Jumpstart Inc is located in Cleveland, OH. The organization was established in 1983. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, Jumpstart Inc employed 98 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Jumpstart 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 06/2022, Jumpstart Inc generated $21.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.5% each year. All expenses for the organization totaled $21.6m during the year ending 06/2022. While expenses have increased by 8.0% 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.
Since 2018, Jumpstart Inc has awarded 242 individual grants totaling $13,566,678. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ACCELERATE THE PROGRESS OF HIGH POTENTIAL, EARLY-STAGE BUSINESSES, IMPROVE SUCCESS IN ACHIEVING GOALS & RAISING CAPITAL RESULTING IN JOB CREATION & GROWTH IN NORTHERN OHIO.
Describe the Organization's Program Activity:
ENTREPRENEURIAL SERVICES AND INVESTING:JUMPSTART INC. CONDUCTS ITS ECONOMIC REVITALIZATION PROGRAMS BY FUNCTIONING AS A REGIONAL NONPROFIT VENTURE DEVELOPMENT ENTITY WHICH SUPPORTS STARTUPS AND HIGH POTENTIAL SMALL BUSINESSES WHO HAVE THE POTENTIAL TO ECONOMICALLY TRANSFORM COMMUNITIES.AS THE PRIMARY ENTREPRENEURIAL ECONOMIC REVITALIZATION PROGRAM JUMPSTART INC. ENCOURAGES THE CREATION OF NEW EMPLOYMENT OPPORTUNITIES IN NORTHERN OHIO THROUGH ACTIVITIES SUPPORTING THE LAUNCH AND GROWTH OF COMPANIES WITH HIGH POTENTIAL FOR PROVIDING EMPLOYMENT OPPORTUNITIES AND THEREBY CONTRIBUTING TO THE ALLEVIATION OF ECONOMIC DISTRESS IN NORTHERN OHIO, WHICH HAS EXPERIENCED ECONOMIC DECLINE AND COMMUNITY DETERIORATION, AND ENHANCING ITS ECONOMIC REVITALIZATION.JUMPSTART CONDUCTS INVESTMENT ACTIVITIES TO SUPPLEMENT STATE AND LOCAL GOVERNMENT ECONOMIC AND JOB DEVELOPMENT INVESTMENT AND OTHER PROGRAMS DIRECTED AT ENCOURAGING THE INITIATION OF GROWTH, MATURATION AND EXPANSION OF SMALL BUSINESSES WITH A POTENTIAL FOR PROVIDING ENHANCED EMPLOYMENT OPPORTUNITIES AND THEREBY CONTRIBUTING TO AN ECONOMIC REVITALIZATION OF NORTHERN OHIO. JUMPSTART OFTEN BUNDLES GUIDANCE FROM EXPERIENCED VENTURE PARTNERS WITH ITS SEED INVESTMENT CAPITAL. EARLY-STAGE INVESTMENT FROM JUMPSTART ALLOWS THESE INNOVATIVE COMPANIES TO COMPLETE PRODUCT PROTOTYPES, CONDUCT EARLY MARKETING CAMPAIGNS, AND ADD KEY MEMBERS. SIMILARLY, THE STRATEGIC AND OPERATIONAL GUIDANCE FROM VENTURE PARTNERS ENABLES INNOVATION-ORIENTED ENTREPRENEURS TO HIT KEY GROWTH MILESTONES, ADVANCE THROUGH STAGES OF THE BUSINESS, AND ATTRACT FOLLOW-ON FUNDING. THROUGH FISCAL YEAR 2022, JUMPSTART HAS INVESTED $78M IN 154 PORTFOLIO COMPANIES WHOSE BUSINESS ACTIVITIES WERE DETERMINED TO BE CONSISTENT WITH THE GOALS OF THE ECONOMIC REVITALIZATION PROGRAM. WITH REGARD TO ACCELERATING GROWTH, CLIENT AND PORTFOLIO COMPANIES RECEIVE INTENSIVE TECHNICAL SUPPORT FROM THE JUMPSTART TEAM. VENTURE PARTNERS AND MENTORS ASSIGNED TO A CLIENT COMPANY PROVIDE GUIDANCE TO HELP ENSURE THAT KEY MILESTONES ARE MET. JUMPSTART ADVISORS HAVE:1) CONNECTED JUMPSTART'S CLIENT AND PORTFOLIO COMPANIES WITH HUNDREDS OF RESOURCES INCLUDING SUBJECT MATTER EXPERTS, BOARD MEMBERS, MANAGEMENT TEAM MEMBERS, AND POTENTIAL CUSTOMERS.2) ENABLED JUMPSTART CLIENT AND PORTFOLIO COMPANIES T0 MEET INDIVIDUAL MILESTONES, INCLUDING: FINALIZING INTELLECTUAL PROPERTY, SECURING FOLLOW-ON CAPITAL, BUILDING INTERNAL SYSTEMS AND DEVELOPING STRATEGIC PARTNER AND CLIENT RELATIONSHIPS.
