Overview
What is Nextcorps Inc?
Nextcorps Inc, based in Rochester, New York, is a nonprofit organization dedicated to stimulating growth in the Greater Rochester technology sector. They facilitate the identification, development, and incubation of new business opportunities, particularly in the clean energy sector. Their initiatives include operating a high-tech incubator, helping startups scale their prototypes, and conducting related workshops. Nextcorps functions as a catalyst for entrepreneurship and innovation-driven economic development, applying business expertise and network connections to aid in the formation and profitable growth of companies in the region.
Official website here: www.nextcorps.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Star rating)
Nextcorps Inc has received an impressive Four-Star rating from Charity Navigator, reflecting its strong performance in accountability and finance. The organization excels in several key areas, including having a majority of independent board members and robust financial oversight. Additionally, there are no reported issues regarding the diversion of assets, highlighting the organization's commitment to financial integrity.
The nonprofit boasts a high program expense ratio of 93.81%, indicating that a significant portion of its funding is directed toward its programs rather than administrative costs. This focus on programmatic spending demonstrates Nextcorps' dedication to achieving its mission effectively and efficiently. Furthermore, the presence of comprehensive policies, including conflict of interest and whistleblower protections, enhances its operational transparency.
While Nextcorps Inc shows strong financial and operational practices, potential donors and supporters should remain aware of the importance of evaluating program impact and outcomes alongside financial metrics. Overall, the organization's high rating serves as a testament to its accountability and commitment to serving its community effectively.
This AI summary has been generated from information found on Charity Navigator.
Is Nextcorps Inc legitimate?
Nextcorps Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Nextcorps Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $2,598,146
For more financial information, click here
Official website here: www.nextcorps.org
What is the mission statement of Nextcorps Inc?
Nextcorps Inc functions as a catalyst for entrepreneurship and innovation-driven economic development. They utilize business expertise and network connections to foster the formation and profitable growth of companies. Through active facilitation, they identify and develop new business opportunities within the technology sector. This includes operating a high-tech incubator and a program that helps startups in the "clean energy" sector refine their prototype product for mass production. Additionally, they conduct related workshops to engage and support entrepreneurs and emerging companies.
Official website here: www.nextcorps.org
Who is the CEO of Nextcorps Inc?
James S Senall is the Director - Thru Nov 2021 of Nextcorps Inc.
Official website here: www.nextcorps.org
What is the revenue of Nextcorps Inc?
Nextcorps Inc's revenue in 2022 was $13,022,284.
Official website here: www.nextcorps.org
Who are the executives of Nextcorps Inc and what are their salaries?
There 24 volunteers at Nextcorps Inc.
Here are 20 key members and their salaries:
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- Other: $173,624
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Official website here: www.nextcorps.org
Where can I find the form 990 for Nextcorps Inc?
Nextcorps Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.nextcorps.org
Learn more at the official website: www.nextcorps.org
Mission Statement of Nextcorps Inc
Nextcorps Inc, a catalyst for entrepreneurship and innovation-driven economic development, utilizes business expertise and network connections to foster the formation and profitable growth of companies in the greater Rochester and Finger Lakes region. The organization's mission is geared towards stimulating the growth of the technology-based business sector by actively facilitating the identification, development, and incubation of new business opportunities.
To accomplish this, Nextcorps Inc operates a high-technology incubator that helps startup companies, particularly those in the "clean energy" sector, develop a comprehensive roadmap for scaling their prototype product into a design that is easy to manufacture and mass-produce in New York State. The incubator provides these emerging companies with the necessary resources and support to transform their ideas into thriving businesses.
In addition to its incubator program, Nextcorps Inc engages over 200 entrepreneurs and emerging companies through related workshops. These events offer valuable insights, learning opportunities, and networking possibilities, enabling participants to expand their knowledge, skills, and connections in the business world. By applying business expertise and fostering a supportive community, Nextcorps Inc plays a vital role in nurturing the entrepreneurial spirit and driving economic growth within the greater Rochester and Finger Lakes region.
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Impact
October, 2024
Nextcorps Inc has emerged as a crucial driver of entrepreneurship and innovation-based economic development in the Greater Rochester and Finger Lakes region. By leveraging business expertise and extensive network connections, the organization plays a pivotal role in fostering the formation and profitable growth of new companies.
A core component of Nextcorps Inc's impact lies in its operation of a high-technology incubator, which actively nurtures startups, particularly in the clean energy sector. This initiative provides emerging companies with a structured approach to scaling their prototype products into manufacturable designs that can achieve mass production within New York State. Through tailored guidance and support, Nextcorps Inc helps entrepreneurs navigate the complexities of turning innovative ideas into successful business ventures.
Additionally, the organization facilitates workshops and programs that have engaged over 200 entrepreneurs and emerging businesses in just one year. These activities not only enhance the skill sets of participants but also stimulate collaboration and networking within the local tech community. By promoting innovation and equipping startups with the tools they need to succeed, Nextcorps Inc significantly contributes to the growth of the technology-based business sector in the region, ultimately driving economic prosperity and job creation.
This information is meant to be a general summary of Nextcorps Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $4,182
- Program Service Revenue: $3,866,497
- Gross Receipts: $13,022,284
Assets and Liabilities:
- Total Assets: $34,895,664
- Total Liabilities: $6,560,164
- Net Assets: $28,335,500
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROJECT INCOME
Revenue
$3,341,424
INCUBATOR RENT
Revenue
$339,093
MISCELLANEOUS RENT
Revenue
$123,776
SEMINAR INCOME
Revenue
$32,500
OTHER INCOME
Revenue
$29,704
Organization Details
Founding Year
1987
Phone
(585) 214-2400Principal Officer
James S Senall
Main Address
260 E MAIN STREET 6000, ROCHESTER, NY, 14604
Website
www.nextcorps.orgNTEE Category
Code: V200 - Social research
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