Form 990 for tax year 2023
Filed by THE YOUNGSTOWN EDISON INCUBATOR CORPORATION.
Totals
- Total revenue
- $4,194,472
- Total expenses
- $4,319,596
- Contributions and grants received
- $3,320,829
- Grants paid
- $698,061
- Program service revenue
- $0
- Investment income
- $0
- Other revenue
- $873,643
- Total assets, end of year
- $13,587,099
- Total liabilities, end of year
- $1,817,893
- Net assets or fund balances, end of year
- $11,769,206
- Program services expenses (Part IX)
- $3,615,170
- Management and general expenses
- $508,508
- Fundraising expenses
- $195,918
- Program service expenses (Part III)
- $3,615,170
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
$296,324
-
1e · Government grants (contributions)
$2,385,394
-
1f · All other contributions, gifts and grants
$639,111
-
1g · Noncash contributions included above
$146,918
-
6a · Gross rents
real property $649,378
-
6b · Less rental expenses
real property $0
-
6c · Rental income or loss
real property $649,378
-
6d · Net rental income or loss
total $649,378 · related or exempt $649,378
-
8a · Fundraising events: gross income
$327,700
-
8b · Fundraising events: direct expenses
$126,357
-
8c · Net income from fundraising events
total $201,343 · excluded $201,343
-
11a · Other revenue: MISCELLANEOUS REVENUE
total $22,922 · related or exempt $22,922
-
11e · Other revenue, total
$22,922
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $698,061 · program services $698,061
-
5 · Compensation of officers, directors and key employees
total $152,759 · program services $120,654 · management and general $25,124 · fundraising $6,981
-
7 · Other salaries and wages
total $1,136,891 · program services $895,304 · management and general $188,275 · fundraising $53,312
-
9 · Other employee benefits
total $157,967 · program services $132,854 · management and general $22,042 · fundraising $3,071
-
10 · Payroll taxes
total $109,476 · program services $86,968 · management and general $17,356 · fundraising $5,152
-
11b · Fees: legal
total $1,624 · program services $1,284 · management and general $264 · fundraising $76
-
11c · Fees: accounting
total $86,325 · program services $68,238 · management and general $14,026 · fundraising $4,061
-
11g · Fees: other
total $447,218 · program services $443,179 · management and general $2,805 · fundraising $1,234
-
12 · Advertising and promotion
total $49,165 · program services $825 · fundraising $48,340
-
13 · Office expenses
total $16,277 · program services $9,499 · management and general $1,931 · fundraising $4,847
-
16 · Occupancy
total $461,120 · program services $364,505 · management and general $74,923 · fundraising $21,692
-
20 · Interest
total $62,634 · program services $49,511 · management and general $10,177 · fundraising $2,946
-
22 · Depreciation, depletion and amortization
total $707,318 · program services $559,119 · management and general $114,925 · fundraising $33,274
-
23 · Insurance
total $50,126 · program services $39,624 · management and general $8,145 · fundraising $2,357
-
24a · Other expenses: BAD DEBT EXPENSE
total $47,950 · program services $37,904 · management and general $7,791 · fundraising $2,255
-
24b · Other expenses: REAL ESTATE TAXES
total $38,369 · program services $30,330 · management and general $6,234 · fundraising $1,805
-
24c · Other expenses: DUES AND SUBSCRIPTIONS
total $35,009 · program services $27,732 · management and general $5,643 · fundraising $1,634
-
24d · Other expenses: TELEPHONE
total $17,838 · program services $14,101 · management and general $2,898 · fundraising $839
-
24e · All other expenses
total $43,469 · program services $35,478 · management and general $5,949 · fundraising $2,042
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $887,176 · end of year $878,155
-
3 · Pledges and grants receivable
beginning of year $740,189 · end of year $420,524
-
4 · Accounts receivable
beginning of year $344,589 · end of year $369,280
-
7 · Other notes and loans receivable
beginning of year $50,000
-
9 · Prepaid expenses and deferred charges
beginning of year $9,711 · end of year $29,782
-
10a · Land, buildings and equipment: cost or other basis
$19,815,278
-
10b · Land, buildings and equipment: accumulated depreciation
$8,025,920
-
10c · Land, buildings and equipment, net
beginning of year $12,284,625 · end of year $11,789,358
-
15 · Other assets
beginning of year $50,000 · end of year $100,000
-
17 · Accounts payable and accrued expenses
beginning of year $604,664 · end of year $300,875
-
18 · Grants payable
beginning of year $25,478 · end of year $97,294
-
19 · Deferred revenue
beginning of year $289,794 · end of year $360,681
-
23 · Secured mortgages and notes payable
beginning of year $1,552,024 · end of year $1,059,043
-
27 · Net assets without donor restrictions
beginning of year $11,880,873 · end of year $11,331,798
-
28 · Net assets with donor restrictions
beginning of year $13,457 · end of year $437,408
Mission and programs · 2023
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 $3,615,170 · Grants $698,061 · Revenue $672,300
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
James DascenzoJAMES DASCENZO
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Evan MorrisonEVAN MORRISON
VICE CHAIRPERSON
- Total calculated
- $0
- Hours/week
- 1
-
Stuart A StrasfeldSTUART A STRASFELD
SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
Chris MediateCHRIS MEDIATE
MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Paul OlivierPAUL OLIVIER
MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Bonnie Deutsch BurdmanBONNIE DEUTSCH BURDMAN
MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Brian JacksonBRIAN JACKSON
MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Joe ChahineJOE CHAHINE
MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
John ReedJOHN REED
CHAIRPERSON
- Total calculated
- $0
- Hours/week
- 1
-
Stephanie GilchristSTEPHANIE GILCHRIST
MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Sam HustonSAM HUSTON
MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Elle HendricksELLE HENDRICKS
MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Bob WolletBOB WOLLET
MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Jeff BarberJEFF BARBER
MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Kelly WilkinsonKELLY WILKINSON
MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Michelle CrawfordMICHELLE CRAWFORD
MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Lena EsmailLENA ESMAIL
MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Barb EwingBARB EWING
CEO
- Total calculated
- $152,759
- From this org
- $146,100
- From related orgs
- $0
- Other
- $6,659
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $146,100
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $6,659
- Filer's total
- $152,759
-
Stephanie GaffneySTEPHANIE GAFFNEY
VP-ADV.MANUFACTURING PRO
- Total calculated
- $118,989
- From this org
- $118,989
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Colleen KellyCOLLEEN KELLY
SENIOR VP
- Total calculated
- $109,974
- From this org
- $109,974
- From related orgs
- $0
- Other
- $0
- 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
None.
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
$302,732
GRANT SUBRECIPIENT
-
BRITE
$75,000
GRANT AWARD WINNER
-
PARAMOUNT PURSUITS
$69,714
GRANT SUBRECIPIENT
-
BY BANGER LLC
$30,000
GRANT AWARD WINNER
-
DOPE CIDER HOUSE AND WINERY
$20,000
GRANT AWARD WINNER
-
MAGNET
$15,000
GRANT AWARD WINNER
-
FIRELINE
$14,535
GRANT AWARD WINNER
-
TEAMNEO FOUNDATION
$11,000
GRANT AWARD WINNER
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 12 November 2024
- IRS schema version
- 2023v5.1
- Source object
- 202403189349308810
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