Civic Intelligence

Ignite Capital Inc.

990 • Fiscal year 2020 • EIN 84-4893203

Feb 26, 2020 to Dec 31, 2020 • Filed on Nov 15, 2022

Organization ProfileWWW.IGNITECAPITAL.ORG
1400 Greenmount Ave B01Baltimore, MD 21202

(410) 371-4722

Siviq Scores

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

Liabilities / Assets

93rd percentile

0.98x

Higher debt load relative to assets than 93% of similar nonprofits.

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

Liabilities / Revenue

100th percentile

32.00x

Higher debt load relative to revenue than 100% of similar nonprofits.

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

Net Margin

95th percentile

71%

Higher net margin than 95% of similar nonprofits.

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

Top Officer Pay

90th percentile

$109,694

Higher top officer pay than 90% of similar nonprofits.

Top officer pay equals 561.6% of source-year revenue.

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

Asset Growth

Score unavailable

No value available

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

Source year 2020

Revenue Growth

Score unavailable

No value available

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

Source year 2020

Balance Sheet
Liabilities / Assets93rd percentile

Assets

$638,898

No earlier filing loaded for comparison.

Net Assets

$13,898

No earlier filing loaded for comparison.

Liabilities

$625,000

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue100th percentileNet Margin95th percentile

Revenue

$19,534

No earlier filing loaded for comparison.

Expenses

$5,636

No earlier filing loaded for comparison.

Net Income

$13,898

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2020: $638,898Liabilities 2020: $625,000Net Assets 2020: $13,8982020Assets 2021: $988,673Liabilities 2021: $893,973Net Assets 2021: $94,7002021Assets 2022: $2,079,883Liabilities 2022: $1,876,875Net Assets 2022: $203,0082022Assets 2023: $2,460,361Liabilities 2023: $2,320,567Net Assets 2023: $139,7942023Assets 2024: $3,315,853Liabilities 2024: $3,092,530Net Assets 2024: $223,3232024

Highlighted filing

2020

Assets$638,898
Liabilities$625,000
Net Assets$13,898
Open 2020 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$400K$200K$0-$200KRevenue 2020: $19,534Expenses 2020: $5,636Net Income 2020: $13,8982020Revenue 2021: $387,747Expenses 2021: $306,945Net Income 2021: $80,8022021Revenue 2022: $317,895Expenses 2022: $209,587Net Income 2022: $108,3082022Revenue 2023: $263,432Expenses 2023: $326,646Net Income 2023: -$63,2142023Revenue 2024: $283,280Expenses 2024: $199,751Net Income 2024: $83,5292024

Highlighted filing

2020

Revenue$19,534
Expenses$5,636
Net Income$13,898
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Feb 26, 2020 to Dec 31, 2020
Signed
Nov 15, 2022
Return Version
2020v4.2
Gross Receipts
$269,885
Mission and Program Overview

Mission

Ignite capital is a social impact fund with the mission to 1) empower and resource baltimore social enterprises in economically distressed communitites, 2)support the overall efforts of these social enterprises to attract future investments in support of their mission and, 3) contribute to ongoing efforts in ensuring baltimore neighborhoods are thriving sustainably.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts-$518,898-
Other Notes and Loans Receivable, Net-$120,000-
Rtn Earn Endowment Incm Other Fnds$0$13,898▲ $13,898
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$0$638,898▲ $638,898
Liabilities
Other Liabilities$0$625,000▲ $625,000
Total Liabilities$0$625,000▲ $625,000
Net Assets / Fund Balance
Total Net Assets Fund Balance$0$13,898▲ $13,898
Total Liabilities and Net Assets / Fund Balance$0$638,898▲ $638,898
Compensation and Service Providers
Top Officer Pay90th percentile

Employees

NameTitleOtherTotal
Jay NwachuPresident$109,694$109,694

Board Members and Trustees

NameTitle
Patti ChandlerChairman
Dan RizzoDirector
Fr Richard McgowanDirector
Murray DalzielDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$20,000
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$-466
All Other Contributions
$20,000
Change in Net Assets
$13,898
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$5,636
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
Fees for Services Legal-$5,520-$5,520
Other Expenses-$116-$116
Total Functional Expenses$0$5,636$0$5,636
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Other$575,000
Loan Payable Related Party$50,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
No

Governance Explanations

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

“The tax return is furnished to the board members for their approval prior to filing.”

Form 990, Part VI, Section B, Line 15

“Compensation for ceo is determined by board members after reviewing comparable data from other organizations.”

Form 990, Part VI, Section C, Line 18

“Documents are available by written request”

Form 990, Part VI, Section C, Line 19

“Documents are available by written request”

Filing and Contact Details

Filer

Filer Name
Ignite Capital Inc
EIN
84-4893203
Phone
4103714722
Address
1400 GREENMOUNT AVE B01, BALTIMORE, MD 21202

Signing Officer

Name
Jay Nwachu
Title
President
Phone
4103714722
Signed
2022-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jay Nwachu
Formed
2020
Legal Domicile
Md
Voting Board Members
5
Independent Board Members
4
Employees
0
Volunteers
0

Preparer

Firm
Uhy Advisors Mid-atlantic Md Inc
Address
705 YORK ROAD, TOWSON, MD 21204
Preparer
John B Kincaid Jr
Phone
4108281961
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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/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0638898
IRS990/TotReportableCompRltdOrgAmt0109694
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01400 GREENMOUNT AVE B01
IRS990/USAddress/CityNm0BALTIMORE
IRS990/USAddress/StateAbbreviationCd0MD
IRS990/USAddress/ZIPCd021202
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0WWW.IGNITECAPITAL.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0JAY NWACHU
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum04103714722
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-11-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0IGNITE CAPITAL INC
ReturnHeader/Filer/BusinessNameControlTxt0IGNI
ReturnHeader/Filer/EIN0844893203
ReturnHeader/Filer/PhoneNum04103714722
ReturnHeader/Filer/USAddress/AddressLine1Txt01400 GREENMOUNT AVE B01
ReturnHeader/Filer/USAddress/CityNm0BALTIMORE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MD
ReturnHeader/Filer/USAddress/ZIPCd021202
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0260794367
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0UHY ADVISORS MID-ATLANTIC MD INC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0705 YORK ROAD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0TOWSON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd021204
ReturnHeader/PreparerPersonGrp/PhoneNum04108281961
ReturnHeader/PreparerPersonGrp/PreparationDt02022-11-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JOHN B KINCAID JR
ReturnHeader/ReturnTs02022-11-16T08:09:32-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0JAY
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0NWACHU
ReturnHeader/TaxPeriodBeginDt02020-02-26
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$638,898
Liabilities
$625,000
Net assets
$13,898
Revenue
$19,534
Expenses
$5,636
Net income
$13,898
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.32$3.09$0.22$0.28$0.20$0.08
2023Summary only. Only limited summary data is available for this year.$2.46$2.32$0.14$0.26$0.33$0.06
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.08$1.88$0.20$0.32$0.21$0.11
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.99$0.89$0.09$0.39$0.31$0.08
2020Detailed filing. Detailed filing data is available for this year.$0.64$0.63$0.01$0.02$0.01$0.01