District Innovation And Venture Center Inc
- Assets
- $1.1m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 0
- Location
- New Haven, CT
- Founding
- 01/2018
- Data as of
- 12/2022
- EIN
- 82-3618329
Organization Overview
District Innovation And Venture Center Inc, operating under the name Holberton School New Haven, is located in New Haven, CT. The organization was established in 2018. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Holberton School New Haven 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, Holberton School New Haven generated $1.3m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 9.4% each year. All expenses for the organization totaled $2.3m during the year ending 12/2022. 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
DAE OFFERS EXPOSURE TO DIGITAL TECHNOLOGIES AND CAREERS, AND CAREER READINESS PROGRAMMING FOR HIGH SCHOOL AGED STUDENTS. DAE OFFERS CAREER READINESS PROGRAMMING FOR ADULT LEARNERS THROUGH EITHER UP-SKILLING OR RE-SKILLING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WE ESTABLISHED A PARTNERSHIP WITH WORKFORCE ALLIANCE IN NEW HAVEN, CT TO OFFER A 4-MONTH WEB DEVELOPMENT CAREER-READINESS PROGRAM FOR ADULT LEARNERS. AS OF DECEMBER 2022, 11 STUDENTS HAD COMPLETED THE PROGRAM AND 5 ADDITIONAL STUDENTS CURRENTLY ENROLLED. WE FURTHER DEVELOPED A PARTNERSHIP WITH NEW HAVEN PUBLIC SCHOOLS TO OFFER A YEAR-LONG PROGRAM TO PROVIDE 50 HIGH SCHOOL STUDENTS WITH EXPERIENCES THAT DEVELOP THE MINDSETS, SKILLS, AND TOOLS REQUIRED TO SECURE AND SUCCEED IN ENTRY-LEVEL POSITIONS IN DIGITAL CAREERS OR HAVE A LEG UP IN THE COLLEGE ADMISSIONS PROCESS. INSTEAD OF A COLLECTION OF GRADES OR ASSESSMENTS, STUDENTS DEVELOP A PORTFOLIO OF PROJECTS THAT DEMONSTRATE THEIR ABILITY TO ADD VALUE IN THE WORKPLACE. WE ALSO FURTHER SOLIDIFIED OUR RELATIONSHIP WITH THE SYNCHRONY FOUNDATION IN STAMFORD AND PILOTED A MODIFIED VERSION OF THE HIGH SCHOOL SKILLS PROGRAM FROM JANUARY TO AUGUST 2022 FOR 25 STUDENTS. BASED ON THE SUCCESS OF THAT PROGRAM, WE LAUNCHED A YEAR-LONG PROGRAM WITH THE SYNCHRONY FOUNDATION FOR THE 2022 - 2023 SCHOOL YEAR TO SERVE 50 STUDENTS FROM STAMFORD PUBLIC SCHOOLS WITH AN ADDITIONAL 20 STUDENTS FROM NORWALK PUBLIC SCHOOLS EXPECTED TO BE ADDED IN JANUARY 2023. ADDITIONALLY, WE DEVELOPED A RELATIONSHIP WITH THE CONNECTICUT OFFICE OF WORKFORCE STRATEGY TO FUND 66 SEATS IN OUR HIGH SCHOOL PROGRAM FOR STUDENTS IN NEW HAVEN COUNTY FROM JANUARY 2023 THROUGH JUNE 2025.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stuart Sidle Interim Chairman | OfficerTrustee | 0.25 | $0 |
Ian Akehurst Interim Secretary | OfficerTrustee | 0.25 | $0 |
Alpesh Bhatt CEO | OfficerTrustee | 40 | $150,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $100,704 |
| All other contributions, gifts, grants, and similar amounts not included above | $234 |
| Noncash contributions included in lines 1a–1f | $234 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $100,938 |
| Total Program Service Revenue | $1,151,574 |
| 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 | $1,252,512 |
| 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. | $154,000 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $559,152 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $36,820 |
| Payroll taxes | $65,921 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $59,241 |
| Advertising and promotion | $48,304 |
| Office expenses | $29,734 |
| Information technology | $68,287 |
| Royalties | $0 |
| Occupancy | $215,957 |
| Travel | $6,125 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $74,430 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $200,181 |
| Insurance | $20,281 |
| All other expenses | $11,989 |
| Total functional expenses | $2,284,701 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $320,827 |
| Savings and temporary cash investments | $40,062 |
| Pledges and grants receivable | $251,704 |
| Accounts receivable, net | $358,167 |
| 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 | $6,957 |
| Net Land, buildings, and equipment | $147,521 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $13,832 |
| Total assets | $1,139,070 |
| Accounts payable and accrued expenses | $208,270 |
| Grants payable | $0 |
| Deferred revenue | $375,000 |
| 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 | $1,500,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,083,270 |
| Net assets without donor restrictions | -$944,200 |
| 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 | $1,139,070 |