Civic Intelligence

Milwaukee Institute Inc

990 • Fiscal year 2020 • EIN 26-0724304

Apr 01, 2019 to Mar 31, 2020 • Filed on Aug 17, 2020

10437 W Innovation Dr 104Milwaukee, WI 53226

(414) 269-8330

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

55th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

55th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Net Margin

57th percentile

9.5%

Higher net margin than 57% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Top Officer Pay

97th percentile

$85,462

Higher top officer pay than 97% of similar nonprofits.

Top officer pay equals 17.7% of source-year revenue.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2020

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2020

Assets

$140,414

No earlier filing loaded for comparison.

Net Assets

$140,414

No earlier filing loaded for comparison.

Liabilities

$0

No earlier filing loaded for comparison.

Revenue

$481,930

No earlier filing loaded for comparison.

Expenses

$436,318

No earlier filing loaded for comparison.

Net Income

$45,612

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$300K$200K$100K$0Assets 2020: $140,414Liabilities 2020: $0Net Assets 2020: $140,4142020Assets 2021: $219,872Liabilities 2021: $36,600Net Assets 2021: $183,2722021Assets 2022: $65,088Liabilities 2022: $3,403Net Assets 2022: $61,6852022Assets 2023: $100,790Liabilities 2023: $0Net Assets 2023: $100,7902023Assets 2024: $116,413Liabilities 2024: $4,207Net Assets 2024: $112,2062024Assets 2025: $149,872Liabilities 2025: $0Net Assets 2025: $149,8722025

Highlighted filing

2020

Assets$140,414
Liabilities$0
Net Assets$140,414

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$600K$400K$200K$0-$200KRevenue 2020: $481,930Expenses 2020: $436,318Net Income 2020: $45,6122020Revenue 2021: $469,246Expenses 2021: $426,388Net Income 2021: $42,8582021Revenue 2022: $176,000Expenses 2022: $297,587Net Income 2022: -$121,5872022Revenue 2023: $162,000Expenses 2023: $122,895Net Income 2023: $39,1052023Revenue 2024: $410,500Expenses 2024: $399,084Net Income 2024: $11,4162024Revenue 2025: $158,500Expenses 2025: $120,834Net Income 2025: $37,6662025

Highlighted filing

2020

Revenue$481,930
Expenses$436,318
Net Income$45,612
Jump To
Filing Snapshot
Filing Period
Apr 1, 2019 to Mar 31, 2020
Signed
Aug 17, 2020
Return Version
2019v5.0
Gross Receipts
$481,930
Mission and Program Overview

Mission

The institute is a not-for-profit organization dedicated to working with like-minded partners to build and connect the great lakes region's high technology entrepreneurial economy and culture by advancing scientific research, education and economic development and technological innovation.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$94,802$140,414▲ $45,612
Total Assets$94,802$140,414▲ $45,612
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$94,802$140,414▲ $45,612
Total Net Assets Fund Balance$94,802$140,414▲ $45,612
Total Liabilities and Net Assets / Fund Balance$94,802$140,414▲ $45,612
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Kathleen GallagherExecutive DiFT$85,462$85,462

Board Members and Trustees

NameTitle
John ByrnesChairman
David VoskoDirector
Randall KirkDirector
Tim HonakerDirector
Walter SkipperDirector, Tr
Revenue and Support

Revenue Composition

Contributions and Grants
$456,930
Program Service Revenue
$25,000
Investment Income
$0
Other Revenue
$0
All Other Contributions
$316,176
Change in Net Assets
$45,612
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$307,115
Salaries, Compensation, and Employee Benefits$92,308
Other Expenses$36,895
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$307,115--$307,115
Current Officers, Directors, Trustees, and Key Employees$55,462$30,000-$85,462
Conferences and Meetings$20,334--$20,334
Payroll Taxes$4,443$2,403-$6,846
Office Expenses$2,644$1,424-$4,068
Occupancy$2,408$1,296-$3,704
Fees for Services Management$2,079$1,119-$3,198
Fees for Services Accounting$1,600$861-$2,461
Insurance$1,206$649-$1,855
Advertising$798$429-$1,227
Fees for Services Legal-$48-$48
Total Functional Expenses$398,089$38,229$0$436,318
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Young Enterprise SocietyMilwaukee, WI-Education$216,615
Genr8torMilwaukee, WI-Education$75,000
One Chart HealthLehi, UT-Education$7,500
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

A draft is provided to the board for its review prior to filing.

