Suitup Incorporated
- Assets
- $659.2k
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 14
- Location
- New York, NY
- Founding
- 06/2014
- Data as of
- 12/2023
- EIN
- 46-3381399
Organization Overview
Suitup Incorporated is located in New York, NY. The organization was established in 2014. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 12/2023, Suitup Incorporated employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Suitup Incorporated 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 12/2023, Suitup Incorporated generated $1.7m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 70.5% each year . All expenses for the organization totaled $1.6m during the year ending 12/2023. While expenses have increased by 73.3% per year over the past 6 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO INCREASE CAREER READINESS FOR ALL STUDENTS THROUGH INNOVATIVE BUSINESS PLAN COMPETITIONS. SUITUP'S VISION IS TO ALIGN THE INCENTIVES OF SCHOOLS AND CORPORATIONS TO ENSURE THAT ALL STUDENTS HAVE THE ACCESS AND AWARENESS TO PURSUE THE COLLEGE AND CAREER OF THEIR CHOOSING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2023, SUITUP SERVED 7,665 STUDENTS AND ENGAGED 3,590 CORPORATE VOLUNTEERS IN SUITUP'S IN-PERSON AND VIRTUAL BUSINESS PROGRAMMING. SUITUP RAN 216 BUSINESS COMPETITIONS, MOCK INTERVIEWS, CAREER PANELS, AND NETWORKING FOR STUDENTS, AGES 10-18, FROM UNDERSERVED, UNDERRESOURCED, AND UNDERREPRESENTED COMMUNITIES. AFTER PARTICIPATING IN SUITUP, 95% OF STUDENTS FEEL MORE CONFIDENT IN SCHOOL AND PREPARING FOR A CAREER, 97% ENJOYED THEIR EXPERIENCE AND WANT TO PARTICIPATE AGAIN, AND 90% BELIEVE THEIR SUITUP EXPERIENCE INFLUENCED THEIR FUTURE CAREER CHOICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lauren Reilly Executive Di | Officer | 40 | $83,382 |
Zach Graumann Board Chair | OfficerTrustee | 2 | $0 |
Casey Miller Vice Chair | OfficerTrustee | 2 | $0 |
Daniel Gluck Secretary | OfficerTrustee | 2 | $0 |
Jordan Graumann Treasurer | OfficerTrustee | 2 | $0 |
William Gouveia Secretary- P | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $20,708 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,648,495 |
| Noncash contributions included in lines 1a–1f | $5,298 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,669,203 |
| Total Program Service Revenue | $44,302 |
| Investment income | $39 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$11,875 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,701,669 |
| 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. | $83,382 |
| Compensation of current officers, directors, key employees. | $11,043 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $826,976 |
| Pension plan accruals and contributions | $21,848 |
| Other employee benefits | $71,610 |
| Payroll taxes | $73,564 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $20,050 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $205,159 |
| Advertising and promotion | $3,766 |
| Office expenses | $45,362 |
| Information technology | $31,153 |
| Royalties | $0 |
| Occupancy | $16,070 |
| Travel | $133,543 |
| 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 | $4,129 |
| Insurance | $2,111 |
| All other expenses | $0 |
| Total functional expenses | $1,584,735 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $643,462 |
| 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 | $10,444 |
| Investments—publicly traded securities | $5,298 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $659,204 |
| Accounts payable and accrued expenses | $7,159 |
| 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 | $0 |
| Total liabilities | $7,159 |
| Net assets without donor restrictions | $652,045 |
| 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 | $659,204 |