Civic Intelligence

Quatere

990 • Fiscal year 2018 • EIN 46-3446895

Jan 01, 2018 to Dec 31, 2018 • Filed on Dec 10, 2019

PO Box 1042Salt Lake City, UT 84103-1042

(801) 368-7978

Siviq Scores

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

Liabilities / Assets

27th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Liabilities / Revenue

27th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Net Margin

62nd percentile

8.6%

Higher net margin than 62% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Top Officer Pay

53rd percentile

$12,812

Higher top officer pay than 53% of similar nonprofits.

Top officer pay equals 1.7% of source-year revenue.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Asset Growth

98th percentile

267%

Faster asset growth than 98% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Revenue Growth

85th percentile

45%

Faster revenue growth than 85% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Assets

Up

$89,077

Up $64,794 (+267%) from 2017

Net Assets

Up

$89,077

Up $64,794 (+267%) from 2017

Liabilities

Flat

$0

Flat from 2017

Revenue

Up

$755,894

Up $233,995 (+45%) from 2017

Expenses

Up

$691,100

Up $191,023 (+38%) from 2017

Net Income

Up

$64,794

Up $42,972 (+197%) from 2017

Historical Trend

Balance Sheet Trend

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

$100K$50K$0Assets 2014: $80,237Liabilities 2014: $02014Assets 2015: $7,059Liabilities 2015: $02015Assets 2016: $2,461Liabilities 2016: $0Net Assets 2016: $2,4612016Assets 2017: $24,283Liabilities 2017: $0Net Assets 2017: $24,2832017Assets 2018: $89,077Liabilities 2018: $0Net Assets 2018: $89,0772018Assets 2019: $5,236Liabilities 2019: $0Net Assets 2019: $5,2362019

Highlighted filing

2018

Assets$89,077
Liabilities$0
Net Assets$89,077

Operations Trend

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

$1.0M$500K$0-$500KRevenue 2014: $191,831Expenses 2014: $111,593Net Income 2014: $80,2382014Revenue 2015: $90,000Expenses 2015: $163,178Net Income 2015: -$73,1782015Revenue 2016: $207,964Expenses 2016: $212,562Net Income 2016: -$4,5982016Revenue 2017: $521,899Expenses 2017: $500,077Net Income 2017: $21,8222017Revenue 2018: $755,894Expenses 2018: $691,100Net Income 2018: $64,7942018Revenue 2019: $239,993Expenses 2019: $323,834Net Income 2019: -$83,8412019

Highlighted filing

2018

Revenue$755,894
Expenses$691,100
Net Income$64,794
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Dec 10, 2019
Return Version
2018v3.1
Gross Receipts
$755,894
Mission and Program Overview

Mission

Quatere's mission is to provide economic freedom for individuals through entrepreneurship. We help entrepreneurs create products, services, firms and jobs. Quatere makes people better people.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$24,283$89,077▲ $64,794
Total Assets$24,283$89,077▲ $64,794
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$24,283$89,077▲ $64,794
Total Net Assets Fund Balance$24,283$89,077▲ $64,794
Total Liabilities and Net Assets / Fund Balance$24,283$89,077▲ $64,794
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Ainsley LloydPresident/ DPT$12,812$12,812

Board Members and Trustees

NameTitle
Ken KrullDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$755,894
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$435,245
Change in Net Assets
$64,794
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$678,288
Salaries, Compensation, and Employee Benefits$12,812
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$366,355--$366,355
Fees for Services Management$225,426$4,600-$230,026
Travel$42,179$31-$42,210
Other Expenses$15,356--$15,356
Current Officers, Directors, Trustees, and Key Employees$12,453$359-$12,812
Conferences and Meetings$2,816$78-$2,894
Office Expenses$2,544$123-$2,667
Fees for Services Accounting$806$70-$876
Advertising$360--$360
Insurance$69$4-$73
Information Technology$64--$64
Total Functional Expenses$685,835$5,265$0$691,100
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

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-PartnerIndependent ConsultaNo$230,025
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with family members
No
Business relationship with organization members
Yes
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
No
Key decisions subject to board approval
Yes
Management duties delegated
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

Ak group was contracted by the voting members to manage the day to day operations.

