Civic Intelligence

Bunker Labs Nfp Inc

EIN 47-1474802 • 501(c)3 • Chicago, IL

Profile

Bunker Labs provides communities, programs, and courses that help military veterans and military spouses start and grow successful businesses.

230 E Ohio St Ste 410 1241Chicago, IL 60611

www.bunkerlabs.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

42nd percentile

0.03x

Higher debt load relative to assets than 42% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

40th percentile

0.04x

Higher debt load relative to revenue than 40% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

15th percentile

-19%

Higher net margin than 15% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

9th percentile

-19%

Faster asset growth than 9% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

5th percentile

-48%

Faster revenue growth than 5% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Assets

Down

$3,446,480

Down $826,981 (-19%) from 2022

Liabilities

Down

$118,180

Down $231,997 (-66%) from 2022

Net Assets

Down

$3,328,300

Down $594,984 (-15%) from 2022

Revenue

Down

$3,163,264

Down $2,872,469 (-48%) from 2022

Expenses

Down

$3,758,248

Down $2,069,933 (-36%) from 2022

Net Income

Down

-$594,984

Down $802,536 (-387%) from 2022

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$8.0M$6.0M$4.0M$2.0M$0Assets 2015: $275,251Liabilities 2015: $12,310Net Assets 2015: $262,9412015Assets 2016: $987,024Liabilities 2016: $2,669Net Assets 2016: $984,3552016Assets 2017: $1,582,419Liabilities 2017: $242,422Net Assets 2017: $1,339,9972017Assets 2018: $2,066,093Liabilities 2018: $78,405Net Assets 2018: $1,987,6882018Assets 2019: $6,477,638Liabilities 2019: $217,410Net Assets 2019: $6,260,2282019Assets 2020: $4,459,493Liabilities 2020: $517,662Net Assets 2020: $3,941,8312020Assets 2021: $3,938,287Liabilities 2021: $222,555Net Assets 2021: $3,715,7322021Assets 2022: $4,273,461Liabilities 2022: $350,177Net Assets 2022: $3,923,2842022Assets 2023: $3,446,480Liabilities 2023: $118,180Net Assets 2023: $3,328,3002023

Highlighted filing

2023

Assets$3,446,480
Liabilities$118,180
Net Assets$3,328,300

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$10M$5.0M$0-$5.0MRevenue 2015: $830,611Expenses 2015: $567,670Net Income 2015: $262,9412015Revenue 2016: $1,841,280Expenses 2016: $1,119,767Net Income 2016: $721,5132016Revenue 2017: $2,514,198Expenses 2017: $2,158,556Net Income 2017: $355,6422017Revenue 2018: $2,450,692Expenses 2018: $1,803,001Net Income 2018: $647,6912018Revenue 2019: $9,587,855Expenses 2019: $5,315,315Net Income 2019: $4,272,5402019Revenue 2020: $3,615,786Expenses 2020: $5,934,183Net Income 2020: -$2,318,3972020Revenue 2021: $4,312,612Expenses 2021: $3,113,677Net Income 2021: $1,198,9352021Revenue 2022: $6,035,733Expenses 2022: $5,828,181Net Income 2022: $207,5522022Revenue 2023: $3,163,264Expenses 2023: $3,758,248Net Income 2023: -$594,9842023

Highlighted filing

2023

Revenue$3,163,264
Expenses$3,758,248
Net Income-$594,984

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Oct 30, 2024
Return Version
2023v5.1
Gross Receipts
$3,163,264
Mission and Program Overview

Mission

Bunker Labs provides communities, programs, and courses that help military veterans and military spouses start and grow successful businesses.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$1,672,456$2,254,403▲ $581,947
Cash and Non-Interest-Bearing Accounts$2,336,696$1,071,829▼ $1,264,867
Savings and Temporary Cash Investments$240,338$60,596▼ $179,742
Prepaid Expenses and Deferred Charges$23,971$59,652▲ $35,681
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$4,273,461$3,446,480▼ $826,981
Other Assets Total-$0-
Liabilities
Unsecured Notes Loans Payable$280,000--
Accounts Payable and Accrued Expenses$70,177$118,180▲ $48,003
Total Liabilities$350,177$118,180▼ $231,997
Net Assets / Fund Balance
Net Assets With Donor Restrictions$4,336,434$3,285,876▼ $1,050,558
Net Assets Without Donor Restrictions$-413,150$42,424▲ $455,574
Total Net Assets Fund Balance$3,923,284$3,328,300▼ $594,984
Total Liabilities and Net Assets / Fund Balance$4,273,461$3,446,480▼ $826,981
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Blake HoganChief Exec OfcFT$196,900$25,000$221,900
Becca KeatyChief Development OfficerFT$207,188$10,000$217,188
Reginold OrdonezChief Oper OfcFT$156,692$15,000$171,692
Jenny HansDirector Corp GivingFT$129,400-$129,400
Devin SizerDirector NP StrategiesFT$125,900-$125,900
Elizabeth MarionDirector CEOcircle PrgFT$112,900-$112,900
Xavier ClarkeDirector Ambass PrgmFT$112,900-$112,900

