Central Florida Incubator Inc is located in Lake Wales, FL. 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. Central Florida Incubator Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
WE ENVISION THRIVING COMMUNITIES SUSTAINED BY SUPERIOR EDUCATIONAL OPPORTUNITIES, AN INNOVATIVE ENTREPRENEURIAL ENVIRONMENT, BUSINESS INCUBATION AND ANGEL INVESTMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUCCESSFULLY DEVELOPED AND FACILITATED A 600,000 GRANT ON BEHALF OF THE NON-PROFIT. AEROSPACE CENTER FOR EXCELLENCE IN LAKELAND FLORIDA FROM POLK COUNTY FLORIDA TO DEVELOP AN AVIATION ORIENTED BUSINESS INCUBATOR.
DEVELOPED AND FACILITATED A 4 MILLION BUDGET REQUEST TO THE STATE OF FLORIDA FOR A CULINARY INCUBATOR TO BE BASED IN LAKE WALES FLORIDA, WITH A MATCHING 900,000 CONTRIBUTION FROM THE CITY OF LAKE WALES. THE 4 MILLION BUDGET REQUEST WAS APPROVED BY THE STATE OF FLORIDA LEGISLATURE FOR FY2023 AND VETOED BY GOVERNOR DESANTIS.
SUCCESSFULLY DEVELOPED A PLAN TO DEVELOP WITH SOUTH FLORIDA STATE COLLEGE IN AVON PARK FLORIDA, A CULINARY INCUBATOR TO BE BASED ON THEIR CAMPUS. THE PLAN WAS UNANIMOUSLY APPROVED BY THEIR BOARD.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Marshall Goodman President | OfficerTrustee | 40 | $120,000 |
Charles Baldwin Director | OfficerTrustee | 2 | $0 |
Peter Weber Chairman | OfficerTrustee | 5 | $0 |
Cindy Alexander Director | OfficerTrustee | 2 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $298,999 |
Noncash contributions included in lines 1a–1f | $28,999 |
Total Revenue from Contributions, Gifts, Grants & Similar | $298,999 |
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 | $298,999 |
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. | $120,000 |
Compensation of current officers, directors, key employees. | $60,000 |
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 | $11,920 |
Fees for services: Accounting | $1,785 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $13,500 |
Advertising and promotion | $0 |
Office expenses | $3,068 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $3,728 |
Travel | $149 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $300 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $345 |
Insurance | $0 |
All other expenses | $4 |
Total functional expenses | $155,961 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $114,384 |
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 | $0 |
Net Land, buildings, and equipment | $28,654 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $143,038 |
Accounts payable and accrued expenses | $0 |
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 | $0 |
Net assets without donor restrictions | $143,038 |
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 | $143,038 |
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