Form 990, Page 6, Part VI, Line 12C

The by-laws require that directors notify the board of any duality of interest or conflict whenever a matter is under consideration by the board.

Form 990, Page 6, Part VI, Line 15A

The organization determined the leased executive director's compensation by reviewing compensation of management officials in comparable organizations.

Form 990, Page 6, Part VI, Line 19

Financial statements, governing documents and policies are available to the public on request.

Filing and Contact Details

Filer

Filer Name
Milwaukee Institute Inc
EIN
26-0724304
Phone
4142698330
Address
10437 W INNOVATION DR 104, MILWAUKEE, WI 53226

Signing Officer

Name
Kathleen Gallagher
Title
Executive Director
Phone
4142698330
Signed
2020-08-17

Organization Details

Formed
2007
Legal Domicile
Wi
Voting Board Members
6
Independent Board Members
6
Employees
1
Volunteers
23

Preparer

Firm
Belt Accounting and Tax LLC
Address
2417 SILVERNAIL ROAD, PEWAUKEE, WI 53072-5406
Preparer
Kelli Belt
Phone
2626464323
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

The institute is a not-for-profit organization dedicated to working with like-minded partners to build and connect the great lakes region's high technology entrepreneurial economy and culture by advancing scientific research, education and economic development and technological innovation.

Form 990, Page 2, Part III, Line 2

- 5 lakes forum - 5 lakes pitch @ summerfest tech - scoutcamp - 5 lakes chats - supported efforts to elevate uw madison school of computer, data and information sciences - grasshopper networking group

