Civic Intelligence

Mhub

990 • Fiscal year 2018 • EIN 46-3388438

Jan 01, 2018 to Dec 31, 2018 • Filed on Nov 14, 2019

965 West Chicago AvenueChicago, IL 60642

(312) 248-8701

Siviq Scores

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

Liabilities / Assets

97th percentile

1.58x

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

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

84th percentile

0.89x

Higher debt load relative to revenue than 84% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

15th percentile

-17%

Higher net margin than 15% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

90th percentile

$201,266

Higher top officer pay than 90% of similar nonprofits.

Top officer pay equals 5.6% of source-year revenue.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

17th percentile

-7.7%

Faster asset growth than 17% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

83rd percentile

33%

Faster revenue growth than 83% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Assets

Down

$2,032,432

Down $169,932 (-7.7%) from 2017

Net Assets

Down

-$1,181,683

Down $601,661 (-104%) from 2017

Liabilities

Up

$3,214,115

Up $431,729 (+16%) from 2017

Revenue

Up

$3,601,090

Up $902,959 (+33%) from 2017

Expenses

Up

$4,202,751

Up $1,023,852 (+32%) from 2017

Net Income

Down

-$601,661

Down $120,893 (-25%) from 2017

Historical Trend

Balance Sheet Trend

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

$60M$40M$20M$0-$20MAssets 2014: $52,439Liabilities 2014: $110,2022014Assets 2015: $45,616Liabilities 2015: $170,4862015Assets 2016: $1,625,851Liabilities 2016: $1,725,105Net Assets 2016: -$99,2542016Assets 2017: $2,202,364Liabilities 2017: $2,782,386Net Assets 2017: -$580,0222017Assets 2018: $2,032,432Liabilities 2018: $3,214,115Net Assets 2018: -$1,181,6832018Assets 2019: $2,619,108Liabilities 2019: $4,974,895Net Assets 2019: -$2,355,7872019Assets 2020: $2,471,913Liabilities 2020: $5,241,104Net Assets 2020: -$2,769,1912020Assets 2021: $5,077,327Liabilities 2021: $5,653,331Net Assets 2021: -$576,0042021Assets 2022: $9,378,153Liabilities 2022: $4,389,540Net Assets 2022: $4,988,6132022Assets 2023: $49,982,089Liabilities 2023: $40,878,809Net Assets 2023: $9,103,2802023Assets 2024: $49,516,193Liabilities 2024: $41,659,763Net Assets 2024: $7,856,4302024

Highlighted filing

2018

Assets$2,032,432
Liabilities$3,214,115
Net Assets-$1,181,683

Operations Trend

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

$20M$10M$0-$10MRevenue 2014: $68,802Expenses 2014: $144,663Net Income 2014: -$75,8612014Revenue 2015: $159,625Expenses 2015: $226,732Net Income 2015: -$67,1072015Revenue 2016: $994,362Expenses 2016: $947,651Net Income 2016: $46,7112016Revenue 2017: $2,698,131Expenses 2017: $3,178,899Net Income 2017: -$480,7682017Revenue 2018: $3,601,090Expenses 2018: $4,202,751Net Income 2018: -$601,6612018Revenue 2019: $4,253,679Expenses 2019: $5,537,170Net Income 2019: -$1,283,4912019Revenue 2020: $5,944,206Expenses 2020: $6,357,610Net Income 2020: -$413,4042020Revenue 2021: $6,781,086Expenses 2021: $7,382,926Net Income 2021: -$601,8402021Revenue 2022: $9,116,950Expenses 2022: $8,178,780Net Income 2022: $938,1702022Revenue 2023: $18,808,429Expenses 2023: $9,195,037Net Income 2023: $9,613,3922023Revenue 2024: $9,621,327Expenses 2024: $10,868,177Net Income 2024: -$1,246,8502024

Highlighted filing

2018

Revenue$3,601,090
Expenses$4,202,751
Net Income-$601,661
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Nov 14, 2019
Return Version
2018v3.1
Gross Receipts
$3,603,269
Mission and Program Overview

Mission

Mhub is the nation's largest and fastest growing innovation center for hardtech and manufacturing. Mhub is a community of product designers, developers, entrepreneurs, engineers and manufacturers taking breakthrough products to market.

Foster a vibrant, inventive community that creates breakthrough products & boostes local economy

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,852,841$1,577,171▼ $275,670
Accounts Receivable$273,494$196,687▼ $76,807
Cash and Non-Interest-Bearing Accounts$60,849$177,090▲ $116,241
Prepaid Expenses and Deferred Charges-$74,594-
Loans From Officers Directors$70,000--
Total Assets$2,202,364$2,032,432▼ $169,932
Other Assets Total$15,180$6,890▼ $8,290
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,424,881$1,570,586▲ $145,705
Other Liabilities$1,103,091$971,787▼ $131,304
Deferred Revenue$46,610$410,386▲ $363,776
Accounts Payable and Accrued Expenses$137,804$261,356▲ $123,552
Total Liabilities$2,782,386$3,214,115▲ $431,729
Net Assets / Fund Balance
Unrestricted Net Assets$-580,022$-1,181,683▼ $601,661
Total Net Assets Fund Balance$-580,022$-1,181,683▼ $601,661
Total Liabilities and Net Assets / Fund Balance$2,202,364$2,032,432▼ $169,932

