Overview
What is Bounce Innovation Hub?
Bounce Innovation Hub is a dynamic nonprofit organization situated in Akron, Ohio, specifically at 526 S MAIN ST 609E. Their primary mission is to foster entrepreneurship and innovation, offering a wide range of services to individuals with innovative ideas. This includes an Entrepreneurial Service Provider (ESP) program, comprising a technology incubator and software accelerator. The incubator program provides affordable office, lab, and light manufacturing space, along with expert business counseling, mentoring services, and networking opportunities. On the other hand, the software accelerator program offers advice, technical assistance, coaching, and networking opportunities to early-stage software companies to help them develop and launch their first Minimum Viable Product. In 2022, Bounce served 43 incubator clients and 31 software accelerator clients. Overall, Bounce's goal is to catalyze entrepreneurship and innovation, providing connections, resources, and expertise to build a thriving community. Word count: 118
Official website here: www.bouncehub.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% (Three-Star out of Four Stars)
Bounce Innovation Hub has achieved an 81% rating from Charity Navigator, indicating a solid level of accountability and financial integrity. This score is based entirely on their accountability and finance metrics, where they excelled in areas such as having a fully independent board of directors and maintaining no material diversion of assets. Their commitment to transparency is further demonstrated through the presence of essential policies, including conflict of interest and whistleblower protections.
The organization showcases a strong program expense ratio of 78.12%, which suggests that a significant portion of their funding is directed towards their mission-related activities rather than administrative overhead. Additionally, their liabilities to assets ratio of 48.17% reflects a sound financial position, indicating that they are effectively managing their resources.
However, while their accountability and finance metrics are commendable, the overall rating does not provide insights into the effectiveness of their programs or their impact on the communities they serve. Prospective donors and supporters may want to seek further information regarding the outcomes of their initiatives to fully understand the organization's reach and effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Bounce Innovation Hub legitimate?
Bounce Innovation Hub is a legitimate nonprofit organization registered as a 501(c)(3) entity. Bounce Innovation Hub 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: $457,030
Professional Fundraising Fees: $0
Other Salaries and Wages: $847,609
For more financial information, click here
Official website here: www.bouncehub.org
What is the mission statement of Bounce Innovation Hub?
Bounce Innovation Hub's mission is to foster entrepreneurship and innovation by offering connections, resources, and expertise. This is done to create a vibrant community, where individuals with innovative ideas can bring their visions to life. The hub provides services and technical assistance to early-stage and small businesses through its Entrepreneurial Service Provider (ESP) program. This program includes a technology incubator and software accelerator, offering affordable office, lab, and manufacturing space, expert business counseling, mentoring services, networking opportunities, and technical assistance to help companies develop and launch their minimum viable products. In 2022, Bounce served 43 incubator clients and 31 software accelerator clients.
Official website here: www.bouncehub.org
Who is the CEO of Bounce Innovation Hub?
Jessica Sublett is the Board Chair of Bounce Innovation Hub. The CEO's salary of Bounce Innovation Hub is $291,875 and their total compensation is $300,229.
Official website here: www.bouncehub.org
What is the revenue of Bounce Innovation Hub?
Bounce Innovation Hub's revenue in 2022 was $3,200,814.
Official website here: www.bouncehub.org
Who are the executives of Bounce Innovation Hub and what are their salaries?
The average compensation at Bounce Innovation Hub during 2022 was $68,665. There are 19 employees and 10 volunteers at Bounce Innovation Hub.
Here are 10 key members and their salaries (Bounce Innovation Hub's CEO's salary is $291,875 and their total compensation is $300,229):
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $291,875
- Related: $0
- Other: $8,354
- Compensation: $151,000
- Related: $0
- Other: $5,800
Official website here: www.bouncehub.org
Where can I find the form 990 for Bounce Innovation Hub?
Bounce Innovation Hub's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.bouncehub.org
Learn more at the official website: www.bouncehub.org
Mission Statement of Bounce Innovation Hub
Bounce Innovation Hub, a catalyst for entrepreneurship and innovation, strives to foster a vibrant community by offering connections, resources, and expertise. Their primary mission is to provide services and technical assistance to early-stage and small businesses, aiding them in turning their visions into reality. This is achieved through their Entrepreneurial Service Provider (ESP) program, which comprises a technology incubator and software accelerator.
The technology incubator at Bounce Innovation Hub offers affordable office, lab, and light manufacturing space, alongside expert business counseling, mentoring services, and networking opportunities. This combination of physical space and supportive services provides an ideal environment for businesses to grow and develop their ideas. Meanwhile, the software accelerator program offers guidance, technical assistance, coaching, and networking opportunities to early-stage software companies, assisting them in developing and launching their minimum viable product. In 2022, Bounce Innovation Hub served 43 incubator clients and 31 software accelerator clients, demonstrating the effectiveness of their programs in supporting entrepreneurial ventures.
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
Bounce Innovation Hub's impact can be seen in its significant role in catalyzing entrepreneurship and innovation in Akron, Ohio. By providing a range of services and programs to individuals with a passion for innovation, Bounce is actively empowering entrepreneurs to bring their visions to life. Through their Entrepreneurial Service Provider (ESP) program, which includes a technology incubator and software accelerator, Bounce offers essential resources such as affordable office space, expert business counseling, mentoring services, and networking opportunities.
In 2022 alone, Bounce served 43 incubator clients and 31 software accelerator clients, demonstrating the tangible support they provide to early-stage businesses in the region. By nurturing and guiding these budding companies, Bounce contributes to the growth and success of the local entrepreneurial ecosystem. The hub's commitment to providing connections, resources, and expertise plays a vital role in building a vibrant community of innovative thinkers and problem solvers. In essence, Bounce Innovation Hub is a driving force for community improvement through its dedication to fostering entrepreneurship and innovation in Akron.
This information is meant to be a general summary of Bounce Innovation Hub. 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: $6,331
- Program Service Revenue: $1,080,368
- Gross Receipts: $3,210,333
Assets and Liabilities:
- Total Assets: $1,749,505
- Total Liabilities: $842,783
- Net Assets: $906,722
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.
INCUBATOR AND PDA PROG
Revenue
$1,080,368
Organization Details
Founding Year
2017
Phone
(330) 785-7403Principal Officer
Jessica Sublett
Main Address
526 S MAIN ST 609E, AKRON, OH, 44311
Website
www.bouncehub.orgNTEE Category
Code: S31 - Community improvement
If you are a representative of Bounce Innovation Hub 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.