Bowie Business Innovation Center Inc
- Assets
- $386.8k
- Revenue
- $496.4k
- Investments
- $0.0
- Employees
- 2
- Location
- Bowie, MD
- Founding
- 01/2012
- Data as of
- 12/2021
- EIN
- 27-1352516
Organization Overview
Bowie Business Innovation Center Inc is located in Bowie, MD. The organization was established in 2012. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. As of 12/2021, Bowie Business Innovation Center Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bowie Business Innovation Center Inc 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, Bowie Business Innovation Center Inc generated $496.4k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.4% each year. All expenses for the organization totaled $390.3k during the year ending 12/2021. While expenses have increased by 11.3% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
A KEY EDUCATIONAL RESOURCE AND DRIVER OF ENTREPRENEURSHIP IN BOWIE AND PRINCE GEORGE'S COUNTY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE BOWIE BUSINESS INNOVATION CENTER (BOWIE BIC) IS A BUSINESS ACCELERATOR PROGRAM WHERE TECHNOLOGY COMPANIES AND GOVERNMENT CONTRACTORS IN THE CITY OF BOWIE AND PRINCE GEORGE'S COUNTY ACCESS MENTORING, TECHNICAL ASSISTANCE, COUNSELING, AND CONNECTIONS TO PARTNERS AND CAPITAL TO ACCELERATE THEIR BUSINESS GROWTH. HEADQUARTERED AT THE CENTER FOR BUSINESS AT BOWIE STATE UNIVERSITY, BOWIE BIC IS THE ONLY BUSINESS ACCELERATOR IN MARYLAND LOCATED AT A HISTORICALLY BLACK COLLEGE (HBCU). IN 2021, BOWIE BIC'S 107 ACCELERATOR PROGRAM CLIENTS AND GRADUATES REPORT GENERATING 522 JOBS, $73.4 MILLION IN REVENUES, AND SUPPORTING 7 INTERNSHIPS FOR BOWIE STATE UNIVERSITY STUDENTS. WE ALSO ASSISTED 1707 COUNTY ENTREPRENEURS, WHO PARTICIPATED IN ON-SITE TRAINING AND COUNSELING PROGRAMS. IN 2021, BOWIE BIC CONTINUED AMERICA'S FIRST 8(A) ACCELERATOR PROGRAM IN COLLABORATION WITH THE U.S. SMALL BUSINESS ADMINISTRATION AND WITH FUNDING SUPPORT FROM CAPITAL ONE. THE 8(A) ACCELERATOR HELPED 89 MINORITY BUSINESSES WIN $36 MILLION IN FEDERAL GOVERNMENT CONTRACTING BUSINESS THROUGH ITS PROGRAM OF CAPTURE STRATEGY DEVELOPMENT, MENTORING AND NETWORKING. BOWIE BIC IS A MARYLAND NON-PROFIT ORGANIZATION FUNDED THROUGH A PUBLIC/PRIVATE PARTNERSHIP WITH THE PRINCE GEORGE'S COUNTY COUNCIL, THE CITY OF BOWIE, MARYLAND TECHNOLOGY DEVELOPMENT CORPORATION (TEDCO), THE CORPORATE COMMUNITY AND ITS CLIENTS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lisa S Smith Executive Director | Officer | 40 | $111,707 |
Sherman L Ragland II Chair | OfficerTrustee | 1 | $0 |
Wendy L Jenkins Vice Chair | OfficerTrustee | 1 | $0 |
Greg Bussink Treasurer | OfficerTrustee | 1 | $0 |
Charlene T Wade Secretary | OfficerTrustee | 1 | $0 |
Isaias Alba Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $375,121 |
| All other contributions, gifts, grants, and similar amounts not included above | $66,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $441,121 |
| Total Program Service Revenue | $34,810 |
| Investment income | $153 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $20,350 |
| 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 | $496,434 |
| 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. | $111,706 |
| Compensation of current officers, directors, key employees. | $22,341 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $66,041 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $4,073 |
| Payroll taxes | $5,894 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,325 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $113,690 |
| Advertising and promotion | $385 |
| Office expenses | $18,126 |
| Information technology | $17,588 |
| Royalties | $0 |
| Occupancy | $39,421 |
| Travel | $317 |
| 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 | $1,424 |
| All other expenses | $631 |
| Total functional expenses | $390,292 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $94,563 |
| Savings and temporary cash investments | $287,381 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,400 |
| 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 | $2,821 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $675 |
| Total assets | $386,840 |
| Accounts payable and accrued expenses | $57,350 |
| 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 | $6,280 |
| Total liabilities | $63,630 |
| Net assets without donor restrictions | $323,210 |
| 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 | $386,840 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Bowie Business Innovation Center Inc has recieved totaling $15,000.
| Awarding Organization | Amount |
|---|---|
Cla Foundation Minneapolis, MN PURPOSE: GENERAL OPERATING SUPPORT | $15,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Graduate Management Admission Council Reston, VA | $230,212,828 | $77,127,681 |
Educational Commission For Foreign Medical Graduates Philadelphia, PA | $218,692,756 | $72,786,979 |
National Center For Research In Advanced Information & Digital Tec Washington, DC | $0 | $38,475,850 |
Common Application Inc Arlington, VA | $52,971,416 | $52,316,500 |
Longwood University Real Estate Foundation Farmville, VA | $322,438,396 | $31,911,007 |
Education Trust Inc Washington, DC | $60,384,663 | $28,594,144 |
Fwdus Education Fund Inc Washington, DC | $39,522,128 | $52,902,160 |
Chiefs For Change Washington, DC | $30,000,112 | $22,072,365 |
Achieving The Dream Inc Silver Spring, MD | $48,979,373 | $23,156,070 |
Camc Health Education And Research Institute Inc Charleston, WV | $10,132,150 | $15,955,209 |
Us Ignite Inc Washington, DC | $5,718,790 | $15,311,234 |
Washington Yu Ying Public Charter School Washington, DC | $27,086,728 | $12,170,772 |