Civic Intelligence

Economic Incubators Inc

EIN 47-1997241 • 501(c)3 • Naples, FL

Profile

Economic Incubators, Inc. is dedicated to assist new and emerging businesses and ideas to achieve new heights by providing business mentorships, essential services and a collaborative environment.

5551 Ridgewood DriveNaples, FL 34108

economicincubators.com

Siviq Scores

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

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on the latest valid filing.

Source year 2019

Liabilities / Revenue

34th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)3 • $500k-$1M nonprofits • Source year 2019

Net Margin

3rd percentile

-168%

Higher net margin than 3% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2019

Top Officer Pay

Score unavailable

No value available

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

Asset Growth

2nd percentile

-100%

Faster asset growth than 2% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Revenue Growth

14th percentile

-23%

Faster revenue growth than 14% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Assets

Down

$0

Down $1,226,659 (-100%) from 2018

Liabilities

Down

$0

Down $130,675 (-100%) from 2018

Net Assets

Down

$0

Down $1,095,984 (-100%) from 2018

Revenue

Down

$650,986

Down $192,098 (-23%) from 2018

Expenses

Up

$1,746,973

Up $780,661 (+81%) from 2018

Net Income

Down

-$1,095,987

Down $972,759 (-789%) from 2018

Trend Graphs

Balance Sheet Trend

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

$1.5M$1.0M$500K$0Assets 2015: $509,732Liabilities 2015: $302,099Net Assets 2015: $207,6332015Assets 2016: $481,441Liabilities 2016: $379,343Net Assets 2016: $102,0982016Assets 2017: $1,265,188Liabilities 2017: $45,976Net Assets 2017: $1,219,2122017Assets 2018: $1,226,659Liabilities 2018: $130,675Net Assets 2018: $1,095,9842018Assets 2019: $0Liabilities 2019: $0Net Assets 2019: $02019

Highlighted filing

2019

Assets$0
Liabilities$0
Net Assets$0

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0M-$2.0MRevenue 2015: $490,000Expenses 2015: $717,994Net Income 2015: -$227,9942015Revenue 2016: $611,219Expenses 2016: $548,855Net Income 2016: $62,3642016Revenue 2017: $2,605,972Expenses 2017: $1,545,997Net Income 2017: $1,059,9752017Revenue 2018: $843,084Expenses 2018: $966,312Net Income 2018: -$123,2282018Revenue 2019: $650,986Expenses 2019: $1,746,973Net Income 2019: -$1,095,9872019

Highlighted filing

2019

Revenue$650,986
Expenses$1,746,973
Net Income-$1,095,987

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Sep 1, 2018 to Aug 31, 2019
Signed
Sep 13, 2019
Return Version
2018v3.1
Gross Receipts
$705,690
Mission and Program Overview

Mission

Economic Incubators, Inc. is dedicated to assist new and emerging businesses and ideas to achieve new heights by providing business mentorships, essential services and a collaborative environment.

Economic Incubators, Inc. supports and nurtures new and developing businesses to expand, grow and prosper in Collier County and beyond, thus creating jobs, investments and diversity in the local economy.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,108,176--
Accounts Receivable$85,891--
Cash and Non-Interest-Bearing Accounts$14,484--
Pledges and Grants Receivable$10,000--
Prepaid Expenses and Deferred Charges$4,483--
Total Assets$1,226,659$0▼ $1,226,659
Other Assets Total$3,625--
Liabilities
Accounts Payable and Accrued Expenses$75,273--
Mortgage Notes Payable Secured by Investment Property$33,902--
Other Liabilities$11,333--
Deferred Revenue$10,167--
Total Liabilities$130,675$0▼ $130,675
Net Assets / Fund Balance
Temporarily Rstr Net Assets$1,089,262--
Unrestricted Net Assets$6,722--
Total Net Assets Fund Balance$1,095,984$0▼ $1,095,984
Total Liabilities and Net Assets / Fund Balance$1,226,659$0▼ $1,226,659
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jennifer PellechioPresidentFT$101,532$11,602$113,134
Marshall GoodmanDirectorPresCEOFT$84,332$6,821$91,153