OUTREACH AND EDUCATION:THIS PROGRAM IS A SIGNIFICANT AND CRITICAL SEGMENT OF JUMPSTART'S OVERALL ECONOMIC REVITALIZATION PROGRAMS. THE JUMPSTART OUTREACH AND EDUCATION PROGRAM'S CONTINUOUS PRESENTATION OF NETWORKING EVENTS, SEMINARS AND PUBLISHED ARTICLES BOTH IN TRADITIONAL AND ELECTRONIC MEDIA, COMBINE TO BUILD A GREATER APPRECIATION OF THE IMPORTANCE OF ENTREPRENEURSHIP TO THE NORTHERN OHIO REGIONAL ECONOMY.THE ACTIVITIES OF OUTREACH AND EDUCATION ARE DIRECTED TO SUPPORTING NETWORKS OF INVESTORS, ADVISORS AND PROFESSIONAL SERVICE FIRMS IN ORDER TO ENCOURAGE AN INCREASE IN THE NUMBER OF SUCCESSFUL HIGH-POTENTIAL ENTREPRENEURIAL VENTURES IN NORTHERN OHIO AND THEREBY ENHANCE THE ECONOMIC REVITALIZATION OF THE REGION.THE JUMPSTART OUTREACH AND EDUCATION PROGRAM'S MEDIA AND EVENT PRESENTATIONS CONTINUALLY INFORM AND EDUCATE NORTHERN OHIO'S ENTREPRENEURS, GIVING VISIBILITY TO THE SUCCESS OF ENTREPRENEURIAL VENTURES AND PROVIDING SUPPORT TO ENABLE A THRIVING ENTREPRENEURIAL COMMUNITY. FROM 7/1/21 THROUGH 06/30/22, THE OUTREACH AND EDUCATION PROGRAM: 1) COMMUNICATED WITH MORE THAN 45,065 EMAIL SUBSCRIBERS AND MORE THAN 21,400 SOCIAL MEDIA FOLLOWERS, HIGHLIGHTING ENTREPRENEURIAL SUCCESSES AS WELL AS EVENTS FOR NETWORKING AND LEARNING.2) ACHIEVED 1,449 TOTAL MEDIA MENTIONS HIGHLIGHTING CLIENT SUCCESS STORIES AND SHARING VALUABLE INFORMATION SO REGIONAL ENTERPRENEURS CAN ACCESS THE CAPITAL, SERVICES AND CONNECTIONS THEY NEED TO GROW. THESE STORIES REACHED AUDIENCES THROUGHOUT THE COUNTRY AND HIGHLIGHTED CLIENT SUCCESS STORIES.3) HOSTED 10 IN PERSON AND 16 VIRTUAL EVENTS EMPOWERING ENTREPRENEURS TO BUILD CRITICAL RESOURCE CONNECTIONS AND INCREASE THEIR KNOWLEDGE AND EXPERTISE IN SUBJECT MATTER NECESSARY TO STARTING AND GROWING AN EARLY-STAGE VENTURE OR SUCCESSFUL BUSINESS.TO ENHANCE THE COVERAGE OF THIS SERIES MANY OF THESE EVENTS AND CONVERSATIONS ARE RECORDED AND MADE AVAILABLE AS PODCASTS, VIDEO SPOTLIGHTS AND OTHER CONTENT. THROUGH 06/30/22 THERE HAVE BEEN MORE THAN 21,600 PODCAST DOWNLOADS FROM THE JUMPSTART WEBSITE AND MORE THAN 100,680 VIDEO VIEWS ON JUMPSTART'S YOUTUBE CHANNEL. OVERALL, THERE WERE MORE THAN 119,280 UNIQUE VISITORS TO THE JUMPSTART WEBSITE IN FISCAL YEAR 2022.
