Colab Inc
- Assets
- $4.4k
- Revenue
- $132.0k
- Investments
- $0.0
- Employees
- 1
- Location
- Garden City, ID
- Founding
- Data as of
- 12/2021
- EIN
- 84-2571970
Organization Overview
Colab Inc is located in Garden City, ID. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Colab 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 12/2021, Colab Inc generated $132.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (39.2%) each year. All expenses for the organization totaled $129.7k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (39.9%) per year over the past 2 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO FOSTER THE SPIRIT OF ENTREPRENEURSHIP A ND PROVIDE MEMTORSHIP THROUGH PITCH COMETITIONS AND START UP FUNDING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO FOSTER THE SPIRIT OF ENTREPRENEURISHIP AND PROVIDE MENTORSHIP THROUGH PITCH COMPETITIONS AND START UP FUNDING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lia Griffith Director | Trustee | 1 | $0 |
Heather Hamilton Director | Trustee | 1 | $0 |
Allen Taylor Director | Trustee | 1 | $0 |
Parkash Pilley Director | Trustee | 1 | $0 |
Julian Waddell Director | Trustee | 1 | $0 |
Kevin Welch 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 | $132,007 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $132,007 |
| 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 | $132,007 |
| 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 | $10,267 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $4,862 |
| Payroll taxes | $1,268 |
| 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 | $25,100 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $7,391 |
| 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 | $159 |
| All other expenses | $119 |
| Total functional expenses | $129,733 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,363 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,363 |
| Accounts payable and accrued expenses | $5,003 |
| 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 | -$638 |
| Total liabilities | $4,365 |
| Net assets without donor restrictions | -$2 |
| 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 | $4,363 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Colab Inc has recieved totaling $357,320.
| Awarding Organization | Amount |
|---|---|
Community Development Inc Garden City, ID | | $327,320 |
Five Loaves Foundation Inc Garden City, ID | | $30,000 |
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|---|---|---|
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Washington Stem Center Seattle, WA | $144,962,083 | $51,456,581 |
Club For The Future Kent, WA | $9,001,115 | $28,277,868 |
Wgu Labs Salt Lake City, UT | $5,412,542 | $17,199,300 |
Oregon State University Bookstore Inc Corvallis, OR | $21,771,941 | $7,845,956 |
Medina Foundation Seattle, WA | $101,561,812 | $2,836,899 |
Rainier Scholars Seattle, WA | $11,460,541 | $8,396,083 |
Bountiful Community Food Pantry Bountiful, UT | $1,761,545 | $4,446,864 |
Salmon Public School Foundation Inc Salmon, ID | $1,849,221 | $774,057 |
Morrison-Maierie Inc Group Health Plan Tr Helena, MT | $2,319,499 | $3,680,881 |
Opportunity 180 Las Vegas, NV | $5,469,584 | $10,324 |