2024-11-13T15:33:30-06:00 2023-12-31 381357951 PLANTE & MORAN PLLC 10 S RIVERSIDE PLAZA 9TH FLOOR CHICAGO IL 60606 990 2023-01-01 463388438 MHUB MHUB 3122488701 1623 W FULTON ST CHICAGO IL 60612 HAVEN ALLEN CHIEF EXECUTIVE OFFICER 3122488701 2024-11-12 1 1 DAVID LOWENTHAL P00378651 3122071040 2024-11-12 2023 2024-10-15 13:58:12Z HAVEN ALLEN 1623 W FULTON ST CHICAGO IL 60612 18882917 0 X WWW.MHUBCHICAGO.COM X 2013 IL MHUB IS THE NATION'S LARGEST AND FASTEST GROWING INNOVATION CENTER FOR HARDTECH AND MANUFACTURING. MHUB IS A COMMUNITY OF PRODUCT DESIGNERS, DEVELOPERS, ENTREPRENEURS, ENGINEERS, AND MANUFACTURERS TAKING BREAKTHROUGH PRODUCTS TO MARKET. 25 25 43 0 0 0 4314142 12588588 4830862 5927270 -95221 201197 67167 91374 9116950 18808429 0 0 0 0 3446881 3903605 0 0 348467 4731899 5291432 8178780 9195037 938170 9613392 3842731 49982089 4352843 40878809 -510112 9103280 X TO ENABLE U.S. HARDTECH INNOVATION AND COMMERCIALIZATION BY FUELING COLLABORATION AND PROVIDING AND ACCESSIBLE, HYPER-RESOURCED ENVIRONMENT TO DEVELOP, FUND AND ACCELERATE CLEAN ENERGY, HEALTH, SUSTAINABILITY, AND MANUFACTURING ENTREPRENEURSHIP. 0 0 1814704 2156025 HARDTECH DEVELOPMENT SERVICES (MHUB HD): MHUB HD FORMERLY KNOWN AS MHUB PRODUCT DEVELOPMENT (MHUB PD), ACCELERATES PRODUCT DEVELOPMENT BY CONNECTING TALENTED, INNOVATIVE AND EAGER ENTREPRENEURS AND STARTUPS WITH ESTABLISHED MANUFACTURERS AND INDUSTRY LEADERS. MHUB ENGAGES WITH CLIENTS IN MANY WAYS AND VARIOUS TIMELINES WITHIN THE DEVELOPMENT PROCESS FROM IDEATION TO FINAL PRODUCT. 1264632 2235893 INNOVATION CENTER: A SHARED WORKSPACE COMMUNITY, WITHIN MHUB, OF PRODUCT DESIGNERS, DEVELOPERS, ENTREPRENEURS, ENGINEERS AND MANUFACTURERS WHO CREATE BREAKTHROUGH PRODUCTS IN ROBOTICS, CONNECTED DEVICES, SENSORS, ENERGY TECH, UNMANNED VEHICLES AND OTHER CUTTING-EDGE INNOVATIONS BY PROVIDING THE RIGHT RESOURCES, MENTORSHIP, AND ACCESS TO MANUFACTURING INDUSTRY INSIDERS. MHUB HELPS EARLY-STAGE INNOVATIONS GO FROM PROTOTYPE TO PRODUCT TO SUSTAINABLE BUSINESS, DRIVING A GREATER LIKELIHOOD OF SUCCESS. MHUB'S STATE-OF-THE-ART 63,000 SQUARE-FOOT FACILITY FEATURES 10 UNIQUE FABRICATION CENTERS TO MAKE THE PRODUCT DEVELOPMENT CYCLE AS EFFICIENT/SEAMLESS AS POSSIBLE. MHUB PROVIDES RESOURCES FOR PRODUCT DESIGN AND RAPID PROTOTYPING INCLUDING A 3D PRINTING LAB, ELECTRONICS LABS, METAL SHOP AND MORE. 1195588 1633866 ACCELERATED INCUBATION: MHUB'S ACCELERATED INCUBATION PROGRAM IS A SIX-MONTH PROGRAM THAT PAIRS 10 DEMAND-DRIVEN PHYSICAL PRODUCT STARTUPS FROM ACROSS THE COUNTRY WITH CORPORATE LEADERS AND INVESTORS FOR AN INTENSIVE INCUBATION PROGRAM INCLUDING PRODUCT DEVELOPMENT AND PROTOTYPING, MENTORSHIP, BUSINESS CURRICULUM, AND PILOTING. THE STARTUPS WILL FOCUS ON TECHNOLOGY CHALLENGE AREAS DEFINED BY MHUB PARTNERS IN EACH OF THE SECTOR-SPECIFIC PROGRAMS. TO HELP BRIDGE THE GAP TO MARKET, PARTICIPATING PARTNER ENGINEERS AND BUSINESS DEVELOPMENT LEADERS WILL PROVIDE GUIDANCE TO THE STARTUPS, WHO WILL RETAIN ACCESS TO MHUB RESOURCES, PARTNERS AND MENTORS FOR UP TO TWO YEARS. 