Overview
What is Bowie Business Innovation Center Inc?
Bowie Business Innovation Center Inc, situated in Bowie, Maryland, serves as a catalyst for technological companies and government contractors in the city and Prince George's County. This nonprofit organization, headquartered at Bowie State University, offers mentoring, technical assistance, counseling, and connections to partners and capital, aiming to accelerate business growth. As the only business accelerator at a Historically Black College and University (HBCU) in Maryland, Bowie BIC played a significant role in job creation, revenue generation, and internship opportunities in 2022. The organization also supported county entrepreneurs through on-site training and counseling programs. In collaboration with the U.S. Small Business Administration and with funding support from Capital One, Bowie BIC's 8(a) Accelerator program helped minority businesses secure federal government contracts. Acting as a key educational resource and driver of entrepreneurship in Bowie and Prince George's County, Bowie BIC fosters company growth, innovation, and job generation through its coordinated program of business counseling, mentoring, networking, and access to facilities and meeting spaces.
Official website here: www.bowiebic.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% (Three-Star out of Four Star rating)
Bowie Business Innovation Center Inc has received an 81% rating from Charity Navigator, indicating a solid performance in accountability and finance. The organization boasts a fully independent board, ensuring oversight and governance are maintained without conflicts of interest. Its financial health is further reflected by a low liabilities-to-assets ratio and a high program expense ratio, suggesting that a significant portion of its funds is directed towards its mission.
The nonprofit excels in transparency, having established essential policies such as conflict of interest, whistleblower, and document retention and destruction policies. The availability of board meeting minutes also contributes to a culture of accountability. These strengths illustrate a commitment to responsible management and operational integrity.
However, while the organization demonstrates a commendable financial structure and governance, there are no explicit details on the impact or effectiveness of its programs in the data provided. Prospective donors and stakeholders may seek additional information on the outcomes of its initiatives to better understand the full scope of its contributions to the community.
This AI summary has been generated from information found on Charity Navigator.
Is Bowie Business Innovation Center Inc legitimate?
Bowie Business Innovation Center Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Bowie Business Innovation Center 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: $33,750
Professional Fundraising Fees: $0
Other Salaries and Wages: $44,440
For more financial information, click here
Official website here: www.bowiebic.com
What is the mission statement of Bowie Business Innovation Center Inc?
The Bowie Business Innovation Center Inc serves as a significant educational resource and catalyst for entrepreneurship, focusing on the city of Bowie and Prince George's County. Its mission is to accelerate the growth, innovation, and job creation of local businesses through a coordinated program of business counseling, mentoring, networking, and access to facilities and meeting spaces. The center provides mentoring, technical assistance, counseling, and connections to partners and capital, aiming to scale up businesses. The Bowie Business Innovation Center, headquartered at Bowie State University, is the only business accelerator located at a Historically Black College (HBCU) in Maryland. In 2022, the center reported generating 522 jobs, $73.4 million in revenues, and supporting 10 internships for Bowie State University students. Additionally, the center assisted 1,707 county entrepreneurs through on-site training and counseling programs. In 2021, the center continued its collaboration with the U.S. Small Business Administration, offering an 8(a) Accelerator program that helped 124 minority businesses secure $50 million in federal government contracting business. The Bowie Business Innovation Center is a Maryland non-profit organization funded through a public-private partnership.
Official website here: www.bowiebic.com
Who is the CEO of Bowie Business Innovation Center Inc?
Jesse Buggs is the Principal Officer of Bowie Business Innovation Center Inc.
Official website here: www.bowiebic.com
What is the revenue of Bowie Business Innovation Center Inc?
Bowie Business Innovation Center Inc's revenue in 2022 was $3,282,481.
Official website here: www.bowiebic.com
Who are the executives of Bowie Business Innovation Center Inc and what are their salaries?
The average compensation at Bowie Business Innovation Center Inc during 2022 was $78,190. There is 1 employee and 10 volunteers at Bowie Business Innovation Center Inc.
