Overview
What is Star-Tec Enterprises Inc?
Star-Tec Enterprises Inc, operating under the Tampa Bay Innovation Center (TBIC) name, is a pivotal innovation hub situated in St. Petersburg, Florida. The organization's primary aim is to foster entrepreneurial success in the Tampa Bay region and Florida as a whole. It accomplishes this by nurturing early-stage ventures, which in turn lead to the creation of high-wage, high-tech jobs. TBIC offers various programs to support this mission. The Accelerator program, for instance, provides 80+ hours of curriculum and mentorship to help technology ventures scale their companies. Four cohorts have graduated from this program, collectively raising over $50 million in investment. The Incubator program, based on a Business Canvas Model, offers an eight-week course to help creators and tech startups launch their ideas, boasting over 250 graduates since its inception. The organization also offers dedicated coworking spaces and offices tailored for tech startups and their teams. Furthermore, TBIC has garnered recognition for its exceptional service, culture, and innovative graduates, appearing on lists such as Tampa Bay's 50 Fastest Growing Companies and INC 5000. Additionally, TBIC hosts Education & Training Meetups and a Mentor Program, Startup Xchange, to help founders develop product discovery and go-to-market strategies and answer questions related to launching a new company, respectively.
Official website here: www.tbinnovates.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 37%, Zero-Star out of Four Star rating. This rating indicates significant concerns regarding the charity's accountability and financial practices. The overall score is derived solely from the Accountability & Finance beacon, which highlights areas where the organization falls short.
One of the organization's strengths is its independent governance, with 81% of board members being independent and a well-sized board consisting of 9 members. Additionally, the organization has established policies for conflict of interest and document retention, which are positive indicators of governance practices. However, the charity's financial reporting is severely lacking, as it has no financial statements available, resulting in a poor score in this category.
The charity also shows alarming weaknesses in its financial health, with a program expense ratio of only 0.53%, suggesting that very little of its resources are allocated towards its programs. Furthermore, the absence of a whistleblower policy and the lack of posted tax forms on its website raises questions about transparency and accountability. Overall, while there are some good governance practices in place, the overall financial health and transparency of Star-Tec Enterprises Inc are concerning.
This AI summary has been generated from information found on Charity Navigator.
Is Star-Tec Enterprises Inc legitimate?
Star-Tec Enterprises Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Star-Tec Enterprises 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: $187,641
Professional Fundraising Fees: $0
Other Salaries and Wages: $224,496
For more financial information, click here
Official website here: www.tbinnovates.com
What is the mission statement of Star-Tec Enterprises Inc?
Star-Tec Enterprises Inc serves as a catalyst for innovation, focusing on nurturing early-stage ventures in the tech sector. Their mission is to accelerate entrepreneurial success, aiming to create high-wage, high-tech jobs and stimulate wealth generation in the region. They offer various programs such as product discovery meetups, mentor programs, accelerators, and incubators, providing founders with resources and guidance to scale their companies. The organization has a strong track record, with over 250 graduates from its incubator program and over $50 million in investment dollars raised by its accelerator graduates. Star-Tec Enterprises Inc has also been recognized for its exceptional service and culture, being honored with several awards.
Official website here: www.tbinnovates.com
Who is the CEO of Star-Tec Enterprises Inc?
Tonya R Elmore is the President & Ceo of Star-Tec Enterprises Inc. The CEO's salary of Star-Tec Enterprises Inc is $158,064 and their total compensation is $163,291.
Official website here: www.tbinnovates.com
What is the revenue of Star-Tec Enterprises Inc?
Star-Tec Enterprises Inc's revenue in 2023 was $1,653,097.
Official website here: www.tbinnovates.com
Who are the executives of Star-Tec Enterprises Inc and what are their salaries?
The average compensation at Star-Tec Enterprises Inc during 2023 was $103,034. There are 4 employees and 80 volunteers at Star-Tec Enterprises Inc.
Here are 11 key members and their salaries (Star-Tec Enterprises Inc's CEO's salary is $158,064 and their total compensation is $163,291):
- Compensation: $158,064
- Related: $0
- Other: $5,227
- Compensation: $3,750
- Related: $0
- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
Official website here: www.tbinnovates.com
Where can I find the form 990 for Star-Tec Enterprises Inc?
