Bisonx
- Assets
- $22.0k
- Revenue
- $499.9k
- Investments
- $0.0
- Employees
- 1
- Location
- Fargo, ND
- Founding
- Data as of
- 12/2023
- EIN
- 92-1425437
Organization Overview
Bisonx is located in Fargo, ND. According to its NTEE Classification (S32) the organization is classified as: Rural Economic 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. Bisonx 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
AS A STARTUP INCUBATOR AND IDEA VALIDATION ORGANIZATION, WE PROVIDE GRANT MONEY THAT HELPS UNDER-RESOURCED ENTREPRENEURS IN OUR FIVE-STATE REGION, HELPING THEM POSITION THEMSELVES TO CONFIDENTLY ENTER THE STARTUP ECOSYSTEM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WE MADE GRANTS AND FORMED A COMPANY CALLED LOOP, AN IN HOME DELIVERY MECHANISM FOR RURAL AND UPPER MIDWEST COMMUNITIES CONNECTING PHYSICAL THERAPISTS TO PATIENT VIRTUALLY AND IN HOME. WE ADDED JOBS, COMPANY GROWTH AND FOSTERED EARLY STAGE ENTREPRENEURS IN FURTHERANCE OF OUR MISSION TO SERVE THE REGION.
THIS YEAR WE MENTORED, PLACED, AND INTERNALLY INCUBATED EARLY-STAGE COMPANIES PROVIDING GRANTS AND COACHING TO OUR REGION. FOUNDERS CAME TO US WITH IDEAS AND JUST UNDER A DOZEN COMPANIES WERE MENTORED AND/OR TAKEN THROUGH OUR STUDIO COHORT PROCESS. OF THE FOUNDERS IN OUR UNDERSERVED REGION, WE DEPLOYED INTO FOUNDERS WHO HAD THE IDEA TO INCREASE THE INVESTMENT LANDSCAPE FOR THE REGION. ONCE OF WHICH WAS THE LAUNCH OF THE PEOPLES FIRST COMPANY, A FIRST OF ITS KIND INVESTMENT FIRM TO DRAW MORE NON ACCREDITED INVESTORS IN OUR REGION INTO REAL ESTATE.
WE CONTINUED FORMING MYO IMPACT COMPANY AS A HOLDING COMPANY FOR MEDICAL ENTITIES STRIVING TO BRING VALUE BASED CARE TO MORE RURAL CENTRIC COMMUNITIES OR THOSE COMMUNITIES WITHOUT ACCESS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nicholas J Edwards Executive Director | Officer | 40 | $208,504 |
Jeff Mcdermott Member | Trustee | 25 | $0 |
Elizabeth Durand Director | Trustee | 40 | $0 |
Vanessa Heil Secretarytreasurer | Officer | 5 | $0 |
Financial Statements
| 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 | $249,788 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $249,788 |
| Total Program Service Revenue | $250,000 |
| Investment income | $101 |
| 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 | $499,889 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $100,000 |
| 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. | $208,504 |
| Compensation of current officers, directors, key employees. | $208,504 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $32,500 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $5,176 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $36,790 |
| Fees for services: Accounting | $34,490 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $85,746 |
| Office expenses | $4,772 |
| Information technology | $5,242 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $0 |
| Total functional expenses | $513,220 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $21,955 |
| Savings and temporary cash investments | $76 |
| 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 | $0 |
| Total assets | $22,031 |
| Accounts payable and accrued expenses | $15,362 |
| 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 | $20,000 |
| Other liabilities | $0 |
| Total liabilities | $35,362 |
| Net assets without donor restrictions | $0 |
| 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 | -$13,331 |
| Total liabilities and net assets/fund balances | $22,031 |