Civic Intelligence

Economic Incubators Inc

990 • Fiscal year 2017 • EIN 47-1997241

Oct 01, 2016 to Sep 30, 2017 • Filed on Aug 13, 2018

3510 Kraft RoadNaples, FL 34105

(239) 249-5911

Siviq Scores

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

Liabilities / Assets

38th percentile

0.04x

Higher debt load relative to assets than 38% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

25th percentile

0.02x

Higher debt load relative to revenue than 25% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

88th percentile

41%

Higher net margin than 88% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

88th percentile

$180,873

Higher top officer pay than 88% of similar nonprofits.

Top officer pay equals 6.9% of source-year revenue.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Asset Growth

97th percentile

163%

Faster asset growth than 97% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

97th percentile

326%

Faster revenue growth than 97% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Assets

Up

$1,265,188

Up $783,747 (+163%) from 2016

Net Assets

Up

$1,219,212

Up $1,117,114 (+1094%) from 2016

Liabilities

Down

$45,976

Down $333,367 (-88%) from 2016

Revenue

Up

$2,605,972

Up $1,994,753 (+326%) from 2016

Expenses

Up

$1,545,997

Up $997,142 (+182%) from 2016

Net Income

Up

$1,059,975

Up $997,611 (+1600%) from 2016

Historical Trend

Balance Sheet Trend

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

$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

2017

Assets$1,265,188
Liabilities$45,976
Net Assets$1,219,212

Operations Trend

Revenue, expenses, and net income across loaded years, with this 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

2017

Revenue$2,605,972
Expenses$1,545,997
Net Income$1,059,975
Jump To
Filing Snapshot
Filing Period
Oct 1, 2016 to Sep 30, 2017
Signed
Aug 13, 2018
Return Version
2016v3.0
Gross Receipts
$2,714,358
Mission and Program Overview

Mission

Organization is designed to assist the growth of local businesses and the attraction of investment from outside companies.

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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net-$1,184,093-
Pledges and Grants Receivable$102,554$50,382▼ $52,172
Cash and Non-Interest-Bearing Accounts$358,518$26,516▼ $332,002
Accounts Receivable$20,369$4,197▼ $16,172
Total Assets$481,441$1,265,188▲ $783,747
Liabilities
Deferred Revenue$314,947--
Accounts Payable and Accrued Expenses$46,396$24,824▼ $21,572
Other Liabilities-$21,152-
Unsecured Notes Loans Payable$18,000--
Total Liabilities$379,343$45,976▼ $333,367
Net Assets / Fund Balance
Temporarily Rstr Net Assets-$1,189,093-
Unrestricted Net Assets$102,098$30,119▼ $71,979
Total Net Assets Fund Balance$102,098$1,219,212▲ $1,117,114
Total Liabilities and Net Assets / Fund Balance$481,441$1,265,188▲ $783,747

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$1,040,192$8,819-
Equipment$16,820$6,201-
Leasehold Improvements$127,081$6,142-
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Marshall GoodmanDirectorPresCEOFT$149,377$31,496$180,873
Jennifer PellechioChief Operating OfficerFT$56,577$4,412$60,989

Board Members and Trustees

NameTitle
Dolph Von ArxDirectorChairman
Fred PezeshkanDirectorChairman
Richard GrantDirectorVice ChairmanSecret
Carolyn RamboskDirector
Dudley GoodletteDirector
George AhearnDirector
Jean-Pierre GarnierDirector
Joe PaternoDirector
Louis TrainaDirector
Stephen WheelerDirector
Tom GradyDirector
Garrett RichterDirectorTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,458,252
Program Service Revenue
$0
Investment Income
$-3,329
Other Revenue
$151,049
All Other Contributions
$37,523
Change in Net Assets
$1,059,975

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,605,972
Revenue Not Reported on Form 990
$226,877
Total Revenue per Audited Statements
$2,832,849
Total Revenue per Form 990
$2,605,972
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,139,723
Salaries, Compensation, and Employee Benefits$406,274
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$245,678$27,298-$272,976
Occupancy$178,862$19,874-$198,736
Other Salaries and Wages$59,583$6,620-$66,203
All Other Expenses$40,336$3,386-$43,722
Other Employee Benefits$26,695$2,966-$29,661
Payroll Taxes$20,398$2,266-$22,664
Depreciation Depletion$18,806$2,090-$20,896
Pension Plan Contributions$13,293$1,477-$14,770
Other Expenses$12,500$3,482-$12,500
Travel$10,318$1,146-$11,464
Information Technology$10,051$101-$10,152
Fees for Services Other$7,785$865-$8,650
Advertising$3,773$419-$4,192
Interest$3,671$408-$4,079
Office Expenses$3,251$361-$3,612
Insurance$1,768$197-$1,965
Total Functional Expenses$1,473,041$72,956$0$1,545,997

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,772,874
Expenses per Audited Statements$1,545,997
Total Expenses per Form 990$1,545,997
Expenses Not Reported on Form 990$226,877
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$192,129
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accrued Compensated Absences$21,152
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
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
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 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 Chief Operating Officer reviews and approves the Form 990 for submission to the IRS.