NETWORK ADVISORS & ECONOMIC INCLUSION:THIS PROGRAM IS AN ESSENTIAL COMPONENTOF THE ECONOMIC REVITALIZATION PROGRAMS THAT PROVIDES THE INITIAL CONTACT AND IMPETUS TO THE DEVELOPMENT OF SEED IDEAS. THESE INDIVIDUALS PROVIDE EDUCATION AND INFORMATION TO INDIVIDUALS CONCERNING THE DEVELOPMENT AND OPERATION OF SMALL BUSINESSES IN NORTHERN OHIO FOR THE PURPOSE OF ENCOURAGING THE INITIATION, EXPANSION, GROWTH, AND MATURATION OF BOTH NEW AND EXISTING SMALL BUSINESS WHICH CAN PROVIDE EMPLOYMENT OPPORTUNITIES AND THEREBY AID IN ALLEVIATING UNEMPLOYMENT, COMMUNITY DETERIORATION AND ECONOMIC DISTRESS IN NORTHERN OHIO AND ENHANCING THE ECONOMIC REVITALIZATION OF THE AREA. NETWORK ADVISORS COMPRISE THE PROGRAM THAT CONCENTRATES ON ASSISTING TECHNOLOGY BASED NASCENT COMPANIES AND SMALL BUSINESSES WITH GROWTH INTEREST AND POTENTIAL. JUMPSTART'S STAFF, MENTORS AND NETWORK OF ADVISORS GUIDE NORTHERN OHIO'S HIGH POTENTIAL ENTREPRENEURS, ASSISTING FOUNDERS IN CREATING AND ARTICULATING HIGH GROWTH STRATEGIC AND OPERATIONAL PLANS, ACCESSING INVESTMENT FUNDS AND MOVING THEIR BUSINESSES TOWARD KEY MILESTONES. NETWORK ADVISORS, MENTORS AND ENTREPRENEURS-IN-RESIDENCE ARE SUCCESSFUL SERIAL ENTREPRENEURS, SEASONED INVESTORS, INDUSTRY EXPERTS AND/OR FORMER CEOS, WITH SIGNIFICANT EXPERIENCE. JUMPSTART'S ADVISORS HAVE A SPECIAL FOCUS ON SUPPORTING WOMEN AND MINORITY ENTREPRENEURS WORKING IN THE HIGHEST GROWTH INDUSTRIES. THE OVERALL ADVISORY PROGRAM IS A VITAL ASPECT IN THE GOAL HELPING TO REVITALIZE THE ECONOMIC ENVIRONMENT OF NORTHERN OHIO. JUMPSTART BELIEVES THAT THE AVAILABILITY OF EXPERIENCED ENTREPRENEURS, INVESTORS, INDUSTRY LEADERS AND EXECUTIVES TO STARTUP COMPANIES IS CRITICAL TO SUCCESS. GUIDANCE OF EARLY-STAGE ENTREPRENEURIAL ENDEAVORS PROVIDES INSIGHT, KNOWLEDGE AND GENERALLY BROADENS THE VISION OF THE ENTREPRENEUR. ECONOMIC INCLUSION IS AT THE FOUNDATION AND CORE OF HOW JUMPSTART CONDUCTS BUSINESS, AS THIS GENUINE COMMITMENT ALLOWS JUMPSTART TO REALIZE THE RICH DIVERSITY OF TALENT AND PROMISE THAT EXTENDS THROUGHOUT NORTHERN OHIO. 36 PERCENT OF JUMPSTART'S BOARD OF DIRECTORS ARE WOMEN, AND 42 PERCENT ARE PEOPLE OF COLOR. MEANWHILE, 63 PERCENT OF JUMPSTART'S STAFF ARE WOMEN, WHILE NEARLY 47 PERCENT ARE PEOPLE OF COLOR.ADDITIONALLY, FROM 7/1/21 6/30/22, 49 PERCENT OF THE COMPANIES SERVED BY JUMPSTART WERE OWNED/LED BY PEOPLE OF COLOR (BLACK OR LATINO/HISPANIC AND 46 PERCENT WERE WOMAN OWNED/LED. WE BELIEVE IN ACCELERATING THE GROWTH OF BLACK, LATINO AND WOMEN-OWNED BUSINESSES BECAUSE IT IS A CRITICAL COMPONENT OF BUILDING AND SUSTAINING A HEALTHY ECONOMY. THESE FIRMS HOLD GREAT PROMISE FOR THE REGION, AS STATISTICALLY, MINORITY BUSINESSES TEND TO HIRE MINORITY WORKERS AT MORE THAN TWICE THE RATE OF NON-MINORITY FIRMS. THE CHALLENGE, HOWEVER, IS TO GROW THE TYPES OF BUSINESSES THAT CAN EMPLOY MUCH LARGER NUMBERS. THERE IS A CRITICAL GAP IN FUNDING AND SUPPORT FOR EARLY-STAGE, MINORITY-OWNED, HIGH POTENTIAL BUSINESSES THAT COULD BECOME LARGE COMPANIES WHICH CREATE JOBS, WEALTH AND PROSPERITY. THROUGH ECONOMIC INCLUSION INITIATIVES, JUMPSTART PROVIDES ASSISTANCE TAILORED TO THE SPECIFIC NEEDS OF THESE HISTORICALLY UNDERSERVED COMMUNITIES TO GUIDE HIGH IMPACT MINORITY AND WOMEN OWNED BUSINESSES SEEKING TO RAISE CAPITAL FROM PRIVATE INVESTORS IN ORDER TO BECOME