Totals
- Total revenue
- $274,169
- Total expenses
- $172,443
- Contributions and grants received
- $271,828
- Grants paid
- $0
- Program service revenue
- $2,341
- Investment income
- $0
- Other revenue
- $0
- Total assets, end of year
- $222,896
- Total liabilities, end of year
- $630
- Net assets or fund balances, end of year
- $222,266
- Program services expenses (Part IX)
- $132,856
- Management and general expenses
- $31,259
- Fundraising expenses
- $8,328
- Program service expenses (Part III)
- $132,856
Program services were 77.0% 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.
-
1f · All other contributions, gifts and grants
$271,828
-
2a · Program service revenue: Programmatic Event
total $2,341 · unrelated business $0 · excluded $0
Functional expenses
Part IX, the statement of functional expenses.
-
11b · Fees: legal
total $1,675 · program services $0 · management and general $1,675 · fundraising $0
-
11c · Fees: accounting
total $5,141 · program services $0 · management and general $5,141 · fundraising $0
-
11e · Fees: professional fundraising services
total $8,120 · fundraising $8,120
-
11g · Fees: other
total $61,114 · program services $60,568 · management and general $546 · fundraising $0
-
12 · Advertising and promotion
total $49,840 · program services $49,840 · management and general $0 · fundraising $0
-
13 · Office expenses
total $7,767 · program services $0 · management and general $7,767 · fundraising $0
-
14 · Information technology
total $3,965 · program services $1,500 · management and general $2,465 · fundraising $0
-
16 · Occupancy
total $7,944 · program services $4,344 · management and general $3,600 · fundraising $0
-
22 · Depreciation, depletion and amortization
total $2,074 · program services $1,659 · management and general $207 · fundraising $208
-
23 · Insurance
total $2,502 · program services $651 · management and general $1,851 · fundraising $0
-
24a · Other expenses: Program Expenses
total $14,294 · program services $14,294 · management and general $0 · fundraising $0
-
24b · Other expenses: Staff/Board Development
total $8,007 · program services $0 · management and general $8,007 · fundraising $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $120,031 · end of year $222,235
-
10a · Land, buildings and equipment: cost or other basis
$12,570
-
10b · Land, buildings and equipment: accumulated depreciation
$11,909
-
10c · Land, buildings and equipment, net
beginning of year $2,735 · end of year $661
-
17 · Accounts payable and accrued expenses
beginning of year $2,226 · end of year $630
-
27 · Net assets without donor restrictions
beginning of year $97,769 · end of year $22,707
-
28 · Net assets with donor restrictions
beginning of year $22,771 · end of year $199,559
Mission and programs · 2024
Mission
The Hatch Innovation Hub is the home of high growth focused entrepreneurs in Asheville and Western North Carolina.
-
Pressure Tests: This 30-to-90-day sprint with expert, handpicked mentors help entrepreneurs pinpoint obstacles and pave the way to success. In 2024 six companies completed pressure tests.
Expenses $132,856 · Revenue $2,341
-
1-Million Cups: This program connects founders, mentors, and investors to the WNC Startup ecosystem. This weekly event averages over 50 attendees. In 2024 52 companies presented, sharing a wealth of knowledge with participants.
-
Pitch Parties: This program provides a safe environment for entrepreneurs to pitch their ideas to peers, founders, and investors, which is a crucial skill for success. In 2024 there were 7 pitch parties with 5-8 companies presenting at each with an average of 30 attendees.
As filed on the 2024 return.
Listed in Part VII
-
Mike Baer
Chair
- Total calculated
- $0
- Hours/week
- 8
-
Maui Vang
Vice Chair
- Total calculated
- $0
- Hours/week
- 8
-
Isaac Rowles
Treasurer
- Total calculated
- $0
- Hours/week
- 8
-
Jesse Fripp
Member
- Total calculated
- $0
- Hours/week
- 1
-
Eileen Hutchinson
Member
- Total calculated
- $0
- Hours/week
- 8
-
Susan Clark Muntean
Member
- Total calculated
- $0
- Hours/week
- 1
-
Kim Celentano
Member
- Total calculated
- $0
- Hours/week
- 1
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.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 17 October 2025
- IRS schema version
- 2024v5.2
- Source object
- 202522939349301427
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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