District Innovation And Venture Center Inc
- Assets
- $2.0m
- Revenue
- $923.9k
- Investments
- $0.0
- Employees
- 20
- Location
- New Haven, CT
- Founding
- 01/2018
- Data as of
- 12/2021
- 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. As of 12/2021, Holberton School New Haven employed 20 individuals. 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 12/2021, Holberton School New Haven generated $923.9k in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 3.7% each year. All expenses for the organization totaled $1.9m during the year ending 12/2021. 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
TO CREATE WORKFORCE DEVELOPMENT AND EDUCATIONAL PROGRAMS TO IMPROVE AND CONTRIBUTE TO THE AVAILABILITY OF THE TECHNOLOGICAL TALENT IN THE STATE OF CONNECTICUT, AND THEREBY POSITIVELY IMPACTING THE OUTCOMES OF THE STATE'S BUSINESS ECOSYSTEM
Describe the Organization's Program Activity:
Part 3 - Line 4a
AS OF DECEMBER 2021, WE HAD 31 STUDENTS GRADUATE FROM OUR FULL STACK SOFTWARE ENGINEERING PROGRAM, WITH A JOB PLACEMENT RATE OF 60%. IN 2021, OUR HIGH SCHOOL PROGRAMMING SERVED 40 INDIVIDUALS, OF WHOM 82.50% WERE CONSIDERED UNDERSERVED. WE OFFERED A SOFTWARE ENGINEERING / COMPUTER SCIENCE PROGRAM WHERE STUDENTS DEVELOP THE SKILLS, EXPERIENCE, AND MINDSET NEEDED TO BE SUCCESSFUL UPON HIGH SCHOOL GRADUATION WHETHER THEY'RE PURSUING HIGHER EDUCATION OR A CAREER. WE WERE ALSO ABLE TO ESTABLISH OUR PARTNERSHIP WITH NEW HAVEN PUBLIC SCHOOLS AND EXPAND PROGRAMMING FOR 2022 AND 2023. IN 2021, WE ESTABLISHED OUR PARTNERSHIP WITH SYNCHRONY FINANCIAL TO LAUNCH OUR HIGH SCHOOL PROGRAMMING AT THE SKILLS ACADEMY IN STAMFORD, CT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alpesh Bhatt School Director | Trustee | 40 | $150,000 |
David Salinas Chairman | OfficerTrustee | 0.25 | $0 |
Tim Springstead Treasurer | OfficerTrustee | 0.25 | $0 |
Johannah Hamilton Secretary | OfficerTrustee | 0.25 | $0 |
Ian Akehurst Director | Trustee | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $632,311 |
| All other contributions, gifts, grants, and similar amounts not included above | $166,006 |
| Noncash contributions included in lines 1a–1f | $86,475 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $798,317 |
| Total Program Service Revenue | $125,578 |
| 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 | $923,895 |
| 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. | $150,000 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $508,043 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $26,806 |
| Payroll taxes | $63,338 |
| 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 | $107,077 |
| Advertising and promotion | $99,078 |
| Office expenses | $11,273 |
| Information technology | $55,156 |
| Royalties | $0 |
| Occupancy | $279,927 |
| Travel | $13,639 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $62,055 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $212,607 |
| Insurance | $13,468 |
| All other expenses | $6,095 |
| Total functional expenses | $1,942,650 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $402,247 |
| Savings and temporary cash investments | $40,054 |
| Pledges and grants receivable | $236,323 |
| Accounts receivable, net | $307,590 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $86,475 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $928,856 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,001,545 |
| Accounts payable and accrued expenses | $374,815 |
| Grants payable | $0 |
| Deferred revenue | $250,000 |
| 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 | $2,124,815 |
| Net assets without donor restrictions | -$123,270 |
| 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 | $2,001,545 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that District Innovation And Venture Center Inc has recieved totaling $160,000.
| Awarding Organization | Amount |
|---|---|
Economic Development Corporation Of New Haven New Haven, CT PURPOSE: To serve as a catalyst for attracting human and capital investment to the city and its neighborhoods. | $160,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Sports Fans Coalition Ny Inc Ronkonkoma, NY | $633,460 | $8,459,536 |
Greater Boston Convention And Tourist Bureau Inc Boston, MA | $3,175,283 | $8,778,402 |
Structured Employment Economic Development Corporation New York, NY | $3,440,081 | $6,983,803 |
Nybdc Local Development Corporation Albany, NY | $39,799,179 | $11,401,541 |
Venture For America Inc New York, NY | $3,605,973 | $6,866,605 |
Trufund Financial Services Inc New York, NY | $14,181,328 | $2,317,905 |
Griffiss Local Development Corporation Rome, NY | $28,823,478 | $3,861,279 |
Metrotech Area District Management Association Inc Brooklyn, NY | $3,270,355 | $4,991,826 |
Kiryas Joel Municipal Local Development Corporation Monroe, NY | $2,561,042 | $4,665,324 |
Connecticut Economic Resource New Haven, CT | $3,997,158 | $4,805,353 |
Greater New Bedford Workforce Investment Board Inc New Bedford, MA | $1,194,439 | $3,887,016 |
West Harlem Development Corporation New York, NY | $61,321,755 | $1,156,663 |