philanthropy.org | 990 Resource | FAQ Verify yourself
Sign in

Insite Mentor Capital INC

IRS exemption revoked

New York, NYUnknown exempt organization EIN 05-0539236Revenue $54K in FY2021

On file with the IRSinsitefellows.org25 East 63rd Street No 6 · New York, NY

Claim this org

(tell your story, add context, and more)

What claiming does How does your 990 look to donors? Take the 10-Question Audit

To strengthen the entrepreneurial ecosystem in nyc by bring together a select group of graduate students, start-ups and venture capitalists and enabling them to contribute to this ecosystem through a unique mentorship and development program.

95¢ of each $1 spent went to programs.
$51K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
Revoked
IRS exemption revoked
Concern: the IRS revoked its tax exemption.
IRS Auto-Revocation List
Latest return
FY2021
latest Form 990
Concern: the latest return is for FY2021, 5 tax years back; more than 4 tax years.
IRS e-file · Filing history
Spent on programs
95%
of spending
Looks good: 95% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$51K
to officers and key staff · 87% of spending
Concern: pay to officers and key staff is 87% of spending; over 30%.
Pt VII · Sec A
Cash reserves
9 mo
of spending, in cash
Looks good: 8.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $38
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
12
of 14 voting members
Looks good: 12 of 14 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$54K
Spent
$59K
To programs
95%
Net assets
$42K

From the FY2021 Form 990 (year ending June 2021) · see the original

990 PDF Claim
IRS revoked this organization's tax-exempt status on November 15, 2024

Is it real?

No. The IRS revoked its tax exemption. Latest filing on record: FY2021.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

95 cents of each dollar spent went to programs.

Program services 95% · $56K Management & general 5% · $3K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Something off? Claim to add context

Who runs it and what they're paid

14 people listed on the 990; $51K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Paul Tumpowsky
Chairperson
$51,000Pt VII · Sec A
Rich Nespola
Vice Chairperson
$0Pt VII · Sec A
Karl Alomar
Director
$0Pt VII · Sec A
Sanjay Amin
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Alex Ferrara
Director
$0Pt VII · Sec A
Abe Geiger
Director
$0Pt VII · Sec A
Vinay Jain
Director
$0Pt VII · Sec A
See Insite Mentor Capital INC executive salaries →

On this list? Claim this org

Something off? Claim to add context

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Connects graduate students, startups, and venture capitalists to boost NYC's entrepreneurial ecosystem.

Questions for Insite Mentor Capital INC

Tap to ask. Insite Mentor Capital INC sees how many people are interested.

Your first name shows with your question. Insite Mentor Capital INC answers here, for everyone.

Provided by the organization

Know this org? Add your story

1 program · $56K · in their own filed words · FY2020
01

Hosting of events bringing together a select group of graduate students, highly promising new york area based start-ups and leading new york city based venture capitalists enabling them to dialog about a unique mentorship and development program.

$56Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2023
Amazonsmile FoundationFY2023$38
Total grants receivedfrom 1 funder$38

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$54K
Ln 12
Gifts and grantsLn 1h$54K
Investment incomeLn 3$21
Money outPt IX
$59K
Ln 25
Programscol B$56K
Managementcol C$3K
Owns and owesPt X
$42K
net assets · Ln 32
Cash and savingsLn 1–2$42K
Total assetsLn 16$42K
LiabilitiesLn 26$0
PeoplePt VI, VII
14
listed · VII A
PaidVII A1
Voting boardVI 1a14
IndependentVI 1b12
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$54K
Investment incomeLn 3$21
Total revenueLn 12$54K
Assets in detailPt X, end of year
SavingsLn 2$42K
Cash and savings togetherLn 1–2$42K
Total assetsLn 16$42K
LiabilitiesLn 26$0
Net assetsLn 32$42K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$47K$42K
Total assetsLn 16$47K$42K
LiabilitiesLn 26$0$0
Net assetsLn 32$47K$42K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$51K$51K
Accounting feesLn 11c$2K$2K
Office expensesLn 13$559$559
InsuranceLn 23$812$812
Other expenses (24a–d)Ln 24$4K$4K$45
Total functional expensesLn 25$59K$56K$3K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2021 Latest Viewing $54K$59K−$5K$42K 990 PDF

More to add? Claim this org

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $53,854 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $92,091$53,833
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $30$21
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $92,121$53,854
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $66,750$51,000
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $24,343$7,830
I-18 Total expensesPrior year $91,093$58,830
I-19 Revenue less expensesPrior year $1,028−$4,976
Part VI · Governance 12 of 14 board members independent, 4 to look at
VI-1a Voting members of the governing body14
VI-1b Independent voting members12
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $53,854 across 4 lines filed
VIII-1f All other contributions, gifts and grants$53,833
VIII-1h Total contributions, gifts and grants$53,833
VIII-3 Investment incomeExcluded from tax $21$21
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $21$53,854
Part IX · Statement of functional expenses $58,830 across 5 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $51,000$51,000
IX-11c Accounting feesManagement $2,500$2,500
IX-13 Office expensesManagement $559$559
IX-23 InsurancePrograms $812$812
IX-24 Other expenses (24a–d)Programs $3,914 · Management $45$3,959
IX-25 Total functional expensesPrograms $55,726 · Management $3,104 · Fundraising $0$58,830
Part X · Balance sheet $41,998 assets, 5 lines filed
X-2 Savings and temporary cash investmentsStart of year $46,974$41,998
X-16 Total assetsStart of year $46,974$41,998
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $46,974$41,998
X-33 Total liabilities and net assetsStart of year $46,974$41,998
Part XI · Reconciliation of net assets $41,998 net assets at year end
XI-1 Total revenue$53,854
XI-2 Total expenses$58,830
XI-3 Revenue less expenses−$4,976
XI-4 Net assets at start of year$46,974
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$41,998

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

Similar organizations you could support · Compare with another nonprofit

Names, privacy, and removal requests More

The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.

We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.

Your org? Add context

Made it to the end? Claim this org

All figures are derived from public IRS Form 990 filings and are presented without evaluation of any organization. philanthropy.org does not rate, score, or rank organizations, including the pay comparisons above.