The Thinkubator Inc
- Assets
- $649.7k
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 8
- Location
- Bronx, NY
- Founding
- Data as of
- 06/2021
- EIN
- 85-1875592
Organization Overview
The Thinkubator Inc, operating under the name The Thinkubator, is located in Bronx, NY. According to its NTEE Classification (J22) the organization is classified as: Job Training, under the broad grouping of Employment and related organizations. As of 06/2021, Thinkubator employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Thinkubator is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE THINKUBATOR IS A BRONX-BASED INNOVATION AND WORKFORCE DEVELOPMENT ORGANIZATION. WE BRING POWER TO YOUTH VOICES THROUGH INTERNSHIPS, CONSULTANCY, WORK-BASED LEARNING EXPERIENCES, JOBS, ACADEMIC ADVISING, MENTAL HEALTH AND WELLNESS AND CAREER COUNSELING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE THINKUBATOR IS A BRONX-BASED INNOVATION AND WORKFORCE DEVELOPMENT ORGANIZATION. WE BRING POWER TO YOUTH VOICES THROUGH INTERNSHIPS, CONSULTANCY, WORK-BASED LEARNING EXPERIENCES, JOBS, ACADEMIC ADVISING, MENTAL HEALTH AND WELLNESS AND CAREER COUNSELING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Edward Summers CEO | OfficerTrustee | 40 | $130,000 |
Monica Major Board Member | Trustee | 1 | $0 |
Talika Summers Board Member | Trustee | 1 | $0 |
Marlene Cintron Board Member | Trustee | 1 | $0 |
Carina Hayek Board Member | Trustee | 1 | $0 |
Amina Yamusah Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,149,525 |
| 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 | $1,304,275 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $85,440 |
| 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 to disqualified persons | $0 |
| Other salaries and wages | $289,757 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $29,741 |
| Payroll taxes | $67,204 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,558 |
| 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 | $25,193 |
| Advertising and promotion | $5,518 |
| Office expenses | $647 |
| Information technology | $6,006 |
| Royalties | $0 |
| Occupancy | $37,049 |
| Travel | $5,422 |
| 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 | $7,857 |
| All other expenses | $0 |
| Total functional expenses | $640,823 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $280,545 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $369,186 |
| 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 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $649,731 |
| 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 | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | -$13,721 |
| Total liabilities | -$13,721 |
| 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 |
| Total liabilities and net assets/fund balances | $663,452 |