Colab
- Assets
- $581.4k
- Revenue
- $775.2k
- Investments
- $0.0
- Employees
- 11
- Location
- Chattanooga, TN
- Founding
- 08/2009
- Data as of
- 12/2022
- EIN
- 26-3934828
Organization Overview
Colab is located in Chattanooga, TN. The organization was established in 2009. According to its NTEE Classification (A20) the organization is classified as: Arts & Culture, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2022, Colab employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Colab 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 12/2022, Colab generated $775.2k 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 (10.2%) each year. All expenses for the organization totaled $801.1k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (6.0%) 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO INCREASE THE VIABILITY OF STARTUPS IN CHATTANOOGA AND THE SURROUNDING REGION BY CONNECTING ENTREPRENEURS WITH EXPERTISE, RESOURCES, AND COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GIGTANK 365 IS A MENTORSHIP-BASED PROGRAM DESIGNED FOR SOFTWARE AND TECHNOLOGY-BACKED COMPANIES IN THE GREATER CHATTANOOGA REGION. THE STAGE-GATE MENTORING PROGRAM TARGETS TECH-ENABLED STARTUPS, FOCUSED ON FOUNDER AND COMPANY NEEDS.
COLAB'S OUTDOOR RECREATION ACCELERATOR IS A 12-WEEK COHORT-BASED PROGRAM THAT IS BUILT ON CHATTANOOGA'S OUTDOOR INDUSTRY. THE OUTDOOR RECREATION ACCELERATOR PROGRAM WILL SUPPORT 9-12 COMPANIES, WHOSE PRODUCTS AND SERVICES FOCUS ON OUTDOOR RECREATION AND CONSERVATION.
COLAB'S CONSUMER PRODUCTS ACCELERATOR TAKES 10-12 COMPANIES FOR A 12-WEEK ACCELERATOR PROGRAM. COMPANIES PARTICIPATING IN THE ACCELERATOR PROGRAM MUST HAVE AT MINIMUM TESTED THEIR PRODUCT IN THE MARKET AND DEMONSTRATED A COMPLETE PROOF OF CONCEPT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lindsey Cox Executive Director Through 7/11/2022 | Officer | 40 | $85,673 |
Tasia Malakasis Executive Director As Of 7/11/2022 | OfficerTrustee | 40 | $78,155 |
Tom Lyons Director | Trustee | 1 | $0 |
Charita Allen Director | Trustee | 1 | $0 |
Adrienne Cooper Director | Trustee | 1 | $0 |
Aaron Cramer Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $773,322 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $773,322 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $775,157 |
| 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. | $163,828 |
| Compensation of current officers, directors, key employees. | $33,257 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $297,775 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $35,356 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $86,106 |
| Advertising and promotion | $18,907 |
| Office expenses | $22,304 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $52,826 |
| Travel | $28,673 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,320 |
| Insurance | $30,206 |
| All other expenses | $0 |
| Total functional expenses | $801,146 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $542,518 |
| Pledges and grants receivable | $29,697 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $6,955 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $2,214 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $581,384 |
| Accounts payable and accrued expenses | $20,707 |
| 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 | $4,473 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $25,180 |
| Net assets without donor restrictions | $491,807 |
| Net assets with donor restrictions | $64,397 |
| 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 | $581,384 |