Overview
What is The Youngstown Edison Business Incubator?
The Youngstown Edison Business Incubator is a nonprofit organization situated in Youngstown, Ohio, specifically at 241 Federal Plaza West. Its primary mission is to stimulate business growth, job creation, and contribute to the revitalization of the Mahoning Valley region. They achieve this by offering comprehensive entrepreneurial services and resources in a robust environment that encourages company success, attraction, and retention. By doing so, they aim to cultivate, accelerate, and promote the formation, growth, commercialization, and innovation of technology-based businesses. With a workforce of 24 individuals, they contribute significantly to the local economy.
Official website here: www.ybi.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 88% - Three-Star out of Four Star rating
The Youngstown Edison Business Incubator has received a Three-Star rating from Charity Navigator, indicating a solid performance in accountability and finance with an overall score of 88%. This rating is primarily based on a comprehensive evaluation of their financial management practices, showcasing strong governance with a fully independent board and effective oversight mechanisms. Their program expense ratio of 82.06% further reflects a significant commitment to using funds for their core mission.
The organization demonstrates transparency through various measures, such as the listing of their website on tax forms and the maintenance of board meeting minutes. However, some aspects of their governance are lacking, specifically the absence of a whistleblower policy and a documented retention and destruction policy, both of which are crucial for ensuring accountability and ethical operations.
Overall, while The Youngstown Edison Business Incubator shows commendable financial stewardship and governance, improvements in specific policy areas could enhance their credibility and operational effectiveness in the nonprofit sector.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about The Youngstown Edison Business Incubator?
96% of 38 reviewers on Facebook endorse The Youngstown Edison Business Incubator. Here is a summary of their reviews:
Many individuals have expressed that their experiences at the Incubator were not only positive but also enriching. Reviewers highlighted the informative sessions and supportive atmosphere, noting that they found the resources provided to be invaluable. Overall, there is a sense of enthusiasm about returning to the incubator for future events and workshops, indicating a strong community engagement.
The general sentiment reveals that the Incubator effectively meets the needs of its attendees, fostering a supportive environment for growth and innovation. Participants appreciate the opportunity to connect with like-minded individuals while enhancing their knowledge and skills in business.
This AI summary has been generated from reviews found on Facebook.
Is The Youngstown Edison Business Incubator legitimate?
The Youngstown Edison Business Incubator is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Youngstown Edison Business Incubator 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: $139,094
Professional Fundraising Fees: $0
Other Salaries and Wages: $920,408
For more financial information, click here
Official website here: www.ybi.org
What is the mission statement of The Youngstown Edison Business Incubator?
The Youngstown Edison Business Incubator's mission is centered around business development. Its primary objective is to foster, accelerate, and promote the formation, growth, commercialization, and innovation of technology-driven businesses. This is achieved by offering comprehensive and high-quality entrepreneurial services and resources in a robust environment that encourages company success, attraction, and retention. The incubator's ultimate goal is to cultivate a thriving ecosystem that supports the growth of technology-based businesses.
Official website here: www.ybi.org
Who is the CEO of The Youngstown Edison Business Incubator?
James Dascenzo is the Chairperson of The Youngstown Edison Business Incubator. The CEO's salary of The Youngstown Edison Business Incubator is $127,851 and their total compensation is $139,094.
Official website here: www.ybi.org
What is the revenue of The Youngstown Edison Business Incubator?
The Youngstown Edison Business Incubator's revenue in 2022 was $4,125,884.
Official website here: www.ybi.org
Who are the executives of The Youngstown Edison Business Incubator and what are their salaries?
The average compensation at The Youngstown Edison Business Incubator during 2022 was $44,146. There are 24 employees at The Youngstown Edison Business Incubator.
Here are 19 key members and their salaries (The Youngstown Edison Business Incubator's CEO's salary is $127,851 and their total compensation is $139,094):
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Official website here: www.ybi.org
Where can I find the form 990 for The Youngstown Edison Business Incubator?
The Youngstown Edison Business Incubator's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.ybi.org
Learn more at the official website: www.ybi.org
Mission Statement of The Youngstown Edison Business Incubator
The Youngstown Edison Business Incubator is dedicated to fostering, accelerating, and promoting the growth of technology-based businesses. This is achieved by providing comprehensive and high-quality entrepreneurial services and resources in a robust environment that encourages company success, attraction, and retention. The incubator's mission is to cultivate, accelerate, and promote the formation, growth, commercialization, and innovation of these technology-driven businesses. By offering a comprehensive suite of entrepreneurial services, The Youngstown Edison Business Incubator aims to create an environment that not only supports the success of these businesses but also attracts and retains them, thereby contributing to the overall growth and development of the business ecosystem.
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Impact
October, 2024
The Youngstown Edison Business Incubator plays a crucial role in shaping the entrepreneurial landscape of Youngstown and the surrounding Mahoning Valley. By focusing on technology-based businesses, it accelerates the formation and growth of startups, driving innovation and commercialization in the region. The incubator offers comprehensive and high-quality entrepreneurial services and resources, fostering an environment conducive to business success.
One of the significant impacts of the incubator is job creation, as it supports nascent companies in scaling and establishing a foothold in the market. This not only enhances the local economy but also contributes to the revitalization and overall growth of the Mahoning Valley. Through its initiatives, the incubator attracts and retains businesses, nurturing a robust community of entrepreneurs who thrive on collaboration and shared resources.
Furthermore, the incubator's emphasis on business development assists in building a sustainable ecosystem for innovation. By providing mentorship, networking opportunities, and access to critical resources, it empowers entrepreneurs to overcome challenges and seize opportunities. The Youngstown Edison Business Incubator is a catalyst for economic transformation, reinforcing the region's reputation as a hub for technology-driven enterprises.
This information is meant to be a general summary of The Youngstown Edison Business Incubator. 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.
- Gross Receipts: $4,199,945
Assets and Liabilities:
- Total Assets: $14,366,290
- Total Liabilities: $2,471,960
- Net Assets: $11,894,330
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Organization Details
Founding Year
1988
Phone
(330) 746-5003Principal Officer
James Dascenzo
Main Address
241 FEDERAL PLAZA WEST, YOUNGSTOWN, OH, 44503
Website
www.ybi.orgNTEE Category
Code: S30Z - Community improvement
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