Board Members and Trustees

NameTitle
Lenore KarafaPresident
Charlynda ScalesDirector
Elizabeth GoreDirector
Fred DeeseDirector
Lewis RunnionDirector
Nikki HartungDirector
Stacey NashDirector
Tim HsiaDirector
Todd ConnorDirector
Vince StewartDirector
Charlotte Coker GibsonSecretary
Kelly PerdewTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Sikich LLPConsulting1415 W Diehl Rd, Naperville, IL 60563$135,370
Revenue and Support

Revenue Composition

Contributions and Grants
$3,091,192
Program Service Revenue
$67,000
Investment Income
$273
Other Revenue
$4,799
All Other Contributions
$3,091,192
Change in Net Assets
$-594,984

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,163,264
Revenue Not Reported on Form 990
$1,022,013
Total Revenue per Audited Statements
$4,185,277
Total Revenue per Form 990
$3,163,264
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,288,669
Other Expenses$1,469,579
Total Fundraising Expense$696,346
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$627,210$143,825$320,844$1,091,879
Other Salaries and Wages$476,593$109,288$243,798$829,679
Fees for Services Other$458,215$341,088$25,725$825,028
Travel$217,637$12,910$10,423$240,970
Other Employee Benefits$141,624$25,508$52,659$219,791
Payroll Taxes$86,794$19,860$40,666$147,320
Occupancy$21,859$16,261-$38,120
Other Expenses$12,359$5,606$258$18,223
All Other Expenses$13,748$2,723-$16,471
Insurance-$10,290-$10,290
Interest$3,909--$3,909
Total Functional Expenses$2,336,811$725,091$696,346$3,758,248

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$4,780,261
Expenses per Audited Statements$3,758,248
Total Expenses per Form 990$3,758,248
Expenses Not Reported on Form 990$1,022,013
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

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Todd ConnorFounderAdvisory ServicesNo$17,344

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
Yes
Conflict-of-interest policy
Yes
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 form 990 was provided to the organization, reviewed by finance team and coo, and made available to the governing board.

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

The conflict of interest policy notes that any board member or staff member who fails to discloseactual or possible conflict will be subject to the corrective actions of the board and/or leadership team.

Form 990, Part VI, Section C, Line 19

AVAILABLE UPON REQUEST

Filing and Contact Details

Filer

Filer Name
Bunker Labs Nfp Inc
EIN
47-1474802
Address
230 E OHIO ST STE 410 1241, CHICAGO, IL 60611

Signing Officer

Name
Blake Hogan
Title
Chief Exec Ofc
Signed
2024-10-30
Discuss with paid preparer
Yes

Organization Details

Formed
2014
Legal Domicile
Il
Voting Board Members
12
Independent Board Members
12
Employees
19
Volunteers
70

Preparer

Firm
Givens & Barnes
Address
200 E Evergreen Ave Ste 117, Mount Prospect, IL 60056
Preparer
Daniel W Barnes
Phone
2247642442
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 4D

OTHER PROGRAM SERVICES 4: USAA 100 Year Celebration-In 2022, USAA celebrated its 100th anniversary by partnering with Bunker Labs to host a nationwide series of pitch competitions. 42 startups competed in six regional pitch competitions held between March and September 2022, in Austin, Los Angeles, Washington, D.C., Chicago, Seattle, and Charlotte. The series culminated with the final event in San Antonio on November 10, where the winner from each regional event pitched alongside four wildcards selected from the regional events. A total of $280,000 was awarded to regional and final event winners throughout 2022. The events also provided a platform for competitors to connect with USAAs investment team, corporate leaders who could become customers, and outside investors invited to attend. NB: Revenue for this special project was recorded in 2021. OTHER PROGRAM SERVICES 5: Breaking Barriers in Entrepreneurship (BBiE) workshop series- Breaking Barriers in Entrepreneurship is a virtual workshop series that facilitates business growth and support within Asian-American Pacific Islander, Black, Latinx, and female veteran and military spouse communities. The eight-week program is designed to create an immediate impact for early- to growth-stage businesses by providing access to business tools, resources, capital opportunities, mentorship, and a peer network. During 2022, Bunker Labs served 256 entrepreneurs through 16 small group cohorts of BBiE. NB: 2022 BBiE revenue listed above includes $839,681 awarded in 2022 but restricted for after 2022, with $225,472 of those funds restricted for 2024 & 2025. OTHER PROGRAM SERVICES 6: Other Programs

