Overview
What is Hillman Accelerator Inc?
Hillman Accelerator Inc, based in Cincinnati, Ohio, was established in 2017 with the aim of supporting tech-enabled companies. The organization, known as Lightship Foundation, brings together influential leaders and business advisors from the tech sector to provide assistance with business modeling, marketing, fundraising, and capital resources. Lightship has achieved significant success by partnering with local, regional, and national companies to increase engagement, visibility, and potential sales channels for the companies in its cohort. The foundation's mission is to support early-stage companies led by underrepresented individuals, helping them secure seed funding for their developing companies. With a team of 12 employees, Lightship Foundation is making strides in contributing to the Ohio Third Frontier Diverse Business Development Program, providing employment opportunities, and fostering change in underrepresented communities in tech careers.
Official website here: www.light.foundation
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
Hillman Accelerator Inc has received a Two-Star out of Four Star rating from Charity Navigator, with an overall score of 60%. The organization demonstrates a strong commitment to governance with a fully independent board and effective policies regarding conflicts of interest. However, it falls short in several financial areas, including the lack of a full independent board size and poor financial statement transparency.
While the organization allocates a significant portion of its budget to programs, with a program expense ratio of 80.19%, it struggles with fundraising efficiency and working capital. The fundraising efficiency ratio is particularly low at $0.06, indicating challenges in generating revenue relative to fundraising costs. Additionally, with a working capital ratio of 0.22 years, the organization may face difficulties in meeting short-term obligations.
Despite some strengths in accountability, such as a whistleblower policy and document retention practices receiving low scores, these aspects highlight areas for improvement. The executive director's salary is notably high, which may raise concerns among stakeholders about financial management and resource allocation. Overall, while Hillman Accelerator Inc has positive elements, there are significant financial management issues that need to be addressed.
This AI summary has been generated from information found on Charity Navigator.
Is Hillman Accelerator Inc legitimate?
Hillman Accelerator Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Hillman Accelerator 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: $287,222
Professional Fundraising Fees: $0
Other Salaries and Wages: $718,307
For more financial information, click here
Official website here: www.light.foundation
What is the mission statement of Hillman Accelerator Inc?
Hillman Accelerator Inc's mission involves supporting early-stage companies led by underrepresented individuals, helping them secure seed funding for their developing businesses. Established in 2017, the organization brings together industry leaders and business advisors to provide assistance with business modeling, marketing, fundraising, and capital resources, all aimed at supporting business growth. Throughout the year, Hillman Accelerator Inc has made significant efforts to partner with local, regional, and national companies, increasing engagement and visibility for its cohort companies. The organization assists these companies in potential sales channels and business growth opportunities for scale, with the goal of contributing to diverse business development programs and providing employment opportunities in tech careers for underrepresented communities.
Official website here: www.light.foundation
Who is the CEO of Hillman Accelerator Inc?
Candice Matthews Brackeen is the Board Member of Hillman Accelerator Inc.
Official website here: www.light.foundation
What is the revenue of Hillman Accelerator Inc?
Hillman Accelerator Inc's revenue in 2022 was $2,251,630.
Official website here: www.light.foundation
Who are the executives of Hillman Accelerator Inc and what are their salaries?
The average compensation at Hillman Accelerator Inc during 2022 was $83,794. There are 12 employees and 70 volunteers at Hillman Accelerator Inc.
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $279,100
- Related: $0
- Other: $8,122
Official website here: www.light.foundation
Where can I find the form 990 for Hillman Accelerator Inc?
Hillman Accelerator Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.light.foundation
Learn more at the official website: www.light.foundation
Mission Statement of Hillman Accelerator Inc
Hillman Accelerator Inc, as a foundation, is committed to supporting early-stage companies led by underrepresented individuals by providing them with seed funding for their developing businesses. This mission is carried out by bringing together various leaders and business advisors within the tech ecosystem to offer assistance in business modeling, marketing, fundraising, and capital resources, thereby aiding in the growth of these companies. The foundation has made significant strides in partnering with local, regional, and national companies to increase engagement and visibility for the companies in its cohort, assisting them with potential sales channels and business growth opportunities. Hillman Accelerator Inc's companies are anticipated to contribute to the Ohio Third Frontier Diverse Business Development Program by raising capital, providing employment opportunities, and impacting underrepresented communities in tech careers.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
July, 2024
Hillman Accelerator Inc, operating under its Lightship Foundation arm, has been instrumental in providing crucial support for early-stage companies led by underrepresented individuals to secure essential seed funding for their developing ventures. Since its inception on July 10, 2017, Lightship has actively engaged a diverse group of leaders and business advisors in the tech ecosystem to offer assistance in business modeling, marketing strategies, fundraising, and access to capital resources.
The initiative has not only facilitated the growth of tech-enabled startups but has also forged partnerships with local, regional, and national companies to enhance the visibility and engagement of Lightship cohort companies. By opening up potential sales channels and business growth opportunities for these startups, Lightship is playing a pivotal role in contributing to the Ohio Third Frontier Diverse Business Development Program. Through these efforts, Lightship is not only raising capital and creating employment opportunities but is also driving positive change in underrepresented communities within the tech industry.
This information is meant to be a general summary of Hillman Accelerator 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: $603
- Program Service Revenue: $389,455
- Gross Receipts: $2,251,630
Assets and Liabilities:
- Total Assets: $859,679
- Total Liabilities: $496,441
- Net Assets: $363,238
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM REVENUE
Revenue
$389,455
Organization Details
Founding Year
2017
Phone
(513) 207-5261Principal Officer
Candice Matthews Brackeen
Main Address
2900 READING ROAD, CINCINNATI, OH, 45206
Website
www.light.foundationNTEE Category
Code: S30 - Community improvement
If you are a representative of Hillman Accelerator Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.