Civic Intelligence

Betamore Inc.

990 • Fiscal year 2022 • EIN 52-2156026

Jul 01, 2021 to Jun 30, 2022 • Filed on Mar 27, 2023

2101 E Biddle StreetBaltimore, MD 21213

(443) 296-2382

Siviq Scores

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

Liabilities / Assets

95th percentile

1.03x

Higher debt load relative to assets than 95% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Liabilities / Revenue

94th percentile

0.86x

Higher debt load relative to revenue than 94% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Net Margin

20th percentile

-18%

Higher net margin than 20% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Top Officer Pay

78th percentile

$0

Higher top officer pay than 78% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Asset Growth

76th percentile

27%

Faster asset growth than 76% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Annualized from 2021 to 2022

Revenue Growth

25th percentile

-18%

Faster revenue growth than 25% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Annualized from 2021 to 2022

Assets

Up

$308,748

Up $65,792 (+27%) from 2021

Net Assets

Down

-$7,859

Down $72,480 (-112%) from 2021

Liabilities

Up

$316,607

Up $138,272 (+78%) from 2021

Revenue

Down

$367,798

Down $81,173 (-18%) from 2021

Expenses

Up

$435,278

Up $49,049 (+13%) from 2021

Net Income

Down

-$67,480

Down $130,222 (-208%) from 2021

Historical Trend

Balance Sheet Trend

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

$600K$400K$200K$0-$200K-$400KAssets 2011: $537,354Liabilities 2011: $141,127Net Assets 2011: $396,2272011Assets 2012: $339,620Liabilities 2012: $93,842Net Assets 2012: $245,7782012Assets 2013: $167,470Liabilities 2013: $91,486Net Assets 2013: $75,9842013Assets 2014: $38,849Liabilities 2014: $3,750Net Assets 2014: $35,0992014Assets 2015: $398,597Liabilities 2015: $50,946Net Assets 2015: $347,6512015Assets 2016: $285,154Liabilities 2016: $95,677Net Assets 2016: $189,4772016Assets 2017: $300,035Liabilities 2017: $68,815Net Assets 2017: $231,2202017Assets 2018: $335,001Liabilities 2018: $41,876Net Assets 2018: $293,1252018Assets 2019: $187,039Liabilities 2019: $9,683Net Assets 2019: $177,3562019Assets 2020: $301,320Liabilities 2020: $281,005Net Assets 2020: $20,3152020Assets 2021: $242,956Liabilities 2021: $178,335Net Assets 2021: $64,6212021Assets 2022: $308,748Liabilities 2022: $316,607Net Assets 2022: -$7,8592022Assets 2023: $133,848Liabilities 2023: $279,333Net Assets 2023: -$145,4852023Assets 2024: $50,149Liabilities 2024: $270,121Net Assets 2024: -$219,9722024Assets 2025: $17,920Liabilities 2025: $271,577Net Assets 2025: -$253,6572025

Highlighted filing

2022

Assets$308,748
Liabilities$316,607
Net Assets-$7,859

Operations Trend

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

$1.0M$500K$0-$500KRevenue 2011: $541,131Expenses 2011: $579,498Net Income 2011: -$38,3672011Revenue 2012: $429,774Expenses 2012: $591,908Net Income 2012: -$162,1342012Revenue 2013: $196,667Expenses 2013: $371,561Net Income 2013: -$174,8942013Revenue 2014: $162,166Expenses 2014: $203,051Net Income 2014: -$40,8852014Revenue 2015: $697,998Expenses 2015: $385,446Net Income 2015: $312,5522015Revenue 2016: $686,921Expenses 2016: $845,095Net Income 2016: -$158,1742016Revenue 2017: $784,372Expenses 2017: $742,629Net Income 2017: $41,7432017Revenue 2018: $970,744Expenses 2018: $908,839Net Income 2018: $61,9052018Revenue 2019: $652,811Expenses 2019: $768,580Net Income 2019: -$115,7692019Revenue 2020: $519,169Expenses 2020: $654,157Net Income 2020: -$134,9882020Revenue 2021: $448,971Expenses 2021: $386,229Net Income 2021: $62,7422021Revenue 2022: $367,798Expenses 2022: $435,278Net Income 2022: -$67,4802022Revenue 2023: $217,026Expenses 2023: $334,221Net Income 2023: -$117,1952023Revenue 2024: $83,738Expenses 2024: $158,225Net Income 2024: -$74,4872024Revenue 2025: $37,662Expenses 2025: $71,347Net Income 2025: -$33,6852025

Highlighted filing

2022

Revenue$367,798
Expenses$435,278
Net Income-$67,480
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Mar 27, 2023
Return Version
2021v4.2
Gross Receipts
$368,773
Mission and Program Overview

Mission

Betamore, inc. (organization) is a not-for-profit organization incorporated under the laws of the state of maryland. The organization is an award-winning co-working space, incubator and campus for entrepreneurship and technology. The organization's mission is to make baltimore a global entrepreneurship destination. Established in 2012, the organization actively supports, launches and grows technology-based startup companies by delivering on three core pillars: incubation, education and community development.

