Civic Intelligence

Westlake Innovation Fund Inc

EIN 82-1573513 • 501(c)3 • Austin, TX

Profile

The westlake innovation fund isa broad effort to bring authentic, rigorous entrepreneurial education to westlake high school students and across the broader community. This fund works to raise money that will be used across disciplines and venues toward its mission. Upon formation, the westlake innovation fund immediately worked to support efforts to install a video wall in the westlake pac, created an accelerator class for the student teams whose companies get funded thru the westlake incubator (oraremaking money) and teach the necessary skills that are so essential to start-ups.

601 Camp Craft RoadAustin, TX 78746

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on the latest valid filing.

Source year 2021

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on the latest valid filing.

Source year 2021

Net Margin

94th percentile

70%

Higher net margin than 94% of similar nonprofits.

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

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2021

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2021

Assets

$102,226

No earlier filing loaded for comparison.

Liabilities

-

No earlier filing loaded for comparison.

Net Assets

$102,226

No earlier filing loaded for comparison.

Revenue

$65,865

No earlier filing loaded for comparison.

Expenses

$19,864

No earlier filing loaded for comparison.

Net Income

$46,001

No earlier filing loaded for comparison.

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$150K$100K$50K$0Assets 2021: $102,226Net Assets 2021: $102,2262021

Highlighted filing

2021

Assets$102,226
Liabilities-
Net Assets$102,226

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$80K$60K$40K$20K$0Revenue 2021: $65,865Expenses 2021: $19,864Net Income 2021: $46,0012021

Highlighted filing

2021

Revenue$65,865
Expenses$19,864
Net Income$46,001

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2021Detailed filing. Detailed filing data is available for this year.$1.02$1.02$0.66$0.20$0.46
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 8, 2022
Return Version
2021v4.0
Gross Receipts
$65,865
Mission and Program Overview

Mission

The westlake innovation fund isa broad effort to bring authentic, rigorous entrepreneurial education to westlake high school students and across the broader community. This fund works to raise money that will be used across disciplines and venues toward its mission. Upon formation, the westlake innovation fund immediately worked to support efforts to install a video wall in the westlake pac, created an accelerator class for the student teams whose companies get funded thru the westlake incubator (oraremaking money) and teach the necessary skills that are so essential to start-ups.

Program Services

DescriptionGrantsExpenses
JACKSON COKER WESTLAKE INCUBATOR SCHOLARSHIP PROGRAM IN HONOR OF OUR FRIEND, JACKSON COKER. JACKSON WAS A KEY MEMBER OF THE SECOND PLACE WESTLAKE INCUBATOR TEAM CALLED STRAW ONE IN 2019 AND WAS PROMOTED TO THE ACCELERATOR PROGRAM, WHERE ALONGSIDE HIS TEAM AND MENTOR, THEY USED THEIR PRIZE MONEY TO WORK ON DEVELOPING THEIR COMPANY. JACKSON EXCELLED IN THE BUSINESS INCUBATOR PROGRAM, WAS A MEMBER OF THE C SOCIETY, AND WAS 16 AND THE HEART AND SOUL OF THE WHS 2019 STATE CHAMPIONSHIP FOOTBALL TEAM. JACKSON WAS A BRILLIANT STUDENT WHO WAS CURRENTLY ATTENDING AND PLAYING FOOTBALL AT COLUMBIA UNIVERSITY UNTIL HIS UNTIMELY PASSING.$10,000$10,000
PITCH PROGRAM - PITCH WEEK HELPS TO FURTHER FIRE THE ENTREPRENEURIAL SPIRIT BY PUTTING STUDENT TEAMS IN FRONT OF ACTUAL INVESTORS TO PITCH THEIR PRODUCT/SERVICE IDEA WITH THE POSSIBILITY OF BEING AWARDED FUNDING THAT WILL HELP TURN THEIR BUSINESS PLANS INTO REALITY.-$5,032
MVP FUNDING - MINIMUM VIABLE PRODUCT (MVP) PRESENTATION TO SECURE FUNDING TO TEST THE STUDENT'S PRODUCT.-$2,741
PROGRAM SERVICES: SEE MISSION STATEMENT-$1,800
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
BRIAN THOMASPresident-$0--
ZAHARO TSEKOURASChief Of Sta-$0--
MELISSA F RONESTreasurer-$0--
KURT WILKINBoard Member-$0--
JULIE JUMONVILLEBoard Member-$0--
KATINA KENYONBoard Member-$0--
KIM ALLENBoard Member-$0--
PHILLIP ERNSTBoard Member-$0--
SAM ZABANEHBoard Member-$0--
LEWIS TALBERTBoard Member-$0--
CAROLINE GOODNERBoard Member-$0--
Filing and Contact Details

Filer

Filer Name
Westlake Innovation Fund Inc
EIN
82-1573513
Phone
5126598852
Address
601 CAMP CRAFT ROAD, AUSTIN, TX 78746

Signing Officer

Name
Melissa F Rones
Title
Treasurer
Phone
5126598852
Signed
2022-11-08
Discuss with paid preparer
Yes

Preparer

Firm
Ruben D Franco CPA LLC
Address
2202 TREASURE HILLS BLVD STE 4, HARLINGEN, TX 78550-8554
Preparer
Ruben D Franco
Phone
9564231222
Supplemental Narrative

Additional Explanations

Form 990-ez, Part I, Line 10

Class of activity: scholarships cash contribution: 10,000

Form 990-ez, Part I, Line 16

Expenses bank fees 262 fte seed program funding 750 mvp funding 2,741 networking / mentoring 441 board meeting 347 pitch night awards 5,032 total 9,573

Form 990-ez, Part III

The westlake innovation fund isa broad effort to bring authentic, rigorous entrepreneurial education to westlake high school students and across the broader community. This fund works to raise money that will be used across disciplines and venues toward its mission. Upon formation, the westlake innovation fund immediately worked to support efforts to install a video wall in the westlake pac, created an accelerator class for the student teams whose companies get funded thru the westlake incubator (oraremaking money) and teach the necessary skills that are so essential to start-ups.