Form 990, Page 2, Part III, Line 4A

Launched 5 lakes forum in may 2019, a technology conference attended by nearly 500 startup founders, funders and technologists that featured educational presentations and a startup pitch featuring 17 startups. Organized and ran 5 lakes pitch @ summerfest tech in june 2019 for great lakes region startups in the areas of future of work, health, mobility, envirotech and advanced manufacturing. Distributed nearly 10,000 of prizes to winning startups. Planned scoutcamp, a partnership with midwest university research network that connects top investors and university professionals to discuss a vertically-focused portfolio of technologies and startups from the great lakes region's premier research institutions, for launch in april 2020. Interviewed 12 founders who've had measurable success about how and why they succeeded in an effort to educate emerging entrepreneurs. The interviews aired on how did you do that?, a radio segment/podcast we work on in partnership with wuwm, the milwaukee npr station. Beta tested a new program called 5 lakes chats by holding a session at university club milwaukee with key players at uw-madison's new school of computer, data and information sciences. Supported efforts that were ultimately successful to elevate the university of wisconsin madison's computer science department into a new school, now known as the school of computer, data and information sciences (cdis). Continued to support the new entity by participating in the cdis outreach committee. Continued supporting and assisting the blueprint, an inner-city milwaukee startup accelerator run by young enterprising society that provides free training, mentoring and networking to urban entrepreneurs. Planned and ran monthly meetings of grasshopper, a group organized to provide education and networking opportunities to aspiring entrepreneurs in the milwaukee region. Helped grow the supporter base of csforwi, which is focused on creating a wisconsin plan for computer science education and related initiatives. Helped recruit volunteers for the microsoft teals program, which uses technology professionals to help train high school teachers to teach computer science classes.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE INSTITUTE IS A NOT-FOR-PROFIT ORGANIZATION DEDICATED TO WORKING WITH LIKE-MINDED PARTNERS TO BUILD AND CONNECT THE GREAT LAKES REGION'S HIGH TECHNOLOGY ENTREPRENEURIAL ECONOMY AND CULTURE BY ADVANCING SCIENTIFIC RESEARCH, EDUCATION AND ECONOMIC DEVELOPMENT AND TECHNOLOGICAL INNOVATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1- 5 LAKES FORUM - 5 LAKES PITCH @ SUMMERFEST TECH - SCOUTCAMP - 5 LAKES CHATS - SUPPORTED EFFORTS TO ELEVATE UW MADISON SCHOOL OF COMPUTER, DATA AND INFORMATION SCIENCES - GRASSHOPPER NETWORKING GROUP
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2LAUNCHED 5 LAKES FORUM IN MAY 2019, A TECHNOLOGY CONFERENCE ATTENDED BY NEARLY 500 STARTUP FOUNDERS, FUNDERS AND TECHNOLOGISTS THAT FEATURED EDUCATIONAL PRESENTATIONS AND A STARTUP PITCH FEATURING 17 STARTUPS. ORGANIZED AND RAN 5 LAKES PITCH @ SUMMERFEST TECH IN JUNE 2019 FOR GREAT LAKES REGION STARTUPS IN THE AREAS OF FUTURE OF WORK, HEALTH, MOBILITY, ENVIROTECH AND ADVANCED MANUFACTURING. DISTRIBUTED NEARLY 10,000 OF PRIZES TO WINNING STARTUPS. PLANNED SCOUTCAMP, A PARTNERSHIP WITH MIDWEST UNIVERSITY RESEARCH NETWORK THAT CONNECTS TOP INVESTORS AND UNIVERSITY PROFESSIONALS TO DISCUSS A VERTICALLY-FOCUSED PORTFOLIO OF TECHNOLOGIES AND STARTUPS FROM THE GREAT LAKES REGION'S PREMIER RESEARCH INSTITUTIONS, FOR LAUNCH IN APRIL 2020. INTERVIEWED 12 FOUNDERS WHO'VE HAD MEASURABLE SUCCESS ABOUT HOW AND WHY THEY SUCCEEDED IN AN EFFORT TO EDUCATE EMERGING ENTREPRENEURS. THE INTERVIEWS AIRED ON HOW DID YOU DO THAT?, A RADIO SEGMENT/PODCAST WE WORK ON IN PARTNERSHIP WITH WUWM, THE MILWAUKEE NPR STATION. BETA TESTED A NEW PROGRAM CALLED 5 LAKES CHATS BY HOLDING A SESSION AT UNIVERSITY CLUB MILWAUKEE WITH KEY PLAYERS AT UW-MADISON'S NEW SCHOOL OF COMPUTER, DATA AND INFORMATION SCIENCES. SUPPORTED EFFORTS THAT WERE ULTIMATELY SUCCESSFUL TO ELEVATE THE UNIVERSITY OF WISCONSIN MADISON'S COMPUTER SCIENCE DEPARTMENT INTO A NEW SCHOOL, NOW KNOWN AS THE SCHOOL OF COMPUTER, DATA AND INFORMATION SCIENCES (CDIS). CONTINUED TO SUPPORT THE NEW ENTITY BY PARTICIPATING IN THE CDIS OUTREACH COMMITTEE. CONTINUED SUPPORTING AND ASSISTING THE BLUEPRINT, AN INNER-CITY MILWAUKEE STARTUP ACCELERATOR RUN BY YOUNG ENTERPRISING SOCIETY THAT PROVIDES FREE TRAINING, MENTORING AND NETWORKING TO URBAN ENTREPRENEURS. PLANNED AND RAN MONTHLY MEETINGS OF GRASSHOPPER, A GROUP ORGANIZED TO PROVIDE EDUCATION AND NETWORKING OPPORTUNITIES TO ASPIRING ENTREPRENEURS IN THE MILWAUKEE REGION. HELPED GROW THE SUPPORTER BASE OF CSFORWI, WHICH IS FOCUSED ON CREATING A WISCONSIN PLAN FOR COMPUTER SCIENCE EDUCATION AND RELATED INITIATIVES. HELPED RECRUIT VOLUNTEERS FOR THE MICROSOFT TEALS PROGRAM, WHICH USES TECHNOLOGY PROFESSIONALS TO HELP TRAIN HIGH SCHOOL TEACHERS TO TEACH COMPUTER SCIENCE CLASSES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3A DRAFT IS PROVIDED TO THE BOARD FOR ITS REVIEW PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE BY-LAWS REQUIRE THAT DIRECTORS NOTIFY THE BOARD OF ANY DUALITY OF INTEREST OR CONFLICT WHENEVER A MATTER IS UNDER CONSIDERATION BY THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ORGANIZATION DETERMINED THE LEASED EXECUTIVE DIRECTOR'S COMPENSATION BY REVIEWING COMPENSATION OF MANAGEMENT OFFICIALS IN COMPARABLE ORGANIZATIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6FINANCIAL STATEMENTS, GOVERNING DOCUMENTS AND POLICIES ARE AVAILABLE TO THE PUBLIC ON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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