Civic Intelligence

Boost Pad Inc.

990 • Fiscal year 2023 • EIN 84-3158649

Jan 01, 2023 to Dec 31, 2023 • Filed on Sep 12, 2024

2400 Greenland Ave Suite BCharlotte, NC 28208

(704) 560-3240

Siviq Scores

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

Liabilities / Assets

70th percentile

0.04x

Higher debt load relative to assets than 70% of similar nonprofits.

2023 filings • NTEE S • <$500k nonprofits • Source year 2023

Liabilities / Revenue

68th percentile

0.02x

Higher debt load relative to revenue than 68% of similar nonprofits.

2023 filings • NTEE S • <$500k nonprofits • Source year 2023

Net Margin

53rd percentile

7.6%

Higher net margin than 53% of similar nonprofits.

2023 filings • NTEE S • <$500k nonprofits • Source year 2023

Top Officer Pay

91st percentile

$43,400

Higher top officer pay than 91% of similar nonprofits.

Top officer pay equals 18.9% of source-year revenue.

2023 filings • NTEE S • <$500k nonprofits • Source year 2023

Asset Growth

15th percentile

-34%

Faster asset growth than 15% of similar nonprofits.

2023 filings • NTEE S • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

67th percentile

23%

Faster revenue growth than 67% of similar nonprofits.

2023 filings • NTEE S • <$500k nonprofits • Annualized from 2022 to 2023

Assets

Down

$122,837

Down $62,400 (-34%) from 2022

Net Assets

Down

$118,133

Down $67,104 (-36%) from 2022

Liabilities

Up

$4,704

Up $4,704 from 2022

Revenue

Up

$230,222

Up $42,708 (+23%) from 2022

Expenses

Up

$212,724

Up $57,614 (+37%) from 2022

Net Income

Down

$17,498

Down $14,906 (-46%) from 2022

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

2023

Assets$122,837
Liabilities$4,704
Net Assets$118,133

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

2023

Revenue$230,222
Expenses$212,724
Net Income$17,498
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Sep 12, 2024
Return Version
2023v5.0
Gross Receipts
$230,222
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$76,530$95,137▲ $18,607
Total Assets$101,530$122,837▲ $21,307
Other Assets Total$25,000$27,700▲ $2,700
Liabilities
Accounts Payable and Accrued Expenses$895$4,704▲ $3,809
Total Liabilities$895$4,704▲ $3,809
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$100,635$118,133▲ $17,498
Total Net Assets Fund Balance$100,635$118,133▲ $17,498
Total Liabilities and Net Assets / Fund Balance$101,530$122,837▲ $21,307

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$2,700--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Steven LewisExecutive DiFT$43,400$43,400
Joan RandallCo-executivePT$29,400$29,400

Board Members and Trustees

NameTitle
Doug NealBoard Chairm
Aimy SteeleBoard Member
Albert Lindemann IiiBoard Member
Dj BaudhuinBoard Member
Gary PalmerBoard Member
Jerel HarveyBoard Member
Joseph ButlerBoard Member
Keith LuedemannBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$229,211
Program Service Revenue
$0
Investment Income
$1,011
Other Revenue
$0
All Other Contributions
$229,211
Change in Net Assets
$17,498
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$107,268
Salaries, Compensation, and Employee Benefits$104,034
Total Fundraising Expense$13,547
Professional Fundraising Fees$1,422
Grants and Similar Amounts Paid$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$72,800--$72,800
Office Expenses-$41,921-$41,921
Fees for Services Other$39,825--$39,825
Other Salaries and Wages$23,903--$23,903
Payroll Taxes$7,331--$7,331
Fees for Services Accounting$2,835--$2,835
Insurance-$2,360-$2,360
Occupancy-$2,219-$2,219
Advertising$1,706--$1,706
Fees for Services Professional Fundraising--$1,422$1,422
All Other Expenses$514$275-$789
Other Expenses$700-$12,125$700
Travel$275--$275
Fees for Services Legal$158--$158
Interest-$25-$25
Total Functional Expenses$152,377$46,800$13,547$212,724
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$1,422
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
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
2400 GREENLAND AVE SUITE B, CHARLOTTE, NC 28208

Signing Officer

Name
Steven Lewis
Title
Executive Director
Phone
9809008030
Signed
2024-09-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Steven Lewis
Formed
2019
Legal Domicile
Nc
Voting Board Members
8
Independent Board Members
8
Employees
8

Preparer

Firm
Overman & Parks Cpas Pa
Address
110 ROUNDABOUT CT, ROCKY MOUNT, NC 27804
Preparer
Rebecca a Parks Cpapfs
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

Contract labor 37,075 0 0 professional services 2,750 0 0 total 39,825 0 0

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IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt06765
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0443751
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt025000
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt12700
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0BPI OWNED INVESTMENTS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1LOAN RECEIVABLE
IRS990ScheduleD/TotalBookValueOtherAssetsAmt027700
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt0CELLULAR FARMS
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0INVESTOR
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0PURCHASE 2.5% INTERE
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 CEO OF CELLULAR FARM.
IRS990ScheduleL/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE L, PART V
IRS990/ScheduleORequiredInd0true
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/ExplanationTxt5CONTRACT LABOR 37,075 0 0 PROFESSIONAL SERVICES 2,750 0 0 TOTAL 39,825 0 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART IX, LINE 11G
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0101530
IRS990/TotalAssetsEOYAmt0122837
IRS990/TotalAssetsGrp/BOYAmt0101530
IRS990/TotalAssetsGrp/EOYAmt0122837
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0229211
IRS990/TotalEmployeeCnt08
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt013547
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt046800
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0152377
IRS990/TotalFunctionalExpensesGrp/TotalAmt0212724
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0895
IRS990/TotalLiabilitiesEOYAmt04704
IRS990/TotalLiabilitiesGrp/BOYAmt0895
IRS990/TotalLiabilitiesGrp/EOYAmt04704
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0100635
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0118133
IRS990/TotalProgramServiceExpensesAmt0152377
IRS990/TotalReportableCompFromOrgAmt072800
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01011
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0230222
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0101530
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0122837
IRS990/TravelGrp/ProgramServicesAmt0275
IRS990/TravelGrp/TotalAmt0275
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt08
IRS990/WebsiteAddressTxt0THEBOOSTPAD.ORG
IRS990/WhistleblowerPolicyInd0false
IRS990/WrittenPolicyOrProcedureInd0true
ReturnHeader/BuildTS02024-08-08 14:25:15Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0STEVEN LEWIS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum09809008030
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-09-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0THE BOOST PAD
ReturnHeader/Filer/BusinessNameControlTxt0BOOS
ReturnHeader/Filer/EIN0843158649
ReturnHeader/Filer/USAddress/AddressLine1Txt02400 GREENLAND AVE SUITE B
ReturnHeader/Filer/USAddress/CityNm0CHARLOTTE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd028208
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0false
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0050539751
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0OVERMAN & PARKS CPAS PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0110 ROUNDABOUT CT
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0ROCKY MOUNT
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd027804
ReturnHeader/PreparerPersonGrp/PhoneNum02524433124
ReturnHeader/PreparerPersonGrp/PreparationDt02024-09-12
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0REBECCA A PARKS CPAPFS
ReturnHeader/ReturnTs02024-09-12T14:54:54-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

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