Mhub Support Corporation

Nonprofit profile at a glance

EIN
884394299
IRS 990 coverage
2023–2024
Forms available
Form 990 2024
Location
Chicago, IL, USA
Phone
3124914449
Rating
58
Verdict
MIXED
Rating confidence
Moderate
Sector
Single Organization Support

Official website

Reported finances

Revenue
$19,338,474
Expenses
$2,908,814
Assets
$68,721,517
Liabilities
$53,049,936

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

Leadership & pay

7 people listed

Executive titles in this filing

  • HAVEN ALLEN (PRESIDENT)

Highest reported compensation

  • HAVEN ALLEN (PRESIDENT): $553,521 total reported compensation
  • MANAS MEHANDRU (TREASURER): $396,019 total reported compensation
  • MELISSA LEDERER (SECRETARY): $315,414 total reported compensation

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

Overview

Mission

The organization operates at all times exclusively for the benefit of, to perform the functions of, and/or to carry out the purposes of mhub that is an organization to enable u.s. Hardtech innovation and commercialization by fueling collaboration and providing an accessible, hyper-resourced environment to develop, fund and accelerate clean energy, health, sustainability, and manufacturing entrepreneurship.

What it reported doing in 2024

Supporting operations: leasing of the project facility to mhub for operation as a hardtech innovation accelerator focused on recruiting, supporting, developing, and launching minority and women owned business enterprises.

Operating model

Revenue model
Grant-funded. 91% of the money available for current operations came from government grants.
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

MIXED - The filed numbers largely add up and most filed governance safeguards are in place. A relatively small share of available resources goes toward mission work and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 40
  • Transparency & Controls: 65
  • Accountability: 66
  • Sustainability: 84
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 14.8%; rating input score 15
  • Program expense ratio: 96.2%; rating input score 96
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd 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: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 57.1%; rating input score 57; 9th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 85%; rating input score 98; 98th percentile among comparable filings
  • Total-asset coverage ratio: 23.63; rating input score 97; 97th percentile among comparable filings
  • Liabilities to assets ratio: 0.77; rating input score 15; 15th percentile among comparable filings
  • Officer compensation ratio: 3%; rating input score 68; 68th percentile among comparable filings

Growth

  • Program expense growth: 72.3% per year; rating input score 100; 99th percentile among comparable filings
  • Revenue growth: 188.4% per year; rating input score 100; 100th percentile among comparable filings
  • Asset growth: 22.5% per year; rating input score 100; 92nd percentile among comparable filings

Details

  • Where the money goes: 14.8% of revenue deployed · 96.2% of spending went to programs
  • Governance: 4 of 7 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $2.8M in reported program spending
  • Leadership: top reported pay $554K · 7 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 17 of 17 current checks pass
  • Schedules: 7 filed schedules · includes major donors and executive pay
  • Filing history: 2 filing years from 2023 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 2 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.

  • High — Financial Efficiency: Mission deployment rate scored 15/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Independent voting board scored 57/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 15/100.