Overview
What is Model City Makerspace?
Model City Makerspace, also known as The Inventor Center, is a distinguished nonprofit organization situated in Kingsport, Tennessee. Their primary mission is to establish a premier learning and product development hub, equipping aspiring entrepreneurs with necessary tools and connections to stimulate product-driven innovation. By doing so, they inspire inventors not only locally but across the nation and global landscape, encouraging them to launch their ventures in Kingsport. With a dedicated team of three employees, Model City Makerspace is committed to fostering an inventive community that propels innovation and growth.
Official website here: www.theinventorcenter.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 43%
Model City Makerspace has received a low rating of 43%, which translates to a Zero-Star out of Four Star rating. The organization exhibits strengths in areas such as having a majority independent board and proper documentation of board meeting minutes. However, significant concerns arise from the absence of critical policies like Whistleblower and Document Retention, which negatively impact their overall accountability and financial transparency.
User feedback from Great Nonprofits highlights a positive experience for members, particularly noting the helpfulness of the staff and the variety of tools available for use. The ongoing classes and programs have also been well received, reflecting the organization’s commitment to supporting its community through hands-on learning experiences.
Despite the strong user reviews, the financial metrics show that only 6.63% of expenses are directed towards programs, raising questions about the effectiveness and sustainability of their operations. This discrepancy between user satisfaction and financial health indicates potential areas for improvement that could help enhance Model City Makerspace's overall impact and governance.
This AI summary has been generated from information found on Charity Navigator and Great Nonprofits.
Is Model City Makerspace legitimate?
Model City Makerspace is a legitimate nonprofit organization registered as a 501(c)(3) entity. Model City Makerspace 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: $19,090
For more financial information, click here
Official website here: www.theinventorcenter.com
What is the mission statement of Model City Makerspace?
Model City Makerspace aims to establish a renowned learning and product development center, encouraging entrepreneurship worldwide. By offering essential tools and networking opportunities, this organization inspires inventors from various regions, including the nation and beyond, to initiate their ventures. The ultimate goal is to foster a community of innovators, promoting product-centered enterprises globally.
Official website here: www.theinventorcenter.com
Who is the CEO of Model City Makerspace?
Lucy Flemming is the City Liaison of Model City Makerspace.
Official website here: www.theinventorcenter.com
What is the revenue of Model City Makerspace?
Model City Makerspace's revenue in 2023 was $57,919.
Official website here: www.theinventorcenter.com
Who are the executives of Model City Makerspace and what are their salaries?
The average compensation at Model City Makerspace during 2023 was $6,363. There are 3 employees and 30 volunteers at Model City Makerspace.
Here are 9 key members and their salaries:
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Official website here: www.theinventorcenter.com
Where can I find the form 990 for Model City Makerspace?
Model City Makerspace's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.theinventorcenter.com
Learn more at the official website: www.theinventorcenter.com
Mission Statement of Model City Makerspace
Model City Makerspace is committed to establishing a renowned learning and development center, fostering an environment that encourages product-centered entrepreneurship. By providing essential tools and networking opportunities, this organization aims to inspire inventors from various regions, nations, and even the world, motivating them to launch their businesses in Kingsport. Model City Makerspace serves as a catalyst for innovation, inspiring individuals who share a passion for turning ideas into reality.
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Impact
August, 2024
Model City Makerspace's impact lies in its mission to create a world-class center for learning and product development. By providing the tools and networks needed to propel product-centered entrepreneurship, this organization inspires inventors throughout the region, nation, and world to start their businesses in Kingsport. Through its activities and initiatives, Model City Makerspace contributes to fostering innovation, supporting local entrepreneurs, and positioning Kingsport as a hub for aspiring inventors and product developers.
This information is meant to be a general summary of Model City Makerspace. 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.
- Program Service Revenue: $14,531
- Gross Receipts: $57,919
Assets and Liabilities:
- Total Assets: $291,727
- Total Liabilities: $749
- Net Assets: $290,978
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
WORKSHOP & CLASS INCOME
Revenue
$10,823
FABRIC SALES
Revenue
$3,708
Organization Details
Principal Officer
Lucy Flemming
Main Address
118 SHELBY ST, KINGSPORT, TN, 37660
Website
www.theinventorcenter.comNTEE Category
Code: U99 - Science research
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