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.
80¢ of each $1 spent went to programs.
$347K 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

FY2023 · 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
80%
of spending
Looks good: 80% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$347K
to officers and key staff · 17% of spending
Fine: pay to officers and key staff is 17% of spending; 15% to 20%.
Pt VII · Sec A
4 mo
of spending, in cash
Looks good: 3.9 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
$2.2M
101% of total assets
Concern: liabilities are 101% of assets; over 80%.
Pt X · Ln 26
Independent board members
20
of 20 voting members
Looks good: 20 of 20 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.9M
+50% vs prior year
Spent
$2.0M
To programs
80%
Net assets
−$17K
By yearFY2020–FY2024
Revenue
$1.9M
FY2023▲ +50%
Tap a bar for its year
Revenue by fiscal year
FY2020$763K
FY2021$957K
FY2022$1.3M
FY2023$1.9M
FY2024$2.2M
Expenses
$2.0M
FY2023▲ +15%
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
−$17K
FY2023▲ +86%
Tap a bar for its year
Net assets by fiscal year
FY2020$298K
FY2021$236K
FY2022−$127K
FY2023−$17K
FY2024−$347K

From the FY2023 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 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

80 cents of each dollar spent went to programs.

Program services 80% · $1.6M Management & general 16% · $315K Fundraising 5% · $93K

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

22 people listed on the 990; $347K paid to officers and key staff.

Part VII, Section A · reportable compensation
$160,543Pt VII · Sec A
Executive Dir.
$147,585Pt VII · Sec A
Board Member
$38,854Pt VII · Sec A
$0Pt VII · Sec A
Vice Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
Secretary
$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 · $1.6M · in their own filed words · FY2023
01

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

$1.6Mprogram 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 FY2023 990, line by line.

