Overview
What is City Startup Labs Inc?
City Startup Labs Inc, situated in Charlotte, North Carolina, is a nonprofit organization with a singular mission. They establish a Center of Excellence for Entrepreneurial Competency, Innovation, and Leadership at the University of North Carolina at Charlotte. This center aims to educate, train, mentor, and coach young individuals of color and formerly incarcerated individuals, empowering them to become successful entrepreneurs. In doing so, City Startup Labs Inc contributes positively to these individuals' lives, their families, communities, and the country as a whole. Additionally, they host convenings for Black tech talent, further promoting entrepreneurial and workforce development. With a dedicated team of one, City Startup Labs Inc is committed to making a significant impact in the realm of business and community development.
Official website here: www.citystartuplabs.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Star rating, 73%)
City Startup Labs Inc demonstrates solid accountability and financial health, achieving a perfect score in several key areas, including independent board member composition and material diversion of assets. With a program expense ratio of 71.18%, the organization effectively allocates a significant portion of its resources towards its programs, reflecting a commitment to its mission.
However, the organization does face notable limitations, particularly concerning governance policies. It lacks essential policies such as a whistleblower policy and a document retention and destruction policy, which contributed to its overall lower rating. Addressing these governance concerns could enhance transparency and build greater trust with stakeholders.
Overall, while City Startup Labs Inc shows strengths in certain financial aspects and governance structure, the missing policies indicate areas for improvement that could elevate its operational standards and effectiveness in serving its community.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about City Startup Labs Inc?
92% of reviewers on Facebook recommend City Startup Labs Inc. Here is a summary of their reviews:
Many users express enthusiasm for the mission of City Startup Labs Inc, highlighting it as a creative initiative that aims to create a lasting positive impact. Reviewers appreciate the organization’s focus on innovation and its potential to empower communities.
Overall, the sentiment is overwhelmingly positive, with supporters feeling optimistic about the nonprofit's vision and the legacy it aspires to build for future generations.
This AI summary has been generated from reviews found on Facebook.
Is City Startup Labs Inc legitimate?
City Startup Labs Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. City Startup Labs 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: $100,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.citystartuplabs.com
What is the mission statement of City Startup Labs Inc?
City Startup Labs Inc's mission is centered around providing entrepreneurial, business, and workforce development training and coaching to young individuals from underrepresented communities, specifically Black Americans and formerly incarcerated individuals, with an interest in business ownership. The organization aims to equip these individuals with the necessary skills to become viable entrepreneurs, thereby contributing positively to their own lives, families, communities, and the country. City Startup Labs Inc also hosts convenings for Black tech talent. Furthermore, they are establishing the Center of Excellence for Entrepreneurial Competency, Innovation, and Leadership (COE) at the University of North Carolina at Charlotte.
Official website here: www.citystartuplabs.com
Who is the CEO of City Startup Labs Inc?
Henry Rock is the Co-Chair of City Startup Labs Inc.
Official website here: www.citystartuplabs.com
What is the revenue of City Startup Labs Inc?
City Startup Labs Inc's revenue in 2022 was $1,087,508.
Official website here: www.citystartuplabs.com
Who are the executives of City Startup Labs Inc and what are their salaries?
The average compensation at City Startup Labs Inc during 2022 was $100,000. There is 1 employee at City Startup Labs Inc.
Here are 6 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $100,000
- Related: $0
- Other: $0
Official website here: www.citystartuplabs.com
Where can I find the form 990 for City Startup Labs Inc?
City Startup Labs Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.citystartuplabs.com
Learn more at the official website: www.citystartuplabs.com
Mission Statement of City Startup Labs Inc
City Startup Labs Inc is committed to providing an educational platform that equips young individuals from underrepresented communities, including Black Americans and formerly incarcerated individuals, with the necessary entrepreneurial, business, and workforce development skills. This nonprofit organization aims to transform these individuals into viable entrepreneurs, thereby positively impacting not only their lives but also their families, communities, and the nation at large.
In addition to its training and coaching programs, City Startup Labs Inc also hosts convenings for Black tech talent. The organization's mission extends beyond individual empowerment, as it seeks to foster a supportive environment that encourages entrepreneurship and innovation among its participants. To further its mission, City Startup Labs Inc has established the Center of Excellence for Entrepreneurial Competency, Innovation, and Leadership (COE) at the University of North Carolina at Charlotte. This center serves as a hub for entrepreneurial education, research, and innovation, providing a comprehensive platform for the development of the next generation of entrepreneurs.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
July, 2024
City Startup Labs Inc's impact includes providing instruction, training, mentoring, and coaching to prepare young persons of color and the formerly incarcerated to become viable entrepreneurs. By establishing the Center of Excellence for Entrepreneurial Competency, Innovation, and Leadership at the University of North Carolina at Charlotte, they are contributing to the development of entrepreneurial skills and leadership qualities in individuals from underrepresented communities. This initiative not only benefits the individuals themselves but also their families, communities, and the country as a whole in a fundamentally positive way. Additionally, by hosting convenings for black tech talent, City Startup Labs Inc is fostering a supportive environment for the growth and success of black entrepreneurs. Overall, their work focuses on entrepreneurial, business, and workforce development training and coaching for black Americans and formerly incarcerated individuals interested in business ownership.
This information is meant to be a general summary of City Startup Labs 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.
- Program Service Revenue: $504,777
- Gross Receipts: $1,087,508
Assets and Liabilities:
- Total Assets: $428,484
- Total Liabilities: $31,819
- Net Assets: $396,665
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM SERVICE INCOME
Revenue
$504,777
Organization Details
Founding Year
2016
Phone
(704) 807-3000Principal Officer
Henry Rock
Main Address
8816 CAVONNIER LANE, CHARLOTTE, NC, 28216
Website
www.citystartuplabs.comNTEE Category
Code: O53 - Youth development
If you are a representative of City Startup Labs Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.