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← AGTECH INNOVATION ALLIANCE

Form 990 for tax year 2023

Filed by AGTECH INNOVATION ALLIANCE.

Totals

Total revenue
$882,106
Total expenses
$754,929
Contributions and grants received
$365,790
Grants paid
$5,000
Program service revenue
$516,316
Investment income
$0
Other revenue
$0
Total assets, end of year
$1,019,225
Total liabilities, end of year
$226,267
Net assets or fund balances, end of year
$792,958
Program services expenses (Part IX)
$743,610
Management and general expenses
$11,319
Fundraising expenses
$0
Program service expenses (Part III)
$754,041

Program services were 98.5% 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

    $2,290

  • 1e · Government grants (contributions)

    $300,000

  • 1f · All other contributions, gifts and grants

    $63,500

  • 2a · Program service revenue: Incubation Services

    total $516,316 · related or exempt $509,116 · excluded $7,200

  • 2b · Program service revenue: AgTech Nation Network

  • 2c · Program service revenue: Education Mentorship

  • 8c · Net income from fundraising events

    total $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $5,000 · program services $5,000

  • 4 · Benefits paid to or for members

    total $953 · program services $953

  • 7 · Other salaries and wages

    total $66,426 · program services $66,426

  • 10 · Payroll taxes

    total $25,434 · program services $25,434

  • 11a · Fees: management

    total $9,813 · program services $9,813

  • 13 · Office expenses

    total $695 · program services $695

  • 14 · Information technology

    total $4,069 · program services $4,069

  • 16 · Occupancy

    total $392,345 · program services $392,345

  • 17 · Travel

    total $887 · management and general $887

  • 20 · Interest

    total $8,486 · program services $8,486

  • 22 · Depreciation, depletion and amortization

    total $153,486 · program services $153,486

  • 23 · Insurance

    total $10,432 · management and general $10,432

  • 24a · Other expenses: Expensed Durable Equipmen

    total $22,478 · program services $22,478

  • 24b · Other expenses: Lab Consummables Supplies

    total $22,915 · program services $22,915

  • 24c · Other expenses: Storage and Transport

    total $31,510 · program services $31,510

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $57,765 · end of year $169,287

  • 9 · Prepaid expenses and deferred charges

    beginning of year $31,000 · end of year $31,000

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

    $1,118,188

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

    $299,250

  • 10c · Land, buildings and equipment, net

    beginning of year $884,897 · end of year $818,938

  • 17 · Accounts payable and accrued expenses

    beginning of year $6,589 · end of year -$2,445

  • 21 · Escrow or custodial account liability

    beginning of year $27,050 · end of year $40,163

  • 24 · Unsecured notes and loans payable

    beginning of year $274,242 · end of year $188,549

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $122,239 · end of year $127,177

  • 31 · Retained earnings, endowment or other funds

    beginning of year $543,542 · end of year $665,781

Mission and programs · 2023

Mission

We accelerate innovation in our global food system providing education mentorship & incubation services to startup companies commercializing Ag|Food|Health innovations.

Activities or mission (Part I)

We accelerate innovation in our food system by providing education mentorship incubation srvcs to startups commercializing AgriFoodTec

  • AIA operates The Lab@AgStart, an incubator for science-based startup companies in Woodland, CA. The Lab@AgStart houses and supports regional Ag|Food|Health technology startups to advance innovation in our global food system and grow economic activity in Woodland and the surrounding Greater-Sacramento region. Revenues include user fees that help offset the cost of operations. Expenses include equipment, consumable supplies, occupancy and specialized services to operate and maintain the facility.

    Expenses $729,579 · Revenue $679,816

  • During 2023, our organization launched AgTech Nation, a collaborative nationwide network of AgriFoodTech entrepreneur-support organizations to better support and connect regional entrepreneurs to the mentors, connections, and resources they need to succeed. We launched the program in 2023, but will continue rolling out this program in 2024 & 2025, distributing funds to support other regional entrepreneur- support organizations and implementing training programs to educate their entrepreneurs.

    Expenses $23,509 · Grants $5,000 · Revenue $200,000

  • Education and mentorship of innovators and entrepreneurs pursuing Agri Food innovation in AgStart's Greater-Sacramento region and beyond. Monthly Office Hours mentoring sessions, in-person and virtual speaker sessions. Revenue includes membership fees, if any. Expenses include meetup expenses and refreshments.

    Expenses $953

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

Listed in Part VII

  • Ken Hiatt

    Ch Finl Officer

    Total calculated
    $0
    Hours/week
    1

  • Trish Kelly

    Secretary

    Total calculated
    $0

  • John Selep

    President Board Chair

    Total calculated
    $0
    Hours/week
    20

  • Matthew Peyret

    Director

    Total calculated
    $0

  • Pam Marrone

    Director

    Total calculated
    $0

  • Alberto Iandolino

    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

Provenance

Return type
form_990
Tax year
2023
Filed
15 May 2024
IRS schema version
2023v5.0
Source object
202411369349310721

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