Civic Intelligence

Launchyourcity Inc.

990 • Fiscal year 2015 • EIN 26-3190220

Feb 01, 2014 to Jan 31, 2015 • Filed on Oct 29, 2015

88 Union Avenue 2nd FloorMemphis, TN 38103

(901) 213-7795

Siviq Scores

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

Liabilities / Assets

86th percentile

0.60x

Higher debt load relative to assets than 86% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2015

Liabilities / Revenue

68th percentile

0.14x

Higher debt load relative to revenue than 68% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2015

Net Margin

55th percentile

4.9%

Higher net margin than 55% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2015

Top Officer Pay

72nd percentile

$60,000

Higher top officer pay than 72% of similar nonprofits.

Top officer pay equals 6.5% of source-year revenue.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2015

Asset Growth

97th percentile

198%

Faster asset growth than 97% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2014 to 2015

Revenue Growth

93rd percentile

94%

Faster revenue growth than 93% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2014 to 2015

Assets

Up

$219,915

Up $146,241 (+198%) from 2014

Net Assets

Up

$88,058

Up $45,389 (+106%) from 2014

Liabilities

Up

$131,857

Up $100,852 (+325%) from 2014

Revenue

Up

$924,594

Up $448,121 (+94%) from 2014

Expenses

Up

$879,205

Up $383,023 (+77%) from 2014

Net Income

Up

$45,389

Up $65,098 (+330%) from 2014

Historical Trend

Balance Sheet Trend

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

$1.0M$500K$0-$500K-$1.0MAssets 2013: $177,772Liabilities 2013: $115,394Net Assets 2013: $62,3782013Assets 2014: $73,674Liabilities 2014: $31,005Net Assets 2014: $42,6692014Assets 2015: $219,915Liabilities 2015: $131,857Net Assets 2015: $88,0582015Assets 2016: $129,449Liabilities 2016: $95,144Net Assets 2016: $34,3052016Assets 2017: $359,810Liabilities 2017: $118,950Net Assets 2017: $240,8602017Assets 2019: $120,185Liabilities 2019: $701,879Net Assets 2019: -$581,6942019Assets 2020: $186,141Liabilities 2020: $310,166Net Assets 2020: -$124,0252020Assets 2021: $54,537Liabilities 2021: $414,452Net Assets 2021: -$359,9152021Assets 2022: $200,684Liabilities 2022: $395,315Net Assets 2022: -$194,6312022Assets 2024: $110,204Liabilities 2024: $393,840Net Assets 2024: -$283,6362024

Highlighted filing

2015

Assets$219,915
Liabilities$131,857
Net Assets$88,058

Operations Trend

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

$2.0M$1.0M$0-$1.0MExpenses 2013: $187,3292013Revenue 2014: $476,473Expenses 2014: $496,182Net Income 2014: -$19,7092014Revenue 2015: $924,594Expenses 2015: $879,205Net Income 2015: $45,3892015Revenue 2016: $851,774Expenses 2016: $905,527Net Income 2016: -$53,7532016Revenue 2017: $1,749,988Expenses 2017: $1,543,622Net Income 2017: $206,3662017Revenue 2019: $1,346,074Expenses 2019: $1,618,705Net Income 2019: -$272,6312019Revenue 2020: $1,512,302Expenses 2020: $1,054,633Net Income 2020: $457,6692020Revenue 2021: $661,263Expenses 2021: $897,153Net Income 2021: -$235,8902021Revenue 2022: $1,018,814Expenses 2022: $822,467Net Income 2022: $196,3472022Revenue 2024: $881,149Expenses 2024: $746,121Net Income 2024: $135,0282024

Highlighted filing

2015

Revenue$924,594
Expenses$879,205
Net Income$45,389
Jump To
Filing Snapshot
Filing Period
Feb 1, 2014 to Jan 31, 2015
Signed
Oct 29, 2015
Return Version
2014v5.0
Gross Receipts
$924,594
Mission and Program Overview

