BETAMORE INC

EIN: 522156026 501(c)(3) Community Improvement

BALTIMORE, MD

Total Revenue
$217,026
Total Expenses
$334,221
Total Assets
$133,848
Net Assets
$-145,485
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1999
Legal Domicile
MD
Principal Officer
GREG CANGIALOSI
Phone
4432962382
Tax Period
2022-07-01 to 2023-06-30

BETAMORE INC, founded in 1999, is a small nonprofit in the Community Improvement sector that reported $217K in total revenue in fiscal year 2022. Revenue fell 41% from the prior year — a significant decline worth monitoring. Expenses of $334K exceeded revenue, resulting in a 54% operating deficit.

Mission

BETAMORE, INC. (ORGANIZATION) IS A NOTFORPROFIT ORGANIZATION INCORPORATED UNDER THE LAWS OF THE STATE OF MARYLAND. THE ORGANIZATION IS AN AWARDWINNING COWORKING SPACE, INCUBATOR AND CAMPUS FOR ENTREPRENEURSHIP AND TECHNOLOGY. THE ORGANIZATION'S MISSION IS TO MAKE BALTIMORE A GLOBAL ENTREPRENEURSHIP DESTINATION. ESTABLISHED IN 2012, THE ORGANIZATION ACTIVELY SUPPORTS, LAUNCHES AND GROWS TECHNOLOGYBASED STARTUP COMPANIES BY DELIVERING ON THREE CORE PILLARS: INCUBATION, EDUCATION AND COMMUNITY DEVELOPMENT.

Program Service Accomplishments

Program 1
Expenses: $248,146 Revenue: $138,865

BETAMORE IS AN AWARDWINNING COWORKING SPACE, INCUBATOR AND CAMPUS FOR TECHNOLOGY AND ENTREPRENEURSHIP. BETAMORE ACTIVELY SUPPORTS, LAUNCHES AND GROWS TECHNOLOGY BASED STARTUP COMPANIES BY DELIVERING...

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BETAMORE IS AN AWARDWINNING COWORKING SPACE, INCUBATOR AND CAMPUS FOR TECHNOLOGY AND ENTREPRENEURSHIP. BETAMORE ACTIVELY SUPPORTS, LAUNCHES AND GROWS TECHNOLOGY BASED STARTUP COMPANIES BY DELIVERING ON THREE CORE PILLARS: INCUBATION, EDUCATION AND COMMUNITY DEVELOPMENT. ITS EDUCATION AND EVENT OFFERINGS HAVE SERVED OVER 16,000 ATTENDEES AND 180+ ACADEMY GRADUATES. THROUGH ITS COMMUNITY DEVELOPMENT EFFORTS, BETAMORE CONTINUES TO SUPPORT AND ENGAGE MORE THAN 170 COMPANIES IN THE REGION. THROUGH ITS ADVISORY BOARD, BETAMORE CONNECTS 96 OF THE REGION'S HIGHEST PROFILE LEADERS TO THE BETAMORE MEMBERSHIP TO PROVIDE BUSINESSES WITH GUIDANCE AND MENTORSHIP.

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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%)

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Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $75,598
Program Service Revenue $23,600
Investment Income $0
Other Revenue $117,828
TOTAL REVENUE $217,026

Expense Breakdown

Grants Paid $0
Salaries & Benefits $86,102
Fundraising Expenses $27,625
Program Expenses $248,146
Other Expenses $248,119
TOTAL EXPENSES $334,221

Year-over-Year Comparison

2022 2021 Change
Revenue $217,026 $367,798 -0.4%
Expenses $334,221 $435,278 -0.2%
Net Income $-117,195 $-67,480 +0.7%
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

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Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
8
Independent Members
8
Employees
1
Volunteers
8

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
4
$77,500
Total Directors
8
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KIMMY ANDRULONIS Executive Dir. 40.00
Officer
$77,500 $0 $77,500
GREG CANGIALOSI Chairman 1.00
Officer Director
$0 $0 $0
TIM HODGE Secretary 1.00
Officer Director
$0 $0 $0
ROB ROSENBAUM Treasurer 1.00
Officer Director
$0 $0 $0
BRADLY MYERS Director 1.00
Director
$0 $0 $0
GEORGE DAVIS Director 1.00
Director
$0 $0 $0
DAMIAN RINTELMANN Director 1.00
Director
$0 $0 $0
ELLINGTON WEST Director 1.00
Director
$0 $0 $0
AARON BROOKS Director 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
2023 $217,026 $334,221 $133,848 $-117,195
2022 $367,798 $435,278 $308,748 $-67,480
2021 $448,971 $386,229 $242,956 $62,742
2020 $519,169 $654,157 $301,320 $-134,988
2019 $652,811 $768,580 $187,039 $-115,769
2018 $970,744 $908,839 $335,001 $61,905
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