Launch
- Assets
- $287.2k
- Revenue
- $283.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Chapel Hill, NC
- Founding
- 08/2019
- Data as of
- 06/2023
- EIN
- 83-2564017
Organization Overview
Launch is located in Chapel Hill, NC. The organization was established in 2019. According to its NTEE Classification (S43) the organization is classified as: Small Business 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. Launch 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 06/2023, Launch generated $283.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (5.7%) each year. All expenses for the organization totaled $320.3k during the year ending 06/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
LAUNCH INC WAS FOUNDED TO PROVIDE CO-WORKING SPACE AND RESOURCES FOR BUSINESSES IN ORANGE COUNTY. WITH THE SUPPORT OF OUR PARTNERS, LAUNCH SEEKS TO MAXIMIZE THE POTENTIAL OF START-UPS AND CREATE JOBS IN ORANGE COUNTY THROUGH THE LAUNCH PROGRAM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LAUNCH CHAPEL HILL, A START-UP ACCELERATOR LOCATED IN DOWNTOWN CHAPEL HILL, FOSTERSHIGH-POTENTIAL ENTREPRENEURS WHO ARE COMMITTED TO BUILDING THEIR EARLY-STAGE, HIGH-POTENTIAL BUSINESSES INTO SELF-SUSTAINING ENTERPRISES. LAUNCH IS A TRULY UNIQUE PARTNERSHIP OF PRIVATE AND PUBLIC INVESTMENT BETWEEN THE TOWN OF CHAPEL HILL, ORANGE COUNTY, AND UNIVERSITY OF NORTH CAROLINA-CHAPEL HILL. LAUNCH PROVIDES THE SUPPORT, TOOLS AND KNOWLEDGE NEEDED TO DECREASE RISKS, REDUCE GO-TO-MARKET TIME, AND ACCELERATE THE GROWTH OF START-UPS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sheryl Waddell Treasurer | OfficerTrustee | 1.5 | $0 |
Steve Brantley Secretary | OfficerTrustee | 0.5 | $0 |
Dwight Bassett Chairman | OfficerTrustee | 1.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $366,465 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $366,465 |
| Total Program Service Revenue | $37,615 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$120,344 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $283,736 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $27,395 |
| Information technology | $2,986 |
| Royalties | $0 |
| Occupancy | $80,164 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,767 |
| Insurance | $3,563 |
| All other expenses | $0 |
| Total functional expenses | $320,340 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $271,299 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $537 |
| Net Land, buildings, and equipment | $15,398 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $287,234 |
| Accounts payable and accrued expenses | $125,612 |
| 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 | $125,612 |
| Net assets without donor restrictions | $0 |
| 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 | $161,622 |
| Total liabilities and net assets/fund balances | $287,234 |