Star-Tec Enterprises Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.tbinnovates.com
Learn more at the official website: www.tbinnovates.com
Mission Statement of Star-Tec Enterprises Inc
Star-Tec Enterprises Inc serves as a catalyst for innovation in the broader context of Florida and the Tampa Bay region. Its primary mission is to foster entrepreneurial success by nurturing early-stage ventures that have the potential to create high-wage, high-tech jobs and generate wealth within the Tampa Bay region. The organization accomplishes this by providing a range of programs and services tailored to the needs of technology start-ups.
One of Star-Tec Enterprises Inc's key initiatives is its Product Discovery Meetup, a spin-off of its Tech Accelerator Program. This event is open to founders of B2B or B2G technology start-ups, aiming to help them refine their product discovery and go-to-market strategies, thereby increasing their chances of establishing early and sustainable traction. Another program offered by Star-Tec Enterprises Inc is Startup Xchange, a mentorship program for individuals considering launching a new company.
In addition to these, Star-Tec Enterprises Inc also has an Accelerator Program, which prepares technology ventures to scale their companies. The program offers over 80 hours of curriculum and access to numerous mentors. The Accelerator Program has graduated four cohorts, with investment dollars raised exceeding $50 million. The organization also has an Incubator Program, based on a Business Canvas Model, which helps creators and tech start-ups launch their ideas through an eight-week program. Over 250 graduates have emerged from this program since its inception.
Star-Tec Enterprises Inc also provides dedicated workspace and conference rooms specifically designed for tech start-ups and their teams. The organization's commitment to fostering a thriving tech ecosystem has been recognized with several awards, including the Tampa Bay Technology Forum's Excellence in Service Award, the Innovation on Fire Honoree award, and the Powderkeg Top-Rated Culture award, recognizing Star-Tec Enterprises Inc as having one of the best cultures in tech beyond Silicon Valley. Graduates of Star-Tec Enterprises Inc have also been recognized among Tampa Bay's 50 Fastest Growing Companies, the INC 5000, and the Innovation on Fire Honorees.
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Impact
October, 2024
Star-Tec Enterprises Inc significantly impacts the entrepreneurial landscape of Florida, particularly within the Tampa Bay region. By serving as a central hub for innovation, it fosters an environment where technology startups can thrive. Through comprehensive educational and training programs, such as the Product Discovery Meetup and the TBIC Accelerator, the organization equips founders with essential knowledge and strategies to navigate the complex startup ecosystem.
The focus on product discovery and go-to-market strategies enhances the likelihood of startups gaining early traction, contributing to their long-term sustainability. The Startup Xchange mentorship program provides valuable guidance for aspiring entrepreneurs, helping them refine their ideas and launch successful ventures.
Additionally, the incubator program supports creators in launching their concepts through an intensive eight-week curriculum, leading to the graduation of over 250 startups. With more than $50 million in investment dollars raised by accelerator graduates and recognition from esteemed organizations, Star-Tec bolsters the economy by promoting high-wage, high-tech job creation and wealth generation in the region.
Their dedicated office spaces and coworking facilities are tailored specifically for tech startups, fostering collaboration and innovation among diverse teams. Overall, Star-Tec Enterprises Inc plays a crucial role in shaping a vibrant entrepreneurial community, enhancing the technological landscape of Tampa Bay, and driving economic growth.
This information is meant to be a general summary of Star-Tec Enterprises 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 2023.
- Program Service Revenue: $429,387
- Gross Receipts: $1,653,097
Assets and Liabilities:
- Total Assets: $1,384,348
- Total Liabilities: $112,360
- Net Assets: $1,271,988
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ROOM & EQUIPMENT RENT
Revenue
$207,741
ECONOMIC DEVELOPMENT S
Revenue
$202,500
SERVICE FEES
Revenue
$19,146
Organization Details
Founding Year
2010
Phone
(727) 547-7340Principal Officer
Tonya R Elmore
Main Address
501 1ST AVENUE NORTH 901, ST PETERSBURG, FL, 33701
Website
www.tbinnovates.comNTEE Category
Code: S204 - Community improvement
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