Civic Intelligence

Xlerate Health Inc

EIN 46-1319390 • 501(c)3 • Crestwood, KY

Profile

Operation of a business accelerator program providing educational resources and training to entrepreneurs involved with early-stage healthcare companies.

PO Box 413Crestwood, KY 40014

www.xleratehealth.com

Siviq Scores

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

Liabilities / Assets

83rd percentile

0.38x

Higher debt load relative to assets than 83% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Liabilities / Revenue

94th percentile

1.68x

Higher debt load relative to revenue than 94% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Net Margin

59th percentile

8.8%

Higher net margin than 59% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Top Officer Pay

59th percentile

$20,000

Higher top officer pay than 59% of similar nonprofits.

Top officer pay equals 17.0% of source-year revenue.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Asset Growth

14th percentile

-19%

Faster asset growth than 14% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Revenue Growth

2nd percentile

-80%

Faster revenue growth than 2% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets83rd percentile

Assets

Down

$519,389

Down $125,631 (-19%) from 2023

Liabilities

Down

$197,658

Down $23,508 (-11%) from 2023

Net Assets

Down

$321,731

Down $102,123 (-24%) from 2023

Operations
Liabilities / Revenue94th percentileNet Margin59th percentile

Revenue

Down

$117,500

Down $485,000 (-80%) from 2023

Expenses

Down

$107,123

Down $24,375 (-19%) from 2023

Net Income

Down

$10,377

Down $460,625 (-98%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth14th percentile

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

$1.0M$500K$0-$500KAssets 2013: $106,060Liabilities 2013: $100,000Net Assets 2013: $6,0602013Assets 2014: $117,175Liabilities 2014: $51,937Net Assets 2014: $65,2382014Assets 2015: $50,291Liabilities 2015: $8,413Net Assets 2015: $41,8782015Assets 2016: $49,413Liabilities 2016: $90Net Assets 2016: $49,3232016Assets 2017: $259,318Liabilities 2017: $276,206Net Assets 2017: -$16,8882017Assets 2018: $237,944Liabilities 2018: $320,000Net Assets 2018: -$82,0562018Assets 2019: $412,572Liabilities 2019: $230,011Net Assets 2019: $182,5612019Assets 2020: $461,978Liabilities 2020: $305,282Net Assets 2020: $156,6962020Assets 2021: $727,172Liabilities 2021: $419,349Net Assets 2021: $307,8232021Assets 2022: $287,919Liabilities 2022: $335,067Net Assets 2022: -$47,1482022Assets 2023: $645,020Liabilities 2023: $221,166Net Assets 2023: $423,8542023Assets 2024: $519,389Liabilities 2024: $197,658Net Assets 2024: $321,7312024

Highlighted filing

2024

Assets$519,389
Liabilities$197,658
Net Assets$321,731
Open 2024 Filing

Operations Trend

Revenue Growth2nd percentile

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

$1.0M$500K$0-$500KRevenue 2013: $146,000Expenses 2013: $139,940Net Income 2013: $6,0602013Revenue 2014: $258,086Expenses 2014: $198,907Net Income 2014: $59,1792014Revenue 2015: $225,684Expenses 2015: $249,044Net Income 2015: -$23,3602015Revenue 2016: $220,184Expenses 2016: $212,739Net Income 2016: $7,4452016Revenue 2017: $101,700Expenses 2017: $167,911Net Income 2017: -$66,2112017Revenue 2018: $103,701Expenses 2018: $168,869Net Income 2018: -$65,1682018Revenue 2019: $885,259Expenses 2019: $620,642Net Income 2019: $264,6172019Revenue 2020: $336,060Expenses 2020: $361,925Net Income 2020: -$25,8652020Revenue 2021: $410,400Expenses 2021: $259,273Net Income 2021: $151,1272021Revenue 2022: $50,000Expenses 2022: $404,971Net Income 2022: -$354,9712022Revenue 2023: $602,500Expenses 2023: $131,498Net Income 2023: $471,0022023Revenue 2024: $117,500Expenses 2024: $107,123Net Income 2024: $10,3772024

