Civic Intelligence

757 Accelerate Inc.

990 • Fiscal year 2018 • EIN 82-3232312

Jan 01, 2018 to Dec 31, 2018 • Filed on Nov 15, 2019

Organization Profile757accelerate.org
501 Bousch StreetNorfolk, VA 23510

(757) 376-9604

Siviq Scores

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

Liabilities / Assets

57th percentile

0.06x

Higher debt load relative to assets than 57% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Liabilities / Revenue

54th percentile

0.04x

Higher debt load relative to revenue than 54% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Net Margin

95th percentile

64%

Higher net margin than 95% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Top Officer Pay

78th percentile

$72,100

Higher top officer pay than 78% of similar nonprofits.

Top officer pay equals 11.0% of source-year revenue.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Asset Growth

Score unavailable

No value available

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

Source year 2018

Revenue Growth

Score unavailable

No value available

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

Source year 2018

Balance Sheet
Liabilities / Assets57th percentile

Assets

$447,629

No earlier filing loaded for comparison.

Net Assets

$420,469

No earlier filing loaded for comparison.

Liabilities

$27,160

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue54th percentileNet Margin95th percentile

Revenue

$657,157

No earlier filing loaded for comparison.

Expenses

$236,688

No earlier filing loaded for comparison.

Net Income

$420,469

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$1.0M$500K$0Assets 2018: $447,629Liabilities 2018: $27,160Net Assets 2018: $420,4692018Assets 2019: $316,179Liabilities 2019: $17,057Net Assets 2019: $299,1222019Assets 2020: $411,992Liabilities 2020: $31,417Net Assets 2020: $380,5752020Assets 2021: $615,934Liabilities 2021: $102,800Net Assets 2021: $513,1342021Assets 2022: $821,015Liabilities 2022: $78,396Net Assets 2022: $742,6192022Assets 2023: $976,372Liabilities 2023: $46,704Net Assets 2023: $929,6682023Assets 2024: $507,572Liabilities 2024: $2,284Net Assets 2024: $505,2882024

Highlighted filing

2018

Assets$447,629
Liabilities$27,160
Net Assets$420,469
Open 2018 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$2.0M$1.0M$0-$1.0MRevenue 2018: $657,157Expenses 2018: $236,688Net Income 2018: $420,4692018Revenue 2019: $446,536Expenses 2019: $384,552Net Income 2019: $61,9842019Revenue 2020: $461,076Expenses 2020: $378,597Net Income 2020: $82,4792020Revenue 2021: $961,820Expenses 2021: $847,498Net Income 2021: $114,3222021Revenue 2022: $1,564,123Expenses 2022: $1,334,638Net Income 2022: $229,4852022Revenue 2023: $1,566,357Expenses 2023: $1,379,308Net Income 2023: $187,0492023Revenue 2024: $1,238,698Expenses 2024: $1,663,078Net Income 2024: -$424,3802024

Highlighted filing

2018

Revenue$657,157
Expenses$236,688
Net Income$420,469
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Nov 15, 2019
Return Version
2018v3.1
Gross Receipts
$657,157
Mission and Program Overview

Mission

757 accelerate is a non-profit startup accelerator and incubator program. Our mission is to provide startups with the customized resources and capital they need to grow. We boost promising startups towards customer traction and revenue using their own network of mentors, investors, support service, working space, and a lean startup education. Our values are entrepreneurs-first, give before you get, and a long-term commitment to helping startups do more, faster.

757 Accelerate is a non-profit startup accelerator program. Our mission is to provide startups with the customized resources and capital they need to grow. We boost promising startups towards customer traction and revenue using our network of mentors, investors, support services, working space, and a lean startup education. Our values are entrepreneurs-first, give before you get, and a long-term commitment to helping startups do more faster.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable-$268,944-
Savings and Temporary Cash Investments-$100,552-
Cash and Non-Interest-Bearing Accounts-$76,633-
Prepaid Expenses and Deferred Charges-$1,500-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$0$447,629▲ $447,629
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses-$27,160-
Total Liabilities$0$27,160▲ $27,160
Net Assets / Fund Balance
Unrestricted Net Assets-$358,661-
Temporarily Rstr Net Assets-$61,808-
Total Net Assets Fund Balance$0$420,469▲ $420,469
Total Liabilities and Net Assets / Fund Balance$0$447,629▲ $447,629
Compensation and Service Providers
Top Officer Pay78th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Evans McmillionSec & EXEC DirectorFT$72,100$72,100

