Civic Intelligence

Prospect Silicon Valley

990 • Fiscal year 2018 • EIN 27-0220018

Jul 01, 2017 to Jun 30, 2018 • Filed on May 14, 2019

1608 Las PlumasSan Jose, CA 95133

(408) 273-9224

Siviq Scores

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

Liabilities / Assets

83rd percentile

0.58x

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

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

71st percentile

0.30x

Higher debt load relative to revenue than 71% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

14th percentile

-19%

Higher net margin than 14% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

88th percentile

$180,000

Higher top officer pay than 88% of similar nonprofits.

Top officer pay equals 14.9% of source-year revenue.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

2nd percentile

-46%

Faster asset growth than 2% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

71st percentile

16%

Faster revenue growth than 71% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Assets

Down

$624,255

Down $532,684 (-46%) from 2017

Net Assets

Up

$259,699

Up $42,026 (+19%) from 2017

Liabilities

Down

$364,556

Down $574,710 (-61%) from 2017

Revenue

Up

$1,205,932

Up $169,647 (+16%) from 2017

Expenses

Up

$1,435,098

Up $368,158 (+35%) from 2017

Net Income

Down

-$229,166

Down $198,511 (-648%) from 2017

Historical Trend

Balance Sheet Trend

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

$3.0M$2.0M$1.0M$0Assets 2014: $154,840Liabilities 2014: $32,087Net Assets 2014: $122,7532014Assets 2015: $438,581Liabilities 2015: $125,820Net Assets 2015: $312,7612015Assets 2016: $375,538Liabilities 2016: $127,209Net Assets 2016: $248,3292016Assets 2017: $1,156,939Liabilities 2017: $939,266Net Assets 2017: $217,6732017Assets 2018: $624,255Liabilities 2018: $364,556Net Assets 2018: $259,6992018Assets 2019: $1,638,146Liabilities 2019: $1,435,620Net Assets 2019: $202,5262019Assets 2020: $2,085,149Liabilities 2020: $1,906,815Net Assets 2020: $178,3342020Assets 2021: $846,628Liabilities 2021: $607,653Net Assets 2021: $238,9752021Assets 2022: $610,362Liabilities 2022: $316,206Net Assets 2022: $294,1562022Assets 2023: $825,628Liabilities 2023: $247,164Net Assets 2023: $578,4642023Assets 2024: $536,328Liabilities 2024: $77,305Net Assets 2024: $459,0232024

Highlighted filing

2018

Assets$624,255
Liabilities$364,556
Net Assets$259,699

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$2.0M$1.5M$1.0M$500K$0-$500KRevenue 2014: $223,153Expenses 2014: $307,089Net Income 2014: -$83,9362014Revenue 2015: $1,084,044Expenses 2015: $1,156,036Net Income 2015: -$71,9922015Revenue 2016: $974,432Expenses 2016: $1,300,864Net Income 2016: -$326,4322016Revenue 2017: $1,036,285Expenses 2017: $1,066,940Net Income 2017: -$30,6552017Revenue 2018: $1,205,932Expenses 2018: $1,435,098Net Income 2018: -$229,1662018Revenue 2019: $1,635,925Expenses 2019: $1,632,098Net Income 2019: $3,8272019Revenue 2020: $1,397,144Expenses 2020: $1,421,336Net Income 2020: -$24,1922020Revenue 2021: $1,095,706Expenses 2021: $1,035,065Net Income 2021: $60,6412021Revenue 2022: $888,763Expenses 2022: $833,582Net Income 2022: $55,1812022Revenue 2023: $1,130,431Expenses 2023: $846,123Net Income 2023: $284,3082023Revenue 2024: $718,398Expenses 2024: $837,839Net Income 2024: -$119,4412024

Highlighted filing

2018

Revenue$1,205,932
Expenses$1,435,098
Net Income-$229,166
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
May 14, 2019
Return Version
2017v2.3
Gross Receipts
$1,205,932
Mission and Program Overview

Mission

As reflected in the amended and restated articles of incorporation filed in march 2015, prospect silicon valley ("prospectsv") is organized and operated exclusively for public and charitable purposes within the meaning of section 501(c)(3) of the internal revenue code.a primary purpose of prospectsv is to support and assist the city of san jose, california in operating the clean tech demonstration center at the environmental innovation center and to develop, implement, and support demonstration and commercialization activities for clean tech and other emerging technologies in the city of san jose, california.

