Civic Intelligence

Oregon Built Environment & Sustainable Technologies Center Inc

990 • Fiscal year 2020 • EIN 26-1652936

Jul 01, 2019 to Jun 30, 2020 • Filed on May 12, 2021

Organization ProfileVERTUELAB.ORG

View Organization Page

PO Box 212Portland, OR 97207

(971) 770-2378

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

50th percentile

0.10x

Higher debt load relative to assets than 50% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

44th percentile

0.10x

Higher debt load relative to revenue than 44% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

79th percentile

26%

Higher net margin than 79% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

92nd percentile

$225,506

Higher top officer pay than 92% of similar nonprofits.

Top officer pay equals 9.5% of source-year revenue.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

78th percentile

30%

Faster asset growth than 78% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

84th percentile

38%

Faster revenue growth than 84% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets50th percentile

Assets

Up

$2,547,836

Up $582,754 (+30%) from 2019

Net Assets

Up

$2,298,896

Up $623,433 (+37%) from 2019

Liabilities

Down

$248,940

Down $40,679 (-14%) from 2019

Revenue And Expenses
Liabilities / Revenue44th percentileNet Margin79th percentile

Revenue

Up

$2,374,129

Up $656,242 (+38%) from 2019

Expenses

Up

$1,750,696

Up $89,244 (+5.4%) from 2019

Net Income

Up

$623,433

Up $566,998 (+1005%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth78th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$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

2020

Assets$2,547,836
Liabilities$248,940
Net Assets$2,298,896
Open 2020 Filing

Operations Trend

Revenue Growth84th percentile

Revenue, expenses, and net income across loaded years, with this 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

2020

Revenue$2,374,129
Expenses$1,750,696
Net Income$623,433
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
May 12, 2021
Return Version
2019v5.0
Gross Receipts
$2,374,129
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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,816,644$1,864,768▲ $48,124
Pledges and Grants Receivable$132,873$661,822▲ $528,949
Prepaid Expenses and Deferred Charges$15,535$21,218▲ $5,683
Other Notes and Loans Receivable, Net$22$19▼ $3
Investments Program Related$7$9▲ $2
Savings and Temporary Cash Investments-$0-
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$1,965,082$2,547,836▲ $582,754
Other Assets Total$1$0▼ $1
Liabilities
Unsecured Notes Loans Payable-$162,700-
Accounts Payable and Accrued Expenses$75,791$53,390▼ $22,401
Deferred Revenue$49,500$31,838▼ $17,662
Grants Payable$164,328$1,012▼ $163,316
Total Liabilities$289,619$248,940▼ $40,679
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,267,859$1,261,046▼ $6,813
Net Assets With Donor Restrictions$407,604$1,037,850▲ $630,246
Total Net Assets Fund Balance$1,675,463$2,298,896▲ $623,433
Total Liabilities and Net Assets / Fund Balance$1,965,082$2,547,836▲ $582,754
Compensation and Service Providers
Top Officer Pay92nd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
David KenneyExecutive DirectorFT$208,607$16,899$225,506
Marion VaughnDirector Impact InvestmFT$129,903$6,462$136,365
Johanna BrickmanDep Dir/impact StrFT$118,149$11,733$129,882

Board Members and Trustees

NameTitle
Kirk WashingtonChair
Anna MccoyDirector
David ConoverDirector
Dennis WildeDirector
Heather AndersenDirector
Joe JandaDirector
Laura MckinneyDirector
Michelle HuntDirector
Miguel SossaDirector
Joe ConnorsSecretary/Treas
Revenue and Support

Revenue Composition

Contributions and Grants
$2,278,869
Program Service Revenue
$80,644
Investment Income
$14,616
Other Revenue
$0
All Other Contributions
$570,717
Change in Net Assets
$623,433