Board Members and Trustees

NameTitle
Anne ConnorChair
Monique AdamsVice Chair
Andria McclellanDirector
Angel RichDirector
Bob ArmstrongDirector
Bob SharakDirector
Chris SheltonDirector
Eric BrownDirector
Florence KingstonDirector
Graham HenshawDirector
Hud CroasdaleDirector
Jeff JohnsonDirector
Karen EagleDirector
Kevin CurryDirector
Lance ZaalDirector
Lisa DenoiaDirector
Max GreenhoodDirector
Michael YaskowskiDirector
Nancy GrdenDirector
Ned LilyDirector
Robert MooreDirector
Steve HarrisonDirector
Von GilbreathDirector
Zack MillerDirector
Paul HirschbielTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$657,141
Program Service Revenue
$0
Investment Income
$16
Other Revenue
$0
Change in Net Assets
$420,469
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$100,000
Salaries, Compensation, and Employee Benefits$95,765
Other Expenses$40,923
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$100,000--$100,000
Current Officers, Directors, Trustees, and Key Employees$72,100--$72,100
Other Salaries and Wages$23,665--$23,665
Fees for Services Legal$5,809--$5,809
Other Expenses$5,001--$5,001
Insurance$2,261--$2,261
Advertising$1,661--$1,661
Office Expenses-$665-$665
Travel-$626-$626
Occupancy$161--$161
Total Functional Expenses$235,397$1,291$0$236,688
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Ario LLCNorfolk, VA-Organization start up funds$20,000
Dippy LLCRichmond, VA-Organization start up funds$20,000
SVT Robotics LLCWilliamsburg, VA-Organization start up funds$20,000
TeamingPro IncChesapeake, VA-Organization start up funds$20,000
TroopsterNorfolk, VA-Organization start up funds$20,000
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Talkeetna LLCBOD owned busineIndependent contractorNo$72,100

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
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

Form 990, Part VI, Line 11B: Form 990 Review Process

“Upon receipt of the form 990, the executive committee reviews and subsequently approves the 990.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“Each director, principal officer and member of a committee with Board of Directors-delegated powers shall sign a statement which affirms such person has received a copy of the conflict of interest policy, has read and understands it, has agreed to comply with the policy and understands the Organization is charitable and in order to amintain its federal tax exemption it must engage primarily in activities which accomplish one or more of its tax-exempt purposes.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Governing documents, polices and financial statements are available upon request.”

Filing and Contact Details

Filer

Filer Name
757 Accelerate Inc
EIN
82-3232312
Phone
7573769604
Address
501 Bousch Street, Norfolk, VA 23510

Signing Officer

Name
Evans Mcmillion
Title
Executive Director
Signed
2019-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Evans Mcmillion
Formed
2017
Legal Domicile
Va
Voting Board Members
26
Independent Board Members
25
Employees
0
Volunteers
100

Preparer

Firm
Dodson Shelton & Nelson Pa
Address
603 DOLLEY MADISON RD SUITE 104, GREENSBORO, NC 27410
Preparer
Mark K Nelson CPA
Phone
3362996061
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IRS990/MissionDesc0757 Accelerate is a non-profit startup accelerator program. Our mission is to provide startups with the customized resources and capital they need to grow. We boost promising startups towards customer traction and revenue using our network of mentors, investors, support services, working space, and a lean startup education. Our values are entrepreneurs-first, give before you get, and a long-term commitment to helping startups do more faster.
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$447,629
Liabilities
$27,160
Net assets
$420,469
Revenue
$657,157
Expenses
$236,688
Net income
$420,469
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.51$0.00$0.51$1.24$1.66$0.42
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.98$0.05$0.93$1.57$1.38$0.19
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.82$0.08$0.74$1.56$1.33$0.23
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.62$0.10$0.51$0.96$0.85$0.11
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.41$0.03$0.38$0.46$0.38$0.08
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.32$0.02$0.30$0.45$0.38$0.06
2018Detailed filing. Detailed filing data is available for this year.$0.45$0.03$0.42$0.66$0.24$0.42