Union Heritage Early Stage Fund

Nonprofit profile at a glance

EIN
995144915
IRS 990 coverage
2024–2024
Forms available
Form 990 2024
Location
Detroit, MI, USA
Phone
3133000207
Rating confidence
Limited
Sector
Economic Development

Official website

Reported finances

Revenue
$0
Expenses
$38,180
Assets
$592,020
Liabilities
$630,200

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

Leadership & pay

3 people listed

Executive titles in this filing

  • DEREK BATTS (PRESIDENT, C.E.O., AND TREASURER)

People named in this filing

  • DEREK BATTS (PRESIDENT, C.E.O., AND TREASURER)
  • NIA BATTS (SECRETARY)
  • SOPHIA BUSH (DIRECTOR)

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 organization's mission is to encourage, promote, and support early-stage, high-growth companies and entrepreneurs who are developing solutions that serve historically underserved communities. The organization fosters economic growth by providing catalytic investment, as well as pre-investment and post-investment support.

What it reported doing in 2024

Ecosystem and pipeline development - the organization actively worked to develop a robust ecosystem pipeline of founders by participating in ecosystem engagement activities, providing feedback to entrepreneurs, and collaborating with ecosystem support organizations. These efforts will help identify early-stage entrepreneurs, foster collaboration among local stakeholders, and enhance visibility of investment opportunities that align with the organization's mission.

Operating model

Revenue model
No positive adjusted resources. The filing reports no positive adjusted operating resources.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 90
  • Accountability: 49
  • Sustainability: 29
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 33.3%; rating input score 33; 19th 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: Limited
  • Total-asset coverage ratio: 15.51; rating input score 73; 73rd percentile among comparable filings
  • Liabilities to assets ratio: 1.06; rating input score 5; 5th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 0% of spending went to programs
  • Governance: 1 of 3 board members independent · 5 of 7 filing controls reported
  • Programs: 3 filed program accomplishments
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 20 of 20 current checks pass
  • Schedules: 5 filed schedules
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 3 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: Program expense ratio scored 0/100.
  • Moderate — Accountability: Independent voting board scored 33/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Liabilities to assets ratio scored 5/100.