Civic Intelligence

Braven Incorporated

990 • Fiscal year 2024 • EIN 46-4340594

Jul 01, 2023 to Jun 30, 2024 • Filed on Dec 20, 2024

100 N LA Salle St 310Chicago, IL 60602-2406

(773) 316-8013

Siviq Scores

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

Liabilities / Assets

29th percentile

0.08x

Higher debt load relative to assets than 29% of similar nonprofits.

2024 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2024

Liabilities / Revenue

21st percentile

0.11x

Higher debt load relative to revenue than 21% of similar nonprofits.

2024 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2024

Net Margin

83rd percentile

31%

Higher net margin than 83% of similar nonprofits.

2024 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2024

Top Officer Pay

58th percentile

$411,362

Higher top officer pay than 58% of similar nonprofits.

Top officer pay equals 1.1% of source-year revenue.

2024 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2024

Asset Growth

91st percentile

31%

Faster asset growth than 91% of similar nonprofits.

2024 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2023 to 2024

Revenue Growth

75th percentile

25%

Faster revenue growth than 75% of similar nonprofits.

2024 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2023 to 2024

Assets

Up

$56,265,884

Up $13,214,002 (+31%) from 2023

Net Assets

Up

$51,970,221

Up $12,155,641 (+31%) from 2023

Liabilities

Up

$4,295,663

Up $1,058,361 (+33%) from 2023

Revenue

Up

$38,701,711

Up $7,862,476 (+25%) from 2023

Expenses

Up

$26,546,070

Up $8,939,903 (+51%) from 2023

Net Income

Down

$12,155,641

Down $1,077,427 (-8.1%) from 2023

Historical Trend

Balance Sheet Trend

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

$60M$40M$20M$0Assets 2015: $1,130,018Liabilities 2015: $167,897Net Assets 2015: $962,1212015Assets 2016: $1,972,648Liabilities 2016: $94,561Net Assets 2016: $1,878,0872016Assets 2017: $2,526,434Liabilities 2017: $91,436Net Assets 2017: $2,434,9982017Assets 2018: $3,698,726Liabilities 2018: $192,081Net Assets 2018: $3,506,6452018Assets 2019: $12,983,166Liabilities 2019: $346,409Net Assets 2019: $12,636,7572019Assets 2020: $13,022,781Liabilities 2020: $1,258,374Net Assets 2020: $11,764,4072020Assets 2021: $18,157,055Liabilities 2021: $1,493,857Net Assets 2021: $16,663,1982021Assets 2022: $27,218,769Liabilities 2022: $637,257Net Assets 2022: $26,581,5122022Assets 2023: $43,051,882Liabilities 2023: $3,237,302Net Assets 2023: $39,814,5802023Assets 2024: $56,265,884Liabilities 2024: $4,295,663Net Assets 2024: $51,970,2212024Assets 2025: $49,811,137Liabilities 2025: $3,229,516Net Assets 2025: $46,581,6212025

Highlighted filing

2024

Assets$56,265,884
Liabilities$4,295,663
Net Assets$51,970,221

Operations Trend

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

$40M$20M$0-$20MRevenue 2015: $3,692,706Expenses 2015: $2,730,585Net Income 2015: $962,1212015Revenue 2016: $3,057,355Expenses 2016: $2,141,389Net Income 2016: $915,9662016Revenue 2017: $3,156,480Expenses 2017: $2,599,569Net Income 2017: $556,9112017Revenue 2018: $4,953,535Expenses 2018: $3,881,888Net Income 2018: $1,071,6472018Revenue 2019: $14,311,409Expenses 2019: $5,181,297Net Income 2019: $9,130,1122019Revenue 2020: $6,569,176Expenses 2020: $7,441,526Net Income 2020: -$872,3502020Revenue 2021: $13,085,158Expenses 2021: $8,186,367Net Income 2021: $4,898,7912021Revenue 2022: $22,362,245Expenses 2022: $12,443,931Net Income 2022: $9,918,3142022Revenue 2023: $30,839,235Expenses 2023: $17,606,167Net Income 2023: $13,233,0682023Revenue 2024: $38,701,711Expenses 2024: $26,546,070Net Income 2024: $12,155,6412024Revenue 2025: $28,174,170Expenses 2025: $33,562,770Net Income 2025: -$5,388,6002025

Highlighted filing

2024

Revenue$38,701,711
Expenses$26,546,070
Net Income$12,155,641
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Dec 20, 2024
Return Version
2023v5.1
Gross Receipts
$38,701,711
Mission and Program Overview

Mission

Braven's mission is to equip promising college students with the skills, networks, confidence, and experience necessary to transition from college to strong economic opportunities, which lead to meaningful careers and lives of impact.

