Civic Intelligence

Model City Makerspace the Inventor Center

990 • Fiscal year 2023 • EIN 82-2571762

Jul 01, 2022 to Jun 30, 2023 • Filed on Sep 29, 2023

Organization ProfileWWW.THEINVENTORCENTER.COM
118 Shelby StKingsport, TN 37660

(423) 765-0900

Siviq Scores

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

Liabilities / Assets

62nd percentile

0.00x

Higher debt load relative to assets than 62% of similar nonprofits.

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

Liabilities / Revenue

69th percentile

0.01x

Higher debt load relative to revenue than 69% of similar nonprofits.

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

Net Margin

9th percentile

-63%

Higher net margin than 9% 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

31st percentile

-11%

Faster asset growth than 31% of similar nonprofits.

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

Revenue Growth

18th percentile

-32%

Faster revenue growth than 18% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets62nd percentile

Assets

Down

$291,727

Down $35,688 (-11%) from 2022

Net Assets

Down

$290,978

Down $36,437 (-11%) from 2022

Liabilities

Up

$749

Up $749 from 2022

Revenue And Expenses
Liabilities / Revenue69th percentileNet Margin9th percentile

Revenue

Down

$57,919

Down $26,882 (-32%) from 2022

Expenses

Up

$94,356

Up $12,716 (+16%) from 2022

Net Income

Down

-$36,437

Down $39,598 (-1253%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth31st percentile

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

$400K$300K$200K$100K$0Assets 2019: $1Liabilities 2019: $02019Assets 2020: $342,990Liabilities 2020: $12,319Net Assets 2020: $330,6712020Assets 2021: $324,254Liabilities 2021: $0Net Assets 2021: $324,2542021Assets 2022: $327,415Liabilities 2022: $0Net Assets 2022: $327,4152022Assets 2023: $291,727Liabilities 2023: $749Net Assets 2023: $290,9782023Assets 2024: $282,127Liabilities 2024: $0Net Assets 2024: $282,1272024Assets 2025: $250,226Liabilities 2025: $0Net Assets 2025: $250,2262025

Highlighted filing

2023

Assets$291,727
Liabilities$749
Net Assets$290,978
Open 2023 Filing

Operations Trend

Revenue Growth18th percentile

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

$400K$300K$200K$100K$0-$100KRevenue 2019: $0Expenses 2019: $0Net Income 2019: $02019Revenue 2020: $355,923Expenses 2020: $25,252Net Income 2020: $330,6712020Revenue 2021: $85,093Expenses 2021: $91,510Net Income 2021: -$6,4172021Revenue 2022: $84,801Expenses 2022: $81,640Net Income 2022: $3,1612022Revenue 2023: $57,919Expenses 2023: $94,356Net Income 2023: -$36,4372023Revenue 2024: $91,495Expenses 2024: $100,346Net Income 2024: -$8,8512024Revenue 2025: $53,352Expenses 2025: $85,253Net Income 2025: -$31,9012025

Highlighted filing

2023

Revenue$57,919
Expenses$94,356
Net Income-$36,437
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Sep 29, 2023
Return Version
2022v5.0
Gross Receipts
$57,919
Mission and Program Overview

Mission

Model city makerspace aims to create a world-class center for learning and product development by providing the tools and networks needed to propel product-centered entrepreneurship, inspiring inventors throughout the region, nation, and world to start their business in kingsport

Model city makerspace aims to create a world-class center for learning and product development by providing the tools and networks needed to propel product-centered entrepreneurship, inspiring inventors throughout the region,nation, and world to start their business in kingsport.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$274,289$247,248▼ $27,041
Cash and Non-Interest-Bearing Accounts$51,752$36,479▼ $15,273
Accounts Receivable$1,374$8,000▲ $6,626
Total Assets$327,415$291,727▼ $35,688
Liabilities
Accounts Payable and Accrued Expenses-$749-
Total Liabilities$0$749▲ $749
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$327,415$290,978▼ $36,437
Total Net Assets Fund Balance$327,415$290,978▼ $36,437
Total Liabilities and Net Assets / Fund Balance$327,415$291,727▼ $35,688

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$217,706$25,465$243,171
Equipment$29,542$68,945$98,487
Compensation and Service Providers
Top Officer Pay78th percentile

Board Members and Trustees

NameTitle
Lucy FlemmingPresident
Tom SeglehorstDirector
Steve BowerCity Liaison
Tim SiglinCommunity Re
Casey SalyerMember Rep
Mark DingusMember Rep
Mark EwingMember Rep
Mark SuttonMember Rep
Bonnie MacdonaldTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$28,895
Program Service Revenue
$14,531
Investment Income
$0
Other Revenue
$14,493
Change in Net Assets
$-36,437
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$73,806
Salaries, Compensation, and Employee Benefits$20,550
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion-$27,041-$27,041
Other Salaries and Wages-$19,090-$19,090
Office Expenses-$9,820-$9,820
Occupancy-$8,404-$8,404
Fees for Services Accounting-$3,600-$3,600
Insurance-$3,304-$3,304
Advertising-$3,015-$3,015
All Other Expenses-$1,855-$1,855
Other Expenses$1,531$1,467-$1,467
Payroll Taxes-$1,460-$1,460
Total Functional Expenses$15,300$79,056$0$94,356
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
Annual disclosure for covered persons
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
Yes
Other officer compensation reviewed
Yes
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, Page 6, Part VI, Line 6

“Membership is open to age qualified (saftey) dues paying members. There is only one class of member”

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

“No review was or will be conducted.”

