Civic Intelligence

Oregon Built Environment & Sustainable Technologies Center Inc

990 • Fiscal year 2021 • EIN 26-1652936

Jul 01, 2020 to Jun 30, 2021 • Filed on May 07, 2022

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

68th percentile

0.21x

Higher debt load relative to assets than 68% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

75th percentile

0.36x

Higher debt load relative to revenue than 75% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

78th percentile

35%

Higher net margin than 78% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

92nd percentile

$222,672

Higher top officer pay than 92% of similar nonprofits.

Top officer pay equals 9.6% of source-year revenue.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

87th percentile

55%

Faster asset growth than 87% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

29th percentile

-2.0%

Faster revenue growth than 29% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets68th percentile

Assets

Up

$3,945,647

Up $1,397,811 (+55%) from 2020

Net Assets

Up

$3,116,084

Up $817,188 (+36%) from 2020

Liabilities

Up

$829,563

Up $580,623 (+233%) from 2020

Revenue And Expenses
Liabilities / Revenue75th percentileNet Margin78th percentile

Revenue

Down

$2,326,583

Down $47,546 (-2.0%) from 2020

Expenses

Down

$1,509,395

Down $241,301 (-14%) from 2020

Net Income

Up

$817,188

Up $193,755 (+31%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth87th 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

2021

Assets$3,945,647
Liabilities$829,563
Net Assets$3,116,084
Open 2021 Filing

Operations Trend

Revenue Growth29th 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

2021

Revenue$2,326,583
Expenses$1,509,395
Net Income$817,188
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 7, 2022
Return Version
2020v4.0
Gross Receipts
$2,326,583
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
Cash and Non-Interest-Bearing Accounts$1,864,768$3,216,976▲ $1,352,208
Pledges and Grants Receivable$661,822$522,674▼ $139,148
Investments Program Related$9$200,009▲ $200,000
Prepaid Expenses and Deferred Charges$21,218$5,969▼ $15,249
Other Notes and Loans Receivable, Net$19$19→ $0
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$2,547,836$3,945,647▲ $1,397,811
Other Assets Total-$0-
Liabilities
Unsecured Notes Loans Payable$162,700$775,000▲ $612,300
Accounts Payable and Accrued Expenses$53,390$30,594▼ $22,796
Deferred Revenue$31,838$20,000▼ $11,838
Grants Payable$1,012$3,969▲ $2,957
Total Liabilities$248,940$829,563▲ $580,623
Net Assets / Fund Balance
Net Assets With Donor Restrictions$1,037,850$1,597,572▲ $559,722
Net Assets Without Donor Restrictions$1,261,046$1,518,512▲ $257,466
Total Net Assets Fund Balance$2,298,896$3,116,084▲ $817,188
Total Liabilities and Net Assets / Fund Balance$2,547,836$3,945,647▲ $1,397,811
Compensation and Service Providers
Top Officer Pay92nd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
David KenneyExecutive DirectorFT$208,415$14,257$222,672
Marion VaughnDirector Impact InvestmFT$138,640$2,550$141,190
Johanna BrickmanDep Dir/impact StrFT$118,643$11,338$129,981