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$1,191,679$443,101$1,634,780
Equipment$385,492$235,277$620,769
Land$0--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Haven AllenChief Executive Officer and Co-founderFT$185,000$16,266$201,266
Haven Allen--$160,000$41,266$201,266
Manas MehandruChief Operating OfficerFT$155,000$15,475$170,475
Manas Mehandru--$140,000$30,475$170,475

Board Members and Trustees

NameTitle
Andrea ZoppBoard Director
Bob CarlsonBoard Director
Bob WeissbourdBoard Director
Caralynn Nowinski Collens MdBoard Director
Dave BoulayBoard Director
Doug BoersmaBoard Director
Edward ColemanBoard Director
Hugh SullivanBoard Director
Jacob BabcockBoard Director
Jeff MalehornBoard Director
Jeffrey MargolisBoard Director
Jian CaoBoard Director
Karen KerrBoard Director
Kevin WillerBoard Director
MEREDITH O'CONNORBoard Director
Mark L KarasekBoard Director
Mark TebbeBoard Director
Michael SeedmanBoard Director
Patricia MillerBoard Director
Roger ShoresBoard Director
Scott WilsonBoard Director
Steve KochBoard Director
Steven KaseBoard Director
Tom SimeoneBoard Director
Ushma KripianiBoard Director
Zack KaplanBoard Director
Revenue and Support

Revenue Composition

Contributions and Grants
$120,050
Program Service Revenue
$3,391,827
Investment Income
$4
Other Revenue
$89,209
All Other Contributions
$120,050
Change in Net Assets
$-601,661
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,756,156
Salaries, Compensation, and Employee Benefits$1,446,595
Total Fundraising Expense$121,679
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$1,160,178$0$0$1,160,178
Other Salaries and Wages$679,796$50,715$23,480$753,991
Current Officers, Directors, Trustees, and Key Employees$231,968$220,983$52,931$505,882
Depreciation Depletion$372,842$0$0$372,842
Advertising$223,912$0$15,296$239,208
Fees for Services Other$123,284$34,683$0$157,967
Interest$0$103,129$0$103,129
Other Employee Benefits$72,305$19,019$4,585$95,909
Payroll Taxes$69,926$16,302$4,585$90,813
Insurance$60,670$0$0$60,670
Office Expenses$36,068$23,803$0$59,871
Fees for Services Accounting$0$45,108$0$45,108
Travel$22,584$0$7,439$30,023
Other Expenses$28,325$0$0$28,325
Information Technology$23,466$0$0$23,466
Fees for Services Legal$0$2,005$0$2,005
All Other Expenses$50$0$0$50
Total Functional Expenses$3,565,325$515,747$121,679$4,202,751
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$70,000--
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred Rent$499,985
Lease Incentive Obligation$471,802
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
mHUB
EIN
46-3388438
Phone
3122488701
Address
965 West Chicago Avenue, Chicago, IL 60642

Signing Officer

Name
Haven Allen
Title
Chief Executive Officer
Phone
3122488701
Signed
2019-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Haven Allen
Formed
2013
Legal Domicile
Il
Voting Board Members
25
Independent Board Members
25
Employees
27
Volunteers
0

Preparer

Firm
Prado & Renteria CPAs Prof Corp
Address
1837 S Michigan Ave 2nd Fl, Chicago, IL 60616
Preparer
Patricia Fear
Phone
3125671330
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

The form 990 is prepare by a cpa firm based on information provided by management. It is then reviewed by finance committee and management. The finance committee accepts form 990 prior to being filed. The finance committee also reviews and accepts the organization's audited financial statements after their reviews. The final, signed form 990 is provided to the organization's board members prior to filing with the irs.

Pt VI, Line 12C

Conflict of interest policy statements are signed by mhub directors and officers indicating that he or she has received, read and agrees to comply with the policy. Mhub directors and officers also complete an annual disclosure questionnaire. Such as, disclosing any potential conflicts of interest and listing all businesses, charitable organizations, firms and other entities to which they have a substantial connection in the event a potential conflict is determined. The conflict is reviewed by the chairman of the board of directors and the executive committee of the board of directors. The final determination about actual or potential conflicts of interest is made by the executive committe of the board of directors.

Pt VI, Line 15A

The employment and compensation committee is an independent committee comprised of members of board of directors. The committee is comprised of individuals unrelated to and not subject to the control of management. The committee members do not receive compensation. The committee performs a competitive compensation analysis on an annual basis for the organization's executive director, officers and key employees. The committee collects data of comparable positions at peer organizations. The committee maintains adequate and contemporaneous documentation of its compensation procedures. The committee's deliberations and its conclusions are recorded in writing prior to the date compensation changes are instituted.

Pt VI, Line 19

The organization's conflict of interest policy and financial statements are available upon request.

Form 990, Part III, Line 4D

Other program services 1603287. 0. 17528.

Form 990, Part IX, Line 24E

Misc expenses 50. 50. 0. 0.

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