Civic Intelligence

Elevate Ventures Inc.

990 • Fiscal year 2015 • EIN 27-4118692

Jan 01, 2015 to Dec 31, 2015 • Filed on Oct 24, 2016

Organization Profilewww.elevateventures.com

View Organization Page

50 East 91st St 213Indianapolis, IN 46240

(317) 252-0258

Siviq Scores

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

Liabilities / Assets

90th percentile

0.94x

Higher debt load relative to assets than 90% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

85th percentile

1.10x

Higher debt load relative to revenue than 85% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Net Margin

75th percentile

16%

Higher net margin than 75% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

89th percentile

$190,883

Higher top officer pay than 89% of similar nonprofits.

Top officer pay equals 6.3% of source-year revenue.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Asset Growth

63rd percentile

4.6%

Faster asset growth than 63% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

33rd percentile

-3.0%

Faster revenue growth than 33% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets90th percentile

Assets

Up

$3,555,742

Up $157,892 (+4.6%) from 2014

Net Assets

Down

$221,868

Down $2,829,220 (-93%) from 2014

Liabilities

Up

$3,333,874

Up $2,987,112 (+861%) from 2014

Revenue And Expenses
Liabilities / Revenue85th percentileNet Margin75th percentile

Revenue

Down

$3,032,725

Down $94,666 (-3.0%) from 2014

Expenses

Down

$2,552,742

Down $948,508 (-27%) from 2014

Net Income

Up

$479,983

Up $853,842 (+228%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth63rd percentile

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

$30M$20M$10M$0Assets 2011: $969,241Liabilities 2011: $221,122Net Assets 2011: $748,1192011Assets 2012: $2,624,488Liabilities 2012: $377,216Net Assets 2012: $2,247,2722012Assets 2013: $3,498,030Liabilities 2013: $335,914Net Assets 2013: $3,162,1162013Assets 2014: $3,397,850Liabilities 2014: $346,762Net Assets 2014: $3,051,0882014Assets 2015: $3,555,742Liabilities 2015: $3,333,874Net Assets 2015: $221,8682015Assets 2016: $6,298,112Liabilities 2016: $2,846,271Net Assets 2016: $3,451,8412016Assets 2017: $8,499,730Liabilities 2017: $2,492,214Net Assets 2017: $6,007,5162017Assets 2018: $8,772,845Liabilities 2018: $3,906,600Net Assets 2018: $4,866,2452018Assets 2019: $9,852,173Liabilities 2019: $4,246,366Net Assets 2019: $5,605,8072019Assets 2020: $11,029,847Liabilities 2020: $7,220,843Net Assets 2020: $3,809,0042020Assets 2021: $13,635,821Liabilities 2021: $2,487,574Net Assets 2021: $11,148,2472021Assets 2022: $13,172,198Liabilities 2022: $2,846,213Net Assets 2022: $10,325,9852022Assets 2023: $11,990,431Liabilities 2023: $2,378,013Net Assets 2023: $9,612,4182023Assets 2024: $28,187,603Liabilities 2024: $5,009,827Net Assets 2024: $23,177,7762024

Highlighted filing

2015

Assets$3,555,742
Liabilities$3,333,874
Net Assets$221,868
Open 2015 Filing

Operations Trend

Revenue Growth33rd percentile

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

$15M$10M$5.0M$0-$5.0MExpenses 2011: $921,0652011Expenses 2012: $2,657,5362012Revenue 2013: $3,947,692Expenses 2013: $3,051,775Net Income 2013: $895,9172013Revenue 2014: $3,127,391Expenses 2014: $3,501,250Net Income 2014: -$373,8592014Revenue 2015: $3,032,725Expenses 2015: $2,552,742Net Income 2015: $479,9832015Revenue 2016: $6,078,756Expenses 2016: $3,180,097Net Income 2016: $2,898,6592016Revenue 2017: $5,512,247Expenses 2017: $3,618,669Net Income 2017: $1,893,5782017Revenue 2018: $4,636,197Expenses 2018: $4,220,363Net Income 2018: $415,8342018Revenue 2019: $5,326,795Expenses 2019: $4,269,500Net Income 2019: $1,057,2952019Revenue 2020: $5,850,844Expenses 2020: $5,194,095Net Income 2020: $656,7492020Revenue 2021: $6,541,390Expenses 2021: $6,847,993Net Income 2021: -$306,6032021Revenue 2022: $6,491,355Expenses 2022: $7,979,642Net Income 2022: -$1,488,2872022Revenue 2023: $9,960,751Expenses 2023: $11,621,084Net Income 2023: -$1,660,3332023Revenue 2024: $9,243,556Expenses 2024: $10,820,838Net Income 2024: -$1,577,2822024