Form 990, Page 6, Part VI, Line 12C

“Conflict of interest policy is accepted and executed by all directors.”

Form 990, Page 6, Part VI, Line 15A

“No officers or directors are compensated.”

Form 990, Page 6, Part VI, Line 15B

“No officers or directors are compensated.”

Form 990, Page 6, Part VI, Line 19

“The 990 is available for public inspection upon request.”

Filing and Contact Details

Filer

Filer Name
Model City Makerspace
EIN
82-2571762
Address
118 SHELBY ST, KINGSPORT, TN 37660
Doing Business As
The Inventor Center

Signing Officer

Name
Lucy Flemming
Title
President
Phone
4237650900
Signed
2023-09-29

Organization Details

Principal Officer
Lucy Flemming
Voting Board Members
10
Independent Board Members
10
Employees
3
Volunteers
30

Preparer

Firm
Kingsport CPA Pc
Address
141 WENDOVER DR, KINGSPORT, TN 37663-2660
Preparer
Darrell Callebs
Phone
4232395700
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“Model city makerspace aims to create a world-class center for learning and product development by providing the tools and networks needed to propel product-centered entrepreneurship, inspiring inventors throughout the region, nation, and world to start their business in kingsport.”

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0MODEL CITY MAKERSPACE AIMS TO CREATE A WORLD-CLASS CENTER FOR LEARNING AND PRODUCT DEVELOPMENT BY PROVIDING THE TOOLS AND NETWORKS NEEDED TO PROPEL PRODUCT-CENTERED ENTREPRENEURSHIP, INSPIRING INVENTORS THROUGHOUT THE REGION, NATION, AND WORLD TO START THEIR BUSINESS IN KINGSPORT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MEMBERSHIP IS OPEN TO AGE QUALIFIED (SAFTEY) DUES PAYING MEMBERS. THERE IS ONLY ONE CLASS OF MEMBER
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO REVIEW WAS OR WILL BE CONDUCTED.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5NO OFFICERS OR DIRECTORS ARE COMPENSATED.
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IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0327415
IRS990/TotalAssetsEOYAmt0291727
IRS990/TotalAssetsGrp/BOYAmt0327415
IRS990/TotalAssetsGrp/EOYAmt0291727
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt028895
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt079056
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt015300
IRS990/TotalFunctionalExpensesGrp/TotalAmt094356
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt0749
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt0749
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0327415
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0290978
IRS990/TotalProgramServiceExpensesAmt015300
IRS990/TotalProgramServiceRevenueAmt014531
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt029024
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt057919
IRS990/TotalVolunteersCnt030
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0327415
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0291727
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0118 SHELBY STREET
IRS990/USAddress/CityNm0KINGSPORT
IRS990/USAddress/StateAbbreviationCd0TN
IRS990/USAddress/ZIPCd037660
IRS990/VotingMembersGoverningBodyCnt010
IRS990/VotingMembersIndependentCnt010
IRS990/WebsiteAddressTxt0WWW.THEINVENTORCENTER.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/PersonNm0LUCY FLEMMING
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum04237650900
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-09-29
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MODEL CITY MAKERSPACE
ReturnHeader/Filer/BusinessNameControlTxt0MODE
ReturnHeader/Filer/EIN0822571762
ReturnHeader/Filer/USAddress/AddressLine1Txt0118 SHELBY ST
ReturnHeader/Filer/USAddress/CityNm0KINGSPORT
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TN
ReturnHeader/Filer/USAddress/ZIPCd037660
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0475489215
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0KINGSPORT CPA PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0141 WENDOVER DR
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0KINGSPORT
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0376632660
ReturnHeader/PreparerPersonGrp/PhoneNum04232395700
ReturnHeader/PreparerPersonGrp/PreparationDt02023-09-29
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DARRELL CALLEBS
ReturnHeader/ReturnTs02023-10-05T15:22:03-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0LUCY
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0FLEMING
ReturnHeader/TaxPeriodBeginDt02022-07-01
ReturnHeader/TaxPeriodEndDt02023-06-30
ReturnHeader/TaxYr02022

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$291,727
Liabilities
$749
Net assets
$290,978
Revenue
$57,919
Expenses
$94,356
Net income
-$36,437
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$2.50$0.00$2.50$0.53$0.85$0.32
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.82$0.00$2.82$0.91$1.00$0.09
2023Detailed filing. Detailed filing data is available for this year.$2.92$0.01$2.91$0.58$0.94$0.36
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.27$0.00$3.27$0.85$0.82$0.03
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.24$0.00$3.24$0.85$0.92$0.06
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.43$0.12$3.31$3.56$0.25$3.31
2019Summary only. Only limited summary data is available for this year.$0.00$0.00$0.00$0.00$0.00