Waco Entrepreneurial Ecosystem Collaborative Inc
Nonprofit profile at a glance
- EIN
- 822094253
- IRS 990 coverage
- 2018–2024
- Forms available
- Form 990 2024
- Location
- Waco, TX, USA
- Phone
- 2543049179
- Rating
- 85
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Economic Development
Reported finances
- Revenue
- $10,780,187
- Expenses
- $11,422,855
- Assets
- $5,090,111
- Liabilities
- $113,139
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
15 people listed
Executive titles in this filing
- JON PASSAVANT (CEO)
Highest reported compensation
- JON PASSAVANT (CEO): $139,276 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Start up waco is a Texas nonprofit organization formed via collaboration of cross-sector partnerships that aspire to lead waco's entrepreneurial support efforts and elevate waco as a hub for business innovation.
What it reported doing in 2024
For students, we operated two main programs, one is an advisory program at the baylor university hankamer school of business, and the other is called gxg which began in june of 2022. Gxg is a student-athlete development program that connects business leaders and entrepreneurs to local student-athletes, and works directly with student-athletes to provide business education services, entrepreneurial support, and financial literacy training. This program is facilitated through a combination of in-person and virtual workshops, seminars and events, and helps provide a foundation to any student-athlete within our service area who is building a business or entrepreneurial foundation.
Operating model
- Revenue model
- Donor-supported. 97% 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
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 87
- Transparency & Controls: 92
- Accountability: 79
- Sustainability: 31
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 94.9%; rating input score 95
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 62nd 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; 66th percentile among comparable filings
- Governance controls: 4 of 8 controls in place; rating input score 50
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- Document-retention policy: Fail
- 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: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: -6%; rating input score 15; 15th percentile among comparable filings
- Total-asset coverage ratio: 0.45; rating input score 13; 13th percentile among comparable filings
- Liabilities to assets ratio: 0.02; rating input score 89; 89th percentile among comparable filings
- Officer compensation ratio: 1.2%; rating input score 84; 84th percentile among comparable filings
Growth
- Program expense growth: 57.2% per year; rating input score 100; 98th percentile among comparable filings
- Revenue growth: 46.2% per year; rating input score 100; 98th percentile among comparable filings
- Asset growth: 35.6% per year; rating input score 100; 97th percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 94.9% of spending went to programs
- Governance: 15 of 15 board members independent · 4 of 8 filing controls reported
- Programs: 3 filed program accomplishments · $10.8M in reported program spending
- Leadership: top reported pay $139K · 15 people listed
- Highest-paid contractors: 5 contractors listed · $2.4M reported
- Consistency: 29 of 29 current checks pass
- Schedules: 4 filed schedules · includes major donors
- Filing history: 6 filing years from 2018 to 2024
- 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.
- Review — Accountability: Governance controls: 3 of 7 not reported.
- High — Sustainability: Operating margin scored 15/100.
- High — Sustainability: Total-asset coverage ratio scored 13/100.