Civic Intelligence

Actuate Innovation Inc

990 • Fiscal year 2020 • EIN 35-2668523

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 11, 2021

Organization Profileactuateinnovation.org

View Organization Page

555 Bryant St 878Palo Alto, CA 94301

(650) 665-9389

Siviq Scores

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

Liabilities / Assets

36th percentile

0.03x

Higher debt load relative to assets than 36% of similar nonprofits.

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

Liabilities / Revenue

28th percentile

0.03x

Higher debt load relative to revenue than 28% of similar nonprofits.

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

Net Margin

95th percentile

70%

Higher net margin than 95% of similar nonprofits.

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

Top Officer Pay

91st percentile

$209,792

Higher top officer pay than 91% of similar nonprofits.

Top officer pay equals 10.2% of source-year revenue.

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

Asset Growth

98th percentile

356%

Faster asset growth than 98% of similar nonprofits.

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

Revenue Growth

97th percentile

304%

Faster revenue growth than 97% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets36th percentile

Assets

Up

$1,915,233

Up $1,495,358 (+356%) from 2019

Net Assets

Up

$1,852,302

Up $1,452,111 (+363%) from 2019

Liabilities

Up

$62,931

Up $43,247 (+220%) from 2019

Revenue And Expenses
Liabilities / Revenue28th percentileNet Margin95th percentile

Revenue

Up

$2,064,785

Up $1,553,255 (+304%) from 2019

Expenses

Up

$612,674

Up $501,335 (+450%) from 2019

Net Income

Up

$1,452,111

Up $1,051,920 (+263%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth98th percentile

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

$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

2020

Assets$1,915,233
Liabilities$62,931
Net Assets$1,852,302
Open 2020 Filing

Operations Trend

Revenue Growth97th percentile

Revenue, expenses, and net income across loaded years, with this 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

2020

Revenue$2,064,785
Expenses$612,674
Net Income$1,452,111
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 11, 2021
Return Version
2020v4.0
Gross Receipts
$2,064,785
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$419,875$1,576,116▲ $1,156,241
Accounts Receivable-$333,705-
Prepaid Expenses and Deferred Charges-$5,412-
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$419,875$1,915,233▲ $1,495,358
Other Assets Total-$0-
Liabilities
Deferred Revenue-$37,500-
Accounts Payable and Accrued Expenses$19,684$25,431▲ $5,747
Total Liabilities$19,684$62,931▲ $43,247
Net Assets / Fund Balance
Net Assets With Donor Restrictions-$936,753-
Net Assets Without Donor Restrictions$400,191$915,549▲ $515,358
Total Net Assets Fund Balance$400,191$1,852,302▲ $1,452,111
Total Liabilities and Net Assets / Fund Balance$419,875$1,915,233▲ $1,495,358
Compensation and Service Providers
Top Officer Pay91st percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Wade ShenSec, Treas & Chief Prog OffFT$197,917$11,875$209,792

Board Members and Trustees

NameTitle
Fred KittlerChairman
Arati PrabhakarPresident & CEO
Revenue and Support

Revenue Composition

Contributions and Grants
$1,901,285
Program Service Revenue
$162,500
Investment Income
$0
Other Revenue
$1,000
All Other Contributions
$1,901,285
Change in Net Assets
$1,452,111

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,064,785
Total Revenue per Audited Statements
$2,064,785
Total Revenue per Form 990
$2,064,785
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$298,637
Other Expenses$189,037
Grants and Similar Amounts Paid$125,000
Total Fundraising Expense$9,299
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$166,080$47,661-$213,741
Fees for Services Other$58,463$90,488-$148,951
Grants to Domestic Orgs$125,000--$125,000
Other Salaries and Wages$11,300$32,600$6,100$50,000
Information Technology-$14,694$1,729$16,423
Payroll Taxes$10,671$5,118$495$16,284
Pension Plan Contributions$10,019$3,721$235$13,975
Travel$675$5,979-$6,654
Insurance-$5,210-$5,210
Fees for Services Legal-$4,709-$4,709
Other Employee Benefits$2,483$1,514$640$4,637
Fees for Services Accounting-$3,532-$3,532
Office Expenses$60$3,216$100$3,376
Conferences and Meetings-$182-$182
Total Functional Expenses$384,751$218,624$9,299$612,674

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$612,674
Total Expenses per Audited Statements$612,674
Total Expenses per Form 990$612,674
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
USC Info Sciences InstituteMarina del Rey, CA-Sub-grant-Actuates DataSafes prog$125,000
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
No
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 8: Explanation of No Contemporaneously Documentation of Meetings

“Actuate Innovation does not have any committees to act on behalf of the Board.”

Form 990, Part VI, Line 11B: Form 990 Review Process

“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 and Chief Program Officer. Prior to filing, the final draft of the Form 990 was reviewed by the board of directors.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“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, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

“Actuate looked at the Form 990s of comparable organizations and reviewed the comps with the board, which voted on and approved officer Wade Shen's salary.”

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

“Actuate Innovation 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
Arati Prabhakar
Title
President & CEO
Signed
2021-11-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Arati Prabhakar
Formed
2019
Legal Domicile
De
Voting Board Members
3
Independent Board Members
1
Employees
2

Preparer

Firm
Shining Star Consulting LLC
Address
2320 Oak St, Berkeley, CA 94708
Preparer
Monte Meyers
Phone
5109996712
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IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0Sub-grant-Actuates DataSafes prog
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0USC Info Sciences Institute
IRS990ScheduleI/RecipientTable/RecipientEIN0951642394
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt04676 Admiralty Way Ste 1001
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0The grantee submits a budget and proposal. The grantee has regular meetings with Actuate and must submit an interim and final report and technical report detailing their work and findings.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0Grantmaker's Description of How Grants are Used
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0Sec, Treas & Chief Prog Off
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Actuate Innovation does not have any committees to act on behalf of the Board.
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 and Chief Program Officer. Prior to filing, the final draft of the Form 990 was reviewed by the board of directors.
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 looked at the Form 990s of comparable organizations and reviewed the comps with the board, which voted on and approved officer Wade Shen's salary.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Actuate Innovation makes its governing documents, conflict of interest policy, and financial statements available to the public upon reasonable request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 8: Explanation of No Contemporaneously Documentation of Meetings
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Arati Prabhakar
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President & CEO
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,915,233
Liabilities
$62,931
Net assets
$1,852,302
Revenue
$2,064,785
Expenses
$612,674
Net income
$1,452,111
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.00$0.00$0.00$0.02$0.02
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.57$0.01$0.56$0.02$5.21$5.19
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.36$0.11$4.25$2.42$1.67$0.75
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.55$0.06$3.49$2.54$0.90$1.64
2020Detailed filing. Detailed filing data is available for this year.$1.92$0.06$1.85$2.06$0.61$1.45
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.42$0.02$0.40$0.51$0.11$0.40