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Nonprofiteer
← THE YOUNGSTOWN EDISON INCUBATOR CORPORATION

Form 990 for tax year 2024

Filed by THE YOUNGSTOWN EDISON INCUBATOR CORPORATION.

Totals

Total revenue
$7,546,159
Total expenses
$4,919,001
Contributions and grants received
$6,683,962
Grants paid
$613,545
Program service revenue
$0
Investment income
$0
Other revenue
$862,197
Total assets, end of year
$16,302,782
Total liabilities, end of year
$1,956,418
Net assets or fund balances, end of year
$14,346,364
Program services expenses (Part IX)
$4,119,113
Management and general expenses
$561,339
Fundraising expenses
$238,549
Program service expenses (Part III)
$4,119,113

Program services were 83.7% 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.

  • 1b · Membership dues

    $520,788

  • 1e · Government grants (contributions)

    $5,432,872

  • 1f · All other contributions, gifts and grants

    $730,302

  • 6a · Gross rents

    real property $616,045

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $616,045

  • 6d · Net rental income or loss

    total $616,045 · related or exempt $616,045

  • 8a · Fundraising events: gross income

    $367,629

  • 8b · Fundraising events: direct expenses

    $139,739

  • 8c · Net income from fundraising events

    total $227,890 · excluded $227,890

  • 11a · Other revenue: MISCELLANEOUS REVENUE

    total $18,262 · related or exempt $18,262

  • 11e · Other revenue, total

    $18,262

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $549,977 · program services $549,977

  • 3 · Grants to foreign organizations and individuals

    total $63,568 · program services $63,568

  • 5 · Compensation of officers, directors and key employees

    total $167,967 · program services $134,775 · management and general $26,568 · fundraising $6,624

  • 7 · Other salaries and wages

    total $1,470,691 · program services $1,175,980 · management and general $234,470 · fundraising $60,241

  • 9 · Other employee benefits

    total $159,611 · program services $135,500 · management and general $21,890 · fundraising $2,221

  • 10 · Payroll taxes

    total $142,532 · program services $114,658 · management and general $22,057 · fundraising $5,817

  • 11b · Fees: legal

    total $8,390 · program services $6,751 · management and general $1,315 · fundraising $324

  • 11c · Fees: accounting

    total $90,290 · program services $72,656 · management and general $14,148 · fundraising $3,486

  • 11g · Fees: other

    total $649,104 · program services $640,895 · management and general $6,414 · fundraising $1,795

  • 12 · Advertising and promotion

    total $97,887 · fundraising $97,887

  • 13 · Office expenses

    total $8,965 · program services $7,188 · management and general $1,426 · fundraising $351

  • 16 · Occupancy

    total $445,109 · program services $358,179 · management and general $69,749 · fundraising $17,181

  • 20 · Interest

    total $81,318 · program services $65,437 · management and general $12,743 · fundraising $3,138

  • 22 · Depreciation, depletion and amortization

    total $704,131 · program services $566,614 · management and general $110,337 · fundraising $27,180

  • 23 · Insurance

    total $56,041 · program services $45,096 · management and general $8,782 · fundraising $2,163

  • 24a · Other expenses: DUES AND SUBSCRIPTIONS

    total $64,167 · program services $51,709 · management and general $9,996 · fundraising $2,462

  • 24b · Other expenses: TRAINING AND SEMINARS

    total $37,517 · program services $32,269 · management and general $2,546 · fundraising $2,702

  • 24c · Other expenses: REAL ESTATE TAXES

    total $34,812 · program services $28,013 · management and general $5,455 · fundraising $1,344

  • 24d · Other expenses: MEALS

    total $22,728 · program services $18,286 · management and general $3,403 · fundraising $1,039

  • 24e · All other expenses

    total $64,196 · program services $51,562 · management and general $10,040 · fundraising $2,594

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $878,155 · end of year $565,115