SEE SCHEDULE O.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$30,903,563$29,083,988▼ $1,819,575
Pledges and Grants Receivable$6,911,886$14,834,097▲ $7,922,211
Cash and Non-Interest-Bearing Accounts$2,512,258$7,525,351▲ $5,013,093
Prepaid Expenses and Deferred Charges$308,872$790,854▲ $481,982
Accounts Receivable$68,000$694,743▲ $626,743
Land, Buildings, and Equipment, Net$356,387$405,803▲ $49,416
Total Assets$43,051,882$56,265,884▲ $13,214,002
Other Assets Total$1,990,916$2,931,048▲ $940,132
Liabilities
Other Liabilities$2,304,772$3,074,507▲ $769,735
Accounts Payable and Accrued Expenses$928,426$1,124,756▲ $196,330
Deferred Revenue$4,104$96,400▲ $92,296
Total Liabilities$3,237,302$4,295,663▲ $1,058,361
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$24,397,066$28,930,019▲ $4,532,953
Net Assets With Donor Restrictions$15,417,514$23,040,202▲ $7,622,688
Total Net Assets Fund Balance$39,814,580$51,970,221▲ $12,155,641
Total Liabilities and Net Assets / Fund Balance$43,051,882$56,265,884▲ $13,214,002

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$325,593$95,413$421,006
Leasehold Improvements$26,228$59,012$85,240
Other Land Buildings$53,982$18,359$72,341
Other Assets Org$118,287--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Aimee Eubanks DavisChief Executive OfficerFT$348,647$62,715$411,362
Lorraine AndersonChief External Affairs OfficerFT$257,947$56,517$314,464
Edward HerreraChief Finance & Operating OfficerFT$252,541$32,810$285,351
Laniesha SandersChief Product OfficerFT$220,783$37,788$258,571
Kilsys Payamps-roureExecutive Director, New YorkFT$185,934$45,605$231,539
Che WatkinsExecutive Director, AtlantaFT$193,263$27,635$220,898
Jonathan ChaparroExecutive Director, InnovationFT$178,957$25,977$204,934
Matthew StieglitzSecretary/general CounselFT$170,977$17,564$188,541

Board Members and Trustees

NameTitle
Richard BarthBoard Chair
Charlie WolfsonDirector
David LevyDirector
Elizabeth ThompsonDirector
Irene EstevesDirector
Phillip ClayDirector
Roger ArrieuxDirector
Shalinee SharmaDirector
Shellye ArchambeauDirector
Susan DunnTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
O PracticeCoaching & Strategy1474 S PRAIRIE AVE UNIT B, Chicago, IL 60605$307,000
Michael David MetzgerBusiness Consulting140 EAST RIO SALADO PARKWAY UNIT 6, Tempe, AZ 85281$267,860
100 Nl Acquisition LLCFacilitity Lease28400 NORTHWESTERN HIGHWAY, Southfield, MI 48034$199,601
Salesforce INCSoftware ServicePO BOX 203141, Dallas, TX 75320$134,708
The Raben Group LLCPublic Affairs And Organizational Consul525 9TH STREET NW 7TH FLOOR, Washington, DC 20004$120,033
Revenue and Support

Revenue Composition

Contributions and Grants
$35,505,133
Program Service Revenue
$1,668,169
Investment Income
$1,528,409
Other Revenue
$0
All Other Contributions
$35,505,133
Change in Net Assets
$12,155,641

