Elevate Aerospace & Logistics Incubator
- Assets
- $70.5k
- Revenue
- $157.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Lakeland, FL
- Founding
- Data as of
- 09/2023
- EIN
- 87-4082687
Organization Overview
Elevate Aerospace & Logistics Incubator is located in Lakeland, 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. Elevate Aerospace & Logistics Incubator 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, Elevate Aerospace & Logistics Incubator generated $157.9k in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 30.1% each year . All expenses for the organization totaled $100.9k during the year ending 09/2023. While expenses have increased by 4.6% per year over the past 2 years. They've been increasing with an increasing level of total revenue. 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
TO HELP BUDDING ENTREPRENEURS ESTABLISH COMPANIES IN AEROSPACE AND LOGISTICS INDUSTRIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ELEVATE OFFERS A MEMBERSHIP PROGRAM WHERE ENTREPRENEURS CAN GROW THEIR BUSINESS AND IDEAS THROUGH VIRTUAL ENGAGEMENT WITH MENTORS AND/OR PRIVATE OFFICE SPACE FOR COMPANIES WHO ARE READY TO TAKE THE NEXT STEP. WE BRING MAXIMUM VALUE TO OUR MEMBERS BY PROVIDING ACCESS TO STRATEGIC PARTNERSHIPS, THINK TANKS, VIDEO-ENABLED CONFERENCE ROOM, COWORKING SPACES OR DEDICATED DESK AREAS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eugene Conrad President/ceo (as Of 4/2022) | OfficerTrustee | 5 | $0 |
Eric Crump Executive Director | OfficerTrustee | 20 | $0 |
Ricardo Garcia President | OfficerTrustee | 1 | $0 |
Tracy Neal CFO | Officer | 5 | $0 |
John Leenhouts Former President/ceo (thru 4/2022) | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $151,699 |
| Government grants | $0 |
| 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 | $151,699 |
| Total Program Service Revenue | $6,250 |
| 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 | $157,949 |
| 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. | $57,394 |
| Compensation of current officers, directors, key employees. | $5,739 |
| 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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,161 |
| Advertising and promotion | $32,705 |
| Office expenses | $973 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $6,472 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $1,199 |
| Total functional expenses | $100,904 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $26,738 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $43,723 |
| Total assets | $70,461 |
| 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 | $12,380 |
| Total liabilities | $12,380 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $58,081 |
| 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 | $70,461 |