Civic Intelligence

Launchyourcity Inc.

990 • Fiscal year 2021 • EIN 26-3190220

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 15, 2022

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

100th percentile

7.60x

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

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Liabilities / Revenue

87th percentile

0.63x

Higher debt load relative to revenue than 87% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Net Margin

8th percentile

-36%

Higher net margin than 8% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Top Officer Pay

74th percentile

$64,250

Higher top officer pay than 74% of similar nonprofits.

Top officer pay equals 9.7% of source-year revenue.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Asset Growth

1st percentile

-71%

Faster asset growth than 1% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Revenue Growth

5th percentile

-56%

Faster revenue growth than 5% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Assets

Down

$54,537

Down $131,604 (-71%) from 2020

Net Assets

Down

-$359,915

Down $235,890 (-190%) from 2020

Liabilities

Up

$414,452

Up $104,286 (+34%) from 2020

Revenue

Down

$661,263

Down $851,039 (-56%) from 2020

Expenses

Down

$897,153

Down $157,480 (-15%) from 2020

Net Income

Down

-$235,890

Down $693,559 (-152%) from 2020

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

2021

Assets$54,537
Liabilities$414,452
Net Assets-$359,915

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

2021

Revenue$661,263
Expenses$897,153
Net Income-$235,890
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 15, 2022
Return Version
2021v4.2
Gross Receipts
$661,263
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$72,149$26,250▼ $45,899
Cash and Non-Interest-Bearing Accounts$91,660$13,072▼ $78,588
Investments Other Securities$7,594$7,594→ $0
Land, Buildings, and Equipment, Net$13,105$5,188▼ $7,917
Total Assets$186,141$54,537▼ $131,604
Other Assets Total$1,633$2,433▲ $800
Liabilities
Other Liabilities$158,895$166,895▲ $8,000
Accounts Payable and Accrued Expenses$31,271$127,557▲ $96,286
Mortgage Notes Payable Secured by Investment Property$120,000$120,000→ $0
Total Liabilities$310,166$414,452▲ $104,286
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-124,025$-359,915▼ $235,890
Total Net Assets Fund Balance$-124,025$-359,915▼ $235,890
Total Liabilities and Net Assets / Fund Balance$186,141$54,537▼ $131,604

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$5,188$72,653$77,841
Other Securities$994--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Eric MathewsCEO, President, FounderFT$64,250$64,250
Andre FowklesCo-president, Observer BoaFT$50,745$50,745

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
Revenue and Support

Revenue Composition

Contributions and Grants
$216,251
Program Service Revenue
$437,791
Investment Income
$21
Other Revenue
$7,200
All Other Contributions
$118,751
Change in Net Assets
$-235,890

Audited Revenue Reconciliation

Revenue per Audited Statements
$661,263
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$661,263
Total Revenue per Form 990
$661,263
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$541,004
Other Expenses$356,149
Total Fundraising Expense$73,645
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$300,603$37,575$37,575$375,753
Current Officers, Directors, Trustees, and Key Employees$91,996$11,500$11,500$114,996
Fees for Services Other$68,267$32,489-$100,756
Occupancy$68,326$8,541$8,541$85,408
Fees for Services Accounting-$30,405-$30,405
Payroll Taxes$21,371$2,671$2,671$26,713
Other Employee Benefits$18,834$2,354$2,354$23,542
Travel-$12,116-$12,116
Other Expenses$7,380$939$922$9,241
Insurance$6,401$800$800$8,001
Depreciation Depletion$6,334$792$792$7,918
Fees for Services Legal-$7,080-$7,080
Interest-$6,000-$6,000
All Other Expenses$3,775$1,499$284$5,558
Office Expenses$407$697-$1,104
Advertising-$498-$498
Total Functional Expenses$659,346$164,162$73,645$897,153

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$897,152
Total Expenses per Audited Statements$897,152
Total Expenses per Form 990$897,152
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$156,895
Deferred Revenue$10,000
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
2022-11-15
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 IX, Line 11G

Consulting: program service expenses 68,267. Management and general expenses 31,420. Fundraising expenses 0. Total expenses 99,687. Contract services: program service expenses 0. Management and general expenses 1,069. Fundraising expenses 0. Total expenses 1,069.

