Civic Intelligence

Vertuelab

EIN 26-1652936 • 501(c)3 • Portland, OR

View Organization Page

Profile

To unleash innovation and entrepreneurship that will solve environmental challenges and catalyze shared economic prosperity. Provide funding and holistic entrepreneurial support to cleantech startups.

PO Box 212Portland, OR 97207

vertuelab.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

83rd percentile

0.59x

Higher debt load relative to assets than 83% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

91st percentile

2.04x

Higher debt load relative to revenue than 91% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Net Margin

6th percentile

-55%

Higher net margin than 6% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

73rd percentile

15%

Faster asset growth than 73% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2024

Revenue Growth

21st percentile

-9.3%

Faster revenue growth than 21% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2024

Balance Sheet
Liabilities / Assets83rd percentile

Assets

Down

$5,987,072

Down $1,158,262 (-16%) from 2023

Liabilities

Down

$3,540,384

Down $330,722 (-8.5%) from 2023

Net Assets

Down

$2,446,688

Down $827,540 (-25%) from 2023

Operations
Liabilities / Revenue91st percentileNet Margin6th percentile

Revenue

Down

$1,737,181

Down $478,198 (-22%) from 2023

Expenses

Down

$2,695,497

Down $368,989 (-12%) from 2023

Net Income

Down

-$958,316

Down $109,209 (-13%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth73rd percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$8.0M$6.0M$4.0M$2.0M$0Assets 2010: $1,143,105Liabilities 2010: $47,746Net Assets 2010: $1,095,3592010Assets 2011: $1,202,154Liabilities 2011: $441,017Net Assets 2011: $761,1372011Assets 2012: $1,570,539Liabilities 2012: $636,152Net Assets 2012: $934,3872012Assets 2013: $1,197,618Liabilities 2013: $449,456Net Assets 2013: $748,1622013Assets 2014: $1,729,088Liabilities 2014: $493,352Net Assets 2014: $1,235,7362014Assets 2015: $2,046,501Liabilities 2015: $564,462Net Assets 2015: $1,482,0392015Assets 2016: $2,222,954Liabilities 2016: $485,297Net Assets 2016: $1,737,6572016Assets 2017: $2,627,658Liabilities 2017: $689,777Net Assets 2017: $1,937,8812017Assets 2019: $1,965,082Liabilities 2019: $289,619Net Assets 2019: $1,675,4632019Assets 2020: $2,547,836Liabilities 2020: $248,940Net Assets 2020: $2,298,8962020Assets 2021: $3,945,647Liabilities 2021: $829,563Net Assets 2021: $3,116,0842021Assets 2022: $6,880,373Liabilities 2022: $2,745,298Net Assets 2022: $4,135,0752022Assets 2023: $7,145,334Liabilities 2023: $3,871,106Net Assets 2023: $3,274,2282023Assets 2024: $5,987,072Liabilities 2024: $3,540,384Net Assets 2024: $2,446,6882024

Highlighted filing

2024

Assets$5,987,072
Liabilities$3,540,384
Net Assets$2,446,688
Open 2024 Filing

Operations Trend

Revenue Growth21st percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$4.0M$2.0M$0-$2.0MExpenses 2010: $579,4002010Expenses 2011: $1,908,8052011Expenses 2012: $1,778,2692012Expenses 2013: $2,229,0562013Revenue 2014: $3,477,433Expenses 2014: $2,989,859Net Income 2014: $487,5742014Revenue 2015: $3,333,974Expenses 2015: $3,087,671Net Income 2015: $246,3032015Revenue 2016: $3,444,384Expenses 2016: $3,188,766Net Income 2016: $255,6182016Revenue 2017: $3,468,768Expenses 2017: $3,268,544Net Income 2017: $200,2242017Revenue 2019: $1,717,887Expenses 2019: $1,661,452Net Income 2019: $56,4352019Revenue 2020: $2,374,129Expenses 2020: $1,750,696Net Income 2020: $623,4332020Revenue 2021: $2,326,583Expenses 2021: $1,509,395Net Income 2021: $817,1882021Revenue 2022: $2,827,087Expenses 2022: $1,883,081Net Income 2022: $944,0062022Revenue 2023: $2,215,379Expenses 2023: $3,064,486Net Income 2023: -$849,1072023Revenue 2024: $1,737,181Expenses 2024: $2,695,497Net Income 2024: -$958,3162024

