Civic Intelligence

Launch New York Inc.

990 • Fiscal year 2021 • EIN 45-3980649

Jan 01, 2021 to Dec 31, 2021 • Filed on Aug 25, 2022

Organization ProfileWWW.LAUNCHNY.ORG

View Organization Page

77 Goodell Street 201Buffalo, NY 14203

(716) 200-0961

Siviq Scores

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

Liabilities / Assets

41st percentile

0.13x

Higher debt load relative to assets than 41% of similar nonprofits.

2021 filings • NTEE S • $5M-$10M nonprofits • Source year 2021

Liabilities / Revenue

44th percentile

0.33x

Higher debt load relative to revenue than 44% of similar nonprofits.

2021 filings • NTEE S • $5M-$10M nonprofits • Source year 2021

Net Margin

90th percentile

37%

Higher net margin than 90% of similar nonprofits.

2021 filings • NTEE S • $5M-$10M nonprofits • Source year 2021

Top Officer Pay

72nd percentile

$258,000

Higher top officer pay than 72% of similar nonprofits.

Top officer pay equals 8.4% of source-year revenue.

2021 filings • NTEE S • $5M-$10M nonprofits • Source year 2021

Asset Growth

84th percentile

31%

Faster asset growth than 84% of similar nonprofits.

2021 filings • NTEE S • $5M-$10M nonprofits • Annualized from 2020 to 2021

Revenue Growth

22nd percentile

-12%

Faster revenue growth than 22% of similar nonprofits.

2021 filings • NTEE S • $5M-$10M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets41st percentile

Assets

Up

$7,715,825

Up $1,805,038 (+31%) from 2020

Net Assets

Up

$6,693,215

Up $1,128,388 (+20%) from 2020

Liabilities

Up

$1,022,610

Up $676,650 (+196%) from 2020

Revenue And Expenses
Liabilities / Revenue44th percentileNet Margin90th percentile

Revenue

Down

$3,066,885

Down $403,680 (-12%) from 2020

Expenses

Up

$1,932,980

Up $76,264 (+4.1%) from 2020

Net Income

Down

$1,133,905

Down $479,944 (-30%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth84th percentile

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

$15M$10M$5.0M$0Assets 2012: $360,739Liabilities 2012: $359,260Net Assets 2012: $1,4792012Assets 2013: $422,153Liabilities 2013: $411,617Net Assets 2013: $10,5362013Assets 2014: $2,711,716Liabilities 2014: $2,608,170Net Assets 2014: $103,5462014Assets 2015: $329,052Liabilities 2015: $184,037Net Assets 2015: $145,0152015Assets 2016: $2,830,043Liabilities 2016: $2,444,410Net Assets 2016: $385,6332016Assets 2017: $2,402,374Liabilities 2017: $1,347,385Net Assets 2017: $1,054,9892017Assets 2018: $2,307,995Liabilities 2018: $186,362Net Assets 2018: $2,121,6332018Assets 2019: $4,156,529Liabilities 2019: $205,551Net Assets 2019: $3,950,9782019Assets 2020: $5,910,787Liabilities 2020: $345,960Net Assets 2020: $5,564,8272020Assets 2021: $7,715,825Liabilities 2021: $1,022,610Net Assets 2021: $6,693,2152021Assets 2022: $9,625,094Liabilities 2022: $981,324Net Assets 2022: $8,643,7702022Assets 2023: $11,956,487Liabilities 2023: $1,961,765Net Assets 2023: $9,994,7222023Assets 2024: $12,283,767Liabilities 2024: $1,303,784Net Assets 2024: $10,979,9832024