Form 990, Part XII, Line 2C

There was no change in oversight process or selection process during the year

Flow Through Funding

The Organization uses the term flow through funding to refer to funds granted to the Organization for the explicit purpose of being distributed to military veteran/military spouse entrepreneurs as prizes for pitch competitions. During 2022, the Organization secured a total of $200,000 in pitch prize funding to be paid across multiple events. Of these funds, $30,000 were released from donor restriction within 2022 at completion of the relevant pitch event and prize distribution. The donor restrictions for the remaining $170,000 have not been met as of December 31, 2022.

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IRS990/Desc0Ambassador program-the Ambassador Program is a 12-month cohort experience for volunteer leaders who support Bunker Labs programs and impact within their local entrepreneurial ecosystems. The program is designed to empower volunteers to grow as community leaders while meaningfully impacting the lives of veteran and military spouse entrepreneurs. Ambassadors work directly to support their local Veterans in Residence, engage other ecosystem partners, and guide members of their local community to the necessary resources to launch and grow successful ventures. Throughout their cohort experience, Ambassadors attend in-person professional development sessions to gain and share skills and knowledge that support their leadership development and connect their local business ecosystem for the benefit of Bunker Labs entrepreneurs. The cohort of 90 Ambassadors that launched in 2021 came together for their next Fly-In convening on February 23-25 in Chicago. As part of the Bunker Labs Summit in Austin on June 8-10, the organization recognized the outgoing Ambassadors from the 2021-2022 cohort while also welcoming the incoming 2022-2023 Ambassadors cohort, which includes 90 volunteers serving 36 communities across the U.S. Later in the year, this cohort met for their second Fly-In, which the Bunker hosted in conjunction with the Military Influencer Conference (MIC) in Las Vegas from October 26-28. Between Fly-Ins, Ambassadors use the training and resources from these sessions to provide ongoing support to their local ViR cohorts, build relationships with relevant partner organizations, represent Bunker Labs at partner events, and host roundtables and networking events to grow the local Bunker Labs community. During 2022, Ambassadors hosted 31 Bunker Connect networking events, 59 ViR Showcase events, and countless other informal gatherings for Bunker Labs entrepreneurs. NB: 2022 Ambassador program revenue listed above includes $1,140,674 restricted for 2024 & 2025.
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IRS990/ProgSrvcAccomActy3Grp/Desc0CEOcircle- CEOcircle is a monthly peer accountability group for growth-stage companies looking to scale. Over the course of nine virtual huddles and four in person Fly-In events, CEOs and executives can ask critical questions impacting their businesses today. Together, participants learn from peers and national experts alike how to take their companies to the next level. Additionally, CEOcircle members also gain access to dedicated liaisons and a 10-week advisor program powered by JPMorgan Chase.In November 2021, Bunker Labs launched the 2021-2022 cohort with 41 entrepreneurs participating. During 2022, this cohort gathered for their second Fly-In convening in Dallas, TX on March 13-14, and for their third Fly-In on June 7-8 as part of the Bunker Labs Summit in Austin, TX. In summer 2022, Bunker Labs opened applications for the 2022-2023 cohort of CEOcircle. 2022 entrepreneurs applied for the cohort (an 82% increase from the prior year), and the Bunker selected 80 to participate increasing the cohort size to meet this growing demand. The 2022-2023 cohort of CEOcircle also reflects the diversity of entrepreneurs in the Bunker Labs community 47% of participants are women and/or POC founders and 63% identify as service-disabled veterans. Bunker Labs hosted the last CEOcircle Fly-In event of 2022 on November 6-8 in New York City. The 2021-2022 cohort attended this event as the capstone to their 12-month experience, with the incoming cohort kicking off their year at this event allow both cohorts the opportunity to network with each other and build relevant connects other CEOs. This Fly-In featured a workshop on crafting and amplifying stories with the Armed Services Arts Partnership (ASAP), a fireside chat with Alex Gorsky (Exective Chairman, Johnson & Johnson), and sessions for the incoming cohort to get acquainted with the program format and meet in their groups for huddles, critical questions, and deep dives followed by industry breakout sessions.
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