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$2,265,348
Program Service Revenue
$56,540
Investment Income
$4,695
Other Revenue
$0
All Other Contributions
$679,550
Change in Net Assets
$817,188
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,114,369
Other Expenses$343,659
Total Fundraising Expense$263,155
Grants and Similar Amounts Paid$51,367
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$456,889$124,412$164,473$745,774
Fees for Services Other$234,010$7,268$4,353$245,631
Current Officers, Directors, Trustees, and Key Employees$136,532$37,178$49,150$222,860
Payroll Taxes$49,439$13,462$17,798$80,699
Grants to Domestic Orgs$51,367--$51,367
Other Employee Benefits$26,644$7,255$9,591$43,490
Information Technology$24,362$4,231$6,398$34,991
Pension Plan Contributions$13,200$3,594$4,752$21,546
Conferences and Meetings$16,504$238$27$16,769
Occupancy$9,010$2,359$3,221$14,590
Fees for Services Legal$10,588--$10,588
Office Expenses$392$8,560$1,522$10,474
Insurance$4,604$1,242$1,696$7,542
Travel$127$586$174$887
Other Expenses$1,780$332-$332
Total Functional Expenses$1,035,448$210,792$263,155$1,509,395
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Portland State UniversityPortland, OR-Scientific Research$39,689
Food4allBend, OR-Sbir Consulting$11,000
Focal TechnologiesPortland, OR-Commercializing$9,000
Community Energy LabsPortland, OR-Sbir Consulting$8,438
Leapfrog DesignBend, OR-Sbir Consulting$5,862
Gadusol LaboratoriesCorvallis, OR-Internship Grant$5,383
Blue Dot PhotonicsKirkland, WAGovernmentCommercializing$5,382
Wheyward SpiritPortland, OR-Internship Grant$5,382
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, 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
2022-05-07
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
11
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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IRS990/InformationTechnologyGrp/TotalAmt034991
IRS990/InsuranceGrp/FundraisingAmt01696
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IRS990/InsuranceGrp/TotalAmt07542
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IRS990/MissionDesc0TO UNLEASH INNOVATION AND ENTREPRENEURSHIP THAT WILL SOLVE ENVIRONMENTAL CHALLENGES AND CATALYZE SHARED ECONOMIC PROSPERITY. PROVIDE FUNDING AND HOLISTIC ENTREPRENEURIAL SUPPORT TO CLEANTECH STARTUPS.
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IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt08560
IRS990/OfficeExpensesGrp/ProgramServicesAmt0392
IRS990/OfficeExpensesGrp/TotalAmt010474
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IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt07255
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt026644
IRS990/OtherEmployeeBenefitsGrp/TotalAmt043490
IRS990/OtherExpensesGrp/Desc0DUES AND SUBSCRIPTIONS
IRS990/OtherExpensesGrp/Desc1In Kind
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt075
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt1332
IRS990/OtherExpensesGrp/ProgramServicesAmt01780
IRS990/OtherExpensesGrp/TotalAmt01855
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IRS990/OtherSalariesAndWagesGrp/FundraisingAmt0164473
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IRS990/OtherSalariesAndWagesGrp/TotalAmt0745774
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IRS990/PayrollTaxesGrp/FundraisingAmt017798
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt013462
IRS990/PayrollTaxesGrp/ProgramServicesAmt049439
IRS990/PayrollTaxesGrp/TotalAmt080699
IRS990/PensionPlanContributionsGrp/FundraisingAmt04752
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt03594
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt013200
IRS990/PensionPlanContributionsGrp/TotalAmt021546
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt0661822
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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt05969
IRS990/PrincipalOfficerNm0DAVID KENNEY
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IRS990/ProgramServiceRevenueGrp/Desc0VERTUELAB IMPACT SUMMIT
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IRS990/ProgSrvcAccomActy2Grp/Desc0INNOVATION & OUTREACHVERTUELAB ENGAGES STRATEGICALLY WITH INDUSTRY AND OTHER CLEAN TECHNOLOGY ECOSYSTEMSTAKEHOLDERS TO PROMOTE INNOVATION AND MAKE CONNECTIONS THAT LEAD TO NEW COLLABORATIONS, BETWEEN UNIVERSITIES, STARTUPS, CORPORATIONS, AND OTHERS. DURING THE YEAR ENDED JUNE 30, 2021THE ORGANIZATION HELPED CONVENE PARTNERS TO SECURE A GRANT TO FUND THE NORTHWEST CLEANTECHINNOVATION NETWORK. THIS NETWORK WILL ESTABLISH A REGIONAL ENTREPRENEURIAL SUPPORT SYSTEM TO INCREASE AND ACCELERATE THE DEVELOPMENT, SUCCESS RATE, AND COMMERCIALIZATION OF EARLY-STAGE CLEAN ENERGY STARTUPS IN THE NORTHWEST. IN ADDITION, VERTUELAB INVESTED TIME AND FINANCIAL RESOURCES INTO DEVELOPING AND IMPLEMENTING A METHODOLOGY FOR FORECASTING, MEASURING, AND MANAGING THE ENVIRONMENTAL AND SOCIAL IMPACT OF THE TECHNOLOGIES THAT IT SUPPORTS. THE ORGANIZATION ALSO RAISED CAPITAL FOR AND INITIATED INVESTMENT ACTIVITIES FROM A CLIMATE IMPACT FUND THAT PROVIDES RISK-TOLERANT CAPITAL TO STARTUPS FROM THE UNITEDSTATES AND CANADA WORKING TO ADDRESS THE GLOBAL CLIMATE CRISIS.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.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0359091
IRS990/ProgSrvcAccomActy3Grp/Desc0VERTUELAB IMPACT SUMMITAS PART OF ITS ENVIRONMENTAL AND SOCIAL IMPACT ACTIVITY, VERTUELAB HOSTS FUEL, AN ANNUAL SUBMIT THAT BRINGS TOGETHER COMMUNITY OF FUTURE-FOCUSED LEADERS, INNOVATORS, ENTREPRENEURS, AND INVESTORS TO CATALYZE SOLUTION FOR CLIMATE CHANGE.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt037457
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt056540
IRS990/ProhibitedTaxShelterTransInd0false
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IRS990/PYExcessBenefitTransInd0false
IRS990/PYGrantsAndSimilarPaidAmt0121890
IRS990/PYInvestmentIncomeAmt014616
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0542843
IRS990/PYProgramServiceRevenueAmt080644
IRS990/PYRevenuesLessExpensesAmt0623433
IRS990/PYSalariesCompEmpBnftPaidAmt01085963
IRS990/PYTotalExpensesAmt01750696
IRS990/PYTotalRevenueAmt02374129
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0817188
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0true
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt02278869
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt01641237
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt01437700
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt03001978
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt010625132
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt04695
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt013650
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt06741
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0886
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt040588
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt01231553
IRS990ScheduleA/OtherIncome170Grp/TotalAmt00
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IRS990ScheduleA/PublicSupportCY170Pct00.99620
IRS990ScheduleA/PublicSupportPY170Pct00.99690
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt03001978
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt010625132
IRS990ScheduleA/TotalSupportAmt010665720
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
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IRS990ScheduleC/AvgLobbyingNontaxableAmountGrp/CurrentYearMinus2Amt0233073
IRS990ScheduleC/AvgLobbyingNontaxableAmountGrp/CurrentYearMinus3Amt0266438
IRS990ScheduleC/AvgLobbyingNontaxableAmountGrp/TotalAmt0962516
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IRS990ScheduleI/RecipientTable/CashGrantAmt18438
IRS990ScheduleI/RecipientTable/CashGrantAmt29000
IRS990ScheduleI/RecipientTable/CashGrantAmt311000
IRS990ScheduleI/RecipientTable/CashGrantAmt45383

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,945,647
Liabilities
$829,563
Net assets
$3,116,084
Revenue
$2,326,583
Expenses
$1,509,395
Net income
$817,188
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