Betamore's mission is to make baltimore a leading global entrepreneurship destination.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$160,275$235,976▲ $75,701
Land, Buildings, and Equipment, Net$71,542$44,904▼ $26,638
Accounts Receivable$3,025$19,754▲ $16,729
Prepaid Expenses and Deferred Charges$8,114$8,114→ $0
Total Assets$242,956$308,748▲ $65,792
Liabilities
Unsecured Notes Loans Payable$150,841$291,452▲ $140,611
Accounts Payable and Accrued Expenses$27,494$25,155▼ $2,339
Total Liabilities$178,335$316,607▲ $138,272
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$64,621$-7,859▼ $72,480
Total Net Assets Fund Balance$64,621$-7,859▼ $72,480
Total Liabilities and Net Assets / Fund Balance$242,956$308,748▲ $65,792

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$44,904$212,923$257,827
Compensation and Service Providers

Board Members and Trustees

NameTitle
Greg CangialosiChairman
Aaron BrooksBoard Member
Bradly MyersBoard Member
Damian RintelmannBoard Member
Ellington WestBoard Member
George DavisBoard Member
Tim HodgeSecretary
Rob RosenbaumTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$125,959
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$241,839
All Other Contributions
$43,500
Change in Net Assets
$-67,480
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$360,323
Salaries, Compensation, and Employee Benefits$74,955
Total Fundraising Expense$11,278
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$227,870$4,650-$232,520
Other Salaries and Wages$46,974$10,105$10,109$67,188
Depreciation Depletion$26,104$533-$26,637
Fees for Services Other$23,474$158-$23,632
Information Technology$10,342$211-$10,553
Payroll Taxes$5,433$1,165$1,169$7,767
Insurance$5,675$116-$5,791
Office Expenses$4,884$100-$4,984
Conferences and Meetings$3,991$351-$4,342
Other Expenses$3,291$290-$3,581
Advertising$793$88-$881
Total Functional Expenses$406,233$17,767$11,278$435,278
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$1,500
Fundraising Direct Expenses$975
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
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
No
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

Governance Explanations

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

Prior to filing the form 990, a copy of the return will be emailed to all board members.

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

The conflict of interest policy is monitored through periodic check-ins with the board and at official board meetings. Additionally board members are asked to lay out and address an potential conflicts at the beginning of each year.

Form 990, Part VI, Section C, Line 19

The organization makes its governing documents and financial statements available upon request.

Filing and Contact Details

Filer

Filer Name
Betamore Inc
EIN
52-2156026
Phone
4432962382
Address
2101 E BIDDLE STREET, BALTIMORE, MD 21213

Signing Officer

Name
Greg Cangialosi
Title
Chairman
Phone
4432962382
Signed
2023-03-27
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Greg Cangialosi
Formed
1999
Legal Domicile
Md
Voting Board Members
8
Independent Board Members
8
Employees
1
Volunteers
0