Highlighted filing

2024

Revenue$117,500
Expenses$107,123
Net Income$10,377
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$519,389
Liabilities
$197,658
Net assets
$321,731
Revenue
$117,500
Expenses
$107,123
Net income
$10,377
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$5.19$1.98$3.22$1.18$1.07$0.10
2023Detailed filing. Detailed filing data is available for this year.$6.45$2.21$4.24$6.03$1.31$4.71
2022Detailed filing. Detailed filing data is available for this year.$2.88$3.35$0.47$0.50$4.05$3.55
2021Detailed filing. Detailed filing data is available for this year.$7.27$4.19$3.08$4.10$2.59$1.51
2020Detailed filing. Detailed filing data is available for this year.$4.62$3.05$1.57$3.36$3.62$0.26
2019Detailed filing. Detailed filing data is available for this year.$4.13$2.30$1.83$8.85$6.21$2.65
2018Detailed filing. Detailed filing data is available for this year.$2.38$3.20$0.82$1.04$1.69$0.65
2017Detailed filing. Detailed filing data is available for this year.$2.59$2.76$0.17$1.02$1.68$0.66
2016Detailed filing. Detailed filing data is available for this year.$0.49$0.00$0.49$2.20$2.13$0.07
2015Detailed filing. Detailed filing data is available for this year.$0.50$0.08$0.42$2.26$2.49$0.23
2014Detailed filing. Detailed filing data is available for this year.$1.17$0.52$0.65$2.58$1.99$0.59
2013Detailed filing. Detailed filing data is available for this year.$1.06$1.00$0.06$1.46$1.40$0.06
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 14, 2025
Return Version
2024v5.2
Gross Receipts
$117,500
Mission and Program Overview

Mission

Operation of a business accelerator program providing educational resources and training to entrepreneurs involved with early-stage healthcare companies.

Providing educational resources and training to entrepreneurs involved with early-stage healthcare startups.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$644,042$518,411▼ $125,631
Rtn Earn Endowment Incm Other Fnds$306,354$321,731▲ $15,377
Total Assets$645,020$519,389▼ $125,631
Other Assets Total$978$978→ $0
Liabilities
Accounts Payable and Accrued Expenses$221,166$197,658▼ $23,508
Deferred Revenue$117,500--
Total Liabilities$338,666$197,658▼ $141,008
Net Assets / Fund Balance
Total Net Assets Fund Balance$306,354$321,731▲ $15,377
Total Liabilities and Net Assets / Fund Balance$645,020$519,389▼ $125,631

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings-$14,458$14,458
Compensation and Service Providers
Top Officer Pay59th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Jacqueline WillmotChief Executive OfficerPT$20,000$20,000

Board Members and Trustees

NameTitle
Robert SaundersExecutive Chairman Director
Ted SmithDirector
William StrenchSecretary and Director
Revenue and Support

Revenue Composition

Contributions and Grants
$117,500
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$10,377
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$62,323
Salaries, Compensation, and Employee Benefits$44,800
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$25,000$6,134-$25,000
Other Salaries and Wages$24,800--$24,800
Current Officers, Directors, Trustees, and Key Employees$20,000--$20,000
Fees for Services Accounting$7,988$2,662-$10,650
Fees for Services Legal-$102-$102
Total Functional Expenses$96,190$10,933$0$107,123
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal income taxes-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Xlerate Health Inc
EIN
46-1319390
Phone
5025508185
Address
PO BOX 413, Crestwood, KY 40014

Signing Officer

Name
Robert Saunders
Title
Officer
Phone
5025508185
Signed
2025-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Robert Saunders
Formed
2013
Legal Domicile
Ky
Voting Board Members
3
Independent Board Members
3
Employees
0

Preparer

Firm
DeSalvo and Company Inc
Address
9987 Carver Rd STE 210, Cincinnati, OH 45242
Preparer
Mark S DeSalvo CPA
Phone
5137694515
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Section A, Line 7

“Multiple 1099 contractors were hired in order to assist in the achievement of the program services for the u of l research foundation program, the demo day program, the start up boot camp programs, the building of the healthcare ecosystem, and all other activities of advancing entrepreneurial education in the healthcare and related sectors.”

