Southside Business Technology Center Inc (Dba the Launch Place)
Nonprofit profile at a glance
- EIN
- 202917301
- IRS 990 coverage
- 2011–2024
- Forms available
- Form 990 2024
- Location
- Danville, VA, USA
- Phone
- 4347995491
- Rating
- 74
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Economic Development
Reported finances
- Revenue
- $926,176
- Expenses
- $863,478
- Assets
- $9,798,445
- Liabilities
- $2,170
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
7 people listed
Executive titles in this filing
- EVA DOSS (PRESIDENT/CEO)
- VARUN SADANA (VICE PRESIDENT)
Highest reported compensation
- EVA DOSS (PRESIDENT/CEO): $203,391 total reported compensation
- VARUN SADANA (VICE PRESIDENT): $163,756 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 launch place (tlp), a venture development organization located in danville, va and in the research triangle park, nc. The launch place invests in innovative start-ups in Virginia and North Carolina with a potential to create economic impact in the dan river region from its pre-seed and seed investment funds. In addition to the investments, tlp provides business consulting, training, mentoring and office space to entrepreneurs.
What it reported doing in 2024
The launch place invests in innovative start-ups in Virginia and North Carolina with a potential to create economic impact in the dan river region from its pre-seed and seed investment funds. In addition to the investments, tlp provides business consulting, training, mentoring and office space to entrepreneurs.
Operating model
- Revenue model
- Donor-supported. 68% 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 - A large share of available resources goes toward mission work and the filed numbers largely add up. Program spending has declined or grown slowly and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 67
- Transparency & Controls: 74
- Accountability: 95
- Sustainability: 63
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 76.5%; rating input score 76
- Program expense ratio: 74.9%; rating input score 75
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: 1 of 6 controls in place; rating input score 17
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Pass
- 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: 7 of 8 controls in place; rating input score 88
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Fail
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 6.8%; rating input score 54; 54th percentile among comparable filings
- Total-asset coverage ratio: 11.35; rating input score 93; 93rd percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 82; 82nd percentile among comparable filings
- Officer compensation ratio: 42.5%; rating input score 3; 3rd percentile among comparable filings
Growth
- Program expense growth: -1.2% per year; rating input score 0; 14th percentile among comparable filings
- Revenue growth: 4.5% per year; rating input score 100; 40th percentile among comparable filings
- Asset growth: 16.8% per year; rating input score 100; 76th percentile among comparable filings
Details
- Where the money goes: 76.5% of revenue deployed · 74.9% of spending went to programs
- Governance: 6 of 6 board members independent · 7 of 8 filing controls reported
- Programs: 1 filed program accomplishment · $647K in reported program spending
- Leadership: top reported pay $203K · 7 people listed · 1 of 6 pay-setting controls reported
- Consistency: 32 of 32 current checks pass
- Schedules: 6 filed schedules · includes major donors and executive pay
- Filing history: 14 filing years from 2011 to 2024
- Contacts: How to reach this organization
- Money network: 2 filed money-flow records
- 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: Program expense growth scored 0/100.
- Review — Sustainability: Operating margin scored 54/100.
- Review — Accountability: Governance controls: Audit committee oversight not reported.
- High — Sustainability: Officer compensation ratio scored 3/100.