Divinc
- Assets
- $1.2m
- Revenue
- $2.3m
- Investments
- $0.0
- Employees
- 19
- Location
- Austin, TX
- Founding
- 05/2017
- Data as of
- 03/2022
- EIN
- 81-3052133
Organization Overview
Divinc is located in Austin, TX. The organization was established in 2017. 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. As of 03/2022, Divinc employed 19 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Divinc 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 03/2022, Divinc generated $2.3m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 74.7% each year . All expenses for the organization totaled $2.0m during the year ending 03/2022. 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
DIVINC SERVES AS A BRIDGE FOR UNDERREPRESENTED ENTREPRENEURS AND THE TECH STARTUP ECOSYSTEM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DIVINC'S PROGRAM INCLUDES AN INTENSIVE 12-WEEK STARTUP ACCELERATOR PROGRAM PROVIDING A UNIQUE CULTURE OF SUPPORT THAT EQUIPS PEOPLE OF COLOR AND WOMEN ENTREPRENEURS WITH STRATEGIES CRITICAL TO CREATING EXCEPTIONAL COMPANIES, DRIVING JOB CREATION, AND CONTRIBUTING TO STRONG ECONOMIC GROWTH. PARTICIPANTS RECEIVE WEEKLY WORKSHOPS, ONE-ON-ONE PROFESSIONAL COACHING, NETWORKING OPPORTUNITIES, AND OTHER ESSENTIAL BUSINESS START-UP RESOURCES. APPROXIMATELY 600 PEOPLE WERE SERVED DURING THE YEAR ENDING 3/31/22.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Preston James Co-Founder/ceo | Officer | 1 | $93,198 |
Ezinne Oji Udezue Treasurer | OfficerTrustee | 1 | $0 |
Josh Jones-Dilworth Chair | OfficerTrustee | 1 | $0 |
Monique Maley Vice-Chair | OfficerTrustee | 1 | $0 |
Dana Callender Co-Founder/coo | OfficerTrustee | 1 | $0 |
Julie Oliver Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $312,568 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,983,823 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,296,391 |
| Total Program Service Revenue | $0 |
| 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 | $2,296,391 |
| 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. | $112,811 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $758,160 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $34,627 |
| Payroll taxes | $78,843 |
| Fees for services: Management | $51,607 |
| Fees for services: Legal | $1,264 |
| Fees for services: Accounting | $1,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $169,240 |
| Advertising and promotion | $12,348 |
| Office expenses | $7,474 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $12,274 |
| Travel | $21,628 |
| 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 | $3,703 |
| All other expenses | $69,669 |
| Total functional expenses | $1,962,610 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,040,350 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $184,272 |
| 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 | $13,362 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,189 |
| Total assets | $1,242,173 |
| Accounts payable and accrued expenses | $193,058 |
| 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 | $193,058 |
| 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 | $1,049,115 |
| Total liabilities and net assets/fund balances | $1,242,173 |
Grants Recieved
Over the last fiscal year, we have identified 10 grants that Divinc has recieved totaling $915,165.
| Awarding Organization | Amount |
|---|---|
Jp Morgan Chase Foundation New York, NY PURPOSE: IN SUPPORT OF UNDERSERVED SMALL BUSINESS EXPANSION | $475,000 |
Goldman Sachs Charitable Gift Fund New York, NY PURPOSE: COMMUNITY OUTREACH & ENRICHMENT PROGRAMS | $138,799 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $125,000 |
The Community Foundation Boulder, CO PURPOSE: General operating support and Colorado project | $65,500 |
Austin Community Foundation Austin, TX PURPOSE: UNRESTRICTED | $42,500 |
Vilcap Inc Houston, TX PURPOSE: FINANCIAL SUPPORT FOR EARLY-STAGE SOCIAL VENTURE COMMITTED TO PROMOTING EQUITY AND ECONOMIC WELL-BEING. | $30,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Old Spanish Trail-Almeda Corridors Redevelopment Authority Houston, TX | $78,272,041 | $12,203,610 |
Centro Public Improvement District San Antonio, TX | $1,647,971 | $6,189,889 |
Maple Avenue Economic Development Corporation Of Dallas Dallas, TX | $11,933,705 | $3,299,961 |
White River Planning & Development Dist Inc Batesville, AR | $13,868,468 | $4,307,468 |
Covenant Community Capital Corporation Houston, TX | $9,362,906 | $2,210,165 |
Metafund Corporation Edmond, OK | $30,699,805 | $2,775,325 |
Sfs Development Inc Oklahoma City, OK | $22,888,253 | $6,807,080 |
Divinc Austin, TX | $1,242,173 | $2,296,391 |
The Pyramid Community Development Corporation Houston, TX | $3,288,918 | -$1,072,522 |
Technology & Entrepreneurship Center Of Houston Inc Houston, TX | $3,649,151 | $380,691 |
Regional Community Finance Inc New Orleans, LA | $27,779,646 | $1,353,772 |
Duncan Area Economic Development Foundation Duncan, OK | $17,794,309 | $1,169,335 |