Overview
What is The Idea Village Inc?
The Idea Village Inc, based in New Orleans, Louisiana, is a nonprofit organization dedicated to nurturing entrepreneurship as a driver of social and economic change. For over two decades, it has played a significant role in elevating New Orleans as a hub of innovation, entrepreneurship, and business. The Idea Village supports over 14,955 entrepreneurs, providing direct assistance and education to founders and early-stage companies. Their mission is to identify, support, and retain entrepreneurial talent in the region. Two of their flagship programs include IdeaInstitute, a 10-week accelerator program for diverse founders, and VillagEX, a late-stage accelerator helping companies bridge the gap between seed and series A financing. The Idea Village's activities culminate in New Orleans Entrepreneur Week (NOEW), a prominent event celebrating business, innovation, and entrepreneurial thinking.
Official website here: www.ideavillage.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 100%, Four-Star out of Four Star Rating
The Idea Village Inc has achieved a perfect score of 100% on Charity Navigator, demonstrating an exemplary level of accountability and financial management. This rating is based solely on their Accountability & Finance score, which reflects strong governance practices such as a fully independent board and robust financial oversight measures. Key highlights include a zero material diversion of assets and comprehensive financial documentation policies.
However, user reviews from Great Nonprofits present a contrasting perspective. One review criticizes the organization for having a high overhead cost relative to its revenues, suggesting that the compensation for top executives was disproportionately large compared to the organization's overall income. This concern raises questions about the effectiveness and substantive impact of the organization despite its strong financial governance.
While The Idea Village Inc garners recognition for its financial accountability, the criticism regarding high executive salaries and perceived lack of substance in their operations could affect public perception. It indicates a need for the organization to address these concerns transparently to enhance its credibility among stakeholders.
This AI summary has been generated from information found on Charity Navigator and Great Nonprofits.
What do the Facebook reviews say about The Idea Village Inc?
92% of 27 reviewers on Facebook recommend The Idea Village Inc. Here's a summary of their insights:
Many users express a strong appreciation for the positive atmosphere within the nonprofit, highlighting the contagious energy and welcoming environment fostered by the team. The community vibe is a standout element, making it a place where individuals feel uplifted and supported.
Overall, it seems that The Idea Village Inc successfully creates an engaging and motivating space, resonating well with its supporters and participants. The organization's commitment to fostering a positive experience is clearly reflected in the feedback.
This AI summary has been generated from reviews found on Facebook.
Is The Idea Village Inc legitimate?
The Idea Village Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Idea Village 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: $160,394
Professional Fundraising Fees: $0
Other Salaries and Wages: $399,045
For more financial information, click here
Official website here: www.ideavillage.org
What is the mission statement of The Idea Village Inc?
The Idea Village Inc is a non-profit organization with a mission to identify, support, and retain entrepreneurial talent. Their primary goal is to foster entrepreneurship as a driver of social and economic change. Over the years, they have supported thousands of entrepreneurs, contributing to their city's reputation as a hub of innovation and business. The Idea Village offers programs providing direct support and education to founders and early-stage companies, helping them build innovative and industry-leading companies that generate revenue and jobs. They also cultivate emerging industries and strive to assemble world-class resources to support startups during their critical early stages of development. Programs such as IdeaInstitute and VillagEx offer education, exposure, connections, and mentorship opportunities, democratizing opportunities for high-growth venture creation.
Official website here: www.ideavillage.org
Who is the CEO of The Idea Village Inc?
Jon Atkinson is the Former Chair of The Idea Village Inc. The CEO's salary of The Idea Village Inc is $160,394 and their total compensation is $168,959.
Official website here: www.ideavillage.org
What is the revenue of The Idea Village Inc?
The Idea Village Inc's revenue in 2022 was $1,474,698.
Official website here: www.ideavillage.org
Who are the executives of The Idea Village Inc and what are their salaries?
The average compensation at The Idea Village Inc during 2022 was $55,944. There are 10 employees and 96 volunteers at The Idea Village Inc.
Here are 29 key members and their salaries (The Idea Village Inc's CEO's salary is $160,394 and their total compensation is $168,959):
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- Compensation: $160,394
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- Other: $8,565
Official website here: www.ideavillage.org
Where can I find the form 990 for The Idea Village Inc?
The Idea Village Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.ideavillage.org
Learn more at the official website: www.ideavillage.org
Mission Statement of The Idea Village Inc
The Idea Village Inc is a non-profit organization with a mission to identify, support, and retain entrepreneurial talent in its local region. This mission is carried out through various programs that provide direct support and education to founders and early-stage companies, helping them build innovative and industry-leading companies. By serving as a catalyst for entrepreneurship, The Idea Village Inc has played a significant role in New Orleans' transformation into a hub of innovation, entrepreneurship, and business.
The organization's activities are rooted in the belief that entrepreneurship is a powerful agent of social and economic change. Over the years, The Idea Village Inc has supported over 14,955 entrepreneurs, contributing to New Orleans' rising reputation as a tech cluster and a place that leads in startup growth. One of their flagship programs is the IdeaInstitute, a 10-week accelerator designed to help diverse founders develop a concept into a viable business. The curriculum, based on the Lean Startup Methodology, focuses on critical skills such as opportunity recognition, problem identification, prototyping, customer discovery, and business model development.
Furthermore, The Idea Village Inc operates Villagex, a late-stage accelerator that focuses on venture profile companies, helping them close the gap between seed and Series A financing. These companies have the potential to grow into substantial businesses, creating meaningful economic impact and job opportunities. The Idea Village Inc also hosts New Orleans Entrepreneur Week (NOEW), a free annual event that brings together business leaders, entrepreneurs, and emerging professionals to learn, network, and pitch their ideas.
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Impact
July, 2024
The Idea Village Inc has had a significant impact on New Orleans and the surrounding region by serving as a catalyst for the city's entrepreneurial movement. By supporting over 14,955 entrepreneurs and elevating New Orleans' reputation as a hub of innovation and business, the organization has contributed to the city's economic growth. The programs offered, such as IdeaInstitute and VILLAGEX, have helped founders develop their concepts into viable businesses, resulting in job creation and economic impact. Additionally, events like New Orleans Entrepreneur Week provide a platform for celebrating business and innovation, attracting thousands of attendees each year. The Idea Village's continuous evolution to meet the needs of founders and the startup pipeline demonstrates its commitment to inspiring, starting, and scaling high-growth ventures in the community.
This information is meant to be a general summary of The Idea Village 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: $37
- Program Service Revenue: $16,264
- Gross Receipts: $1,474,698
Assets and Liabilities:
- Total Assets: $1,052,812
- Total Liabilities: $157,277
- Net Assets: $895,535
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM FEES
Revenue
$16,264
Organization Details
Founding Year
2002
Phone
(504) 291-2563Principal Officer
Jon Atkinson
Main Address
900 CAMP STREET 308, NEW ORLEANS, LA, 70130
Website
www.ideavillage.orgNTEE Category
Code: S40 - Community improvement
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