Cultivate
- Assets
- $21.0k
- Revenue
- $316.5k
- Investments
- $0.0
- Employees
- 6
- Location
- Grove City, OH
- Founding
- 06/2016
- Data as of
- 12/2022
- EIN
- 32-0488937
Organization Overview
Cultivate is located in Grove City, OH. The organization was established in 2016. According to its NTEE Classification (S43) the organization is classified as: Small Business Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Cultivate employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cultivate 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 12/2022, Cultivate generated $316.5k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 35.4% each year . All expenses for the organization totaled $309.5k during the year ending 12/2022. While expenses have increased by 36.9% 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
TO FOSTER ENTREPRENEURIAL GROWTH BY PROVIDING A WORK SPACE, TECHNOLOGY, AND PROFESSIONAL GUIDANCE FOR START-UP COMPANIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION ASSISTED 574 CLIENTS IN 2022. AS OF 12/31/22 THE INCUBATOR SPACES CONTAINED 204 CLIENTS WITH 1133 EMPLOYEES/SOLE PROPRIETORS.
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 |
|---|---|---|---|
Rick Hulse Chairman-Trustee | OfficerTrustee | 2 | $0 |
Matthew Yerkes Executive Director | OfficerTrustee | 25 | $0 |
Allen Houk Trustee | OfficerTrustee | 1 | $0 |
Lori Eisel Trustee | Trustee | 1 | $0 |
Gary Ross Trustee | Trustee | 1 | $0 |
Kristy Campbell Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $64,043 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $158,100 |
| All other contributions, gifts, grants, and similar amounts not included above | $94,373 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $316,516 |
| 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 | $316,516 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $96,710 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $7,835 |
| Fees for services: Management | $64,398 |
| Fees for services: Legal | $5 |
| Fees for services: Accounting | $1,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $25,595 |
| Office expenses | $7,903 |
| Information technology | $14,105 |
| Royalties | $0 |
| Occupancy | $83,525 |
| Travel | $156 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,803 |
| Interest | $377 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,461 |
| All other expenses | $0 |
| Total functional expenses | $309,470 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $18,355 |
| Savings and temporary cash investments | $2,600 |
| 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 | $20,955 |
| Accounts payable and accrued expenses | $11,142 |
| 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 | $11,142 |
| Net assets without donor restrictions | $9,813 |
| 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 | $20,955 |