Overview
What is Flywheel Social Enterprise Hub?
Flywheel Social Enterprise Hub is a supportive hub located at 1311 Vine Street, Cincinnati, Ohio, specifically aiding early and mid-stage entrepreneurs who incorporate social impact into their business models. This nonprofit organization provides them with expert guidance, collaborative learning opportunities, and personalized coaching, aiming to help them establish successful ventures that contribute positively to society. With a focus on diversity, 54% of the entrepreneurs they assist are women, and 41% are from underrepresented backgrounds. Their impact is significant, with 80% of their alumni still in operation after three years and reporting progress on their impact metrics. As a result, these enterprises have created employment opportunities for over 100 people in the Greater Cincinnati area and secured over $6 million in follow-on funding.
Official website here: www.flywheelcincinnati.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 82% (Three-Star out of Four Star Rating)
Flywheel Social Enterprise Hub has earned a three-star rating from Charity Navigator, reflecting a solid accountability and finance score of 82%. This rating indicates that the organization demonstrates strong governance and fiscal responsibility. Notably, it has achieved a perfect score for having an entirely independent board and adheres to best practices for policies such as conflict of interest and whistleblower protections.
The organization has also maintained good transparency regarding its operations, as evidenced by its proper documentation and the presence of board meeting minutes. The score highlights its commitment to ethical management, with no material diversion of assets noted. However, while the program expense ratio is commendable, there is some room for improvement in optimizing financial resources for program services, as indicated by the score of 62.16%.
Overall, Flywheel Social Enterprise Hub showcases a reliable framework for accountability, but potential donors and stakeholders may want to consider its program efficiency as a factor in their decision-making. The organization’s strengths in governance and transparency provide a level of assurance, while the financial metrics suggest potential for further enhancement in program spending.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Flywheel Social Enterprise Hub?
Flywheel Social Enterprise Hub has received some positive initial impressions from its reviewers. Although they are currently not rated with a star system, the feedback highlights the organization’s commitment to fostering connections and sharing valuable knowledge.
One reviewer specifically praised Bill Tucker for his generous guidance and extensive network, emphasizing how he effectively connects individuals and ideas within the Cincinnati community. This suggests that those who engage with the organization find real value in the support and resources it provides.
Overall, the sentiment surrounding Flywheel is encouraging, indicating that people appreciate the hub's mission and impact in facilitating collaboration and growth among social enterprises.
This AI summary has been generated from reviews found on Facebook.
Is Flywheel Social Enterprise Hub legitimate?
Flywheel Social Enterprise Hub is a legitimate nonprofit organization registered as a 501(c)(3) entity. Flywheel Social Enterprise Hub 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: $112,330
Professional Fundraising Fees: $0
Other Salaries and Wages: $71,539
For more financial information, click here
Official website here: www.flywheelcincinnati.org
What is the mission statement of Flywheel Social Enterprise Hub?
The mission of Flywheel Social Enterprise Hub, as a startup accelerator, is to aid social entrepreneurs in establishing ventures that generate both financial profit and societal impact. This is achieved through workshops, training programs, and personalized coaching. The hub primarily assists early and mid-stage social enterprises, with a notable demographic of 54% female and 41% BIPOC founders. The hub's initiatives have proven successful, with 80% of its alumni still in operation after three years, reporting progress on their impact metrics. These ventures, collectively, employ over 100 people and have secured over $6-million in follow-on funding.
Official website here: www.flywheelcincinnati.org
Who is the CEO of Flywheel Social Enterprise Hub?
Laura Randall-Tepe is the Board Member of Flywheel Social Enterprise Hub.
Official website here: www.flywheelcincinnati.org
What is the revenue of Flywheel Social Enterprise Hub?
Flywheel Social Enterprise Hub's revenue in 2022 was $491,352.
Official website here: www.flywheelcincinnati.org
Who are the executives of Flywheel Social Enterprise Hub and what are their salaries?
The average compensation at Flywheel Social Enterprise Hub during 2022 was $18,387. There are 10 employees and 75 volunteers at Flywheel Social Enterprise Hub.
Here are 13 key members and their salaries:
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- Other: $1,406
Official website here: www.flywheelcincinnati.org
Where can I find the form 990 for Flywheel Social Enterprise Hub?
Flywheel Social Enterprise Hub's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.flywheelcincinnati.org
Learn more at the official website: www.flywheelcincinnati.org
Mission Statement of Flywheel Social Enterprise Hub
Flywheel Social Enterprise Hub, a startup accelerator, is committed to assisting socially-minded entrepreneurs in establishing ventures that generate both financial profit and social impact. To achieve this mission, Flywheel provides its clients with a range of resources, including workshops, training programs, and personalized coaching. The organization serves early and mid-stage social enterprises, with a focus on supporting women and individuals from underrepresented racial and ethnic backgrounds (BIPOC). By offering expert guidance, collaborative learning opportunities, and tailored support, Flywheel helps these entrepreneurs build businesses that deliver on their double bottom line objectives. The organization's efforts have proven effective, with 80% of its alumni continuing to operate their ventures three years after graduating and reporting progress on their impact metrics. As a result, Flywheel alumni have collectively employed over 100 individuals and secured over $6 million in additional funding.
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Impact
July, 2024
Flywheel Social Enterprise Hub has played a critical role in fostering the growth and success of social entrepreneurs who have woven social impact into their business models. With a strong focus on providing expert training, collaborative learning, and personalized coaching, Flywheel has empowered early and mid-stage social enterprises to thrive. This has resulted in tangible outcomes, with 80% of their alumni still in business after three years and making significant progress on their impact metrics. Furthermore, Flywheel alumni have created over 100 job opportunities in the Greater Cincinnati area and raised more than $6 million in follow-on funding, demonstrating a clear and sustainable impact on both the local community and the broader social entrepreneurship landscape.
This information is meant to be a general summary of Flywheel Social Enterprise Hub. 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: $17,829
- Gross Receipts: $491,352
Assets and Liabilities:
- Total Assets: $331,451
- Total Liabilities: $186,264
- Net Assets: $145,187
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Consulting Income
Revenue
$17,829
Organization Details
Founding Year
2012
Phone
(513) 202-3209Principal Officer
Laura Randall-Tepe
Main Address
1311 Vine Street, Cincinnati, OH, 45202
Website
www.flywheelcincinnati.orgNTEE Category
Code: T02 - Philanthropy
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