Cleveland Culinary Launch Inc
- Assets
- $238.4k
- Revenue
- $447.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Cleveland, OH
- Founding
- 05/2018
- Data as of
- 12/2022
- EIN
- 82-2813628
Organization Overview
Cleveland Culinary Launch Inc, operating under the name Central Kitchen Incubator, is located in Cleveland, OH. The organization was established in 2018. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Central Kitchen Incubator 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 12/2022, Central Kitchen Incubator generated $447.5k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 17.4% each year . All expenses for the organization totaled $526.2k during the year ending 12/2022. While expenses have increased by 19.0% per year over the past 4 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
CLEVELAND CULINARY KITCHEN EXISTS TO PROVIDE CRAFT FOOD ENTREPRENEURS EDUCATION, LICENSING AND FACILITIES THAT ASSURE SUCCESS FROM START-UP THROUGH SCALE-UP IN ORDER TO CREATE SUSTAINABLE BUSINESSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OUR ENTREPRENEURS DON'T JUST START BUSINESSES. THEY SPARK GROWTH FOR THEIR PRODUCT CATEGORY, OUR COMMUNITY AND, MOST IMPORTANTLY, OTHER PEOPLE. YOUR SUPPORT DRIVES THESE CRITICAL OUTCOMES FORWARD. 700+ PRODUCTS CREATED OUT OF OUR KITCHEN TO DATE 5.5 MILLION HAS BEEN INVESTED TO DATE IN FACILITIES TO HELP FOOD ENTREPRENEURS: - 1000+ JOBS CREATED TO DATE - 65% OF OUR CLIENTS ARE MINORITIES OR WOMEN - 800+ CLIENTS HAVE TAKEN OUR INCUBATOR COURSE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eric Diamond CEO And Chai | OfficerTrustee | 3 | $0 |
Claude Booker Director | Trustee | 3 | $0 |
Whitney Cornuke Director | Trustee | 3 | $0 |
Judson Cummins Director | Trustee | 3 | $0 |
Kim Heinen Director | Trustee | 3 | $0 |
Joe Stanziano Director | Trustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $21,746 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $89,300 |
| All other contributions, gifts, grants, and similar amounts not included above | $169,082 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $280,128 |
| Total Program Service Revenue | $167,135 |
| Investment income | $6 |
| 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 | $447,538 |
| 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 | $121,812 |
| Fees for services: Legal | $2,984 |
| Fees for services: Accounting | $15,105 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $88,209 |
| Advertising and promotion | $29,776 |
| Office expenses | $6,556 |
| Information technology | $3,213 |
| Royalties | $0 |
| Occupancy | $138,261 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $5,540 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $39,427 |
| Insurance | $1,280 |
| All other expenses | $733 |
| Total functional expenses | $526,239 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | -$5,760 |
| Savings and temporary cash investments | $61,488 |
| Pledges and grants receivable | $100,641 |
| Accounts receivable, net | $23,351 |
| 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 | $8,000 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $50,667 |
| Total assets | $238,387 |
| Accounts payable and accrued expenses | $218,600 |
| Grants payable | $0 |
| Deferred revenue | $4,000 |
| 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 | $154,690 |
| Unsecured mortgages and notes payable | $74,501 |
| Other liabilities | $20,575 |
| Total liabilities | $472,366 |
| Net assets without donor restrictions | -$292,366 |
| Net assets with donor restrictions | $58,387 |
| 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 | $238,387 |