Overview
What is Usccolumbia Technology Incubator?
Usccolumbia Technology Incubator is a nonprofit organization situated at 1225 Laurel Street, Columbia, South Carolina. Their primary mission is to foster educational and scientific advancements, as well as promote economic development within the Midlands Region of South Carolina. They achieve this by providing customized coaching, mentoring, informational seminars, strategic reviews, and intellectual property assessments to businesses in need. This assistance is backed by a team of respected local, regional, and national mentors and experts. Usccolumbia Technology Incubator secures funding through government grants and other relevant revenues, excluding rental income. With a team of just two employees, they strive to support businesses and drive growth in their local community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 86%, Three-Star out of Four Star rating
The Usccolumbia Technology Incubator has received an 86% score, which translates to a Three-Star rating. This rating primarily reflects the organization's strong performance in accountability and finance, indicating a well-managed nonprofit. The high marks in various financial criteria suggest that the organization is effectively utilizing its resources to support its mission.
Strengths of the Usccolumbia Technology Incubator include a fully independent board with 14 members, which enhances governance and oversight. The financial health of the organization is also notable, with a low liability-to-assets ratio of 37.68% and a high program expense ratio of 87.13%, demonstrating a commitment to spending on its core programs rather than administrative costs. Additionally, the organization has established robust policies, such as a conflict of interest policy and regular documentation of board meeting minutes.
While the organization has excelled in its financial management and governance, the data does not provide information on potential challenges or areas for improvement. Nevertheless, the overall metrics suggest that Usccolumbia Technology Incubator is a responsible and effective nonprofit working towards its goals.
This AI summary has been generated from information found on Charity Navigator.
Is Usccolumbia Technology Incubator legitimate?
Usccolumbia Technology Incubator is a legitimate nonprofit organization registered as a 501(c)(3) entity. Usccolumbia Technology 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:
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Other Salaries and Wages: $53,421
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What is the mission statement of Usccolumbia Technology Incubator?
The Usccolumbia Technology Incubator, established for educational and scientific pursuits, is dedicated to fostering economic growth in the Midlands Region of South Carolina. It accomplishes this by offering customized coaching, mentoring, and strategic reviews to participating companies. In addition, the incubator provides informational seminars, intellectual property assessments, and swift access to a network of respected mentors and experts to address any urgent business needs. The organization's revenue sources primarily consist of government grants and other program-related income, excluding rent.
What is the revenue of Usccolumbia Technology Incubator?
Usccolumbia Technology Incubator's revenue in 2022 was $921,702.
Who are the executives of Usccolumbia Technology Incubator and what are their salaries?
The average compensation at Usccolumbia Technology Incubator during 2022 was $10,684. There are 5 employees and 25 volunteers at Usccolumbia Technology Incubator.
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Where can I find the form 990 for Usccolumbia Technology Incubator?
Usccolumbia Technology Incubator's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Usccolumbia Technology Incubator
Usccolumbia Technology Incubator, an organization with a mission stated for educational and scientific purposes, is primarily focused on fostering economic development in the Midlands Region of South Carolina. In essence, its role is to promote learning and innovation while driving economic growth within this specific region. To achieve this mission, the incubator offers a range of services, including customized coaching, mentoring, informational seminars, and strategic reviews. Furthermore, it provides intellectual property assessments and addresses urgent company needs by providing immediate access to a team of respected local, regional, and national mentors and experts. The organization's revenue sources include government grants and other revenues directly related to its programs, distinguishing it as a nonprofit entity dedicated to its mission.
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Impact
July, 2024
Usccolumbia Technology Incubator has made a significant impact in fostering economic development and innovation in the Midlands Region of South Carolina. By providing customized coaching, mentoring, and strategic reviews, they have helped numerous businesses and entrepreneurs succeed. Their access to a network of mentors and experts has been instrumental in addressing urgent business needs and facilitating growth.
Through their educational and scientific programs, Usccolumbia Technology Incubator has contributed to the expansion of local businesses and the creation of new opportunities. Their focus on community improvement aligns with their mission to drive economic development in the region. Overall, their efforts have played a vital role in supporting the growth of the local economy and fostering a culture of innovation.
This information is meant to be a general summary of Usccolumbia Technology 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.
- Investment Income: $267
- Program Service Revenue: $343,900
- Gross Receipts: $1,193,398
Assets and Liabilities:
- Total Assets: $748,327
- Total Liabilities: $184,358
- Net Assets: $563,969
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Affiliate Program Income
Revenue
$2,100
Organization Details
Founding Year
2011
Principal Officer
Bill Kirkland
NTEE Category
Code: S20 - Community improvement
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