Overview
What is Generator Inc?
Generator Inc is a nonprofit organization situated in Burlington, Vermont. With a team of 34 individuals, it serves as an artistic studio, classroom, and business incubator, intertwining art, science, and technology. The organization offers a variety of tools, expertise, and opportunities for the entire community, empowering them to create, collaborate, and actualize their ideas. Generator caters to youth through STEM/STEAM and work-based learning programs across Vermont, while providing hands-on, experiential education for adults of all ages. Membership includes access to shared workshops featuring wood, metal, jewelry, rapid prototyping, sewing, electronics, and a computer lab with design software. Additionally, Generator has undertaken outreach initiatives such as a "Maker in Residence" program and a speaker series to inspire and connect with the community at large. By fostering an environment that encourages innovation and creativity, Generator aims to support local middle and high schools in implementing STEM-based curricula and hands-on instruction through project-based learning.
Official website here: www.generatorvt.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Star rating, 67%). This rating indicates that Generator Inc has significant room for improvement in its overall operations and financial management. While the organization demonstrates a strong commitment to board independence and has established several key policies, the lack of financial statements raises concerns about transparency and accountability.
The organization benefits from a fully independent board, achieving perfect scores in categories regarding board independence and conflict of interest policies. Additionally, it has shown responsible asset management with no material diversion of assets. However, its program expense ratio indicates that only a portion of its expenditures is directed towards its programs, suggesting potential inefficiencies in fund utilization.
While there are notable strengths in governance practices, the absence of financial statements significantly detracts from its overall score. This limitation may hinder potential donors from fully assessing the organization's financial health and effectiveness in fulfilling its mission. Enhancing transparency and improving financial reporting could help Generator Inc achieve higher ratings in the future.
This AI summary has been generated from information found on Charity Navigator.
Is Generator Inc legitimate?
Generator Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Generator 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: $113,960
Professional Fundraising Fees: $0
Other Salaries and Wages: $455,810
For more financial information, click here
Official website here: www.generatorvt.com
What is the mission statement of Generator Inc?
Generator Inc serves as a fusion of an artist studio, classroom, and business incubator, bridging art, science, and technology. Their mission is to equip their community with the necessary tools, expertise, education, and opportunities, enabling them to bring their ideas to life through creation and collaboration. Generator offers youth STEM/STEAM and work-based learning programs, hands-on experiential education for adults of all ages, and membership for shared workshops including wood, metal, jewelry, rapid prototyping, sewing, electronics, and a computer lab with design software. Their primary objective is to empower everyone in the community to transform their concepts into reality.
Official website here: www.generatorvt.com
What is the revenue of Generator Inc?
Generator Inc's revenue in 2023 was $1,032,196.
Official website here: www.generatorvt.com
Who are the executives of Generator Inc and what are their salaries?
The average compensation at Generator Inc during 2023 was $16,279. There are 35 employees and 25 volunteers at Generator Inc.
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- Compensation: $76,206
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- Other: $7,091
Official website here: www.generatorvt.com
Where can I find the form 990 for Generator Inc?
Generator Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.generatorvt.com
Learn more at the official website: www.generatorvt.com
Mission Statement of Generator Inc
Generator Inc, a fusion of an artist studio, classroom, and business incubator, operates at the junction of art, science, and technology. Their mission is to equip and empower the community by providing tools, expertise, education, and opportunities, enabling individuals to create, collaborate, and bring their ideas to life. Generator Inc offers youth STEM/STEAM and work-based learning programs across Vermont, hands-on, experiential education for adults of all ages, and shared workshop memberships featuring various tools such as woodworking, metalworking, jewelry-making, rapid prototyping, sewing, electronics, and a computer lab equipped with design software.
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Impact
July, 2024
Generator Inc's impact is seen through its provision of tools, expertise, education, and opportunities at the intersection of art, science, and technology. By offering accessible space and resources to over 200 educators, makers, artists, and entrepreneurs, Generator Inc empowers its community members to bring their ideas to life. Through various programs like youth STEM/STEAM initiatives, work-based learning programs, and hands-on education for adults, Generator Inc fosters creativity and innovation within the community. Additionally, outreach efforts such as the "Maker in Residence" program and the "Big Maker" speaker series further inspire collaboration and creativity. Generator Inc's work with local schools to support STEM-based curriculum and project-based learning demonstrates its commitment to advancing education and skills development in the community. Through its multifaceted approach, Generator Inc contributes positively to the community by creating opportunities for learning, collaboration, and innovation.
This information is meant to be a general summary of Generator 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: $4,819
- Program Service Revenue: $375,571
- Gross Receipts: $1,032,196
Assets and Liabilities:
- Total Assets: $1,255,929
- Total Liabilities: $33,900
- Net Assets: $1,222,029
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MONTHLY PROGRAM FEES
Revenue
$165,656
PROGRAM REVENUE
Revenue
$143,248
FACILITY FEES
Revenue
$66,667
Organization Details
Founding Year
2013
Principal Officer
Megan Hammond
Website
www.generatorvt.comNTEE Category
Code: S20 - Community improvement
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