2025-11-17T11:43:51-06:00 2024-12-31 331498605 PLANTE & MORAN PLLC 10 S RIVERSIDE PLAZA 9TH FLOOR CHICAGO IL 60606 990 2024-01-01 463388438 MHUB MHUB 3122488701 1623 W FULTON ST CHICAGO IL 60612 HAVEN ALLEN CHIEF EXECUTIVE OFFICER 3122488701 2025-11-17 1 1 JESSICA TOADER P01464604 3122071040 2025-11-17 2024 2025-03-06 01:10:19Z HAVEN ALLEN 1623 W FULTON ST CHICAGO IL 60612 9698258 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 41 0 0 0 12588588 2756271 5927270 6292497 201197 282564 91374 289995 18808429 9621327 0 0 0 0 3903605 4046695 0 0 1225888 5291432 6821482 9195037 10868177 9613392 -1246850 49982089 49516193 40878809 41659763 9103280 7856430 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 2105037 2500511 HARDTECH DEVELOPMENT SERVICES (MHUB HD): MHUB HD 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. 2296061 2689356 INNOVATION CENTER: A SHARED WORKSPACE COMMUNITY, WITHIN MHUB, OF PRODUCT DESIGNERS, DEVELOPERS, ENTRENEURS, 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 INNOATIONS 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. 1199735 1435121 MHUB ACCELERATOR: MHUB'S ACCELERATOR PROGRAM IS A SIX-MONTH PROGRAM THAT PAIRS 8 - 10 DEMAND-DRIVEN PHYSICAL PRODUCT STARTUPS FROM ACROSS THE COUNTRY WITH CORPORATE LEADERS AND INVESTORS FOR AN INTENSIVE ACCELERATOR 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. 673669 CATALYZE INITIATIVE: MHUB'S CATALYZE INITIATIVE PROMOTES WEALTH CREATION FOR A BROADER SET OF FOUNDERS THROUGH A SERIES OF TARGETED PROGRAMS AND PARTNERSHIPS. BY SUPPORTING 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. 673669 6274502 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 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 1 111 0 1 41 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 MEREDITH O'CONNOR CHAIRPERSON 0.20 0.20 X X 0 0 0 KEVIN WILLER BOARD DIRECTOR 0.20 0.20 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 TRAVIS HUNTER 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 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 SHELLI NELSON 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 JESSICA STRAUSBAUGH BOARD DIRECTOR 0.20 0.00 X 0 0 0 NANCY SULLIVAN BOARD DIRECTOR 0.20 0.00 X 0 0 0 BOB WEISSBOURD BOARD DIRECTOR 0.20 0.00 X 0 0 0 GARTH WALKER BOARD DIRECTOR 0.20 0.00 X 0 0 0 NICOLE WOLTER BOARD DIRECTOR 0.20 0.00 X 0 0 0 HAVEN ALLEN CHIEF EXECUTIVE OFFICER & PRESIDENT 40.00 10.00 X 518833 0 34688 MANAS MEHANDRU CHIEF OPERATING OFFICER & TREASURER 49.00 1.00 X 361768 0 34251 MELISSA LEDERER CHIEF EXPERIENCE OFFICER & SECRETARY 45.00 5.00 X 290902 0 33616 WILLIAM FIENUP VP OF INNOVATION SERVICES & VICE PRESIDENT 40.00 0.20 X 177821 0 6244 THIERRY VAN LANDEGEM EXECUTIVE DIRECTOR 40.00 0.00 X 185484 0 14603 ALLISON WINSTEL CHIEF OF STAFF 40.00 0.00 X 156934 0 11403 SHANNON MCGHEE VP OF PROGRAMS AND ENGAGEMENT 40.00 0.00 X 130777 0 19505 KIMBERLY BLOMQUIST SENIOR DIRECTOR OR MARKETING AND COMMUNICATIONS 40.00 0.00 X 135312 0 3555 ELIZABETH ANDREWS DIRECTOR OF STRATEGIC PARTNERSHIPS 40.00 0.00 X 121053 0 12768 2078884 0 170633 11 0 1 0 RAINBOW CLEANING SPECIALIST INC 106 STEPHEN ST STE 103 LEMONT IL 60439 JANITORIAL SERVICES 188531 ZLEVOR DESIGN LLC 724 SHERWOOD AVE LA GRANGE PARK IL 60526 PRODUCT DEVELOPMENT CONTRACTOR 170764 MP CONSULTING LLC 900 W BENJAMIN AVE SPRING GROVE IL 60081 PRODUCT DEVELOPMENT CONTRACTOR 138650 BYTE WORD LLC 1570 TARPON STREET MERRITT ISLAND FL 32952 PRODUCT DEVELOPMENT CONTRACTOR 119549 SKATE KASTLE LLC 1623 W FULTON STREET CHICAGO IL 60612 PRODUCT DEVELOPMENT CONTRACTOR 113220 5 69000 1024121 1663150 2756271 MEMBERSHIP ASSESSMENTS 900099 2689357 