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IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt02354
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt02354
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt018834
IRS990/OtherEmployeeBenefitsGrp/TotalAmt023542
IRS990/OtherExpensesGrp/Desc0ECOSYSTEM DEVELOPMENT
IRS990/OtherExpensesGrp/Desc1COMMUNITY DEVELOPMENT
IRS990/OtherExpensesGrp/Desc2EVENTS
IRS990/OtherExpensesGrp/Desc3INTERNET & TELEPHONE
IRS990/OtherExpensesGrp/FundraisingAmt03854
IRS990/OtherExpensesGrp/FundraisingAmt12591
IRS990/OtherExpensesGrp/FundraisingAmt21761
IRS990/OtherExpensesGrp/FundraisingAmt3922
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt03854
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt12591
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt21761
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt3939
IRS990/OtherExpensesGrp/ProgramServicesAmt030833
IRS990/OtherExpensesGrp/ProgramServicesAmt120730
IRS990/OtherExpensesGrp/ProgramServicesAmt214089
IRS990/OtherExpensesGrp/ProgramServicesAmt37380
IRS990/OtherExpensesGrp/TotalAmt038541
IRS990/OtherExpensesGrp/TotalAmt125912
IRS990/OtherExpensesGrp/TotalAmt217611
IRS990/OtherExpensesGrp/TotalAmt39241
IRS990/OtherLiabilitiesGrp/BOYAmt0158895
IRS990/OtherLiabilitiesGrp/EOYAmt0166895
IRS990/OtherRevenueMiscGrp/BusinessCd0541900
IRS990/OtherRevenueMiscGrp/Desc0OTHER REVENUE
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt07200
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt07200
IRS990/OtherRevenueTotalAmt07200
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt037575
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt037575
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0300603
IRS990/OtherSalariesAndWagesGrp/TotalAmt0375753
IRS990/OtherWebsiteInd0X
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/FundraisingAmt02671
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt02671
IRS990/PayrollTaxesGrp/ProgramServicesAmt021371
IRS990/PayrollTaxesGrp/TotalAmt026713
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0ERIC MATHEWS
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0541900
IRS990/ProgramServiceRevenueGrp/Desc0ENTREPRENEUR TRAINING
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0437791
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0437791
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0298445
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt036
IRS990/PYOtherExpensesAmt0526618
IRS990/PYOtherRevenueAmt020416
IRS990/PYProgramServiceRevenueAmt01193405
IRS990/PYRevenuesLessExpensesAmt0457669
IRS990/PYSalariesCompEmpBnftPaidAmt0528015
IRS990/PYTotalExpensesAmt01054633
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt01512302
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0-235890
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd01
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0507591
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0661242
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt01512266
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt01345931
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt01011225
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0719067
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt05249731
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt021
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt036
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0143
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0216
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0213
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0629
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0370653
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.99990
IRS990ScheduleA/PublicSupportPY170Pct00.99980
IRS990ScheduleA/PublicSupportTotal170Amt05249731
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0661242
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt01512266
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt01345931
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt01011225
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0719067
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt05249731
IRS990ScheduleA/TotalSupportAmt05250360
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/BookValueAmt05188
IRS990ScheduleD/EquipmentGrp/DepreciationAmt072653
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt077841
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0897152
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0156895
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt110000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO WOLF RIVER ANGELS FUND III, LP
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1DEFERRED REVENUE
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt06600
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt1994
IRS990ScheduleD/OtherSecuritiesGrp/Desc0MARKETABLE SECURITIES
IRS990ScheduleD/OtherSecuritiesGrp/Desc1INVESTMENT BOOSTERVILLE
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0C
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd1C
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0661263
IRS990ScheduleD/TotalBookValueLandBuildingsAmt05188
IRS990ScheduleD/TotalBookValueSecuritiesAmt07594
IRS990ScheduleD/TotalExpensesPerForm990Amt0897152
IRS990ScheduleD/TotalLiabilityAmt0166895
IRS990ScheduleD/TotalRevenuePerForm990Amt0661263
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0661263
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0897152
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/ExplanationTxt2CONSULTING: PROGRAM SERVICE EXPENSES 68,267. MANAGEMENT AND GENERAL EXPENSES 31,420. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 99,687. CONTRACT SERVICES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 1,069. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,069.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
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/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0186141
IRS990/TotalAssetsEOYAmt054537
IRS990/TotalAssetsGrp/BOYAmt0186141
IRS990/TotalAssetsGrp/EOYAmt054537
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0216251
IRS990/TotalEmployeeCnt07
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt073645
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0164162
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0659346

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