Civic Intelligence

Startedup Foundation Inc.

990 • Fiscal year 2020 • EIN 82-5058263

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 15, 2021

1098 Pebble Brook DrNoblesville, IN 46062

(415) 889-9973

Siviq Scores

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

Liabilities / Assets

46th percentile

0.03x

Higher debt load relative to assets than 46% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Liabilities / Revenue

36th percentile

0.01x

Higher debt load relative to revenue than 36% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Net Margin

76th percentile

25%

Higher net margin than 76% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Top Officer Pay

86th percentile

$93,950

Higher top officer pay than 86% of similar nonprofits.

Top officer pay equals 16.6% of source-year revenue.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Asset Growth

96th percentile

236%

Faster asset growth than 96% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Revenue Growth

92nd percentile

98%

Faster revenue growth than 92% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Assets

Up

$209,700

Up $147,301 (+236%) from 2019

Net Assets

Up

$203,536

Up $142,570 (+234%) from 2019

Liabilities

Up

$6,164

Up $4,731 (+330%) from 2019

Revenue

Up

$567,479

Up $281,385 (+98%) from 2019

Expenses

Up

$424,909

Up $179,504 (+73%) from 2019

Net Income

Up

$142,570

Up $101,881 (+250%) from 2019

Historical Trend

Balance Sheet Trend

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

$1.5M$1.0M$500K$0Assets 2018: $20,277Net Assets 2018: $20,2772018Assets 2019: $62,399Liabilities 2019: $1,433Net Assets 2019: $60,9662019Assets 2020: $209,700Liabilities 2020: $6,164Net Assets 2020: $203,5362020Assets 2021: $222,760Liabilities 2021: $5,830Net Assets 2021: $216,9302021Assets 2022: $221,201Liabilities 2022: $8,067Net Assets 2022: $213,1342022Assets 2023: $423,877Liabilities 2023: $12,254Net Assets 2023: $411,6232023Assets 2024: $1,190,726Liabilities 2024: $250,666Net Assets 2024: $940,0602024

Highlighted filing

2020

Assets$209,700
Liabilities$6,164
Net Assets$203,536

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2018: $115,225Expenses 2018: $94,948Net Income 2018: $20,2772018Revenue 2019: $286,094Expenses 2019: $245,405Net Income 2019: $40,6892019Revenue 2020: $567,479Expenses 2020: $424,909Net Income 2020: $142,5702020Revenue 2021: $742,431Expenses 2021: $729,037Net Income 2021: $13,3942021Revenue 2022: $1,112,158Expenses 2022: $1,115,954Net Income 2022: -$3,7962022Revenue 2023: $1,984,179Expenses 2023: $1,785,690Net Income 2023: $198,4892023Revenue 2024: $2,421,425Expenses 2024: $1,892,988Net Income 2024: $528,4372024

Highlighted filing

2020

Revenue$567,479
Expenses$424,909
Net Income$142,570
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 15, 2021
Return Version
2020v4.0
Gross Receipts
$567,479
Mission and Program Overview

Mission

Educational programing for high school students for business entrepreneurship.

Empower students by immersing them into the entrepreneurial way of being, inspiring them to start something new, mentoring them through new ventures.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$62,399$209,450▲ $147,051
Total Assets$62,399$209,700▲ $147,301
Other Assets Total-$250-
Liabilities
Other Liabilities$1,433$6,164▲ $4,731
Total Liabilities$1,433$6,164▲ $4,731
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$60,966$203,536▲ $142,570
Total Net Assets Fund Balance$60,966$203,536▲ $142,570
Total Liabilities and Net Assets / Fund Balance$62,399$209,700▲ $147,301
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Donald WettrickPresidentFT$93,950$93,950
Hunter StoneSecretar /trFT$58,406$58,406
Jeremy MillerBoard MemberFT$6,667$6,667