LARGER SCALE NATIONAL AND INTERNATIONAL FIRMS. ADVISORS ALSO ASSIST TARGETED BUSINESSES SITUATED IN THE URBAN CENTERS OF NORTHERN OHIO, WHOSE BUSINESSES DIRECTLY AFFECT MINORITY POPULATIONS. BY PROVIDING INTENSIVE HANDS-ON GUIDANCE AND STRATEGIC PLANNING, THESE ADVISORS ENABLE ENTREPRENEURS TO ACCESS INVESTMENT FUNDS, AND MOVE THEIR BUSINESSES TOWARD CRITICAL MILESTONES. JUMPSTART EMBEDS ITS ECONOMIC INCLUSION PROGRAMMING ACROSS ALL OF ITS ACTIVITIES. SPECIFIC EXAMPLES INCLUDE:1) THE JUMPSTART FOCUS FUND, A $10 MILLION VENTURE CAPTIAL FUND SPECIFICALLY DEDICATED TO SUPPORTING FEMALE AND/OR MINORITY LED STARTUPS ACROSS OHIO.2) THE SMALL BUSINESS IMPACT PROGRAM, WHICH PROVIDES A DIVERSE GROUP OF TRADITIONALLY UNDERREPRESENTED SMALL BUSINESS OWNERS WITH ONE-ON-ONE BUSINESS ASSISTANCE, GRANT CAPITAL AND CONNECTIONS TO VALUABLE COMMUNITY RESOURCES.3) PITCH CYPHER, A PITCH EVENT CONNECTING EARLY-STAGE TECH FOUNDERS-OF-COLOR WITH CRITICAL RESOURCES INCLUDING CAPITAL AND HIGH IMPACT TECHNICAL SERVICES.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Ray T Leach Chief Executive Officer | OfficerTrustee | 63 | $485,596 |
Jerold J Frantz Chief Investment & Service | Officer | 47 | $299,585 |
Karen C Adame Chief Financial Officer | Officer | 47 | $242,033 |
Teleange Thomas Chief Operating & Relationship Officer | Officer | 47 | $233,062 |
A Lamont Mackley Chief Inclusion & Outreach | Officer | 47 | $223,990 |
Matthew W Miller Sr Venture Partner | 47 | $218,738 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Ark Group Llc Consulting | 6/29/22 | $146,665 |
Albert Green Consulting | 6/29/22 | $135,902 |
Ethan Cohen Consulting | 6/29/22 | $133,950 |
Wca Ci2 Llc Consulting | 6/29/22 | $117,895 |
Thompson Hine Legal & Advisory Services | 6/29/22 | $109,931 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $7,888,277 |
All other contributions, gifts, grants, and similar amounts not included above | $3,933,476 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $11,821,753 |
Total Program Service Revenue | $2,210,465 |
Investment income | $746,498 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $6,732,397 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $21,511,113 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $2,132,630 |
Grants and other assistance to domestic individuals. | $91,115 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $1,701,416 |
Compensation of current officers, directors, key employees. | $493,411 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $6,675,624 |
Pension plan accruals and contributions | $256,053 |
Other employee benefits | $1,494,133 |
Payroll taxes | $571,591 |
Fees for services: Management | $0 |
Fees for services: Legal | $66,542 |
Fees for services: Accounting | $89,942 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $224,168 |
Fees for services: Other | $1,525,424 |
Advertising and promotion | $368,781 |
Office expenses | $896,146 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $550,905 |
Travel | $134,840 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $111,836 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $54,648 |
Insurance | $73,752 |
All other expenses | $0 |
Total functional expenses | $21,635,652 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $2,485 |
