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Nonprofiteer
← SOUTHERN WINDSOR COUNTY INCUBATOR INC

Form 990 for tax year 2022

Filed by SOUTHERN WINDSOR COUNTY INCUBATOR INC.

Totals

Total revenue
$359,920
Total expenses
$491,635
Contributions and grants received
$347,291
Grants paid
$0
Program service revenue
$12,588
Investment income
$41
Other revenue
$0
Total assets, end of year
$136,755
Total liabilities, end of year
$30,401
Net assets or fund balances, end of year
$106,354
Program services expenses (Part IX)
$136,281
Management and general expenses
$355,354
Fundraising expenses
$0
Program service expenses (Part III)
$136,281

Program services were 27.7% 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.

  • 1e · Government grants (contributions)

    $179,025

  • 1f · All other contributions, gifts and grants

    $168,266

  • 2a · Program service revenue: WORKSPACE FEES

    total $12,288 · related or exempt $12,288

  • 2b · Program service revenue: OTHER

    total $300 · related or exempt $300

  • 3 · Investment income

    total $41 · excluded $41

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $134,692 · management and general $134,692

  • 7 · Other salaries and wages

    total $145,910 · management and general $145,910

  • 10 · Payroll taxes

    total $22,570 · management and general $22,570

  • 11b · Fees: legal

    total $5,346 · program services $5,346

  • 11c · Fees: accounting

    total $5,500 · program services $4,500 · management and general $1,000

  • 11g · Fees: other

    total $200 · program services $200

  • 12 · Advertising and promotion

    total $8,064 · program services $8,064

  • 13 · Office expenses

    total $255 · program services $255

  • 14 · Information technology

    total $750 · program services $750

  • 16 · Occupancy

    total $45,242 · management and general $45,242

  • 17 · Travel

    total $31,167 · program services $31,167

  • 22 · Depreciation, depletion and amortization

    total $4,669 · program services $4,439 · management and general $230

  • 23 · Insurance

    total $15,676 · program services $9,966 · management and general $5,710

  • 24a · Other expenses: PROGRAMMING

    total $27,378 · program services $27,378

  • 24b · Other expenses: SUPPLIES

    total $24,252 · program services $24,252

  • 24c · Other expenses: CUSTODIAL

    total $15,353 · program services $15,353

  • 24d · Other expenses: REPAIRS AND MAINTENANCE

    total $1,757 · program services $1,757

  • 24e · All other expenses

    total $2,854 · program services $2,854

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $257,976 · end of year $119,544

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

    $22,395

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

    $7,806

  • 10c · Land, buildings and equipment, net

    beginning of year $8,772 · end of year $14,589

  • 15 · Other assets

    beginning of year $1,947 · end of year $2,622

  • 17 · Accounts payable and accrued expenses

    beginning of year $5,626 · end of year $5,401

  • 24 · Unsecured notes and loans payable

    beginning of year $25,000 · end of year $25,000

  • 27 · Net assets without donor restrictions

    beginning of year $238,069 · end of year $106,354

Mission and programs · 2022

Mission

TO PROVIDE ECONOMIC DEVELOPMENT TRAINING AND FINANCING FOR AREA BUSINESS. TO PROVIDE GRANT REVENUE ACCESS. TO ASSIST WITH WORKFORCE DEVELOPMENT. TO ELIMINATE THE BARRIERS OF ENTRY FOR DIGITAL AND TECHNOLOGY ENTREPRENEURS AND WEB-ENABLED BUSINESSES.

  • BRIC/ENTREPRENEURSHIP CENTER - SWCI/BRIC CONTINUES TO HOST 2 COMPANIES IN THE ORGANIZATION'S FACITLIY THAT ARE NOW ON A STRONG GROWTH TRACK AFTER HAVING RECEIVED ADDITIONAL INVESTMENT AND SIGNIFICANTLY GROWN THEIR RESPECTIVE CLIENT BASE. THE "ACTUATOR" TECH ENTREPRENEURSHIP PROGRAM CONTINUES TO ATTRACT MORE ATTENTION AND REGARD WHILE IT HAS ASSISTED OVER 20 NEW TECHNOLOGY COMPANIES TO DATE. SWCI/BRIC'S PROGRAMMING HAS PRODUCED MULTIPLE SUCCESSFUL EVENTS ABOUT TECH AND HAS GARNERED AN INTERNATIONAL AUDIENCE FOR ITS CONTENT.

    Expenses $55,975 · Revenue $12,288

  • COMPUTER SCIENCE INITIATIVE - SWCI/BRIC'S EDUCATIONAL PROGRAMMING AND EFFORTS CONTINUED TO GROW IN 2022 WITH THE EXPANSION OF ITS E-SPORTS TEAM TO A WIDER REGION OF SCHOOLS AND ITS SUCCESSFUL OFFERING OF SUMMER TECHNOLOGY AND CODING CAMPS THAT ENGAGED OVER 100 STUDENTS FROM LOCAL SCHOOLS. IT HAS EXPANDED ITS COLLABORATION WITH LOCAL SCHOOLS TO INTRODUCE MORE STUDENTS TO INNOVATION AND STEM BASED ACTIVITIES IN COMPUTER SCIENCE AND ROBOTICS.

    Expenses $68,549 · Revenue $300

  • BUILD TO SCALE PROGRAM - SWCI/BRICS CONTINUES TO GROW ITS PROGRAMS WITH THE ADDITION OF THE EDA-B2S PROGRAM IN 2022 AFTER RECEIVING FUNDING FROM EDA'S OFFICE ON INNOVATION AND ENTREPRENEURSHIP. THE PROGRAM IS DESIGNED TO INCREASE REGIONAL CAPACITY TO STRENGTHEN ECOSYSTEMS THAT EQUITABLY AND INCLUSIVELY SUPPORT DIVERSE TECHNOLOGY INNOVATORS, ENTREPRENEURS, AND STARTUPS.

    Expenses $11,757

As filed on the 2022 return.

Listed in Part VII

  • Peter Andrews

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Bob Flint

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1.5

  • Matt Dunne

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Heather Frahm

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Patrick Bradley

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Sam Coleman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Marguerite Dibble

    EXECUTIVE DIRECTOR

    Total calculated
    $42,538
    From this org
    $42,538
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Mark Curran

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Lorie Loeb

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Josh Dufresne

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Lyza Danger Gardner

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • Trevor Barlow

    EXECUTIVE DIRECTOR

    Total calculated
    $92,154
    From this org
    $92,154
    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.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
30 October 2023
IRS schema version
2022v5.0
Source object
202343069349302709

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