667008 CATALYZE INITIATIVE: MHUB'S CATALYZE INITIATIVE PROMOTES WEALTH CREATION FOR A MORE DIVERSE SET OF FOUNDERS THROUGH A SERIES OF TARGETED PROGRAMS AND PARTNERSHIPS. BY SUPPORTING UNDERREPRESENTED ENTREPRENEURS IN THE EARLY STAGES OF PRODUCT DEVELOPMENT, CATALYZE SEES THE EVOLUTION OF AN IDEA FROM PROOF OF CONCEPT TO COMMERCIALIZATION. PROGRAMS INCLUDE GRANTED PARTNERSHIPS WITH COMMUNITY-BASED BUSINESS DEVELOPMENT ORGANIZATIONS, THE MPOWER PRE-ACCELERATOR PROGRAM FOR IDEA-STAGE STARTUP FOUNDERS, THE LANDIS FAMILY HARDTECH DEVELOPMENT FELLOWSHIP FOR PRODUCT ENGINEERS AND FOUNDERS, AND GRANTS FOR LATER STAGE R&D AND PRODUCT DEVELOPMENT. 667008 4941932 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 1 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 1 142 0 1 43 1 0 0 0 0 0 1 1 0 0 0 0 0 0 0 X 25 25 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 IL X MANAS MEHANDRU 3122488701 1623 W FULTON ST CHICAGO IL 60612 HAVEN ALLEN CHIEF EXECUTIVE OFFICER & PRESIDENT 40.00 10.00 X X 272543 0 17257 MANAS MEHANDRU CHIEF OPERATING OFFICER & TREASURER 49.00 1.00 X X 223956 0 9548 KEVIN WILLER CHAIRPERSON 0.20 0.20 X X 0 0 0 MEREDITH O'CONNOR VICE CHAIRPERSON 0.20 0.20 X X 0 0 0 LAURA FERRIS ANDERSON BOARD DIRECTOR 0.20 0.00 X 0 0 0 JACOB BABCOCK BOARD DIRECTOR 0.20 0.00 X 0 0 0 JIAN CAO BOARD DIRECTOR 0.20 0.00 X 0 0 0 MEGAN CLIFFORD BOARD DIRECTOR 0.20 0.00 X 0 0 0 EDWARD COLEMAN BOARD DIRECTOR 0.20 0.00 X 0 0 0 MICHON ELLIS BOARD DIRECTOR 0.20 0.00 X 0 0 0 ERIN GUTHRIE BOARD DIRECTOR 0.20 0.00 X 0 0 0 MARK KARASEK BOARD DIRECTOR 0.20 0.00 X 0 0 0 STEVEN KASE BOARD DIRECTOR 0.20 0.00 X 0 0 0 KAREN KERR BOARD DIRECTOR 0.20 0.00 X 0 0 0 STEVE KOCH BOARD DIRECTOR 0.20 0.00 X 0 0 0 USHMA KRIPLANI BOARD DIRECTOR 0.20 0.00 X 0 0 0 JEFF MALEHORN BOARD DIRECTOR 0.20 0.00 X 0 0 0 JEFFREY MARGOLIS BOARD DIRECTOR 0.20 0.00 X 0 0 0 DON MCNEILL BOARD DIRECTOR 0.20 0.00 X 0 0 0 COREY RYAN BOARD DIRECTOR 0.20 0.00 X 0 0 0 THOMAS SIMEONE BOARD DIRECTOR 0.20 0.00 X 0 0 0 NICOLE STEVENSON BOARD DIRECTOR 0.20 0.00 X 0 0 0 NANCY SULLIVAN BOARD DIRECTOR 0.20 0.00 X 0 0 0 MARK TEBBE BOARD DIRECTOR 0.20 0.00 X 0 0 0 GARTH WALKER BOARD DIRECTOR 0.20 0.00 X 0 0 0 ROBERT WEISSBOURD BOARD DIRECTOR 0.20 0.00 X 0 0 0 NICOLE WOLTER BOARD DIRECTOR 0.20 0.00 X 0 0 0 MELISSA LEDERER CHIEF EXPERIENCE OFFICER & SECRETARY 45.00 5.00 X 217319 0 14330 WILLIAM FIENUP VP OF INNOVATION SERVICES & VICE PRESIDENT 40.00 0.20 X 174388 0 6713 THIERRY VAN LANDEGEM EXECUTIVE DIRECTOR 40.00 0.00 X 175630 0 4457 ALLISON WINSTEL CHIEF OF STAFF 40.00 0.00 X 140087 0 7265 SHANNON MCGHEE VP OF PROGRAMS AND ENGAGEMENT 40.00 0.00 X 122192 0 5653 BINYOMIN BERLIN DIRECTOR OF CORPORATE PARTNERSHIPS 40.00 0.00 X 119293 0 0 1445408 0 65223 8 0 1 0 ZLEVOR DESIGN LLC 724 SHERWOOD AVE LA GRANGE PARK IL 60526 PRODUCT DEVELOPMENT CONTRACTOR 492196 MP CONSULTING LLC 900 W BENJAMIN AVE SPRING GROVE IL 60081 PRODUCT DEVELOPMENT CONTRACTOR 403800 2 47600 11163064 1377924 2726 12588588 PRODUCT DEVELOPMENT SERVICES 900099 