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Nonprofiteer
← SKYSTHELIMIT ORG

Form 990 for tax year 2022

Filed by SKYSTHELIMIT ORG.

Totals

Total revenue
$2,571,830
Total expenses
$2,403,519
Contributions and grants received
$2,650,631
Grants paid
$144,267
Program service revenue
$0
Investment income
-$78,801
Other revenue
$0
Total assets, end of year
$2,520,125
Total liabilities, end of year
$105,172
Net assets or fund balances, end of year
$2,414,953
Program services expenses (Part IX)
$1,836,663
Management and general expenses
$401,988
Fundraising expenses
$164,868
Program service expenses (Part III)
$1,836,663

Program services were 76.4% 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.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $0

  • 1d · Related organizations

    $0

  • 1e · Government grants (contributions)

    $0

  • 1f · All other contributions, gifts and grants

    $2,650,631

  • 1g · Noncash contributions included above

    $0

  • 3 · Investment income

    total $2,058 · related or exempt $0 · unrelated business $0 · excluded $2,058

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $0 · other assets $0

  • 7b · Less cost or other basis and sales expenses

    securities $0 · other assets $80,859

  • 7c · Gain or loss

    securities $0 · other assets -$80,859

  • 7d · Net gain or loss

    total -$80,859 · related or exempt -$80,859 · unrelated business $0 · excluded $0

  • 8a · Fundraising events: contributions included on line 1c

    $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $144,267 · program services $144,267

  • 5 · Compensation of officers, directors and key employees

    total $268,400 · program services $218,669 · management and general $49,731

  • 7 · Other salaries and wages

    total $435,766 · program services $355,023 · management and general $80,743

  • 8 · Pension plan contributions

    total $30,779 · program services $2,900 · management and general $27,879

  • 9 · Other employee benefits

    total $8,088 · program services $8,088

  • 10 · Payroll taxes

    total $51,630 · program services $37,634 · management and general $13,996

  • 11b · Fees: legal

    total $34,878 · management and general $34,878

  • 11c · Fees: accounting

    total $30,937 · management and general $30,937

  • 11g · Fees: other

    total $1,142,722 · program services $945,395 · management and general $67,073 · fundraising $130,254

  • 12 · Advertising and promotion

    total $39,692 · program services $34,633 · management and general $59 · fundraising $5,000

  • 13 · Office expenses

    total $2,948 · program services $205 · management and general $2,396 · fundraising $347

  • 14 · Information technology

    total $85,220 · program services $70,441 · management and general $5,806 · fundraising $8,973

  • 16 · Occupancy

    total $3,751 · program services $3,751

  • 17 · Travel

    total $15,100 · program services $543 · management and general $97 · fundraising $14,460

  • 19 · Conferences, conventions and meetings

    total $7 · fundraising $7

  • 23 · Insurance

    total $19,096 · management and general $19,096

  • 24a · Other expenses: LOSS ON IMPAIRMENT OF DIGITAL ASSETS

    total $50,461 · program services $0 · management and general $50,461 · fundraising $0

  • 24b · Other expenses: DUES AND SUBSCRIPTIONS

    total $39,777 · program services $15,114 · management and general $18,836 · fundraising $5,827

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,316,709 · end of year $2,333,655

  • 4 · Accounts receivable

    end of year $100,000

  • 11 · Investments: publicly traded securities

    beginning of year $4,784 · end of year $81,530

  • 12 · Investments: other securities

    end of year $4,940

  • 15 · Other assets

    beginning of year $95,376

  • 17 · Accounts payable and accrued expenses

    beginning of year $50,625 · end of year $105,172

  • 27 · Net assets without donor restrictions

    beginning of year $2,361,744 · end of year $2,414,953

  • 28 · Net assets with donor restrictions

    beginning of year $4,500 · end of year $0

Mission and programs · 2022

Mission

TO CONNECT UNDERREPRESENTED YOUNG ADULT ENTREPRENEURS WITH ONE-ON-ONE SUPPORT, INCLUDING FROM VOLUNTEER BUSINESS MENTORS, AS WELL AS PROVIDE TAILORED ENTREPRENEURSHIP TRAINING AND BUSINESS FUNDING OPPORTUNITIES.

Activities or mission (Part I)

TO HELP UNDERREPRESENTED ENTREPRENEURS PLAN, LAUNCH AND GROW BUSINESSES THROUGH ONE-ON-ONE MENTORING, TRAINING, AND ACCESS TO CAPITAL.

  • OUR INTEGRATED CORE PROGRAM CONNECTS UNDERREPRESENTED YOUNG ENTREPRENEURS WITH TRAINING, FUNDING, AND A COMMUNITY OF THEIR PEERS & VOLUNTEER PROFESSIONALS ON OUR SKYSTHELIMIT.ORG DIGITAL PLATFORM. OUR ENTREPRENEURS ARE BETWEEN THE AGES OF 18 AND 29 AND ARE MEMBERS OF UNDERREPRESENTED GROUPS, PRIMARILY LOW-INCOME, PEOPLE OF COLOR, AND/OR WOMEN. OUR VOLUNTEER MENTORS ARE PROFESSIONALS FROM LEADING CORPORATIONS AS WELL AS OWNERS AND OPERATORS FROM THE SMALL BUSINESS COMMUNITY. OUR TEAM LEVERAGES OUR PLATFORM TO RECRUIT, SCREEN, TRAIN, MATCH, EVALUATE, AND SUPPORT YOUNG ENTREPRENEURS AND VOLUNTEER BUSINESS ADVISORS & MENTORS AT SCALE. OUR INNOVATIVE STARTUP GRANT PROGRAM AWARDS SMALL GRANTS TO YOUNG ENTREPRENEURS FOR THEIR BUSINESS LAUNCH EXPENSES.

    Expenses $1,836,663 · Grants $143,622

As filed on the 2022 return.

Listed in Part VII

  • William Bo Ghirardelli

    CEO, PRESIDENT BOARD OF DIRECTORS

    Total calculated
    $151,600
    From this org
    $151,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $151,600
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $151,600

  • Joel Higa

    SECRETARY, BOARD OF DIRECTORS

    Total calculated
    $116,800
    From this org
    $116,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Nicolas Cary

    CHAIRMAN, BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    1

  • Brianna Williams

    MEMBER, BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    1

  • John Downie

    MEMBER, BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    1

  • Aubrey Flynn

    MEMBER, BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    1

  • Omar Hajji

    MEMBER, BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    1

  • Fabio Rosati

    MEMBER, BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    1

  • Bradford Smith

    TREASURER, BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    1

  • Rick Wade

    MEMBER, BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    1

  • Clif Marriott

    MEMBER, BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    1

  • Michelle Parsons

    MEMBER, BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    1

  • George Mestre

    MEMBER, BOARD OF DIRECTORS

    Total calculated
    $0
    Hours/week
    1

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

  • 3 · Compensation survey or study

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.

Provenance

Return type
form_990
Tax year
2022
Filed
14 November 2023
IRS schema version
2022v5.0
Source object
202313189349310736

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