Battery Innovation Center Inc
- Assets
- $801.7k
- Revenue
- $382.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Newberry, IN
- Founding
- 02/2012
- Data as of
- 12/2022
- EIN
- 45-4110850
Organization Overview
Battery Innovation Center Inc is located in Newberry, IN. The organization was established in 2012. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Battery Innovation Center Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2022, Battery Innovation Center Inc generated $382.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (6.5%) each year. All expenses for the organization totaled $615.2k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (8.9%) per year over the past 8 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
TO ENHANCE AWARENESS AND INCREASE RESOURCES FOR INDIANA BASED RESEARCH AND DEVELOPMENT IN THE ADVANCED ENERGY STORAGE INDUSTRY IN ORDER TO FOSTER ECONOMIC DEVELOPMENT AND POSITION INDIANA AS A GLOBAL LEADER IN THE ADVANCED ENERGY STORAGE INDUSTRY AND TO ENCOURAGE AND PROMOTE THE BUSINESS INTERESTS OF INDIANA'S ADVANCED ENERGY STORAGE INDUSTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO ENHANCE AWARENESS AND INCREASE RESOURCES FOR INDIANA BASED RESEARCH AND DEVELOPMENT IN THE ADVANCED ENERGY STORAGE INDUSTRY IN ORDER TO FOSTER ECONOMIC DEVELOPMENT AND POSITION INDIANA AS A GLOBAL LEADER IN THE ADVANCED ENERGY STORAGE INDUSTRY AND TO ENCOURAGE AND PROMOTE THE BUSINESS INTERESTS OF INDIANA'S ADVANCED ENERGY STORAGE INDUSTRY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Benjamin Wrightsman President/ce | Officer | 7 | $0 |
Chad Pittman Treasurer/bo | Trustee | 7 | $0 |
David Roberts Board Chair | Trustee | 7 | $0 |
Brad Ellsworth Board Member | Trustee | 6 | $0 |
Paul Mitchell Secretary/bo | Trustee | 6 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $90,514 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $292,404 |
| 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 | $382,918 |
| 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 | $382,918 |
| 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 | $83,639 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $15,559 |
| Payroll taxes | $6,555 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $17,468 |
| Fees for services: Accounting | $671 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $422,347 |
| Advertising and promotion | $0 |
| Office expenses | $655 |
| Information technology | $2,643 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $18,938 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,635 |
| Insurance | $1,324 |
| All other expenses | $412 |
| Total functional expenses | $615,170 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $307,924 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $244,557 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $238,500 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | -$469 |
| Net Land, buildings, and equipment | $11,230 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $801,742 |
| Accounts payable and accrued expenses | $22,347 |
| Grants payable | $0 |
| Deferred revenue | $89,000 |
| 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 | $111,347 |
| Net assets without donor restrictions | $690,395 |
| 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 | $801,742 |