Supporting a Start-Up: CLA + the MKE Tech Hub Coalition
“CLA has been a true teammate through the creation of the MKE Tech Hub Coalition nonprofit. Through outsourcing our accounting, payroll, and financial services, we gained the confidence of investors and state agencies and showed immediate impact on our mission.” – Kathy Heinrich, CEO, MKE Tech Hub Coalition
Background
MKE TECH – MKE Tech Hub Coalition is a new nonprofit with the mission of inclusively doubling tech talent in the Milwaukee region, with the goal of creating enduring economic prosperity as well as strong, stable jobs for individuals. Through the contributions of six founding partners, MKE Tech Hub Coalition was established in the fourth quarter of 2019. Right away, the team started developing accounting processes, financial reporting, and bylaws while brainstorming and developing programs for impact.
The Startup Journey
Establishing MKE Tech wasn’t simple. To comply with donor restrictions and fundraising guidelines, the team needed to apply for both 501c3 and 501c6 status. Payroll processes needed to be established, including the creation of new benefit program. This kind of work alone could exclusively occupy the first year of an organization’s life. CLA came alongside MKE Tech Hub Coalition so that they could simultaneously launch an early stage startup incubator and also respond to the pandemic with a summer virtual internship program, emergency equipment deployment, etc. Because MKE Tech Hub Coalition was able to hit the ground running so quickly, they were able to apply for their first state grant in the first year of operation.
Achieving results
During MKE Tech Hub Coalition’s first year, they received multiple awards for both their programs and organization. Their early stage incubator has now served over 200 founders with 80 new firms being created. The summer pre-internship program also has served over 200 students in the first two years, including certifications in data credentials. They were able to secure more than $600K in state grants in their first year. During this time, they grew from six members to over 115. More results can be seen in their 2021 Impact Report. MKE Tech Hub Coalition was freed to focus wholeheartedly on their mission while CLA managed the administration of the organization.
How we can help
Starting up a new organization, or unsure where to start? CLA works with nonprofits of all sizes – and would love to come alongside you in your startup or scale-up process.
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