Highlighted filing

2015

Revenue$3,032,725
Expenses$2,552,742
Net Income$479,983
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Oct 24, 2016
Return Version
2015v2.1
Gross Receipts
$3,034,940
Mission and Program Overview

Mission

Successful communities share qualities that make them desirable places to live and work. A fundamental quality of such places is a thriving, sustainable entrepreneurial culture. Guided by this vision, we help regions and communities create entrepreneurial cultures, and encourage and develop business leaders of tomorrow. This has been our goal since inception, and we are the only organization in Indiana executing a strategy that advances entrepreneurs from within Indiana to create a thriving, robust pipeline of growth-oriented companies backed by critical capital and support. 2017 was another record year of capital investment. Elevate portfolio companies span 31 Indiana counties. From 2011 to 2017, Elevate funds under management deployed $70.56M in capital, with an additional $420M generated by co-investments and follow-on investments. For every dollar Elevate invests, other capital partners invest $6.70, based on data available through April, 2018 with more than 1,200 investors.

Elevate Ventures' mission is to create sustainable entrepreneurial development cultures and infrastructure throughout Indiana and drive financial and economic returns for Indiana communities through value-added services and both direct investments and fund-of-funds programs. Elevate Ventures serves as a community catalyst by discovering and developing high-performing, high-growth, Indiana-based businesses.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$1,942,555$2,012,136▲ $69,581
Cash and Non-Interest-Bearing Accounts$373,952$989,544▲ $615,592
Accounts Receivable$411,064$477,916▲ $66,852
Investments Other Securities$262,831--
Prepaid Expenses and Deferred Charges$36,488$34,659▼ $1,829
Pledges and Grants Receivable$352,167$34,167▼ $318,000
Land, Buildings, and Equipment, Net$18,793$7,320▼ $11,473
Other Notes and Loans Receivable, Net$0--
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Program Related$0--
Investments in Publicly Traded Securities$0--
Pd in Cap Srpls Land Bldg Eqp Fund$0--
Rtn Earn Endowment Incm Other Fnds$0--
Cap Stk Tr Prin Current Funds$0--
Intangible Assets$0--
Inventories for Sale or Use$0--
Total Assets$3,397,850$3,555,742▲ $157,892
Other Assets Total$0$0→ $0
Liabilities
Other Liabilities$0$3,046,372▲ $3,046,372
Accounts Payable and Accrued Expenses$346,762$287,502▼ $59,260
Grants Payable$0--
Mortgage Notes Payable Secured by Investment Property$0--
Unsecured Notes Loans Payable$0--
Deferred Revenue$0--
Escrow Account Liability$0--
Tax Exempt Bond Liabilities$0--
Total Liabilities$346,762$3,333,874▲ $2,987,112
Net Assets / Fund Balance
Temporarily Rstr Net Assets$1,193,514$775,942▼ $417,572
Permanently Rstr Net Assets$0--
Unrestricted Net Assets$1,857,574$-554,074▼ $2,411,648
Total Net Assets Fund Balance$3,051,088$221,868▼ $2,829,220
Total Liabilities and Net Assets / Fund Balance$3,397,850$3,555,742▲ $157,892

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$7,320$16,414$23,734
Compensation and Service Providers
Top Officer Pay89th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
-Chief Investment OfficerFT$134,731$56,152$190,883
-Board Member and General CounselFT$140,097$41,601$181,698
-Entrepreneur-in-ResidenceFT$108,075$46,169$154,244
-Chief Financial OfficerFT$119,128$14,803$133,931
-Chief Executive Officer (as of July 2015)FT$118,602$1,194$119,796
-Former Chief Executive Officer-$112,000$112,000$112,000

