The Launch Place
- Assets
- $6.4m
- Revenue
- $1.8m
- Investments
- $4.9m
- Employees
- 4
- Location
- Danville, VA
- Founding
- 11/2005
- Data as of
- 06/2022
- EIN
- 20-2917301
Organization Overview
The Launch Place is located in Danville, VA. The organization was established in 2005. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, Launch Place employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Launch Place is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Launch Place generated $1.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.2% each year. All expenses for the organization totaled $1.1m during the year ending 06/2022. While expenses have increased by 0.5% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE LAUNCH PLACE (TLP), A VENTURE DEVELOPMENT ORGANIZATION LOCATED IN DANVILLE, VA AND IN THE RESEARCH TRIANGLE PARK, NC. THE LAUNCH PLACE INVESTS IN INNOVATIVE START-UPS IN VIRGINIA AND NORTH CAROLINA WITH A POTENTIAL TO CREATE ECONOMIC IMPACT IN THE DAN RIVER REGION FROM ITS PRE-SEED AND SEED INVESTMENT FUNDS. IN ADDITION TO THE INVESTMENTS, TLP PROVIDES BUSINESS CONSULTING, TRAINING, MENTORING AND OFFICE SPACE TO ENTREPRENEURS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE LAUNCH PLACE INVESTS IN INNOVATIVE START-UPS IN VIRGINIA AND NORTH CAROLINA WITH A POTENTIAL TO CREATE ECONOMIC IMPACT IN THE DAN RIVER REGION FROM ITS PRE-SEED AND SEED INVESTMENT FUNDS. IN ADDITION TO THE INVESTMENTS, TLP PROVIDES BUSINESS CONSULTING, TRAINING, MENTORING AND OFFICE SPACE TO ENTREPRENEURS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Greg Feldman Board Chair | OfficerTrustee | 1 | $0 |
Jan Davis Board Vice Chair | OfficerTrustee | 1 | $0 |
Gary Evans Director | Trustee | 1 | $0 |
Jonathan Horin Director | Trustee | 1 | $0 |
Marty Kaszubowski Director | Trustee | 1 | $0 |
Eva Doss President/ceo | OfficerTrustee | 60 | $179,108 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,605,167 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,605,167 |
| Total Program Service Revenue | $34,250 |
| Investment income | $103,077 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,752,354 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $179,108 |
| Compensation of current officers, directors, key employees. | $44,777 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $297,696 |
| Pension plan accruals and contributions | $11,111 |
| Other employee benefits | $40,967 |
| Payroll taxes | $29,408 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $16,483 |
| Fees for services: Accounting | $38,209 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $61,292 |
| Office expenses | $34,062 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $61,562 |
| Travel | $12,432 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,274 |
| Insurance | $22,714 |
| All other expenses | $38,568 |
| Total functional expenses | $1,053,561 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,377,351 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $28,750 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $166,928 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $11,761 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $4,861,194 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,000 |
| Total assets | $6,448,984 |
| Accounts payable and accrued expenses | $134,429 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $134,429 |
| Net assets without donor restrictions | $6,314,555 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $6,448,984 |