Civic Intelligence

Actuate Innovation Inc

EIN 35-2668523 • 501(c)3 • Palo Alto, CA

Profile

Actuate will conduct a portfolio of research programs that can open powerful new options to meet essential societal needs.

555 Bryant St 878Palo Alto, CA 94301

actuateinnovation.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

39th percentile

0.03x

Higher debt load relative to assets than 39% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

42nd percentile

0.05x

Higher debt load relative to revenue than 42% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

81st percentile

31%

Higher net margin than 81% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

96th percentile

$284,102

Higher top officer pay than 96% of similar nonprofits.

Top officer pay equals 11.7% of source-year revenue.

501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

90th percentile

51%

Faster asset growth than 90% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2022

Revenue Growth

52nd percentile

8.3%

Faster revenue growth than 52% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2022

Assets

Down

$0

Down $567,674 (-100%) from 2023

Liabilities

-

No earlier filing loaded for comparison.

Net Assets

Down

$0

Down $555,945 (-100%) from 2023

Revenue

Down

$0

Down $20,280 (-100%) from 2023

Expenses

Down

$17,866

Down $5,193,046 (-100%) from 2023

Net Income

Up

-$17,866

Up $5,172,766 (+100%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$6.0M$4.0M$2.0M$0Assets 2019: $419,875Liabilities 2019: $19,684Net Assets 2019: $400,1912019Assets 2020: $1,915,233Liabilities 2020: $62,931Net Assets 2020: $1,852,3022020Assets 2021: $3,551,752Liabilities 2021: $58,912Net Assets 2021: $3,492,8402021Assets 2022: $4,358,822Liabilities 2022: $112,246Net Assets 2022: $4,246,5762022Assets 2023: $567,674Liabilities 2023: $11,729Net Assets 2023: $555,9452023Assets 2024: $0Net Assets 2024: $02024

Highlighted filing

2024

Assets$0
Liabilities-
Net Assets$0

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$10M$5.0M$0-$5.0M-$10MRevenue 2019: $511,530Expenses 2019: $111,339Net Income 2019: $400,1912019Revenue 2020: $2,064,785Expenses 2020: $612,674Net Income 2020: $1,452,1112020Revenue 2021: $2,542,500Expenses 2021: $901,962Net Income 2021: $1,640,5382021Revenue 2022: $2,422,978Expenses 2022: $1,669,242Net Income 2022: $753,7362022Revenue 2023: $20,280Expenses 2023: $5,210,912Net Income 2023: -$5,190,6322023Revenue 2024: $0Expenses 2024: $17,866Net Income 2024: -$17,8662024

Highlighted filing

2024

Revenue$0
Expenses$17,866
Net Income-$17,866

Filings

Latest Detailed Filing

The latest 2024 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2022 below.

Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 14, 2023
Return Version
2022v5.0
Gross Receipts
$2,422,978
Mission and Program Overview

Mission

Actuate will conduct a portfolio of research programs that can open powerful new options to meet essential societal needs.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$3,503,129$4,280,705▲ $777,576
Accounts Receivable$40,000$67,974▲ $27,974
Prepaid Expenses and Deferred Charges$8,623$10,143▲ $1,520
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$3,551,752$4,358,822▲ $807,070
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses$58,912$112,246▲ $53,334
Total Liabilities$58,912$112,246▲ $53,334
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,424,577$3,746,576▲ $2,321,999
Net Assets With Donor Restrictions$2,068,263$500,000▼ $1,568,263
Total Net Assets Fund Balance$3,492,840$4,246,576▲ $753,736
Total Liabilities and Net Assets / Fund Balance$3,551,752$4,358,822▲ $807,070
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Wade ShenCo-CEOFT$268,021$16,081$284,102
Lara PierpointCo-CEOFT$250,178$13,141$263,319
Arati PrabhakarCEOFT$152,823$9,169$161,992

Board Members and Trustees

NameTitle
Fred KittlerChairman
Margaret LeviDirector

Highest Paid Contractors

ContractorServicesLocationCompensation
Xinkun NieConsulting services-$254,625
Revenue and Support

Revenue Composition

Contributions and Grants
$2,150,000
Program Service Revenue
$272,978
Investment Income
$0
Other Revenue
$0
All Other Contributions
$2,150,000
Change in Net Assets
$753,736

