nontaxable benefits
- $0 + $17,470 related
- Filer's total
- $0 + $315,414 related
-
Meredith O'ConnorMEREDITH O'CONNOR
BOARD DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.2 + 0.2 related
-
Kevin WillerKEVIN WILLER
BOARD DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.2 + 0.2 related
-
Devi RajaDEVI RAJA
INDEPENDENT DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.2
-
Susan KaiSUSAN KAI
INDEPENDENT DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.2
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
None.
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
The filer's explanations (Part III)
- PART I, LINE 3
- COMPENSATION OF THE CEO IS DETERMINED BY A RELATED ORGANIZATION, MHUB. MHUB USES THE FOLLOWING METHODS TO DETERMINE COMPENSATION: - COMPENSATION COMMITTEE - FORM 990 OF OTHER ORGANIZATIONS - COMPENSATION STUDY - APPROVAL BY THE BOARD
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
No itemized grants to organizations on this return.
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
501(C)(3) · INNOVATION CENTER FOR HARDTECH AND MANUFACTURING. · IL
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Related partnerships
Part III: related organizations taxable as a partnership, with the filer's share.
-
MHUB PRODUCT IMPACT FUND I LP
INVESTMENTS · DE
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 16 November 2025
- IRS schema version
- 2024v5.2
- Source object
- 202513219349308276
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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