Civic Intelligence

Ignite Technology and Innovation Inc

EIN 82-2863800 • 501(c)3 • Chicago, IL

Profile

To create equitable wealth and share prosperity in under-resourced communities. We develop affordable, accessible coffee and coworking spaces enriched with classes and programs. Our programs inspire, encourage, nurture, and grow the untapped ideas of underrepresented entrepreneurs by providing local access to technology, resources, mentorship, and strategic connections to potential partners and inventors.

2150 S Canalport Ste 2A 11Chicago, IL 60608

www.ignitetechnology.com

Siviq Scores

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

Liabilities / Assets

97th percentile

2.68x

Higher debt load relative to assets than 97% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2024

Liabilities / Revenue

97th percentile

2.28x

Higher debt load relative to revenue than 97% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2024

Net Margin

62nd percentile

8.5%

Higher net margin than 62% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

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

Asset Growth

24th percentile

-32%

Faster asset growth than 24% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2022 to 2024

Revenue Growth

29th percentile

-24%

Faster revenue growth than 29% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2022 to 2024

Balance Sheet
Liabilities / Assets97th percentile

Assets

Up

$249,692

Up $340,410 (+375%) from 2023

Liabilities

Up

$668,099

Up $192,259 (+40%) from 2023

Net Assets

Up

-$418,407

Up $148,151 (+26%) from 2023

Operations
Liabilities / Revenue97th percentileNet Margin62nd percentile

Revenue

Up

$293,429

Up $256,981 (+705%) from 2023

Expenses

Up

$268,569

Up $92,804 (+53%) from 2023

Net Income

Up

$24,860

Up $164,177 (+118%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth24th percentile

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

$1.0M$500K$0-$500K-$1.0MAssets 2018: $0Liabilities 2018: $0Net Assets 2018: $02018Assets 2019: $0Liabilities 2019: $0Net Assets 2019: $02019Assets 2020: $0Liabilities 2020: $0Net Assets 2020: $02020Assets 2021: $127,084Liabilities 2021: $413,335Net Assets 2021: -$286,2512021Assets 2022: $532,182Liabilities 2022: $751,007Net Assets 2022: -$218,8252022Assets 2023: -$90,718Liabilities 2023: $475,840Net Assets 2023: -$566,5582023Assets 2024: $249,692Liabilities 2024: $668,099Net Assets 2024: -$418,4072024

Highlighted filing

2024

Assets$249,692
Liabilities$668,099
Net Assets-$418,407
Open 2024 Filing

Operations Trend

Revenue Growth29th percentile

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

$800K$600K$400K$200K$0-$200KRevenue 2018: $249,168Expenses 2018: $202,479Net Income 2018: $46,6892018Revenue 2019: $278,707Expenses 2019: $331,457Net Income 2019: -$52,7502019Revenue 2020: $308,638Expenses 2020: $475,540Net Income 2020: -$166,9022020Revenue 2021: $572,777Expenses 2021: $605,104Net Income 2021: -$32,3272021Revenue 2022: $502,508Expenses 2022: $193,313Net Income 2022: $309,1952022Revenue 2023: $36,448Expenses 2023: $175,765Net Income 2023: -$139,3172023Revenue 2024: $293,429Expenses 2024: $268,569Net Income 2024: $24,8602024

Highlighted filing

2024

Revenue$293,429
Expenses$268,569
Net Income$24,860
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$249,692
Liabilities
$668,099
Net assets
-$418,407
Revenue
$293,429
Expenses
$268,569
Net income
$24,860
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.50$6.68$4.18$2.93$2.69$0.25
2023Detailed filing. Detailed filing data is available for this year.$0.91$4.76$5.67$0.36$1.76$1.39
2022Detailed filing. Detailed filing data is available for this year.$5.32$7.51$2.19$5.03$1.93$3.09
2021Detailed filing. Detailed filing data is available for this year.$1.27$4.13$2.86$5.73$6.05$0.32
2020Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$3.09$4.76$1.67
2019Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$2.79$3.31$0.53
2018Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$2.49$2.02$0.47
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 14, 2025
Return Version
2024v5.2
Gross Receipts
$293,429
Mission and Program Overview

Mission

Our mission is to create equitable wealth and a shared prosperity in under-resourced communities. We develop affordable , accessible coworking spaces enriched with classes and programs. Our programs inspire, encourage, nurture and grow the untapped ideas of underrepresented entrepreneurs by providing local access to technology, resources, mentorship and strategic connections to potential partners and investors.

