Civic Intelligence

Boost Pad Inc.

990 • Fiscal year 2021 • EIN 84-3158649

Jan 01, 2021 to Dec 31, 2021 • Filed on Jul 18, 2022

933 Louise Ave Suite 101-fCharlotte, NC 28204

(704) 560-3240

Siviq Scores

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

Liabilities / Assets

69th percentile

0.07x

Higher debt load relative to assets than 69% of similar nonprofits.

2021 filings • NTEE S • <$500k nonprofits • Source year 2021

Liabilities / Revenue

65th percentile

0.04x

Higher debt load relative to revenue than 65% of similar nonprofits.

2021 filings • NTEE S • <$500k nonprofits • Source year 2021

Net Margin

86th percentile

50%

Higher net margin than 86% of similar nonprofits.

2021 filings • NTEE S • <$500k nonprofits • Source year 2021

Top Officer Pay

84th percentile

$12,000

Higher top officer pay than 84% of similar nonprofits.

Top officer pay equals 5.8% of source-year revenue.

2021 filings • NTEE S • <$500k nonprofits • Source year 2021

Asset Growth

Score unavailable

No value available

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

Source year 2021

Revenue Growth

Score unavailable

No value available

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

Source year 2021

Assets

$117,946

No earlier filing loaded for comparison.

Net Assets

$110,057

No earlier filing loaded for comparison.

Liabilities

$7,889

No earlier filing loaded for comparison.

Revenue

$206,764

No earlier filing loaded for comparison.

Expenses

$102,862

No earlier filing loaded for comparison.

Net Income

$103,902

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$200K$150K$100K$50K$0Assets 2021: $117,946Liabilities 2021: $7,889Net Assets 2021: $110,0572021Assets 2022: $185,237Liabilities 2022: $0Net Assets 2022: $185,2372022Assets 2023: $122,837Liabilities 2023: $4,704Net Assets 2023: $118,1332023Assets 2024: $93,501Liabilities 2024: $0Net Assets 2024: $93,5012024

Highlighted filing

2021

Assets$117,946
Liabilities$7,889
Net Assets$110,057

Operations Trend

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

$300K$200K$100K$0-$100KRevenue 2021: $206,764Expenses 2021: $102,862Net Income 2021: $103,9022021Revenue 2022: $187,514Expenses 2022: $155,110Net Income 2022: $32,4042022Revenue 2023: $230,222Expenses 2023: $212,724Net Income 2023: $17,4982023Revenue 2024: $171,558Expenses 2024: $196,190Net Income 2024: -$24,6322024

Highlighted filing

2021

Revenue$206,764
Expenses$102,862
Net Income$103,902
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Jul 18, 2022
Return Version
2021v4.0
Gross Receipts
$206,764
Mission and Program Overview

Mission

The boost pad incubator is rooted in our belief to love thy neighbor as thy self. We believe in the mission to bring forth founders and businesses that will increase our communitys economic mobility and equality based on the knowledge that we are all created equal. Our beliefs implore us to empower those who can drive us steadfast into a better future. Were grounded in the knowledge that were all created equal and to achieve such a goal, were required to elevate those who have a story to tell and lack a platform to tell it. Its our responsibility to supply the bootstraps.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$6,765$92,946▲ $86,181
Total Assets$6,765$117,946▲ $111,181
Other Assets Total-$25,000-
Liabilities
Accounts Payable and Accrued Expenses$610$7,889▲ $7,279
Total Liabilities$610$7,889▲ $7,279
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$6,155$110,057▲ $103,902
Total Net Assets Fund Balance$6,155$110,057▲ $103,902
Total Liabilities and Net Assets / Fund Balance$6,765$117,946▲ $111,181

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$25,000--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Steven LewisCo-directorFT$12,000$12,000
Joan RandallCo-directorFT$8,000$8,000
Revenue and Support

