Civic Intelligence

Launchyourcity Inc.

990 • Fiscal year 2019 • EIN 26-3190220

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 10, 2020

Organization ProfileWWW.NEVERSTOP.CO
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

100th percentile

5.84x

Higher debt load relative to assets than 100% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

80th percentile

0.52x

Higher debt load relative to revenue than 80% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

13th percentile

-20%

Higher net margin than 13% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

63rd percentile

$87,500

Higher top officer pay than 63% of similar nonprofits.

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

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

2nd percentile

-46%

Faster asset growth than 2% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

84th percentile

36%

Faster revenue growth than 84% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets100th percentile

Assets

Down

$120,185

Down $239,625 (-67%) from 2017

Net Assets

Down

-$581,694

Down $822,554 (-342%) from 2017

Liabilities

Up

$701,879

Up $582,929 (+490%) from 2017

Revenue And Expenses
Liabilities / Revenue80th percentileNet Margin13th percentile

Revenue

Down

$1,346,074

Down $403,914 (-23%) from 2017

Expenses

Up

$1,618,705

Up $75,083 (+4.9%) from 2017

Net Income

Down

-$272,631

Down $478,997 (-232%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth2nd percentile

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

2019

Assets$120,185
Liabilities$701,879
Net Assets-$581,694
Open 2019 Filing

Operations Trend

Revenue Growth84th percentile

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

2019

Revenue$1,346,074
Expenses$1,618,705
Net Income-$272,631
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 10, 2020
Return Version
2019v5.1
Gross Receipts
$1,346,074
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$159,415$46,200▼ $113,215
Cash and Non-Interest-Bearing Accounts$118,697$32,036▼ $86,661
Land, Buildings, and Equipment, Net$7,856$22,015▲ $14,159
Investments Other Securities$7,594$7,594→ $0
Prepaid Expenses and Deferred Charges$4,856$1,515▼ $3,341
Total Assets$349,982$120,185▼ $229,797
Other Assets Total$51,564$10,825▼ $40,739
Liabilities
Other Liabilities$388,545$317,704▼ $70,841
Accounts Payable and Accrued Expenses$61,131$264,175▲ $203,044
Mortgage Notes Payable Secured by Investment Property-$120,000-
Total Liabilities$449,676$701,879▲ $252,203
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-99,694$-581,694▼ $482,000
Total Net Assets Fund Balance$-99,694$-581,694▼ $482,000
Total Liabilities and Net Assets / Fund Balance$349,982$120,185▼ $229,797

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$19,052$55,827$74,879
Leasehold Improvements$2,963$9,257$12,220
Other Assets Org$913--
Other Securities$994--
Compensation and Service Providers
Top Officer Pay63rd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Eric MathewsCEO, President, FounderFT$87,500$87,500
Andre FowklesCo-president, Observer BoaFT$83,333$83,333

Board Members and Trustees

NameTitle
Charles BeechBoard Member
Chris WilliamsBoard Member
Douglas ScarboroBoard Member
Gwin ScottBoard Member
Phil BlumBoard Member
Thomas HusseyBoard Member
Tom BakerBoard Member
Darrell CobbinsBoard Member, Secretary
Brad SilverBoard Member, Treasurer
Chip MarstonCPA, Observer Board Member
Jimmy DickeyCPA, Observer Board Member
Emily BrackstoneLegal Counsel, Observer Bo
John OglePart-time CFO, Observer Bo
Revenue and Support

Revenue Composition

Contributions and Grants
$246,955
Program Service Revenue
$1,088,319
Investment Income
$143
Other Revenue
$10,657
All Other Contributions
$246,955
Change in Net Assets
$-272,631

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,346,074
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$1,346,074
Total Revenue per Form 990
$1,346,074
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,072,964
Salaries, Compensation, and Employee Benefits$545,741
Total Fundraising Expense$153,067
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$258,620$32,328$32,328$323,276
Occupancy$167,630$20,941$20,941$209,512
Current Officers, Directors, Trustees, and Key Employees$136,667$17,083$17,083$170,833
Travel$50,102$19,189$32,559$101,850
Advertising$47,516--$47,516
Payroll Taxes$30,511$3,814$3,814$38,139
Fees for Services Other$26,000$2,677-$28,677
Other Expenses$16,755$2,094$2,094$20,943
Office Expenses$17,667$727$577$18,971
Fees for Services Legal$18,163--$18,163
All Other Expenses$9,639$7,580-$17,219
Fees for Services Accounting-$16,616-$16,616
Other Employee Benefits$10,794$1,349$1,350$13,493
Insurance$7,913$989$989$9,891
Depreciation Depletion-$8,957-$8,957
Interest-$2,653-$2,653
Total Functional Expenses$1,326,554$139,084$153,067$1,618,705

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,618,705
Total Expenses per Audited Statements$1,618,705
Total Expenses per Form 990$1,618,705
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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 Wolf River Angels Fund Iii, Lp$161,674
American Express$105,588
Deferred Revenue$50,000
Aglaunch Holding$442
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Audit committee
No
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
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 11B

“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
Start Co

Signing Officer

Name
Eric Mathews
Title
President
Phone
9012137795
Signed
2020-11-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Eric Mathews
Formed
2008
Legal Domicile
Tn
Voting Board Members
10
Independent Board Members
10
Employees
7
Volunteers
0

Preparer

Firm
The Marston Group Plc
Address
1661 INTERNATIONAL DRIVE SUITE 250, MEMPHIS, TN 38120
Preparer
Susan M Lattimore
Phone
9017613003
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Adjustments pursuant to prior year audited financials -209,369.”