Board Members and Trustees

NameTitle
-Board Chair, until Jun
-Secretary (Jan-Jun) / Board Chair (Jul-Dec))
-Board Member
-Board Member, as of Dec
-Board Member, until Jun

Highest Paid Contractors

ContractorServicesLocationCompensation
AutosolveAdvisory Services - Economic Gardening Program329 WOOD STREET, Lake Mary, FL 32746$134,500
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$3,021,976
Investment Income
$9,765
Other Revenue
$984
Change in Net Assets
$479,983

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,032,725
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$-3,309,203
Other Revenue Adjustments
$0
Total Revenue per Audited Statements
$-276,478
Total Revenue per Form 990
$3,032,725
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,659,456
Other Expenses$749,520
Grants and Similar Amounts Paid$143,766
Total Fundraising Expense$9,940
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$732,694$49,164$9,291$791,149
Current Officers, Directors, Trustees, and Key Employees$507,309$118,999$0$626,308
Fees for Services Other$336,443$71,570$0$408,013
Grants to Domestic Orgs$143,766--$143,766
Other Employee Benefits-$121,546-$121,546
Payroll Taxes-$83,065-$83,065
Occupancy$24,579$46,763-$71,342
Insurance$50,658$13,638$649$64,945
Travel$44,582$8,935-$53,517
Information Technology$18,629$30,395-$49,024
Pension Plan Contributions-$37,388-$37,388
Fees for Services Accounting$9,839$21,359-$31,198
Office Expenses$12,643$3,409-$16,052
Advertising$6,919$4,613-$11,532
Depreciation Depletion$5,298$1,429-$6,727
Fees for Services Legal$2,000$1,237-$3,237
Other Expenses$2,520$680-$3,200
All Other Expenses$469$127$0$596
Total Functional Expenses$1,920,115$622,687$9,940$2,552,742

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,552,742
Total Expenses per Audited Statements$2,552,742
Total Expenses per Form 990$2,552,742
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Other Expense Adjustments$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Cuttly IncFort Wayne, INCorporationHigh-Potential Startup Grant$25,000
FlyBy TechnologiesFort Wayne, INCorporationHigh-Potential Startup Grant$25,000
Freedom Energy HoldingsFort Wayne, INCorporationHigh-Potential Startup Grant$25,000
Global Medical IndustriesFort Wayne, INCorporationHigh-Potential Startup Grant$25,000
Innovative LivestockFort Wayne, INCorporationHigh-Potential Startup Grant$25,000
Lawgle IncFort Wayne, INCorporationHigh-Potential Startup Grant$25,000
Go Yodel LLCValparaiso, INCorporationHigh-Potential Startup Grant$10,000
RockZip LLCMichigan City, INCorporationReturn unused Grant proceeds from prior year$-5,000
Ananse Health LLCValparaiso, INCorporationReturn unused Grant proceeds from prior year$-11,234
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
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
Investment in Indiana 21st Century Fund, Lp$3,046,372
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 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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 15B PROCESS TO ESTABLISH COMPENSATION OF OTHER OFFICERS

“The ceo has the authority to hire and set initial compensation of other officers and key employees. Subsequent raises were determined by the compensation committee and approved by the board. This process was last undertaken in january 2015.”

Form 990, Part VI, Line 15A PROCESS TO ESTABLISH COMPENSATION OF TOP MANAGEMENT OFFICIAL

“A compensation committee was appointed to establish compensation for the top management official. The committee used comparability data in their determination to ensure compensation is reasonable. Discussion and analysis of the process was documented in the compensation committee minutes. The compensation committee presented to the Board of Directors their recommendation for compensation and the Board voted on the compensation based on the committee's recommendation. This process was last undertaken in February 2013. The new Chief Executive Officer (effective July 2015) started at the same salary as the former CEO. Recently, the board retained an independent consultant to evaluate the CEO compensation for 2017.”