Revenue Composition

Contributions and Grants
$206,764
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$206,764
Change in Net Assets
$103,902
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$69,630
Salaries, Compensation, and Employee Benefits$30,240
Total Fundraising Expense$6,382
Grants and Similar Amounts Paid$2,992
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees-$25,918-$25,918
Fees for Services Other$24,304$507-$24,811
Advertising$21,657--$21,657
Office Expenses-$6,425-$6,425
Grants to Domestic Orgs$2,992--$2,992
Payroll Taxes$508$1,814-$2,322
Other Salaries and Wages$2,000--$2,000
Insurance-$1,992-$1,992
Occupancy-$809-$809
Other Expenses$355-$6,382$355
Travel$239--$239
Total Functional Expenses$59,015$37,465$6,382$102,862
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
-InvestorPURCHASE 2.5% INTERENo$25,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Backup withholding compliance
No
Business relationship with 35% controlled entity
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, Page 6, Part VI, Line 2

Cellular farms cellular farms coo board member

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

A draft copy of the 990 is sent to the board for approval prior to efiling. Once appoved by the board, the return is filed and a final copy supplied for the boost pad records.

Form 990, Page 6, Part VI, Line 19

Solicitation license, annual tax return, and ogranizational documents

Filing and Contact Details

Filer

Filer Name
The Boost Pad
EIN
84-3158649
Address
933 LOUISE AVE SUITE 101-F, CHARLOTTE, NC 28204

Signing Officer

Name
Steven Lewis
Title
Co-director
Phone
9809008030
Signed
2022-07-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Steven Lewis
Formed
2019
Legal Domicile
Nc
Voting Board Members
11
Independent Board Members
9
Employees
4

Preparer

Firm
Overman & Parks Cpas Pa
Address
4051 CAPITAL DR, ROCKY MOUNT, NC 27804
Preparer
Rebecca a Parks
Phone
2524433124
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

The boost pad incubator is rooted in our belief to love thy neighbor as thy self. We believe in the mission to bring forth founders and businesses that will increase our communitys economic mobility and equality based on the knowledge that we are all created equal. Our beliefs implore us to empower those who can drive us steadfast into a better future. Were grounded in the knowledge that were all created equal and to achieve such a goal, were required to elevate those who have a story to tell and lack a platform to tell it. Its our responsibility to supply the bootstraps.

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

The boost pad incubator provides access to subject matter experts and mentors to guide you to building a successful business. These experts and mentors have built their own businesses and know how to answer questions and guide you to where you need to be. By advancing through our curriculum that teaches the necessary skills to run your business, entrepreneurs will have access to capital theyll use to retain subject matter experts, helping founders receive those services to take their business to the next level. Inside the incubator, students gain access to a marketplace of services and vendors at an extreme discount. This gives students to chance to take important steps in their business, like getting a website and branding, accounting and tax guidance, and more. This gives you a leg up compared to most business owners who need to seek this out on their own.

Form 990, Part IX, Line 11G

Bank charges & fees 0 20 0 meals & entertainment 0 487 0 contract labor 24,282 0 0 payroll expenses:payroll fees 22 0 0 total 24,304 507 0

