Amplify Louisville Inc

Nonprofit profile at a glance

EIN
834402051
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Louisville, KY, USA
Phone
5023806550
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Economic Development

Official website

Reported finances

Revenue
$843,077
Expenses
$886,512
Assets
$16,295
Liabilities
$134,630

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

Leadership & pay

15 people listed

Executive titles in this filing

  • LARRY HORN (EXECUTIVE DIRECTOR)

Highest reported compensation

  • LARRY HORN (EXECUTIVE DIRECTOR): $156,000 total reported compensation
  • JENNIFER CALLAHAN (CHIEF VISION OFFICER): $106,000 total reported compensation

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

Overview

Mission

Amplify louisville is a place for startups and founders to explore ideas, build solutions, launch products, and grow businesses.

What it reported doing in 2024

The uofl eir program provides seasoned entrepreneurs who will engage directly with uofl research groups to help advance technologies toward market. Uofl will support healthcare entrepreneurship and talent development through its deeply established and existing relationship with lhcc. Elements of this include continuing to build out the innovation cycle connecting solutions to corporates, connecting eirs to corporations, capital access for entrepreneurs, supporting projects and programs including incubators, accelerators, and seed funding for pilots that support early-stage healthcare entrepreneurship.

Operating model

Revenue model
Grant-funded. 76% of the money available for current operations came from government grants.
Distribution model
Hybrid. The nonprofit split its reported program spending across 77% for direct work, and 23% for grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 77
  • Transparency & Controls: 71
  • Accountability: 77
  • Sustainability: 13
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 87.9%; rating input score 88
  • Program expense ratio: 83.6%; rating input score 84
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 4 of 9 controls in place; rating input score 44
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -5.2%; rating input score 24; 24th percentile among comparable filings
  • Total-asset coverage ratio: 0.02; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: 8.26; rating input score 0; 0th percentile among comparable filings
  • Officer compensation ratio: 29.6%; rating input score 7; 7th percentile among comparable filings

Growth

  • Program expense growth: 4.5% per year; rating input score 100; 39th percentile among comparable filings
  • Revenue growth: 3.1% per year; rating input score 100; 31st percentile among comparable filings
  • Asset growth: -37.7% per year; rating input score 0; 1st percentile among comparable filings

Details

  • Where the money goes: 87.9% of revenue deployed · 83.6% of spending went to programs
  • Governance: 13 of 13 board members independent · 4 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $741K in reported program spending
  • Leadership: top reported pay $156K · 15 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 32 of 32 current checks pass
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 5 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Accountability: Governance controls: 4 of 8 not reported.
  • High — Sustainability: Operating margin scored 24/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 7/100.