Mission

Launchyourcity supports the earliest stages of entrepreneurship in memphis with dynamic programs that are designed to help potential entrepreneurs to take the first actionable steps of starting a new business. Additionally, launchyourcity supplies a co-working environment to lower the economic barrier of entry to incubation along with ad hoc mentoring. For startups and businesses, launchyourcity provides memphis' only dynamic innovation economy programming to keep up-to-speed on the latest trends.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$6,838$74,138▲ $67,300
Cash and Non-Interest-Bearing Accounts$-718$73,390▲ $74,108
Land, Buildings, and Equipment, Net$7,554$8,387▲ $833
Total Assets$73,674$219,915▲ $146,241
Other Assets Total$60,000$64,000▲ $4,000
Liabilities
Other Liabilities$25,000$130,202▲ $105,202
Accounts Payable and Accrued Expenses$6,005$1,655▼ $4,350
Total Liabilities$31,005$131,857▲ $100,852
Net Assets / Fund Balance
Unrestricted Net Assets$42,669$88,058▲ $45,389
Total Net Assets Fund Balance$42,669$88,058▲ $45,389
Total Liabilities and Net Assets / Fund Balance$73,674$219,915▲ $146,241

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$8,387$17,280$25,667
Other Assets Org$250--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Andre FowlkesPresidentFT$60,000$60,000
Eric MathewsCEO & FounderFT$57,500$57,500

Board Members and Trustees

NameTitle
Brad SilverBoard Member
Chris WilliamsBoard Member
Darrell CobbinsBoard Member
Douglas ScarboroBoard Member
Gwin ScottBoard Member
Sridhar SunkaraBoard Member
Thomas HusseyBoard Member
Tom BakerBoard Member
Elizabeth LemmondsChief Brand Officer
Revenue and Support

Revenue Composition

Contributions and Grants
$882,699
Program Service Revenue
$41,749
Investment Income
$146
Other Revenue
$0
All Other Contributions
$794,877
Change in Net Assets
$45,389
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$549,686
Grants and Similar Amounts Paid$200,000
Salaries, Compensation, and Employee Benefits$129,519
Total Fundraising Expense$126,620
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$200,000--$200,000
Fees for Services Other$100,667$38,063$33,166$171,896
Current Officers, Directors, Trustees, and Key Employees$39,167$39,167$39,166$117,500
Occupancy$97,988--$97,988
Advertising$33,237-$33,237$66,474
Travel$21,051-$21,051$42,102
All Other Expenses$16,173$7,738-$23,911
Fees for Services Legal-$19,572-$19,572
Other Expenses$12,896--$12,896
Other Salaries and Wages$10,243--$10,243
Fees for Services Accounting-$8,330-$8,330
Office Expenses$7,959--$7,959
Depreciation Depletion$6,321--$6,321
Payroll Taxes$1,276--$1,276
Other Employee Benefits$500--$500
Total Functional Expenses$639,715$112,870$126,620$879,205
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
JumpstartCleveland, OH-Ecosystem Support and Development$150,000
New Memphis InstituteMemphis, TN-Ecosystem Support and Development$50,000
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Wra Fund Ii$70,551
Due to Wra Fund I$59,465
Due to Matt$186
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11

The accountant preparing form 990 presents a copy to the board of directors and executives for approval before filing.

Form 990, Part VI, Section C, Line 19

The financial statements and form 990 for launchyourcity dba launchmemphis are available upon request from the organization's executives or a member of the board.

Filing and Contact Details

Filer

Filer Name
Launchyourcity
EIN
26-3190220
Phone
9012137795
Address
88 UNION AVENUE 2ND FLOOR, MEMPHIS, TN 38103
Doing Business As
Startco

Signing Officer

Name
Eric Mathews
Title
President
Phone
9012137795
Signed
2015-10-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Eric Mathews
Formed
2008
Legal Domicile
Tn
Voting Board Members
13
Independent Board Members
13
Employees
0
Volunteers
0

Preparer

Firm
The Marston Group Plc
Address
1661 INTERNATIONAL DRIVE SUITE 250, MEMPHIS, TN 38120
Preparer
Jeremy B Harbor CPA
Phone
9017613003
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Outside services: program service expenses 1,250. Management and general expenses 38,063. Fundraising expenses 0. Total expenses 39,313. Mentor compensation: program service expenses 12,750. Management and general expenses 0. Fundraising expenses 0. Total expenses 12,750. Consulting: program service expenses 86,667. Management and general expenses 0. Fundraising expenses 33,166. Total expenses 119,833.