Form 990, Part VI, Line 8B Documentation of meetings held by committees of governing body

“The organization does not have any committees with authority to act on behalf of the governing body and has therefore answered this question "no" in accordance with the instructions.”

Form 990, Part VI, Line 11B Review of form 990 by governing body

“The form 990 was reviewed in detail by the CFO and CEO. A final draft of the form 990 was distributed in hard copy form at the board meeting held on October 6 to all present board members and sent via email on October 11 to the one absent board member. Board members were allowed 10 days to review the 990 prior to filing.”

Form 990, Part VI, Line 12C Conflict of interest policy

“Every board member, officer and employee is required to sign annually a Conflict of Interest Statement disclosing actual or potential conflicts of interest with the organization. The Compliance Officer has been appointed by the Board to review the disclosure statements and ensure compliance with the Conflict of Interest Policy. Additionally, each board member, officer, and employee is required to disclose actual and potential conflicts of interest in advance of the completion of the organization's investment transactions through Elevate and its subsidiary entities. In the event that there are conflicts of interest that arise that are not related to the organization's investment activities, the board members and staff must disclose the conflict or potential conflict to the compliance officer and abstain from any decision-making as it pertains to the conflict.”

Form 990, Part VI, Line 19 Required documents available to the public

“Financial statements, governing documents, and conflict of interest policies are not required disclosures pursuant to internal revenue code (IRC) Section 6104. These documents are not available to the public at this time.”

Form 990, Part VIII, Line 11D Other Miscellaneous Revenue

“OTHER - Total Revenue: 984, Related or Exempt Function Revenue: , Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: 984;”

Filing and Contact Details

Filer

Filer Name
Elevate Ventures Inc
EIN
27-4118692
Phone
3172520258
Address
50 East 91st St 213, Indianapolis, IN 46240

Signing Officer

Name
Christopher LaMothe
Title
Chief Executive Officer
Signed
2016-10-24
Discuss with paid preparer
Yes

Organization Details

Formed
2010
Legal Domicile
In
Voting Board Members
6
Independent Board Members
4
Employees
15
Volunteers
5

Preparer

Firm
Crowe Horwath Llp
Address
10 West Market Street, Suite 2000, Indianapolis, IN 46204-2975
Preparer
Rachel Spurlock
Phone
3176321100
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G Other Fees

“Consulting Fees - Total Expense: 408013, Program Service Expense: 336443, Management and General Expenses: 71570, Fundraising Expenses: ;”

Financial Statement Notes

Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote

“The Internal Revenue Service has determined that Elevate is a tax-exempt organization as defined in Section 501(c)(3) of the Internal Revenue Code and is exempt from federal income taxes on related income. Elevate is not considered to be a private foundation. Current accounting standards require Elevate to disclose the amount of potential benefit or obligation to be realized as a result of an examination performed by a taxing authority. For the years ended December 31, 2015 and 2014, management has determined that Elevate does not have any tax positions that result in any uncertainties regarding the possible impact on Elevate's financial statements. Elevate does not expect the total amount of unrecognized tax benefits to significantly change in the next 12 months. Elevate recognizes interest and/or penalties related to income tax matters in income tax expense. Elevate did not have any amounts accrued for interest and penalties at December 31, 2015 and 2014.”