Highlighted filing

2021

Assets$7,715,825
Liabilities$1,022,610
Net Assets$6,693,215
Open 2021 Filing

Operations Trend

Revenue Growth22nd percentile

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2012: $173,130Expenses 2012: $171,651Net Income 2012: $1,4792012Revenue 2013: $810,567Expenses 2013: $801,511Net Income 2013: $9,0562013Revenue 2014: $3,930,141Expenses 2014: $3,837,131Net Income 2014: $93,0102014Revenue 2015: $939,548Expenses 2015: $949,003Net Income 2015: -$9,4552015Revenue 2016: $1,043,307Expenses 2016: $802,689Net Income 2016: $240,6182016Revenue 2017: $1,745,488Expenses 2017: $1,076,132Net Income 2017: $669,3562017Revenue 2018: $2,549,839Expenses 2018: $1,483,195Net Income 2018: $1,066,6442018Revenue 2019: $3,736,344Expenses 2019: $1,857,343Net Income 2019: $1,879,0012019Revenue 2020: $3,470,565Expenses 2020: $1,856,716Net Income 2020: $1,613,8492020Revenue 2021: $3,066,885Expenses 2021: $1,932,980Net Income 2021: $1,133,9052021Revenue 2022: $4,319,958Expenses 2022: $2,373,617Net Income 2022: $1,946,3412022Revenue 2023: $3,799,599Expenses 2023: $2,745,055Net Income 2023: $1,054,5442023Revenue 2024: $3,660,726Expenses 2024: $2,725,457Net Income 2024: $935,2692024

Highlighted filing

2021

Revenue$3,066,885
Expenses$1,932,980
Net Income$1,133,905
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Aug 25, 2022
Return Version
2021v4.2
Gross Receipts
$3,066,885
Mission and Program Overview

Mission

The organization's objective is to support underperforming entrepreneurships in upstate new york, by providing programs and services to entrepreneurs that assist business development and growth of start-up companies, with a particular goal of helping high-potential companies position themselves to recieve professional equity investments from angel, seed-stage, and venture capital investors.

To stimulate economic growth in economically underperforming areas in upstate new york.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$2,458,175$2,598,691▲ $140,516
Savings and Temporary Cash Investments$1,891,005$2,442,338▲ $551,333
Investments Other Securities$441,140$1,041,966▲ $600,826
Cash and Non-Interest-Bearing Accounts$428,748$833,017▲ $404,269
Pledges and Grants Receivable$435,230$439,277▲ $4,047
Prepaid Expenses and Deferred Charges$1,924$8,374▲ $6,450
Land, Buildings, and Equipment, Net$5,035$1,566▼ $3,469
Total Assets$5,910,787$7,715,825▲ $1,805,038
Other Assets Total$249,530$350,596▲ $101,066
Liabilities
Deferred Revenue-$475,000-
Accounts Payable and Accrued Expenses$233,459$297,610▲ $64,151
Mortgage Notes Payable Secured by Investment Property$112,501$250,000▲ $137,499
Total Liabilities$345,960$1,022,610▲ $676,650
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$5,514,827$6,693,215▲ $1,178,388
Net Assets With Donor Restrictions$50,000$0▼ $50,000
Total Net Assets Fund Balance$5,564,827$6,693,215▲ $1,128,388
Total Liabilities and Net Assets / Fund Balance$5,910,787$7,715,825▲ $1,805,038

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,566$37,979$39,545
Other Securities$1,041,966--
Compensation and Service Providers
Top Officer Pay72nd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Marion LavigneCEO/president/secretaryFT$190,000$68,000$258,000
Scott TerhaarCOO/treasurerFT$117,050$5,425$122,475

Board Members and Trustees

NameTitle
George ChamounBoard Member/chairperson
Jordan LevyBoard Member/vice Chairperson
Jennifer BeckageBoard Member
Maggie DornBoard Member
Mel PassarelliBoard Member
Melodie BakerBoard Member
Thomas LynchBoard Member
Zachary SchulmanBoard Member
Quincy AllenBoard Member (effective 1/8/2021)
Michael DefreitasAssistant Secretary

Highest Paid Contractors

ContractorServicesLocationCompensation
Thompson Hine LLPLegal Services3900 KEY CENTER 127 PUBLIC SQUARE, Cleveland, OH 44114$110,150
Revenue and Support