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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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IRS990/MissionDesc0THE BOOST PAD INCUBATOR IS ROOTED IN OUR BELIEF TO LOVE THY NEIGHBOR AS THY SELF. WE BELIEVE IN THE MISSION TO BRING FORTH FOUNDERS AND BUSINESSES THAT WILL INCREASE OUR COMMUNITYS ECONOMIC MOBILITY AND EQUALITY BASED ON THE KNOWLEDGE THAT WE ARE ALL CREATED EQUAL. OUR BELIEFS IMPLORE US TO EMPOWER THOSE WHO CAN DRIVE US STEADFAST INTO A BETTER FUTURE. WERE GROUNDED IN THE KNOWLEDGE THAT WERE ALL CREATED EQUAL AND TO ACHIEVE SUCH A GOAL, WERE REQUIRED TO ELEVATE THOSE WHO HAVE A STORY TO TELL AND LACK A PLATFORM TO TELL IT. ITS OUR RESPONSIBILITY TO SUPPLY THE BOOTSTRAPS.
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IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt0THE BOOST PAD MADE A 25000 INVESTMENT IN CELLULAR FARMS TO OWN A 2.5% INTEREST. THE EXCEUTIVE DIRECTOR OF THE BOOST PAD, STEVEN, IS ALSO THE COO OF CELLULAR FARM.
IRS990ScheduleL/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE L, PART V
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOOST PAD INCUBATOR IS ROOTED IN OUR BELIEF TO LOVE THY NEIGHBOR AS THY SELF. WE BELIEVE IN THE MISSION TO BRING FORTH FOUNDERS AND BUSINESSES THAT WILL INCREASE OUR COMMUNITYS ECONOMIC MOBILITY AND EQUALITY BASED ON THE KNOWLEDGE THAT WE ARE ALL CREATED EQUAL. OUR BELIEFS IMPLORE US TO EMPOWER THOSE WHO CAN DRIVE US STEADFAST INTO A BETTER FUTURE. WERE GROUNDED IN THE KNOWLEDGE THAT WERE ALL CREATED EQUAL AND TO ACHIEVE SUCH A GOAL, WERE REQUIRED TO ELEVATE THOSE WHO HAVE A STORY TO TELL AND LACK A PLATFORM TO TELL IT. ITS OUR RESPONSIBILITY TO SUPPLY THE BOOTSTRAPS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOOST PAD INCUBATOR PROVIDES ACCESS TO SUBJECT MATTER EXPERTS AND MENTORS TO GUIDE YOU TO BUILDING A SUCCESSFUL BUSINESS. THESE EXPERTS AND MENTORS HAVE BUILT THEIR OWN BUSINESSES AND KNOW HOW TO ANSWER QUESTIONS AND GUIDE YOU TO WHERE YOU NEED TO BE. BY ADVANCING THROUGH OUR CURRICULUM THAT TEACHES THE NECESSARY SKILLS TO RUN YOUR BUSINESS, ENTREPRENEURS WILL HAVE ACCESS TO CAPITAL THEYLL USE TO RETAIN SUBJECT MATTER EXPERTS, HELPING FOUNDERS RECEIVE THOSE SERVICES TO TAKE THEIR BUSINESS TO THE NEXT LEVEL. INSIDE THE INCUBATOR, STUDENTS GAIN ACCESS TO A MARKETPLACE OF SERVICES AND VENDORS AT AN EXTREME DISCOUNT. THIS GIVES STUDENTS TO CHANCE TO TAKE IMPORTANT STEPS IN THEIR BUSINESS, LIKE GETTING A WEBSITE AND BRANDING, ACCOUNTING AND TAX GUIDANCE, AND MORE. THIS GIVES YOU A LEG UP COMPARED TO MOST BUSINESS OWNERS WHO NEED TO SEEK THIS OUT ON THEIR OWN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2CELLULAR FARMS CELLULAR FARMS COO BOARD MEMBER
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3A DRAFT COPY OF THE 990 IS SENT TO THE BOARD FOR APPROVAL PRIOR TO EFILING. ONCE APPOVED BY THE BOARD, THE RETURN IS FILED AND A FINAL COPY SUPPLIED FOR THE BOOST PAD RECORDS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4SOLICITATION LICENSE, ANNUAL TAX RETURN, AND OGRANIZATIONAL DOCUMENTS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5BANK CHARGES & FEES 0 20 0 MEALS & ENTERTAINMENT 0 487 0 CONTRACT LABOR 24,282 0 0 PAYROLL EXPENSES:PAYROLL FEES 22 0 0 TOTAL 24,304 507 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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ReturnHeader/ReturnTs02022-07-18T12:52:34-05:00
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ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

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