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Nonprofiteer
← FERRIS WHEEL INNOVATION CENTER

Form 990 for tax year 2023

Filed by FERRIS WHEEL INNOVATION CENTER.

Totals

Total revenue
$809,016
Total expenses
$1,169,896
Contributions and grants received
$772,161
Grants paid
$0
Program service revenue
$23,372
Investment income
$0
Other revenue
$13,483
Total assets, end of year
$450,506
Total liabilities, end of year
$439,633
Net assets or fund balances, end of year
$10,873
Program services expenses (Part IX)
$998,371
Management and general expenses
$147,991
Fundraising expenses
$23,534
Program service expenses (Part III)
$998,371

Program services were 85.3% 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

    $772,161

  • 2a · Program service revenue: CLIENT PARTICIPATION FEES

    total $23,372 · related or exempt $23,372

  • 11a · Other revenue: SHOPS ON SAGINAW

    total $7,772 · related or exempt $7,772

  • 11b · Other revenue: OTHER REVENUE

    total $5,711 · related or exempt $5,711

  • 11e · Other revenue, total

    $13,483

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $163,319 · program services $100,467 · management and general $56,146 · fundraising $6,706

  • 7 · Other salaries and wages

    total $390,256 · program services $389,687 · fundraising $569

  • 9 · Other employee benefits

    total $37,411 · program services $33,723 · management and general $3,688

  • 10 · Payroll taxes

    total $44,813 · program services $39,795 · management and general $4,484 · fundraising $534

  • 11a · Fees: management

    total $130,230 · program services $100,664 · management and general $23,035 · fundraising $6,531

  • 11b · Fees: legal

    total $2,310 · program services $2,310

  • 11c · Fees: accounting

    total $18,083 · program services $10,183 · management and general $7,900

  • 11g · Fees: other

    total $26,610 · program services $21,480 · management and general $4,800 · fundraising $330

  • 12 · Advertising and promotion

    total $21,139 · program services $12,659 · management and general $6,730 · fundraising $1,750

  • 13 · Office expenses

    total $8,240 · program services $5,399 · management and general $2,784 · fundraising $57

  • 16 · Occupancy

    total $180,570 · program services $154,795 · management and general $25,775

  • 20 · Interest

    total $5,830 · program services $5,830

  • 23 · Insurance

    total $9,222 · program services $4,711 · management and general $4,511

  • 24a · Other expenses: AWARDS AND GRANTS

    total $66,385 · program services $65,185 · fundraising $1,200

  • 24b · Other expenses: CONFERENCES AND MEETINGS

    total $28,349 · program services $21,096 · management and general $1,533 · fundraising $5,720

  • 24c · Other expenses: DUES AND SUBSCRIPTIONS

    total $22,632 · program services $21,087 · management and general $1,496 · fundraising $49

  • 24d · Other expenses: SUPPLIES

    total $6,940 · program services $5,440 · management and general $1,412 · fundraising $88

  • 24e · All other expenses

    total $7,557 · program services $3,860 · management and general $3,697

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $362,508 · end of year $4,267

  • 4 · Accounts receivable

    beginning of year $37,094 · end of year $194,643

  • 15 · Other assets

    end of year $251,596

  • 17 · Accounts payable and accrued expenses

    beginning of year $9,082 · end of year $37,665

  • 25 · Other liabilities

    beginning of year $18,767 · end of year $401,968

  • 27 · Net assets without donor restrictions

    beginning of year $331,227 · end of year -$91,913

  • 28 · Net assets with donor restrictions

    beginning of year $40,526 · end of year $102,786

Mission and programs · 2023

Mission

HOUSED IN FLINT, MICHIGAN, WE ARE A NON-PROFIT WITH A MISSION TO RELIEVE THE INNOVATOR OF THE ENTREPRENEURIAL BURDEN. WE KNOW ENTREPRENEURSHIP CAN BE DIFFICULT, AND THAT'S WHY WE'RE HERE TO HELP. AS A COMMUNITY OF STUDENT PROFESSIONALS, LEAD BY A DYNAMIC LEADERSHIP TEAM, WE VET ENTREPRENEURIAL IDEAS TO PROVIDE A HELPING HAND IN BUSINESS DEVELOPMENT TO ANYONE REGARDLESS OF THEIR PRIOR EXPERIENCE OR BACKGROUND.

  • FERRIS WHEEL INNOVATION CENTER PROGRAM IS DESIGNED TO FOSTER INTEREST IN S.T.E.A.M. (SCIENCE, TECHNOLOGY, ENGINEERING, ARTS, AND MATH) BY PROVIDING EXPERIMENTAL EDUCATION AND PRACTICAL TRAINING TO STUDENTS AS THEY ARE GUIDED IN AIDING INVENTORS, INNOVATORS AND ENTREPRENEURS IN BRINGING PRODUCTS FROM CONCEPT TO MARKET, AND TO PROMOTE ECONOMIC STABILITY IN FLINT, MICHIGAN THROUGH INNOVATION AND ENTREPRENEURISM.

    Expenses $998,371 · Revenue $23,372

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Brandee Cooke-Brown

    EXECUTIVE DI

    Total calculated
    $85,486
    From this org
    $85,486
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Darrell Williams

    DIRECTOR OF

    Total calculated
    $77,833
    From this org
    $77,833
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Cathy Gentry

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Phil Hagerman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dylan Luna

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mia McNeil

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Marcus Rankins

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • David Ollila

    PRESIDENT

    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
2023
Filed
11 June 2024
IRS schema version
2023v5.0
Source object
202431699349301453

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