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Central Region Innovation And Commercialization Center Inc

Learn about this cause: Is it Legit? Do I like the mission? What is the CEO's salary?

EIN: 371441604 ✦ Bowling green, KY ✦ Designated as a 501(c)(3)

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Overview

What is Central Region Innovation And Commercialization Center Inc?

Central Region Innovation and Commercialization Center Inc, located in Bowling Green, Kentucky, serves as a resource for entrepreneurs, startups, and existing businesses in the region. This nonprofit organization provides a range of services at no cost, including business development consulting, mentoring, training, networking opportunities, funding guidance, and assistance in building an entrepreneurial ecosystem. Their mission is to facilitate the creation, growth, recruitment, and retention of science and technology/scalable companies within the Central Region of Kentucky, aiming to foster a thriving innovation community.


Official website here: www.centralregionicc.com

Is Central Region Innovation And Commercialization Center Inc legitimate?

Central Region Innovation And Commercialization Center Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Central Region Innovation And Commercialization 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: $49,220
Professional Fundraising Fees: $0
Other Salaries and Wages: $125,695

For more financial information, click here


Official website here: www.centralregionicc.com

What is the mission statement of Central Region Innovation And Commercialization Center Inc?

The Central Region Innovation and Commercialization Center Inc has a mission to foster the creation, growth, recruitment, and retention of science and technology/scalable companies within a specific region. This organization provides various services at no charge to assist entrepreneurs, startup companies, and existing businesses, including business development consulting, mentoring, training, networking opportunities, funding guidance, and the building of an entrepreneurial ecosystem.


Official website here: www.centralregionicc.com

What is the revenue of Central Region Innovation And Commercialization Center Inc?

Central Region Innovation And Commercialization Center Inc's revenue in 2023 was $450,611.


Official website here: www.centralregionicc.com

Who are the executives of Central Region Innovation And Commercialization Center Inc and what are their salaries?

The average compensation at Central Region Innovation And Commercialization Center Inc during 2023 was $58,305. There are 3 employees and 6 volunteers at Central Region Innovation And Commercialization Center Inc.

Here are 9 key members and their salaries:


Buddy Steen (Executive In Residence)
  • Compensation: $97,927
  • Related: $0
  • Other: $29,222
William J Hook (Executive Director)
  • Compensation: $36,917
  • Related: $0
  • Other: $11,165
Lois Hall (Accountant)
  • Compensation: $1,170
  • Related: $0
  • Other: $0
Blaine Ferrell (President)
  • Compensation: $0
  • Related: $0
  • Other: $0
D Gaines Penn (Secretary)
  • Compensation: $0
  • Related: $0
  • Other: $0
Richard Callahan (Treasurer)
  • Compensation: $0
  • Related: $0
  • Other: $0
Jeremy Jacobs (Board Member)
  • Compensation: $0
  • Related: $0
  • Other: $0
John Higgins (Board Member)
  • Compensation: $0
  • Related: $0
  • Other: $0
Ann Mead (Board Member)
  • Compensation: $0
  • Related: $0
  • Other: $0


Official website here: www.centralregionicc.com

Where can I find the form 990 for Central Region Innovation And Commercialization Center Inc?

Central Region Innovation And Commercialization Center Inc's most recent form 990 was submitted in 2023 and can be accessed here.


Official website here: www.centralregionicc.com

Learn more at the official website: www.centralregionicc.com

Mission Statement of Central Region Innovation And Commercialization Center Inc

Central Region Innovation and Commercialization Center Inc, commonly referred to as CRICC, is dedicated to promoting the growth and establishment of science and technology-based businesses in the central region of Kentucky. Their mission is to facilitate the creation, development, recruitment, and retention of scalable companies within this region. CRICC accomplishes this by offering a range of services at no cost to entrepreneurs, startups, existing businesses, and communities. These services include business development consulting, mentoring, training, networking opportunities, funding guidance, and entrepreneurial ecosystem building. By providing these resources, CRICC aims to support the growth and success of science and technology companies in the central region of Kentucky.

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Impact




October, 2024

Central Region Innovation And Commercialization Center Inc (CRICC) significantly impacts the Central Region of Kentucky by fostering the development of science and technology companies. By offering a range of services—such as business development consulting, mentoring, training, and networking opportunities—CRICC plays a vital role in supporting entrepreneurs and existing businesses.

The center's focus on recruitment and retention of scalable companies leads to job creation and economic growth in the region. Furthermore, by providing funding guidance and building an entrepreneurial ecosystem, CRICC enhances the viability of local startups and established companies alike. This holistic approach not only empowers individual businesses but also enriches the entire community, driving innovation and improving the local economy.




This information is meant to be a general summary of Central Region Innovation And Commercialization 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.

Revenue
$450,611 (2023)
Expenses
$397,662 (2023)
Efficiency

Other financial information:

This information is from the most recently submitted tax form from this organization, which was in 2023.

  • Program Service Revenue: $1,341
  • Gross Receipts: $450,611

Assets and Liabilities:

  • Total Assets: $97,349
  • Total Liabilities: $7,522
  • Net Assets: $89,827

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Programs

Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.

PROGRAM FEE

Revenue

$1,341

Organization Details

Founding Year

2002

Principal Officer

William J Hook

NTEE Category

Code: S31 - Community improvement

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