Civic Intelligence

Startedup Foundation Inc.

990 • Fiscal year 2023 • EIN 82-5058263

Jan 01, 2023 to Dec 31, 2023 • Filed on May 02, 2024

1098 Pebble Brook DrNoblesville, IN 46062

(317) 777-9240

Siviq Scores

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

Liabilities / Assets

40th percentile

0.03x

Higher debt load relative to assets than 40% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

24th percentile

0.01x

Higher debt load relative to revenue than 24% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

61st percentile

10%

Higher net margin than 61% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

75th percentile

$120,000

Higher top officer pay than 75% of similar nonprofits.

Top officer pay equals 6.0% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

94th percentile

92%

Faster asset growth than 94% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

89th percentile

78%

Faster revenue growth than 89% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Assets

Up

$423,877

Up $202,676 (+92%) from 2022

Net Assets

Up

$411,623

Up $198,489 (+93%) from 2022

Liabilities

Up

$12,254

Up $4,187 (+52%) from 2022

Revenue

Up

$1,984,179

Up $872,021 (+78%) from 2022

Expenses

Up

$1,785,690

Up $669,736 (+60%) from 2022

Net Income

Up

$198,489

Up $202,285 (+5329%) from 2022

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

2023

Assets$423,877
Liabilities$12,254
Net Assets$411,623

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

2023

Revenue$1,984,179
Expenses$1,785,690
Net Income$198,489
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
May 2, 2024
Return Version
2023v5.0
Gross Receipts
$1,984,179
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$199,723$266,981▲ $67,258
Accounts Receivable$169$140,525▲ $140,356
Pledges and Grants Receivable$3,691$0▼ $3,691
Land, Buildings, and Equipment, Net$3,118$1,871▼ $1,247
Total Assets$221,201$423,877▲ $202,676
Other Assets Total$14,500$14,500→ $0
Liabilities
Accounts Payable and Accrued Expenses$8,067$12,254▲ $4,187
Total Liabilities$8,067$12,254▲ $4,187
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$213,134$411,623▲ $198,489
Total Net Assets Fund Balance$213,134$411,623▲ $198,489
Total Liabilities and Net Assets / Fund Balance$221,201$423,877▲ $202,676

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,871$2,027$3,898
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Donald WettrickCEOFT$120,000-$120,000
Hunter StonePresidentFT$107,341$11,880$119,221

Board Members and Trustees

NameTitle
Brian SchuttBoard Member
David RobertsBoard Member
Nathan HarrisBoard Member
Sunny Lu WilliamsBoard Member
Elaine BedelBoard Member Through 5/1/23
Revenue and Support

Revenue Composition

Contributions and Grants
$259,439
Program Service Revenue
$1,724,740
Investment Income
$0
Other Revenue
$0
All Other Contributions
$259,439
Change in Net Assets
$198,489
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,152,017
Salaries, Compensation, and Employee Benefits$631,173
Total Fundraising Expense$233,018
Grants and Similar Amounts Paid$2,500
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$386,289$17,850$11,025$415,164
Other Salaries and Wages$201,144$5,136$133,286$339,566
Conferences and Meetings$300,841$3,286$9,257$313,384
Current Officers, Directors, Trustees, and Key Employees$77,727$101,494$60,000$239,221
Information Technology$90,854$8,395-$99,249
Travel$72,668$3,308$4,392$80,368
Advertising$49,769$19,020-$68,789
Occupancy$13,519$38,328-$51,847
Payroll Taxes$21,389$7,267$14,825$43,481
Fees for Services Accounting-$30,874-$30,874
Office Expenses$1,689$9,330$233$11,252
Other Employee Benefits-$8,905-$8,905
Insurance-$6,971-$6,971
Grants to Domestic Orgs$2,500--$2,500
Fees for Services Legal-$1,702-$1,702
Depreciation Depletion-$1,247-$1,247
Other Expenses$5,301$524-$524
Total Functional Expenses$1,283,254$269,418$233,018$1,785,690
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
Yes
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
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
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 2

Don wettrick and hunter stone are non-voting board members and officers of the organization. They also co-own startedup innovations llc.

Form 990, Part VI, Section A, Line 3

Startedup innovations, llc was contracted as a management agency to perform management services.

Form 990, Part VI, Section B, Line 11B

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

Form 990, Part VI, Section B, Line 12C

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

Form 990, Part VI, Section B, Line 15

There is a policy for determining 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. Contemporaneous 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 compensated, approved with the year's operating budget, and then the data is stored.

