Civic Intelligence

Launchyourcity Inc.

990 • Fiscal year 2020 • EIN 26-3190220

Jan 01, 2020 to Dec 31, 2020 • Filed on Aug 26, 2021

140 S Main St 3Collierville, TN 38017

(901) 213-7795

Siviq Scores

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

Liabilities / Assets

97th percentile

1.67x

Higher debt load relative to assets than 97% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

60th percentile

0.21x

Higher debt load relative to revenue than 60% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

81st percentile

30%

Higher net margin than 81% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

73rd percentile

$109,947

Higher top officer pay than 73% of similar nonprofits.

Top officer pay equals 7.3% of source-year revenue.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

87th percentile

55%

Faster asset growth than 87% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

68th percentile

12%

Faster revenue growth than 68% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Assets

Up

$186,141

Up $65,956 (+55%) from 2019

Net Assets

Up

-$124,025

Up $457,669 (+79%) from 2019

Liabilities

Down

$310,166

Down $391,713 (-56%) from 2019

Revenue

Up

$1,512,302

Up $166,228 (+12%) from 2019

Expenses

Down

$1,054,633

Down $564,072 (-35%) from 2019

Net Income

Up

$457,669

Up $730,300 (+268%) from 2019

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

2020

Assets$186,141
Liabilities$310,166
Net Assets-$124,025

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

2020

Revenue$1,512,302
Expenses$1,054,633
Net Income$457,669
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Aug 26, 2021
Return Version
2020v4.1
Gross Receipts
$1,512,302
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
Cash and Non-Interest-Bearing Accounts$32,036$91,660▲ $59,624
Accounts Receivable$46,200$72,149▲ $25,949
Land, Buildings, and Equipment, Net$22,015$13,105▼ $8,910
Investments Other Securities$7,594$7,594→ $0
Prepaid Expenses and Deferred Charges$1,515--
Total Assets$120,185$186,141▲ $65,956
Other Assets Total$10,825$1,633▼ $9,192
Liabilities
Other Liabilities$317,704$158,895▼ $158,809
Mortgage Notes Payable Secured by Investment Property$120,000$120,000→ $0
Accounts Payable and Accrued Expenses$264,175$31,271▼ $232,904
Total Liabilities$701,879$310,166▼ $391,713
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-581,694$-124,025▲ $457,669
Total Net Assets Fund Balance$-581,694$-124,025▲ $457,669
Total Liabilities and Net Assets / Fund Balance$120,185$186,141▲ $65,956

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$12,756$65,085$77,841
Leasehold Improvements$349$11,871$12,220
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Eric MathewsCEO, President, FounderFT$109,947$109,947
Andre FowklesCo-president, Observer BoaFT$93,208$93,208

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
$298,445
Program Service Revenue
$1,193,405
Investment Income
$36
Other Revenue
$20,416
All Other Contributions
$195,945
Change in Net Assets
$457,669

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,512,302
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$1,512,302
Total Revenue per Form 990
$1,512,302
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$528,015
Other Expenses$526,618
Total Fundraising Expense$84,499
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$217,090$27,136$27,136$271,362
Occupancy$167,568$20,946$20,946$209,460
Current Officers, Directors, Trustees, and Key Employees$162,524$20,316$20,316$203,156
Fees for Services Other$68,267$2,960-$71,227
Fees for Services Accounting-$48,400-$48,400
Payroll Taxes$30,864$3,858$3,858$38,580
Fees for Services Legal-$25,000-$25,000
Travel-$19,114-$19,114
Other Employee Benefits$11,933$1,492$1,492$14,917
Depreciation Depletion-$11,871-$11,871
Office Expenses$9,310$1,038-$10,348
Advertising-$9,823-$9,823
Insurance$6,401$800$800$8,001
Interest-$7,640-$7,640
All Other Expenses$2,561$2,287-$4,848
Other Expenses$2,400$300$300$3,000
Total Functional Expenses$756,128$214,006$84,499$1,054,633