Form 990, Part XI, Line 8

“In 2024, the organization identified a prior period error related to grant income that was not recognized in 2023 as required. A 5,000 grant, which became unconditional and earned in 2023, was inadvertently omitted from that years financial records due to an oversight.As a result, net assets at the beginning of 2024 were understated by 5,000. In accordance with generally accepted accounting principles GAAP, a prior period adjustment was recorded in 2024 to correct this error. The adjustment increased beginning net assets by 5,000 and is reported on Part XI, Line 9 of Form 990.”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0MULTIPLE 1099 CONTRACTORS WERE HIRED IN ORDER TO ASSIST IN THE ACHIEVEMENT OF THE PROGRAM SERVICES FOR THE U OF L RESEARCH FOUNDATION PROGRAM, THE DEMO DAY PROGRAM, THE START UP BOOT CAMP PROGRAMS, THE BUILDING OF THE HEALTHCARE ECOSYSTEM, AND ALL OTHER ACTIVITIES OF ADVANCING ENTREPRENEURIAL EDUCATION IN THE HEALTHCARE AND RELATED SECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1In 2024, the organization identified a prior period error related to grant income that was not recognized in 2023 as required. A 5,000 grant, which became unconditional and earned in 2023, was inadvertently omitted from that years financial records due to an oversight.As a result, net assets at the beginning of 2024 were understated by 5,000. In accordance with generally accepted accounting principles GAAP, a prior period adjustment was recorded in 2024 to correct this error. The adjustment increased beginning net assets by 5,000 and is reported on Part XI, Line 9 of Form 990.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part IX, Section A, Line 7
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part XI, Line 8
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0KY
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0645020
IRS990/TotalAssetsEOYAmt0519389
IRS990/TotalAssetsGrp/BOYAmt0645020
IRS990/TotalAssetsGrp/EOYAmt0519389
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0117500
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt010933
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt096190
IRS990/TotalFunctionalExpensesGrp/TotalAmt0107123
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0338666
IRS990/TotalLiabilitiesEOYAmt0197658
IRS990/TotalLiabilitiesGrp/BOYAmt0338666
IRS990/TotalLiabilitiesGrp/EOYAmt0197658
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0306354
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0321731
IRS990/TotalProgramServiceExpensesAmt096190
IRS990/TotalReportableCompFromOrgAmt020000
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0117500
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0645020
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0519389
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 413
IRS990/USAddress/CityNm0CRESTWOOD
IRS990/USAddress/StateAbbreviationCd0KY
IRS990/USAddress/ZIPCd040269
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0www.xleratehealth.com
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0ROBERT SAUNDERS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0OFFICER
ReturnHeader/BusinessOfficerGrp/PhoneNum05025508185
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-11-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0XLERATE HEALTH INC
ReturnHeader/Filer/BusinessNameControlTxt0XLER
ReturnHeader/Filer/EIN0461319390
ReturnHeader/Filer/PhoneNum05025508185
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 413
ReturnHeader/Filer/USAddress/CityNm0Crestwood
ReturnHeader/Filer/USAddress/StateAbbreviationCd0KY
ReturnHeader/Filer/USAddress/ZIPCd040014
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0452645324
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0DeSalvo and Company Inc
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt09987 Carver Rd STE 210
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Cincinnati
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0OH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd045242
ReturnHeader/PreparerPersonGrp/PhoneNum05137694515
ReturnHeader/PreparerPersonGrp/PreparationDt02025-11-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Mark S DeSalvo CPA
ReturnHeader/ReturnTs02025-11-14T03:17:58-00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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