757 Accelerate Inc

Nonprofit profile at a glance

EIN
823232312
IRS 990 coverage
2018–2024
Forms available
Form 990 2024
Location
Norfolk, VA, USA
Phone
8043661535
Rating
68
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Economic Development

Reported finances

Revenue
$1,238,698
Expenses
$1,663,078
Assets
$507,572
Liabilities
$2,284

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

17 people listed

Executive titles in this filing

  • TIM RYAN (EXECUTIVE DIRECTOR)

Highest reported compensation

  • CHARLES CORPREW (SECRETARY): $140,400 total reported compensation
  • PAUL NOLDE (PREDSIDENT): $100,663 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

757 accelerate is a non-profit startup accelerator and incubator program. Our mission is to provide startups with the customized resources and capital they need to grow. We boost promising startups towards customer traction and revenue using their own network of mentors, investors, support service, working space, and a lean startup education. Our values are entrepreneurs-first, give before you get, and a long-term commitment to helping startups do more, faster.

What it reported doing in 2024

757 accelerate, the flagship investor-readiness program, has now supported 54 startups across eight cohorts, helping raise more than $100 million to date, including $20+ million in 2024. The program created over 350 jobs and delivered over 1,500 hours of mentorship in the past year. Additional highlights include strategic innovation partnerships across climate, health, and defense tech sectors. The organization hosted 85 invite-only innovation events, facilitated over 200 matb startup connections, and helped 28 small businesses and two universities pitch directly to navy and air force stakeholders.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 82% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of total spending goes to programs and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 58
  • Transparency & Controls: 89
  • Accountability: 62
  • Sustainability: 18
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 71.7%; rating input score 72
  • Program expense ratio: 53.1%; rating input score 53
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 12th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 88.2%; rating input score 88; 22nd percentile among comparable filings
  • Governance controls: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -34.3%; rating input score 5; 5th percentile among comparable filings
  • Total-asset coverage ratio: 0.31; rating input score 14; 14th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 74; 74th percentile among comparable filings
  • Officer compensation ratio: 14.5%; rating input score 24; 24th percentile among comparable filings

Growth

  • Program expense growth: 18.9% per year; rating input score 100; 81st percentile among comparable filings
  • Revenue growth: 18.4% per year; rating input score 100; 84th percentile among comparable filings
  • Asset growth: 11.7% per year; rating input score 100; 64th percentile among comparable filings

Details

  • Where the money goes: 71.7% of revenue deployed · 53.1% of spending went to programs
  • Governance: 15 of 17 board members independent · 2 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $884K in reported program spending
  • Leadership: top reported pay $140K · 17 people listed
  • Consistency: 28 of 29 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 7 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Money network: 10 filed money-flow records
  • Related organizations: 8 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Financial Efficiency: Program expense ratio scored 53/100.
  • High — Accountability: Governance controls: 5 of 7 not reported.
  • High — Sustainability: Operating margin scored 5/100.
  • High — Sustainability: Total-asset coverage ratio scored 14/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 24/100.