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,054,633
Total Expenses per Audited Statements$1,054,633
Total Expenses per Form 990$1,054,633
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$158,895
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
140 S MAIN ST 3, COLLIERVILLE, TN 38017
Doing Business As
Start Co

Signing Officer

Name
Eric Mathews
Title
President
Phone
9012137795
Signed
2021-08-26
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
8
Volunteers
0

Preparer

Firm
The Marston Group Plc
Address
1661 INTERNATIONAL DRIVE SUITE 250, MEMPHIS, TN 38120
Preparer
Susan M Lattimore
Phone
9017613003
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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
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IRS990/Form990PartVIISectionAGrp/TitleTxt13CPA, OBSERVER BOARD MEMBER
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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.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt0120000
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt0120000
IRS990/NetAssetsOrFundBalancesBOYAmt0-581694
IRS990/NetAssetsOrFundBalancesEOYAmt0-124025
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt0-581694
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt0-124025
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/FundraisingAmt020946
IRS990/OccupancyGrp/ManagementAndGeneralAmt020946
IRS990/OccupancyGrp/ProgramServicesAmt0167568
IRS990/OccupancyGrp/TotalAmt0209460
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt01038
IRS990/OfficeExpensesGrp/ProgramServicesAmt09310
IRS990/OfficeExpensesGrp/TotalAmt010348
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt010825
IRS990/OtherAssetsTotalGrp/EOYAmt01633
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt01492
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt01492
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt011933
IRS990/OtherEmployeeBenefitsGrp/TotalAmt014917
IRS990/OtherExpensesGrp/Desc0COMMUNITY DEVELOPMENT
IRS990/OtherExpensesGrp/Desc1INTERNET & TELEPHONE
IRS990/OtherExpensesGrp/Desc2SUPPLIES
IRS990/OtherExpensesGrp/Desc3ECOSYSTEM DEVELOPMENT
IRS990/OtherExpensesGrp/FundraisingAmt06848
IRS990/OtherExpensesGrp/FundraisingAmt12357
IRS990/OtherExpensesGrp/FundraisingAmt2446
IRS990/OtherExpensesGrp/FundraisingAmt3300
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt06848
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt13731
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt2446
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt3300
IRS990/OtherExpensesGrp/ProgramServicesAmt054780
IRS990/OtherExpensesGrp/ProgramServicesAmt118860
IRS990/OtherExpensesGrp/ProgramServicesAmt23570
IRS990/OtherExpensesGrp/ProgramServicesAmt32400
IRS990/OtherExpensesGrp/TotalAmt068476
IRS990/OtherExpensesGrp/TotalAmt124948
IRS990/OtherExpensesGrp/TotalAmt24462
IRS990/OtherExpensesGrp/TotalAmt33000
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IRS990/OtherLiabilitiesGrp/EOYAmt0158895
IRS990/OtherRevenueMiscGrp/BusinessCd0541900
IRS990/OtherRevenueMiscGrp/Desc0OTHER REVENUE
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IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt020416
IRS990/OtherRevenueTotalAmt020416
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt027136
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt027136
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IRS990/OtherWebsiteInd0X
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/FundraisingAmt03858
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt03858
IRS990/PayrollTaxesGrp/ProgramServicesAmt030864
IRS990/PayrollTaxesGrp/TotalAmt038580
IRS990/PoliticalCampaignActyInd00
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IRS990/PrincipalOfficerNm0ERIC MATHEWS
IRS990/ProfessionalFundraisingInd00
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IRS990/ProgramServiceRevenueGrp/Desc0ENTREPRENEUR TRAINING
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt0143
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IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0478787
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt01639625
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt06228114
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IRS990/ScheduleBRequiredInd01
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt065085
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IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
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IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0349
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt011871
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt012220
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0158895
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO WOLF RIVER ANGELS FUND III, LP
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IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt01512302
IRS990ScheduleD/TotalBookValueLandBuildingsAmt013105
IRS990ScheduleD/TotalExpensesPerForm990Amt01054633
IRS990ScheduleD/TotalLiabilityAmt0158895
IRS990ScheduleD/TotalRevenuePerForm990Amt01512302
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01512302
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01054633
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/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00

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