Form 990, Page 6, Part VI, Line 6

This entity is was organized with members

Form 990, Page 6, Part VI, Line 7B

All decisions, except day to day opertions, decided by the 4 voting members.

Form 990, Page 6, Part VI, Line 11B

The tax return was printed and presented to each board member for review before filing.

Form 990, Page 6, Part VI, Line 12C

Members of quatere's governing board who are not involved with a potential conflict have full autonomy to enforce the conflict of interest policy.

Form 990, Page 6, Part VI, Line 15A

All officer, director and top management pay is subject to the approval of the board of directors.

Form 990, Page 6, Part VI, Line 15B

All officers and key employees pay is subject to review annually by the board of directos.

Form 990, Page 6, Part VI, Line 19

The documents are held by ainsey lloyd, 801-893-1989. Ms. Lloyd is available by phone or mail and would have the documents ready for view at the quatere offices upon request.

Filing and Contact Details

Filer

Filer Name
Quatere
EIN
46-3446895
Phone
8013687978
Address
PO BOX 1042, SALT LAKE CITY, UT 84103-1042

Signing Officer

Name
Ainsley Lloyd
Title
President/ Director
Phone
8013687978
Signed
2019-12-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ainsley Lloyd
Formed
2013
Legal Domicile
Ut
Voting Board Members
4
Independent Board Members
4
Employees
0
Volunteers
75

Preparer

Firm
Vickie Dean & Associates
Address
1888 S MAIN ST, SALT LAKE CITY, UT 84115
Preparer
Vickie L Dean
Phone
8014843472
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Part I, Line 6

Volunteers contribute time helping peers with their business concepts including reviewing objectives and key results, judging alignment between participants long and short term goals and solving specific problems and business concepts. Volunteers also build the curriculum, trian new facilitators, recruit new participants as well as gather and analyze performance metrics.

Form 990, Page 2, Part III, Line 4A

We identify promising creators of value and help them be productive. We organize them in focused groups to create opportunities, evaluate those opportunities and determine whether they fit their own skill sets. In this business inception program we teach precision execution, hypothesis testing, reporting and proper povernance to our participants. Educational events are run by the participants themselves and are education focused, designed for the current problems that the entrepreneurs encounter. For new regions we provide a set of openly published documents and best practices to build their program. Frequently our alumni visit these new programs to coach the new directors. Sometimes our alumni become directors when they move to new regions and build programs of their own. Sometimes we provide money for these programs but typically they become funded by the region. We build a set of tools to help directors manage their programs and to help us measure their success.

Form 990, Page 2, Part III, Line 4B

Quatere seeks to create and implement its innovative next generation early stage umbrella fund to inject much needed sustainable funding options for early stage and startup companies in the intermountain region and beyond. The fund is expected to result in new job creation and incrase the availability of capital and technical assistance to early stage companies in the region. The fund structure will: provide stong returns; meet cra, sba and other economic development objectives; have stong alignment between general partners and limited partners; and address the market dynamics of startups getting farther with smaller amounts of capital. Quatere intends to create a seed fund model that can successfully be implemented in other similar markets, and intends to publish best practices for the fund in the creative commons.