Board Members and Trustees

NameTitle
Richard GrantDirectorChairman
Dudley GoodletteDirectorVice Chairman
Fred PezeshkanDirector
George AhearnDirector
Jean-Pierre GarnierDirector
Joe PaternoDirector
Louis TrainaDirector
Philippe CamusDirector
Richard KlassDirector
Stephen WheelerDirector
Tim DurhamDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$490,695
Program Service Revenue
$0
Investment Income
$393
Other Revenue
$159,898
All Other Contributions
$12,696
Change in Net Assets
$-1,095,987
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,431,886
Salaries, Compensation, and Employee Benefits$315,087
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$160,780$17,865-$178,645
Other Salaries and Wages$146,552$16,284-$162,836
Depreciation Depletion$88,368$9,819-$98,187
Current Officers, Directors, Trustees, and Key Employees$79,716$8,857-$88,573
All Other Expenses$30,283$3,393-$33,676
Other Employee Benefits$29,050$3,228-$32,278
Payroll Taxes$19,085$2,120-$21,205
Advertising$13,009$1,445-$14,454
Information Technology$12,783$1,420-$14,203
Fees for Services Other$10,150$1,128-$11,278
Pension Plan Contributions$9,175$1,020-$10,195
Insurance$8,236$915-$9,151
Other Expenses$7,258$806-$8,064
Office Expenses$4,332$481-$4,813
Travel$2,430$270-$2,700
Interest$1,586$176-$1,762
Total Functional Expenses$1,572,251$174,722$0$1,746,973
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
Fred PezeshkanChairmanRental of office spaceNo$156,510
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accrued Compensated Absences-
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
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 governing body review Part VI line 11

A copy of the Form 990 is provided to all Board Members prior to its submission to the Internal Revenue Service (IRS). The President, Secretary and Treasurer reviews and approves the Form 990 for submission to the IRS.

Conflict of interest policy compliance Part VI line 12C

Annually, the Board is asked to review the conflicts of interest policy, disclose any conflicts, and sign the policy. If conflict of interest arises, the Board Member will not be permitted to participate in the transaction or decision.

CEO executive director top management comp Part VI line 15A

Annually, the Board examines a salary survey and reference to Floridawages.com to determine compensation.

Other officer or key employee compensation Part VI line 15B

Annually, the Board examines a salary survey and reference to Floridawages.com to determine compensation.

Form 990 availability to public Part VI line 18

The 990 is available by public request.

Governing documents etc available to public Part VI line 19

Available upon request.

Filing and Contact Details

Filer

Filer Name
Economic Incubators Inc
EIN
47-1997241
Address
5551 Ridgewood Drive, Naples, FL 34108

Signing Officer

Name
Richard Grant
Title
Chairman
Phone
2395141000
Signed
2019-09-13
Discuss with paid preparer
Yes

Organization Details

Formed
2014
Legal Domicile
Fl
Voting Board Members
11
Independent Board Members
10
Employees
6
Volunteers
1

Preparer

Firm
Tuscan & Company PA
Address
12621 World Plaza Lane Bldg 55, Fort Myers, FL 33907
Preparer
Jeffrey M Tuscan CPA
Phone
2393332090
Supplemental Narrative

Additional Explanations

Cessation of or significant change to any program service Part III line 3

The Organization ceased operations effective August 31, 2019.

Explanation of other changes in net assets or fund balances Part XI line 9

Economic Incubators, Inc. (EII) ceased operations as of August 31, 2019. Operations of EII ceased due to the fact that the entitys main funding source, Collier County, Florida, resolved to cease funding of EII and to absorb the assets and take over the operations of the facilities previously operated by EII. All assets and liabilities were transferred to The Board of County Commissioners of Collier County totaling $1,031,849.

General explanation attachment

The Organization had one board member resign on 1/25/19, Steve Wheeler. Therefore, at the end of the year, they had 11 voting members. In addition to that, Marshall Goodman, President, resigned 4/30/2018 and was replaced by Jennifer Pellechio.

