Novacomm
- Assets
- $3.4k
- Revenue
- $10.0k
- Investments
- $0.0
- Employees
- 0
- Location
- San Diego, CA
- Founding
- 08/2010
- Data as of
- 06/2022
- EIN
- 26-4236050
Organization Overview
Novacomm is located in San Diego, CA. The organization was established in 2010. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Novacomm 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 06/2022, Novacomm generated $10.0k 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 (24.3%) each year. All expenses for the organization totaled $49.2k during the year ending 06/2022. 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
NOVACOMM'S MISSION IS TO CREATE JOBS AND EDUCATE SOUTHERN CALIFORNIA'S HIGH-TECH COMMUNITY AT LARGE, PRIMARILY THROUGH THE EVONEXUS INCUBATOR.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EVONEXUS IS A LEADING NON-PROFIT HIGH-TECH TRADE ORGANIZATION AND INCUBATOR WITH LOCATIONS IN SAN DIEGO, IRVINE AND SAN MATEO. OUR MISSION IS TO STIMULATE THE GROWTH OF NEW HIGH TECHNOLOGY COMPANIES IN OUR REGION. WE PROVIDE FULL SERVICES - FURNISHED OFFICE SPACE, DOMAIN EXPERTS AND MENTORS, AND THE OPPORTUNITY TO LEVERAGE OUR WIDE NETWORK OF BUSINESS AND VC CONTRACTS - TO START-UP COMPANIES STRIVING TO ACHIEVE SUSTAINABILITY. ADMITTED STARTUPS WILL PARTICIPATE IN THE PROGRAM UP TO 24 MONTHS.EVONEXUS' STATISTICS TO DATE:- ESTABLISHED OCTOBER 2009- 5,000+ APPLICATIONS RECEIVED, 260 COMPANIES IN OUR PORTFOLIO- $3.6B IN TOTAL FUNDING AND ACQUISITION OUTCOME BY COMPANIES. 85% OF COMPANIES RECEIVED FUNDING DURING INCUBATION. - 80% OF PORTFOLIO COMPANIES ARE STILL ACTIVE- 15 COMPANIES CURRENTLY INCUBATING- 50 ACQUISITIONS- 4,000+ JOBS CREATED
MARKETLINK IS AN OPPORTUNITY FOR COMPANIES TO INITIATE AND DEVELOP STRATEGIC RELATIONSHIPS WITH LEADING MULTI-NATIONAL CORPORATIONS. THIS UNIQUE AND POWERFUL PROGRAM INTRODUCES PARTICIPATING COMPANIES TO TOP-LEVEL EXECUTIVES SEARCHING FOR NEW PRODUCTS AND TECHNOLOGIES, ALL AT NO COST TO THE APPLICANT. THE PROGRAM IS A HIGHLY EFFICIENT AND EFFECTIVE VEHICLE FOR CONNECTING INDUSTRY GIANTS WITH QUALITY COMPANIES DEVELOPING THE LATEST TECHNOLOGY AND PRODUCTS.MARKETLINK HAS CONNECTED INNOVATIVE COMPANIES WITH MULTI-NATIONAL CORPORATIONS SUCH AS VIASAT, CUBIC, HP, LG AND OTHERS IN A TARGETED AND EXTREMELY TIME-EFFICIENT MANNER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Major Chairman | OfficerTrustee | 1 | $0 |
Tara Agen Secretary | OfficerTrustee | 1 | $0 |
Tom Hartman Treasurer | OfficerTrustee | 1 | $0 |
Ake Persson Board Member | Trustee | 1 | $0 |
Admiral Walter Davis Board Member | OfficerTrustee | 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 | $10,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,000 |
| Total Program Service Revenue | $0 |
| Investment income | $2 |
| 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 | $10,002 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $48,000 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| 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 | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $49,202 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,422 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,422 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,268 |
| Total liabilities | $1,268 |
| Net assets without donor restrictions | $0 |
| 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 | $2,154 |
| Total liabilities and net assets/fund balances | $3,422 |