Board Members and Trustees

NameTitle
Elaine BedelBoard Member
Jevon Thomas MccormickBoard Member
John McdonaldBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$536,079
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$31,400
All Other Contributions
$536,079
Change in Net Assets
$142,570
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$222,549
Other Expenses$163,108
Total Fundraising Expense$161,401
Professional Fundraising Fees$39,252
Grants and Similar Amounts Paid$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$47,707$47,707$63,609$159,023
Other Salaries and Wages$14,325$14,325$19,100$47,750
Fees for Services Professional Fundraising--$39,252$39,252
Advertising--$21,267$21,267
Payroll Taxes$4,732$4,733$6,311$15,776
Occupancy$11,037--$11,037
Other Expenses$83,060-$10,000$10,000
Information Technology$10,000--$10,000
Office Expenses$8,569$373$13$8,955
Fees for Services Accounting-$6,231-$6,231
Fees for Services Legal$3,979$2,239-$6,218
Insurance$256$2,273$339$2,868
Travel$319$988$1,510$2,817
Fees for Services Management-$655-$655
Total Functional Expenses$183,984$79,524$161,401$424,909
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$39,252
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Chase Cc 7733$6,164
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 35% controlled entity
Yes
Business relationship with family members
No
Business relationship with organization members
Yes
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
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 2

Startedup innovation, llc startedup foundation, inc. Owner president bussiness startedup innovation, llc startedup foundation, inc. Owner treasurer bussiness startedup innovation, llc startedup foundation, inc. Contractor board member bussiness

Form 990, Page 6, Part VI, Line 3

Startedup innovations, llc was contracted as a management agency to perform management services. Some of those services included management of payroll services.

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

The board of directors will review and approve the 990 before it is filed.

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

If the board of directors or committee has reasonable cause to believe a interested person has failed to disclose actual or possible conflicts of interest, it shall inform the interested person of the basis for such belief and afford the interested person an opportunity to explain the alleged failure to disclose. If, after hearing the interested persons response and after making further investigation as warranted by the circumstances, the board of directors or committee determines the interested person has failed to disclose an actual or possible conflict of interest, the board of directors or committee shall take appropriate disciplinary and corrective action.

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

There is a policy for derterming compensation for the executive director, officers, and key employees. The process includes: 1. Review and approval by the voting board of directors; 2. Use of data as to comparable compensation; and 3. Contemoraneous documentation and recordkeeping. During approval of the annual operating budget, all staff salaries are compared with external data, approved by the board members not being compensaed, approved with the year's operating budget, and then the data is stored.

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

There is a policy for derterming compensation for the executive director, officers, and key employees. The process includes: 1. Review and approval by the voting board of directors; 2. Use of data as to comparable compensation; and 3. Contemoraneous documentation and recordkeeping. During approval of the annual operating budget, all staff salaries are compared with external data, approved by the board members not being compensaed, approved with the year's operating budget, and then the data is stored.

Form 990, Page 6, Part VI, Line 19

The governing documents, conflict of interest policy, and financial statements were available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Startedup Foundation Inc
EIN
82-5058263
Phone
4158899973
Address
1098 PEBBLE BROOK DR, NOBLESVILLE, IN 46062

Signing Officer

Name
Donald Wettrick
Title
President
Phone
3177779240
Signed
2021-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Donald Wettrick
Formed
2018
Legal Domicile
In
Voting Board Members
3
Independent Board Members
3
Employees
4
Volunteers
9

Preparer

Firm
Bogdanoff Dages and Co Pc
Address
9333 N MERIDIAN ST STE 108, INDIANAPOLIS, IN 46260-1814
Preparer
Paul L Bogdanoff CPA
Phone
3175711777
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4A

Spark: student innovation nights in order to inspire interest in the worlds of commerce and entrepreneurship, we host a series of monthly student innovation nights. These are grassroots-style events meant to create bonds amongst local communities and inspire collaboration. These events are held in localized areas by startedup foundation chapters. During these events, a chapter invites a local business or non-profit to pitch a challenge they face to a group of student attendees. After a short q&a, students break into groups to collaborate, rapid prototype, and pitch solutions back to the guest organization. With a skills-based approach to each event and a focus on the startedup "roth-ira" problem-solving framework, students exit each event with a new focus on identifying opportunities and finding ways to create value.

Form 990, Page 2, Part III, Line 4B

Develop: innovate within - statewide pitch competition startedup foundation in partnership with the indiana economic development corporation to manage the innovate within pitch competition. This competition inspires entrepreneurship for students across every region of indiana, helping them to bring an existing or new idea to fruition. Startedup conducts a 6-week intensive program to equip each student group with the tools they need to reach success and learn from their peers. Part of this program is an entrepreneurial immersion trip where students travel to the entrepreneurial hubs of new cities in order to learn from and collaborate with world-class entrepreneurs and organizations. In the past, students have had the opportunity to learn from google, dell, capital factory, adhawk, barnes & noble, nyse, jon fortt (cnbc), seth godin, scott harrison, and many others across new york city, austin, and san antonio.

