William M Factory Small Business Incubator

Organization Overview

William M Factory Small Business Incubator is located in Tacoma, WA. The organization was established in 1996. According to its NTEE Classification (S31) the organization is classified as: Urban & Community 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. William M Factory Small 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 06/2022, William M Factory Small Business Incubator generated $162.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (16.1%) each year. All expenses for the organization totaled $256.9k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (15.4%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

THE INCUBATOR PROMOTES COMMUNITY REVITALIZATION THROUGH THE STARTUP AND EXPANSION OF SMALL BUSINESS ENTERPRISES, PARTICULARLY FOR UNDERREPRESENTED ENTREPRENEURS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

DURING THE MOST RECENT FISCAL YEAR, THE INCUBATOR ASSISTED OVER 300 ENTREPRENEURS WITH WORKSHOPS ON BUSINESS TOPICS INCLUDING FINANCE, MARKETING, TECHNOLOGY AND INDUSTRY NETWORKING. THE INCUBATOR ALSO ENROLLED OVER 100 ENTREPRENEURS FOR ONE-ON-ONE COUNSELING ON THEIR EMERGING ENTERPRISES AND PROVIDED MENTORS, FACULTY REFERRALS AND OTHER BUSINESS RESOURCES. THE INCUBATOR AND TACOMA COMMUNITY COLLEGE SPONSORED AN IDEA & PITCH COMPETITION THAT ATTRACTED 20 APPLICANTS THAT RECEIVED TRAINING ON PRESENTATION SKILLS AND PREPARATION FOR VENTURE INVESTMENTS.


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Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $128,721
All other contributions, gifts, grants, and similar amounts not included above$33,532
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$162,253
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 $162,253

Grants Recieved

Over the last fiscal year, we have identified 3 grants that William M Factory Small Business Incubator has recieved totaling $65,005.

Awarding OrganizationAmount
$45,000
The Seattle Foundation

Seattle, WA

PURPOSE: TO PROVIDE GENERAL SUPPORT

$20,000
Amazonsmile Foundation

Seattle, WA

PURPOSE: GENERAL SUPPORT

$5
View Grant Recipient Profile

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