Battery Innovation Center Institute Inc
- Assets
- $10.1m
- Revenue
- $5.4m
- Investments
- $0.0
- Employees
- 31
- Location
- Newberry, IN
- Founding
- 02/2013
- Data as of
- 12/2022
- EIN
- 45-4763202
Organization Overview
Battery Innovation Center Institute Inc is located in Newberry, IN. The organization was established in 2013. According to its NTEE Classification (U40) the organization is classified as: Engineering & Technology, under the broad grouping of Science & Technology and related organizations. As of 12/2022, Battery Innovation Center Institute Inc employed 31 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Battery Innovation Center Institute 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 12/2022, Battery Innovation Center Institute Inc generated $5.4m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 18.0% each year . All expenses for the organization totaled $5.4m during the year ending 12/2022. While expenses have increased by 20.5% per year over the past 8 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 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 | $167,848 |
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 | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $189,632 |
| 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 | $189,632 |
| Total Program Service Revenue | $4,907,071 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $25,000 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,355,900 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $18,535 |
| Grants and other assistance to domestic individuals. | $2,000 |
| 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 | $1,611,265 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $435,906 |
| Payroll taxes | $123,470 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $60,192 |
| Fees for services: Accounting | $2,401 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $153,794 |
| Advertising and promotion | $69,692 |
| Office expenses | $46,170 |
| Information technology | $86,851 |
| Royalties | $0 |
| Occupancy | $251,529 |
| Travel | $159,095 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $228,844 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $660,103 |
| Insurance | $77,865 |
| All other expenses | $37,048 |
| Total functional expenses | $5,379,229 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $454,609 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,242,481 |
| 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 | $39,602 |
| Net Land, buildings, and equipment | $8,345,572 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $340 |
| Other assets | $0 |
| Total assets | $10,082,604 |
| Accounts payable and accrued expenses | $599,433 |
| 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 | $5,646,808 |
| Total liabilities | $6,246,241 |
| Net assets without donor restrictions | $3,836,363 |
| 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 | $10,082,604 |