Brightstar Wisconsin Foundation Inc
- Assets
- $9.8m
- Revenue
- $62.3k
- Investments
- $0.0
- Employees
- 3
- Location
- Milwaukee, WI
- Founding
- 11/2013
- Data as of
- 12/2023
- EIN
- 90-1001588
Organization Overview
Brightstar Wisconsin Foundation Inc is located in Milwaukee, WI. The organization was established in 2013. According to its NTEE Classification (S19) the organization is classified as: Support N.E.C., under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Brightstar Wisconsin Foundation Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Brightstar Wisconsin Foundation Inc 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 12/2023, Brightstar Wisconsin Foundation Inc generated $62.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (29.0%) each year. All expenses for the organization totaled $436.8k during the year ending 12/2023. 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
BRIGHTSTAR WISCONSIN FOUNDATION ACCEPTS CHARITABLE DONATIONS AS A 501(C)(3) ORGANIZATION AND USES THE DONATIONS TO TAKE CONVERTIBLE DEBT AND EQUITY POSITIONS IN FOR-PROFIT EARLY-STAGE COMPANIES THAT CREATE JOBS IN WISCONSIN. EARNINGS AND RETURN OF PROCEEDS OF INVESTMENTS WILL BE REINVESTED IN OTHER FOR-PROFIT EARLY-STAGE COMPANIES THAT CREATE JOBS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROGRAM INVESTMENTS: ALL PROGRAM INVESTMENTS ARE MADE WITH THE PRIMARY INTENT OF CREATING FAMILY-SUSTAINING JOBS WITHIN THE STATE OF WISCONSIN.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas Shannon Executive Chairman | OfficerTrustee | 1 | $0 |
Jeff Harris President | OfficerTrustee | 1 | $0 |
Daniel Matola Treasurer | OfficerTrustee | 1 | $0 |
Anthony Handzlik Secretary | OfficerTrustee | 1 | $0 |
Adam Berger Director | Trustee | 1 | $0 |
Mark Burish Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $50,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $381,644 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $431,644 |
| Total Program Service Revenue | -$386,555 |
| Investment income | $17,184 |
| 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 | $62,273 |
| 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. | $326,686 |
| Compensation of current officers, directors, key employees. | $82,687 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $13,329 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $20,130 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $51 |
| Fees for services: Accounting | $15,778 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,010 |
| Fees for services: Other | $11,500 |
| Advertising and promotion | $6,052 |
| Office expenses | $9,591 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $17,567 |
| Travel | $6,163 |
| 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 | $2,727 |
| Insurance | $5,503 |
| All other expenses | $0 |
| Total functional expenses | $436,848 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $145,097 |
| Pledges and grants receivable | $138,642 |
| 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 | $6,281 |
| Net Land, buildings, and equipment | $1,857 |
| Investments—publicly traded securities | $101,917 |
| Investments—other securities | $0 |
| Investments—program-related | $9,427,113 |
| Intangible assets | $7,537 |
| Other assets | $0 |
| Total assets | $9,828,444 |
| Accounts payable and accrued expenses | $16,316 |
| 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 | $16,316 |
| Net assets without donor restrictions | $9,698,486 |
| Net assets with donor restrictions | $113,642 |
| 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 | $9,828,444 |