Raw XML AppendixShowing 400 of 519 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ActivityOrMissionDesc0LAUNCHYOURCITY 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.
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IRS990/Form990PartVIISectionAGrp/TitleTxt0CEO, PRESIDENT, FOUNDER
IRS990/Form990PartVIISectionAGrp/TitleTxt1CO-PRESIDENT, OBSERVER BOA
IRS990/Form990PartVIISectionAGrp/TitleTxt2BOARD MEMBER, SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt3BOARD MEMBER, TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt4BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt5BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt6BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt7BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt8BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt9BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt10BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt11LEGAL COUNSEL, OBSERVER BO
IRS990/Form990PartVIISectionAGrp/TitleTxt12CPA, OBSERVER BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt13CPA, OBSERVER BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt14PART-TIME CFO, OBSERVER BO
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IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0LAUNCHYOURCITY 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.
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IRS990/OccupancyGrp/TotalAmt0209512
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IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt0727
IRS990/OfficeExpensesGrp/ProgramServicesAmt017667
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IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
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IRS990/OtherEmployeeBenefitsGrp/TotalAmt013493
IRS990/OtherExpensesGrp/Desc0EVENT EXPENSES
IRS990/OtherExpensesGrp/Desc1COMMUNITY DEVELOPMENT
IRS990/OtherExpensesGrp/Desc2INTERNET & TELEPHONE
IRS990/OtherExpensesGrp/Desc3SUPPLIES
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IRS990/OtherExpensesGrp/FundraisingAmt12087
IRS990/OtherExpensesGrp/FundraisingAmt22094
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IRS990/OtherExpensesGrp/ProgramServicesAmt1134313
IRS990/OtherExpensesGrp/ProgramServicesAmt220357
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IRS990/OtherExpensesGrp/TotalAmt224531
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IRS990/OtherWebsiteInd0X
IRS990/PartialLiquidationInd00
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IRS990/PoliticalCampaignActyInd00
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IRS990/PrincipalOfficerNm0ERIC MATHEWS
IRS990/ProfessionalFundraisingInd00
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IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt01116295
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IRS990/ReconcilationRevenueExpnssAmt0-272631
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
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IRS990/ReportLandBuildingEquipmentInd01
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IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt01098976
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt01011225
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0719067
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt01639625
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0809625
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IRS990ScheduleD/ExpensesSubtotalAmt01618705
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IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt012220
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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt53274
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt68508
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt7-28750
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt8913
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0DUE FROM WOLF RIVER ANGELS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1DUE FROM WOLF RIVER PARTNERS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2DUE FROM CAPITAL C SCHOOL
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3DUE FROM VENTURE C CORP
IRS990ScheduleD/OtherAssetsOrgGrp/Desc4DUE FROM WOLF RIVER ANGELS II
IRS990ScheduleD/OtherAssetsOrgGrp/Desc5DUE FROM WOLF RIVER PARTNERS II
IRS990ScheduleD/OtherAssetsOrgGrp/Desc6DUE FROM WOLF RIVER ANGELS I
IRS990ScheduleD/OtherAssetsOrgGrp/Desc7WOLF RIVER ANGELS FUND II
IRS990ScheduleD/OtherAssetsOrgGrp/Desc8DUE FROM WOLF RIVER ANGELS III
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0105588
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Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$120,185
Liabilities
$701,879
Net assets
-$581,694
Revenue
$1,346,074
Expenses
$1,618,705
Net income
-$272,631
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.11$0.39$0.28$0.88$0.75$0.14
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.20$0.40$0.19$1.02$0.82$0.20
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.05$0.41$0.36$0.66$0.90$0.24
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.19$0.31$0.12$1.51$1.05$0.46
2019Detailed filing. Detailed filing data is available for this year.$0.12$0.70$0.58$1.35$1.62$0.27
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.36$0.12$0.24$1.75$1.54$0.21
2016Detailed filing. Detailed filing data is available for this year.$0.13$0.10$0.03$0.85$0.91$0.05
2015Detailed filing. Detailed filing data is available for this year.$0.22$0.13$0.09$0.92$0.88$0.05
2014Detailed filing. Detailed filing data is available for this year.$0.07$0.03$0.04$0.48$0.50$0.02
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.18$0.12$0.06$0.19
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2019 filings • 501(c)3 • $1M-$5M nonprofits