2156025 2156025 MEMBERSHIP ASSESSMENTS 900099 2137379 2137379 AI PROGRAM REVENUE 900099 1633866 1633866 5927270 201197 201197 73797 0 73797 73797 73797 23236 47600 70098 -46862 -46862 1612 4390 -2778 -2778 SPECIALTY TRAINING & EQUIPMENT 900099 24717 24717 CREDIT CARD FEE REVENUE 900099 22268 22268 OTHER REVENUE 900099 20232 20232 67217 18808429 6025784 0 194057 X 936054 395819 467833 72402 2516318 1262781 1160984 92553 69790 34048 32455 3287 139560 68085 64902 6573 241883 117133 113278 11472 84753 84753 2055313 1882067 171517 1729 256631 88386 168245 167716 45284 120995 1437 1368498 618346 681168 68984 131259 31197 10032 90030 525625 525625 239382 93109 146273 115249 115249 PROGRAM SUPPLIES 305641 305641 SUBSCRIPTIONS AND DUES 28988 36 28952 ALL OTHER EXPENSES 12377 12377 9195037 4941932 3904638 348467 764088 1585938 1190018 885579 237842 324585 28256406 133768 43894 1731918 551178 699055 1180740 817960 17704947 3842731 49982089 1170616 1451143 219379 413547 2162713 17024382 800135 21989737 4352843 40878809 X -2384408 7802920 1874296 1300360 -510112 9103280 3842731 49982089 9613392 0 X X 0 1 X 1 1 1 X 1064142 2867864 2330014 4314142 12588588 23164750 3187435 3060497 4447277 4906459 5951987 21553655 1612 1612 4251577 5928361 6777291 9220601 18542187 44720017 44000 30000 21550 95550 0 44000 30000 21550 95550 44624467 18871 274994 293865 18871 274994 293865 3795 40745 65736 110276 4251577 5928361 6781086 9280217 18882917 45124158 0.98890 0.99160 0.00650 0.00440 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 644424 535696 108728 1087494 15482 1072012 1180740 INTERCOMPANY RECEIVABLES 346237 GRANTS RECEIVABLE 583075 RIGHT-OF-USE OPERATING LEASE ASSETS 16775635 17704947 COMMITMENT 409989 OPERATING LEASE LIABILITY 21230532 GRANT ADVANCES 349216 21989737 20924587 705767 1410391 2116158 18808429 0 18808429 11311195 705767 1410391 2116158 9195037 0 9195037 PART XI, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 70,098. ELIMINATING ENTRIES 1,335,903. COST OF GOODS SOLD 4,390. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 70,098. ELIMINATING ENTRIES 1,335,903. COST OF GOODS SOLD 4,390. FOURTH REVOLUTION AWARDS 66975 47600 19375 540 36116 4250 12694 COMMUNITY BBQ 3861 3861 6984 4000 5514 70836 47600 23236 540 43100 8250 18208 70098 -46862 X X X 0 0 0 0 0 0 0 1 0 HAVEN ALLEN CHIEF EXECUTIVE OFFICER & PRESIDENT 272543 0 0 0 0 0 9800 0 7457 0 289800 0 0 0 MANAS MEHANDRU CHIEF OPERATING OFFICER & TREASURER 223956 0 0 0 0 0 7896 0 1652 0 233504 0 0 0 MELISSA LEDERER CHIEF EXPERIENCE OFFICER & SECRETARY 217319 0 0 0 0 0 7834 0 6496 0 231649 0 0 0 WILLIAM FIENUP VP OF INNOVATION SERVICES & VICE PRE 174388 0 0 0 0 0 6124 0 589 0 181101 0 0 0 THIERRY VAN LANDEGEM EXECUTIVE DIRECTOR 175630 0 0 0 0 0 0 0 4457 0 180087 0 0 0 PART I, LINE 7 BONUSES ARE PAID DURING THE YEAR AT THE DISCRETION OF MANAGEMENT AND BOARD APPROVAL. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY A CPA FIRM BASED ON INFORMATION PROVIDED BY MANAGEMENT. IT IS THEN REVIEWED BY THE FINANCE COMMITTEE AND MANAGEMENT. THE FINANCE COMMITTEE ACCEPTS FORM 990 PRIOR TO IT BEING FILED. THE FINANCE COMMITTEE ALSO REVIEWS AND ACCEPTS THE ORGANIZATION'S AUDITED FINANCIAL STATEMENTS. THE FINAL, SIGNED FORM 990 IS PROVIDED TO THE ORGANIZATION'S BOARD MEMBERS PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST POLICY STATEMENTS ARE SIGNED BY MHUB DIRECTORS AND OFFICERS INDICATING THAT HE OR SHE HAS RECEIVED, READ AND AGREES TO COMPLY WITH THE POLICY. MHUB DIRECTORS AND OFFICERS ALSO COMPLETE AN ANNUAL DISCLOSURE QUESTIONNAIRE. SUCH AS, DISCLOSING ANY POTENTIAL CONFLICTS OF INTEREST AND LISTING ALL BUSINESSES, CHARITABLE ORGANIZATIONS, FIRMS AND OTHER ENTITIES TO WHICH THEY HAVE A SUBSTANTIAL CONNECTION. IN THE EVENT A POTENTIAL CONFLICT IS DETERMINED, THE CONFLICT IS REVIEWED BY THE CHAIRPERSON OF THE BOARD OF DIRECTORS AND THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS. THE FINAL DETERMINATION ABOUT ACTUAL OR POTENTIAL CONFLICTS OF INTEREST IS MADE BY THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 15A THE EMPLOYMENT AND COMPENSATION COMMITTEE IS AN INDEPENDENT COMMITTEE COMPRISED OF MEMBERS OF BOARD OF THE DIRECTORS. THE COMMITTEE IS COMPRISED OF INDIVIDUALS UNRELATED TO AND NOT SUBJECT TO THE CONTROL OF MANAGEMENT. THE COMMITTEE MEMBERS DO NOT RECEIVE COMPENSATION. THE COMMITTEE PERFORMS A COMPETITIVE COMPENSATION ANALYSIS ON AN ANNUAL BASIS FOR THE ORGANIZATION'S EXECUTIVE DIRECTOR, OFFICERS AND KEY EMPLOYEES. THE COMMITTEE COLLECTS DATA OF COMPARABLE POSITIONS AT PEER ORGANIZATIONS. THE COMMITTEE MAINTAINS ADEQUATE AND CONTEMPORANEOUS DOCUMENTATION OF ITS COMPENSATION PROCEDURES. THE COMMITTEE'S DELIBERATIONS AND ITS CONCLUSIONS ARE RECORDED IN WRITING PRIOR TO THE DATE COMPENSATION CHANGES ARE INSTITUTED. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART IX, LINE 11G PRODUCT DEVELOPMENT: PROGRAM SERVICE EXPENSES 1,074,789. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,074,789. OTHER PROFESSIONAL SERVICES: PROGRAM SERVICE EXPENSES 807,278. MANAGEMENT AND GENERAL EXPENSES 171,517. FUNDRAISING EXPENSES 1,729. TOTAL EXPENSES 980,524. FORM 990, PART XII, LINE 2C PROCESS HAS NOT CHANGED FROM PRIOR YEAR MHUB ACCELERATED INCUBATION LLC 1623 W FULTON ST CHICAGO IL 60612 832489215 ACCELERATE THE GROWTH OF NEW HARDTECH BUSINESSES DE 1198033 447842 MHUB MHUB PRODUCT IMPACT FUND I UGP LLC 1623 W FULTON ST CHICAGO IL 60612 844529856 IMPACT INVESTMENTS DE 0 0 MHUB MHUB PRODUCT IMPACT FUND I GP LP 1623 W FULTON ST CHICAGO IL 60612 844556318 IMPACT INVESTMENTS DE 0 0 MHUB MHUB TECHNOLOGIES LLC 1623 W FULTON ST CHICAGO IL 60612 833961490 HOLDING COMPANY IL 0 0 MHUB MHUB SUPPORT CORPORATION 1623 W FULTON ST CHICAGO IL 60612 884394299 ORGANIZED AND OPERATES AT ALL TIMES EXCLUSIVELY FOR THE BENEFIT OF MHUB IL 501(C)(3) LINE 12A, I MHUB 1 MHUB PRODUCT IMPACT FUND I LP 1623 W FULTON ST CHICAGO IL 60612 844521111 INVESTMENTS DE N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 1 0 MHUB SUPPORT CORPORATION P 359644 FMV MHUB SUPPORT CORPORATION S 4600000 FMV