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IRS990/Desc0Unlike a typical Venture Capital firm, Elevate Ventures assists startup and scale-up companies with advisory services as well as investment capital. These advisory services are aimed at helping entrepreneurs, particularly first-time business owners, to navigate the complexities of obtaining capital and resources to start or grow their business. INVESTMENT PROGRAMS Elevate Ventures was founded in 2011 to assist the Indiana Economic Development Corporation (IEDC) manage a portfolio of direct capital investments in high-potential Indiana companies and make capital more accessible to Indiana entrepreneurs. Through a subsidiary partnership with the Indiana Economic Development Corporation (IEDC), Elevate manages both direct and indirect investment funds. The separately reportable partnership holds the investment capital and portfolio income/expense and reports earnings via the IRS form 1065 U.S. Return of Partnership Income. Elevate receives funding from the Indiana Economic Development Corporation (IEDC) to manage these investment funds through a Professional Services Agreement and a management fee arrangement for the various funds. In Indiana, venture capital isn't always easy to come by. We strive to make capital dollars more accessible to Indiana startups and entrepreneurs through Elevate Ventures' Direct and Indirect Investment Funds. In fact, Elevate Ventures is one of the largest sources of seed and early-stage capital to support startup and scale-up companies in Indiana. DIRECT INVESTMENT. Elevate Ventures manages 2 direct investment funds, the Indiana 21st Century Fund and the Indiana Angel Network Fund. For every dollar Elevate Ventures has invested in companies since its inception in 2010, an additional $7.8 dollars has been provided from other sources to support further growth. Elevate has made direct investments in excess of $33M in 52 companies with a total leverage of $252M. The high-growth companies Elevate Ventures funds are creating and growing attractive jobs for Indiana residents. At the end of 2015, Elevate Ventures' portfolio companies employed 795 people with an average salary of $67K. Total payroll of Elevate Ventures' portfolio was $53M. INDIRECT INVESTMENT. Elevate Ventures manages 2 Indirect Investment Funds, The Indiana High-Growth Fund, and The Indiana Seed Fund Holdings. In 2015, four Indiana Fund Managers participated in our Indiana High Growth Fund, investing $4.26m to support late-stage companies. The Indiana Seed Fund had six Indiana Fund Managers investing $1.97m in seed and early-stage Indiana companies in 2015. SMALL BUSINESS INNOVATION RESEARCH AND SMALL BUSINESS TECHNOLOGY TRANSFER (SBIR/STTR): Elevate, in partnership with IEDC, through the 21st century Research & Technology Fund provides phase I proposals with a support letter committing $0.50 towards every federal dollar awarded, up to $50k in state matching per federal award with a lifetime maximum of $150k in state matching per company, including affiliates. In 2015, 29 state matching awards to 27 Indiana companies were qualified, totaling $1.4m in state matching dollars against $5m in federal grants. ELEVATE PURDUE FOUNDRY FUND. The Elevate Purdue Foundry Fund is an established partnership between Elevate Ventures, Purdue Foundry and the Indiana Economic Development Corporation (IEDC). The program awards companies funding at two levels - $20K Black Awards followed by the opportunity to also receive an $80K Gold Award. In 2015, 31 companies received Black Awards totaling $620K and 3 companies received Gold Awards totaling $180K. INVESTOR ROADSHOW. As part of Elevate's efforts to build relationships between capital sources and companies, Elevate sponsored the 2nd Annual Investor Roadshow alongside the Innovation Showcase event in Indianapolis in order to facilitate one-on-one introductions of Indiana companies with potential investors. Between 30 venture firms and 90 Indiana companies attended the event and 150 one-on-one meetings took plac
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IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt0Phil Lodato
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt1Kip Tom
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt2Steve Martin
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt3John Schneider
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt4Robert Myer
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt5John Sampson
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt6David Millard
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt7Larry Garatoni
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt8Christopher LaMothe
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt9Barbara Uggen-Davis
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt10Ting Gootee
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt11Kelly Schwedland
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt12Daniel Owen
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt13Robert Clark
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt14Stephen Hourigan
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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt914803
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1019902
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1120447
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1220164
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1314269
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt13139975
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
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IRS990/Form990PartVIISectionAGrp/TitleTxt2Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt3Board Chair, until Jun
