Milwaukee Institute Inc
- Assets
- $65.1k
- Revenue
- $176.0k
- Investments
- $0.0
- Employees
- 1
- Location
- Milwaukee, WI
- Founding
- 04/2008
- Data as of
- 03/2022
- EIN
- 26-0724304
Organization Overview
Milwaukee Institute Inc is located in Milwaukee, WI. The organization was established in 2008. According to its NTEE Classification (U20) the organization is classified as: General Science, under the broad grouping of Science & Technology and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Milwaukee Institute Inc 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 03/2022, Milwaukee Institute Inc generated $176.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (13.9%) each year. All expenses for the organization totaled $297.6k during the year ending 03/2022. As we would expect to see with falling revenues, expenses have declined by (11.7%) per year over the past 7 years. 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
5 LAKES INSTITUTE IS A NOT-FOR-PROFIT ORGANIZATION DEDICATED TO WORKING WITH LIKE-MINDED PARTNERS TO BUILD AND CONNECT THE GREAT LAKES REGION'S HIGH TECHNOLOGY ENTREPRENEURIAL ECONOMY AND CULTURE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
-DID EXTENSIVE WORK WITH THE BOARD OF DIRECTORS TO MAP OUT A 5 LAKES INSTITUTE VISION AND MULTI-YEAR STRATGIC PLAN TO INCREASE THE INSITUTE'S IMPACT ON THE REGION. -SUCCESSFULLY ORGANIZED TEN VIRTUAL PROGRAMS (UP FROM THREE IN FISCAL YEAR 2021) IN PARTNERSHIP WITH MIDWEST RESEARCH UNIVERSITY NETWORK (MRUN) -OUR VIRTUAL PROGRAMS ATTRACTED NEARLY 600 INVITATION-ONLY PARTICIPANTS, ALL STAKEHOLDERS FROM ACADEMIA, CORPORATIONS, VENTURE CAPITAL FIRMS AND GOVERNMENT -ENGAGED WITH STAKEHOLDERS FROM THREE VERTICALS: INDUSTRIAL TECH, HUMAN HEALTH, AND COMPUTING VERTICALS -SUPPORTED THE BLUEPRINT ACCELERATOR FOR MINORITY-LED STARTUPS -SUPPORTED THE EXECUTIVE DIRECTOR'S EFFORTS TO WRITE COLUMNS FOR THE MILWAUKEE JOURNAL SENTINEL ABOUT TECHNOLOGY AND INNOVATION IN THE MIDWEST/GREAT LAKES REGION -SUPPORTED THE EXECUTIVE DIRECTOR'S EFFORTS TO LAUNCH A NEW RADIO SHOW/PODCAST CALLED MIDWEST MOXIE THAT AIRS ON WUWM AND IS AVAILABLE ON PODCAST PLATFORMS. MIDWEST MOXIE HIGHLIGHTS THE REGION'S EMERGING AND SUCCESSFUL STARTUP FOUNDERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kathleen Gallagher Executive Di | Trustee | 40 | $87,400 |
John Byrnes Director, Ch | OfficerTrustee | 3 | $0 |
Walter Skipper Director, Se | OfficerTrustee | 3 | $0 |
David Vasko Director | Trustee | 1 | $0 |
Randall Kirk Director | Trustee | 1 | $0 |
Tim Honaker Director | Trustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $76,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $100,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $176,000 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $176,000 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $71,180 |
| 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. | $87,400 |
| Compensation of current officers, directors, key employees. | $13,110 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $2,622 |
| Other employee benefits | $0 |
| Payroll taxes | $7,204 |
| Fees for services: Management | $107,210 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,561 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $1,190 |
| Information technology | $7,971 |
| Royalties | $0 |
| Occupancy | $4,946 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $347 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,956 |
| All other expenses | $0 |
| Total functional expenses | $297,587 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $65,088 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $65,088 |
| Accounts payable and accrued expenses | $3,403 |
| 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 | $3,403 |
| Net assets without donor restrictions | $61,685 |
| 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 | $65,088 |
Grants Awarded
Over the last fiscal year, Milwaukee Institute Inc has awarded $564,240 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
YOUNG ENTERPRISE SOCIETY PURPOSE: EDUCATION | $182,120 |
YOUNG ENTERPRISE SOCIETY PURPOSE: EDUCATION | $182,120 |
GENR8TOR PURPOSE: EDUCATION | $100,000 |
GENR8TOR PURPOSE: EDUCATION | $100,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Milwaukee Institute Inc has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
Greater Green Bay Community Foundation Inc Green Bay, WI PURPOSE: EDUCATION PROGRAM SUPPORT | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Iit Research Institute Chicago, IL | $42,081,000 | $29,119,000 |
Science Olympiad Villa Park, IL | $7,416,864 | $1,456,157 |
Iqm Research Institute Ann Arbor, MI | $468,489 | $1,003,489 |
Global Country Of World Peace Maharishi Vedic City, IA | $101,670 | -$105,400 |
Milwaukee Institute Inc Milwaukee, WI | $65,088 | $176,000 |
Inscied Out Foundation Rochester, MN | $74,782 | $157,869 |
Michigan Science Teachers Association Okemos, MI | $0 | $0 |
International Society For Molecular Plant-Microbe Interactions Inc Eagan, MN | $637,891 | $194,555 |
American Pharmacists Association Academy Of Student Pharmacists Minneapolis, MN | $39,636 | $0 |
Wisconsin Society Of Science Teachers Cambridge, WI | $491,364 | $0 |
Serengeti Genesis Duluth, MN | $1,895 | $38,656 |
Illini Robotics Champaign, IL | $46,643 | $0 |