Overview
What is Mhub?
Mhub, with its headquarters in Chicago, Illinois, is a dynamic innovation center primarily focused on hardtech and manufacturing. With a mission to foster collaboration and accelerate the commercialization of innovative ideas, Mhub serves as a hub for product designers, developers, entrepreneurs, engineers, and manufacturers. Their goal is to enable U.S. hardtech innovation by providing an accessible, highly-resourced environment, supporting clean energy, health, sustainability, and manufacturing entrepreneurship. By connecting talented individuals and startups with established manufacturers and industry leaders, Mhub assists in bringing breakthrough products to market, thus playing a crucial role in the hardtech development sector. Their team comprises 39 dedicated professionals.
Official website here: www.mhubchicago.com
What are the reviews and ratings of this charity?
Mhub has earned an impressive Four-Star out of Four Star rating from Charity Navigator, scoring 96% overall. This rating signifies strong performance, particularly in Accountability & Finance where it scored 83%. The organization exhibits notable strengths such as a fully independent board and robust oversight practices, with measures in place like conflict of interest and whistleblower policies, showcasing high transparency levels.
The financial metrics are also favorable, with a program expense ratio of approximately 72%, indicating that a significant portion of their funds directly supports their programs. Moreover, Mhub has demonstrated its commitment to equity and community engagement, achieving a Culture & Community Score of 98%, evidencing its responsiveness to constituent feedback and proactive efforts to implement strategies focused on equity.
Unfortunately, user reviews from GreatNonprofits are not available at this time, limiting the insight into individual experiences and sentiments towards the organization. However, the high scores reflect well on Mhub's operational standards and community impact.
This AI summary has been generated from information found on Charity Navigator.
Is Mhub legitimate?
Mhub is a legitimate nonprofit organization registered as a 501(c)(3) entity. Mhub 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: $1,021,242
Professional Fundraising Fees: $0
Other Salaries and Wages: $2,009,301
For more financial information, click here
Official website here: www.mhubchicago.com
What is the mission statement of Mhub?
Mhub, known as the nation's largest and fastest-growing innovation center for hardtech and manufacturing, is committed to fostering U.S. hardtech innovation and commercialization. They achieve this by promoting collaboration and offering a highly-resourced environment. This environment is designed to develop, fund, and accelerate clean energy, health, sustainability, and manufacturing entrepreneurship. Mhub's Hardtech Development Services, previously known as Mhub Product Development, expedite product development by linking innovative entrepreneurs and startups with established manufacturers and industry leaders.
Official website here: www.mhubchicago.com
Who is the CEO of Mhub?
Haven Allen is the Chairman of Mhub.
Official website here: www.mhubchicago.com
What is the revenue of Mhub?
Mhub's revenue in 2022 was $9,116,950.
Official website here: www.mhubchicago.com
Who are the executives of Mhub and what are their salaries?
The average compensation at Mhub during 2022 was $77,706. There are 39 employees at Mhub.
Here are 34 key members and their salaries:
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- Other: $3,940
Official website here: www.mhubchicago.com
Where can I find the form 990 for Mhub?
Mhub's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.mhubchicago.com
Learn more at the official website: www.mhubchicago.com
Mission Statement of Mhub
Mhub, the nation's largest and fastest-growing innovation center for hardtech and manufacturing, is dedicated to enabling U.S. hardtech innovation and commercialization. The organization achieves this by fostering collaboration and offering a hyper-resourced environment for developing, funding, and accelerating clean energy, health, sustainability, and manufacturing entrepreneurship. Mhub's primary focus is on hardtech development services, previously known as Mhub Product Development (MHUB PD). This service connects innovative and ambitious entrepreneurs and startups with established manufacturers and industry leaders, facilitating product development from the ideation stage to the final product. Mhub's mission is to drive hardtech innovation, ultimately contributing to the growth and competitiveness of the U.S. manufacturing sector.
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Impact
July, 2024
Mhub's impact lies in its ability to drive innovation and accelerate product development in the hardtech and manufacturing industry. By bringing together a diverse community of product designers, developers, entrepreneurs, engineers, and manufacturers, Mhub facilitates the creation of breakthrough products and helps bring them to market. This not only benefits the individuals and companies involved but also contributes to the growth and advancement of the hardtech sector. Mhub's focus on collaboration, accessibility, and resource-sharing helps fuel clean energy, health, sustainability, and manufacturing entrepreneurship, ultimately fostering economic development and driving technological progress in the United States.
This information is meant to be a general summary of Mhub. 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: -$95,221
- Program Service Revenue: $4,830,862
- Gross Receipts: $9,281,732
Assets and Liabilities:
- Total Assets: $9,378,153
- Total Liabilities: $4,389,540
- Net Assets: $4,988,613
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PRODUCT DEVELOPMENT SERVICES
Revenue
$2,102,979
MEMBERSHIP ASSESSMENTS
Revenue
$1,809,260
AI PROGRAM REVENUE
Revenue
$918,623
Organization Details
Founding Year
2013
Phone
(312) 248-8701Principal Officer
Haven Allen
Main Address
1623 W FULTON ST, CHICAGO, IL, 60612
Website
www.mhubchicago.comNTEE Category
Code: S30 - Community improvement
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