Form 990 for tax year 2023
Filed by MISSOURI INNOVATION CENTER INC.
Totals
- Total revenue
- $632,622
- Total expenses
- $782,225
- Contributions and grants received
- $279,942
- Grants paid
- $0
- Program service revenue
- $339,733
- Investment income
- $12,947
- Other revenue
- $0
- Total assets, end of year
- $633,776
- Total liabilities, end of year
- $137,488
- Net assets or fund balances, end of year
- $496,288
- Program services expenses (Part IX)
- $678,504
- Management and general expenses
- $103,721
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $678,504
Program services were 86.7% 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)
$279,942
-
2a · Program service revenue: INCUBATOR RENTAL SERVI
total $330,506 · related or exempt $330,506
-
2b · Program service revenue: INCUBATOR TENANT SERVI
total $9,227 · related or exempt $9,227
-
3 · Investment income
total $12,947 · excluded $12,947
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $185,728 · program services $185,728
-
7 · Other salaries and wages
total $212,499 · program services $123,891 · management and general $88,608
-
11c · Fees: accounting
total $10,521 · management and general $10,521
-
11g · Fees: other
total $3,274 · program services $3,274
-
12 · Advertising and promotion
total $3,825 · management and general $3,825
-
13 · Office expenses
total $17,028 · program services $16,261 · management and general $767
-
14 · Information technology
total $305 · program services $305
-
16 · Occupancy
total $306,543 · program services $306,543
-
17 · Travel
total $80 · program services $80
-
19 · Conferences, conventions and meetings
total $5,791 · program services $5,791
-
23 · Insurance
total $5,861 · program services $5,861
-
24a · Other expenses: MICELLANEOUS
total $30,450 · program services $30,450
-
24b · Other expenses: BAD DEBT
total $320 · program services $320
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $648,385 · end of year $447,127
-
2 · Savings and temporary cash investments
beginning of year $144,094 · end of year $147,893
-
4 · Accounts receivable
beginning of year $1,668 · end of year $31,866
-
9 · Prepaid expenses and deferred charges
beginning of year $5,890 · end of year $5,890
-
15 · Other assets
beginning of year $1,000 · end of year $1,000
-
17 · Accounts payable and accrued expenses
beginning of year $111,366 · end of year $104,812
-
19 · Deferred revenue
beginning of year $21,895 · end of year $18,261
-
25 · Other liabilities
beginning of year $23,892 · end of year $14,415
-
27 · Net assets without donor restrictions
beginning of year $630,497 · end of year $482,901
-
28 · Net assets with donor restrictions
beginning of year $13,387 · end of year $13,387
Mission and programs · 2023
Mission
TO NURTURE ENTREPRENEURS AS THEY CREATE HIGH-GROWTH VENTURES IN MID MISSOURI THAT IMPROVE LIVES AND GROW THE ECONOMY.
-
MIC'S MISSION IS TO NURTURE ENTREPRENEURS AS THEY CREATE HIGH-GROWTH VENTURES IN MID-MISSOURI THAT IMPROVE LIVES AND GROW THE ECONOMY. MIC OPERATES AND MANAGES A LIFE SCIENCE BUSINESS INCUBATOR AND COLLECTS RENTS FROM OUR CLIENT COMPANIES TO OFFSET THE COSTS OF RUNNING THE INCUBATOR SPACE. IN ADDITION TO OFFICE AND LABORATORY SPACE, WE OFFER BUSINESS INCUBATION SERVICES FOCUSED ON COACHING AND MENTORING ENTREPRENEURS. WE ASSIST WITH CUSTOMER DISCOVER, FEASIBILITY STUDIES, BUSINESS MODEL DEVELOPMENT, BUILDING MANAGEMENT TEAMS, ENTREPRENEURIAL FINANCE (SBIR/STTR GRANTS, ANGEL CAPITAL, VENTURE CAPITAL), AND MAKING CONNECTIONS TO UNIVERSITY, COMMUNITY AND STATE RESOURCES. CURRENTLY WE HAVE 15 RESIDENT CLIENTS AND SERVE AN ADDITIONAL 10 NON-RESIDENT CLIENTS.
Expenses $678,504 · Revenue $339,733
As filed on the 2023 return.
Listed in Part VII
-
Jeff LashleyJEFF LASHLEY
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 1
-
Randa RawlinsRANDA RAWLINS
VICE CHAIR & SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
Carolyn HenryCAROLYN HENRY
VICE CHAIR & SECRETARY (THRU 9/30/23)
- Total calculated
- $0
- Hours/week
- 1
-
Mark GingrichMARK GINGRICH
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Jay AlexanderJAY ALEXANDER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Barbara BuffaloeBARBARA BUFFALOE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Brant BukowskyBRANT BUKOWSKY
DIRECTOR (THRU 9/30/23)
- Total calculated
- $0
- Hours/week
- 1
-
Stacey ButtonSTACEY BUTTON
EX OFFICIO
- Total calculated
- $0
- Hours/week
- 1
-
Leah CohnLEAH COHN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Chris DaubertCHRIS DAUBERT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Praveen EdaraPRAVEEN EDARA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Eugene GerkeEUGENE GERKE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Steve GuthrieSTEVE GUTHRIE
EX OFFICIO
- Total calculated
- $0
- Hours/week
- 1
-
John HallJOHN HALL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Kip KendrickKIP KENDRICK
EX OFFICIO
- Total calculated
- $0
- Hours/week
- 1
-
Noah ManringNOAH MANRING
DIRECTOR (THRU 11/15/23)
- Total calculated
- $0
- Hours/week
- 1
-
Matt McCormickMATT MCCORMICK
EX OFFICIO
- Total calculated
- $0
- Hours/week
- 1
-
Balaji RajagopalanBALAJI RAJAGOPALAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Kelsey RaymondKELSEY RAYMOND
DIRECTOR (THRU 9/30/23)
- Total calculated
- $0
- Hours/week
- 1
-
Scott RectorSCOTT RECTOR
DIRECTOR (THRU 9/30/23)
- Total calculated
- $0
- Hours/week
- 1
-
Tom SpencerTOM SPENCER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Quinten MessbargerQUINTEN MESSBARGER
PRESIDENT AND CEO
- Total calculated
- $185,728
- From this org
- $150,000
- From related orgs
- $0
- Other
- $35,728
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $150,000
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $35,728
- Filer's total
- $185,728
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
The filer's explanations (Part III)
- FORM 990, SCHEDULE J, PART II, LINE 1:
- ALL EMPLOYEES, INCLUDING QUINTEN MESSBARGER, ARE PAID BY THE UNIVERSITY OF MISSOURI AND THEN THE UNIVERSITY IS REIMBURSED BY MISSOURI INNOVATION CENTER, INC.
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
No itemized grants to organizations on this return.
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
MIC ACCELERATOR FUND MANAGER
C · FUND ADMINISTRATION · MO · 100% owned · share of income $18,000 · share of assets $37,118 · controlled entity
Directly controlled by MO INNOVATION CENTER
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 18 February 2025
- IRS schema version
- 2023v6.0
- Source object
- 202520809349301112
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