Overview
What is Jumpstart Inc?
Jumpstart Inc, based in Cleveland, Ohio, is a dynamic nonprofit organization dedicated to economic revitalization through entrepreneurial services and investing. By functioning as a regional venture development entity, they support startups and high-potential small businesses in Northern Ohio, which have the ability to generate new employment opportunities and contribute to community improvement. Their primary goal is to encourage the creation and growth of businesses that can provide enhanced employment opportunities and aid in the restoration of Northern Ohio, an area that has experienced economic decline and deterioration. Jumpstart conducts investment activities to supplement state and local government economic and job development programs. They offer seed investment capital and strategic and operational guidance from experienced venture partners to help innovative companies advance through stages of growth and attract follow-on funding. Through fiscal year 2022, Jumpstart has invested $78M in 154 portfolio companies, and they provide intensive technical support to ensure key milestones are met. Jumpstart's advisors connect their clients and portfolio companies with valuable resources, including subject matter experts, board members, management team members, and potential customers, enabling them to meet individual milestones and achieve success.
Official website here: www.jumpstartinc.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 100%, Four-Star out of Four Star rating.
Jumpstart Inc has achieved an impressive Four-Star rating from Charity Navigator, reflecting its high standards in accountability and finance. With a perfect score in several financial metrics, including a low liabilities-to-assets ratio and a strong program expense ratio, the organization demonstrates its effective use of funds toward its mission. All board members are independent, which enhances governance and transparency.
The nonprofit has also excelled in its culture and community aspects, earning a perfect score in feedback collection and usage. This indicates a strong commitment to engaging with its stakeholders and adapting its practices based on their input. The organization upholds robust policies, including conflict of interest, whistleblower protections, and document retention, further solidifying its ethical framework.
While Jumpstart Inc showcases numerous strengths in financial health and governance, continued attention to stakeholder feedback and community engagement will be essential for maintaining its high performance and addressing any future challenges. Overall, the organization stands out as a financially responsible and community-focused nonprofit.
This AI summary has been generated from information found on Charity Navigator.
Is Jumpstart Inc legitimate?
Jumpstart Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Jumpstart 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: $1,701,416
Professional Fundraising Fees: $0
Other Salaries and Wages: $6,675,624
For more financial information, click here
Official website here: www.jumpstartinc.org
What is the mission statement of Jumpstart Inc?
Jumpstart Inc is dedicated to fueling the growth of aspiring businesses and entrepreneurs, ultimately contributing to the betterment of entire communities. By offering investment and various programs, Jumpstart Inc helps to combat community deterioration and alleviate the burden on governments. These initiatives aim to revitalize the economic landscape, providing a much-needed boost to areas that have experienced decline. Through its efforts, Jumpstart Inc unlocks the full potential of entrepreneurship, leading to job creation and growth.
Official website here: www.jumpstartinc.org
Who is the CEO of Jumpstart Inc?
Ray T Leach is the Board Chair of Jumpstart Inc. The CEO's salary of Jumpstart Inc is $485,596 and their total compensation is $522,200.
Official website here: www.jumpstartinc.org
What is the revenue of Jumpstart Inc?
Jumpstart Inc's revenue in 2022 was $21,511,113.
Official website here: www.jumpstartinc.org
Who are the executives of Jumpstart Inc and what are their salaries?
The average compensation at Jumpstart Inc during 2022 was $85,480. There are 98 employees and 111 volunteers at Jumpstart Inc.
Here are 47 key members and their salaries (Jumpstart Inc's CEO's salary is $485,596 and their total compensation is $522,200):
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- Compensation: $485,596
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- Compensation: $155,488
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- Other: $4,490
Official website here: www.jumpstartinc.org
Where can I find the form 990 for Jumpstart Inc?
Jumpstart Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.jumpstartinc.org
Learn more at the official website: www.jumpstartinc.org
Mission Statement of Jumpstart Inc
Jumpstart Inc, a mission-driven organization, strives to unlock the full potential of entrepreneurship in transforming entire communities. By focusing on high potential, early-stage businesses in northern Ohio, Jumpstart Inc sets out to improve success in achieving goals and raising capital. The organization's efforts result in job creation and growth, contributing to the economic revitalization of the region.
Jumpstart Inc's commitment to community development goes beyond individual businesses. Through investment and various programs, it aims to combat community deterioration and lessen the burdens of government. The organization's economic revitalization initiatives play a crucial role in fostering a thriving business environment and promoting sustainable growth in northern Ohio. By empowering entrepreneurs, Jumpstart Inc contributes to the overall well-being and prosperity of the community.
In essence, Jumpstart Inc serves as a catalyst for change, unlocking the potential of entrepreneurship to transform communities and improve economies. Its comprehensive approach to economic development combats community deterioration, creates jobs, and fosters a vibrant business environment, making a significant impact on the lives of individuals and the region as a whole.
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Impact
October, 2024
Jumpstart Inc significantly influences the entrepreneurial landscape in Northern Ohio by fostering the growth of early-stage businesses that possess high potential for success. By providing essential support and resources—ranging from seed capital investment to intensive technical guidance—Jumpstart accelerates the development of these startups, directly contributing to job creation and economic revitalization in the region.
By investing $78 million in 154 portfolio companies, Jumpstart has played a crucial role in helping innovative businesses reach key growth milestones. This investment not only allows companies to finalize their products and expand marketing efforts but also aids in securing further funding, which is vital for their sustainability and growth. The strategic pairing of investment with mentorship from experienced venture partners strengthens these companies, enabling them to navigate challenges and capitalize on opportunities.
Furthermore, Jumpstart connects these businesses with a vast network of resources, including experts and potential customers, facilitating collaborative growth and reducing barriers to success. Through its focused entrepreneurial services, Jumpstart Inc actively combats economic decline, enhances community vitality, and contributes to the overall prosperity of Northern Ohio. By unlocking the full potential of local entrepreneurship, Jumpstart Inc is a catalyst for lasting change, transforming not just individual companies but entire communities.
This information is meant to be a general summary of Jumpstart 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: $7,478,895
- Program Service Revenue: $2,210,465
- Gross Receipts: $35,450,085
Assets and Liabilities:
- Total Assets: $82,356,707
- Total Liabilities: $13,656,986
- Net Assets: $68,699,721
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
OTHER INCOME
Revenue
$1,762,621
SUPPORT SERVICE
Revenue
$447,844
Organization Details
Founding Year
1983
Phone
(216) 363-3400Principal Officer
Ray T Leach
Main Address
6701 CARNEGIE AVENUE 100, CLEVELAND, OH, 44103
Website
www.jumpstartinc.orgNTEE Category
Code: S20Z - Community improvement
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