Peoria Innovation Hub Nfp
- Assets
- $3.8m
- Revenue
- $1.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Peoria, IL
- Founding
- Data as of
- 09/2023
- EIN
- 83-3485414
Organization Overview
Peoria Innovation Hub Nfp is located in Peoria, IL. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Peoria Innovation Hub Nfp 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 09/2023, Peoria Innovation Hub Nfp generated $1.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (22.8%) each year. All expenses for the organization totaled $472.8k during the year ending 09/2023. 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
CONNECTING PEOPLE, IDEAS AND RESOURCES TO LAUNCH AND GROW NEW BUSINESSES IN THE GREATER PEORIA COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GBETA PROGRAM IS A STARTUP BUSINESS ACCELERATOR PROGRAM
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Doug Cruitt Executive Director | OfficerTrustee | 40 | $0 |
Robert Sehring President | OfficerTrustee | 1 | $0 |
Christopher Setti Secretary | OfficerTrustee | 1 | $0 |
Michelle Conger Treasurer | OfficerTrustee | 1 | $0 |
John Vozenilke MD Director | Trustee | 0.25 | $0 |
Sheila Quirk-Bailey Director | Trustee | 0.25 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Greater Peoria Economich Development Consulting | 9/29/23 | $6,000 |
Paul Leamon Consulting | 9/29/23 | $40,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $699,720 |
| All other contributions, gifts, grants, and similar amounts not included above | $345,576 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,045,296 |
| Total Program Service Revenue | $0 |
| 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 | $1,045,296 |
| 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 | $46,000 |
| Fees for services: Legal | $2,732 |
| Fees for services: Accounting | $10,219 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $240,151 |
| Advertising and promotion | $1,544 |
| Office expenses | $1,782 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $3,029 |
| 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 | $0 |
| Insurance | $30,163 |
| All other expenses | $2,085 |
| Total functional expenses | $472,769 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $472,683 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $180,683 |
| 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 | $2,704 |
| Net Land, buildings, and equipment | $3,156,920 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,812,990 |
| Accounts payable and accrued expenses | $543,941 |
| 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 | $135,771 |
| Total liabilities | $679,712 |
| Net assets without donor restrictions | $3,133,278 |
| 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 | $3,812,990 |