Totals
- Total revenue
- $1,566,357
- Total expenses
- $1,379,308
- Contributions and grants received
- $1,566,335
- Grants paid
- $134,000
- Program service revenue
- $0
- Investment income
- $22
- Other revenue
- $0
- Total assets, end of year
- $976,372
- Total liabilities, end of year
- $46,704
- Net assets or fund balances, end of year
- $929,668
- Program services expenses (Part IX)
- $606,291
- Management and general expenses
- $773,017
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $606,291
Program services were 44.0% 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.
-
1e · Government grants (contributions)
$715,411
-
1f · All other contributions, gifts and grants
$850,924
-
3 · Investment income
total $22 · excluded $22
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $134,000 · program services $134,000
-
5 · Compensation of officers, directors and key employees
total $50,606 · program services $20,242 · management and general $30,364
-
7 · Other salaries and wages
total $527,126 · program services $210,850 · management and general $316,276
-
9 · Other employee benefits
total $14,983 · program services $5,993 · management and general $8,990
-
10 · Payroll taxes
total $36,465 · program services $14,586 · management and general $21,879
-
11b · Fees: legal
total $25 · management and general $25
-
11c · Fees: accounting
total $43,478 · management and general $43,478
-
11g · Fees: other
total $28,988 · management and general $28,988
-
12 · Advertising and promotion
total $58,462 · management and general $58,462
-
13 · Office expenses
total $34,011 · management and general $34,011
-
14 · Information technology
total $21,153 · management and general $21,153
-
16 · Occupancy
total $181,975 · management and general $181,975
-
17 · Travel
total $21,866 · management and general $21,866
-
19 · Conferences, conventions and meetings
total $1,101 · management and general $1,101
-
23 · Insurance
total $3,414 · management and general $3,414
-
24a · Other expenses: OTHER DIRECT COSTS
total $220,620 · program services $220,620
-
24b · Other expenses: OTHER INDIRECT COSTS
total $1,035 · management and general $1,035
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $730,593 · end of year $635,939
-
2 · Savings and temporary cash investments
beginning of year $90,422 · end of year $340,433
-
17 · Accounts payable and accrued expenses
beginning of year $62,670 · end of year $11,226
-
25 · Other liabilities
beginning of year $15,726 · end of year $35,478
-
27 · Net assets without donor restrictions
beginning of year $742,619 · end of year $929,668
Mission and programs · 2023
Mission
757 ACCELERATE IS A NON-PROFIT STARTUP ACCELERATOR AND INCUBATOR PROGRAM. OUR MISSION IS TO PROVIDE STARTUPS WITH THE CUSTOMIZED RESOURCES AND CAPITAL THEY NEED TO GROW. WE BOOST PROMISING STARTUPS TOWARDS CUSTOMER TRACTION AND REVENUE USING THEIR OWN NETWORK OF MENTORS, INVESTORS, SUPPORT SERVICE, WORKING SPACE, AND A LEAN STARTUP EDUCATION. OUR VALUES ARE ENTREPRENEURS-FIRST, GIVE BEFORE YOU GET, AND A LONG-TERM COMMITMENT TO HELPING STARTUPS DO MORE, FASTER.
-
757 ACCELERATE757 ACCELERATE RECEIVED 160 APPLICATIONS FOR 7 SPOTS IN THE ACCELERATOR PROGRAM. OF THE 7 COMPANIES, TWO HAD A MINORITY FOUNDER AND FOUR HAD A FEMALE FOUNDER. 757 ACCELERATE ENGAGED OVER 50 MENTORS WHO SPENT 500 HOURS WITH THE 9 FOUNDERS. TO DATE, OUR ALUMNI COMPANIES HAVE CREATED OVER 500 JOBS, GENERATED $27 MILLION IN LIFETIME REVENUE, RAISED A TOTAL OF $90 MILLION IN INVESTMENT CAPITAL, AND RECEIVED OVER $15 MILLION IN GRANTS, LOANS, SBIR OR STTR FUNDING. DURING 2023, 757 ACCELERATE CONTINUED ITS PARTNERSHIPS WITH THE NAVALX MID-ATLANTIC TECH BRIDGE (MATB), THE HAMPTON ROADS BIOMEDICAL RESEARCH CONSORTIUM (HRBRC), AND RISE RESILIENCE, PROVIDING TECH SCANNING AND PRE-ACCELERATION SERVICES.
Expenses $485,033 · Grants $134,000 · Revenue $87,792
-
IN 2023, STARTUP STUDIOS WELCOMED OVER 55 STARTUPS TO THEIR INCUBATION PROGRAM. OVER 90% OF THE STARTUPS HAD UNDER-ESTIMATED FOUNDERS AS PART OF THEIR FOUNDING TEAM. WE FACILITATED OVER 150 UNIQUE PROGRAMMATIC OFFERINGS AND HAD 5 OF OUR STARTUPS ACCEPTED INTO TECHSTARS ACCELERATOR PROGRAMS. WE HAD TEN FOUNDERS RECEIVE A COMMONWEALTH COMMERCIALIZATION FUND(CCF) GRANT FROM THE VIRGINIA INNOVATION PARTNERSHIP CORPORATION (VIPC). TO DATE OUR STARTUPS HAVE RAISED OVER $20M IN FUNDING, CREATING OVER 100 HIGH-PAYING JOBS AND DOZENS ON INTERNSHIP OPPORTUNITIES.
Expenses $121,258
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Nancy GrdenNANCY GRDEN
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 0.5
-
Mary Evans McMillionMARY EVANS MCMILLION
EXECUTIVE DIRECTOR
- Total calculated
- $58,333
- From this org
- $58,333
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Anne ConnerANNE CONNER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
Blake LuseBLAKE LUSE
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
Drew UnvgarskyDREW UNVGARSKY
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
Chandra BriggmanCHANDRA BRIGGMAN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
Angela ReddixANGELA REDDIX
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
Nate FenderNATE FENDER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
Rishap MalhotraRISHAP MALHOTRA
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
Dave LevinDAVE LEVIN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.5
-
Monique AdamsMONIQUE ADAMS
MANAGING DIRECTOR
- Total calculated
- $29,997
- From this org
- $29,997
- From related orgs
- $0
- Other
- $0
- Hours/week
- 20
-
Paul NoldePAUL NOLDE
MARKET DIRECTOR
- Total calculated
- $0
- Hours/week
- 20
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
-
AGRICISION INC
$20,000
ORGANIZATION STARTUP FUNDS
-
FLYING SHIP COMPANY
$20,000
ORGANIZATION STARTUP FUNDS
-
CONTRACTOR PLUS
$20,000
ORGANIZATION STARTUP FUNDS
-
TEAM HANDOFF
$20,000
ORGANIZATION STARTUP FUNDS
-
MOCKTAIL CLUB
$20,000
ORGANIZATION STARTUP FUNDS
-
3 RIDGE TECHNOLOGIES
$20,000
ORGANIZATION STARTUP FUNDS
-
GISMO POWER
$14,000
ORGANIZATION STARTUP FUNDS
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 21 February 2025
- IRS schema version
- 2023v6.0
- Source object
- 202530769349301428
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
The source document this was parsed from is served over the API, which is where bulk and document access live.