IRS990/Form990PartVIISectionAGrp/TitleTxt4Secretary (Jan-Jun) / Board Chair (Jul-Dec))
IRS990/Form990PartVIISectionAGrp/TitleTxt5Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt6Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt7Board Member, as of Dec
IRS990/Form990PartVIISectionAGrp/TitleTxt8Chief Executive Officer (as of July 2015)
IRS990/Form990PartVIISectionAGrp/TitleTxt9Chief Financial Officer
IRS990/Form990PartVIISectionAGrp/TitleTxt10Chief Investment Officer
IRS990/Form990PartVIISectionAGrp/TitleTxt11Entrepreneur-in-Residence
IRS990/Form990PartVIISectionAGrp/TitleTxt12Entrepreneur-in-Residence
IRS990/Form990PartVIISectionAGrp/TitleTxt13Entrepreneur-in-Residence
IRS990/Form990PartVIISectionAGrp/TitleTxt14Former Chief Executive Officer
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IRS990/MissionDesc0Elevate Ventures' mission is to create sustainable entrepreneurial development cultures and infrastructure throughout Indiana and to drive financial and economic returns for Indiana communities. We accomplish this by providing a combination of value-added services through dedicated personnel and engaged experts, and by providing investment capital via both direct investments and fund-of-funds programs. Elevate Ventures serves as a community catalyst by discovering and developing high-performing, high-growth, Indiana-based businesses.
IRS990/MoreThan5000KToIndividualsInd0false
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IRS990/OtherExpensesGrp/Desc0EVENTS AND GIFTS
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IRS990/OtherExpensesGrp/Desc2BAD DEBT
IRS990/OtherExpensesGrp/Desc3PAYROLL PROCESSING
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt05290
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt1580
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt22500
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt3680
IRS990/OtherExpensesGrp/ProgramServicesAmt019618
IRS990/OtherExpensesGrp/ProgramServicesAmt12149
IRS990/OtherExpensesGrp/ProgramServicesAmt22520
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IRS990/OtherExpensesGrp/TotalAmt12729
IRS990/OtherExpensesGrp/TotalAmt22500
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IRS990/OtherSalariesAndWagesGrp/FundraisingAmt09291
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt049164
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0732694
IRS990/OtherSalariesAndWagesGrp/TotalAmt0791149
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IRS990/PledgesAndGrantsReceivableGrp/BOYAmt0352167
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt034167
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt036488
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt034659
IRS990/PrincipalOfcrBusinessName/BusinessNameLine1Txt0Christopher LaMothe
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/BusinessCd1900099
IRS990/ProgramServiceRevenueGrp/Desc0IEDC State Contracts
IRS990/ProgramServiceRevenueGrp/Desc1Management Fees
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt02869476
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1152500
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt02869476
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1152500
IRS990/ProhibitedTaxShelterTransInd0false
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IRS990/PYExcessBenefitTransInd0false
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IRS990/PYOtherExpensesAmt01277111
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IRS990/SavingsAndTempCashInvstGrp/EOYAmt02012136
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0DESCRIPTION - REIMBURSED EXPENSES, COLUMN A - , COLUMN B - , COLUMN C - 1800.0, COLUMN D - 51237.0, COLUMN E - , COLUMN F - 53037.0; DESCRIPTION - OTHER INCOME, COLUMN A - , COLUMN B - , COLUMN C - 1486.0, COLUMN D - 2133.0, COLUMN E - 984.0, COLUMN F - 4603.0;
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0Schedule A, Part II, Line 10 Other Income
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0548563
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt01714937
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0225000
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt02725750
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0921
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0418
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IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0237250

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,555,742
Liabilities
$3,333,874
Net assets
$221,868
Revenue
$3,032,725
Expenses
$2,552,742
Net income
$479,983
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$28.2$5.01$23.2$9.24$10.8$1.58
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$12.0$2.38$9.61$9.96$11.6$1.66
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$13.2$2.85$10.3$6.49$7.98$1.49
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$13.6$2.49$11.1$6.54$6.85$0.31
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$11.0$7.22$3.81$5.85$5.19$0.66
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.85$4.25$5.61$5.33$4.27$1.06
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.77$3.91$4.87$4.64$4.22$0.42
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.50$2.49$6.01$5.51$3.62$1.89
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.30$2.85$3.45$6.08$3.18$2.90
2015Detailed filing. Detailed filing data is available for this year.$3.56$3.33$0.22$3.03$2.55$0.48
2014Detailed filing. Detailed filing data is available for this year.$3.40$0.35$3.05$3.13$3.50$0.37
2013Detailed filing. Detailed filing data is available for this year.$3.50$0.34$3.16$3.95$3.05$0.90
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.62$0.38$2.25$2.66
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.97$0.22$0.75$0.92