Civic Intelligence

Incubator Kitchen Collective Co

990 • Fiscal year 2021 • EIN 81-4918647

Jan 01, 2021 to Dec 31, 2021 • Filed on May 10, 2022

Organization ProfileWWW.INCUBATORKITCHENCOLLECTIVE.ORG
517 W 7th StNewport, KY 41071

(859) 638-4317

Siviq Scores

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

Liabilities / Assets

78th percentile

0.11x

Higher debt load relative to assets than 78% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Liabilities / Revenue

67th percentile

0.02x

Higher debt load relative to revenue than 67% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Net Margin

32nd percentile

-2.1%

Higher net margin than 32% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Top Officer Pay

77th percentile

$0

Higher top officer pay than 77% of similar nonprofits.

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

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Asset Growth

35th percentile

-2.5%

Faster asset growth than 35% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Revenue Growth

50th percentile

3.3%

Faster revenue growth than 50% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets78th percentile

Assets

Down

$36,851

Down $956 (-2.5%) from 2020

Net Assets

Down

$32,797

Down $5,010 (-13%) from 2020

Liabilities

Up

$4,054

Up $4,054 from 2020

Revenue And Expenses
Liabilities / Revenue67th percentileNet Margin32nd percentile

Revenue

Up

$239,830

Up $7,600 (+3.3%) from 2020

Expenses

Up

$244,840

Up $39,487 (+19%) from 2020

Net Income

Down

-$5,010

Down $31,887 (-119%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth35th percentile

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

$100K$50K$0-$50KAssets 2017: $6,125Liabilities 2017: $5,318Net Assets 2017: $8072017Assets 2018: $867Liabilities 2018: $2,354Net Assets 2018: -$1,4872018Assets 2019: $17,261Liabilities 2019: $4,642Net Assets 2019: $12,6192019Assets 2020: $37,807Liabilities 2020: $0Net Assets 2020: $37,8072020Assets 2021: $36,851Liabilities 2021: $4,054Net Assets 2021: $32,7972021Assets 2022: $44,888Liabilities 2022: $762Net Assets 2022: $44,1262022Assets 2023: $80,007Liabilities 2023: $619Net Assets 2023: $79,3882023Assets 2024: $68,900Liabilities 2024: $960Net Assets 2024: $67,9402024

Highlighted filing

2021

Assets$36,851
Liabilities$4,054
Net Assets$32,797
Open 2021 Filing

Operations Trend

Revenue Growth50th percentile

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

$400K$300K$200K$100K$0-$100KRevenue 2017: $132,842Expenses 2017: $132,035Net Income 2017: $8072017Revenue 2018: $224,781Expenses 2018: $227,075Net Income 2018: -$2,2942018Revenue 2019: $183,332Expenses 2019: $169,226Net Income 2019: $14,1062019Revenue 2020: $232,230Expenses 2020: $205,353Net Income 2020: $26,8772020Revenue 2021: $239,830Expenses 2021: $244,840Net Income 2021: -$5,0102021Revenue 2022: $294,794Expenses 2022: $283,465Net Income 2022: $11,3292022Revenue 2023: $302,886Expenses 2023: $267,624Net Income 2023: $35,2622023Revenue 2024: $307,620Expenses 2024: $319,068Net Income 2024: -$11,4482024

Highlighted filing

2021

Revenue$239,830
Expenses$244,840
Net Income-$5,010
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
May 10, 2022
Return Version
2021v4.0
Gross Receipts
$239,830
Mission and Program Overview

Mission

Incubator kitchen collective creates a shared kitchen space to support food entrepreneurs with an affordable, comprehensive approach. At ikc, food entrepreneurs will find below-market rate licensed kitchen facilities; food-focused entrepreneurial education; a network of markets, investors, mentors and a community of passionate, like-minded peers. During 2018, ikc held four different learning workshops, supported over 35 companies to launch and grow, and started a food education series.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net-$27,426-
Cash and Non-Interest-Bearing Accounts$36,773$9,035▼ $27,738
Accounts Receivable-$390-
Total Assets$37,807$36,851▼ $956
Other Assets Total$1,034--
Liabilities
Accounts Payable and Accrued Expenses-$4,054-
Total Liabilities$0$4,054▲ $4,054
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$37,807$32,797▼ $5,010
Total Net Assets Fund Balance$37,807$32,797▼ $5,010
Total Liabilities and Net Assets / Fund Balance$37,807$36,851▼ $956

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$27,426$32,188$59,614
Leasehold Improvements-$6,643$6,643
Compensation and Service Providers
Top Officer Pay77th percentile

Board Members and Trustees

NameTitle
Gerald GrubbsDirector
Stephanie Beck BordenDirector
Rachel DesrochersCEO
Revenue and Support