Savings and temporary cash investments | $5,411,512 |
Pledges and grants receivable | $2,576,087 |
Accounts receivable, net | $5,378,101 |
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 | $383,772 |
Net Land, buildings, and equipment | $782,414 |
Investments—publicly traded securities | $111,270 |
Investments—other securities | $0 |
Investments—program-related | $41,898,189 |
Intangible assets | $0 |
Other assets | $25,812,877 |
Total assets | $82,356,707 |
Accounts payable and accrued expenses | $4,889,369 |
Grants payable | $0 |
Deferred revenue | $0 |
Tax-exempt bond liabilities | $0 |
Escrow or custodial account liability | $95,415 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Secured mortgages and notes payable | $8,672,202 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $0 |
Total liabilities | $13,656,986 |
Net assets without donor restrictions | $64,416,053 |
Net assets with donor restrictions | $4,283,668 |
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 | $82,356,707 |
Over the last fiscal year, Jumpstart Inc has awarded $2,036,530 in support to 23 organizations.
Grant Recipient | Amount |
---|---|
Cleveland, OH PURPOSE: ECONOMIC DEVELOPMENT | $1,000,000 |
Cleveland, OH PURPOSE: ECONOMIC DEVELOPMENT | $295,000 |
Columbus, OH PURPOSE: ECONOMIC DEVELOPMENT | $146,450 |
Cleveland, OH PURPOSE: ECONOMIC DEVELOPMENT | $78,000 |
Brookpark, OH PURPOSE: ECONOMIC DEVELOPMENT | $60,000 |
Toledo, OH PURPOSE: ECONOMIC DEVELOPMENT | $45,000 |
Over the last fiscal year, we have identified 10 grants that Jumpstart Inc has recieved totaling $2,326,458.
Awarding Organization | Amount |
---|---|
Cleveland Foundation Cleveland, OH PURPOSE: CLEVELAND INNOVATION PROJECT'S (CIP) CAPITAL INITIATIVES | $1,442,458 |
Promedica Health System Inc Toledo, OH PURPOSE: CHARITABLE DONATION | $350,000 |
Burton D Morgan Foundation Inc Hudson, OH PURPOSE: TO FUND THE BURTON D. MORGAN MENTORING PROGRAM | $334,000 |
Toledo Community Foundation Toledo, OH PURPOSE: STRENGTHENING NWO SMALL BUSINESSES, GREATER TOLEDO CAPITAL RESOURCES, GREATER TOLEDO CAPITAL RESOURCES, STRENGTHENING NWO SMALL BUSINESSES | $100,000 |
Educational Foundation Of America Bethesda, MD PURPOSE: GENERAL OPERATING SUPPORT | $40,000 |
Sam J Frankino Foundation Cleveland, OH PURPOSE: OPERATING | $20,000 |
Organization Name | Assets | Revenue |
---|---|---|
Reinvestment Fund Inc Philadelphia, PA | $609,259,384 | $44,624,452 |
Akron Summit Community Action Agency Akron, OH | $9,053,133 | $31,825,266 |
Hocking-Athens Perry Community Action Glouster, OH | $22,374,760 | $30,742,269 |
Capital Area Community Services Inc Lansing, MI | $6,281,706 | $28,298,422 |
Indianapolis Foundation Inc Indianapolis, IN | $352,748,809 | $43,731,535 |
Blueprints Washington, PA | $9,542,152 | $23,150,876 |
Pennyrile Allied Community Services Inc Hopkinsville, KY | $9,618,726 | $22,758,893 |
Jumpstart Inc Cleveland, OH | $82,356,707 | $21,511,113 |
Lexington Center Corporation Lexington, KY | $378,439,328 | $16,156,810 |
Corporation For Ohio Appalachian Development Athens, OH | $7,078,759 | $21,339,241 |
Kentucky River Foothills Development Council Inc Richmond, KY | $12,381,295 | $19,871,173 |
Community Action Of Southern Kentucky Incorporated Bowling Green, KY | $10,381,389 | $18,999,181 |