Superior Business Center Inc
- Assets
- $1.3m
- Revenue
- $502.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Superior, WI
- Founding
- 12/1995
- Data as of
- 12/2023
- EIN
- 39-1832645
Organization Overview
Superior Business Center Inc is located in Superior, WI. The organization was established in 1995. According to its NTEE Classification (J20) the organization is classified as: Employment Preparation & Procurement, under the broad grouping of Employment and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Superior Business Center 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 12/2023, Superior Business Center Inc generated $502.6k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 16.6% each year . All expenses for the organization totaled $449.3k during the year ending 12/2023. While expenses have increased by 9.4% per year over the past 5 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE SUPERIOR BUSINESS CENTER (SBC) IS A NON-PROFIT CORPORATION WHOSE MISSION IS TO FOSTER ECONOMIC DEVELOPMENT IN SUPERIOR AND DOUGLAS COUNTY THROUGH THE PROVISION OF BOTH LEASED SPACE AND SUPPORT/TECHNICAL SERVICES TO SMALL BUSINESSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION OF THE SUPERIOR BUSINESS CENTER, PROVIDING LEASEED SPACE FOR SMALL BUSINESSES AS A BUSINESS INCUBATOR FACILITY SERVING SUPERIOR AND DOUGLAS COUNTY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Holt President | OfficerTrustee | 1 | $0 |
Alan Jaques Vice-Preside | OfficerTrustee | 1 | $0 |
Kelly Peterson Secretary | OfficerTrustee | 1 | $0 |
Charlie Glazman Treasurer | OfficerTrustee | 1 | $0 |
Kevin Holm Board Member | Trustee | 1 | $0 |
Kirl Ilenda Board Member | Trustee | 1 | $0 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $502,592 |
| Investment income | $11 |
| 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 | $502,603 |
| 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. | $30,000 |
| Compensation of current officers, directors, key employees. | $30,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,900 |
| 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 | $3,508 |
| Information technology | $8,640 |
| Royalties | $0 |
| Occupancy | $169,080 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $37,846 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $30,210 |
| Insurance | $17,861 |
| All other expenses | $1,275 |
| Total functional expenses | $449,276 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $90,560 |
| Savings and temporary cash investments | $50,016 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $16,564 |
| 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 | $1,148,805 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,305,945 |
| Accounts payable and accrued expenses | $4,566 |
| 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 | $843,824 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $300,227 |
| Total liabilities | $1,148,617 |
| Net assets without donor restrictions | $157,328 |
| 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 | $1,305,945 |