Mill Race Center For Entrepreneurship And Innovation
- Assets
- $32.4k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 1
- Location
- Cedar Falls, IA
- Founding
- 04/2019
- Data as of
- 12/2022
- EIN
- 82-1919079
Organization Overview
Mill Race Center For Entrepreneurship And Innovation, operating under the name Red Cedar Cv, is located in Cedar Falls, IA. The organization was established in 2019. According to its NTEE Classification (B60) the organization is classified as: Adult Education, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Red Cedar Cv 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, Red Cedar Cv generated $33.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (36.3%) each year. All expenses for the organization totaled $24.5k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (37.9%) per year over the past 5 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3
WE HOSTED A WINTER/SPRING COHORT OF THE 10-WEEK CO.STARTERS ENTREPRENEURIAL TRAINING PROGRAM, PROVIDING TRAINING AND ON-GOING BUSINESS COACHING SUPPORT TO SEVEN ENTREPRENEURS. SIX OF THE PARTICIPANTS WERE FOUNDERS FROM UNDERREPRESENTED DEMOGRAPHICS (EITHER FEMALE AND/OR ETHNIC MINORITY). THE KEY OBJECTIVE OF THIS PROGRAM IS TO HELP NEW BUSINESS FOUNDERS LEARN FASTER AND LOWER THE RISK OF LAUNCHING THE NEW BUSINESS. TWO OF THE PARTICIPANTS WENT ON TO RAISE ADDITIONAL CAPITAL IN THE SIX MONTHS FOLLOWING THE PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Danny Laudick Executive Director | 2 | $0 | |
Kris Hansen Chairman | 0.1 | $0 | |
Laura Hand Vice Chair | 0.1 | $0 | |
Reshonda Young Treasurer | 0.1 | $0 | |
Therese Stevens Secretary | 0.1 | $0 | |
Trace Steffen Director | 0.1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $33,000 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $33,000 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $8,123 |
| Occupancy, rent, utilities, and maintenance | $3,750 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $12,659 |
| Total expenses | $24,532 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $32,390 |
| Other assets | $0 |
| Total assets | $32,390 |
| Total liabilities | $0 |
| Net assets or fund balances | $32,390 |