Form 990, Part VI, Section C, Line 19

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

Filing and Contact Details

Filer

Filer Name
Startedup Foundation Inc
EIN
82-5058263
Phone
3177779240
Address
1098 PEBBLE BROOK DR, NOBLESVILLE, IN 46062

Signing Officer

Name
Hunter Stone
Title
President
Phone
3175711777
Signed
2024-05-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Hunter Stone
Formed
2018
Legal Domicile
In
Voting Board Members
4
Independent Board Members
4
Employees
8
Volunteers
4

Preparer

Firm
Blue & Co LLC
Address
12800 N MERIDIAN ST STE 400, CARMEL, IN 46032
Preparer
Cory Schunemann CPA
Phone
3178488920
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Peo service fee: program service expenses 0. Management and general expenses 9,524. Fundraising expenses 0. Total expenses 9,524. Contracted services: program service expenses 363,789. Management and general expenses 8,326. Fundraising expenses 11,025. Total expenses 383,140. Teacher stipends: program service expenses 22,500. Management and general expenses 0. Fundraising expenses 0. Total expenses 22,500.

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IRS990/ProgSrvcAccomActy2Grp/Desc0DEVELOP: INNOVATE WITHIN - STATEWIDE PITCH COMPETITIONSTARTEDUP FOUNDATION, IN PARTNERSHIP WITH THE INDIANA ECONOMIC DEVELOPMENT COPORATION, MANAGES 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 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/ProgSrvcAccomActy3Grp/Desc0CERTIFICATION - THE INDIANA INNOVATION EDUCATOR FELLOWSHIP IS AN AMBASSADORSHIP AND INNOVATION TRAINING PROGRAM DESIGNED TO ELEVATE THE MISSION OF INDIANA TEACHERS. EDUCATORS ARE BROUGHT TO THE TABLE AS REPRESENTATIVES OF THEIR COMMUNITIES AT BUSINESS, CIVIC, AND INNOVATION EVENTS WHERE THEY ARE ABLE TO OPERATE AS CONNECTORS AND BE THE FUNNEL OF FUTURE-READY INFORMATION TO THEIR STUDENTS. BY PAIRING AMBASSADORSHIP OPPORTUNITIES WITH TRAINING AND CONTENT IN INNOVATION, WE PREPARE OUR INDIANA EDUCATORS AS THE BEST-EQUIPPED AND MOST FORWARD-THINKING IN THE COUNTRY.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DON WETTRICK AND HUNTER STONE ARE NON-VOTING BOARD MEMBERS AND OFFICERS OF THE ORGANIZATION. THEY ALSO CO-OWN STARTEDUP INNOVATIONS LLC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1STARTEDUP INNOVATIONS, LLC WAS CONTRACTED AS A MANAGEMENT AGENCY TO PERFORM MANAGEMENT SERVICES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD OF DIRECTORS WILL REVIEW AND APPROVE THE 990 BEFORE IT'S FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3IF THE BOARD OF DIRECTORS HAS REASONABLE CAUSE TO BELIEVE AN INTERESTED PERSON HAS FAILED TO DISCLOSE ACTUAL OR POSSIBLE CONFLICTS OF INTEREST, IT SHALL INFORM THE INTERESTED OF THE BASIS FOR SUCH BELIEF AND AFFORD THE INTERESTED PERSON AN OPPORUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. IF, AFTER HEARING THE INTERESTED PERSON'S RESPONSE AND AFTER MAKING FURTHER INVESTIGATION AS WARRANTED BY THE CIRCUMSTANCES, THE BOARD OF DIRECTORS DETERMINES THE INTERESTED PERSON HAS FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, THE BOARD OF DIRECTORS SHALL TAKE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THERE IS A POLICY FOR DETERMINING 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. CONTEMPORANEOUS 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 COMPENSATED, APPROVED WITH THE YEAR'S OPERATING BUDGET, AND THEN THE DATA IS STORED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6PEO SERVICE FEE: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 9,524. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 9,524. CONTRACTED SERVICES: PROGRAM SERVICE EXPENSES 363,789. MANAGEMENT AND GENERAL EXPENSES 8,326. FUNDRAISING EXPENSES 11,025. TOTAL EXPENSES 383,140. TEACHER STIPENDS: PROGRAM SERVICE EXPENSES 22,500. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 22,500.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART IX, LINE 11G
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