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IRS990/ProgSrvcAccomActy2Grp/Desc0DEVELOP: INNOVATE WITHIN - STATEWIDE PITCH COMPETITION STARTEDUP FOUNDATION IN PARTNERSHIP WITH THE INDIANA ECONOMIC DEVELOPMENT CORPORATION TO MANAGE THE INNOVATE WITHIN PITCH COMPETITION. THIS COMPETITION INSPIRES ENTREPRENEURSHIP FOR STUDENTS ACROSS EVERY REGION OF INDIANA, HELPING THEM TO BRING AN EXISTING OR NEW IDEA TO FRUITION. STARTEDUP CONDUCTS A 6-WEEK INTENSIVE PROGRAM TO EQUIP EACH STUDENT GROUP WITH THE TOOLS THEY NEED TO REACH SUCCESS AND LEARN FROM THEIR PEERS. PART OF THIS PROGRAM IS AN ENTREPRENEURIAL IMMERSION TRIP WHERE STUDENTS TRAVEL TO THE ENTREPRENEURIAL HUBS OF NEW CITIES IN ORDER TO LEARN FROM AND COLLABORATE WITH WORLD-CLASS ENTREPRENEURS AND ORGANIZATIONS. IN THE PAST, STUDENTS HAVE HAD THE OPPORTUNITY TO LEARN FROM GOOGLE, DELL, CAPITAL FACTORY, ADHAWK, BARNES & NOBLE, NYSE, JON FORTT (CNBC), SETH GODIN, SCOTT HARRISON, AND MANY OTHERS ACROSS NEW YORK CITY, AUSTIN, AND SAN ANTONIO.
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IRS990ScheduleG/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE G, PAGE 1, PART I, LINE 2B, COLUMN (V)
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0CONSULTANT
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0SHARED SERVICES
IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt0DON WETTRICK, HUNTER STONE, AND JEREMY MILLER, ALL NON-VOTING BOARD MEMBERS DURING 2020, WERE EXECUTIVES OF STARTEDUP INNOVATION LLC. DON AND HUNTER ARE THE OWNERS OF THAT ORGANIZATION. STARTEDUP INNOVATIONS LLC AND STARTEDUP FOUNDATION, INC. HAVE CONTRACTUAL AGREEMENTS COVERING PROGRAM LICENSING AND SHARED SERVICES.
IRS990ScheduleL/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE L, PART V
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0SPARK: STUDENT INNOVATION NIGHTS IN ORDER TO INSPIRE INTEREST IN THE WORLDS OF COMMERCE AND ENTREPRENEURSHIP, WE HOST A SERIES OF MONTHLY STUDENT INNOVATION NIGHTS. THESE ARE GRASSROOTS-STYLE EVENTS MEANT TO CREATE BONDS AMONGST LOCAL COMMUNITIES AND INSPIRE COLLABORATION. THESE EVENTS ARE HELD IN LOCALIZED AREAS BY STARTEDUP FOUNDATION CHAPTERS. DURING THESE EVENTS, A CHAPTER INVITES A LOCAL BUSINESS OR NON-PROFIT TO PITCH A CHALLENGE THEY FACE TO A GROUP OF STUDENT ATTENDEES. AFTER A SHORT Q&A, STUDENTS BREAK INTO GROUPS TO COLLABORATE, RAPID PROTOTYPE, AND PITCH SOLUTIONS BACK TO THE GUEST ORGANIZATION. WITH A SKILLS-BASED APPROACH TO EACH EVENT AND A FOCUS ON THE STARTEDUP "ROTH-IRA" PROBLEM-SOLVING FRAMEWORK, STUDENTS EXIT EACH EVENT WITH A NEW FOCUS ON IDENTIFYING OPPORTUNITIES AND FINDING WAYS TO CREATE VALUE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1DEVELOP: INNOVATE WITHIN - STATEWIDE PITCH COMPETITION STARTEDUP FOUNDATION IN PARTNERSHIP WITH THE INDIANA ECONOMIC DEVELOPMENT CORPORATION TO MANAGE THE INNOVATE WITHIN PITCH COMPETITION. THIS COMPETITION INSPIRES ENTREPRENEURSHIP FOR STUDENTS ACROSS EVERY REGION OF INDIANA, HELPING THEM TO BRING AN EXISTING OR NEW IDEA TO FRUITION. STARTEDUP CONDUCTS A 6-WEEK INTENSIVE PROGRAM TO EQUIP EACH STUDENT GROUP WITH THE TOOLS THEY NEED TO REACH SUCCESS AND LEARN FROM THEIR PEERS. PART OF THIS PROGRAM IS AN ENTREPRENEURIAL IMMERSION TRIP WHERE STUDENTS TRAVEL TO THE ENTREPRENEURIAL HUBS OF NEW CITIES IN ORDER TO LEARN FROM AND COLLABORATE WITH WORLD-CLASS ENTREPRENEURS AND ORGANIZATIONS. IN THE PAST, STUDENTS HAVE HAD THE OPPORTUNITY TO LEARN FROM GOOGLE, DELL, CAPITAL FACTORY, ADHAWK, BARNES & NOBLE, NYSE, JON FORTT (CNBC), SETH GODIN, SCOTT HARRISON, AND MANY OTHERS ACROSS NEW YORK CITY, AUSTIN, AND SAN ANTONIO.