Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $47,600

• 1e · Government grants (contributions)

  $11,163,064

• 1f · All other contributions, gifts and grants

  $1,377,924

• 1g · Noncash contributions included above

  $2,726

• 2a · Program service revenue: PRODUCT DEVELOPMENT SERVICES

  total $2,156,025 · related or exempt $2,156,025

• 2b · Program service revenue: MEMBERSHIP ASSESSMENTS

  total $2,137,379 · related or exempt $2,137,379

• 2c · Program service revenue: AI PROGRAM REVENUE

  total $1,633,866 · related or exempt $1,633,866

• 3 · Investment income

  total $201,197 · excluded $201,197

• 6a · Gross rents

  real property $73,797

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $73,797

• 6d · Net rental income or loss

  total $73,797 · related or exempt $73,797

• 8a · Fundraising events: gross income

  $23,236

• 8a · Fundraising events: contributions included on line 1c

  $47,600

• 8b · Fundraising events: direct expenses

  $70,098

• 8c · Net income from fundraising events

  total -$46,862 · excluded -$46,862

• 10a · Gross sales of inventory

  $1,612

• 10b · Cost of goods sold

  $4,390

• 10c · Net income from sales of inventory

  total -$2,778 · excluded -$2,778

• 11a · Other revenue: SPECIALTY TRAINING & EQUIPMENT

  total $24,717 · related or exempt $24,717

• 11b · Other revenue: CREDIT CARD FEE REVENUE

  total $22,268 · excluded $22,268

• 11c · Other revenue: OTHER REVENUE

  total $20,232 · excluded $20,232

• 11e · Other revenue, total

  $67,217

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $936,054 · program services $395,819 · management and general $467,833 · fundraising $72,402

• 7 · Other salaries and wages

  total $2,516,318 · program services $1,262,781 · management and general $1,160,984 · fundraising $92,553

• 8 · Pension plan contributions

  total $69,790 · program services $34,048 · management and general $32,455 · fundraising $3,287

• 9 · Other employee benefits

  total $139,560 · program services $68,085 · management and general $64,902 · fundraising $6,573

• 10 · Payroll taxes

  total $241,883 · program services $117,133 · management and general $113,278 · fundraising $11,472

• 11c · Fees: accounting

  total $84,753 · management and general $84,753

• 11g · Fees: other

  total $2,055,313 · program services $1,882,067 · management and general $171,517 · fundraising $1,729

• 12 · Advertising and promotion

  total $256,631 · program services $88,386 · management and general $168,245

• 13 · Office expenses

  total $167,716 · program services $45,284 · management and general $120,995 · fundraising $1,437

• 16 · Occupancy

  total $1,368,498 · program services $618,346 · management and general $681,168 · fundraising $68,984

• 19 · Conferences, conventions and meetings

  total $131,259 · program services $31,197 · management and general $10,032 · fundraising $90,030

• 20 · Interest

  total $525,625 · management and general $525,625

• 22 · Depreciation, depletion and amortization

  total $239,382 · program services $93,109 · management and general $146,273

• 23 · Insurance

  total $115,249 · management and general $115,249

• 24a · Other expenses: PROGRAM SUPPLIES

  total $305,641 · program services $305,641

• 24b · Other expenses: SUBSCRIPTIONS AND DUES

  total $28,988 · program services $36 · management and general $28,952

• 24c · Other expenses: ALL OTHER EXPENSES

  total $12,377 · management and general $12,377

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $764,088 · end of year $1,585,938

• 3 · Pledges and grants receivable

  beginning of year $1,190,018 · end of year $885,579

• 4 · Accounts receivable

  beginning of year $237,842 · end of year $324,585

• 7 · Other notes and loans receivable

  end of year $28,256,406

• 9 · Prepaid expenses and deferred charges

  beginning of year $133,768 · end of year $43,894

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

  $1,731,918

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

  $551,178

• 10c · Land, buildings and equipment, net

  beginning of year $699,055 · end of year $1,180,740

• 15 · Other assets

  beginning of year $817,960 · end of year $17,704,947

• 17 · Accounts payable and accrued expenses

  beginning of year $1,170,616 · end of year $1,451,143

• 19 · Deferred revenue

  beginning of year $219,379 · end of year $413,547

• 23 · Secured mortgages and notes payable

  beginning of year $2,162,713 · end of year $17,024,382

• 25 · Other liabilities

  beginning of year $800,135 · end of year $21,989,737

• 27 · Net assets without donor restrictions

  beginning of year -$2,384,408 · end of year $7,802,920

• 28 · Net assets with donor restrictions

  beginning of year $1,874,296 · end of year $1,300,360

The filer's explanations (Part III)

PART I, LINE 7

BONUSES ARE PAID DURING THE YEAR AT THE DISCRETION OF MANAGEMENT AND BOARD APPROVAL.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• MHUB ACCELERATED INCUBATION LLC

  ACCELERATE THE GROWTH OF NEW HARDTECH BUSINESSES · DE · income $1,198,033 · assets $447,842

  Directly controlled by MHUB

• MHUB PRODUCT IMPACT FUND I UGP LLC

  IMPACT INVESTMENTS · DE · income $0 · assets $0

  Directly controlled by MHUB

• MHUB PRODUCT IMPACT FUND I GP LP

  IMPACT INVESTMENTS · DE · income $0 · assets $0

  Directly controlled by MHUB

• MHUB TECHNOLOGIES LLC

  HOLDING COMPANY · IL · income $0 · assets $0

  Directly controlled by MHUB

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

• MHUB PRODUCT IMPACT FUND I LP

  INVESTMENTS · DE