Springboard Incubators Inc
- Assets
- $199.9k
- Revenue
- $253.4k
- Investments
- $0.0
- Employees
- 21
- Location
- Garden City, NY
- Founding
- 01/2017
- Data as of
- 08/2023
- EIN
- 81-4200249
Organization Overview
Springboard Incubators Inc is located in Garden City, NY. The organization was established in 2017. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 08/2023, Springboard Incubators Inc employed 21 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Springboard Incubators 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 08/2023, Springboard Incubators Inc generated $253.4k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 62.6% each year . All expenses for the organization totaled $273.0k during the year ending 08/2023. While expenses have increased by 21.1% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
SPRINGBOARD'S MAIN MISSION IS TO BRIDGE THE DIGITAL DIVIDE, BUT MORE IMPORTANTLY THE KNOWLEDGE DIVIDE IN TECHNOLOGY FOR OUR REGION THROUGH EDUCATIONAL PROGRAMS AND WORKSHOPS. OUR FOCUS IS TO PREPARE INDIVIDUALS INTERESTED IN PURSUING CAREERS IN COMPUTER SCIENCE AND TECHNOLOGY BY PUTTING THEM THROUGH COURSES IN OUR WORKSHOPS AND LIFE ENRICHMENT PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SPRINGBOARD INNOVATION HUB PROVIDES VIRTUAL OFFICE SPACES, HIGH-SPEED INTERNET ACCESS, PRIVATE MEETING ROOMS, DESKS SPACE, COLLABORATIVE AREAS, AND LARGE CO-MEETING ROOMS. WE PROVIDE MENTORING FOR STARTUPS, BUSINESS DEVELOPMENT WORKSHOPS, AND ACCESS TO A WIDE NETWORK OF SUPPORT SERVICES. OUR STARTUP AND TENANTS CAN EXPECT THE CONSTANT DISSEMINATION OF RELEVANT INFORMATION PROVIDING GUIDANCE AND INSIGHTS FOR MARKETING AND GROWING THEIR BUSINESS. SCHOOLS AND UNIVERSITIES CAN ALSO BENEFIT FROM SPRINGBOARD'S MANY WORKSHOPS GEARED TO UNDERSTANDING HOW TECHNOLOGY CAN BE HARNESSED AND USED AS A VEHICLE TO DRIVE A SUCCESSFUL BUSINESS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steven Lindo President/ceo | OfficerTrustee | 40 | $0 |
Merton A Owens Vice President/treasurer | OfficerTrustee | 15 | $0 |
Janice Lindo Secretary | OfficerTrustee | 15 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $50,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $20,353 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $70,353 |
| Total Program Service Revenue | $183,077 |
| 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 | $253,430 |
| 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. | $6,694 |
| Compensation of current officers, directors, key employees. | $1,004 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $141,196 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $15,537 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $5,340 |
| Advertising and promotion | $9,750 |
| Office expenses | $12,437 |
| Information technology | $1,498 |
| Royalties | $0 |
| Occupancy | $50,605 |
| Travel | $167 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $8,845 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,215 |
| Insurance | $1,902 |
| All other expenses | $1,831 |
| Total functional expenses | $272,964 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $74,659 |
| 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 | $5,464 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $119,767 |
| Total assets | $199,890 |
| Accounts payable and accrued expenses | $7,723 |
| 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 | $205,600 |
| Other liabilities | $112,319 |
| Total liabilities | $325,642 |
| Net assets without donor restrictions | -$145,191 |
| Net assets with donor restrictions | $19,439 |
| 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 | $199,890 |