Launchyourcity Inc
- Assets
- $44.5k
- Revenue
- $487.8k
- Investments
- $7.6k
- Employees
- 6
- Location
- Collierville, TN
- Founding
- 07/2009
- Data as of
- 12/2023
- EIN
- 26-3190220
Organization Overview
Launchyourcity Inc, operating under the name Start Co, is located in Collierville, TN. The organization was established in 2009. 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 12/2023, Start Co employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Start Co 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 12/2023, Start Co generated $487.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (6.0%) each year. All expenses for the organization totaled $705.4k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (2.7%) per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
LAUNCHYOURCITY SUPPORTS THE EARLIEST STAGES OF INNOVATION AND ENTREPRENEURSHIP IN MEMPHIS WITH DYNAMIC PROGRAMS THAT ARE DESIGNED TO HELP POTENTIAL CIVIC, SOCIAL, AND TECH-BASED ENTREPRENEURS AND INNOVATORS DEVELOP A BUSINESS MODEL AND TAKE THE FIRST ACTIONABLE STEPS OF STARTING A NEW BUSINESS OR PROGRAM. LAUNCHYOURCITY IS A PRACTITIONER OF INNOVATION DRIVEN ECONOMIC DEVELOPMENT ACCELERATING AND BROKERING TALENT, TECHNOLOGY AND CAPITAL LEVERAGING THE ECONOMIC ASSETS OF THE REGION TO CREATE COMMUNITIES WHERE MEANINGFUL JOBS, LIVEABLE COMMUNITIES, INCLUSIVE SOCIETIES, AND COLLABORATIVE GOVERNANCE INTERSECT FOR SUCCESS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ENTREPRENEURSHIP SUPPORT: SUPPORTING EARLY-STAGE START-UPS IN ALL AREAS OF BUSINESS DEVELOPMENT. ENTREPRENEURS ARE SCHOOLED IN DEVELOPING A BUSINESS MODEL THAT WILL ACHIEVE SUSTAINABILITY. THEY RECEIVE MENTORING, FINANCIAL COUNSELING AND OPPORTUNITIES TO COMPETE IN THE MARKETPLACE FOR INVESTOR FUNDING.
ECONOMIC DEVELOPMENT: LEVERAGING THE ECONOMIC ASSETS OF THE MEMPHIS REGION TO BUILD INNOVATIVE SOLUTIONS AND PROGRAMS TO CREATE MEANINGFUL JOBS, ECONOMIC OPPORTUNITY, AND MORE ADVANCED COMMUNITIES. WE WORK WITH CITY, STATE, AND FEDERAL GOVERNMENTS AS WELL AS CIVIC PARTNERS AND SUPPLY PROCESSES AND SUPPORT TO BUILD CIVIC INNOVATIONS AND SOLUTIONS THAT DRIVE ECONOMIC GROWTH FOR ALL CITIZENS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eric Mathews Ceo, President, Founder | OfficerTrustee | 40 | $100,528 |
Brad Silver Board Member, Treasurer | OfficerTrustee | 0 | $0 |
Gwin Scott Board Member | Trustee | 0 | $0 |
Tom Baker Board Member | Trustee | 0 | $0 |
Thomas Hussey Board Member | Trustee | 0 | $0 |
Charles Beech Board Member | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $34,712 |
| All other contributions, gifts, grants, and similar amounts not included above | $98,168 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $132,880 |
| Total Program Service Revenue | $353,665 |
| Investment income | $264 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $1,001 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $487,810 |
| 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. | $100,528 |
| Compensation of current officers, directors, key employees. | $33,509 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $374,872 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $20,734 |
| Payroll taxes | $36,626 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $17,502 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,205 |
| Advertising and promotion | $1,505 |
| Office expenses | $1,054 |
| Information technology | $6,979 |
| Royalties | $0 |
| Occupancy | $6,542 |
| Travel | $27,843 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $8,546 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $8,167 |
| All other expenses | $1,275 |
| Total functional expenses | $705,387 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,884 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $10,000 |
| 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 | $7,594 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $23,016 |
| Total assets | $44,494 |
| Accounts payable and accrued expenses | $192,346 |
| 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 | $120,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $150,812 |
| Total liabilities | $463,158 |
| Net assets without donor restrictions | -$418,664 |
| 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 | $44,494 |
Grants Awarded
Over the last fiscal year, Launchyourcity Inc has awarded $580,432 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
COMMUNITY SUCCESS INSTITUTE PURPOSE: ECOSYSTEM SUPPORT AND DEVELOPMENT | $250,000 |
CODECREW PURPOSE: ECOSYSTEM SUPPORT AND DEVELOPMENT | $330,432 |