Civic Intelligence

Launch Inc

990 • Fiscal year 2023 • EIN 83-2564017

Jul 01, 2022 to Jun 30, 2023 • Filed on Mar 28, 2024

Organization ProfileN/A
136 E Rosemary Street Suite 100Chapel Hill, NC 27516

(919) 244-2474

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Up

$287,234

Up $89,008 (+45%) from 2022

Net Assets

Down

$161,622

Down $36,604 (-18%) from 2022

Liabilities

Up

$125,612

Up $125,612 from 2022

Revenue And Expenses

Revenue

Up

$283,736

Up $8,157 (+3.0%) from 2022

Expenses

Up

$320,340

Up $37,639 (+13%) from 2022

Net Income

Down

-$36,604

Down $29,482 (-414%) from 2022

Historical Trend

Balance Sheet Trend

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

$300K$200K$100K$0Assets 2019: $257,038Liabilities 2019: $16,232Net Assets 2019: $240,8062019Assets 2020: $207,909Liabilities 2020: $1,634Net Assets 2020: $206,2752020Assets 2021: $206,348Liabilities 2021: $1,000Net Assets 2021: $205,3482021Assets 2022: $198,226Liabilities 2022: $0Net Assets 2022: $198,2262022Assets 2023: $287,234Liabilities 2023: $125,612Net Assets 2023: $161,6222023Assets 2024: $231,506Liabilities 2024: $7,410Net Assets 2024: $224,0962024Assets 2025: $298,452Liabilities 2025: $138,746Net Assets 2025: $159,7062025

Highlighted filing

2023

Assets$287,234
Liabilities$125,612
Net Assets$161,622
Open 2023 Filing

Operations Trend

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

$400K$200K$0-$200KRevenue 2019: $358,458Expenses 2019: $117,652Net Income 2019: $240,8062019Revenue 2020: $218,223Expenses 2020: $252,754Net Income 2020: -$34,5312020Revenue 2021: $228,695Expenses 2021: $229,622Net Income 2021: -$9272021Revenue 2022: $275,579Expenses 2022: $282,701Net Income 2022: -$7,1222022Revenue 2023: $283,736Expenses 2023: $320,340Net Income 2023: -$36,6042023Revenue 2024: $342,605Expenses 2024: $280,131Net Income 2024: $62,4742024Revenue 2025: $278,208Expenses 2025: $342,598Net Income 2025: -$64,3902025

Highlighted filing

2023

Revenue$283,736
Expenses$320,340
Net Income-$36,604
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Mar 28, 2024
Return Version
2022v5.0
Gross Receipts
$404,080
Mission and Program Overview

Mission

Launch Inc was founded to provide co-working space and resources for businesses in Orange County. With the support of our partners, Launch seeks to maximize the potential of start-ups and create jobs in Orange County through the Launch program.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$63,257$271,299▲ $208,042
Rtn Earn Endowment Incm Other Fnds$198,226$161,622▼ $36,604
Land, Buildings, and Equipment, Net$134,444$15,398▼ $119,046
Prepaid Expenses and Deferred Charges-$537-
Accounts Receivable$525$0▼ $525
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$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-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$198,226$287,234▲ $89,008
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses-$125,612-
Total Liabilities$0$125,612▲ $125,612
Net Assets / Fund Balance
Total Net Assets Fund Balance$198,226$161,622▼ $36,604
Total Liabilities and Net Assets / Fund Balance$198,226$287,234▲ $89,008

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$9,461$30,708$40,169
Equipment$5,937$5,695$11,632
Compensation and Service Providers

Board Members and Trustees

NameTitle
Dwight BassettChairman
Steve BrantleySecretary
Sheryl WaddellTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$366,465
Program Service Revenue
$37,615
Investment Income
$-120,344
Other Revenue
$0
Change in Net Assets
$-36,604
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$320,340
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$80,164--$80,164
Office Expenses-$27,395-$27,395
Fees for Services Accounting-$10,000-$10,000
Depreciation Depletion$5,767--$5,767
Insurance-$3,563-$3,563
Information Technology$1,248$1,738-$2,986
Other Expenses$4,063$1,617-$1,617
Total Functional Expenses$276,027$44,313$0$320,340
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

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 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

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

“The return will be reviewed by the Treasurer and the Program Director before signing.”

Form 990, Part VI, Section C, Line 19

“No documents available to the public.”

Filing and Contact Details

Filer

Filer Name
Launch
EIN
83-2564017
Phone
9192442474
Address
136 E Rosemary Street Suite 100, Chapel Hill, NC 27516

Signing Officer

Name
Sheryl Waddell
Title
Treasurer
Signed
2024-03-28
Discuss with paid preparer
Yes

Organization Details

Formed
2018
Legal Domicile
Nc
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
5

Preparer

Firm
Holliday PLLC
Address
102 MARKET ST STE 100, CHAPEL HILL, NC 27516
Preparer
Jeffrey Edgington CPA
Phone
9199290595
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IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0136 E Rosemary Street Suite 100
IRS990/USAddress/CityNm0Chapel Hill
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd027516
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/FederatedAssuranceLevelCd0FAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Sheryl Waddell
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Treasurer
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-03-28
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Launch
ReturnHeader/Filer/BusinessNameControlTxt0LAUN
ReturnHeader/Filer/EIN0832564017
ReturnHeader/Filer/PhoneNum09192442474
ReturnHeader/Filer/USAddress/AddressLine1Txt0136 E Rosemary Street Suite 100
ReturnHeader/Filer/USAddress/CityNm0Chapel Hill
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd027516
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0475468552
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Holliday PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0102 MARKET ST STE 100
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CHAPEL HILL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd027516
ReturnHeader/PreparerPersonGrp/PhoneNum09199290595
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Jeffrey Edgington CPA
ReturnHeader/ReturnTs02024-03-28T06:50:13-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0Sheryl
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0Waddell
ReturnHeader/TaxPeriodBeginDt02022-07-01
ReturnHeader/TaxPeriodEndDt02023-06-30
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$287,234
Liabilities
$125,612
Net assets
$161,622
Revenue
$283,736
Expenses
$320,340
Net income
-$36,604
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$2.98$1.39$1.60$2.78$3.43$0.64
2024Detailed filing. Detailed filing data is available for this year.$2.32$0.07$2.24$3.43$2.80$0.62
2023Detailed filing. Detailed filing data is available for this year.$2.87$1.26$1.62$2.84$3.20$0.37
2022Detailed filing. Detailed filing data is available for this year.$1.98$0.00$1.98$2.76$2.83$0.07
2021Detailed filing. Detailed filing data is available for this year.$2.06$0.01$2.05$2.29$2.30$0.01
2020Summary only. Only limited summary data is available for this year.$2.08$0.02$2.06$2.18$2.53$0.35
2019Summary only. Only limited summary data is available for this year.$2.57$0.16$2.41$3.58$1.18$2.41