Revenue Composition

Contributions and Grants
$2,568,434
Program Service Revenue
$298,922
Investment Income
$193,628
Other Revenue
$5,901
All Other Contributions
$1,184,421
Change in Net Assets
$1,133,905
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,212,646
Salaries, Compensation, and Employee Benefits$720,334
Total Fundraising Expense$62,790
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$388,870$43,007$8,635$440,512
Current Officers, Directors, Trustees, and Key Employees$289,970$55,058$22,022$367,050
Other Salaries and Wages$187,253$35,553$14,223$237,029
Advertising$109,401-$3,384$112,785
Fees for Services Legal$70,807$12,953$2,591$86,351
Other Employee Benefits$46,740$8,875$3,550$59,165
Fees for Services Accounting$43,957$8,041$1,608$53,606
Payroll Taxes$35,963$6,829$2,731$45,523
Conferences and Meetings$32,613$5,966$1,194$39,773
Office Expenses$24,529$4,487$897$29,913
Occupancy$11,090$2,028$406$13,524
Pension Plan Contributions$9,138$1,735$694$11,567
Travel$6,175$1,129$226$7,530
Other Expenses$20,000$4,126$629$4,126
Depreciation Depletion-$3,469-$3,469
Insurance-$2,882-$2,882
Total Functional Expenses$1,670,909$199,281$62,790$1,932,980
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
Audit committee
No
Backup withholding compliance
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“The form 990 is prepared by an outside, independent accounting firm. The president/ceo, controller, treasurer, and the board of directors will review the 990 before it is filed.”

Form 990, Part VI, Section B, Line 12C

“All board members, officers and key personnel are required to sign a conflict of interest policy when they join the organization and update on an annual basis thereafter.”

Form 990, Part VI, Section B, Line 15A

“The ceo and coo salaries are determined by the board of directors. The positions include a written employment agreement. The president/ceo sets salaries for the staff positions based on labor market rates and individual qualifications of hired staff.”

Form 990, Part VI, Section C, Line 19

“The organization makes these documents available to the public online at the nys attorney general's charities bureau website or by request.”

Filing and Contact Details

Filer

Filer Name
Launch New York Inc
EIN
45-3980649
Phone
7162000961
Address
77 GOODELL STREET 201, BUFFALO, NY 14203

Signing Officer

Name
Marion Lavigne
Title
President/CEO
Phone
7162000961
Signed
2022-08-25
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Marion Lavigne
Formed
2011
Legal Domicile
Ny
Voting Board Members
9
Independent Board Members
9
Employees
10
Volunteers
9

Preparer

Firm
Freed Maxick Cpas Pc
Address
424 MAIN STREET SUITE 800, BUFFALO, NY 14202-3508
Preparer
Mary Madonia
Phone
7168472651
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Payroll fees: program service expenses 894. Management and general expenses 170. Fundraising expenses 68. Total expenses 1,132. Eir contractors: program service expenses 153,800. Management and general expenses 0. Fundraising expenses 0. Total expenses 153,800. Non-eir professional fees: program service expenses 234,176. Management and general expenses 42,837. Fundraising expenses 8,567. Total expenses 285,580.”

FORM 990, PART XI, LINE 9:

“Impairment of non-marketable securities -5,517.”

Financial Statement Notes

PART X, LINE 2:

“The organization is a not-for-profit entity as described in section 509(a)(1) of the internal revenue code and is exempt from income taxes under section 501(c)(3) of the code, and accordingly, no provision for federal taxes is included in the financial statements. Us gaap provides guidance on the financial statement recognition and measurement for income tax positions that the organization has taken or expects to take in the organization's income tax returns. The organization takes many tax positions relative to tax laws, including those taken in determining whether tax is due, a refund is owed, a tax return needs to be filed, or the characterization of income as taxable (for example, unrelated business income) or nontaxable. The organization has not recorded any liabilities relating to uncertain tax positions. The organization files its return of organization exempt from income tax in the u.s. Federal jurisdiction and its annual filing of charitable organization in new york state. For tax purposes the launch ny seed fund, llc is considered a disregarded entity.”

