Springboard Incubators Inc

Nonprofit profile at a glance

EIN
814200249
IRS 990 coverage
2022–2024
Forms available
Form 990 2024, Form 990-EZ 2020
Location
Garden City, NY, USA
Phone
5164142000
Rating
66
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Community, Neighborhood Development

Reported finances

Revenue
$201,444
Expenses
$215,604
Assets
$51,175
Liabilities
$247,977

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

Leadership & pay

3 people listed

Executive titles in this filing

  • STEVEN LINDO (PRESIDENT/CEO)
  • MERTON A OWENS (VICE PRESIDENT/TREASURER)

Highest reported compensation

  • STEVEN LINDO (PRESIDENT/CEO): $8,650 total reported compensation
  • JANICE LINDO (SECRETARY): $8,650 total reported compensation

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

Overview

Mission

Springboard's main mission is to bridge the digital divide, but more importantly the knowledge divide in technology for our region through educational programs and workshops. Our focus is to prepare individuals interested in pursuing careers in computer science and technology by putting them through courses in our workshops and life enrichment programs.

What it reported doing in 2024

Springboard innovation hub provides virtual office spaces, high-speed internet access, private meeting rooms, desks space, collaborative areas, and large co-meeting rooms. We provide mentoring for startups, business development workshops, and access to a wide network of support services. Our startup and tenants can expect the constant dissemination of relevant information providing guidance and insights for marketing and growing their business. Schools and universities can also benefit from springboard's many workshops geared to understanding how technology can be harnessed and used as a vehicle to drive a successful business.

Operating model

Revenue model
Earned-program. 94% of the money available for current operations came from fees and other program revenue.
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 available resources goes toward mission work. A relatively small share of voting board members are independent and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 64
  • Transparency & Controls: 92
  • Accountability: 43
  • Sustainability: 20
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 72.5%; rating input score 73
  • Program expense ratio: 67.8%; rating input score 68
  • Fundraising efficiency: $0.57 raised per $1 spent on fundraising; rating input score 4; 4th 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: 33.3%; rating input score 33; 15th percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 56
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -7%; rating input score 26; 26th percentile among comparable filings
  • Total-asset coverage ratio: 0.24; rating input score 13; 13th percentile among comparable filings
  • Liabilities to assets ratio: 4.85; rating input score 1; 1st percentile among comparable filings
  • Officer compensation ratio: 8%; rating input score 30; 30th percentile among comparable filings

Growth

  • Program expense growth: -13.5% per year; rating input score 0; 8th percentile among comparable filings
  • Revenue growth: 20.7% per year; rating input score 100; 88th percentile among comparable filings
  • Asset growth: 13.5% per year; rating input score 100; 74th percentile among comparable filings

Details

  • Where the money goes: 72.5% of revenue deployed · 67.8% of spending went to programs
  • Governance: 1 of 3 board members independent · 5 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $146K in reported program spending
  • Leadership: top reported pay $9K · 3 people listed
  • Consistency: 23 of 23 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: 6 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.

  • Moderate — Accountability: Independent voting board scored 33/100.
  • High — Financial Efficiency: Fundraising efficiency scored 4/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Operating margin scored 26/100.
  • High — Sustainability: Total-asset coverage ratio scored 13/100.
  • High — Sustainability: Liabilities to assets ratio scored 1/100.
  • Moderate — Sustainability: Officer compensation ratio scored 30/100.