Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Aug 2014.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
58 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
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Who runs it and what they're paid
35 people listed on the 990; $2.1M paid to officers and key staff.
Haven Allen’s $519K as Chief Executive Officer & President is at the 96th percentile of top reported officer pay among 2832 $1–10M community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
Compensation history total reportable pay by year · 8 named individuals · Part VII
| Name | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|
| Haven Allen | $518,833 | $272,543 | $327,565 | $294,301 | $271,101 |
| Manas Mehandru | $361,768 | $223,956 | $250,304 | $218,246 | $197,939 |
| Melissa Lederer | $290,902 | $217,319 | $249,182 | $219,309 | $191,372 |
| Thierry Van Landegem | $185,484 | $175,630 | $178,176 | — | — |
| William Fienup | $177,821 | $174,388 | $142,925 | $125,696 | — |
| Allison Winstel | $156,934 | $140,087 | — | — | — |
| Kimberly Blomquist | $135,312 | — | — | — | — |
| Heather Walsh | — | — | $134,237 | — | — |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
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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 15aYes
Programs and updates
Accelerates physical product startups by providing prototyping resources, mentorship, and corporate partnerships to bring breakthrough hardtech and manufacturing innovations to market.
Questions for Mhub
Your first name shows with your question. Mhub answers here, for everyone.
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Innovation Center
A shared workspace community, within mhub, of product designers, developers, entreneurs, engineers and manufacturers who create breakthrough products in robotics, connected devices, sensors, energy tech, unmanned vehicles and other cutting-edge innovations by providing the right resources, mentorship, and access to manufacturing industry…
Hardtech Development Services (mhub Hd)
Mhub HD accelerates product development by connecting talented, innovative and eager entrepreneurs and startups with established manufacturers and industry leaders. Mhub engages with clients in many ways and various timelines within the development process from ideation to final product.
Mhub Accelerator
Mhub's accelerator program is a six-month program that pairs 8 - 10 demand-driven physical product startups from across the country with corporate leaders and investors for an intensive accelerator program including product development and prototyping, mentorship, business curriculum, and piloting.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2024 990, line by line.
Download 990
| Line | Start FY24 | End FY24 |
|---|---|---|
| Cash and savingsLn 1–2 | $1.6M | $789K |
| Land, buildings, equipmentLn 10c | $1.2M | $1.8M |
| Total assetsLn 16 | $50.0M | $49.5M |
| LiabilitiesLn 26 | $40.9M | $41.7M |
| Net assetsLn 32 | $9.1M | $7.9M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Pay of current officers, directors and key staffLn 5 | $1.5M | $625K | $739K | $114K |
| Other salaries and wagesLn 7 | $2.0M | $1.2M | $774K | $92K |
| Pension plan contributionsLn 8 | $83K | $40K | $38K | $5K |
| Other employee benefitsLn 9 | $187K | $90K | $86K | $12K |
| Payroll taxesLn 10 | $269K | $137K | $117K | $16K |
| Accounting feesLn 11c | $149K | $149K | ||
| Other fees for servicesLn 11g | $2.7M | $2.6M | $65K | $48K |
| Advertising and promotionLn 12 | $201K | $201K | ||
| Office expensesLn 13 | $179K | $65K | $111K | $2K |
| OccupancyLn 16 | $2.5M | $1.3M | $372K | $881K |
| Conferences, conventions and meetingsLn 19 | $80K | $13K | $12K | $56K |
| InterestLn 20 | $508K | $508K | ||
| Depreciation, depletion and amortizationLn 22 | $255K | $137K | $118K | |
| InsuranceLn 23 | $44K | $44K | ||
| Other expenses (24a–d)Ln 24 | $168K | $131K | $37K | |
| Total functional expensesLn 25 | $10.9M | $6.3M | $3.4M | $1.2M |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 Latest Viewing | $9.6M | $10.9M | −$1.2M | $7.9M | 990 PDF |
| FY2023 | $18.8M | $9.2M | $9.6M | $9.1M | 990 PDF |
| FY2022 | $9.1M | $8.2M | $938K | $5.0M | 990 PDF |
| FY2021 | $6.8M | $7.4M | −$602K | −$576K | 990 PDF |
| FY2020 | $5.9M | $6.4M | −$413K | −$2.8M | 990 PDF |
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Schedules filed Part IV
See the full FY2024 990 (6 parts)
Part I · Summary $9,621,327 revenue, 12 lines filed
Part VI · Governance 25 of 25 board members independent, no flags
Part VIII · Statement of revenue $9,621,327 across 10 lines filed
Part IX · Statement of functional expenses $10,868,177 across 15 lines filed
Part X · Balance sheet $49,516,193 assets, 15 lines filed
Part XI · Reconciliation of net assets $7,856,430 net assets at year end
Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File
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