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← INCUBATOR KITCHEN COLLECTIVE CO

Form 990 for tax year 2023

Filed by INCUBATOR KITCHEN COLLECTIVE CO.

Totals

Total revenue
$302,886
Total expenses
$267,624
Contributions and grants received
$43,720
Grants paid
$0
Program service revenue
$259,091
Investment income
$0
Other revenue
$75
Total assets, end of year
$80,007
Total liabilities, end of year
$619
Net assets or fund balances, end of year
$79,388
Program services expenses (Part IX)
$221,041
Management and general expenses
$46,583
Fundraising expenses
$0
Program service expenses (Part III)
$221,041

Program services were 82.6% 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.

  • 1f · All other contributions, gifts and grants

    $43,720

  • 2a · Program service revenue: RENT INCUBATOR

    total $214,123 · related or exempt $214,123

  • 2b · Program service revenue: EVENTS AND CLASSES

    total $30,280 · related or exempt $30,280

  • 2c · Program service revenue: RENT HATCHERY

    total $7,424 · related or exempt $7,424

  • 2d · Program service revenue: GOOD N' LOCAL

    total $6,775 · related or exempt $6,775

  • 2e · Program service revenue: COOKING CLASSES

    total $489 · related or exempt $489

  • 11a · Other revenue: OTHER INCOME

    total $75 · excluded $75

  • 11e · Other revenue, total

    $75

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $73,029 · program services $36,514 · management and general $36,515

  • 10 · Payroll taxes

    total $6,208 · program services $3,104 · management and general $3,104

  • 11c · Fees: accounting

    total $9,754 · program services $9,754

  • 11g · Fees: other

    total $533 · management and general $533

  • 12 · Advertising and promotion

    total $1,131 · management and general $1,131

  • 13 · Office expenses

    total $2,642 · management and general $2,642

  • 14 · Information technology

    total $919 · program services $459 · management and general $460

  • 16 · Occupancy

    total $102,950 · program services $102,950

  • 19 · Conferences, conventions and meetings

    total $8,686 · program services $8,686

  • 22 · Depreciation, depletion and amortization

    total $8,224 · program services $8,224

  • 23 · Insurance

    total $4,285 · program services $2,142 · management and general $2,143

  • 24a · Other expenses: KITCHEN AND OFFICE SUPPLI

    total $24,652 · program services $24,652

  • 24b · Other expenses: REPAIRS AND MAINTENANCE

    total $14,323 · program services $14,323

  • 24c · Other expenses: SMALL FURNITURE & EQUIP

    total $4,760 · program services $4,760

  • 24d · Other expenses: QB PAYMENT FEES

    total $2,272 · program services $2,272

  • 24e · All other expenses

    total $3,256 · program services $3,201 · management and general $55

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $18,175 · end of year $49,616

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

    $94,652

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

    $64,261

  • 10c · Land, buildings and equipment, net

    beginning of year $26,713 · end of year $30,391

  • 17 · Accounts payable and accrued expenses

    beginning of year $762 · end of year $619

  • 27 · Net assets without donor restrictions

    beginning of year $44,126 · end of year $79,388

Mission and programs · 2023

Mission

INCUBATOR KITCHEN COLLECTIVE CREATES A SHARED KITCHEN SPACE TO SUPPORT FOOD ENTREPRENEURS WITH AN AFFORDABLE, COMPREHENSIVE APPROACH. AT IKC, FOOD ENTREPRENEURS WILL FIND BELOW-MARKET RATE LICENSED KITCHEN FACILITIES; FOOD-FOCUSED ENTREPRENEURIAL EDUCATION; A NETWORK OF MARKETS, INVESTORS, MENTORS AND A COMMUNITY OF PASSIONATE, LIKE-MINDED PEERS. DURING 2018, IKC HELD FOUR DIFFERENT LEARNING WORKSHOPS, SUPPORTED OVER 35 COMPANIES TO LAUNCH AND GROW, AND STARTED A FOOD EDUCATION SERIES.

  • INCUBATOR KITCHEN COLLECTIVE CREATES A SHARED KITCHEN SPACE TO SUPPORT FOOD ENTREPRENEURS WITH AN AFFORDABLE, COMPREHENSIVE APPROACH. AT IKC, FOOD ENTREPRENEURS WILL FIND BELOW-MARKET RATE LICENSED KITCHEN FACILITIES; FOOD-FOCUSED ENTREPRENEURIAL EDUCATION; A NETWORK OF MARKETS, INVESTORS, MENTORS AND A COMMUNITY OF PASSIONATE, LIKE-MINDED PEERS. DURING 2018, IKC HELD FOUR DIFFERENT LEARNING WORKSHOPS, SUPPORTED OVER 35 COMPANIES TO LAUNCH AND GROW, AND STARTED A FOOD EDUCATION SERIES.

    Expenses $221,041 · Revenue $259,091

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

Listed in Part VII

  • Rachel Desrochers

    EXECUTIVE DI

    Total calculated
    $0

  • Stephanie Beck Borden

    DIRECTOR

    Total calculated
    $0

  • Gerald Grubbs

    DIRECTOR

    Total calculated
    $0

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
2023
Filed
21 May 2024
IRS schema version
2023v5.0
Source object
202431859349301653

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