The New Bohemian Innovation Collaborative Inc
- Assets
- $841.7k
- Revenue
- $2.7m
- Investments
- $0.0
- Employees
- 33
- Location
- Cedar Rapids, IA
- Founding
- 10/2014
- Data as of
- 12/2022
- EIN
- 46-4387860
Organization Overview
The New Bohemian Innovation Collaborative Inc, operating under the name Newboco, is located in Cedar Rapids, IA. The organization was established in 2014. According to its NTEE Classification (T02) the organization is classified as: Management & Technical Assistance, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2022, Newboco employed 33 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Newboco 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, Newboco generated $2.7m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 24.3% each year . All expenses for the organization totaled $3.4m during the year ending 12/2022. While expenses have increased by 27.8% 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 EDUCATE AND ASSIST NEW BUSINESS OWNERS, ENTREPRENEURS AND THE WIDER BUSINESS COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NEWBOCO ENTREPRENEURSHIP PROGRAMS INCLUDED ENTREFEST WHICH SERVED OVER 380 ATTENDEES, 1 MILLION CUPS WHICH GATHERED 30 ATTENDEES PER WEEK, VAULT COWORKING WHICH ASSISTED APPROXIMATELY 37 ENTREPRENEURS, KIVA IOWA WHICH ASSISTED 30 UNDERSERVED ENTREPRENEURS IN IOWA, AND IOWA STARTUP ACCELERATOR WHICH HAD 3 TEAMS PARTICIPATE DURING THE YEAR ENDING DECEMBER 31, 2022.
NEWBOCO EDUCATION PROGRAMS INCLUDED DELTAV CODESCHOOL WHERE OVER 50 ADULT LEARNERS ATTENDED CODING CLASSES, A CODE.ORG PARTNERSHIP WHICH TRAINED 600 TEACHERS ON HOW TO TEACH COMPUTER SCIENCE IN THEIR SCHOOL DISTRICTS, AND K-12 PROGRAMS WHICH INTRODUCED APPROXIMATELY 21,600 STUDENTS TO CODING AND ENGINEERING THROUGH CODER DOJO, GIRLS CODE++, SUMMER CAMPS, FUTURE CITY, LEGO LEAGUE AND MORE.
NEWBOCO INNOVATION PROGRAMS INCLUDED AGILE TRAINING AND CONSULTING AND CORPORATE INNOVATION TRAINING AND CONSULTING. BOTH PROGRAMS PROVIDED STRATEGY WORKSHOPS FOR APPROXIMATELY 20 SMALL TO LARGE BUSINESSES AND NON-PROFITS IN OUR REGION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Aaron Horn E.d. (thru April 2023) | Officer | 40 | $108,971 |
Eric Engelmann Chairman | OfficerTrustee | 1 | $0 |
David Tominsky Chief Relationship Officer | 40 | $109,334 | |
Alex Taylor Accelerator Managing Direc | 40 | $105,503 | |
Bill Daly Vice Chair | OfficerTrustee | 1 | $0 |
Ben Dillon Treasurer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $200,458 |
| All other contributions, gifts, grants, and similar amounts not included above | $447,125 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $647,583 |
| Total Program Service Revenue | $2,067,062 |
| Investment income | $12 |
| 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 | $2,714,657 |
| 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. | $113,130 |
| Compensation of current officers, directors, key employees. | $38,463 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,589,995 |
| Pension plan accruals and contributions | $38,845 |
| Other employee benefits | $61,130 |
| Payroll taxes | $124,333 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $46,428 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $216,439 |
| Advertising and promotion | $84,132 |
| Office expenses | $137,845 |
| Information technology | $46,586 |
| Royalties | $0 |
| Occupancy | $332,552 |
| Travel | $35,158 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $249,917 |
| Interest | $29,534 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,814 |
| Insurance | $13,641 |
| All other expenses | $38,843 |
| Total functional expenses | $3,368,128 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $246,792 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $238,972 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $30,379 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $16,864 |
| Net Land, buildings, and equipment | $120,160 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $188,570 |
| Total assets | $841,737 |
| Accounts payable and accrued expenses | $193,129 |
| Grants payable | $0 |
| Deferred revenue | $173,582 |
| 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 | $1,100,608 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $188,570 |
| Total liabilities | $1,655,889 |
| Net assets without donor restrictions | -$984,469 |
| Net assets with donor restrictions | $170,317 |
| 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 | $841,737 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The New Bohemian Innovation Collaborative Inc Cedar Rapids, IA | $841,737 | $2,714,657 |
Firespring Foundation Lincoln, NE | $45,036 | $3,143,601 |
Access Philanthropy Charities Minneapolis, MN | $107,111 | $1,358,500 |
West Side Parking Corporation Chicago, IL | $11,926,517 | $410,262 |
Directors Council Des Moines, IA | $717,359 | $234,796 |
Tax Credit Benevolent Association St Louis, MO | $2,534,284 | $1,284,210 |
Egalitary Inc Chicago, IL | $18,449 | $0 |
Elite Global Impact Wood Dale, IL | $0 | $125 |