Civic Intelligence

Oregon Built Environment & Sustainable Technologies Center Inc

990 • Fiscal year 2022 • EIN 26-1652936

Jul 01, 2021 to Jun 30, 2022 • Filed on May 08, 2023

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

75th percentile

0.40x

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

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Liabilities / Revenue

83rd percentile

0.97x

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

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Net Margin

81st percentile

33%

Higher net margin than 81% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Top Officer Pay

80th percentile

$222,438

Higher top officer pay than 80% of similar nonprofits.

Top officer pay equals 7.9% of source-year revenue.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Asset Growth

93rd percentile

74%

Faster asset growth than 93% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Revenue Growth

71st percentile

22%

Faster revenue growth than 71% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets75th percentile

Assets

Up

$6,880,373

Up $2,934,726 (+74%) from 2021

Net Assets

Up

$4,135,075

Up $1,018,991 (+33%) from 2021

Liabilities

Up

$2,745,298

Up $1,915,735 (+231%) from 2021

Revenue And Expenses
Liabilities / Revenue83rd percentileNet Margin81st percentile

Revenue

Up

$2,827,087

Up $500,504 (+22%) from 2021

Expenses

Up

$1,883,081

Up $373,686 (+25%) from 2021

Net Income

Up

$944,006

Up $126,818 (+16%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth93rd 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

2022

Assets$6,880,373
Liabilities$2,745,298
Net Assets$4,135,075
Open 2022 Filing

Operations Trend

Revenue Growth71st 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

2022

Revenue$2,827,087
Expenses$1,883,081
Net Income$944,006
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
May 8, 2023
Return Version
2021v4.1
Gross Receipts
$2,827,087
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$3,216,976$5,208,712▲ $1,991,736
Investments Program Related$200,009$1,446,993▲ $1,246,984
Pledges and Grants Receivable$522,674$224,654▼ $298,020
Prepaid Expenses and Deferred Charges$5,969$0▼ $5,969
Other Notes and Loans Receivable, Net$19$14▼ $5
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$3,945,647$6,880,373▲ $2,934,726
Other Assets Total-$0-
Liabilities
Unsecured Notes Loans Payable$775,000$2,600,000▲ $1,825,000
Accounts Payable and Accrued Expenses$30,594$138,798▲ $108,204
Deferred Revenue$20,000$6,500▼ $13,500
Grants Payable$3,969--
Total Liabilities$829,563$2,745,298▲ $1,915,735
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,518,512$2,354,634▲ $836,122
Net Assets With Donor Restrictions$1,597,572$1,780,441▲ $182,869
Total Net Assets Fund Balance$3,116,084$4,135,075▲ $1,018,991
Total Liabilities and Net Assets / Fund Balance$3,945,647$6,880,373▲ $2,934,726
Compensation and Service Providers
Top Officer Pay80th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
David KenneyExecutive DirectorFT$208,357$14,081$222,438
Marion VaughnDirector Impact InvestmFT$141,654$4,749$146,403
Johanna BrickmanDep Dir/impact StrFT$126,869$11,311$138,180

Board Members and Trustees

NameTitle
Heather AndersenChair
Anna MccoyDirector
Carol DahlDirector
Dennis WildeDirector
Jeff CaninDirector
Kelly LyonsDirector
Maurice RahmingDirector
Miguel SossaDirector
Joe ConnorsSecretary/Treas
Revenue and Support

Revenue Composition

Contributions and Grants
$2,122,074
Program Service Revenue
$44,365
Investment Income
$660,648
Other Revenue
$0
All Other Contributions
$620,323
Change in Net Assets
$944,006

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,827,087
Revenue Not Reported on Form 990
$74,985
Total Revenue per Audited Statements
$2,902,072
Total Revenue per Form 990
$2,827,087
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,229,299
Other Expenses$624,679
Total Fundraising Expense$262,592
Grants and Similar Amounts Paid$29,103
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$515,413$135,741$167,492$818,646
Fees for Services Other$180,495$52,016-$232,511
Current Officers, Directors, Trustees, and Key Employees$145,092$38,212$47,150$230,454
Advertising$201,276$315$440$202,031
Payroll Taxes$56,961$15,001$18,510$90,472
Other Employee Benefits$38,804$10,220$12,610$61,634
Fees for Services Lobbying$40,000--$40,000
Grants to Domestic Orgs$29,103--$29,103
Pension Plan Contributions$17,687$4,658$5,748$28,093
Fees for Services Legal$25,158--$25,158
Travel$7,040$2,424$1,893$11,357
Conferences and Meetings$11,125--$11,125
Insurance$2,691$706$893$4,290
All Other Expenses--$3$3
Other Expenses$3$21,646$7,853$3
Total Functional Expenses$1,339,550$280,939$262,592$1,883,081

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,883,081
Total Expenses per Audited Statements$1,883,081
Total Expenses per Form 990$1,883,081
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Onboard DynamicsBend, OR-Internship Grant$10,000
Skip TechnologiesPortland, OR-Internship Grant$10,000
Gadusol LabsCorvallis, OR-Scientific Research$0
GybeCorvallis, OR-Scientific Research$0
OsheruBend, OR-Scientific Research$0
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
Aina Abiodun
Title
Executive Director
Signed
2023-05-08
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
13
Volunteers
10

Preparer

Firm
Kern & Thompson LLC
Address
1800 SW First Avenue Suite 410, Portland, OR 97201
Preparer
Cheryl L Morgan CPA
Phone
5032223338
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 4D: Other Program Services Description

“Other program services 4: vertuelab impact summit: as part of its environmental and social impact activity, vertuelab hosts fuel, an annual summit that brings together community of future-focused leaders, innovatorss, entrepeneurs, and investors to catalyze solution for climate change.”

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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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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$6,880,373
Liabilities
$2,745,298
Net assets
$4,135,075
Revenue
$2,827,087
Expenses
$1,883,081
Net income
$944,006
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