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,422,978
Total Revenue per Audited Statements
$2,422,978
Total Revenue per Form 990
$2,422,978
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,064,447
Other Expenses$554,795
Total Fundraising Expense$133,431
Grants and Similar Amounts Paid$50,000
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$402,011$91,170$19,777$512,958
Current Officers, Directors, Trustees, and Key Employees$240,494$83,660$96,689$420,843
Fees for Services Other$314,295$93,015-$407,310
Payroll Taxes$34,041$14,293$8,553$56,887
Pension Plan Contributions$38,251$7,723$6,830$52,804
Grants to Domestic Orgs$50,000--$50,000
Travel$12,348$30,187-$42,535
Information Technology$2,024$30,242$517$32,783
Fees for Services Accounting-$28,806-$28,806
Other Employee Benefits$15,672$4,323$960$20,955
Insurance-$14,170-$14,170
Conferences and Meetings$6,615$7,252-$13,867
Fees for Services Legal$5,290$2,533-$7,823
Office Expenses$60$7,336$105$7,501
Total Functional Expenses$1,121,101$414,710$133,431$1,669,242

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,669,242
Total Expenses per Audited Statements$1,669,242
Total Expenses per Form 990$1,669,242
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
USC Info Sciences InstituteMarina del Rey, CA-Sub-grant-Actuates DataSafes prog$50,000
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-
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, Section B, Line 11B

The Director of Operations worked with Actuate's accounting firm to draft annual the Form 990 which was then verified and reviewed with the CEO. Prior to the dissolution of Actuate, it was Actuate's policy to have the board of directors review the Form 990.

Form 990, Part VI, Section B, Line 12C

The conflict of interest policy states that each board member will annually complete a disclosure form identifying any relationships, positions, or circumstances in which the board member is involved that could be a conflict of interest. Also, each board member is required to annually review a copy of the conflict of interest policy and acknowledge in writing that he or she has done so.

Form 990, Part VI, Section B, Line 15B

Actuate conducted market research and the board signed off on officer compensation.

Form 990, Part VI, Section C, Line 19

Actuate makes its governing documents, conflict of interest policy, and financial statements available to the public upon reasonable request.

Filing and Contact Details

Filer

Filer Name
Actuate Innovation Inc
EIN
35-2668523
Phone
6506659389
Address
555 Bryant St 878, Palo Alto, CA 94301

Signing Officer

Name
Lara Pierpoint
Title
CEO
Signed
2023-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lara Pierpoint
Formed
2019
Legal Domicile
De
Voting Board Members
4
Independent Board Members
2
Employees
3
Volunteers
2

Preparer

Firm
Shining Star Consulting LLC
Address
2320 Oak St, Berkeley, CA 94708
Preparer
Suzanne Pon
Phone
9257087444
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 3

On December 21, 2022, Actuate Innovation, Inc. (Actuate) decided to discontinue most of its historical operating activities relating to their Actuate Climate program pursuant to a project transfer agreement entered into with Prime Coalition, Inc. Actuate entered into an agreement to transfer all assets and employees related to this program and research to another organization. The transfer of assets will have an impact on Actuate and the continued operations for consulting and DataSafes programs. The disposal date of the program was March 31, 2023.

Financial Statement Notes

Part X : FIN48 Footnote

Actuate is exempt from income taxes under Section 501c3 of the Internal Revenue Code of 1986, as amended, and Section 23701 d of the California Revenue and Taxation Code. To date, there have been no IRS audits performed of the Organization's annual information returns.

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Actuate is exempt from income taxes under Section 501c3 of the Internal Revenue Code of 1986, as amended, and Section 23701 d of the California Revenue and Taxation Code. To date, there have been no IRS audits performed of the Organization's annual information returns.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
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IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0Sub-grant-Actuates DataSafes prog
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0USC Info Sciences Institute
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IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt04676 Admiralty Way Ste 1001
IRS990ScheduleI/RecipientTable/USAddress/CityNm0Marina del Rey
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0Actuate requires final narrative and financial reports to be delivered with 60 days after the end of the grant period, or the completion of the use of the grant funds, whichever comes sooner. If for any reason the period of the grant exceeds one year, Actuate requires interim narrative and financial reports every six months.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0Grantmaker's Description of How Grants are Used
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0On December 21, 2022, Actuate Innovation, Inc. (Actuate) decided to discontinue most of its historical operating activities relating to their Actuate Climate program pursuant to a project transfer agreement entered into with Prime Coalition, Inc. Actuate entered into an agreement to transfer all assets and employees related to this program and research to another organization. The transfer of assets will have an impact on Actuate and the continued operations for consulting and DataSafes programs. The disposal date of the program was March 31, 2023.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The Director of Operations worked with Actuate's accounting firm to draft annual the Form 990 which was then verified and reviewed with the CEO. Prior to the dissolution of Actuate, it was Actuate's policy to have the board of directors review the Form 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The conflict of interest policy states that each board member will annually complete a disclosure form identifying any relationships, positions, or circumstances in which the board member is involved that could be a conflict of interest. Also, each board member is required to annually review a copy of the conflict of interest policy and acknowledge in writing that he or she has done so.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Actuate conducted market research and the board signed off on officer compensation.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Actuate makes its governing documents, conflict of interest policy, and financial statements available to the public upon reasonable request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part III, Line 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, Line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section C, Line 19
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