Civic Intelligence

Hatch Avl Foundation

990EZ • Fiscal year 2023 • EIN 81-4712143

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 14, 2024

Organization Profilehatchinnovationhub.org
PO Box 5199Asheville, NC 28813

(828) 337-5955

Siviq Scores

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

Liabilities / Assets

66th percentile

0.02x

Higher debt load relative to assets than 66% of similar nonprofits.

2023 filings • NTEE S • <$500k nonprofits • Source year 2023

Liabilities / Revenue

68th percentile

0.02x

Higher debt load relative to revenue than 68% of similar nonprofits.

2023 filings • NTEE S • <$500k nonprofits • Source year 2023

Net Margin

8th percentile

-66%

Higher net margin than 8% of similar nonprofits.

2023 filings • NTEE S • <$500k nonprofits • Source year 2023

Top Officer Pay

83rd percentile

$2,500

Higher top officer pay than 83% of similar nonprofits.

Top officer pay equals 2.2% of source-year revenue.

2023 filings • NTEE S • <$500k nonprofits • Source year 2023

Asset Growth

13th percentile

-37%

Faster asset growth than 13% of similar nonprofits.

2023 filings • NTEE S • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

15th percentile

-39%

Faster revenue growth than 15% of similar nonprofits.

2023 filings • NTEE S • <$500k nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets66th percentile

Assets

Down

$122,766

Down $73,091 (-37%) from 2022

Net Assets

Down

$120,540

Down $75,317 (-38%) from 2022

Liabilities

$2,226

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue68th percentileNet Margin8th percentile

Revenue

Down

$113,316

Down $71,714 (-39%) from 2022

Expenses

Up

$188,633

Up $74,149 (+65%) from 2022

Net Income

Down

-$75,317

Down $145,863 (-207%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth13th percentile

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

$300K$200K$100K$0Assets 2021: $123,276Net Assets 2021: $123,2762021Assets 2022: $195,857Net Assets 2022: $195,8572022Assets 2023: $122,766Liabilities 2023: $2,226Net Assets 2023: $120,5402023Assets 2024: $222,896Liabilities 2024: $630Net Assets 2024: $222,2662024

Highlighted filing

2023

Assets$122,766
Liabilities$2,226
Net Assets$120,540
Open 2023 Filing

Operations Trend

Revenue Growth15th percentile

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

$300K$200K$100K$0-$100KRevenue 2021: $122,809Expenses 2021: $57,793Net Income 2021: $65,0162021Revenue 2022: $185,030Expenses 2022: $114,484Net Income 2022: $70,5462022Revenue 2023: $113,316Expenses 2023: $188,633Net Income 2023: -$75,3172023Revenue 2024: $274,169Expenses 2024: $172,443Net Income 2024: $101,7262024

Highlighted filing

2023

Revenue$113,316
Expenses$188,633
Net Income-$75,317
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 14, 2024
Return Version
2023v5.1
Gross Receipts
$113,316
Mission and Program Overview

Mission

The Hatch Innovation Hub is the home of high growth focused entrepreneurs in Asheville and Western North Carolina

Program Services

DescriptionGrantsExpenses
Pressure Tests: This 30 to 90-day sprint with expert, hand-picked mentors helpsfounders pinpoint obstacles and pave the way to success. in 2023, fourcompanies have completed the Pressure Test experience$16,300$169,770
1 Million Cups connects founders, mentors, and investors to the WNC startup ecosystem. This weekly event averages 54 attendees. In 2023, 52 companiespresented, sharing a wealth of knowledge with participants.$0$0
Hatch provides a safe environment for entrepreneurs to pitch their ideas to peers, founders, and investors, which is a crucial skill for success. In 2023, there were7 pitch parties with 5-8 companies presenting at each, averaging 25 attendees each$0$0
Compensation and Service Providers
Top Officer Pay83rd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Charlie BallBoard Member-$2,500-$2,500
Mike BaerChairPT$0--
Maui VangVice ChairPT$0--
Chris BuehlerTreasurer-$0--
Laura JuarezSecretary-$0--
Angela BrandtBoard Member-$0--
Kim CelentanoBoard Member-$0--
Chris DevaultBoard Member-$0--
Jesse FrippBoard Member-$0--
Eileen HutchisonBoard Member-$0--
Jon JonesBoard Member-$0--
Jeff KaplanBoard Member-$0--
Susan Clark MunteanBoard Member-$0--
Meg RaglandBoard Member-$0--
Betty ShottonBoard Member-$0--
Filing and Contact Details

Filer

Filer Name
Hatch AVL Foundation
EIN
81-4712143
Phone
8283375955
Address
PO Box 5199, Asheville, NC 28813

Signing Officer

Name
Isaac Rowles
Title
Treasurer
Phone
8283375955
Signed
2024-11-14
Discuss with paid preparer
Yes

Preparer

Firm
Corliss & Solomon Pllc
Address
242 CHARLOTTE ST SUITE 1, ASHEVILLE, NC 28801
Preparer
Todd Oldenburg
Phone
8282360206
Supplemental Narrative

Additional Explanations

Form 990EZ, Part I, Line 10

“Scholarhsips; Education; 16 Scholarships: , , , ; None, 16300.”