Form 990, Part IX, Line 11G

Squarehook 26,472 0 0 i5 consult services 339,883 0 0 total 366,355 0 0

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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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IRS990/ProgSrvcAccomActy2Grp/Desc0QUATERE SEEKS TO CREATE AND IMPLEMENT ITS INNOVATIVE NEXT GENERATION EARLY STAGE UMBRELLA FUND TO INJECT MUCH NEEDED SUSTAINABLE FUNDING OPTIONS FOR EARLY STAGE AND STARTUP COMPANIES IN THE INTERMOUNTAIN REGION AND BEYOND. THE FUND IS EXPECTED TO RESULT IN NEW JOB CREATION AND INCRASE THE AVAILABILITY OF CAPITAL AND TECHNICAL ASSISTANCE TO EARLY STAGE COMPANIES IN THE REGION. THE FUND STRUCTURE WILL: PROVIDE STONG RETURNS; MEET CRA, SBA AND OTHER ECONOMIC DEVELOPMENT OBJECTIVES; HAVE STONG ALIGNMENT BETWEEN GENERAL PARTNERS AND LIMITED PARTNERS; AND ADDRESS THE MARKET DYNAMICS OF STARTUPS GETTING FARTHER WITH SMALLER AMOUNTS OF CAPITAL. QUATERE INTENDS TO CREATE A SEED FUND MODEL THAT CAN SUCCESSFULLY BE IMPLEMENTED IN OTHER SIMILAR MARKETS, AND INTENDS TO PUBLISH BEST PRACTICES FOR THE FUND IN THE CREATIVE COMMONS.
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IRS990/ProgSrvcAccomActy3Grp/Desc0ECOSYSTEM MAPPING AND RESEARCH QUATERE, IN PARTNERSHIP WITH ENDEVOR INSIGHT, IS MAPPING UTAH'S ENTREPRENEURIAL ECOSYSTEM. TOGETHER, QUATERE AND ENDEVOR ARE PRODUCING THE FIRST COMPREHENSIVE ANALYSIS OF THE ENTREPRENEURIAL ECOSYSTEM THAT IS ESTABLISHING UTAH AS A HUB OF INNOVATION. MAPPING UTAH IS MODIELED AFTER ENDEAVOR'S MUCH-PUBLICIXED NYCTECHMAP. THE GOALS ARE TO: UNDERSTAND WHAT INFLUENCES AND DRIVES INNOVATION IN UTAH; PROVIDE A BASIS FOR ACADEMIC AND POLICY STUDIES. PRODUCE INTERACTIVE MAPS THAT ILLUSTRATE THE INFLUENCE OF VARIOUS ACTORS ON THE ENTRPENEURIAL ECOSYSTEM. FURTHER ESTABLISH UTAH AS A LEADER IN REGIONAL INNOVATION.
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IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt0KEN KRULL PRESIDENT WAS A PARTNER WITH AK GROUP WHICH PROVIDED INDEPENDENT CONSULTING. KEN KRULL RESIGNED AS PRESIDENT PART WAY THROUGH 2016 TO AVOID ANY CONFLICT OF INTEREST. KEN KRULL IS CURRENTLY A DIRECTOR BUT HAS NO VOTING POWER OR AUTHORIZATION POWER.
IRS990ScheduleL/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE L, PART V
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0VOLUNTEERS CONTRIBUTE TIME HELPING PEERS WITH THEIR BUSINESS CONCEPTS INCLUDING REVIEWING OBJECTIVES AND KEY RESULTS, JUDGING ALIGNMENT BETWEEN PARTICIPANTS LONG AND SHORT TERM GOALS AND SOLVING SPECIFIC PROBLEMS AND BUSINESS CONCEPTS. VOLUNTEERS ALSO BUILD THE CURRICULUM, TRIAN NEW FACILITATORS, RECRUIT NEW PARTICIPANTS AS WELL AS GATHER AND ANALYZE PERFORMANCE METRICS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1WE IDENTIFY PROMISING CREATORS OF VALUE AND HELP THEM BE PRODUCTIVE. WE ORGANIZE THEM IN FOCUSED GROUPS TO CREATE OPPORTUNITIES, EVALUATE THOSE OPPORTUNITIES AND DETERMINE WHETHER THEY FIT THEIR OWN SKILL SETS. IN THIS BUSINESS INCEPTION PROGRAM WE TEACH PRECISION EXECUTION, HYPOTHESIS TESTING, REPORTING AND PROPER POVERNANCE TO OUR PARTICIPANTS. EDUCATIONAL EVENTS ARE RUN BY THE PARTICIPANTS THEMSELVES AND ARE EDUCATION FOCUSED, DESIGNED FOR THE CURRENT PROBLEMS THAT THE ENTREPRENEURS ENCOUNTER. FOR NEW REGIONS WE PROVIDE A SET OF OPENLY PUBLISHED DOCUMENTS AND