Overview
What is Startup Virginia Inc?
Startup Virginia Inc, a nonprofit based in Richmond, Virginia, serves as a hub for both established businesses and high-potential startups in the region. Located at 1717 EAST CARY ST, Startup Virginia offers a dynamic workspace for high-potential companies and provides educational programming for the entire community. For its high-potential member startups, it offers co-working and networking opportunities, workshops, and support through membership and a network of over 150 mentors. In addition, Startup Virginia leverages its mentor and investor networks to empower individuals on various topics relevant to current issues, offering programs such as entrepreneurship certification, timely educational workshops, and networking opportunities. As a high-growth business incubator, Startup Virginia is dedicated to building a long-term, sustainable economy for Virginia by connecting its startup community to exceptional mentors and extensive programs in a dynamic workspace.
Official website here: www.startupvirginia.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Star rating, 72%)
Startup Virginia Inc has received a Two-Star rating from Charity Navigator, indicating that it requires improvement in its operational and governance practices. Its overall score is 72%, which reflects a solid Program Expense Ratio of 68.19%, suggesting that a significant portion of its expenditures is directed towards its programs. However, the organization has notable weaknesses in accountability, particularly due to missing policies such as a Conflict of Interest Policy, Whistleblower Policy, and Document Retention Policy, which all received a score of zero.
On a positive note, Startup Virginia Inc excels in its culture and community score, achieving an impressive 95%. The organization is backed by a fully independent board, which is a strong aspect of its governance structure. Additionally, it has demonstrated effective feedback collection and usage, scoring 100% in both categories, indicating a strong commitment to stakeholder engagement and responsiveness.
Despite its strengths, the missing governance policies raise concerns about transparency and accountability. Addressing these areas would not only enhance its score in the Accountability & Finance category but also potentially improve the overall trust and confidence of its supporters and stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Startup Virginia Inc legitimate?
Startup Virginia Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Startup Virginia 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $406,654
For more financial information, click here
Official website here: www.startupvirginia.org
What is the mission statement of Startup Virginia Inc?
Startup Virginia Inc, as a non-profit organization, is dedicated to fostering a long-term, sustainable economy by serving as a high-growth business incubator. It connects the startup community with exceptional mentors and offers extensive programs in a dynamic workspace. The mission of Startup Virginia Inc is to provide a front door to entrepreneurship and startups, offering a dynamic workspace for high-potential companies and educational programming for the entire community. It caterers to high-potential startups by providing co-working and networking opportunities, workshops, and support through membership and a network of over 150 mentors. Furthermore, Startup Virginia Inc leverages its mentor and investor networks to empower individuals by covering a range of topics relevant to current issues through programs such as entrepreneurship certification, timely educational workshops, and networking events.
Official website here: www.startupvirginia.org
Who is the CEO of Startup Virginia Inc?
Richard Wintsch is the Director of Startup Virginia Inc.
Official website here: www.startupvirginia.org
What is the revenue of Startup Virginia Inc?
Startup Virginia Inc's revenue in 2022 was $941,595.
Official website here: www.startupvirginia.org
Who are the executives of Startup Virginia Inc and what are their salaries?
The average compensation at Startup Virginia Inc during 2022 was $67,776. There are 6 employees and 100 volunteers at Startup Virginia Inc.
Here are 13 key members and their salaries:
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- Compensation: $163,311
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Official website here: www.startupvirginia.org
Where can I find the form 990 for Startup Virginia Inc?
Startup Virginia Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.startupvirginia.org
Learn more at the official website: www.startupvirginia.org
Mission Statement of Startup Virginia Inc
Startup Virginia Inc, a non-profit organization, is committed to establishing a long-term, sustainable economy in Virginia. Their mission is to serve as a bridge, connecting the local startup community with an array of exceptional mentors and comprehensive programs within a dynamic workspace. This non-profit incubator is dedicated to nurturing high-growth businesses, providing a supportive environment for both established companies and budding startups in the Richmond, VA region.
Within Startup Virginia Inc, high-potential startups are offered membership, providing them with co-working spaces, networking opportunities, and support through the guidance of over 150 mentors. For the broader community, the non-profit leverages its extensive mentor and investor networks to empower individuals by offering a variety of educational programs relevant to current issues. These programs encompass entrepreneurship certification, timely workshops, and networking connections, enabling the community to thrive and grow.
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Impact
July, 2024
Startup Virginia Inc has a significant impact on the Richmond, VA region by serving as a hub for entrepreneurship and innovation. It provides a dynamic workspace for high-potential companies and offers educational programs for the entire community. By connecting startups to mentors, workshops, and networking opportunities, Startup Virginia Inc empowers entrepreneurs to grow their businesses and contribute to the long-term, sustainable economy of Virginia. Through its community programming, the organization also addresses current issues and fosters connections among individuals in the startup ecosystem. Startup Virginia Inc's efforts contribute to the improvement and growth of the local entrepreneurial community, leading to economic development and innovation in the region.
This information is meant to be a general summary of Startup Virginia 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.
- Investment Income: $1,902
- Program Service Revenue: $385,694
- Gross Receipts: $941,595
Assets and Liabilities:
- Total Assets: $1,761,356
- Total Liabilities: $708,476
- Net Assets: $1,052,880
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MEMBERSHIP FEES
Revenue
$361,640
PROGRAM SERVICE REVENU
Revenue
$24,054
Organization Details
Founding Year
2016
Phone
(804) 404-5443Principal Officer
Richard Wintsch
Main Address
1717 EAST CARY ST, RICHMOND, VA, 23223
Website
www.startupvirginia.orgNTEE Category
Code: S43 - Community improvement
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