Waco Entrepreneurial Ecosystem Collaborative Inc
- Assets
- $706.2k
- Revenue
- $490.3k
- Investments
- $0.0
- Employees
- 7
- Location
- Waco, TX
- Founding
- 04/2019
- Data as of
- 12/2021
- EIN
- 82-2094253
Organization Overview
Waco Entrepreneurial Ecosystem Collaborative Inc, operating under the name Start Up Waco, is located in Waco, TX. The organization was established in 2019. 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, Start Up Waco employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Start Up Waco 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, Start Up Waco generated $490.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (9.9%) each year.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
START UP WACO IS A TEXAS NONPROFIT ORGANIZATION FORMED VIA COLLABORATION OF CROSS-SECTOR PARTNERSHIPS THAT ASPIRE TO LEAD WACO'S ENTREPRENEURIAL SUPPORT EFFORTS AND ELEVATE WACO AS A HUB FOR BUSINESS INNOVATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION'S GOAL IS TO ENGAGE THE WACO COMMUNITY TO EMBRACE A CULTURE OF INNOVATION, ENTREPRENEURSHIP AND NEW THINKING BY EMPOWERING ENTREPRENEURS AND INNOVATORS TO BUILD AND GROW SUCCESSFUL BUSINESSES. TO ACHIEVE THIS GOAL, THE ORGANIZATION OPERATES A COWORKING ACCELERATOR SPACE CALLED HUSTLE WHICH PROVIDES AMENITIES, PROGRAMMING AND RESOURCES TO FOSTER STARTUP GROWTH. BY CONNECTING THE DOTS BETWEEN VALUABLE RESOURCES AND BUDDING INNOVATORS AND ENTREPRENEURS, START UP WACO AIMS TO TRANSFORM OUR CITY INTO A PLACE WHERE ALL WHO STRIVE CAN SUCCEED.
KIVA IS A MICROLOAN PROGRAM INITIALLY FUNDED WITH A GRANT FROM THE CITY OF WACO. THE ORGANIZATION MAKES SMALL LOANS THROUGHT THE KIVA PLATFORM TO ASSIST SMALL START UP BUSINESSES TO GET STARTED. THE REPAYMENS OF THE LOANS REMAIN IN THE KIVA PLATFORM TO BE RELENT TO OTHER NEW BUSINESSES.
INCUBATEX254 IS A 6 WEEK SMALL BUSINESS ACCELERATOR PROGRAM WHICH PROVIDES EDUCATIONAL TRAINING AND DEVELOPMENT FOR ENTREPRENEURS. APPLICANTS ARE CHOSEN BASED ON DEMOGRAPHICS AND BUSINESS SECTOR.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jon Passavant CEO | 40 | $116,232 | |
Andrea Barefield Secretary | OfficerTrustee | 1 | $0 |
Ashley Allison Board Chair | OfficerTrustee | 1 | $0 |
Kris Collins Director | OfficerTrustee | 1 | $0 |
Jeremy Vickers Treasurer | OfficerTrustee | 1 | $0 |
Mark Reynolds Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $47,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $287,979 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $334,979 |
| Total Program Service Revenue | $149,858 |
| 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 | $490,257 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $75 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $116,231 |
| Compensation of current officers, directors, key employees. | $52,304 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $67,534 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $16,798 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,701 |
| Fees for services: Accounting | $3,987 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $31,897 |
| Advertising and promotion | $1,170 |
| Office expenses | $8,467 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $79,221 |
| Travel | $58 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,560 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $22,519 |
| Insurance | $3,648 |
| All other expenses | $46,796 |
| Total functional expenses | $533,830 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,031 |
| 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 | $13,500 |
| Net Land, buildings, and equipment | $691,693 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $706,224 |
| Accounts payable and accrued expenses | $0 |
| 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 | $10,000 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $103,100 |
| Other liabilities | $1,851 |
| Total liabilities | $114,951 |
| 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 | $591,273 |
| Total liabilities and net assets/fund balances | $706,224 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Waco Entrepreneurial Ecosystem Collaborative Inc has recieved totaling $265,000.
| Awarding Organization | Amount |
|---|---|
Waco Foundation Waco, TX PURPOSE: OPERATING SUPPORT | $200,000 |
Baylor University Waco, TX PURPOSE: Grant to Support Non-Profit Organization Activites | $50,000 |
Austin Community Foundation Austin, TX PURPOSE: UNRESTRICTED | $15,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Central Arkansas Development Council Benton, AR | $22,711,775 | $63,852,394 |
Manned Space Flight Education Foundation Incorporated Houston, TX | $76,743,192 | $45,013,359 |
New Orleans & Company New Orleans, LA | $100,855,624 | $31,406,983 |
Mississippi County Arkansas Economic Opportunity Commission In Blytheville, AR | $4,387,153 | $19,452,667 |
Saisd Historic Preservation Corporation San Antonio, TX | $3,795,273 | $2,962,141 |
Central Oklahoma Workforce Investment Board Inc Oklahoma City, OK | $3,420,947 | $10,316,235 |
Whole Planet Foundation Austin, TX | $10,584,602 | $6,202,281 |
Frazier Revitalization Inc Dallas, TX | $12,774,298 | $14,569,658 |
Corpus Christi Area Convention And Tourist Bureau Inc Corpus Christi, TX | $2,305,137 | $5,577,829 |
Edinburg Economic Development Corporation Edinburg, TX | $67,135,031 | $9,281,578 |
Market Lubbock Economic Development Corporation Lubbock, TX | $8,726,484 | $8,303,064 |
Lubbock Economic Development Alliance Inc Lubbock, TX | $29,508,777 | $13,680,218 |