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
3510 Kraft Road, Naples, FL 34105

Signing Officer

Name
Jennifer Pellechio
Title
Chief Operating
Phone
2392495911
Signed
2018-08-13
Discuss with paid preparer
Yes

Organization Details

Formed
2014
Legal Domicile
Fl
Voting Board Members
13
Independent Board Members
12
Employees
5
Volunteers
6

Preparer

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

Additional Explanations

General explanation attachment

Dolph Von Arx resigned from the Board as Chairman as of February 1, 2016. Fred Pezeshkan, who was previously the Vice Chairman, assumed duties as Chairman for the remainder of the period.

Financial Statement Notes

Other revenues not included on Form 990 (Part XI, line 2D)

Rental promotions of $95,773 are included in expenses on the audited statements but are shown net of rental income on Form 990. Woodstocks expenses of $12,613 are included in expenses on the audited financial statements but are shown net of sale proceeds on Form 990.

Other expenses not included on Form 990 (Part XII, line 2D)

Rental promotions of $95,773 are included in expenses on the audited statements but are shown net of rental income on Form 990. Woodstocks expenses of $12,613 are included in expenses on the audited financial statements but are shown net of sale proceeds on Form 990.

Footnote for uncertain tax position under FIN 48 (Part X)

The Organization is exempt from Federal Income Taxes under IRC Section 501(c)(3). The Organization is not classified as a private foundation within the meaning of Section 509(a) of the Internal Revenue Code. Management believes the Organization met the requirements to maintain its tax-exempt status and has no income subject to unrelated business income tax. The Organizations income tax returns for the past three years are open and subject to examination by tax authorities, and may change upon examination. The Organization reports no unrelated business taxable income; however, such status is subject to final determination upon examination of the related tax returns by the appropriate taxing authorities.

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IRS990/MinutesOfCommitteesInd0true
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IRS990/MissionDesc0Economic 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.
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IRS990/MoreThan5000KToOrgInd0false
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IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt0361
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IRS990/OfficeExpensesGrp/TotalAmt03612
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IRS990/OtherExpensesGrp/Desc0State tasks
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IRS990/OtherExpensesGrp/ProgramServicesAmt1250000
IRS990/OtherExpensesGrp/ProgramServicesAmt231337
IRS990/OtherExpensesGrp/ProgramServicesAmt312500
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IRS990/OtherExpensesGrp/TotalAmt1250000
IRS990/OtherExpensesGrp/TotalAmt234819
IRS990/OtherExpensesGrp/TotalAmt312500
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IRS990/PartialLiquidationInd0false
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IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt02266
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IRS990/PayrollTaxesGrp/TotalAmt022664
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt01477
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt013293
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IRS990/PoliticalCampaignActyInd0false
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IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
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IRS990/PYOtherExpensesAmt0174012
IRS990/PYOtherRevenueAmt020487
IRS990/PYRevenuesLessExpensesAmt062364
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IRS990/PYTotalExpensesAmt0477970
IRS990/PYTotalRevenueAmt0540334
IRS990/QuidProQuoContributionsInd0false
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IRS990/ReconcilationRevenueExpnssAmt01059975
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/RealAmt0150850
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0256106
IRS990ScheduleA/First5Years170Ind0X
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0519847
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0395000
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IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt03373099
IRS990ScheduleA/TotalSupportAmt03373099
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
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IRS990ScheduleD/DonatedServicesAndUseFcltsAmt0118491
IRS990ScheduleD/DonatedServicesUseFcltsAmt0118491
IRS990ScheduleD/EquipmentGrp/BookValueAmt016820
IRS990ScheduleD/EquipmentGrp/DepreciationAmt06201
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt023021
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IRS990ScheduleD/FootnoteTextInd0X
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IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt01049011
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt021152
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Accrued Compensated Absences
IRS990ScheduleD/OtherRevenueAmt0108386
IRS990ScheduleD/RevenueNotReportedAmt0226877
IRS990ScheduleD/RevenueSubtotalAmt02605972
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Rental promotions of $95,773 are included in expenses on the audited statements but are shown net of rental income on Form 990. Woodstocks expenses of $12,613 are included in expenses on the audited financial statements but are shown net of sale proceeds on Form 990.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1Rental promotions of $95,773 are included in expenses on the audited statements but are shown net of rental income on Form 990. Woodstocks expenses of $12,613 are included in expenses on the audited financial statements but are shown net of sale proceeds on Form 990.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2The Organization is exempt from Federal Income Taxes under IRC Section 501(c)(3). The Organization is not classified as a private foundation within the meaning of Section 509(a) of the Internal Revenue Code. Management believes the Organization met the requirements to maintain its tax-exempt status and has no income subject to unrelated business income tax. The Organizations income tax returns for the past three years are open and subject to examination by tax authorities, and may change upon examination. The Organization reports no unrelated business taxable income; however, such status is subject to final determination upon examination of the related tax returns by the appropriate taxing authorities.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Other revenues not included on Form 990 (Part XI, line 2d)
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Other expenses not included on Form 990 (Part XII, line 2d)
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2Footnote for uncertain tax position under FIN 48 (Part X)
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IRS990ScheduleD/TotalExpensesPerForm990Amt01545997
IRS990ScheduleD/TotalLiabilityAmt021152
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IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
IRS990ScheduleJ/DiscretionarySpendingAcctInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990ScheduleJ/InitialContractExceptionInd0false
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0Marshall Goodman

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