Brightstar Wisconsin Foundation Inc
- Assets
- $10.6m
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 3
- Location
- Milwaukee, WI
- Founding
- 11/2013
- Data as of
- 12/2021
- 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 12/2021, 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 12/2021, Brightstar Wisconsin Foundation Inc generated $2.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.5% each year. All expenses for the organization totaled $668.3k during the year ending 12/2021. While expenses have increased by 6.9% per year over the past 7 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
2021
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 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Fred Raasch Vice President | Officer | 32 | $81,951 |
R Jeffery Harris Chairman | OfficerTrustee | 1 | $0 |
Anthony Handzlik Secretary | OfficerTrustee | 1 | $0 |
Daniel Matola Treasurer | OfficerTrustee | 1 | $0 |
Thomas Shannon President & CEO | OfficerTrustee | 8 | $0 |
Dan Shannon Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $423,908 |
| All other contributions, gifts, grants, and similar amounts not included above | $20,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $443,908 |
| Total Program Service Revenue | $1,369,831 |
| Investment income | $55,861 |
| 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 | $1,965,225 |
| 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. | $81,951 |
| Compensation of current officers, directors, key employees. | $40,158 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $10,124 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $7,188 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,233 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $3,798 |
| Fees for services: Other | $3,082 |
| Advertising and promotion | $36,941 |
| Office expenses | $12,498 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $17,023 |
| Travel | $3,751 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $179 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,802 |
| All other expenses | $0 |
| Total functional expenses | $668,348 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $364,234 |
| Pledges and grants receivable | $273,908 |
| Accounts receivable, net | $95,625 |
| 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 | $5,028 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,146,561 |
| Investments—other securities | $0 |
| Investments—program-related | $8,669,807 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $10,555,163 |
| Accounts payable and accrued expenses | $18,072 |
| 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 | $18,072 |
| Net assets without donor restrictions | $10,192,091 |
| Net assets with donor restrictions | $345,000 |
| 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 | $10,555,163 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Brightstar Wisconsin Foundation Inc has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: PUBLIC, SOCIETAL BENEFIT | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Detroit Future City Detroit, MI | $3,886,880 | $3,923,868 |
Grow Greene County Gaming Corporation Jefferson, IA | $1,604,724 | $1,910,330 |
Illinois Coalition For Community Services Springfield, IL | $268,054 | $992,624 |
Harlem Lake Marion Corp D B A Downtown Oak Park Oak Park, IL | $288,732 | $750,935 |
Brightstar Wisconsin Foundation Inc Milwaukee, WI | $10,555,163 | $1,965,225 |
Urban Core Collective Grand Rapids, MI | $555,526 | $892,347 |
Education Foundation Of The Ccim Institute Chicago, IL | $7,507,081 | $827,056 |
Community Renaissance Fund Port Huron, MI | $2,626,576 | $380,059 |
Crsi Education And Research Foundation Schaumburg, IL | $3,622,028 | $306,204 |
Friends Of Barringtons White House Nfp Barrington, IL | $1,958,437 | $548,953 |
Information Technology Certification Council Inc Chicago, IL | $424,689 | $214,711 |
Print Education & Research Foundation Chicago, IL | $3,059,865 | $638,818 |