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,374,129
Revenue Not Reported on Form 990
$250
Total Revenue per Audited Statements
$2,374,379
Total Revenue per Form 990
$2,374,129
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,085,963
Other Expenses$542,843
Total Fundraising Expense$263,949
Grants and Similar Amounts Paid$121,890
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$432,851$122,932$158,001$713,784
Fees for Services Other$338,131$298$2,975$341,404
Current Officers, Directors, Trustees, and Key Employees$135,912$38,600$49,610$224,122
Grants to Domestic Orgs$121,890--$121,890
Payroll Taxes$42,226$11,993$15,413$69,632
Conferences and Meetings$60,967$138$3,459$64,564
Other Employee Benefits$36,399$10,338$13,286$60,023
Fees for Services Legal$34,860$1,386-$36,246
Occupancy$22,386$5,415$8,221$36,022
Information Technology$17,307$3,844$6,040$27,191
Travel$17,568$2,471$1,166$21,205
Pension Plan Contributions$11,160$3,169$4,073$18,402
Office Expenses$250$7,842$182$8,274
Insurance$4,149$1,003$1,523$6,675
Other Expenses$2--$2
Total Functional Expenses$1,277,318$209,429$263,949$1,750,696

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,750,946
Expenses per Audited Statements$1,750,696
Total Expenses per Form 990$1,750,696
Expenses Not Reported on Form 990$250
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Oregon State UniversityCorvallis, OR-Scientific Research$58,781
Portland State UniversityPortland, OR-Scientific Research$26,450
Ampere ScientificAlbany, ORGovernmentCommercializing$14,899
Onboard DynamicsBend, OR-Commercializing$11,678
Maia AnalyticaPortland, OR-Sbir Consulting$11,000
Opconnect IncTigard, OR-Commercializing$9,000
Rute Foundation Systems IncPortland, OR-Commercializing$9,000
Blade Runner EnergyBend, ORGovernmentSbir Consulting$6,296
Energy RmPortland, OR-Internship$5,089
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et

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

Form 990, Part VI, Line 11B: Form 990 Review Process

“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, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“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, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

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

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“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
David Kenney
Title
Executive Director
Signed
2021-05-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David Kenney
Formed
2007
Legal Domicile
Or
Voting Board Members
7
Independent Board Members
7
Employees
14
Volunteers
10

Preparer

Firm
Kern & Thompson LLC
Address
1800 SW First Avenue Suite 410, Portland, OR 97201
Preparer
Cheryl L Morgan CPA
Phone
5032223338
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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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IRS990/ProgSrvcAccomActy2Grp/Desc0INNOVATION & OUTREACHVERTUELAB ENGAGES STRATEGICALLY WITH INDUSTRY AND OTHER CLEAN TECHNOLOGY ECOSYSTEM STAKEHOLDERS TO PROMOTE INNOVATION AND MAKE CONNECTIONS THAT LEAD TO NEW COLLABORATIONS BETWEEN UNIVERSITIES, STARTUPS, CORPORATIONS, AND OTHERS. THE ORGANIZATION ALSO INVESTED EFFORTS IN DEVELOPING A PHILANTHROPIC INVESTMENT FUND CALLED THE CLIMATE IMPACT FUND TO INVEST IN STARTUPS DEVELOPING TECHNOLOGIES TO ADDRESS THE CLIMATE. DURING THE YEAR ENDED JUNE 30, 2020 THE ORGANIZATION HELPED CONVENE PARTNERS TO SECURE A GRANT TO FUND SEVERAL ACTIVITIES THAT WILL SUPPORT THE DEVELOPMENT OF A SUSTAINABLE AQUACULTURE INDUSTRY IN OREGON.IN ADDITION, VERTUELAB INVESTED TIME AND FINANCIAL RESOURCES INTO DEVELOPING A METHODOLOGY FOR MEASURING AND MANAGING THE ENVIRONMENTAL AND SOCIAL IMPACT OF THE TECHNOLOGIES THAT IT SUPPORTS. THE ORGANIZATION ALSO CONDUCTED RESEARCH TO SUPPORT THE DEVELOPMENT OF A NEW CLIMATE IMPACT FUND THAT WOULD PROVIDE RISK-TOLERANT CAPITAL TO STARTUPS WORKING TO ADDRESS THE GLOBAL CLIMATE CRISIS.
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Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,547,836
Liabilities
$248,940
Net assets
$2,298,896
Revenue
$2,374,129
Expenses
$1,750,696
Net income
$623,433
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