BOWIE BUSINESS INNOVATION CENTER I… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2009

Legal Domicile

Principal Officer

JUNE EVANS

Phone

3013831550

Tax Period

2023-01-01 to 2023-12-31

BOWIE BUSINESS INNOVATION CENTER INC, founded in 2009, is a small nonprofit in the Education sector that reported $473K in total revenue in fiscal year 2023. Revenue fell 86% from the prior year — a significant decline worth monitoring. Net assets of $3.3M represent 83 months of operating reserves.

Mission

ACCELERATE COMPANY GROWTH, INNOVATION AND JOB GENERATION IN THE CITY OF BOWIE AND PRINCE GEORGES COUNTY THROUGH A COORDINATED PROGRAM OF BUSINESS COUNSELING, MENTORING AND NETWORKING TO DRIVE BUSINESS SCALE-UP, ALONG WITH ACCESS TO FACILITIES AND MEETING SPACE.

Program Service Accomplishments

Program 1

Expenses: $465,417 Revenue: $473,017

THE BOWIE BUSINESS INNOVATION CENTER (BOWIE BIC) IS A BUSINESS ACCELERATOR PROGRAM WHERE TECHNOLOGY COMPANIES AND GOVERNMENT CONTRACTORS IN THE CITY OF BOWIE AND PRINCE GEORGES COUNTY ACCESS...

THE BOWIE BUSINESS INNOVATION CENTER (BOWIE BIC) IS A BUSINESS ACCELERATOR PROGRAM WHERE TECHNOLOGY COMPANIES AND GOVERNMENT CONTRACTORS IN THE CITY OF BOWIE AND PRINCE GEORGES COUNTY ACCESS MENTORING, TECHNICAL ASSISTANCE, COUNSELING AND CONNECTIONS TO PARTNERSS AND CAPITAL TO ACCELERATE THEIR BUSINESS GROWTH. HEADQUARTERED AT THE CENTER FOR BUSINESS AT BOWIE STATE UNIVERSITY, BOWIE BIC IS THE ONLY BUSINESS ACCELERATOR IN MARYLAND LOCATED AT A HISTORICALLY BLACK COLLEGE (HBCU) IN 2023, BOWIE BICS 107 ACCELERATOR PROGRAM CLIENTS AND GRADUATES REPORT GENERATING JOBS, XXXXX MILLION IN REVENUES, AND SUPPORTING XXX INTERNSHIPS FOR BOWIE STATE UNIVERSITY STUDENTS. WE ALSO ASSISTED COUNTY ENTREPRENEURS, WHO PARTICIPATED IN ON-SITE TRAINING AND COUNSELING PROGRAMS, IN 2021, CENTER OF EXCELLENCE FOR 8(A) WAS ESTABLISHED THROUGH A PARTNERSHIP BETWEEN BSU AND BOWIE BIC. THE CENTER WILL EXPAND THE BOWIE BIC 8(A) ACCELERATOR PROGRAM MODEL THROUGH AMERICAS HBCU NETWORK. THE CENTER WILL PROVIDE PROCUREMENT CAPTURE STRATEGY TRAINING, 8(A) MENTORSHIP PROGRAMS, ACCESS TO LEGAL EXPERTISE IN GOVERNMENT CONTRACTING, AND NEW OPPORTUNITIES FOR STUDENT INTERNSHIPS AND FACULTY RESEARCHERS. THE CENTER WILL BE A RESOURCE AND CLEARINGHOUSE FOR BEST PRACTICES IN 8(A) GOVENMENT CONTRACTING AND UTILIZE THE DATA ANALLYTICS CAPABILITIES AT BSU. IT WILL BUILD CAPACITY AT HBCUS BY CREATING A NEW, INNOVATIVE INFRASTRUCTURE OF SUCCESFUL, DIVERSE, AND INCLUSIVE GOVERNMENT CONTRACTING ACTIVITY THAT WILL ATTRACT PRIVATE SECTOR CAPITAL TO THE HBCUS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $330,711

Program Service Revenue $115,756

Investment Income $0

Other Revenue $26,550

TOTAL REVENUE $473,017

Expense Breakdown

Grants Paid $0

Salaries & Benefits $242,634

Fundraising Expenses $0

Program Expenses $465,417

Other Expenses $262,167

TOTAL EXPENSES $504,801

Year-over-Year Comparison

	2023	2022	Change
Revenue	$473,017	$3,282,481	-0.9%
Expenses	$504,801	$159,446	+2.2%
Net Income	$-31,784	$3,123,035	-1.0%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$95,198

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JUNE EVANS	EXECUTIVE DIRECTOR	40.00	Officer	$95,198	$0	$95,198
JESSE BUGGS	CHAIR	1.00	Officer Director	$0	$0	$0
WENDY L JENKINS	VICE CHAIR	1.00	Officer Director	$0	$0	$0
INDIA BASCOMBE	TREASURER	1.00	Officer Director	$0	$0	$0
CHARLENE T WADE	SECRETARY	1.00	Officer Director	$0	$0	$0
ISAIAS ALBA	BOARD MEMBER	1.00	Director	$0	$0	$0
MAGDALENA GEBREKRIST	BOARD MEMBER	1.00	Director	$0	$0	$0
ROBERT DURU	BOARD MEMBER	1.00	Director	$0	$0	$0
MARK A LAWRENCE	BOARD MEMBER	1.00	Director	$0	$0	$0
EBEN G SMITH	BOARD MEMBER	1.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$473,017	$504,801	$3,282,820	$-31,784
2022	$3,282,481	$159,446	$3,400,164	$3,123,035
2021	$496,434	$390,292	$386,840	$106,142
2020	$411,983	$331,395	$243,527	$80,588
2019	$342,616	$351,699	$141,095	$-9,083
2018	$388,158	$284,541	$160,267	$103,617

BOWIE BUSINESS INNOVATION CENTER INC