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Elevate Aerospace & Logistics Incubator FY2022 filing

Lakeland, FLUnknown exempt organization EIN 87-4082687Revenue $93K in FY2022Latest return filed Feb 20, 2026

On file with the IRSelevateincubator.comLakeland, FL

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To help budding entrepreneurs establish companies in Aerospace and Logistics industries.

69¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 4
filings with a surplus
Average surplus $0 a year · under 1% of revenue · last 4 filings
Worth a look: a surplus in 2 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
69%
of spending
Fine: 69% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Fine: 1.8 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $144K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$105K
99% of total assets
Concern: liabilities are 99% of assets; over 80%.
Pt X · Ln 26
Independent board members
1
of 2 voting members
Fine: 1 of 2 voting members are independent, half.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$93K
Spent
$92K
To programs
69%
Net assets
$1K
By yearFY2022–FY2025
Revenue
$93K
FY2022
Tap a bar for its year
Revenue by fiscal year
FY2022$93K
FY2023$158K
FY2024$6K
FY2025$2K
Expenses
$92K
FY2022
Tap a bar for its year
Expenses by fiscal year
FY2022$92K
FY2023$101K
FY2024$54K
FY2025$12K
Net assets
$1K
FY2022
Tap a bar for its year
Net assets by fiscal year
FY2022$1K
FY2023$58K
FY2024$10K
FY2025$0

From the FY2022 Form 990 (year ending September 2022) · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025.

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

Where the money goes

69 cents of each dollar spent went to programs.

Program services 69% · $64K Management & general 31% · $29K

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

4 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
$0Pt VII · Sec A
John Leenhouts
Vice-President/CEO Until 09/26/2022
$0Pt VII · Sec A
Eric Crump
Executive Director as of 06/2022
$0Pt VII · Sec A
$0Pt VII · Sec A
See Elevate Aerospace & Logistics Incubator executive salaries →

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

Helps new entrepreneurs start aerospace and logistics companies.

Questions for Elevate Aerospace & Logistics Incubator

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1 program · $64K · in their own filed words · FY2021
01

Elevate offers a membership program where entrepreneurs can grow their business and ideas through virtual engagement with mentors AND/OR private office space for companies who are ready to take the next step.

$64Kprogram 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 · FY2024
Aerospace Center for Excellence INCFY2024$144K
Total grants receivedfrom 1 funder$144K

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$93K
Ln 12
Gifts and grantsLn 1h$92K
Fees for servicesLn 2g$1K
Money outPt IX
$92K
Ln 25
Programscol B$64K
Managementcol C$29K
Owns and owesPt X
$1K
net assets · Ln 32
Cash and savingsLn 1–2$14K
Total assetsLn 16$106K
LiabilitiesLn 26$105K
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a2
IndependentVI 1b1
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$92K
Fees for servicesLn 2g$1K
Total revenueLn 12$93K
Assets in detailPt X, end of year
CashLn 1$14K
Cash and savings togetherLn 1–2$14K
Prepaid expenses and deferred chargesLn 9$150
Other assetsLn 15$92K
Total assetsLn 16$106K
LiabilitiesLn 26$105K
Net assetsLn 32$1K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderSeptember
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 FY22End FY22
Cash and savingsLn 1–2$14K
Total assetsLn 16$0$106K
LiabilitiesLn 26$0$105K
Net assetsLn 32$0$1K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$18K$9K$9K
Other employee benefitsLn 9$548$274$274
Advertising and promotionLn 12$6K$6K$623
Office expensesLn 13$4K$998$3K
OccupancyLn 16$63K$47K$16K
Other expenses (24a–d)Ln 24$610$549$61
Total functional expensesLn 25$92K$64K$29K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS Feb 20, 2026 $2K$12K−$10K$0 990 PDF
FY2024Filed with the IRS Aug 12, 2025 $6K$54K−$48K$10K 990 PDF
FY2023Filed with the IRS Aug 14, 2024 $158K$101K$57K$58K 990 PDF
FY2022 ViewingFiled with the IRS Aug 29, 2023 $93K$92K$1K$1K 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants O · Explanations
See the full FY2022 990 (6 parts)
Part I · Summary $93,324 revenue, 12 lines filed
I-8 Contributions and grants$92,024
I-9 Program service revenue$1,300
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenue$93,324
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$18,390
I-16a Professional fundraising fees$0
I-17 Other expenses$73,898
I-18 Total expenses$92,288
I-19 Revenue less expenses$1,036
Part VI · Governance 1 of 2 board members independent, 3 to look at
VI-1a Voting members of the governing body2
VI-1b Independent voting members1
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
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $93,324 across 4 lines filed
VIII-1d Related organizations$92,024
VIII-1h Total contributions, gifts and grants$92,024
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,300$1,300
VIII-12 Total revenueRelated to mission $1,300 · Unrelated business $0 · Excluded from tax $0$93,324
Part IX · Statement of functional expenses $92,288 across 6 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $8,921 · Management $8,921$17,842
IX-9 Other employee benefitsPrograms $274 · Management $274$548
IX-12 Advertising and promotionPrograms $5,608 · Management $623$6,231
IX-13 Office expensesPrograms $998 · Management $2,992$3,990
IX-16 OccupancyPrograms $47,300 · Management $15,767$63,067
IX-24 Other expenses (24a–d)Programs $549 · Management $61$610
IX-25 Total functional expensesPrograms $63,650 · Management $28,638 · Fundraising $0$92,288
Part X · Balance sheet $106,022 assets, 10 lines filed
X-1 Cash, non-interest-bearing$13,858
X-9 Prepaid expenses and deferred charges$150
X-15 Other assetsStart of year $0$92,014
X-16 Total assetsStart of year $0$106,022
X-25 Other liabilitiesStart of year $0$104,986
X-26 Total liabilitiesStart of year $0$104,986
X-27 Net assets without donor restrictionsStart of year $0$0
X-28 Net assets with donor restrictionsStart of year $0$1,036
X-32 Total net assets or fund balancesStart of year $0$1,036
X-33 Total liabilities and net assetsStart of year $0$106,022
Part XI · Reconciliation of net assets $1,036 net assets at year end
XI-1 Total revenue$93,324
XI-2 Total expenses$92,288
XI-3 Revenue less expenses$1,036
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,036

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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