Overview
What is Startingblock Madison Inc?
Startingblock Madison Inc, located at 821 E Washington Avenue 200, Madison, WI 53703, serves as an entrepreneurial hub and ecosystem, actively supporting local entrepreneurs. This nonprofit organization, with a team of 10 employees, launched an accelerator program for early-stage companies, nurturing 12 social impact cohort non-profit entrepreneurships. In addition to this, Startingblock Madison Inc continues to empower entrepreneurs through the Innovate 608 podcast. The mission of Startingblock Madison Inc is to facilitate meaningful intersections that foster entrepreneurial growth, drive innovation, and build a supportive startup community that gives back to its community.
Official website here: www.startingblockmadison.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement - Two-Star out of Four Star rating with an overall score of 73%. This rating indicates that Startingblock Madison Inc has strengths in several areas, particularly in board independence and financial management, but still faces significant challenges, particularly regarding transparency in financial reporting.
The organization has a strong independent board with full scores in both majority independent board members and independent board size. Additionally, it shows a commendable program expense ratio of 87.72%, which reflects a commitment to using funds primarily for its programs. However, the organization has received a low score in financial statements, indicating potential issues in reporting and transparency that could affect trust among donors and stakeholders.
Limitations include a lack of a whistleblower policy and insufficient documentation regarding tax forms on the organization's website. Additionally, the absence of certain governance policies, such as document retention and destruction, points to areas needing improvement to enhance accountability and overall operational integrity.
This AI summary has been generated from information found on Charity Navigator.
Is Startingblock Madison Inc legitimate?
Startingblock Madison Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Startingblock Madison 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: $106,873
Professional Fundraising Fees: $8,417
Other Salaries and Wages: $114,174
For more financial information, click here
Official website here: www.startingblockmadison.org
What is the mission statement of Startingblock Madison Inc?
Startingblock Madison Inc, as an entrepreneurial hub, aims to foster the success of local entrepreneurs by creating meaningful interactions. This organization facilitates the growth of startups, drives innovation, and builds a community that gives back. One of their initiatives is an accelerator program for early-stage companies, which has seen the graduation of 12 social impact cohort non-profit entrepreneurs. Furthermore, they continue their Innovate 608 podcast, further engaging with the startup community.
Official website here: www.startingblockmadison.org
What is the revenue of Startingblock Madison Inc?
Startingblock Madison Inc's revenue in 2023 was $1,136,624.
Official website here: www.startingblockmadison.org
Who are the executives of Startingblock Madison Inc and what are their salaries?
The average compensation at Startingblock Madison Inc during 2023 was $44,209. There are 5 employees and 192 volunteers at Startingblock Madison Inc.
Here are 17 key members and their salaries:
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- Compensation: $100,000
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- Other: $6,874
Official website here: www.startingblockmadison.org
Where can I find the form 990 for Startingblock Madison Inc?
Startingblock Madison Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.startingblockmadison.org
Learn more at the official website: www.startingblockmadison.org
Mission Statement of Startingblock Madison Inc
Startingblock Madison Inc, an entrepreneurial hub and ecosystem, is committed to fostering the success of local entrepreneurs. The organization's mission is threefold: firstly, it aims to create meaningful interactions that cultivate entrepreneurs. Secondly, it accelerates the growth of startups, driving innovation within the community. Lastly, Startingblock Madison Inc aspires to build a startup community that gives back. By doing so, it strives to nurture a thriving entrepreneurial landscape.
To achieve its mission, Startingblock Madison Inc has launched an accelerator program for early-stage companies. This program has proven to be successful, with 12 social impact cohort non-profit entrepreneurs graduating from it. Moreover, the organization continues to engage with the local entrepreneurial community through the Innovate 608 podcast. This podcast serves as a platform for sharing insights, experiences, and best practices within the startup ecosystem, further promoting innovation and learning.
In summary, Startingblock Madison Inc, with its mission to foster entrepreneurship, accelerate startup growth, and build a giving back-oriented community, plays a significant role in the local entrepreneurial landscape. Through its accelerator program and the Innovate 608 podcast, it provides opportunities for learning, networking, and growth, ultimately contributing to a thriving entrepreneurial ecosystem.
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Impact
July, 2024
Startingblock Madison Inc's impact can be seen in the success and growth of Madison's entrepreneurs. By providing a hub and ecosystem for entrepreneurs to thrive, Startingblock Madison Inc has played a significant role in accelerating startup growth in the city. Through initiatives like the accelerator program for early-stage companies and graduating 12 social impact cohort non-profit entrepreneurs, Startingblock Madison Inc is actively cultivating a startup community that gives back to the community. Additionally, their continuing efforts, such as the Innovate 608 podcast, further promote innovation and drive entrepreneurship in Madison. Overall, Startingblock Madison Inc is making a tangible impact on the entrepreneurial landscape of the city and contributing to community improvement.
This information is meant to be a general summary of Startingblock Madison 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 2023.
- Investment Income: $8,284
- Program Service Revenue: $635,340
- Gross Receipts: $1,136,624
Assets and Liabilities:
- Total Assets: $2,814,282
- Total Liabilities: $988,979
- Net Assets: $1,825,303
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$635,340
Organization Details
Founding Year
2013
Principal Officer
Scott Mosley
Website
www.startingblockmadison.orgNTEE Category
Code: S43 - Community improvement
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