  • 3 · Pledges and grants receivable

    beginning of year $420,524 · end of year $1,471,866

  • 4 · Accounts receivable

    beginning of year $369,280 · end of year $504,246

  • 9 · Prepaid expenses and deferred charges

    beginning of year $29,782 · end of year $48,032

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

    $22,393,574

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

    $8,730,051

  • 10c · Land, buildings and equipment, net

    beginning of year $11,789,358 · end of year $13,663,523

  • 15 · Other assets

    beginning of year $100,000 · end of year $50,000

  • 17 · Accounts payable and accrued expenses

    beginning of year $300,875 · end of year $341,480

  • 18 · Grants payable

    beginning of year $97,294 · end of year $48,862

  • 19 · Deferred revenue

    beginning of year $360,681 · end of year $2,950

  • 23 · Secured mortgages and notes payable

    beginning of year $1,059,043 · end of year $1,563,126

  • 27 · Net assets without donor restrictions

    beginning of year $11,331,798 · end of year $13,535,775

  • 28 · Net assets with donor restrictions

    beginning of year $437,408 · end of year $810,589

Mission and programs · 2024

Mission

BUSINESS DEVELOPMENT: TO CULTIVATE, ACCELERATE AND PRMOTE THE FORMATION, GROWTH, COMMERCIALIZATION AND INNOVATION OF TECHNOLOGY-BASED BUSINESSES BY PROVIDING THE COMPREHENSIVE, HIGH QUALITY ENTREPRENEURIAL SERVICES AND RESORUCES IN A ROBUST ENVIRONMENT THAT PROMOTES COMPANY SUCCESS, ATTRACTION AND RETENTION TO CULTIVATE, ACCELERATE AND PROMOTE THE FORMATION, GROWTH, COMMERCIALIZATION, AND INNOVATION OF TECHNOLOGY-BASED BUSINESSES BY PROVIDING COMPREHENSIVE, HIGH QUALITY ENTREPRENEURIAL SERVICES AND RESOURCES IN A ROBUST ENVIRONMENT THAT PROMOTES COMPANY SUCCESS, ATTRACTION AND RETENTION.

  • TO ACCELERATE THE FORMATION OF BUSINESS, CREATION OF JOBS AND ASSIST IN THE REVITALIZATION AND GROWTH OF THE MAHONING VALLEY.

    Expenses $4,119,113 · Grants $613,545 · Revenue $634,307

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • John Reed

    CHAIRPERSON

    Total calculated
    $0
    Hours/week
    1

  • Evan Morrison

    VICE CHAIRPERSON

    Total calculated
    $0
    Hours/week
    1

  • Chris Mediate

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Stuart A Strasfeld

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Sam Huston

    EXECUTIVE COMMITTEE MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Jeff Barber

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Joe Chahine

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Elle Clementi

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Michelle Crawford

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • James Dascenzo

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Bonnie Deutsch Burdman

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Lena Esmail

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Michael Garvey

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Stephanie Gilchrist

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Paul Horning

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Brian Jackson

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • John McNally

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Paul Olivier

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Will Rauber

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Doug Ross

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Brien Smith

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Kelly Wilkinson

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Hasheen Wilson

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Bob Wollet

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Barb Ewing

    CEO

    Total calculated
    $167,967
    From this org
    $158,507
    From related orgs
    $0
    Other
    $9,460
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $158,507
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $9,460
    Filer's total
    $167,967

  • Stephanie Gaffney

    VP-ADV.MANUFACTURING PRO

    Total calculated
    $137,768
    From this org
    $128,308
    From related orgs
    $0
    Other
    $9,460
    Hours/week
    40

  • Colleen Kelly

    SENIOR VP

    Total calculated
    $114,845
    From this org
    $105,385
    From related orgs
    $0
    Other
    $9,460
    Hours/week
    40

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 · 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

  • DEFENSE & ENERGY SYSTEMS LLC

    $181,335

    GRANT SUBRECIPIENT

  • BRITE ENERGY INNOVATORS

    $64,600

    GRANT SUBRECIPIENT

  • PARAMOUNT PURSUITS

    $34,983

    GRANT SUBRECIPIENT

  • DINESOL PLASTICS

    $17,510

    GRANT AWARD WINNER

  • KIRALY TOOL AND DIE INC

    $12,500

    GRANT AWARD WINNER

  • MAGNETIC ANALYSIS CORPORATION

    $12,500

    GRANT AWARD WINNER

  • MARADYNE CORPORATION

    $12,500

    GRANT AWARD WINNER

  • WATERLOX COATINGS CORPORATION

    $12,500

    GRANT AWARD WINNER

  • XALOY

    $12,500

    GRANT AWARD WINNER

  • ALLOY PRECISION TECHNOLOGIES INC

    $12,500

    GRANT AWARD WINNER

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2024
Filed
6 November 2025
IRS schema version
2024v5.2
Source object
202523169349302122

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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