Growth Enterprises Nashville, Inc
Fiscal Year
Fiscal Year Start
10/01/2023
Fiscal Year End
09/30/2024
Projected Revenue
$1,280,779.96
Projected Expenses
$907,862.92
Organizational Budgets and Other Documents
IRS Letter of Exemption
| IRS Letter |
Detailed Financials
Revenue and Expenses
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Total Revenue | $1,670,908.00 | $846,186.00 | |
| Total Expenses | $635,862.00 | $953,323.00 | |
| Revenue Less Expenses | ($-0.00) | $1,035,046.00 | ($107,137.00) |
Revenue Sources
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Foundation and Corporation Contributions | $0.00 | $0.00 | |
| Government - Federal | $0.00 | $0.00 | |
| Government - State | $0.00 | $0.00 | |
| Government - Local | $0.00 | $0.00 | |
| Government - Unspecified | $294,900.00 | $539,806.00 | |
| Contributions, Gifts, and Grants | $1,347,485.00 | $219,519.00 | |
| Indirect Public Support | $0.00 | $0.00 | |
| Earned Revenue | $667.00 | $57,492.00 | |
| Investment Income, Net of Losses | $9.00 | $93.00 | |
| Membership Dues | $0.00 | $0.00 | |
| Special Events | $27,272.00 | $29,172.00 | |
| Revenue In-Kind | $0.00 | $0.00 | |
| Other | $575.00 | $0.00 |
Expense Allocation
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Program Expense | $458,807.00 | $680,672.00 | |
| Administration Expense | $152,640.00 | $247,107.00 | |
| Fundraising Expense | $24,415.00 | $25,544.00 | |
| Total Revenue/Total Expenses | 263% | 89% | |
| Program Expense/Total Expenses | 72% | 71% | |
| Fundraising Expense/Contributed Revenue | 4% | 3% |
Top Funding Sources
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Top Funding Source & Dollar Amount | $0.00 | Contributions, Gifts, and Grants $1,347,485.00 | Government Grants $539,806.00 |
| Second Highest Funding Source & Dollar Amount | $0.00 | Government Grants $294,900.00 | Contributions, Gifts, Grants $219,519.00 |
| Third Highest Funding Source & Dollar Amount | $0.00 | Fundraising Events $27,272.00 | Program Revenue $57,492.00 |
Assets and Liabilities
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Total Assets | $1,802,518.00 | $371,823.00 | |
| Current Assets | $1,801,477.00 | $355,083.00 | |
| Long-Term Liabilities | $20,442.00 | $3,775.00 | |
| Current Liabilities | $483,134.00 | $79,452.00 | |
| Total Net Assets | $1,298,942.00 | $288,596.00 |
Endowment Info
Do you have an endowment?
No
Capital Campaign Info
Are you currently in a Capital Campaign?
No
Do you anticipate a campaign in the next 5 years?
Yes
Solicitation Permit Info
State Charitable Solicitations Permit
Under Extension
Solicitations Permit
Form 990s
Audit Documents
| 9-30-22 GENI dba NBIC Audit 2022 | 2022 |
| Audit FS 2021 NBIC | 2021 |
| Audited FS 2020 NBIC | 2020 |
| Audited FS 2019 NBIC | 2019 |
CEO/Executive Director/Board Comments
| The Nashville Business Incubation Center staff are consistently developing and reshaping our programming to best suit changes in economic trends. The current financial situation at NBIC is stable with funds needed to enhance our trainings and offer proposed community outreach programs focusing on women, veteran and minority businesses. Through these efforts we continue to expand to maximize impact in communities with potential for growth. Our mission is being achieved as we aim to develop business markets through outreach programs to disadvantaged segments of the population. |
Foundation Staff Comments
| Financial figures taken from the 990. Form 990 completed by Kraft CPAS, PLLC. Comment provided by Hayley Sulfridge 8/14/23. |