To foster innovation and positive social impact through technology demonstration support and community partnership toward sustainable urban systems.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$948,683$373,801▼ $574,882
Cash and Non-Interest-Bearing Accounts$201,556$244,915▲ $43,359
Prepaid Expenses and Deferred Charges$6,133$4,772▼ $1,361
Total Assets$1,156,939$624,255▼ $532,684
Other Assets Total$567$767▲ $200
Liabilities
Accounts Payable and Accrued Expenses$939,266$364,556▼ $574,710
Total Liabilities$939,266$364,556▼ $574,710
Net Assets / Fund Balance
Unrestricted Net Assets$199,482$241,508▲ $42,026
Temporarily Rstr Net Assets$18,191$18,191→ $0
Total Net Assets Fund Balance$217,673$259,699▲ $42,026
Total Liabilities and Net Assets / Fund Balance$1,156,939$624,255▼ $532,684
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Ruth CoxCEOFT$180,000$180,000

Board Members and Trustees

NameTitle
Gordon HoChairman
Doug DavenportBoard Member
Kip HarknessBoard Member
Michael WuBoard Member
Rick HutchinsonBoard Member

Highest Paid Contractors

ContractorServicesLocationCompensation
Karen JanowskiStrategic Planning175 E EDITH AVE, Los Altos, CA 94022$107,280
Revenue and Support

Revenue Composition

Contributions and Grants
$574,435
Program Service Revenue
$631,496
Investment Income
$1
Other Revenue
$0
All Other Contributions
$22,823
Change in Net Assets
$-229,166

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$804,173
Salaries, Compensation, and Employee Benefits$630,925
Total Fundraising Expense$44,385
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$232,626$153,965$42,508$429,099
Occupancy$91,662$274,027-$365,689
Fees for Services Other$185,506$45,097$500$231,103
Current Officers, Directors, Trustees, and Key Employees$180,000--$180,000
Payroll Taxes$31,625$11,010$2,816$45,451
Other Expenses$24,653$8,452-$33,105
Insurance$8,294$8,294-$16,588
Travel$8,086$7,109-$15,195
Office Expenses$92$12,080-$12,172
Other Employee Benefits$-11,577$-10,609$-1,439$-23,625
Total Functional Expenses$846,338$544,375$44,385$1,435,098
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

The form 990 is reviewed by the executive director prior to providing it to the board and it's filed upon their approval.

Form 990, Part VI, Section C, Line 18

Governing documents are available upon request.

Form 990, Part VI, Section C, Line 19

In 2015, the organization adopted a conflict of interest policy.

Filing and Contact Details

Filer

Filer Name
Prospect Silicon Valley
EIN
27-0220018
Phone
4082739224
Address
1608 LAS PLUMAS, SAN JOSE, CA 95133

Signing Officer

Name
Ruth Cox
Title
CEO
Phone
4082739224
Signed
2019-05-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ruth Cox
Formed
2009
Legal Domicile
CA
Voting Board Members
6
Independent Board Members
6
Employees
0
Volunteers
0

Preparer

Firm
Db Olsen & Company Llp
Address
500 YGNACIO VALLEY RD SUITE 328, WALNUT CREEK, CA 94596
Preparer
Nicholas Briana
Phone
9259338900
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Contract services: program service expenses 185,453. Management and general expenses 26,125. Fundraising expenses 500. Total expenses 212,078. Professional fees: program service expenses 53. Management and general expenses 18,972. Fundraising expenses 0. Total expenses 19,025.