Highlighted filing

2024

Revenue$1,737,181
Expenses$2,695,497
Net Income-$958,316
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$5,987,072
Liabilities
$3,540,384
Net assets
$2,446,688
Revenue
$1,737,181
Expenses
$2,695,497
Net income
-$958,316
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$5.99$3.54$2.45$1.74$2.70$0.96
2023Detailed filing. Detailed filing data is available for this year.$7.15$3.87$3.27$2.22$3.06$0.85
2022Detailed filing. Detailed filing data is available for this year.$6.88$2.75$4.14$2.83$1.88$0.94
2021Detailed filing. Detailed filing data is available for this year.$3.95$0.83$3.12$2.33$1.51$0.82
2020Detailed filing. Detailed filing data is available for this year.$2.55$0.25$2.30$2.37$1.75$0.62
2019Detailed filing. Detailed filing data is available for this year.$1.97$0.29$1.68$1.72$1.66$0.06
2017Detailed filing. Detailed filing data is available for this year.$2.63$0.69$1.94$3.47$3.27$0.20
2016Detailed filing. Detailed filing data is available for this year.$2.22$0.49$1.74$3.44$3.19$0.26
2015Detailed filing. Detailed filing data is available for this year.$2.05$0.56$1.48$3.33$3.09$0.25
2014Detailed filing. Detailed filing data is available for this year.$1.73$0.49$1.24$3.48$2.99$0.49
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.20$0.45$0.75$2.23
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.57$0.64$0.93$1.78
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.20$0.44$0.76$1.91
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.14$0.05$1.10$0.58
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 12, 2025
Return Version
2023v6.0
Gross Receipts
$1,737,181
Mission and Program Overview

Mission

Create economic growth and environmental protection through funding and support for clean technology researchers and startups. Support the innovation and cleantech ecosystems.

To unleash innovation and entrepreneurship that will solve environmental challenges and catalyze shared economic prosperity. Provide funding and holistic entrepreneurial support to cleantech startups.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Program Related$2,713,254$2,983,335▲ $270,081
Savings and Temporary Cash Investments-$2,396,901-
Cash and Non-Interest-Bearing Accounts$4,079,644$363,426▼ $3,716,218
Pledges and Grants Receivable$343,824$243,396▼ $100,428
Prepaid Expenses and Deferred Charges$8,606$0▼ $8,606
Other Notes and Loans Receivable, Net$6$14▲ $8
Accounts Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$7,145,334$5,987,072▼ $1,158,262
Other Assets Total-$0-
Liabilities
Unsecured Notes Loans Payable$3,546,943$3,195,000▼ $351,943
Accounts Payable and Accrued Expenses$312,663$197,166▼ $115,497
Deferred Revenue$11,500$148,218▲ $136,718
Total Liabilities$3,871,106$3,540,384▼ $330,722
Net Assets / Fund Balance
Net Assets With Donor Restrictions$1,592,750$1,459,408▼ $133,342
Net Assets Without Donor Restrictions$1,681,478$987,280▼ $694,198
Total Net Assets Fund Balance$3,274,228$2,446,688▼ $827,540
Total Liabilities and Net Assets / Fund Balance$7,145,334$5,987,072▼ $1,158,262
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleFull / Part TimeBaseOtherTotal
Ken VaughnDirector Impact InvestFT$150,338-$150,338
Aina AbiodunExecutive DirectorFT$143,333$3,685$147,018
Juan BarrazaDirector Innov & EntrFT$134,330$9,334$143,664
Felicia KangDirector Finance & OperFT$107,890$10,633$118,523
David KenneyPast Exec DirectorFT$74,392$2,338$76,730