Form 990-ez, Part III, Line 28

Jackson coker westlake incubator scholarship program in honor of our friend, jackson coker. Jackson was a key member of the second place westlake incubator team called straw one in 2019 and was promoted to the accelerator program, where alongside his team and mentor, they used their prize money to work on developing their company. Jackson excelled in the business incubator program, was a member of the c society, and was 16 and the heart and soul of the whs 2019 state championship football team. Jackson was a brilliant student who was currently attending and playing football at columbia university until his untimely passing.

Form 990-ez, Part III, Line 29

Pitch program - pitch week helps to further fire the entrepreneurial spirit by putting student teams in front of actual investors to pitch their product/service idea with the possibility of being awarded funding that will help turn their business plans into reality.

Form 990-ez, Part III, Line 31

Program services: see mission statement

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IRS990EZ/PrimaryExemptPurposeTxt0THE WESTLAKE INNOVATION FUND ISA BROAD EFFORT TO BRING AUTHENTIC, RIGOROUS ENTREPRENEURIAL EDUCATION TO WESTLAKE HIGH SCHOOL STUDENTS AND ACROSS THE BROADER COMMUNITY. THIS FUND WORKS TO RAISE MONEY THAT WILL BE USED ACROSS DISCIPLINES AND VENUES TOWARD ITS MISSION. UPON FORMATION, THE WESTLAKE INNOVATION FUND IMMEDIATELY WORKED TO SUPPORT EFFORTS TO INSTALL A VIDEO WALL IN THE WESTLAKE PAC, CREATED AN ACCELERATOR CLASS FOR THE STUDENT TEAMS WHOSE COMPANIES GET FUNDED THRU THE WESTLAKE INCUBATOR (ORAREMAKING MONEY) AND TEACH THE NECESSARY SKILLS THAT ARE SO ESSENTIAL TO START-UPS.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0CLASS OF ACTIVITY: SCHOLARSHIPS CASH CONTRIBUTION: 10,000
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1EXPENSES BANK FEES 262 FTE SEED PROGRAM FUNDING 750 MVP FUNDING 2,741 NETWORKING / MENTORING 441 BOARD MEETING 347 PITCH NIGHT AWARDS 5,032 TOTAL 9,573
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE WESTLAKE INNOVATION FUND ISA BROAD EFFORT TO BRING AUTHENTIC, RIGOROUS ENTREPRENEURIAL EDUCATION TO WESTLAKE HIGH SCHOOL STUDENTS AND ACROSS THE BROADER COMMUNITY. THIS FUND WORKS TO RAISE MONEY THAT WILL BE USED ACROSS DISCIPLINES AND VENUES TOWARD ITS MISSION. UPON FORMATION, THE WESTLAKE INNOVATION FUND IMMEDIATELY WORKED TO SUPPORT EFFORTS TO INSTALL A VIDEO WALL IN THE WESTLAKE PAC, CREATED AN ACCELERATOR CLASS FOR THE STUDENT TEAMS WHOSE COMPANIES GET FUNDED THRU THE WESTLAKE INCUBATOR (ORAREMAKING MONEY) AND TEACH THE NECESSARY SKILLS THAT ARE SO ESSENTIAL TO START-UPS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3JACKSON COKER WESTLAKE INCUBATOR SCHOLARSHIP PROGRAM IN HONOR OF OUR FRIEND, JACKSON COKER. JACKSON WAS A KEY MEMBER OF THE SECOND PLACE WESTLAKE INCUBATOR TEAM CALLED STRAW ONE IN 2019 AND WAS PROMOTED TO THE ACCELERATOR PROGRAM, WHERE ALONGSIDE HIS TEAM AND MENTOR, THEY USED THEIR PRIZE MONEY TO WORK ON DEVELOPING THEIR COMPANY. JACKSON EXCELLED IN THE BUSINESS INCUBATOR PROGRAM, WAS A MEMBER OF THE C SOCIETY, AND WAS 16 AND THE HEART AND SOUL OF THE WHS 2019 STATE CHAMPIONSHIP FOOTBALL TEAM. JACKSON WAS A BRILLIANT STUDENT WHO WAS CURRENTLY ATTENDING AND PLAYING FOOTBALL AT COLUMBIA UNIVERSITY UNTIL HIS UNTIMELY PASSING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4PITCH PROGRAM - PITCH WEEK HELPS TO FURTHER FIRE THE ENTREPRENEURIAL SPIRIT BY PUTTING STUDENT TEAMS IN FRONT OF ACTUAL INVESTORS TO PITCH THEIR PRODUCT/SERVICE IDEA WITH THE POSSIBILITY OF BEING AWARDED FUNDING THAT WILL HELP TURN THEIR BUSINESS PLANS INTO REALITY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5PROGRAM SERVICES: SEE MISSION STATEMENT
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