Form 990EZ, Part I, Line 16

“Advertising 45905.”

Form 990EZ, Part I, Line 16

“Insurance 2317.”

Form 990EZ, Part I, Line 16

“Office Expenses 1915.”

Form 990EZ, Part I, Line 16

“Information Technology 3925.”

Form 990EZ, Part I, Line 16

“Event Supplies 3716.”

Form 990EZ, Part I, Line 16

“Program Expenses 24791.”

Form 990EZ, Part I, Line 16

“Board Events and Meals 5778.”

Form 990EZ, Part I, Line 16

“Depreciation 2514.”

Form 990EZ, Part II, Line 24

“Equipment - net of depreciation 5249. 2735.”

Form 990EZ, Part II, Line 24

“Due from Hatchworks 477.”

Raw XML Appendix256 raw XML fields

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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IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm0Mike Baer
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm1Maui Vang
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm2Chris Buehler
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm3Laura Juarez
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm4Charlie Ball
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm5Angela Brandt
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm6Kim Celentano
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm7Chris Devault
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm8Jesse Fripp
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm9Eileen Hutchison
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm10Jon Jones
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm11Jeff Kaplan
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm12Susan Clark Muntean
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm13Meg Ragland
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm14Betty Shotton
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt0Chair
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt1Vice Chair
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt2Treasurer
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt3Secretary
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt4Board Member
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt5Board Member
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt6Board Member
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt7Board Member
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt8Board Member
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IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt12Board Member
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt13Board Member
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IRS990EZ/OperateHospitalInd0false
IRS990EZ/Organization501c3Ind0X
IRS990EZ/OrganizationDissolvedEtcInd0false
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IRS990EZ/OtherAssetsTotalDetail/BOYAmt05726
IRS990EZ/OtherAssetsTotalDetail/EOYAmt02735
IRS990EZ/OtherExpensesTotalAmt090861
IRS990EZ/PartVIHghstPdCntrctProfSrvcTxt0NONE
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IRS990EZ/PrimaryExemptPurposeTxt0The Hatch Innovation Hub is the home of high growth focused entrepreneurs in Asheville and Western North Carolina
IRS990EZ/ProgramServiceRevenueAmt00
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IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt11 Million Cups connects founders, mentors, and investors to the WNC startup ecosystem. This weekly event averages 54 attendees. In 2023, 52 companiespresented, sharing a wealth of knowledge with participants.
IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt2Hatch provides a safe environment for entrepreneurs to pitch their ideas to peers, founders, and investors, which is a crucial skill for success. In 2023, there were7 pitch parties with 5-8 companies presenting at each, averaging 25 attendees each
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Scholarhsips; Education; 16 Scholarships: , , , ; None, 16300.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Advertising 45905.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Insurance 2317.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Office Expenses 1915.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Information Technology 3925.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Event Supplies 3716.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Program Expenses 24791.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7Board Events and Meals 5778.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8Depreciation 2514.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9Equipment - net of depreciation 5249. 2735.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt10Due from Hatchworks 477.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990EZ, Part I, Line 10
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990EZ, Part I, Line 16
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990EZ, Part I, Line 16
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990EZ, Part I, Line 16
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990EZ, Part I, Line 16
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990EZ, Part I, Line 16
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990EZ, Part I, Line 16
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Form 990EZ, Part I, Line 16
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8Form 990EZ, Part I, Line 16
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc9Form 990EZ, Part II, Line 24
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc10Form 990EZ, Part II, Line 24
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Isaac Rowles
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Treasurer
ReturnHeader/BusinessOfficerGrp/PhoneNum08283375955
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-11-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Hatch AVL Foundation
ReturnHeader/Filer/BusinessNameControlTxt0HATC
ReturnHeader/Filer/EIN0814712143
ReturnHeader/Filer/PhoneNum08283375955
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO Box 5199
ReturnHeader/Filer/USAddress/CityNm0Asheville
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd028813
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0202571677
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CORLISS & SOLOMON PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0242 CHARLOTTE ST SUITE 1
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0ASHEVILLE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd028801
ReturnHeader/PreparerPersonGrp/PhoneNum08282360206
ReturnHeader/PreparerPersonGrp/PreparationDt02024-11-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Todd Oldenburg
ReturnHeader/ReturnTs02024-11-14T13:58:21-08:00
ReturnHeader/ReturnTypeCd0990EZ
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990EZDetailed filing. Detailed filing data is available for this year.

Open filing
Assets
$122,766
Liabilities
$2,226
Net assets
$120,540
Revenue
$113,316
Expenses
$188,633
Net income
-$75,317
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.23$0.01$2.22$2.74$1.72$1.02
2023Detailed filing. Detailed filing data is available for this year.$1.23$0.02$1.21$1.13$1.89$0.75
2022Detailed filing. Detailed filing data is available for this year.$1.96$1.96$1.85$1.14$0.71
2021Detailed filing. Detailed filing data is available for this year.$1.23$1.23$1.23$0.58$0.65