Board Members and Trustees

NameTitle
Heather AndersenChair
Allison ArnoldDirector
Carol DahlDirector
Jeff CaninDirector
Kelly LyonsDirector
Lem WhiteDirector
Miguel SossaDirector
Rachel Jagoda-brunetteDirector
Joseph ConnorsSecretary/Treas
Revenue and Support

Revenue Composition

Contributions and Grants
$1,686,553
Program Service Revenue
$30,552
Investment Income
$20,076
Other Revenue
$0
All Other Contributions
$658,612
Change in Net Assets
$-958,316

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,737,181
Revenue Not Reported on Form 990
$135,776
Total Revenue per Audited Statements
$1,872,957
Total Revenue per Form 990
$1,737,181
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,510,717
Other Expenses$774,192
Grants and Similar Amounts Paid$410,588
Total Fundraising Expense$265,780
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$807,685$195,734$125,702$1,129,121
Grants to Domestic Orgs$391,588--$391,588
Fees for Services Other$217,704$19,366$31,067$268,137
Current Officers, Directors, Trustees, and Key Employees$138,466$36,672$21,592$196,730
Payroll Taxes$76,787$20,336$11,975$109,098
Fees for Services Lobbying--$55,000$55,000
Travel$42,371$3,856$2,749$48,976
Other Employee Benefits$33,617$8,903$5,242$47,762
Conferences and Meetings$45,309$1,521-$46,830
Pension Plan Contributions$19,712$5,220$3,074$28,006
Other Expenses$43,810$22,500$6,675$22,500
Advertising$18,338$1,746$1,125$21,209
Grants to Domestic Individuals$19,000--$19,000
Fees for Services Legal$5,571--$5,571
Total Functional Expenses$2,104,295$325,422$265,780$2,695,497

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$2,700,497
Expenses per Audited Statements$2,695,497
Total Expenses per Form 990$2,695,497
Expenses Not Reported on Form 990$5,000
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Latino FoundersPortland, OR501(c)(3)-$180,000
Washington Clean Energy TestbSeattle, WA--$113,988
Clean Tech AllianceSeattle, WA501(c)(6)Fiscal Sponsorship$97,600
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

“Some of vertuelab's board members may have business dealings with one another.”

Form 990, Part VI, Section B, Line 11B

“The form 990 is reviewed by the executive director and the executive committee of the board, and made available to entire board to review prior to filing.”

Form 990, Part VI, Section B, Line 12C

“Board members receive a copy of the conflict of interest policy at the beginning of their term. The policy requires them to disclose any conflict of interest. Board members complete an annual disclosure form that lists employer and any known conflicts. Board meeting agendas include a note reminding board members to disclose potential conflicts”

Form 990, Part VI, Section B, Line 15B

“The board reviews compensation of executive director and seeks comparability data.”

Form 990, Part VI, Section C, Line 19

“Reasonable requests for financial statements and governing documents are furnished upon request at the offices of vertuelab.”

Filing and Contact Details

Filer

Filer Name
VertueLab
EIN
26-1652936
Phone
9717702378
Address
PO Box 212, Portland, OR 97207

Signing Officer

Name
Aina Abiodun
Title
Executive Director
Signed
2025-05-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Aina Abiodun
Formed
2007
Legal Domicile
Or
Voting Board Members
10
Independent Board Members
10
Employees
13
Volunteers
18

Preparer

Firm
Kern & Thompson LLC
Address
1800 SW FIRST AVE STE 410, PORTLAND, OR 97201
Preparer
Kristin L Brooks CPA
Phone
5032223338
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 4D

“Other program services 4: fuel- as part of its broader environmental and social impact efforts, the organization also hosts fuel, an annual summit that convenes climate-focused leaders, innovators, entrepreneurs, and investors. Fuel provides a platform to catalyze solutions to the climate crisis and foster cross-sector collaboration, while also advancing conversations around inclusive innovation, capital access, and systems-level change in the climate tech space.”

Raw XML AppendixShowing 400 of 618 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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