1The main four
Money inPt VIII
$1.9M
Ln 12
Fees for servicesLn 2g$1.1M
Gifts and grantsLn 1h$706K
Other incomeLn 4–11$126K
Money outPt IX
$2.0M
Ln 25
Programscol B$1.6M
Managementcol C$315K
Fundraisingcol D$93K
Owns and owesPt X
−$17K
net assets · Ln 32
Cash and savingsLn 1–2$663K
Total assetsLn 16$2.2M
LiabilitiesLn 26$2.2M
PeoplePt VI, VII
22
listed · VII A
PaidVII A3
Voting boardVI 1a20
IndependentVI 1b20
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$706K
Government grantsLn 1e$552K
Fees for servicesLn 2g$1.1M
Investment incomeLn 3$10K
Other incomeLn 4–11$126K
Gains on assetsLn 7$0
Total revenueLn 12$1.9M
Assets in detailPt X, end of year
CashLn 1$663K
SavingsLn 2$0
Cash and savings togetherLn 1–2$663K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$9K
Other assetsLn 15$1.4M
Total assetsLn 16$2.2M
LiabilitiesLn 26$2.2M
Net assetsLn 32−$17K
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 FY23End FY23
Cash and savingsLn 1–2$572K$663K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$12K$9K
Total assetsLn 16$1.9M$2.2M
LiabilitiesLn 26$2.0M$2.2M
Net assetsLn 32−$127K−$17K
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$208K$208K
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$855K$788K$45K$22K
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$49K$46K$2K$1K
Payroll taxesLn 10$73K$68K$3K$2K
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$13K$13K$670
Advertising and promotionLn 12$57K$57K
Office expensesLn 13$0
Information technologyLn 14$50K$30K$20K$1K
RoyaltiesLn 15$0
OccupancyLn 16$239K$192K$47K
TravelLn 17$5K$2K$2K$813
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$14K$14K
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$16K$13K$3K
InsuranceLn 23$7K$5K$1K
Other expenses (24a–d)Ln 24$377K$154K$157K$65K
All other expensesLn 24e$54K$35K$20K
Total functional expensesLn 25$2.0M$1.6M$315K$93K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 LatestFiled with the IRS Oct 15, 2025 $2.2M$2.5M−$286K−$347K 990 PDF
FY2023 ViewingFiled 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
FY2021Filed 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 J · Pay O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $1,918,298 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $483,452$705,759
I-9 Program service revenuePrior year $792,180$1,076,942
I-10 Investment incomePrior year $1,133$9,713
I-11 Other revenuePrior year $3,128$125,884
I-12 Total revenuePrior year $1,279,893$1,918,298
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $766,211$1,186,179
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $993,155$831,333
I-18 Total expensesPrior year $1,759,366$2,017,512
I-19 Revenue less expensesPrior year −$479,473−$99,214
Part VI · Governance 20 of 20 board members independent, 3 to look at
VI-1a Voting members of the governing body20
VI-1b Independent voting members20
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 $1,918,298 across 11 lines filed
Lines not itemized here account for $8,531 of total revenue; see the IRS return.
VIII-1e Government grants$551,827
VIII-1f All other contributions, gifts and grants$153,932
VIII-1h Total contributions, gifts and grants$705,759
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $962,827 · Excluded from tax $105,584$1,068,411
VIII-3 Investment incomeExcluded from tax $9,713$9,713
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 $125,884$125,884
VIII-12 Total revenueRelated to mission $1,097,242 · Excluded from tax $115,297$1,918,298
Part IX · Statement of functional expenses $2,017,512 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 $208,020$208,020
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesPrograms $787,924 · Management $44,914 · Fundraising $22,458$855,296
IX-8 Pension plan contributions$0
IX-9 Other employee benefitsPrograms $45,954 · Management $2,313 · Fundraising $1,156$49,423
IX-10 Payroll taxesPrograms $68,361 · Management $3,387 · Fundraising $1,692$73,440
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 $12,792 · Management $670$13,462
IX-12 Advertising and promotionPrograms $56,661$56,661
IX-13 Office expenses$0
IX-14 Information technologyPrograms $29,526 · Management $19,563 · Fundraising $1,006$50,095
IX-15 Royalties$0
IX-16 OccupancyPrograms $191,520 · Management $47,303$238,823
IX-17 TravelPrograms $2,011 · Management $1,874 · Fundraising $813$4,698
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 InterestManagement $13,750$13,750
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationPrograms $12,544 · Management $3,136$15,680
IX-23 InsurancePrograms $5,442 · Management $1,360$6,802
IX-24 Other expenses (24a–d)Programs $154,056 · Management $157,343 · Fundraising $65,487$376,886
IX-24e All other expensesPrograms $34,730 · Management $19,746$54,476
IX-25 Total functional expensesPrograms $1,609,541 · Management $315,359 · Fundraising $92,612$2,017,512
Part X · Balance sheet $2,188,013 assets, 21 lines filed
X-1 Cash, non-interest-bearingStart of year $572,491$662,906
X-2 Savings and temporary cash investments$0
X-3 Pledges and grants receivableStart of year $75,000$40,022
X-4 Accounts receivableStart of year $9,997$60,975
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred chargesStart of year $7,750$9,290
X-10c Land, buildings and equipment, netStart of year $12,257$8,898
X-11 Publicly traded securities$0
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assetsStart of year $10,000$0
X-15 Other assetsStart of year $1,172,570$1,405,922
X-16 Total assetsStart of year $1,860,065$2,188,013
X-17 Accounts payable and accrued expensesStart of year $80,775$112,995
X-19 Deferred revenueStart of year $40,039$15,656
X-25 Other liabilitiesStart of year $991,210$913,098
X-26 Total liabilitiesStart of year $1,987,024$2,205,399
X-27 Net assets without donor restrictionsStart of year −$260,124−$59,875
X-28 Net assets with donor restrictionsStart of year $133,165$42,489
X-32 Total net assets or fund balancesStart of year −$126,959−$17,386
X-33 Total liabilities and net assetsStart of year $1,860,065$2,188,013
Part XI · Reconciliation of net assets −$17,386 net assets at year end
XI-1 Total revenue$1,918,298
XI-2 Total expenses$2,017,512
XI-3 Revenue less expenses−$99,214
XI-4 Net assets at start of year−$126,959
XI-6 Donated services and use of facilities$188,417
XI-8 Prior period adjustments$20,370
XI-10 Net assets at end of year−$17,386

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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