Overview
What is Launchyourcity?
Launchyourcity, operating under the name Start Co, is a nonprofit organization situated in Collierville, Tennessee. Their primary focus is on fostering entrepreneurship, particularly in the early stages, by providing support for start-ups across various business sectors. Through innovative programs, Launchyourcity assists potential entrepreneurs in refining their business models, offering mentoring, financial guidance, and opportunities to compete for investment funding. By creating a collaborative co-working environment and supplying ad hoc mentoring, Launchyourcity helps lower the financial barrier for incubation, enabling startups and businesses to stay updated on the latest trends in Memphis' dynamic innovation economy.
Official website here: www.neverstop.co
What are the reviews and ratings of this charity?
Charity Navigator Rating: 53%
Launchyourcity has received a One-Star out of Four Star rating from Charity Navigator, indicating significant concerns regarding its accountability and financial practices. The overall score is calculated based primarily on a single beacon score for Accountability & Finance, where the organization scored only 53%. This score reflects both positive aspects, such as having a fully independent board and a commendable program expense ratio of 69.55%, as well as critical weaknesses in financial transparency.
Despite the strengths in governance with 100% independent board members, the organization has notable deficiencies. Key policies related to conflict of interest, whistleblower protection, and document retention are missing, which raises concerns about operational integrity. Additionally, the lack of financial statements available for review significantly impacts the charity's transparency and accountability rating.
The liabilities to assets ratio is alarming at 196.98%, indicating potential financial instability. Furthermore, the absence of necessary documentation, such as tax forms on the nonprofit's website, suggests a need for improvement in maintaining public trust. Overall, while Launchyourcity shows some promise in its governance structure, serious financial disclosure issues warrant caution for potential donors and stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Launchyourcity legitimate?
Launchyourcity is a legitimate nonprofit organization registered as a 501(c)(3) entity. Launchyourcity 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: $293,448
Professional Fundraising Fees: $0
Other Salaries and Wages: $204,873
For more financial information, click here
Official website here: www.neverstop.co
What is the mission statement of Launchyourcity?
LaunchYourCity supports the initial stages of entrepreneurship by offering dynamic programs that aid potential innovators in Memphis to develop a business model and take the first steps towards establishing a new venture. By providing a co-working environment and ad hoc mentoring, LaunchYourCity lowers the economic barrier of entry to incubation. The organization keeps startups and businesses up-to-date with the latest trends through its innovative economy programming in Memphis. Moreover, LaunchYourCity is committed to fostering an ecosystem where meaningful jobs, livable communities, inclusive societies, and collaborative governance intersect for success.
Official website here: www.neverstop.co
Who is the CEO of Launchyourcity?
Eric Mathews is the Ceo, President, Founder of Launchyourcity. The CEO's salary of Launchyourcity is $156,417 and their total compensation is $156,417.
Official website here: www.neverstop.co
What is the revenue of Launchyourcity?
Launchyourcity's revenue in 2022 was $1,018,814.
Official website here: www.neverstop.co
Who are the executives of Launchyourcity and what are their salaries?
The average compensation at Launchyourcity during 2022 was $83,054. There are 6 employees at Launchyourcity.
Here are 9 key members and their salaries (Launchyourcity's CEO's salary is $156,417 and their total compensation is $156,417):
- Compensation: $156,417
- Related: $0
- Other: $0
- Compensation: $137,031
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.neverstop.co
Where can I find the form 990 for Launchyourcity?
Launchyourcity's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.neverstop.co
Learn more at the official website: www.neverstop.co
Mission Statement of Launchyourcity
LaunchYourCity, an organization dedicated to innovation and entrepreneurship, supports the initial stages of business development in Memphis. By offering dynamic programs, LaunchYourCity assists potential civic, social, and tech-based entrepreneurs and innovators in creating a business model and taking the first steps towards starting a new venture. The organization is a proponent of innovation-driven economic development, leveraging the region's assets to foster meaningful jobs, liveable communities, inclusive societies, and collaborative governance, all intersecting for success.
Beyond its programmatic offerings, LaunchYourCity provides a co-working environment that lowers the economic barrier of entry to incubation. The organization offers ad hoc mentoring, as well as dynamic innovation economy programming, keeping startups and businesses up-to-date on the latest trends. By supporting the earliest stages of entrepreneurship, LaunchYourCity empowers individuals to turn their ideas into actionable business plans, thereby contributing to the economic growth and vitality of the community.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
Launchyourcity has a significant impact on the innovation and entrepreneurship landscape in Memphis. By supporting the earliest stages of business development, it empowers civic, social, and tech-based entrepreneurs to translate their ideas into actionable business models. This support is critical in fostering a culture of entrepreneurship in the region, facilitating meaningful job creation and economic growth.
The organization offers dynamic programs that include mentoring, financial counseling, and opportunities to compete for investor funding, which equip entrepreneurs with the tools they need to achieve sustainability. Additionally, the provision of a co-working environment lowers the economic barriers to entry, making it easier for startups to thrive.
Launchyourcity also excels in innovation-driven economic development, connecting talent, technology, and capital to leverage the region's economic assets. This collaborative approach not only enhances the business landscape but also contributes to creating liveable communities and inclusive societies. By nurturing early-stage startups and keeping them informed about the latest trends in the innovation economy, Launchyourcity plays an essential role in driving economic vitality and enriching the community in which it operates.
This information is meant to be a general summary of Launchyourcity. 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: $189
- Program Service Revenue: $326,500
- Gross Receipts: $1,018,814
Assets and Liabilities:
- Total Assets: $200,684
- Total Liabilities: $395,315
- Net Assets: -$194,631
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ENTREPRENEUR TRAINING/
Revenue
$326,500
Organization Details
Founding Year
2008
Phone
(901) 213-7795Principal Officer
Eric Mathews
Main Address
140 S MAIN ST 3, COLLIERVILLE, TN, 38017
Website
www.neverstop.coNTEE Category
Code: S30 - Community improvement
If you are a representative of Launchyourcity and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.