2689357 PRODUCT DEVELOPMENT SE 900099 2500511 2500511 AI PROGRAM REVENUE 900099 1102629 1102629 6292497 282564 282564 201832 0 201832 201832 201832 48051 69000 73546 -25495 -25495 1384 3385 -2001 -2001 SPECIALTY TRAINING & E 900099 66645 66645 CREDIT CARD FEE REVENU 900099 35917 35917 OTHER REVENUE 900099 13097 13097 115659 9621327 6560974 0 304082 X 1477705 624921 738557 114227 2029644 1164201 773770 91673 82749 39805 37798 5146 187226 90063 85520 11643 269371 136945 116557 15869 148600 148600 2733353 2620549 64683 48121 200938 200938 178724 64983 111273 2468 2504853 1252303 371787 880763 80177 12677 11522 55978 508069 508069 254634 136684 117950 43696 43696 PROGRAM SUPPLIES 115336 115336 SUBSCRIPTIONS AND DUES 41012 3945 37067 BAD DEBTS 12090 12090 10868177 6274502 3367787 1225888 1585938 789374 885579 485869 324585 1524068 28256406 28256406 43894 37149 2451300 687864 1180740 1763436 17704947 16659891 49982089 49516193 1451143 1863897 413547 495142 17024382 1015864 21989737 38284860 40878809 41659763 X 7802920 6979816 1300360 876614 9103280 7856430 49982089 49516193 -1246850 0 X 0 1 X 1 1 1 X 2867864 2330014 4314142 12588588 2741271 24841879 3060497 4447277 4906459 5951987 6364142 24730362 1612 1384 2996 5928361 6777291 9220601 18542187 9106797 49575237 44000 30000 21550 15550 111100 0 44000 30000 21550 15550 111100 49464137 18871 274994 494396 788261 18871 274994 494396 788261 3795 40745 65736 97065 207341 5928361 6781086 9280217 18882917 9698258 50570839 0.97810 0.98890 0.01560 0.00650 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 824357 58698 765659 1209665 615792 593873 417278 13374 403904 1763436 GRANTS RECEIVABLE 290972 RIGHT-OF-USE OPERATING LEASE ASSETS 16368919 16659891 COMMITMENT 408438 OPERATING LEASE LIABILITY 20700585 GRANT ADVANCES 344359 INTERCOMPANY PAYABLE 16831478 38284860 10994445 541713 831405 1373118 9621327 0 9621327 12241295 541713 831405 1373118 10868177 0 10868177 PART XI, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 73,546. ELIMINATING ENTRIES 754,474. COST OF GOODS SOLD 3,385. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 73,546. ELIMINATING ENTRIES 754,474. COST OF GOODS SOLD 3,385. FOURTH REVOLUTION AWARDS 107713 69000 38713 39757 5125 12705 COMMUNITY BBQ 9338 9338 4208 5626 6125 117051 69000 48051 43965 10751 18830 73546 -25495 X X X X 0 0 0 0 0 0 0 1 0 HAVEN ALLEN CHIEF EXECUTIVE OFFICER & PRESIDENT 290456 0 217877 0 10500 0 11500 0 23188 0 553521 0 0 0 MANAS MEHANDRU CHIEF OPERATING OFFICER & TREASURER 232350 0 113939 0 15479 0 11500 0 22751 0 396019 0 0 0 MELISSA LEDERER CHIEF EXPERIENCE OFFICER & SECRETARY 218452 0 66073 0 6377 0 10428 0 23188 0 324518 0 0 0 THIERRY VAN LANDEGEM EXECUTIVE DIRECTOR 175484 0 10000 0 0 0 0 0 14603 0 200087 0 0 0 WILLIAM FIENUP VP OF INNOVATION SERVICES & VICE PRE 174408 0 3413 0 0 0 6244 0 0 0 184065 0 0 0 ALLISON WINSTEL CHIEF OF STAFF 135930 0 20191 0 813 0 5449 0 5954 0 168337 0 0 0 SHANNON MCGHEE VP OF PROGRAMS AND ENGAGEMENT 126712 0 4065 0 0 0 4063 0 15442 0 150282 0 0 0 PART I, LINE 7 BONUS ARE BASED ON PERFORMANCE AND THE FINANCIAL RESULTS OF THE ORGANIZATION AND 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 1,643,060. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,643,060. OTHER PROFESSIONAL SERVICES: PROGRAM SERVICE EXPENSES 977,489. MANAGEMENT AND GENERAL EXPENSES 64,683. FUNDRAISING EXPENSES 48,121. TOTAL EXPENSES 1,090,293. MHUB ACCELERATED INCUBATION LLC 1623 W FULTON ST CHICAGO IL 60612 832489215 ACCELERATE THE GROWTH OF NEW HARDTECH BUSINESSES DE 635100 276817 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 0 0 MHUB SUPPORT CORPORATION P 1716492 FMV