BEST PRACTICES TO BUILD THEIR PROGRAM. FREQUENTLY OUR ALUMNI VISIT THESE NEW PROGRAMS TO COACH THE NEW DIRECTORS. SOMETIMES OUR ALUMNI BECOME DIRECTORS WHEN THEY MOVE TO NEW REGIONS AND BUILD PROGRAMS OF THEIR OWN. SOMETIMES WE PROVIDE MONEY FOR THESE PROGRAMS BUT TYPICALLY THEY BECOME FUNDED BY THE REGION. WE BUILD A SET OF TOOLS TO HELP DIRECTORS MANAGE THEIR PROGRAMS AND TO HELP US MEASURE THEIR SUCCESS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2QUATERE SEEKS TO CREATE AND IMPLEMENT ITS INNOVATIVE NEXT GENERATION EARLY STAGE UMBRELLA FUND TO INJECT MUCH NEEDED SUSTAINABLE FUNDING OPTIONS FOR EARLY STAGE AND STARTUP COMPANIES IN THE INTERMOUNTAIN REGION AND BEYOND. THE FUND IS EXPECTED TO RESULT IN NEW JOB CREATION AND INCRASE THE AVAILABILITY OF CAPITAL AND TECHNICAL ASSISTANCE TO EARLY STAGE COMPANIES IN THE REGION. THE FUND STRUCTURE WILL: PROVIDE STONG RETURNS; MEET CRA, SBA AND OTHER ECONOMIC DEVELOPMENT OBJECTIVES; HAVE STONG ALIGNMENT BETWEEN GENERAL PARTNERS AND LIMITED PARTNERS; AND ADDRESS THE MARKET DYNAMICS OF STARTUPS GETTING FARTHER WITH SMALLER AMOUNTS OF CAPITAL. QUATERE INTENDS TO CREATE A SEED FUND MODEL THAT CAN SUCCESSFULLY BE IMPLEMENTED IN OTHER SIMILAR MARKETS, AND INTENDS TO PUBLISH BEST PRACTICES FOR THE FUND IN THE CREATIVE COMMONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3AK GROUP WAS CONTRACTED BY THE VOTING MEMBERS TO MANAGE THE DAY TO DAY OPERATIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THIS ENTITY IS WAS ORGANIZED WITH MEMBERS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5ALL DECISIONS, EXCEPT DAY TO DAY OPERTIONS, DECIDED BY THE 4 VOTING MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE TAX RETURN WAS PRINTED AND PRESENTED TO EACH BOARD MEMBER FOR REVIEW BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7MEMBERS OF QUATERE'S GOVERNING BOARD WHO ARE NOT INVOLVED WITH A POTENTIAL CONFLICT HAVE FULL AUTONOMY TO ENFORCE THE CONFLICT OF INTEREST POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8ALL OFFICER, DIRECTOR AND TOP MANAGEMENT PAY IS SUBJECT TO THE APPROVAL OF THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9ALL OFFICERS AND KEY EMPLOYEES PAY IS SUBJECT TO REVIEW ANNUALLY BY THE BOARD OF DIRECTOS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt10THE DOCUMENTS ARE HELD BY AINSEY LLOYD, 801-893-1989. MS. LLOYD IS AVAILABLE BY PHONE OR MAIL AND WOULD HAVE THE DOCUMENTS READY FOR VIEW AT THE QUATERE OFFICES UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt11SQUAREHOOK 26,472 0 0 I5 CONSULT SERVICES 339,883 0 0 TOTAL 366,355 0 0
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 2, PART III, LINE 4B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc9FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc10FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc11FORM 990, PART IX, LINE 11G
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ReturnHeader/BusinessOfficerGrp/PersonNm0AINSLEY LLOYD
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ReturnHeader/PreparerPersonGrp/PreparationDt02019-12-10
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0VICKIE L DEAN
ReturnHeader/ReturnTs02019-12-11T09:49:55-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-01-01
ReturnHeader/TaxPeriodEndDt02018-12-31
ReturnHeader/TaxYr02018

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