Battery Innovation Center Institute Inc
- Assets
- $10.0m
- Revenue
- $4.9m
- Investments
- $0.0
- Employees
- 26
- Location
- Newberry, IN
- Founding
- 02/2013
- Data as of
- 12/2021
- 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 12/2021, Battery Innovation Center Institute Inc employed 26 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 12/2021, Battery Innovation Center Institute Inc generated $4.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 19.1% each year . All expenses for the organization totaled $3.2m during the year ending 12/2021. While expenses have increased by 15.1% 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
2021
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 | Officer | 6 | $50,000 |
Chad Pittman Chairman/tre | Trustee | 18 | $0 |
David Roberts Director | Trustee | 6 | $0 |
Brad Ellsworth Secretary/di | Trustee | 6 | $0 |
Paul Mitchell Director | Trustee | 6 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $20,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $25,000 |
| Total Program Service Revenue | $4,527,544 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$12,082 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,855,829 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $8,564 |
| Grants and other assistance to domestic individuals. | $7,000 |
| 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 | $1,161,719 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $253,113 |
| Payroll taxes | $90,801 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $55,132 |
| Fees for services: Accounting | $2,338 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $139,680 |
| Advertising and promotion | $54,512 |
| Office expenses | $49,699 |
| Information technology | $55,146 |
| Royalties | $0 |
| Occupancy | $77,491 |
| Travel | $80,275 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $84,908 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $425,881 |
| Insurance | $36,415 |
| All other expenses | -$301,279 |
| Total functional expenses | $3,223,559 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $739,885 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $659,681 |
| 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 | $12,998 |
| Net Land, buildings, and equipment | $8,558,711 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $397 |
| Other assets | $0 |
| Total assets | $9,971,672 |
| Accounts payable and accrued expenses | $138,762 |
| 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 | $5,998,966 |
| Total liabilities | $6,137,728 |
| Net assets without donor restrictions | $3,833,944 |
| 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 | $9,971,672 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Battery Innovation Center Institute Inc has recieved totaling $260,278.
| Awarding Organization | Amount |
|---|---|
Central Indiana Corporate Partnership Inc Indianapolis, IN PURPOSE: ESN IEDC GRANT PROJECT COLLABORATION | $211,182 |
Ninetwelve Institute Inc Zionsville, IN PURPOSE: RESEARCH | $49,096 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Clark Richardson And Biskup Consulting Engineers Inc Health Pl Kansas City, MO | $3,940,504 | $14,137,638 |
Battery Innovation Center Institute Inc Newberry, IN | $9,971,672 | $4,855,829 |
Additive Manufacturing Users Group Inc Milwaukee, WI | $3,328,250 | $3,683,925 |
Center For Emerging Technologies St Louis, MO | $9,044,689 | $2,098,435 |
Association For High Techology Distribution Waukesha, WI | $1,589,704 | $1,298,260 |
Midwest Energy Research Consortium Inc Milwaukee, WI | $2,074,471 | $1,456,728 |
Business Technology Association Kansas City, MO | $9,203,814 | $1,270,035 |
Heartland Science And Technology Group Champaign, IL | $604,593 | $1,416,544 |
Applied Science And Technology Research Organization Of Americs Rock Island, IL | $337,923 | $928,326 |
Technology Association Of Grantmakers Inc Chicago, IL | $872,956 | $756,276 |
Drone Port Of Kentucky Inc Hazard, KY | $48,099 | $0 |
Center For Computing And Robotics Inc Lexington, KY | $16,192 | $0 |