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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/OtherExpensesGrp/ProgramServicesAmt0928664
IRS990/OtherExpensesGrp/ProgramServicesAmt112812
IRS990/OtherExpensesGrp/ProgramServicesAmt27982
IRS990/OtherExpensesGrp/ProgramServicesAmt37258
IRS990/OtherExpensesGrp/TotalAmt01031849
IRS990/OtherExpensesGrp/TotalAmt114235
IRS990/OtherExpensesGrp/TotalAmt28869
IRS990/OtherExpensesGrp/TotalAmt38064
IRS990/OtherLiabilitiesGrp/BOYAmt011333
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt016284
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0146552
IRS990/OtherSalariesAndWagesGrp/TotalAmt0162836
IRS990/OtherWebsiteInd0X
IRS990/OwnWebsiteInd0X
IRS990/PartialLiquidationInd0true
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt02120
IRS990/PayrollTaxesGrp/ProgramServicesAmt019085
IRS990/PayrollTaxesGrp/TotalAmt021205
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt01020
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt09175
IRS990/PensionPlanContributionsGrp/TotalAmt010195
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt010000
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt04483
IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0751575
IRS990/PYExcessBenefitTransInd0false
IRS990/PYGrantsAndSimilarPaidAmt013950
IRS990/PYInvestmentIncomeAmt0-1190
IRS990/PYOtherExpensesAmt0531596
IRS990/PYOtherRevenueAmt092699
IRS990/PYRevenuesLessExpensesAmt0-123228
IRS990/PYSalariesCompEmpBnftPaidAmt0420766
IRS990/PYTotalExpensesAmt0966312
IRS990/PYTotalRevenueAmt0843084
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0-1095987
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/RealAmt0159898
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0160291
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0490684
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0751575
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt02458252
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0519847
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0395000
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt04615358
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0210703
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0210703
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0356266
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.63880
IRS990ScheduleA/PublicSupportTotal170Amt03082946
IRS990ScheduleA/SubstantialContributorsTotAmt01532412
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0490684
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0751575
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt02458252
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0519847
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0395000
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt04615358
IRS990ScheduleA/TotalSupportAmt04826061
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Accrued Compensated Absences
IRS990ScheduleJ/AnyNonFixedPaymentsInd0false
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd0false
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
IRS990ScheduleJ/DiscretionarySpendingAcctInd0X
IRS990ScheduleJ/InitialContractExceptionInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt084332
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt03210
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt03611
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0Marshall Goodman
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0DirectorPresCEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt091153
IRS990ScheduleJ/SubstantiationRequiredInd0false
IRS990ScheduleJ/WrittenPolicyRefTAndEExpnssInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0Fred Pezeshkan
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0Chairman
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt0156510
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0Rental of office space
IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt0Collier County paid $152,872 in rent to Kraft Office Center LLC (Kraft) on behalf of Economic Incubators Inc (EII) during the fiscal period. EII paid rent directly to Kraft in the amount of $3,638 which is reflected in Part VIII Line 6b. Fred Pezeshkan is a Director of EIIs Board of Directors and he is also manager of Kraft.
IRS990ScheduleL/SupplementalInformationDetail/FormAndLineReferenceDesc0Supplemental Information for Schedule L
IRS990ScheduleN/AssetsDistributedInd0true
IRS990ScheduleN/BondsOutstandingInd0false
IRS990ScheduleN/DirectorOfSuccessor2Ind0false
IRS990ScheduleN/DirectorOfSuccessorInd0false
IRS990ScheduleN/EmployeeOfSuccessor2Ind0false
IRS990ScheduleN/EmployeeOfSuccessorInd0false
IRS990ScheduleN/LiabilitiesPaidInd0true
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc0Computer equipment fixed assets
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc1Furniture and equipment fixed assets
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc2Leasehold improvements fixed assets
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc3Other expenses
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt02019-06-30
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt12019-06-30
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt22019-06-30
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt32019-06-30
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/EIN0596000558
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/EIN1596000558
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/EIN2596000558
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/EIN3596000558
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/FairMarketValueOfAssetAmt012919
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/FairMarketValueOfAssetAmt130786
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/FairMarketValueOfAssetAmt2966284
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/FairMarketValueOfAssetAmt321860
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt0Government unit
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt1Government unit
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt2Government unit
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt3Government unit
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt0Book value
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt1Book value
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt2Book value
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt3Cost
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/PersonNm0The BOCC of Collier County
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/PersonNm1The BOCC of Collier County
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/PersonNm2The BOCC of Collier County
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/PersonNm3The BOCC of Collier County
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt03299 Tamiami Trail East Ste 303

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