Janesville Innovation Inc
- Assets
- $11.0k
- Revenue
- $139.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Janesville, WI
- Founding
- 11/2013
- Data as of
- 12/2023
- EIN
- 46-3516056
Organization Overview
Janesville Innovation Inc is located in Janesville, WI. The organization was established in 2013. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, 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. Janesville Innovation 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 12/2023, Janesville Innovation Inc generated $139.8k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 4.5% each year. All expenses for the organization totaled $121.0k during the year ending 12/2023. 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
THE CORPORATION'S ACTIVITIES ARE INTENDED TO PROVIDE AN OPPORTUNITY TO SMALLER, LOCALLY OWNED ENTREPRENEURIAL FIRMS TO BE NURTURED THROUGH THEIR FORMATIVE YEARS. RECRUITING AND ASSISTING THESE BUSINESSES, WITH HIGH POTENTIAL FOR GROWTH, EQUATES TO INCREASING JOB OPPORTUNITIES FOR UNEMPLOYED AND UNDEREMPLOYED JANESVILLE AREA RESIDENTS. THE CORPORATION'S PRINCIPAL SERVICE AREA IS THE CITY OF JANESVILLE, WHICH HAS MET THE ECONOMIC DISTRESS CRITERIA AS ESTABLISHED BY THE UNITED STATES DEPT. OF COMMERCE, ECONOMIC DEVELOPMENT ADMINISTRATION. ECONOMIC CONDITIONS IN THIS AREA INCLUDE HIGHER UNEMPLOYMENT RATES THAN OTHER SECTIONS OF THE COUNTRY, LOW PER CAPITA INCOME, AN UNUSUALLY HIGH NUMBER OF PLANT CLOSINGS AND A SIGNIFICANT NUMBER OF LOST MANUFACTURING JOBS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ECONOMIC DEVELOPMENT
ROCK COUNTY ENTREPRENEURIAL BUSINESS DEVELOPMENT PROGRAM - PROMOTE ENTREPRENEURIAL EDUCATION, MENTORSHIP AND TRAINING; AND BUSINESS DEVELOPMENT AND FINANCIAL SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kevin Lahner Director | Trustee | 1 | $0 |
Jimsi Kuborn Director | Trustee | 1 | $0 |
James Otterstein President | Trustee | 1 | $0 |
Mark Gregory Vice President | Trustee | 1 | $0 |
Angela Pakes Director | Trustee | 1 | $0 |
Bruce Kepner 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 | $5 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5 |
| Total Program Service Revenue | $139,840 |
| 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 | $139,845 |
| 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. | $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 | $1,622 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $52,624 |
| Advertising and promotion | $8,142 |
| Office expenses | $756 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $52,567 |
| 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 | $5,248 |
| All other expenses | $0 |
| Total functional expenses | $120,959 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $11,033 |
| 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 | $11,033 |
| Accounts payable and accrued expenses | $8,846 |
| Grants payable | $0 |
| Deferred revenue | $11,352 |
| 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 | $110,757 |
| Total liabilities | $130,955 |
| Net assets without donor restrictions | -$119,922 |
| 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 | $11,033 |