Launchyourcity Inc
- Assets
- $54.5k
- Revenue
- $661.3k
- Investments
- $7.6k
- Employees
- 7
- Location
- Collierville, TN
- Founding
- 07/2009
- Data as of
- 12/2021
- EIN
- 26-3190220
Organization Overview
Launchyourcity Inc, operating under the name Start Co, is located in Collierville, TN. The organization was established in 2009. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Start Co employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Start Co is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Start Co generated $661.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.6%) each year. All expenses for the organization totaled $897.2k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (0.1%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
LAUNCHYOURCITY SUPPORTS THE EARLIEST STAGES OF ENTREPRENEURSHIP IN MEMPHIS WITH DYNAMIC PROGRAMS THAT ARE DESIGNED TO HELP POTENTIAL ENTREPRENEURS TO TAKE THE FIRST ACTIONABLE STEPS OF STARTING A NEW BUSINESS. ADDITIONALLY, LAUNCHYOURCITY SUPPLIES A CO-WORKING ENVIRONMENT TO LOWER THE ECONOMIC BARRIER OF ENTRY TO INCUBATION ALONG WITH AD HOC MENTORING. FOR STARTUPS AND BUSINESSES, LAUNCHYOURCITY PROVIDES MEMPHIS' ONLY DYNAMIC INNOVATION ECONOMY PROGRAMMING TO KEEP UP-TO-SPEED ON THE LATEST TRENDS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORTING EARLY-STAGE START-UPS IN ALL AREAS OF BUSINESS DEVELOPMENT. ENTREPRENEURS ARE SCHOOLED IN DEVELOPING A BUSINESS MODEL THAT WILL ACHIEVE SUSTAINABILITY. THEY RECEIVE MENTORING, FINANCIAL COUNSELING AND OPPORTUNITIES TO COMPETE IN THE MARKETPLACE FOR INVESTOR FUNDING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eric Mathews Ceo, President, Founder | OfficerTrustee | 40 | $64,250 |
Andre Fowkles Co-President, Observer Boa | OfficerTrustee | 40 | $50,745 |
Darrell Cobbins Board Member, Secretary | OfficerTrustee | 0 | $0 |
Brad Silver Board Member, Treasurer | OfficerTrustee | 0 | $0 |
Charles Beech Board Member | Trustee | 0 | $0 |
Douglas Scarboro Board Member | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $97,500 |
| All other contributions, gifts, grants, and similar amounts not included above | $118,751 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $216,251 |
| Total Program Service Revenue | $437,791 |
| Investment income | $21 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $661,263 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $114,996 |
| Compensation of current officers, directors, key employees. | $11,500 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $375,753 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $23,542 |
| Payroll taxes | $26,713 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,080 |
| Fees for services: Accounting | $30,405 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $100,756 |
| Advertising and promotion | $498 |
| Office expenses | $1,104 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $85,408 |
| Travel | $12,116 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $6,000 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,918 |
| Insurance | $8,001 |
| All other expenses | $5,558 |
| Total functional expenses | $897,153 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $13,072 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $26,250 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $5,188 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $7,594 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,433 |
| Total assets | $54,537 |
| Accounts payable and accrued expenses | $127,557 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $120,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $166,895 |
| Total liabilities | $414,452 |
| Net assets without donor restrictions | -$359,915 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $54,537 |
Grants Awarded
Over the last fiscal year, Launchyourcity Inc has awarded $580,432 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Memphis, TN PURPOSE: ECOSYSTEM SUPPORT AND DEVELOPMENT | $330,432 |
New York, NY PURPOSE: ECOSYSTEM SUPPORT AND DEVELOPMENT | $250,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Launchyourcity Inc has recieved totaling $7,500.
| Awarding Organization | Amount |
|---|---|
Community Foundation Of Greater Memphis Inc Memphis, TN PURPOSE: GENERAL OPERATIONAL SUPPORT | $7,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Central Arkansas Development Council Benton, AR | $22,711,775 | $63,852,394 |
Southern Mississippi Planning And Development District Inc Gulfport, MS | $44,385,657 | $33,837,059 |
Metro Atlanta Host Committee Inc Atlanta, GA | $222,399 | $14,582,853 |
Economic Development Partnership Of North Carolina Inc Raleigh, NC | $8,246,221 | $25,900,688 |
Mississippi County Arkansas Economic Opportunity Commission In Blytheville, AR | $4,387,153 | $19,452,667 |
South Alabama Regional Planning Commission Mobile, AL | $10,162,715 | $18,722,811 |
Atlanta Convention & Vistors Bureau Inc Atlanta, GA | $20,280,984 | $17,066,911 |
Memphis Convention And Visitors Bureau Memphis, TN | $38,589,779 | $17,172,027 |
St Louis Economic Development Partnership Saint Louis, MO | $27,235,860 | $13,883,018 |
Purchase Area Development District Inc Mayfield, KY | $0 | $14,269,202 |
Tennessee Technology Development Corporation Nashville, TN | $18,062,853 | $12,109,273 |
Riverfront Development Corporation Memphis, TN | $39,591,502 | $20,233,137 |