Here are 10 key members and their salaries:
- 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
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $36,210
- Related: $0
- Other: $0
Official website here: www.bowiebic.com
Where can I find the form 990 for Bowie Business Innovation Center Inc?
Bowie Business Innovation Center Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.bowiebic.com
Learn more at the official website: www.bowiebic.com
Mission Statement of Bowie Business Innovation Center Inc
The Bowie Business Innovation Center Inc, acting as a crucial educational resource and catalyst for entrepreneurship in its local area, is dedicated to fostering business growth, innovation, and job creation. Its mission is to provide a coordinated program of business counseling, mentoring, and networking, aimed at driving the scale-up of businesses in the city of Bowie and Prince George's County. The center offers technology companies and government contractors in this region access to mentoring, technical assistance, counseling, and connections to partners and capital, thereby accelerating their business growth. Located at the Center for Business at Bowie State University, the Bowie Business Innovation Center is unique as it operates from a Historically Black College or University (HBCU).
In 2022, the center's accelerator program reported significant achievements, with its 107 clients and graduates generating 522 jobs, amassing $73.4 million in revenues, and supporting 10 internships for Bowie State University students. Additionally, the center assisted 1707 county entrepreneurs through on-site training and counseling programs. Furthermore, the Bowie Business Innovation Center continued its collaboration with the U.S. Small Business Administration, running America's first 8(a) accelerator program. This program aided 124 minority businesses in securing $50 million in federal government contracting business, through its program of capture strategy development, mentoring, and networking.
In summary, the Bowie Business Innovation Center Inc is a non-profit organization that leverages a public-private partnership to stimulate economic growth and create opportunities in the city of Bowie and Prince George's County. Through its accelerator program, it provides essential resources and support for technology companies and government contractors, enabling them to scale up their businesses, create jobs, and contribute to the local economy.
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
Bowie Business Innovation Center Inc. serves as a pivotal educational resource and catalyst for entrepreneurship in Bowie and Prince George's County. By providing a structured business accelerator program, it equips technology companies and government contractors with essential tools such as mentoring, technical assistance, counseling, and valuable connections to partners and capital.
Headquartered at Bowie State University, the innovation center uniquely leverages its relationship with a Historically Black College and University (HBCU) to foster growth and inclusivity in the entrepreneurial landscape. In 2022 alone, its program helped 107 clients and graduates generate 522 jobs and produce $73.4 million in revenues. Additionally, the center supported 10 internships for students from Bowie State University, effectively linking academic learning with practical entrepreneurial experience.
Bowie BIC has also made significant strides in assisting local entrepreneurs. Over the past year, it engaged 1,707 county entrepreneurs through on-site training and counseling programs, reflecting its commitment to broadening access to business resources. The center has spearheaded initiatives like America's first 8(a) Accelerator program in partnership with the U.S. Small Business Administration, enabling 124 minority businesses to secure $50 million in federal contracts by providing focused support in capture strategy development, mentoring, and networking.
Overall, Bowie Business Innovation Center Inc. plays a vital role in accelerating company growth, fostering innovation, and generating jobs, significantly impacting the local economy and community development in Bowie and Prince George's County.
This information is meant to be a general summary of Bowie Business Innovation Center 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: $81
- Program Service Revenue: $16,650
- Gross Receipts: $3,282,481
Assets and Liabilities:
- Total Assets: $3,400,164
- Total Liabilities: $17,971
- Net Assets: $3,382,193
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.
AFFILIATE CLIENT FEES
Revenue
$10,350
OTHER PROGRAM REVENUE
Revenue
$6,300
Organization Details
Founding Year
2009
Phone
(301) 383-1550Principal Officer
Jesse Buggs
Main Address
14000 JERICHO PARK ROAD, BOWIE, MD, 20715
Website
www.bowiebic.comNTEE Category
Code: B90 - Education
If you are a representative of Bowie Business Innovation Center Inc 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.