To create equitable wealth and share prosperity in under resourced communities we develop affordable accessible coffee and coworking spaces enriched with classes and programs. Our programs inspire encourage nurture and grow the untapped ideas of underrepresented entrepreneurs by

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net-$99,664-
Accounts Receivable$-12,000$21,134▲ $33,134
Cash and Non-Interest-Bearing Accounts$-207,612--
Total Assets$-90,718$249,692▲ $340,410
Other Assets Total$128,894$128,894→ $0
Liabilities
Other Liabilities$330,115$517,034▲ $186,919
Unsecured Notes Loans Payable$132,175$132,175→ $0
Accounts Payable and Accrued Expenses$13,550$18,890▲ $5,340
Total Liabilities$475,840$668,099▲ $192,259
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-566,558$-418,407▲ $148,151
Total Net Assets Fund Balance$-566,558$-418,407▲ $148,151
Total Liabilities and Net Assets / Fund Balance$-90,718$249,692▲ $340,410

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$31,359-$31,359
Equipment$24,871-$24,871
Leasehold Improvements$11,210-$11,210
Other Land Buildings$32,224--
Other Assets Org$4,461--
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Tracy G PowellPresident and Chairman
Christopher PowellBoard of Directors
Derek StevensonBoard of Directors
Revenue and Support

Revenue Composition

Contributions and Grants
$285,277
Program Service Revenue
$7,389
Investment Income
$0
Other Revenue
$763
All Other Contributions
$285,277
Change in Net Assets
$24,860
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$134,544
Salaries, Compensation, and Employee Benefits$134,025
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$120,633--$120,633
Occupancy$101,478--$101,478
Payroll Taxes$13,392--$13,392
All Other Expenses$4,918--$4,918
Advertising$1,338--$1,338
Other Expenses$1,254--$1,254
Office Expenses$1,002--$1,002
Fees for Services Accounting-$646-$646
Fees for Services Other-$199-$199
Total Functional Expenses$267,724$845$0$268,569
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Long Term Loans$307,515
Bank Overdraft$209,519
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Officer directors etc family relationship Part VI line 2

“Officers of the company are married to each other”

Form 990 governing body review Part VI line 11

“Officers of the company review the tax return before the return is submitted”

Governing documents etc available to public Part VI line 19

“Documents are available for review upon request”

Filing and Contact Details

Filer

Filer Name
Ignite Technology and Innovation Inc
EIN
82-2863800
In Care Of
% TRACY G POWELL
Phone
7734058834
Address
2150 S CANALPORT STE 2A 11, CHICAGO, IL 60608

Signing Officer

Name
Tracy G Powell
Title
President and Chairman
Phone
7734058834
Signed
2025-11-14
Discuss with paid preparer
No

Organization Details

Formed
2018
Legal Domicile
Il
Voting Board Members
3
Independent Board Members
3
Employees
1

Preparer

Firm
Badu Tax Services LLC
Address
9330 LBJ FREEWAY STE 900, DALLAS, TX 75243
Preparer
Louisa Asante
Phone
7738195675
Supplemental Narrative

Additional Explanations

Explanation of other changes in net assets or fund balances Part XI line 9

“BOOK/TAX ADJUSTMENTS”

Raw XML Appendix355 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0OFFICERS OF THE COMPANY ARE MARRIED TO EACH OTHER
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1OFFICERS OF THE COMPANY REVIEW THE TAX RETURN BEFORE THE RETURN IS SUBMITTED
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DOCUMENTS ARE AVAILABLE FOR REVIEW UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3BOOK/TAX ADJUSTMENTS
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Officer directors etc family relationship Part VI line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Explanation of other changes in net assets or fund balances Part XI line 9
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IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt0MOMENTUM COFFEE LLC
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0845
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0267724
IRS990/TotalFunctionalExpensesGrp/TotalAmt0268569
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0475840
IRS990/TotalLiabilitiesEOYAmt0668099
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IRS990/TotalLiabilitiesGrp/EOYAmt0668099
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-566558
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-418407
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0267724
IRS990/TotalProgramServiceRevenueAmt07389
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt08152
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0293429
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0-90718
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0249692
IRS990/TotReportableCompRltdOrgAmt00
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IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt0132175
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt0132175
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0WWW.IGNITETECHNOLOGY.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0false
ReturnHeader/BusinessOfficerGrp/PersonNm0TRACY G POWELL
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT AND CHAIRMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum07734058834
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-11-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0IGNITE TECHNOLOGY AND INNOVATION INC
ReturnHeader/Filer/BusinessNameControlTxt0IGNI
ReturnHeader/Filer/EIN0822863800
ReturnHeader/Filer/InCareOfNm0% TRACY G POWELL
ReturnHeader/Filer/PhoneNum07734058834
ReturnHeader/Filer/USAddress/AddressLine1Txt02150 S CANALPORT STE 2A 11
ReturnHeader/Filer/USAddress/CityNm0CHICAGO
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IL
ReturnHeader/Filer/USAddress/ZIPCd060608
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0814013718
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BADU TAX SERVICES LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt09330 LBJ FREEWAY STE 900
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0DALLAS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd075243
ReturnHeader/PreparerPersonGrp/PhoneNum07738195675
ReturnHeader/PreparerPersonGrp/PreparationDt02025-11-17
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0LOUISA ASANTE
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02025-11-17T09:47:45-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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