Overview
What is Colab?
Colab, headquartered in Chattanooga, Tennessee, is a nonprofit organization that supports the growth and success of tech-focused startups in the greater Chattanooga area. Their primary mission is to boost startup viability by connecting entrepreneurs with necessary expertise, resources, and community connections. Through their mentorship-based program, GIGTANK 365, they target tech-enabled startups, focusing on the needs of founders and their companies. Colab's ultimate goal is to foster an innovative, inclusive, and thriving Chattanooga, recognizing the vital role entrepreneurship plays in this vision. With a team of 13 dedicated individuals, Colab empowers startups from launch to scale, contributing to the region's ongoing development.
Official website here: www.colab.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96%, Four-Star out of Four Star Rating.
Colab has achieved a high rating of 96% from Charity Navigator, indicating strong accountability and financial health. This rating is based solely on factors related to accountability and finance, reflecting the organization's commitment to transparency and effective management of resources. The perfect score in measures such as the independence of board members and the presence of essential policies underscores Colab's dedication to high ethical standards.
The organization boasts an entirely independent board with 14 members, demonstrating a robust governance structure. Colab has also received full marks for its financial statements, including an audit, and shows no signs of material asset diversion. With a program expense ratio of 74.56%, the majority of its funds are directed towards its programs, highlighting a focus on its mission.
While the data reflects strong practices in governance and finance, potential donors and stakeholders should consider the broader impact of the organization's programs, as the rating itself does not provide insights into program effectiveness or community feedback. Overall, Colab is positioned as a trustworthy nonprofit committed to maintaining high standards in accountability and performance.
This AI summary has been generated from information found on Charity Navigator.
Is Colab legitimate?
Colab is a legitimate nonprofit organization registered as a 501(c)(3) entity. Colab 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: $83,933
Professional Fundraising Fees: $0
Other Salaries and Wages: $418,737
For more financial information, click here
Official website here: www.colab.com
What is the mission statement of Colab?
Colab's mission is centered around boosting the success of startups in various sectors. They achieve this by connecting entrepreneurs with the necessary expertise, resources, and community support. Colab is committed to accelerating startups from their inception to growth, envisioning a thriving and innovative business ecosystem. They firmly believe that entrepreneurship plays a crucial role in this vision and strive to empower entrepreneurs daily. As part of their initiatives, Colab offers a mentorship-based program called GigTank 365, specifically designed for tech-driven startups, focusing on addressing the unique needs of founders and their companies.
Official website here: www.colab.com
Who is the CEO of Colab?
Tasia Malakasis is the Executive Director As Of 04/12/2021 of Colab.
Official website here: www.colab.com
What is the revenue of Colab?
Colab's revenue in 2021 was $650,371.
Official website here: www.colab.com
Who are the executives of Colab and what are their salaries?
The average compensation at Colab during 2021 was $38,667. There are 13 employees and 60 volunteers at Colab.
Here are 20 key members and their salaries:
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Official website here: www.colab.com
Where can I find the form 990 for Colab?
Colab's most recent form 990 was submitted in 2021 and can be accessed here.
Official website here: www.colab.com
Learn more at the official website: www.colab.com
Mission Statement of Colab
Colab, as an organization, is committed to enhancing the viability of startups in its surrounding region. Its mission is to connect entrepreneurs with the necessary expertise, resources, and community support. Colab envisions a dynamic, inclusive, and thriving environment in this region, believing that entrepreneurship plays a crucial role in achieving this vision. The organization's primary goal is to empower entrepreneurs daily, supporting their companies from inception to scale.
As part of its mission, Colab operates a mentorship-based program called GigTank 365. This program is specifically designed for software and technology-driven companies in the region. The stage-gate mentoring program focuses on addressing the needs of tech-enabled startups, providing targeted support to founders. Colab's activities are driven by its commitment to accelerating startups and fostering a vibrant entrepreneurial ecosystem in the region.
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Impact
July, 2024
Colab's impact can be seen in the increased viability of startups in Chattanooga and the surrounding region. By connecting entrepreneurs with expertise, resources, and a supportive community, Colab plays a crucial role in helping startups thrive. The GIGTANK 365 program, a mentorship-based initiative designed for software and technology-backed companies, provides essential guidance and support for tech-enabled startups in the Chattanooga area. Through their stage-gate mentoring program, Colab targets founder and company needs, ensuring that startups have the necessary tools to succeed.
Overall, Colab is dedicated to accelerating startups in the greater Chattanooga region, supporting companies from their initial launch to scaling up. Their vision of an innovative, inclusive, and thriving Chattanooga is supported by their belief that entrepreneurship is key to achieving this goal. By empowering startups on a daily basis, Colab is actively contributing to the growth and success of the local entrepreneurial ecosystem.
This information is meant to be a general summary of Colab. 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 2021.
- Program Service Revenue: $200
- Gross Receipts: $650,371
Assets and Liabilities:
- Total Assets: $605,928
- Total Liabilities: $23,735
- Net Assets: $582,193
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM FEES
Revenue
$200
Organization Details
Founding Year
2008
Phone
(423) 648-2195Principal Officer
Tasia Malakasis
Main Address
1100 MARKET STREET 100, CHATTANOOGA, TN, 37402
Website
www.colab.comNTEE Category
Code: A20 - Arts
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