Raw XML AppendixShowing 400 of 622 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/MissionDesc0THE ORGANIZATION'S OBJECTIVE IS TO IDENTIFY, SUPPORT AND INVEST IN HIGH-GROWTH, HIGH-IMPACT COMPANIES THAT CAN TRANSFORM THE LOCAL ECONOMY AND CATALYZE THE ENTREPRENEURIAL CULTURE IN THE 27 COUNTIES COMPRISING THE WESTERN HALF OF UPSTATE NEW YORK BY PROVIDING PRO-BONO MENTORSHIP AND CAPITAL ACCESS PROGRAMS & SERVICES TO ENTREPRENEURS WITH A PARTICULAR GOAL OF HELPING SCALABLE STARTUPS POSITION THEMSELVES TO RECEIVE PROFESSIONAL EQUITY INVESTMENTS FROM LAUNCH NY AND ANGEL, SEED-STAGE, AND VENTURE CAPITAL INVESTORS.
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IRS990/PensionPlanContributionsGrp/FundraisingAmt0694
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt01735
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IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
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IRS990/ReportLandBuildingEquipmentInd01
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IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS A NOT-FOR-PROFIT ENTITY AS DESCRIBED IN SECTION 509(A)(1) OF THE INTERNAL REVENUE CODE AND IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE CODE, AND ACCORDINGLY, NO PROVISION FOR FEDERAL TAXES IS INCLUDED IN THE FINANCIAL STATEMENTS. US GAAP PROVIDES GUIDANCE ON THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT FOR INCOME TAX POSITIONS THAT THE ORGANIZATION HAS TAKEN OR EXPECTS TO TAKE IN THE ORGANIZATION'S INCOME TAX RETURNS. THE ORGANIZATION TAKES MANY TAX POSITIONS RELATIVE TO TAX LAWS, INCLUDING THOSE TAKEN IN DETERMINING WHETHER TAX IS DUE, A REFUND IS OWED, A TAX RETURN NEEDS TO BE FILED, OR THE CHARACTERIZATION OF INCOME AS TAXABLE (FOR EXAMPLE, UNRELATED BUSINESS INCOME) OR NONTAXABLE. THE ORGANIZATION HAS NOT RECORDED ANY LIABILITIES RELATING TO UNCERTAIN TAX POSITIONS. THE ORGANIZATION FILES ITS RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX IN THE U.S. FEDERAL JURISDICTION AND ITS ANNUAL FILING OF CHARITABLE ORGANIZATION IN NEW YORK STATE. FOR TAX PURPOSES THE LAUNCH NY SEED FUND, LLC IS CONSIDERED A DISREGARDED ENTITY.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$7,715,825
Liabilities
$1,022,610
Net assets
$6,693,215
Revenue
$3,066,885
Expenses
$1,932,980
Net income
$1,133,905
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.3$1.30$11.0$3.66$2.73$0.94
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$12.0$1.96$9.99$3.80$2.75$1.05
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.63$0.98$8.64$4.32$2.37$1.95
2021Detailed filing. Detailed filing data is available for this year.$7.72$1.02$6.69$3.07$1.93$1.13
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.91$0.35$5.56$3.47$1.86$1.61
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.16$0.21$3.95$3.74$1.86$1.88
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.31$0.19$2.12$2.55$1.48$1.07
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.40$1.35$1.05$1.75$1.08$0.67
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.83$2.44$0.39$1.04$0.80$0.24
2015Detailed filing. Detailed filing data is available for this year.$0.33$0.18$0.15$0.94$0.95$0.01
2014Detailed filing. Detailed filing data is available for this year.$2.71$2.61$0.10$3.93$3.84$0.09
2013Detailed filing. Detailed filing data is available for this year.$0.42$0.41$0.01$0.81$0.80$0.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.36$0.36$0.00$0.17$0.17$0.00