Our mission is to help launch and accelerate high-potential companies. Our vision is to become the center of coworking and entrepreneurship in Indiana.

501(c)(3) charity; gifts are tax-deductible.
68¢ of each $1 spent went to programs.
$133K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 5
filings with a surplus
Average deficit $307K a year · 22% of revenue · last 5 filings
Concern: a surplus in 0 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
68%
of spending
Fine: 68% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$133K
to officers and key staff · 11% of spending
Looks good: pay to officers and key staff is 11% of spending; 15% or less.
Pt VII · Sec A
8 mo
of spending, in cash
Looks good: 8.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $16K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$877K
79% of total assets
Worth a look: liabilities are 79% of assets; over 65%.
Pt X · Ln 26
Independent board members
16
of 16 voting members
Looks good: 16 of 16 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$957K
+25% vs prior year
Spent
$1.2M
To programs
68%
Net assets
$236K
By yearFY2020–FY2024
Revenue
$957K
FY2021▲ +25%
Tap a bar for its year
Revenue by fiscal year
FY2020$763K
FY2021$957K
FY2022$1.3M
FY2023$1.9M
FY2024$2.2M
Expenses
$1.2M
FY2021▲ +9%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.1M
FY2021$1.2M
FY2022$1.8M
FY2023$2.0M
FY2024$2.5M
Net assets
$236K
FY2021▼ -21%
Tap a bar for its year
Net assets by fiscal year
FY2020$298K
FY2021$236K
FY2022−$127K
FY2023−$17K
FY2024−$347K

From the FY2021 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in May 2018.

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

Where the money goes

68 cents of each dollar spent went to programs.

Program services 68% · $848K Management & general 27% · $336K Fundraising 5% · $63K

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

17 people listed on the 990; $133K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Dir.
$133,243Pt VII · Sec A
$0Pt VII · Sec A
Vice Chair
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

John Fernandez’s $185K as CEO & Past Senior VP is at the 61st 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 · 4 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
John Fernandez$185,468$160,543———
Pat East$157,668$147,585$159,167$133,243$136,036
Michelle Cole$21,572$38,854———
Anne McCombe$22,425————

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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Helps launch and accelerate high-potential companies, aiming to be Indiana's entrepreneurship hub.

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Provided by the organization

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1 program · $848K · in their own filed words · FY2021
01

Support the technology and innovation community by producing events and programming.

$848Kprogram 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
Total grants receivedfrom 1 funder$16K

