Overview
What is Waco Entrepreneurial Ecosystem Collaborativeinc?
Waco Entrepreneurial Ecosystem Collaborativeinc, or Startup Waco as it's commonly known, is a Texas-based nonprofit organization situated in Waco, with a mission to foster innovation and entrepreneurship in Central Texas. Established through cross-sector partnerships, its primary goal is to uplift Waco as a hub for business innovation. To achieve this, Startup Waco operates a coworking accelerator space in downtown Waco and provides programming tailored to three groups of entrepreneurs: local business owners, high-growth startups, and students. With a team of seven dedicated individuals, they strive to empower entrepreneurs and innovators, helping them build and grow successful businesses, thereby contributing to the overall economic growth of the region.
Official website here: www.startupwaco.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Stars)
The Waco Entrepreneurial Ecosystem Collaborative has received a two-star rating from Charity Navigator, indicating a need for improvement. The overall score stands at 70%, reflecting a moderate level of accountability and financial management within the organization. Notably, all board members are independent, which contributes positively to governance practices.
However, there are significant concerns regarding transparency and documentation. The organization scored poorly in several areas, including the absence of financial statements and key policies such as a whistleblower policy and document retention policy. Additionally, the nonprofit has not posted its tax form on its website, which further detracts from its accountability score.
On a more positive note, the organization demonstrates a favorable liabilities to assets ratio of 14.77%, indicating financial stability, and a program expense ratio of 67.29%, which suggests that a significant portion of its expenses is directed towards its programs. Overall, while there are strengths in governance and financial ratios, the lack of essential documentation and policies presents important areas for improvement.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Waco Entrepreneurial Ecosystem Collaborativeinc?
100% of 10 reviewers on Facebook recommend Waco Entrepreneurial Ecosystem Collaborative. Here is a summary of their reviews:
Many users express deep appreciation for the organization, highlighting its critical role in fostering entrepreneurship in Waco. One reviewer described it as a "godsend," emphasizing the team’s capability in unlocking the city's entrepreneurial potential. The overall sentiment reflects a strong belief that the organization is essential for the local startup community's success.
The glowing reviews indicate a high level of satisfaction with the collaborative's initiatives and support. Participants feel optimistic about the resources and guidance available, which they believe are instrumental in helping entrepreneurs thrive. Trust in the organization appears unwavering, suggesting it truly delivers on its mission to enhance entrepreneurship in the area.
This AI summary has been generated from reviews found on Facebook.
Is Waco Entrepreneurial Ecosystem Collaborativeinc legitimate?
Waco Entrepreneurial Ecosystem Collaborativeinc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Waco Entrepreneurial Ecosystem Collaborativeinc 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: $123,311
Professional Fundraising Fees: $0
Other Salaries and Wages: $115,284
For more financial information, click here
Official website here: www.startupwaco.com
What is the mission statement of Waco Entrepreneurial Ecosystem Collaborativeinc?
The Waco Entrepreneurial Ecosystem Collaborativeinc, a Texas-based nonprofit organization, is driven by cross-sector collaborations with the aim of leading entrepreneurial support efforts. Their mission is to elevate their area as a hub for business innovation. They accomplish this by building the entrepreneurial ecosystem of Central Texas, encouraging a culture of innovation, and empowering entrepreneurs and innovators to establish and grow successful businesses. To achieve this goal, the organization operates a coworking accelerator space and delivers programming tailored to three main groups of entrepreneurs: local business owners, high-growth startups, and students.
Official website here: www.startupwaco.com
Who is the CEO of Waco Entrepreneurial Ecosystem Collaborativeinc?
Jon Passavant is the Board Chair of Waco Entrepreneurial Ecosystem Collaborativeinc. The CEO's salary of Waco Entrepreneurial Ecosystem Collaborativeinc is $123,311 and their total compensation is $142,093.
Official website here: www.startupwaco.com
What is the revenue of Waco Entrepreneurial Ecosystem Collaborativeinc?
Waco Entrepreneurial Ecosystem Collaborativeinc's revenue in 2022 was $1,333,284.
Official website here: www.startupwaco.com
Who are the executives of Waco Entrepreneurial Ecosystem Collaborativeinc and what are their salaries?
The average compensation at Waco Entrepreneurial Ecosystem Collaborativeinc during 2022 was $34,085. There are 7 employees and 185 volunteers at Waco Entrepreneurial Ecosystem Collaborativeinc.
Here are 14 key members and their salaries (Waco Entrepreneurial Ecosystem Collaborativeinc's CEO's salary is $123,311 and their total compensation is $142,093):
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- Compensation: $123,311
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- Other: $18,782
Official website here: www.startupwaco.com
Where can I find the form 990 for Waco Entrepreneurial Ecosystem Collaborativeinc?
Waco Entrepreneurial Ecosystem Collaborativeinc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.startupwaco.com
Learn more at the official website: www.startupwaco.com
Mission Statement of Waco Entrepreneurial Ecosystem Collaborativeinc
Waco Entrepreneurial Ecosystem Collaborativeinc, a Texas-based nonprofit organization, is driven by cross-sector partnerships with a mission to spearhead Waco's entrepreneurial support efforts. The organization aspires to elevate Waco as a hub for business innovation. By fostering a culture of innovation, Waco Entrepreneurial Ecosystem Collaborativeinc empowers local business owners, high-growth startups, and students to build and grow successful businesses within the entrepreneurial ecosystem of Central Texas. The nonprofit achieves this goal by operating a coworking accelerator space in downtown Waco and delivering programming tailored to these three groups of entrepreneurs.
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Impact
July, 2024
The impact of Waco Entrepreneurial Ecosystem Collaborativeinc (often referred to as Startup Waco) can be seen in the vibrant growth of the entrepreneurial ecosystem in Central Texas. By providing a collaborative space, programming, and support for local business owners, high-growth startups, and students, Startup Waco is empowering entrepreneurs and innovators to build and grow successful businesses. Through the fostering of a culture of innovation and the elevation of Waco as a hub for business innovation, Startup Waco is actively contributing to the economic development and overall community improvement of the city.
This information is meant to be a general summary of Waco Entrepreneurial Ecosystem Collaborativeinc. 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.
- Program Service Revenue: $98,376
- Gross Receipts: $1,379,205
Assets and Liabilities:
- Total Assets: $701,978
- Total Liabilities: $103,708
- Net Assets: $598,270
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
WORK SPACE RENTAL
Revenue
$98,376
Organization Details
Founding Year
2017
Phone
(254) 304-9179Principal Officer
Jon Passavant
Main Address
605 AUSTIN AVENUE, WACO, TX, 76701
Website
www.startupwaco.comNTEE Category
Code: S30 - Community improvement
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