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Launch INC EIN 83-2564017

Launch INC FY2023 filing

EIN  83-2564017 Public charity (501(c)(3)) Chapel Hill, NC
Form 990 (PDF)
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Size
$100K–1M
What they do
Provides co-working space and resources to help Orange County startups grow and create jobs.
Leadership
Sheryl Waddell · Treasurer
Money in and out
$284K revenue, $320K expenses
Bottom line
86% program efficiency

Provides co-working space and resources to help Orange County startups grow and create jobs. For fiscal year 2023 it reported $284K in revenue, $320K in expenses, and $162K in net assets.Pt I

Where the money goes · FY2023
Total revenue
$284K
Pt VIII · Ln 12
Total expenses
$320K
Pt IX · Ln 25
Net assets
$162K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$37K
Where spending went · Part IX cols B–D
Program services $0.86 Management & general $0.14
Program efficiency
86%
of spending reaches programs
Operating runway
10.2mo
months of highly liquid reserves at operating expense rate
Surplus margin
-13%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2023 · Form 990
Revenue
$284K
FY2023▲ +3%
Expenses
$320K
FY2023▲ +13%
Total assets
$287K
FY2023▲ +45%
Total liabilities
$126K
FY2023
Total revenue
$284K
Pt VIII · Ln 12
Total expenses
$320K
Pt IX · Ln 25
Net assets
$162K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$37K
Total assetsPt X · Ln 16$287K
Program-expense ratioPt IX · col B86%
Voting members of governing bodyPt I · Ln 33
Independent voting membersPt I · Ln 43
Mission & Programs · Part III

Where the work happens

1 program service account for $276K of program spending, described in the organization's own filed words · FY2022.
01

Launch Chapel Hill, a start-up accelerator located in downtown Chapel Hill, fostershigh-potential entrepreneurs who are committed to building their early-stage, high-potential businesses into self-sustaining enterprises.

$276Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CLaunch INC
EINHdr · item D83-2564017
Principal addressHdr · item CChapel Hill, NC
WebsiteHdr · item Jwww.launchchapelhill.com
Year of formationHdr · item Lpending
State of legal domicileHdr · item MNC
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFCommunity Development (S43)
Ruling yearIRS BMFAug 2019

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a3
Independent voting membersPt VI · Ln 1b3
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Ian Baltutis’s $110K as Executive Di is at the 78th percentile of top reported officer pay among 1711 $100K–1M 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 · 3 named individuals · Part VII

NameFY2025FY2024
Tim Flood—$113,500
Ian Baltutis$109,671—
Ian Batutis—$9,833

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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Statement of Revenue

Part VIII
Contributions & grants$366K · 129%
Program service revenue$38K · 13%
Contributions & grants129%$366K
Program service revenue13%$38K
— government grantsLn 1e$366K
Total revenueLn 12$284K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.86 Management & general $0.14
Program services86%$276K
Management & general14%$44K
Total functional expensesLn 25$320K

Balance Sheet

Part X · end of year
CashLn 1$271K
Total assetsLn 16$287K
Total liabilitiesLn 26$126K
Total net assetsLn 32$162K
Months of cash on handcomputed10.2

Financial Metrics

Form 990 · FY2023 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $271K · Operating expenses/yr $320K
10.2 months
Where the money goes
Program services
Program services $276K · Total expenses $320K
86%
Management & General
Management & general $44K · Total expenses $320K
14%
Fundraising
Fundraising $0 · Total expenses $320K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $3K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $366K · Total revenue $284K
129%
Government reliance
Government grants $366K · Total revenue $284K
129%
Earned-income share
Program service revenue $38K · Total revenue $284K
13%
Investment reliance
Investment income $-120K · Total revenue $284K
-42%
Program self-sufficiency
Program service revenue $38K · Total expenses $320K
12%
Growth & trend
Revenue growth (YoY)
This year $284K · Prior year $276K
+3%
Net-asset trend (YoY)
End of year $162K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $284K · Expenses $320K
-13%
Liabilities-to-Assets
Total liabilities — · Total assets $287K
—
Net-asset ratio
Net assets $162K · Total assets $287K
56%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $0 · Other securities (Pt X, ln 12) $0 · Total assets (Pt X, ln 16) $287K
0%
People & payroll
Highest Reported Total Compensation
Individual Sheryl Waddell · Reported title Treasurer · Highest reported compensation $0 · Total expenses $320K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $0 · Total expenses $320K
0%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 86%——
Overhead ratio 14%——
Fundraising cost ratio 0%——
Revenue growth 3%——
Investment management fee ratio 0%——
Legal fee ratio 0%——
Accounting fee ratio 3%——
Fundraising fee ratio 0%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2023
Charities Aid Foundation AmericaFY2023$10K
Total grants receivedfrom 1 funder$10K
Grants paid · 1 grant · $38K · 2023–2023
Unitemized GrantFY2023$37,500

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025 (Latest)$278K revenue · ⤓ 990 PDF
FY2024$343K revenue · ⤓ 990 PDF
FY2023$284K revenue · viewing · ⤓ 990 PDF
FY2022$276K revenue · ⤓ 990 PDF
FY2021$229K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2023IRS
Classification, formation year, addressIRS Business Master File
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