Applicant Details & Scoring

ARC State Program Manager Comments

Back to List of Applicants

APPLICANT

BRITE Energy Innovators (legal name Tech Belt Energy Innovation Center)

Total Qualifying Score: 9
County (ARC Region): Yes
State (ARC Region): Yes
Q3. IRS Status: Nonprofit – 2
Q4. Parent Entity: No – 1
Q5. 2 or More Full-Time Employees : Yes (as of 12/31/2019)
Q7. Budget Level: $250,001 to $1.5 million – 5 (Last Fiscal Year Actual Income)
Q8. Restricted Reserves: No – 1
Q9. CARES Act Funding: Yes – 0
Q13. Participation by Executive: Yes


CONTACT & LOCATION INFORMATION

BRITE Energy Innovators (legal name Tech Belt Energy Innovation Center)
Warren, Trumbull County, Ohio 44481
330-727-9120
Email
www

County (ARC Region) Trumbull
State (ARC Region) Ohio


ORGANIZATIONAL & FINANCIAL INFORMATION

Q1. Mission:

Empowering founders to launch energy technology solutions.

Q2. How organization aligns with ARC’s Plan & Goals:

BRITE aligns with the Appalachian Regional Commission’s goals in the following ways:

First, as an incubator, we invest in entrepreneurial and business development strategies that strengthen Appalachia’s economy. Our portfolio fluctuates with 15-20 high-growth startups that are served with in-depth service along with an additional 40-70 startups that are assessed annually. Second, as the fiber hub for Trumbull County, we are home to Internet infrastructure for businesses of the area and provide fast Internet to our tenants and others that utilize our facility. Third, we strengthen Appalachia’s community and economic development by providing place-based community and economic development on a main street and leverage the region’s strength in energy storage assets (natural gas, coal, research partners, etc) to accelerate the commercialization of new technologies. Lastly, we make every effort to hire and provide professional development opportunities to talented young professionals in our community.

Q3. IRS Filing Status: 501(c)(3)   

Q4. Unit or Chapter of Larger Organization: No

Q5. Employees:

Full-Time/Part-Time Employees: 5/8 (as of 9/1/2020)

Full-Time/Part-Time Employees: 2/2 (as of 12/31/2019)

Current Year Income/Expenses: $1605578/$1545529

Q6. Fiscal Year: Calendar

Q7. Budget Level

Last Fiscal Year Income/Expenses (Actual): $996287.76 / $913871.00

Current Year Income/Expenses (Projected): $1605578 / $1545529

Balance Sheet

Q8. Restricted Reserves (Amount): No ($)

Q9. CARES Act Funding (Amount): Yes ($45,700)
Received From: PPP Loan through Cortland Bank   Date Received: mid-April, 2020
For What Purpose(s):

Q10. Negative Impacts from COVID-19:

In many ways, COVID-19 has had a positive impact in that more founders have the time to work on their startups, resulting in our deal-flow of onboarding new companies accelerate from one a week to four a week. Therefore, we have overwhelming demand for services and staff is further stretched. Organizationally, COVID-19 ended traditional fundraising through events, resulting in an expected loss of $115,000 that is needed for non-reimbursable staff time and other operational needs like accounting, utilities and equipment. The organization has also lost rental revenue because it forgave rent for three months for tenants and has lost tenants who didn’t survive the pandemic. 

Q11. Top Three Concerns:
cash-on hand and the need for fundraising strategies to ensure unencumbered cash is available; fundraising this year derailed
uptick in demand for services and not having resources to add staff
updating facility to meet new demands of business climate and social distancing

How Participation in Program Will Address Concerns:

This program will assist in identifying best practices and new ways of fundraising and addressing operational concerns. The organization has evolved a lot in the past year by adding staff and securing funding to grow, however its ability to access unencumbered funding has been stalled by the pandemic. The organization is undergoing strategic planning across its service areas to build sustainability and resiliency. 


COHORT INSTRUCTION

Q12. Applying as a Proposed Cohort? No

Q13. Executive Director or CEO Will Participate in the Program? Yes

Q14. Top Two Choices for Cohort Instruction:

Course #1 Choice: 1-Fundraising

Course #2 Choice: 2-Mission & Operations

Q15. Desired Course Schedule for Cohort Instruction:

#1 Desired Course Schedule: 1-Fall 2020: 6-Week Course (Nov. 9, 2020 – Dec. 18, 2020)

#2 Desired Course Schedule: 2-Fall 2020: 11-Week Course (Nov. 9, 2020 -Jan. 24, 2021)


APPLICATION SUBMITED BY:

Name: Sara Daugherty Daugherty, Director of Operations

Application Approved by Organization Director or CEO? Yes, Approved by Executive Director/CEO

ARC State Program Managers Review
ARC State Program Managers: Please use the form below to submit your comments regarding this applicant.
(This is a read-only field displaying the name of the applicant organization you are reviewing)
(Select your name from the drop-down field above)