Collab Incorporated

Nonprofit profile at a glance

EIN
861737815
IRS 990-EZ coverage
2023–2023
Forms available
Form 990 2021, Form 990-EZ 2023, Form 990-N 2023
Location
New Haven, CT, USA
Phone
8778295500
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Community, Neighborhood Development

Reported finances

Revenue
$153,782
Expenses
$276,625
Assets
$32,903
Liabilities
$19,190

Source: IRS Form 990-EZ. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

4 people listed

People named in this filing

  • DAWN LEAKS (EXECUTIVE DI)
  • VIRGINIA KOZLOWSKI (TREASURER)
  • KARLA LINDQUIST (SECRETARY)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990-EZ. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide entrepreneurs with impactful, rigorous business support using a compassionate, fundamentally heart-centered approach to build good businesses, create economic power, and shape their communities for themselves, and their families. We prioritize serving people of color and women who face persistent and significant barriers to entrepreneurship.

What it reported doing in 2023

Collab is an organization that aims to provide entrepreneurs with impactful, rigorous business support using a compassionate, fundamentally heart-centered approach so that they can build good businesses, create economic power, and shape their communities for themselves and their families. We prioritize serving people of color and women - particularly black and latinx entrepreneurs - who face persistent and significant barriers because of structural racism and sexism. Entrepreneurship is a way to create economic stability for families, and also for individuals to have agency and ownership in their lives and their communities. Our core belief is that entrepreneurship (which we define as the act of taking a risk on behalf of our community) should be accessible to every single person, no matter where they come from. We see our work as being a part of a wider ecosystem of entrepreneurship support resources, funding, and programs in our community. Our work within that ecosystem has 3 components: "trust & access: we have deep and broad outreach infrastructure to reach the most entrepreneurs. Our programs provide wraparound services like childcare, transportation, and interpretation to make sure individuals can be supported and successful. "high-touch programs: our programs combine high-quality business education with a heart-based leadership development curriculum. "ecosystem pathways: we take an ecosystem-level approach to ensure entrepreneurs have a system of enduring support - including a broad network of mentors, pro bono partners, funders, and other programs. "community & power: our entrepreneurs are more powerful when they move and work together. We bring our 100+ graduates together to act as a coalition to advocate for themselves and our community's collective good.

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 100% 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 - A large share of available resources goes toward mission work and the filed numbers largely add up. Revenue has declined or grown slowly and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 82
  • Sustainability: 8
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 66.5%; rating input score 67

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: -79.9%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 0.12; rating input score 12; 12th percentile among comparable filings
  • Liabilities to assets ratio: 0.58; rating input score 9; 9th percentile among comparable filings
  • Officer compensation ratio: 6%; rating input score 24; 24th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -25.5% per year; rating input score 0; 2nd percentile among comparable filings
  • Asset growth: -41.5% per year; rating input score 0; 3rd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 66.5% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $184K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 7 of 7 current checks pass
  • Schedules: 2 filed schedules
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • 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 — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 1/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 12/100.
  • High — Sustainability: Liabilities to assets ratio scored 9/100.
  • High — Sustainability: Officer compensation ratio scored 24/100.