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IRS990/ProgSrvcAccomActy2Grp/Desc0FUELFILM IS ENGAGED IN PROMOTING GROWTH OF THE MEMPHIS FILM INDUSTRY THROUGH EDUCATION OF FILMMAKERS, PRODUCERS, INVESTORS AND THE BUSINESS COMMUNITY IN BEST PRACTICES OF FILM FINANCE, INVESTMENT AND THE BUSINESS OF FILM, AND TO FACILITATE AND ENCOURAGE THE RELATIONSHIPS BETWEEN THEM.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt06746
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt06303
IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt0632969
IRS990/ProgSrvcAccomActyOtherGrp/GrantAmt0200000
IRS990/ProgSrvcAccomActyOtherGrp/RevenueAmt031046
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0445977
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0256
IRS990/PYOtherExpensesAmt0352849
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt030240
IRS990/PYRevenuesLessExpensesAmt0-19709
IRS990/PYSalariesCompEmpBnftPaidAmt0143333
IRS990/PYTotalExpensesAmt0496182
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0476473
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt045389
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt04400
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0869877
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0450977
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0112121
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt01432975
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0146
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt0256
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0254
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0656
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0234552
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.99950
IRS990ScheduleA/PublicSupportPY170Pct00.99910
IRS990ScheduleA/PublicSupportTotal170Amt01432975
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0869877
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0450977
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0112121
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01432975
IRS990ScheduleA/TotalSupportAmt01433631
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/EquipmentGrp/BookValueAmt08387
IRS990ScheduleD/EquipmentGrp/DepreciationAmt017280
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt025667
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt060000
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt13500
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt2250
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt3250
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0UPSTART
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1DUE FROM WOLF RIVER ANGELS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2DUE FROM WOLF RIVER PARTNERS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3DUE FROM WOLF RIVER PARTNERS II
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt059465
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt170551
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2186
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO WRA FUND I
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1DUE TO WRA FUND II
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2DUE TO MATT
IRS990ScheduleD/TotalBookValueLandBuildingsAmt08387
IRS990ScheduleD/TotalBookValueOtherAssetsAmt064000
IRS990ScheduleD/TotalLiabilityAmt0130202
IRS990ScheduleI/GrantRecordsMaintainedInd00
IRS990ScheduleI/RecipientTable/CashGrantAmt050000
IRS990ScheduleI/RecipientTable/CashGrantAmt1150000
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0ECOSYSTEM SUPPORT AND DEVELOPMENT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1ECOSYSTEM SUPPORT AND DEVELOPMENT
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0NEW MEMPHIS INSTITUTE
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1JUMPSTART
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt022 NO FRONT ST SUITE 500
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt16701 CARNEGIE AVENUE SUITE 100
IRS990ScheduleI/RecipientTable/USAddress/CityNm0MEMPHIS
IRS990ScheduleI/RecipientTable/USAddress/CityNm1CLEVELAND
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0TN
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1OH
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd038103
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd144103
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ACCOUNTANT PREPARING FORM 990 PRESENTS A COPY TO THE BOARD OF DIRECTORS AND EXECUTIVES FOR APPROVAL BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FINANCIAL STATEMENTS AND FORM 990 FOR LAUNCHYOURCITY DBA LAUNCHMEMPHIS ARE AVAILABLE UPON REQUEST FROM THE ORGANIZATION'S EXECUTIVES OR A MEMBER OF THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2OUTSIDE SERVICES: PROGRAM SERVICE EXPENSES 1,250. MANAGEMENT AND GENERAL EXPENSES 38,063. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 39,313. MENTOR COMPENSATION: PROGRAM SERVICE EXPENSES 12,750. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 12,750. CONSULTING: PROGRAM SERVICE EXPENSES 86,667. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 33,166. TOTAL EXPENSES 119,833.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART IX, LINE 11G
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0TN
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt073674
IRS990/TotalAssetsEOYAmt0219915
IRS990/TotalAssetsGrp/BOYAmt073674
IRS990/TotalAssetsGrp/EOYAmt0219915
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0882699
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt0126620
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0112870
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0639715
IRS990/TotalFunctionalExpensesGrp/TotalAmt0879205
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt031005
IRS990/TotalLiabilitiesEOYAmt0131857
IRS990/TotalLiabilitiesGrp/BOYAmt031005
IRS990/TotalLiabilitiesGrp/EOYAmt0131857
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt042669
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt088058
IRS990/TotalOtherCompensationAmt00
IRS990/TotalOtherProgSrvcExpenseAmt0632969
IRS990/TotalOtherProgSrvcGrantAmt0200000
IRS990/TotalOtherProgSrvcRevenueAmt031046
IRS990/TotalProgramServiceExpensesAmt0639715
IRS990/TotalProgramServiceRevenueAmt041749
IRS990/TotalReportableCompFromOrgAmt0117500
IRS990/TotalRevenueGrp/ExclusionAmt0146
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt041749
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0924594
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt073674
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0219915
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/FundraisingAmt021051
IRS990/TravelGrp/ProgramServicesAmt021051
IRS990/TravelGrp/TotalAmt042102
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00

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