Preparer

Firm
Ellin & Tucker Chartered
Address
400 EAST PRATT ST SUITE 200, BALTIMORE, MD 21202
Preparer
David J Komlosy
Phone
4107275735
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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/Desc0BETAMORE IS AN AWARD-WINNING COWORKING SPACE, INCUBATOR AND CAMPUS FOR TECHNOLOGY AND ENTREPRENEURSHIP. BETAMORE ACTIVELY SUPPORTS, LAUNCHES AND GROWS TECHNOLOGY-BASED STARTUP COMPANIES BY DELIVERING ON THREE CORE PILLARS: INCUBATION, EDUCATION AND COMMUNITY DEVELOPMENT. ITS EDUCATION AND EVENT OFFERINGS HAVE SERVED OVER 16,000 ATTENDEES AND 180+ ACADEMY GRADUATES. THROUGH ITS COMMUNITY DEVELOPMENT EFFORTS, BETAMORE CONTINUES TO SUPPORT AND ENGAGE MORE THAN 170 COMPANIES IN THE REGION. THROUGH ITS ADVISORY BOARD, BETAMORE CONNECTS 96 OF THE REGION'S HIGHEST PROFILE LEADERS TO THE BETAMORE MEMBERSHIP TO PROVIDE BUSINESSES WITH GUIDANCE AND MENTORSHIP.
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IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0241314
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0160275
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0235976
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0125959
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0253320
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0435736
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0548240
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0698984
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt02062239
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.89630
IRS990ScheduleA/PublicSupportPY170Pct00.89090
IRS990ScheduleA/PublicSupportTotal170Amt01848474
IRS990ScheduleA/SubstantialContributorsTotAmt0213765
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0125959
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0253320
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0435736
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0548240
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0698984
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt02062239
IRS990ScheduleA/TotalSupportAmt02062239
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt044904
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0212923
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0257827
IRS990ScheduleD/TotalBookValueLandBuildingsAmt044904
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0PRIOR TO FILING THE FORM 990, A COPY OF THE RETURN WILL BE EMAILED TO ALL BOARD MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE CONFLICT OF INTEREST POLICY IS MONITORED THROUGH PERIODIC CHECK-INS WITH THE BOARD AND AT OFFICIAL BOARD MEETINGS. ADDITIONALLY BOARD MEMBERS ARE ASKED TO LAY OUT AND ADDRESS AN POTENTIAL CONFLICTS AT THE BEGINNING OF EACH YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MD
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0242956
IRS990/TotalAssetsEOYAmt0308748
IRS990/TotalAssetsGrp/BOYAmt0242956
IRS990/TotalAssetsGrp/EOYAmt0308748
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0125959
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt011278
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt017767
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0406233
IRS990/TotalFunctionalExpensesGrp/TotalAmt0435278
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0178335
IRS990/TotalLiabilitiesEOYAmt0316607
IRS990/TotalLiabilitiesGrp/BOYAmt0178335
IRS990/TotalLiabilitiesGrp/EOYAmt0316607
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt064621
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-7859
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0406233
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0525
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0241314
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0367798
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0242956
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0308748
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt0150841
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt0291452
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02101 E BIDDLE STREET
IRS990/USAddress/CityNm0BALTIMORE
IRS990/USAddress/StateAbbreviationCd0MD
IRS990/USAddress/ZIPCd021213
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt08
IRS990/WebsiteAddressTxt0HTTPS://BETAMORE.COM
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0GREG CANGIALOSI
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum04432962382
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-03-27
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0BETAMORE INC
ReturnHeader/Filer/BusinessNameControlTxt0BETA
ReturnHeader/Filer/EIN0522156026
ReturnHeader/Filer/PhoneNum04432962382
ReturnHeader/Filer/USAddress/AddressLine1Txt02101 E BIDDLE STREET
ReturnHeader/Filer/USAddress/CityNm0BALTIMORE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MD
ReturnHeader/Filer/USAddress/ZIPCd021213
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0520959934
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0ELLIN & TUCKER CHARTERED
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0400 EAST PRATT ST SUITE 200
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0BALTIMORE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd021202
ReturnHeader/PreparerPersonGrp/PhoneNum04107275735
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DAVID J KOMLOSY
ReturnHeader/ReturnTs02023-04-07T09:23:38-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0GREG
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0CANGIALOSI
ReturnHeader/TaxPeriodBeginDt02021-07-01
ReturnHeader/TaxPeriodEndDt02022-06-30
ReturnHeader/TaxYr02021

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.18$2.72$2.54$0.38$0.71$0.34
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.50$2.70$2.20$0.84$1.58$0.74
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.34$2.79$1.45$2.17$3.34$1.17
2022Detailed filing. Detailed filing data is available for this year.$3.09$3.17$0.08$3.68$4.35$0.67
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.43$1.78$0.65$4.49$3.86$0.63
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.01$2.81$0.20$5.19$6.54$1.35
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.87$0.10$1.77$6.53$7.69$1.16
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.35$0.42$2.93$9.71$9.09$0.62
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.00$0.69$2.31$7.84$7.43$0.42
2016Detailed filing. Detailed filing data is available for this year.$2.85$0.96$1.89$6.87$8.45$1.58
2015Summary only. Only limited summary data is available for this year.$3.99$0.51$3.48$6.98$3.85$3.13
2014Detailed filing. Detailed filing data is available for this year.$0.39$0.04$0.35$1.62$2.03$0.41
2013XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.67$0.91$0.76$1.97$3.72$1.75
2012Summary only. Only limited summary data is available for this year.$3.40$0.94$2.46$4.30$5.92$1.62
2011Summary only. Only limited summary data is available for this year.$5.37$1.41$3.96$5.41$5.79$0.38
Peer Organizations

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