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2STARTEDUP INNOVATION, LLC STARTEDUP FOUNDATION, INC. OWNER PRESIDENT BUSSINESS STARTEDUP INNOVATION, LLC STARTEDUP FOUNDATION, INC. OWNER TREASURER BUSSINESS STARTEDUP INNOVATION, LLC STARTEDUP FOUNDATION, INC. CONTRACTOR BOARD MEMBER BUSSINESS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3STARTEDUP INNOVATIONS, LLC WAS CONTRACTED AS A MANAGEMENT AGENCY TO PERFORM MANAGEMENT SERVICES. SOME OF THOSE SERVICES INCLUDED MANAGEMENT OF PAYROLL SERVICES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE BOARD OF DIRECTORS WILL REVIEW AND APPROVE THE 990 BEFORE IT IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5IF THE BOARD OF DIRECTORS OR COMMITTEE HAS REASONABLE CAUSE TO BELIEVE A INTERESTED PERSON HAS FAILED TO DISCLOSE ACTUAL OR POSSIBLE CONFLICTS OF INTEREST, IT SHALL INFORM THE INTERESTED PERSON OF THE BASIS FOR SUCH BELIEF AND AFFORD THE INTERESTED PERSON AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. IF, AFTER HEARING THE INTERESTED PERSONS RESPONSE AND AFTER MAKING FURTHER INVESTIGATION AS WARRANTED BY THE CIRCUMSTANCES, THE BOARD OF DIRECTORS OR COMMITTEE DETERMINES THE INTERESTED PERSON HAS FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, THE BOARD OF DIRECTORS OR COMMITTEE SHALL TAKE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THERE IS A POLICY FOR DERTERMING COMPENSATION FOR THE EXECUTIVE DIRECTOR, OFFICERS, AND KEY EMPLOYEES. THE PROCESS INCLUDES: 1. REVIEW AND APPROVAL BY THE VOTING BOARD OF DIRECTORS; 2. USE OF DATA AS TO COMPARABLE COMPENSATION; AND 3. CONTEMORANEOUS DOCUMENTATION AND RECORDKEEPING. DURING APPROVAL OF THE ANNUAL OPERATING BUDGET, ALL STAFF SALARIES ARE COMPARED WITH EXTERNAL DATA, APPROVED BY THE BOARD MEMBERS NOT BEING COMPENSAED, APPROVED WITH THE YEAR'S OPERATING BUDGET, AND THEN THE DATA IS STORED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7THERE IS A POLICY FOR DERTERMING COMPENSATION FOR THE EXECUTIVE DIRECTOR, OFFICERS, AND KEY EMPLOYEES. THE PROCESS INCLUDES: 1. REVIEW AND APPROVAL BY THE VOTING BOARD OF DIRECTORS; 2. USE OF DATA AS TO COMPARABLE COMPENSATION; AND 3. CONTEMORANEOUS DOCUMENTATION AND RECORDKEEPING. DURING APPROVAL OF THE ANNUAL OPERATING BUDGET, ALL STAFF SALARIES ARE COMPARED WITH EXTERNAL DATA, APPROVED BY THE BOARD MEMBERS NOT BEING COMPENSAED, APPROVED WITH THE YEAR'S OPERATING BUDGET, AND THEN THE DATA IS STORED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS WERE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4B
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8FORM 990, PAGE 6, PART VI, LINE 19
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ReturnHeader/BuildTS02022-09-23 18:48:47Z
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