Revenue Composition

Contributions and Grants
$25,350
Program Service Revenue
$213,730
Investment Income
$0
Other Revenue
$750
All Other Contributions
$25,350
Change in Net Assets
$-5,010
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$176,073
Salaries, Compensation, and Employee Benefits$68,767
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$98,373--$98,373
Other Salaries and Wages$31,780$31,781-$63,561
Depreciation Depletion$17,251--$17,251
Fees for Services Other-$8,440-$8,440
Conferences and Meetings$7,435--$7,435
Payroll Taxes$2,603$2,603-$5,206
Insurance$1,853$1,853-$3,706
Fees for Services Accounting$3,568--$3,568
Advertising-$2,122-$2,122
Information Technology$812$813-$1,625
Office Expenses-$1,553-$1,553
Other Expenses$130--$130
All Other Expenses-$5-$5
Total Functional Expenses$195,670$49,170$0$244,840
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“No review was or will be conducted.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Incubator Kitchen Collective
EIN
81-4918647
Address
517 W 7TH ST, NEWPORT, KY 41071

Signing Officer

Name
Rachel Desrochers
Title
CEO
Phone
8596384317
Signed
2022-05-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Rachel Desrochers
Formed
2016
Voting Board Members
3
Independent Board Members
2
Employees
2

Preparer

Firm
Orcutt & Company Cpas Ltd
Address
936 STATE ROUTE 28, MILFORD, OH 45150-1912
Preparer
Deborah Brady CPA
Phone
5135761989
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“Incubator kitchen collective creates a shared kitchen space to support food entrepreneurs with an affordable, comprehensive approach. At ikc, food entrepreneurs will find below-market rate licensed kitchen facilities; food-focused entrepreneurial education; a network of markets, investors, mentors and a community of passionate, like-minded peers. During 2018, ikc held four different learning workshops, supported over 35 companies to launch and grow, and started a food education series.”

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0INCUBATOR KITCHEN COLLECTIVE CREATES A SHARED KITCHEN SPACE TO SUPPORT FOOD ENTREPRENEURS WITH AN AFFORDABLE, COMPREHENSIVE APPROACH. AT IKC, FOOD ENTREPRENEURS WILL FIND BELOW-MARKET RATE LICENSED KITCHEN FACILITIES; FOOD-FOCUSED ENTREPRENEURIAL EDUCATION; A NETWORK OF MARKETS, INVESTORS, MENTORS AND A COMMUNITY OF PASSIONATE, LIKE-MINDED PEERS. DURING 2018, IKC HELD FOUR DIFFERENT LEARNING WORKSHOPS, SUPPORTED OVER 35 COMPANIES TO LAUNCH AND GROW, AND STARTED A FOOD EDUCATION SERIES.
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IRS990/TaxablePartyNotificationInd0false
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IRS990/TotalAssetsEOYAmt036851
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IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0213730
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0239830
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IRS990/TypeOfOrganizationCorpInd0X
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IRS990/WebsiteAddressTxt0WWW.INCUBATORKITCHENCOLLECTIVE.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0RACHEL DESROCHERS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum08596384317
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-05-10
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0INCUBATOR KITCHEN COLLECTIVE
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0DESROCHERS
ReturnHeader/Filer/BusinessNameControlTxt0INCU
ReturnHeader/Filer/EIN0814918647
ReturnHeader/Filer/USAddress/AddressLine1Txt0517 W 7TH ST
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ReturnHeader/Filer/USAddress/StateAbbreviationCd0KY
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0936 STATE ROUTE 28
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MILFORD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0OH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0451501912
ReturnHeader/PreparerPersonGrp/PhoneNum05135761989
ReturnHeader/PreparerPersonGrp/PreparationDt02022-05-09
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DEBORAH BRADY CPA
ReturnHeader/ReturnTs02022-05-13T10:22:26-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0RACHEL
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0DESROCHERS
ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$36,851
Liabilities
$4,054
Net assets
$32,797
Revenue
$239,830
Expenses
$244,840
Net income
-$5,010
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.69$0.01$0.68$3.08$3.19$0.11
2023Detailed filing. Detailed filing data is available for this year.$0.80$0.01$0.79$3.03$2.68$0.35
2022Detailed filing. Detailed filing data is available for this year.$0.45$0.01$0.44$2.95$2.83$0.11
2021Detailed filing. Detailed filing data is available for this year.$0.37$0.04$0.33$2.40$2.45$0.05
2020Detailed filing. Detailed filing data is available for this year.$0.38$0.00$0.38$2.32$2.05$0.27
2019Detailed filing. Detailed filing data is available for this year.$0.17$0.05$0.13$1.83$1.69$0.14
2018Detailed filing. Detailed filing data is available for this year.$0.01$0.02$0.01$2.25$2.27$0.02
2017Detailed filing. Detailed filing data is available for this year.$0.06$0.05$0.01$1.33$1.32$0.01