Economic Growth Business Incubator
- Assets
- $464.7k
- Revenue
- $551.8k
- Investments
- $0.0
- Employees
- 10
- Location
- Austin, TX
- Founding
- 06/2004
- Data as of
- 12/2023
- EIN
- 90-0128899
Organization Overview
Economic Growth Business Incubator is located in Austin, TX. The organization was established in 2004. According to its NTEE Classification (B60) the organization is classified as: Adult Education, under the broad grouping of Education and related organizations. As of 12/2023, Economic Growth Business Incubator employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Economic Growth Business 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 12/2023, Economic Growth Business Incubator generated $551.8k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 4.9% each year. All expenses for the organization totaled $468.4k during the year ending 12/2023. While expenses have increased by 2.3% per year over the past 5 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
EGBI PROVIDES TRAINING, COACHING, AND SUPPORT TO ASPIRING AND EXISTING BUSINESS OWNERS WHO FACE BARRIERS TO GROWING A SUCCESSFUL BUSINESS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TRAINING - EGBI PROVIDES EDUCATION AND TRAINING IN ENTREPRENEURSHIP AND FINANCIAL LITERACY.
INCUBATOR - EGBI PROVIDES AN INCUBATION SETTING TO INDIVIDUALS WHO ARE STARTING OR GROWING THEIR BUSINESSES.
BACK OFFICE SERVICES - EGBI PROVIDES BOOKKEEPING SERVICES TO HELP EDUCATE CLIENTS ON THEIR BUSINESSS FINANCIAL POSITION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mike Lancaster Board Chair | OfficerTrustee | 1 | $0 |
Elsa Reyes Chair Elect | OfficerTrustee | 1 | $0 |
Manny Campos Treasurer | OfficerTrustee | 1 | $0 |
Michael Cummings Secretary | OfficerTrustee | 1 | $0 |
Robert Shipman Immediate Past Board Chair | Trustee | 1 | $0 |
Luis Delgado Board Member | 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 | $336,118 |
| Noncash contributions included in lines 1a–1f | $1,577 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $336,118 |
| Total Program Service Revenue | $192,109 |
| Investment income | $1,921 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,675 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $18,973 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $551,796 |
| 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. | $63,152 |
| Compensation of current officers, directors, key employees. | $5,695 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $223,577 |
| Pension plan accruals and contributions | $6,428 |
| Other employee benefits | $38,186 |
| Payroll taxes | $23,664 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,722 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $24,330 |
| Advertising and promotion | $5,661 |
| Office expenses | $31,044 |
| Information technology | $15,093 |
| Royalties | $0 |
| Occupancy | $9,600 |
| Travel | $693 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $12,943 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,324 |
| Insurance | $4,936 |
| All other expenses | $0 |
| Total functional expenses | $468,353 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $216,195 |
| Savings and temporary cash investments | $79,610 |
| Pledges and grants receivable | $132,500 |
| Accounts receivable, net | $32,787 |
| 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 | $1,284 |
| Net Land, buildings, and equipment | $2,290 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $464,666 |
| Accounts payable and accrued expenses | $7,184 |
| 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 | $7,184 |
| Net assets without donor restrictions | $278,082 |
| Net assets with donor restrictions | $179,400 |
| 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 | $464,666 |