Raw XML Appendix395 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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IRS990/Desc0PROSPECTSV IS A NON-PROFIT COMMERCIALIZATION CATALYST ASSISTING EMERGING TECHNOLOGY COMPANIES WITH A PATHWAY TO MARKET, BRINGING HIGH-IMPACT SOLUTIONS FORWARD IN THE BAY AREA. PROSPECTSV'S TEAM OF HIGHLY QUALIFIED TECHNICAL AND MARKET EXPERTS ASSIST STARTUPS WITH A SUITE OF COMMERCIALIZATION SERVICES, AND COLLABORATES WITH BAY AREA ENVIRONMENT AND OVERALL QUALITY OF LIFE. DRAWING TOGETHER THE GOVERNMENT, BUSINESS AND INSTITUTIONAL LEADERSHIP INTO COLLABORATIVE PARTNERSHIP, THE PROSPECTSV TEAM DEVELOPS LOCAL INITIATIVES WITH AN AIM TOWARD GLOBAL IMPACT. TO LEARN MORE VISIT WWW.PROSPECTSV.ORG.BUILDINGS:OUR STRATEGY IS STRAIGHTFORWARD: LAUNCH A BAY AREA PLATFORM OF PUBLIC AND PRIVATE BUILDING PARTNERS TO HELP COMPANIES COMMERCIALIZE INNOVATIVE BUILDING SOLUTIONS, AND HELP POSITION THEM FOR INVESTMENT AND MARKET READINESS. THE APPROACH IS AIMED AT PROVIDING USE CASES FOR ESTABLISHED TECHNOLOGY COMPANIES AS WELL AS START-UPS. THE PLAN INCLUDES FORMING A REGIONAL PORTFOLIO OF COMMERCIAL-SCALE BUILDINGS AND PILOT SITES TO PROVIDE EMERGING COMPANIES UNIQUE OPPORTUNITIES FOR EARLY DEMONSTRATION AND FIELD TRIALS.TRANSPORTATION:TECHNOLOGY IS CHANGING THE WAY WE ACCESS, USE, AND PERCEIVE MOBILITY. THE ADVENT OF HIGH-PERFORMANCE ELECTRIC VEHICLES, CONNECTED VEHICLES, AUTONOMY, AND THE SHARED ECONOMY ARE TRANSFORMING TRANSPORTATION GLOBALLY. PROSPECT SILICON VALLEY, WORKING WITH PRIVATE SECTOR PARTNERS AND LOCAL COMMUNITIES, ARE BUILDING AN INNOVATIVE PUBLIC-PRIVATE PARTNERSHIP THAT WILL USHER IN THE NEXT GENERATION OF TRANSPORTATION TECHNOLOGY, AND OFFER TRULY UNIQUE PLATFORMS FOR INNOVATION AT THE LAB, FIELD, AND COMMUNITY SCALE.BACC:THE BAY AREA CLIMATE COLLABORATIVE (BACC), A PROGRAM OF PROSPECT SILICON VALLEY, IS A PUBLIC-PRIVATE INITIATIVE ESTABLISHED BY BUSINESS AND CIVIC LEADERS IN 2009 TO ACCELERATE THE CLEAN ENERGY IMPLEMENTATION. BACC PROGRAMS HAVE COMMITTED OVER 100 MILLION LBS CO2 AVOIDED OVER THE NEXT 10 YEARS THROUGH ITS MARKET ORIENTED INIATIVES. BACC INITIATIVES INCLUDE FACILITATING THE DEPLOYMENT OF 140 ELECTRIC FLEET VEHICLES, OVER 150 EV CHARGE PORTS, 85,000 LED STREET LIGHTS, AND DEVELOPING INNOVATIVE PROGRAMS SUCH AS ENERGIZE SCHOOLS. ANCHOR PARTNERS INCLUDE THE SILICON VALLEY LEADERSHIP GROUP, BANK OF AMERICA, PG&E, ENVIRONMENTAL DEFENSE FUND, MAJOR CLEAN ENERGY INDUSTRY PARTNERS, AND LOCAL GOVERNMENTS REPRESENTING OVER 70 PERCENT OF THE BAY AREA POPULATION. FOR MORE INFORMATION ON THE BACC, PLEASE VISIT WWW.BACLIMATE.ORG.
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IRS990/MissionDesc0AS REFLECTED IN THE AMENDED AND RESTATED ARTICLES OF INCORPORATION FILED IN MARCH 2015, PROSPECT SILICON VALLEY ("PROSPECTSV") IS ORGANIZED AND OPERATED EXCLUSIVELY FOR PUBLIC AND CHARITABLE PURPOSES WITHIN THE MEANING OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE.A PRIMARY PURPOSE OF PROSPECTSV IS TO SUPPORT AND ASSIST THE CITY OF SAN JOSE, CALIFORNIA IN OPERATING THE CLEAN TECH DEMONSTRATION CENTER AT THE ENVIRONMENTAL INNOVATION CENTER AND TO DEVELOP, IMPLEMENT, AND SUPPORT DEMONSTRATION AND COMMERCIALIZATION ACTIVITIES FOR CLEAN TECH AND OTHER EMERGING TECHNOLOGIES IN THE CITY OF SAN JOSE, CALIFORNIA.
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IRS990/PYProgramServiceRevenueAmt0804078
IRS990/PYRevenuesLessExpensesAmt0-30655
IRS990/PYSalariesCompEmpBnftPaidAmt0692088
IRS990/PYTotalExpensesAmt01066940
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt01036285
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IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0475876
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0454524
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0675944
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0187500
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0675944
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0187500
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt02368279
IRS990ScheduleA/TotalSupportAmt02368279
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IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORM 990 IS REVIEWED BY THE EXECUTIVE DIRECTOR PRIOR TO PROVIDING IT TO THE BOARD AND IT'S FILED UPON THEIR APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2IN 2015, THE ORGANIZATION ADOPTED A CONFLICT OF INTEREST POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3CONTRACT SERVICES: PROGRAM SERVICE EXPENSES 185,453. MANAGEMENT AND GENERAL EXPENSES 26,125. FUNDRAISING EXPENSES 500. TOTAL EXPENSES 212,078. PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 53. MANAGEMENT AND GENERAL EXPENSES 18,972. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 19,025.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION C, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART IX, LINE 11G
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0624255
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt07109
IRS990/TravelGrp/ProgramServicesAmt08086
IRS990/TravelGrp/TotalAmt015195
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
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IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0199482
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ReturnHeader/BuildTS02019-02-21 02:37:17Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0RUTH COX
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum04082739224
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-05-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PROSPECT SILICON VALLEY
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ReturnHeader/FilingSecurityInformation/IPDt02019-05-14
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0PD
ReturnHeader/FilingSecurityInformation/IPTm009:35:41
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0463781405
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0DB OLSEN & COMPANY LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0500 YGNACIO VALLEY RD SUITE 328
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WALNUT CREEK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd094596
ReturnHeader/PreparerPersonGrp/PhoneNum09259338900
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0NICHOLAS BRIANA
ReturnHeader/ReturnTs02019-05-15T16:25:45-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-07-01
ReturnHeader/TaxPeriodEndDt02018-06-30
ReturnHeader/TaxYr02017

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