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$957K
Ln 12
Fees for servicesLn 2g$715K
Gifts and grantsLn 1h$240K
Other incomeLn 4–11$790
Money outPt IX
$1.2M
Ln 25
Programscol B$848K
Managementcol C$336K
Fundraisingcol D$63K
Owns and owesPt X
$236K
net assets · Ln 32
Cash and savingsLn 1–2$856K
Total assetsLn 16$1.1M
LiabilitiesLn 26$877K
PeoplePt VI, VII
17
listed · VII A
PaidVII A1
Voting boardVI 1a16
IndependentVI 1b16
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$240K
Government grantsLn 1e$134K
Fees for servicesLn 2g$715K
Investment incomeLn 3$663
Other incomeLn 4–11$790
Gains on assetsLn 7$0
Total revenueLn 12$957K
Assets in detailPt X, end of year
CashLn 1$356K
SavingsLn 2$500K
Cash and savings togetherLn 1–2$856K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$12K
Other assetsLn 15$193K
Total assetsLn 16$1.1M
LiabilitiesLn 26$877K
Net assetsLn 32$236K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
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$446K$856K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$14K$12K
Total assetsLn 16$658K$1.1M
LiabilitiesLn 26$360K$877K
Net assetsLn 32$298K$236K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$460K$322K$92K$46K
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$0
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$33K$23K$7K$3K
Payroll taxesLn 10$37K$26K$7K$4K
Management feesLn 11a$0
Legal feesLn 11b$0
Accounting feesLn 11c$0
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$121K$77K$42K$2K
Advertising and promotionLn 12$31K$22K$6K$3K
Office expensesLn 13$0
Information technologyLn 14$18K$4K$13K$2K
RoyaltiesLn 15$0
OccupancyLn 16$296K$195K$101K
TravelLn 17$7K$1K$6K$217
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$10K$10K
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$34K$33K$805
InsuranceLn 23$7K$5K$1K$172
Other expenses (24a–d)Ln 24$162K$120K$42K
All other expensesLn 24e$31K$20K$8K$3K
Total functional expensesLn 25$1.2M$848K$336K$63K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 LatestFiled with the IRS Oct 15, 2025 $2.2M$2.5M−$286K−$347K 990 PDF
FY2023Filed with the IRS Sep 26, 2024 $1.9M$2.0M−$99K−$17K 990 PDF
FY2022Filed with the IRS Nov 11, 2023 $1.3M$1.8M−$479K−$127K 990 PDF
FY2021 ViewingFiled with the IRS Nov 15, 2022 $957K$1.2M−$291K$236K 990 PDF
FY2020Filed with the IRS Oct 12, 2021 $763K$1.1M−$379K$298K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $956,907 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $342,901$240,086
I-9 Program service revenuePrior year $414,290$715,368
I-10 Investment incomePrior year $197$663
I-11 Other revenuePrior year $5,368$790
I-12 Total revenuePrior year $762,756$956,907
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $416,522$530,082
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $724,782$717,423
I-18 Total expensesPrior year $1,141,304$1,247,505
I-19 Revenue less expensesPrior year −$378,548−$290,598
Part VI · Governance 16 of 16 board members independent, 3 to look at
VI-1a Voting members of the governing body16
VI-1b Independent voting members16
VI-2 Family or business relationship among officers or directorsYes
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-12a Written conflict of interest policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $956,907 across 11 lines filed
Lines not itemized here account for $8,596 of total revenue; see the IRS return.
VIII-1e Government grants$133,684
VIII-1f All other contributions, gifts and grants$106,402
VIII-1h Total contributions, gifts and grants$240,086
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $683,978 · Excluded from tax $22,794$706,772
VIII-3 Investment incomeExcluded from tax $663$663
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising events$0
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $790$790
VIII-12 Total revenueRelated to mission $693,364 · Excluded from tax $23,457$956,907
Part IX · Statement of functional expenses $1,247,505 across 31 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staffPrograms $322,182 · Management $92,052 · Fundraising $46,025$460,259
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wages$0
IX-8 Pension plan contributions$0
IX-9 Other employee benefitsPrograms $23,296 · Management $6,656 · Fundraising $3,328$33,280
IX-10 Payroll taxesPrograms $25,580 · Management $7,309 · Fundraising $3,654$36,543
IX-11a Management fees$0
IX-11b Legal fees$0
IX-11c Accounting fees$0
IX-11d Lobbying fees$0
IX-11f Investment management fees$0
IX-11g Other fees for servicesPrograms $77,103 · Management $41,544 · Fundraising $2,284$120,931
IX-12 Advertising and promotionPrograms $21,612 · Management $6,175 · Fundraising $3,087$30,874
IX-13 Office expenses$0
IX-14 Information technologyPrograms $3,680 · Management $13,083 · Fundraising $1,635$18,398
IX-15 Royalties$0
IX-16 OccupancyPrograms $195,098 · Management $101,289$296,387
IX-17 TravelPrograms $1,181 · Management $5,593 · Fundraising $217$6,991
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 InterestManagement $10,375$10,375
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationPrograms $33,218 · Management $805$34,023
IX-23 InsurancePrograms $5,495 · Management $1,416 · Fundraising $172$7,083
IX-24 Other expenses (24a–d)Programs $119,540 · Management $42,179$161,719
IX-24e All other expensesPrograms $20,410 · Management $7,577 · Fundraising $2,655$30,642
IX-25 Total functional expensesPrograms $848,395 · Management $336,053 · Fundraising $63,057$1,247,505
Part X · Balance sheet $1,112,801 assets, 21 lines filed
X-1 Cash, non-interest-bearingStart of year $383,453$355,699
X-2 Savings and temporary cash investmentsStart of year $62,230$500,066
X-3 Pledges and grants receivableStart of year $73,019$11,640
X-4 Accounts receivable$0
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred charges$0
X-10c Land, buildings and equipment, netStart of year $14,162$12,418
X-11 Publicly traded securities$0
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assetsStart of year $70,000$40,000
X-15 Other assetsStart of year $55,006$192,978
X-16 Total assetsStart of year $657,870$1,112,801
X-17 Accounts payable and accrued expensesStart of year $35,348$58,800
X-19 Deferred revenueStart of year $59,770$49,722
X-25 Other liabilitiesStart of year $79,839$78,226
X-26 Total liabilitiesStart of year $359,957$876,748
X-27 Net assets without donor restrictionsStart of year $297,913$191,553
X-28 Net assets with donor restrictions$44,500
X-32 Total net assets or fund balancesStart of year $297,913$236,053
X-33 Total liabilities and net assetsStart of year $657,870$1,112,801
Part XI · Reconciliation of net assets $236,053 net assets at year end
XI-1 Total revenue$956,907
XI-2 Total expenses$1,247,505
XI-3 Revenue less expenses−$290,598
XI-4 Net assets at start of year$297,913
XI-6 Donated services and use of facilities$247,059
XI-9 Other changes in net assets−$18,321
XI-10 Net assets at end of year$236,053

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

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