Audited Revenue Reconciliation

Revenue per Audited Statements
$38,701,711
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$7,587,731
Total Revenue per Audited Statements
$46,289,442
Total Revenue per Form 990
$38,701,711
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$18,261,348
Other Expenses$8,284,722
Total Fundraising Expense$2,709,768
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$11,359,667$950,763$1,633,582$13,944,012
Information Technology$2,478,230$288,236$103,087$2,869,553
Other Employee Benefits$1,286,732$163,185$192,650$1,642,567
Fees for Services Other$1,255,546$196,163$47,197$1,498,906
Travel$720,629$317,627$250,463$1,288,719
Payroll Taxes$923,171$117,077$138,218$1,178,466
Current Officers, Directors, Trustees, and Key Employees$331,812$531,965$116,874$980,651
Occupancy$575,059$85,236$38,673$698,968
Office Expenses$319,363$270,955$58,396$648,714
Pension Plan Contributions$403,944$51,229$60,479$515,652
Advertising$248,584$119,420$47,440$415,444
Fees for Services Accounting-$207,140-$207,140
Other Expenses$200,384--$200,384
Insurance$37,500$127,765$3,207$168,472
Conferences and Meetings$97,651$36,915$7,422$141,988
Depreciation Depletion$21,165$84,660-$105,825
All Other Expenses-$18,653$12,080$30,733
Fees for Services Legal-$9,876-$9,876
Total Functional Expenses$20,259,437$3,576,865$2,709,768$26,546,070

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$34,133,801
Expenses per Audited Statements$26,546,070
Total Expenses per Form 990$26,546,070
Expenses Not Reported on Form 990$7,587,731
Expenses Not Reported on Financial Statements$0
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
Yes
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Operating Lease Liabilities$2,641,815
Refundable Advance$368,212
Finance Lease Liabilities$64,480
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

The prepared form 990 is reviewed by the vp, finance and the chief executive officer and provided to the members of the governing body before the return is filed with the irs.

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

All board members disclose and sign a conflict of interest policy annually. Any potential conflicts are reviewed at the board level. A director or officer with a conflict of interest is prohibited from participating in deliberations and decisions regarding the transaction.

Form 990, Part VI, Section B, Line 15

The organization's board of directors determined the ceo's compensation using data on compensation paid by comparable organizations for similar services. The compensation is reviewed on an annual basis at the end of the fiscal year. The organization's management determined the key employee's compensation using outside benchmarking based upon cost of labor by region.

Form 990, Part VI, Section C, Line 19

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

Filing and Contact Details

Filer

Filer Name
Braven Inc
EIN
46-4340594
Phone
7733168013
Address
100 N LA SALLE ST 310, CHICAGO, IL 60602-2406

Signing Officer

Name
Aimee Eubanks Davis
Title
Founder and CEO
Phone
7733168013
Signed
2024-12-20
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Aimee Eubanks Davis
Formed
2013
Legal Domicile
De
Voting Board Members
12
Independent Board Members
11
Employees
0
Volunteers
2,600

Preparer

Firm
Wegner Cpas Llp
Address
230 PARK AVE FL 3, NEW YORK, NY 10169-0005
Preparer
Yigit Uctum CPA
Phone
2125511724
Supplemental Narrative

Additional Explanations

FORM 990, PART I, LINE 1:

Braven's mission is to empower first-generation college students, students of color, and those from low-income backgrounds by equipping them with skills, networks, experiences, and confidence to secure strong first jobs.

FORM 990, PART III, LINE 4A:

Braven supports untapped students from college to career by partnering with institutions of higher ed and employers to offer a two-part experience that begins with a credit-bearing college course followed by a post-course experience that lasts through graduation. Fellows emerge from braven with the skills, confidence, experiences and networks they need to land a strong first job and get on a path to economic freedom. Braven also delivers bravenx, a stipend-based program outside of institutes of higher ed, with the goal of extending the critical work of college success organizations and charter high schools into strong career outcomes after college. By partnering with such organizations, braven helps ensure that their alumni not only graduate, enroll and persist in college, but also build the foundation for a lifelong career path. Bravenx is identical in content and cohort structure as our core product, the higher ed model. In lieu of academic credit, bravenx fellows earn a financial stipend upon completion of the program.

FORM 990, PART V, LINE 2A:

Braven leases employees from a professional employment organization, trinet. The employees are considered common law employees of braven, however, trinet is the employer of record and employees get their w2s from trinet.

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IRS990/Form990PartVIISectionAGrp/TitleTxt16EXECUTIVE DIRECTOR, NEW YORK
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