Civic Intelligence

Actuate Innovation Inc

990 • Fiscal year 2021 • EIN 35-2668523

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 10, 2022

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

34th percentile

0.02x

Higher debt load relative to assets than 34% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

32nd percentile

0.02x

Higher debt load relative to revenue than 32% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

92nd percentile

65%

Higher net margin than 92% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

94th percentile

$265,000

Higher top officer pay than 94% of similar nonprofits.

Top officer pay equals 10.4% of source-year revenue.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

92nd percentile

85%

Faster asset growth than 92% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

61st percentile

23%

Faster revenue growth than 61% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets34th percentile

Assets

Up

$3,551,752

Up $1,636,519 (+85%) from 2020

Net Assets

Up

$3,492,840

Up $1,640,538 (+89%) from 2020

Liabilities

Down

$58,912

Down $4,019 (-6.4%) from 2020

Revenue And Expenses
Liabilities / Revenue32nd percentileNet Margin92nd percentile

Revenue

Up

$2,542,500

Up $477,715 (+23%) from 2020

Expenses

Up

$901,962

Up $289,288 (+47%) from 2020

Net Income

Up

$1,640,538

Up $188,427 (+13%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth92nd 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

2021

Assets$3,551,752
Liabilities$58,912
Net Assets$3,492,840
Open 2021 Filing

Operations Trend

Revenue Growth61st 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

2021

Revenue$2,542,500
Expenses$901,962
Net Income$1,640,538
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 10, 2022
Return Version
2021v4.0
Gross Receipts
$2,542,500
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$1,576,116$3,503,129▲ $1,927,013
Accounts Receivable$333,705$40,000▼ $293,705
Prepaid Expenses and Deferred Charges$5,412$8,623▲ $3,211
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$1,915,233$3,551,752▲ $1,636,519
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses$25,431$58,912▲ $33,481
Deferred Revenue$37,500--
Total Liabilities$62,931$58,912▼ $4,019
Net Assets / Fund Balance
Net Assets With Donor Restrictions$936,753$2,068,263▲ $1,131,510
Net Assets Without Donor Restrictions$915,549$1,424,577▲ $509,028
Total Net Assets Fund Balance$1,852,302$3,492,840▲ $1,640,538
Total Liabilities and Net Assets / Fund Balance$1,915,233$3,551,752▲ $1,636,519
Compensation and Service Providers
Top Officer Pay94th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Wade ShenChief Program OfficerFT$250,000$15,000$265,000
Lara PierpointDirector of ClimateFT$206,250$8,814$215,064

Board Members and Trustees

NameTitle
Fred KittlerChairman
Arati PrabhakarPresident & CEO
Margaret LeviDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$2,325,000
Program Service Revenue
$217,500
Investment Income
$0
Other Revenue
$0
All Other Contributions
$2,325,000
Change in Net Assets
$1,640,538

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,542,500
Total Revenue per Audited Statements
$2,542,500
Total Revenue per Form 990
$2,542,500
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$661,502
Other Expenses$164,560
Grants and Similar Amounts Paid$75,000
Total Fundraising Expense$55,705
Professional Fundraising Fees$900

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$235,424$54,539$48,417$338,380
Current Officers, Directors, Trustees, and Key Employees$243,036$10,005-$253,041
Fees for Services Other$38,196$70,301-$108,497
Grants to Domestic Orgs$75,000--$75,000
Payroll Taxes$26,966$4,909$2,904$34,779
Pension Plan Contributions$25,193$3,686$2,135$31,014
Fees for Services Accounting-$26,633-$26,633
Insurance-$10,356-$10,356
Travel-$6,577-$6,577
Office Expenses$388$5,597-$5,985
Information Technology$1,363$2,680$1,029$5,072
Other Employee Benefits$1,787$2,181$320$4,288
Conferences and Meetings$291$776-$1,067
Fees for Services Professional Fundraising--$900$900
Fees for Services Legal-$373-$373
Total Functional Expenses$647,644$198,613$55,705$901,962

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$901,962
Total Expenses per Audited Statements$901,962
Total Expenses per Form 990$901,962
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
USC Info Sciences InstituteMarina del Rey, CA-Sub-grant-Actuates DataSafes prog$75,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$900
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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 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
Wade Shen
Title
Chief Program Officer
Signed
2022-11-10
Discuss with paid preparer
Yes

Organization Details

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

Preparer

Firm
Shining Star Consulting LLC
Address
2320 Oak St, Berkeley, CA 94708
Preparer
Monte Meyers
Phone
5109996712
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

“Actuate is exempt from income taxes under Section 501(c)(3) 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/ExpensesSubtotalAmt0901962
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/RevenueSubtotalAmt02542500
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Actuate is exempt from income taxes under Section 501(c)(3) 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
IRS990ScheduleD/TotalExpensesPerForm990Amt0901962
IRS990ScheduleD/TotalRevenuePerForm990Amt02542500
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02542500
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0901962
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IRS990ScheduleI/RecipientTable/CashGrantAmt075000
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
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
IRS990ScheduleI/RecipientTable/USAddress/CityNm0Marina del Rey
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0CA
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd090292
IRS990ScheduleI/RecipientTable/ValuationMethodUsedDesc0FMV
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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IRS990ScheduleI/TotalOtherOrgCnt00
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt1250000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt08814
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt115000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0Lara Pierpoint
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1Wade Shen
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0Director of Climate
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1Chief Program Officer
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0215064
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt1265000
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The 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/ExplanationTxt1The 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/ExplanationTxt2Actuate 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/ExplanationTxt3Actuate 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 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0647644
IRS990/TotalFunctionalExpensesGrp/TotalAmt0901962
IRS990/TotalGrossUBIAmt00
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IRS990/TotalOtherCompensationAmt023814
IRS990/TotalProgramServiceExpensesAmt0647644
IRS990/TotalProgramServiceRevenueAmt0217500
IRS990/TotalReportableCompFromOrgAmt0456250
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02542500
IRS990/TotalVolunteersCnt03
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IRS990/USAddress/AddressLine1Txt0555 Bryant St 878
IRS990/USAddress/CityNm0Palo Alto
IRS990/USAddress/StateAbbreviationCd0CA

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,551,752
Liabilities
$58,912
Net assets
$3,492,840
Revenue
$2,542,500
Expenses
$901,962
Net income
$1,640,538
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
2021Detailed filing. Detailed filing data is available for this year.$3.55$0.06$3.49$2.54$0.90$1.64
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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