Civic Intelligence

Incubator Kitchen Collective Co

990 • Fiscal year 2023 • EIN 81-4918647

Jan 01, 2023 to Dec 31, 2023 • Filed on May 21, 2024

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

(513) 227-6537

Siviq Scores

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

Liabilities / Assets

65th percentile

0.01x

Higher debt load relative to assets than 65% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

61st percentile

0.00x

Higher debt load relative to revenue than 61% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Net Margin

64th percentile

12%

Higher net margin than 64% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

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.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Asset Growth

90th percentile

78%

Faster asset growth than 90% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

48th percentile

2.7%

Faster revenue growth than 48% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets65th percentile

Assets

Up

$80,007

Up $35,119 (+78%) from 2022

Net Assets

Up

$79,388

Up $35,262 (+80%) from 2022

Liabilities

Down

$619

Down $143 (-19%) from 2022

Revenue And Expenses
Liabilities / Revenue61st percentileNet Margin64th percentile

Revenue

Up

$302,886

Up $8,092 (+2.7%) from 2022

Expenses

Down

$267,624

Down $15,841 (-5.6%) from 2022

Net Income

Up

$35,262

Up $23,933 (+211%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth90th 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

2023

Assets$80,007
Liabilities$619
Net Assets$79,388
Open 2023 Filing

Operations Trend

Revenue Growth48th 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

2023

Revenue$302,886
Expenses$267,624
Net Income$35,262
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
May 21, 2024
Return Version
2023v5.0
Gross Receipts
$302,886
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
Cash and Non-Interest-Bearing Accounts$18,175$49,616▲ $31,441
Land, Buildings, and Equipment, Net$26,713$30,391▲ $3,678
Total Assets$44,888$80,007▲ $35,119
Liabilities
Accounts Payable and Accrued Expenses$762$619▼ $143
Total Liabilities$762$619▼ $143
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$44,126$79,388▲ $35,262
Total Net Assets Fund Balance$44,126$79,388▲ $35,262
Total Liabilities and Net Assets / Fund Balance$44,888$80,007▲ $35,119

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$30,391$57,618$88,009
Leasehold Improvements-$6,643$6,643
Compensation and Service Providers
Top Officer Pay78th percentile

Board Members and Trustees

NameTitle
Gerald GrubbsDirector
Stephanie Beck BordenDirector
Rachel DesrochersExecutive Di
Revenue and Support

Revenue Composition

Contributions and Grants
$43,720
Program Service Revenue
$259,091
Investment Income
$0
Other Revenue
$75
All Other Contributions
$43,720
Change in Net Assets
$35,262
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$188,387
Salaries, Compensation, and Employee Benefits$79,237
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$102,950--$102,950
Other Salaries and Wages$36,514$36,515-$73,029
Fees for Services Accounting$9,754--$9,754
Conferences and Meetings$8,686--$8,686
Depreciation Depletion$8,224--$8,224
Payroll Taxes$3,104$3,104-$6,208
Insurance$2,142$2,143-$4,285
All Other Expenses$3,201$55-$3,256
Office Expenses-$2,642-$2,642
Other Expenses$2,272--$2,272
Advertising-$1,131-$1,131
Information Technology$459$460-$919
Fees for Services Other-$533-$533
Total Functional Expenses$221,041$46,583$0$267,624
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
Phone
5132276537
Address
517 W 7TH ST, NEWPORT, KY 41071

Signing Officer

Name
Rachel Desrochers
Title
Executive Director
Phone
8596384317
Signed
2024-05-21
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Rachel Desrochers
Formed
2016
Voting Board Members
3
Independent Board Members
2
Employees
5

Preparer

Firm
Orcutt & Company LLC
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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
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IRS990/TotalAssetsEOYAmt080007
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IRS990/TotalEmployeeCnt05
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0221041
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IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0259091
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0302886
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IRS990/TypeOfOrganizationCorpInd0X
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ReturnHeader/BuildTS02023-04-26 12:10:37Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0RACHEL DESROCHERS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum08596384317
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-05-21
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ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0DESROCHERS
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MILFORD
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0451501912
ReturnHeader/PreparerPersonGrp/PhoneNum05135761989
ReturnHeader/PreparerPersonGrp/PreparationDt02024-05-29
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DEBORAH BRADY CPA
ReturnHeader/ReturnTs02024-07-03T16:43:16-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0RACHEL
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0DESROCHERS
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

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Filings

Displayed year

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

Open filing
Assets
$80,007
Liabilities
$619
Net assets
$79,388
Revenue
$302,886
Expenses
$267,624
Net income
$35,262
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