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Nonprofiteer
← MHUB SUPPORT CORPORATION

Form 990 for tax year 2023

Filed by MHUB SUPPORT CORPORATION.

Totals

Total revenue
$576,306
Total expenses
$1,334,385
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$286,082
Investment income
$290,224
Other revenue
$0
Total assets, end of year
$54,834,359
Total liabilities, end of year
$55,592,438
Net assets or fund balances, end of year
-$758,079
Program services expenses (Part IX)
$1,311,808
Management and general expenses
$22,577
Fundraising expenses
$0
Program service expenses (Part III)
$1,311,808

Program services were 98.3% 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.

  • 2a · Program service revenue: PROJECT FACILITY

    total $286,082 · related or exempt $286,082

  • 3 · Investment income

    total $290,224 · excluded $290,224

Functional expenses

Part IX, the statement of functional expenses.

  • 11c · Fees: accounting

    total $18,261 · management and general $18,261

  • 13 · Office expenses

    total $8,633 · program services $4,317 · management and general $4,316

  • 20 · Interest

    total $912,516 · program services $912,516

  • 22 · Depreciation, depletion and amortization

    total $356,642 · program services $356,642

  • 24a · Other expenses: TENANT ALLOWANCE EXPENS

    total $38,333 · program services $38,333

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    end of year $2,054,536

  • 2 · Savings and temporary cash investments

    end of year $806,278

  • 9 · Prepaid expenses and deferred charges

    end of year $15,000

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

    $52,336,023

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

    $377,478

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $51,958,545

  • 17 · Accounts payable and accrued expenses

    end of year $2,657,969

  • 23 · Secured mortgages and notes payable

    end of year $52,557,830

  • 25 · Other liabilities

    beginning of year $0 · end of year $376,639

  • 27 · Net assets without donor restrictions

    end of year -$758,079

Mission and programs · 2023

Mission

THE ORGANIZATION OPERATES AT ALL TIMES EXCLUSIVELY FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF, AND/OR TO CARRY OUT THE PURPOSES OF MHUB THAT IS AN ORGANIZATION TO ENABLE U.S. HARDTECH INNOVATION AND COMMERCIALIZATION BY FUELING COLLABORATION AND PROVIDING AN ACCESSIBLE, HYPER-RESOURCED ENVIRONMENT TO DEVELOP, FUND AND ACCELERATE CLEAN ENERGY, HEALTH, SUSTAINABILITY, AND MANUFACTURING ENTREPRENEURSHIP.

Activities or mission (Part I)

SUPPORTING OPERATIONS FOR MHUB, THE NATION'S LARGEST AND FASTEST GROWING INNOVATION CENTER FOR HARDTECH AND MANUFACTURING.

  • SUPPORTING OPERATIONS: LEASING OF THE PROJECT FACILITY TO MHUB FOR OPERATION AS A HARDTECH INNOVATION ACCELERATOR FOCUSED ON RECRUITING, SUPPORTING, DEVELOPING, AND LAUNCHING MINORITY AND WOMEN OWNED BUSINESS ENTERPRISES.

    Expenses $1,311,808 · Revenue $286,082

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Manas Mehandru

    TREASURER

    Total calculated
    $233,504
    From this org
    $0
    From related orgs
    $223,956
    Other
    $9,548
    Hours/week
    0.5 + 49.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $223,956 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $7,896 related
    Nontaxable benefits
    $0 + $1,652 related
    Filer's total
    $0 + $233,504 related

  • Melissa Lederer

    SECRETARY

    Total calculated
    $231,649
    From this org
    $0
    From related orgs
    $217,319
    Other
    $14,330
    Hours/week
    0.2 + 49.8 related

    Schedule J breakdown matched by us

    Base
    $0 + $217,319 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $7,834 related
    Nontaxable benefits
    $0 + $6,496 related
    Filer's total
    $0 + $231,649 related

  • Haven Allen

    PRESIDENT

    Total calculated
    $289,800
    From this org
    $0
    From related orgs
    $272,543
    Other
    $17,257
    Hours/week
    0.2 + 49.8 related

    Schedule J breakdown matched by us

    Base
    $0 + $272,543 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $9,800 related
    Nontaxable benefits
    $0 + $7,457 related
    Filer's total
    $0 + $289,800 related

  • Meredith O'Connor

    BOARD DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2 + 0.2 related

  • Kevin Willer

    BOARD DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2 + 0.2 related

  • Devi Raja

    INDEPENDENT DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • Susan Kai

    INDEPENDENT DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

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

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • MHUB

    501(C)(3) · INNOVATION CENTER FOR HARDTECH AND MANUFACTURING. · IL

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 partnerships

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

  • MHUB PRODUCT IMPACT FUND I LP

    INVESTMENTS · DE

Provenance

Return type
form_990
Tax year
2023
Filed
20 November 2024
IRS schema version
2023v5.1
Source object
202403259349300020

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