The Youngstown Edison Incubator Corporation
- Assets
- $13.9m
- Revenue
- $3.4m
- Investments
- $0.0
- Employees
- 26
- Location
- Youngstown, OH
- Founding
- 05/1996
- Data as of
- 12/2021
- EIN
- 34-1751707
Organization Overview
The Youngstown Edison Incubator Corporation is located in Youngstown, OH. The organization was established in 1996. 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, Youngstown Edison Incubator Corporation employed 26 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Youngstown Edison Incubator Corporation 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, Youngstown Edison Incubator Corporation generated $3.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $4.0m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Youngstown Edison Incubator Corporation has awarded 97 individual grants totaling $5,001,061. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
BUSINESS DEVELOPMENT: TO CULTIVATE, ACCELERATE AND PRMOTE THE FORMATION, GROWTH, COMMERCIALIZATION AND INNOVATION OF TECHNOLOGY-BASED BUSINESSES BY PROVIDING THE COMPREHENSIVE, HIGH QUALITY ENTREPRENEURIAL SERVICES AND RESORUCES IN A ROBUST ENVIRONMENT THAT PROMOTES COMPANY SUCCESS, ATTRACTION AND RETENTION TO CULTIVATE, ACCELERATE AND PROMOTE THE FORMATION, GROWTH, COMMERCIALIZATION, AND INNOVATION OF TECHNOLOGY-BASED BUSINESSES BY PROVIDING COMPREHENSIVE, HIGH QUALITY ENTREPRENEURIAL SERVICES AND RESOURCES IN A ROBUST ENVIRONMENT THAT PROMOTES COMPANY SUCCESS, ATTRACTION AND RETENTION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO ACCELERATE THE FORMATION OF BUSINESS, CREATION OF JOBS AND ASSIST IN THE REVITALIZATION AND GROWTH OF THE MAHONING VALLEY.
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 |
|---|---|---|---|
Barb Ewing CEO | Officer | 40 | $126,814 |
Stephanie Gaffney Dir.-Adv.manufacturing Pro | 40 | $108,219 | |
James Dascenzo Chairperson | OfficerTrustee | 1 | $0 |
Evan Morrison Vice Chairperson | OfficerTrustee | 1 | $0 |
Stuart A Strasfeld Secretary | OfficerTrustee | 1 | $0 |
William Shivers Treasurer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $79,122 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,280,013 |
| All other contributions, gifts, grants, and similar amounts not included above | $545,938 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,905,073 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $432,421 |
| 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 | $3,372,066 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $857,350 |
| 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. | $137,746 |
| Compensation of current officers, directors, key employees. | $31,074 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $673,008 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $58,449 |
| Payroll taxes | $70,613 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,956 |
| Fees for services: Accounting | $77,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $611,533 |
| Advertising and promotion | $131,304 |
| Office expenses | $10,049 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $433,606 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $50,713 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $693,358 |
| Insurance | $43,568 |
| All other expenses | $19,662 |
| Total functional expenses | $3,970,894 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $150,596 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $577,726 |
| Accounts receivable, net | $194,196 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $50,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $9,667 |
| Net Land, buildings, and equipment | $12,847,460 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $50,000 |
| Total assets | $13,879,645 |
| Accounts payable and accrued expenses | $179,027 |
| Grants payable | $203,840 |
| Deferred revenue | $2,950 |
| 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 | $1,241,925 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,627,742 |
| Net assets without donor restrictions | $12,208,009 |
| Net assets with donor restrictions | $43,894 |
| 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 | $13,879,645 |
Grants Awarded
Over the last fiscal year, The Youngstown Edison Incubator Corporation has awarded $846,347 in support to 17 organizations.
| Grant Recipient | Amount |
|---|---|
DEFENSE & ENERGY SYSTEMS LLC PURPOSE: GRANT SUBRECIPIENT | $232,453 |
YOUNGSTOWN STATE UNIVERSITY PURPOSE: GRANT SUBRECIPIENT | $120,765 |
EVENT 38 UNMANNED SYSTEMS INC PURPOSE: GRANT SUBRECIPIENT | $79,197 |
OPEN ADDITIVE LLC PURPOSE: GRANT SUBRECIPIENT | $66,497 |
HUMTOWN PRODUCTS PURPOSE: GRANT SUBRECIPIENT | $64,119 |
JUGGERBOT3D PURPOSE: GRANT SUBRECIPIENT | $61,652 |
Grants Recieved
Over the last fiscal year, we have identified 9 grants that The Youngstown Edison Incubator Corporation has recieved totaling $97,785.
| Awarding Organization | Amount |
|---|---|
American Endowment Foundation Hudson, OH PURPOSE: COMMUNITY DEVELOPMENT | $50,000 |
Community Foundation Of Mahoning Valley Youngstown, OH PURPOSE: PROGRAM SUPPORT | $17,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: PUBLIC, SOCIETAL BENEFIT | $10,000 |
Youngstown Foundation Pittsburgh, PA PURPOSE: PROGRAM SUPPORT | $5,825 |
Senator Maurice And Florence Lipscher Charitable Fund Pittsburgh, PA PURPOSE: GENERAL SUPPORT | $5,000 |
Dominion Energy Charitable Foundation Richmond, VA PURPOSE: YBI ELEVATING EVERY ENTREPRENEUR PROGRAM | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Pidc Financing Corp Philadelphia, PA | $6,556,052 | $18,403,713 |
Visit Indy Inc Indianapolis, IN | $20,981,890 | $14,589,218 |
Purchase Area Development District Inc Mayfield, KY | $0 | $14,269,202 |
The Convention And Visitors Bureau Of Greater Cleveland Inc Cleveland, OH | $25,296,918 | $17,425,666 |
Ridc Regional Growth Fund Pittsburgh, PA | $36,670,171 | $9,947,122 |
Columbus Downtown Development Corporation Columbus, OH | $118,710,723 | $12,117,471 |
Delaware County Economic Development Oversight Board Media, PA | $2,255,958 | $10,697,300 |
Metropolitan Detroit Convention & Vistors Bureau Detroit, MI | $36,765,048 | $14,015,809 |
Alleghenies Planning And Development Commission Altoona, PA | $25,721,818 | $9,986,298 |
Greater Philadelphia Tourism Marketing Corporation Philadelphia, PA | $11,403,385 | $8,019,397 |
Detroit Economic Growth Corp Detroit, MI | $7,209,211 | $10,420,774 |
Lawrence Economic Development Corporation South Point, OH | $62,339,240 | $9,945,474 |