1909 Foundation
- Assets
- $70.9k
- Revenue
- $463.9k
- Investments
- $0.0
- Employees
- 4
- Location
- West Palm Beach, FL
- Founding
- Data as of
- 12/2022
- EIN
- 85-2512424
Organization Overview
1909 Foundation is located in West Palm Beach, FL. According to its NTEE Classification (S40) the organization is classified as: Business & Industry, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, 1909 Foundation employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. 1909 Foundation 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, 1909 Foundation generated $463.9k 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 (5.5%) each year. All expenses for the organization totaled $482.8k during the year ending 12/2022. 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
TO SUPPORT THE HOLISTIC DEVELOPMENT OF CREATORS TO FOSTER MINDFUL INNOVATION AND UPLIFT OUR COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INCUBATOR SPACE: 1909 PROVIDES AFFORDABLE SHARED WORKSPACE DESIGNED TO SUPPORT FOUNDERS IN THEIR DAY TO JOURNERY OF ENTREPRENEURSHIP. THE SPACE PROVIDES HIGH SPEED WIFI, PRINTING, CONFERENCE ROOMS, BRAINSTORM AREAS AND A COMMUNITY OF OTHER FOUNDERS TO PROVIDE SUPPORT. WE SUPPORT OVER 230 MEMBERS IN OUR INCUBATOR SPACE .
ACCELERATOR PROGRAM: 6 MONTH, APPLICATION-BASED BUSINESS ACCELERATOR AND MENTORSHIP PROGRAM DESIGNED TO HELP FOUNDERS DEVELOP THEIR IDEAS INTO SUCCESSFUL BUSINESSES. WE SUPPORTED 16 NEW ENTREPRENEURS WITH THE DEVELOPMENT AND LAUNCH OF THEIR BUSINESSES. WE OFFER BUSINESS COURSES TO HELP FOUNDERS TURN THEIR IDEAS INTO REAL BUSINESSES. OUR PROGRAMS ARE BASED ON COLLABORATIVE LEARNING, WHICH IS THE EDUCATIONAL APPROACH OF USING GROUPS TO ENHANCE LEARNING THROUGH WORKING TOGETHER. THIS STYLE OF LEARNING IS PROVEN TO HELP PARTICIPANTS DEVELOP SOCIAL SKILLS, LEARN FROM PEERS WITH DIFFERENT SKILLS, BUILD TRUST, BECOME MORE ENGAGED, AND BUILD CONFIDENCE AND LEADERSHIP SKILLS.
EVENTS & PROGRAMMING: 1909 OFFERS YEAR ROUND EVENTS FOR OUR MEMBERS AND THE GREATER COMMUNITY. THESE EVENTS INCLUDED MASTERMIND GROUP GATHERINGS, INDUSTRY SPECIFIC MEET-UPS AND TRAINING, PERSONAL DEVELOPMENT AND CONNECTION EVENTS, MENTORSHIP GATHERINGS, COLLEGE STUDENT INTROS, AND NETWORKING OPPORTUNTIES. WE HOSTED APPROXIMATELY 130 EVENTS IN 2022 FOR THE COMMUNITY OF FOUNDERS WE SERVE. WE ALSO HOSTED OUR GALA TO RECOGNIZE OUR FOUNDERS AND RAISE FUNDS TO SUPPORT OUR PROGRAMMING EFFORTS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nicholas Mohnacky Board Chairman | Trustee | 1 | $0 |
Brandon Carson Vice Chair | Trustee | 1 | $0 |
Patrick Stinus Board Treasurer | Trustee | 1 | $0 |
January Reissman Board Member | Trustee | 1 | $0 |
William Shepherd Board Member-Governance Ch | Trustee | 1 | $0 |
Ryan Poole Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $300,590 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $35,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $53,211 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $388,801 |
| Total Program Service Revenue | $25,082 |
| 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 | $50,065 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $463,948 |
| 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. | $61,666 |
| Compensation of current officers, directors, key employees. | $9,250 |
| Compensation to disqualified persons | $89,620 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $6,240 |
| Payroll taxes | $12,186 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,424 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $400 |
| Advertising and promotion | $1,990 |
| Office expenses | $10,855 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $193,649 |
| Travel | $21,073 |
| 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 | $1,263 |
| Insurance | $2,413 |
| All other expenses | $20,548 |
| Total functional expenses | $482,835 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $42,745 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,238 |
| 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 | $6,528 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $20,403 |
| Total assets | $70,914 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $47,864 |
| Net assets with donor restrictions | $23,050 |
| 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 | $70,914 |