Nxtus Inc
- Assets
- $650.4k
- Revenue
- $738.1k
- Investments
- $0.0
- Employees
- 4
- Location
- Wichita, KS
- Founding
- 09/2016
- Data as of
- 12/2021
- EIN
- 47-4095131
Organization Overview
Nxtus Inc is located in Wichita, KS. The organization was established in 2016. 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. As of 12/2021, Nxtus Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nxtus Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
NXTUS, INC. IS A COMMUNITY DRIVEN ORGANIZATION THAT EDUCATES, MENTORS, INCUBATES AND ACCELERATES ASPIRING ENTREPRENEURS AND ENTREPRENEURIAL COMPANIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IMPLEMENTATION OF THE NXTUS ACCELERATOR INCLUDING THE COMMUNITY HEALTH AND VIBRANCY COHORT, CUSTOMER TRACTION COHORT, FINTECH PILOT COMPETITION, AND THE ENTERPRISE ENGAGEMENT SERIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Josh Oeding Ceo/president | OfficerTrustee | 40 | $176,768 |
Trish Brasted Treasurer | OfficerTrustee | 3 | $0 |
Bill Gardner Secretary | OfficerTrustee | 3 | $0 |
Erik Pedersen Chair | OfficerTrustee | 3 | $0 |
Luis Rodriguez Director | Trustee | 3 | $0 |
Gary Oborny Director | Trustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $44,250 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $121,235 |
| All other contributions, gifts, grants, and similar amounts not included above | $568,720 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $734,205 |
| Total Program Service Revenue | $0 |
| Investment income | $2,058 |
| 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 | $738,136 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $15,000 |
| 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. | $205,051 |
| Compensation of current officers, directors, key employees. | $51,263 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $177,625 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $26,468 |
| Payroll taxes | $31,293 |
| Fees for services: Management | $72,846 |
| Fees for services: Legal | $327 |
| Fees for services: Accounting | $2,751 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $36,000 |
| Advertising and promotion | $11,251 |
| Office expenses | $996 |
| Information technology | $6,941 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $38,899 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $583 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,908 |
| All other expenses | $0 |
| Total functional expenses | $693,447 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $211,958 |
| Savings and temporary cash investments | $343,806 |
| Pledges and grants receivable | $45,470 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $49,200 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $650,434 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $81,000 |
| 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 | $81,000 |
| Net assets without donor restrictions | $569,434 |
| 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 | $650,434 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Nxtus Inc has recieved totaling $537,000.
| Awarding Organization | Amount |
|---|---|
Wichita Community Foundation Wichita, KS PURPOSE: SILVER SUPPORT-WICHITA STARTUP WEEK 2022, GENERAL PURPOSES | $177,000 |
Ewing Marion Kauffman Foundation Kansas City, MO PURPOSE: SUPPORT FOR THE EXPANSION OF THE NXSTAGE COMPETITION AT NXTUS WHICH IS DESIGNED TO SUPPORT STARTUPS IN SECTORS THAT ARE ALIGNED WITH THE ECONOMIC STRENGTHS OF WICHITA, KANSAS (ENGINEERING, AEROSPACE, AND HEALTHCARE). 202105-10640 | $150,000 |
Ewing Marion Kauffman Foundation Kansas City, MO PURPOSE: SUPPORT FOR THE EXPANSION OF THE NXSTAGE COMPETITION AT NXTUS WHICH IS DESIGNED TO SUPPORT STARTUPS IN SECTORS THAT ARE ALIGNED WITH THE ECONOMIC STRENGTHS OF WICHITA, KANSAS (ENGINEERING, AEROSPACE, AND HEALTHCARE). 202105-10640 | $150,000 |
Ewing Marion Kauffman Foundation Kansas City, MO PURPOSE: SUPPORT FOR THE 2021 HEARTLAND SPARK PROGRAM, A CAPACITY BUILDING PROGRAM FOR ENTREPRENEUR SUPPORT ORGANIZATIONS. 202108-11152 | $50,000 |
Ewing Marion Kauffman Foundation Kansas City, MO PURPOSE: SUPPORT FOR THE NXTSTAGE PILOT DEMO DAY IN WICHITA, KANSAS, AUGUST & OCTOBER 2021. 202106-10773 | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Metropolitan Entertainment & Omaha, NE | $158,635,208 | $95,451,675 |
St Louis Economic Development Partnership Saint Louis, MO | $27,235,860 | $13,883,018 |
Central Oklahoma Workforce Investment Board Inc Oklahoma City, OK | $3,420,947 | $10,316,235 |
Convention & Visitors Bureau Of Greater Kansas City Kansas City, MO | $12,878,337 | $11,432,355 |
Explore Branson Tourism Branson, MO | $1,396,845 | $7,616,014 |
Region 10 League For Economic Assistance & Planning Inc Montrose, CO | $16,331,779 | $8,034,942 |
Wichita Convention & Tourism Bureau Wichita, KS | $3,697,930 | $5,439,635 |
South Central Kansas Economic Development District Inc Sckedd Bel Aire, KS | $6,963,572 | $7,360,259 |
Omaha Economic Development Corp Omaha, NE | $18,549,776 | $6,962,293 |
Economic Development Corporation Of Kansas City Missouri Kansas City, MO | $4,885,634 | $3,918,676 |
I2e Inc Oklahoma City, OK | $27,869,803 | $5,344,576 |
Entrepreneur Startup Business Development Corporation St Louis, MO | $30,546,182 | $5,633,965 |