Civic Intelligence

Prospect Silicon Valley

990 • Fiscal year 2020 • EIN 27-0220018

Jul 01, 2019 to Jun 30, 2020 • Filed on May 17, 2021

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

91st percentile

0.91x

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

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

Liabilities / Revenue

88th percentile

1.36x

Higher debt load relative to revenue than 88% of similar nonprofits.

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

Net Margin

33rd percentile

-1.7%

Higher net margin than 33% of similar nonprofits.

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

Top Officer Pay

76th percentile

$118,500

Higher top officer pay than 76% of similar nonprofits.

Top officer pay equals 8.5% of source-year revenue.

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

Asset Growth

77th percentile

27%

Faster asset growth than 77% of similar nonprofits.

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

Revenue Growth

28th percentile

-15%

Faster revenue growth than 28% of similar nonprofits.

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

Assets

Up

$2,085,149

Up $447,003 (+27%) from 2019

Net Assets

Down

$178,334

Down $24,192 (-12%) from 2019

Liabilities

Up

$1,906,815

Up $471,195 (+33%) from 2019

Revenue

Down

$1,397,144

Down $238,781 (-15%) from 2019

Expenses

Down

$1,421,336

Down $210,762 (-13%) from 2019

Net Income

Down

-$24,192

Down $28,019 (-732%) from 2019

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

2020

Assets$2,085,149
Liabilities$1,906,815
Net Assets$178,334

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

2020

Revenue$1,397,144
Expenses$1,421,336
Net Income-$24,192
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
May 17, 2021
Return Version
2019v5.0
Gross Receipts
$1,397,144
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
Cash and Non-Interest-Bearing Accounts$448,224$1,744,799▲ $1,296,575
Accounts Receivable$1,186,198$340,350▼ $845,848
Prepaid Expenses and Deferred Charges$2,957$0▼ $2,957
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$1,638,146$2,085,149▲ $447,003
Other Assets Total$767$0▼ $767
Liabilities
Accounts Payable and Accrued Expenses$1,435,619$1,688,152▲ $252,533
Mortgage Notes Payable Secured by Investment Property-$197,371-
Deferred Revenue-$12,212-
Other Liabilities$1$9,080▲ $9,079
Total Liabilities$1,435,620$1,906,815▲ $471,195
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$124,864$178,334▲ $53,470
Net Assets With Donor Restrictions$77,662--
Total Net Assets Fund Balance$202,526$178,334▼ $24,192
Total Liabilities and Net Assets / Fund Balance$1,638,146$2,085,149▲ $447,003
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Doug DavenportExec DirectorFT$118,500$118,500
Ruth CoxFmr Exec DirectFT$83,423$83,423

Board Members and Trustees

NameTitle
Gordon HoChairman
Jane MacfarlaneBoard Member
Ken AlexBoard Member
Michael WuBoard Member
Rick HutchinsonBoard Member

Highest Paid Contractors

ContractorServicesLocationCompensation
Karen JanowskiStrategic Planning175 E EDITH AVE, Los Altos, CA 94022-
R Moller & Associates INCStrategic Planning332 N 3RD ST APT 1, San Jose, CA 95112-
Revenue and Support

Revenue Composition

Contributions and Grants
$408,750
Program Service Revenue
$988,257
Investment Income
$137
Other Revenue
$0
All Other Contributions
$262,000
Change in Net Assets
$-24,192
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$794,628
Other Expenses$626,708
Total Fundraising Expense$31,998
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$341,590$157,657$26,276$525,523
Occupancy-$354,341-$354,341
Current Officers, Directors, Trustees, and Key Employees-$201,923-$201,923
Fees for Services Other$178,483$20,877-$199,360
Payroll Taxes$35,074$17,824$4,600$57,498
Office Expenses-$28,447-$28,447
Insurance$2,642$17,744$347$20,733
Other Employee Benefits$5,907$3,002$775$9,684
Travel-$8,898-$8,898
Interest-$4,119-$4,119
Other Expenses-$160-$160
Total Functional Expenses$563,696$825,642$31,998$1,421,336
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Fundraising Events$146,750---
Total Events$146,750---
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
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-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deposit$9,080
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
No
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
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, Line 11B: Form 990 Review Process

No review was or will be conducted.

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

No documents available to the public.

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
Doug Davenport
Title
Executive Director
Signed
2021-05-17
Discuss with paid preparer
Yes

Organization Details

Formed
2009
Legal Domicile
CA
Voting Board Members
7
Independent Board Members
6
Employees
0

Preparer

Firm
Briana & Company
Address
1799 Portola Ave Ste 3, Livermore, CA 94551
Preparer
Nicholas Briana
Phone
9259338900
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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.
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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.
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IRS990/ReportLandBuildingEquipmentInd0false
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IRS990/ReportOtherLiabilitiesInd0true
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0574435
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0475876
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IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
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IRS990/USAddress/CityNm0SAN JOSE
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IRS990/WebsiteAddressTxt0WWW.PROSPECTSV.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DOUG DAVENPORT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Executive Director
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-05-17

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