Incubator Kitchen Collective Co
- Assets
- $36.9k
- Revenue
- $239.8k
- Investments
- $0.0
- Employees
- 2
- Location
- Newport, KY
- Founding
- 02/2017
- Data as of
- 12/2021
- EIN
- 81-4918647
Organization Overview
Incubator Kitchen Collective Co is located in Newport, KY. The organization was established in 2017. According to its NTEE Classification (K99) the organization is classified as: Food, Agriculture & Nutrition N.E.C., under the broad grouping of Food, Agriculture & Nutrition and related organizations. As of 12/2021, Incubator Kitchen Collective Co employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Incubator Kitchen Collective Co 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, Incubator Kitchen Collective Co generated $239.8k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 12.5% each year . All expenses for the organization totaled $244.8k during the year ending 12/2021. While expenses have increased by 13.1% per year over the past 5 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
INCUBATOR KITCHEN COLLECTIVE CREATES A SHARED KITCHEN SPACE TO SUPPORT FOOD ENTREPRENEURS WITH AN AFFORDABLE, COMPREHENSIVE APPROACH. AT IKC, FOOD ENTREPRENEURS WILL FIND BELOW-MARKET RATE LICENSED KITCHEN FACILITIES; FOOD-FOCUSED ENTREPRENEURIAL EDUCATION; A NETWORK OF MARKETS, INVESTORS, MENTORS AND A COMMUNITY OF PASSIONATE, LIKE-MINDED PEERS. DURING 2018, IKC HELD FOUR DIFFERENT LEARNING WORKSHOPS, SUPPORTED OVER 35 COMPANIES TO LAUNCH AND GROW, AND STARTED A FOOD EDUCATION SERIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INCUBATOR KITCHEN COLLECTIVE CREATES A SHARED KITCHEN SPACE TO SUPPORT FOOD ENTREPRENEURS WITH AN AFFORDABLE, COMPREHENSIVE APPROACH. AT IKC, FOOD ENTREPRENEURS WILL FIND BELOW-MARKET RATE LICENSED KITCHEN FACILITIES; FOOD-FOCUSED ENTREPRENEURIAL EDUCATION; A NETWORK OF MARKETS, INVESTORS, MENTORS AND A COMMUNITY OF PASSIONATE, LIKE-MINDED PEERS. DURING 2018, IKC HELD FOUR DIFFERENT LEARNING WORKSHOPS, SUPPORTED OVER 35 COMPANIES TO LAUNCH AND GROW, AND STARTED A FOOD EDUCATION SERIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rachel Desrochers CEO | Officer | $0 | |
Gerald Grubbs Director | Trustee | $0 | |
Stephanie Beck Borden Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $25,350 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $25,350 |
| Total Program Service Revenue | $213,730 |
| 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 | $239,830 |
| 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 | $63,561 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $5,206 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,568 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $8,440 |
| Advertising and promotion | $2,122 |
| Office expenses | $1,553 |
| Information technology | $1,625 |
| Royalties | $0 |
| Occupancy | $98,373 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,435 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $17,251 |
| Insurance | $3,706 |
| All other expenses | $5 |
| Total functional expenses | $244,840 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,035 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $390 |
| 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 | $27,426 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $36,851 |
| Accounts payable and accrued expenses | $4,054 |
| 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 | $0 |
| Total liabilities | $4,054 |
| Net assets without donor restrictions | $32,797 |
| 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 | $36,851 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Incubator Kitchen Collective Co has recieved totaling $20,000.
| Awarding Organization | Amount |
|---|---|
Green Umbrella Cincinnati, OH PURPOSE: Energy efficient refrigeration | $10,000 |
Green Umbrella Cincinnati, OH PURPOSE: Energy efficient refrigeration | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
State Fair Of West Virginia Inc Lewisburg, WV | $7,745,539 | $6,147,107 |
Foodservice Packaging Institute Inc Falls Church, VA | $4,132,737 | $3,111,855 |
Ohio Restaurant Assn Columbus, OH | $2,879,456 | $2,138,506 |
The Food Shippers Of America Inc Geneva, IL | $1,637,121 | $1,840,645 |
Boone County Fair Association Belvidere, IL | $3,013,747 | $1,687,537 |
Wine & Spirits Wholesalers Of Tennessee Nashville, TN | $2,252,502 | $1,835,883 |
Farm Stew International Princeton, IL | $756,525 | $1,608,819 |
Angelic Organics Learning Center Inc Caledonia, IL | $2,139,499 | $1,069,053 |
Public Markets Inc Ooltewah, TN | $875,543 | $1,266,301 |
3-A Sanitary Standards Inc McLean, VA | $2,950,339 | $1,154,736 |
Mason County Fair Inc Point Pleasant, WV | $309,354 | $907,373 |
Tri-State Exhibition Center Cleveland, TN | $1,640,606 | $1,262,121 |