Hatch AVL Foundation

Nonprofit profile at a glance

EIN
814712143
IRS 990 coverage
2024–2024
Forms available
Form 990 2024, Form 990-EZ 2023, Form 990-N 2020
Location
Asheville, NC, USA
Phone
8283375955
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Small Business Development

Reported finances

Revenue
$274,169
Expenses
$172,443
Assets
$222,896
Liabilities
$630

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

Leadership & pay

7 people listed

People named in this filing

  • Mike Baer (Chair)
  • Maui Vang (Vice Chair)
  • Isaac Rowles (Treasurer)

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

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

Overview

Mission

The Hatch Innovation Hub is the home of high growth focused entrepreneurs in Asheville and Western North Carolina.

What it reported doing in 2024

Pitch Parties: This program provides a safe environment for entrepreneurs to pitch their ideas to peers, founders, and investors, which is a crucial skill for success. In 2024 there were 7 pitch parties with 5-8 companies presenting at each with an average of 30 attendees.

Operating model

Revenue model
Donor-supported. 99% of the money available for current operations came from contributions and gifts.
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 - The filed numbers largely add up and a large share of total spending goes to programs. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 60
  • Transparency & Controls: 92
  • Accountability: 88
  • Sustainability: 69
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 48.5%; rating input score 48
  • Program expense ratio: 77%; rating input score 77
  • Fundraising efficiency: $32.64 raised per $1 spent on fundraising; rating input score 69; 69th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • 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: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 37.1%; rating input score 86; 86th percentile among comparable filings
  • Total-asset coverage ratio: 1.29; rating input score 48; 48th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 53; 53rd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 22% per year; rating input score 100; 89th percentile among comparable filings
  • Asset growth: 13.6% per year; rating input score 100; 75th percentile among comparable filings

Details

  • Where the money goes: 48.5% of revenue deployed · 77% of spending went to programs
  • Governance: 7 of 7 board members independent · 5 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $133K in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 23 of 23 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 48/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 48/100.
  • Review — Sustainability: Liabilities to assets ratio scored 53/100.