Civic Intelligence

Activation Energy Inc

990 • Fiscal year 2023 • EIN 47-5502184

Jul 01, 2022 to Jun 30, 2023 • Filed on May 13, 2024

2600 Tenth Street Suite 300Berkeley, CA 94710

(510) 214-3788

Siviq Scores

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

Liabilities / Assets

32nd percentile

0.08x

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

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Liabilities / Revenue

19th percentile

0.08x

Higher debt load relative to revenue than 19% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Net Margin

83rd percentile

29%

Higher net margin than 83% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Top Officer Pay

76th percentile

$400,698

Higher top officer pay than 76% of similar nonprofits.

Top officer pay equals 1.5% of source-year revenue.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Asset Growth

90th percentile

47%

Faster asset growth than 90% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2022 to 2023

Revenue Growth

87th percentile

46%

Faster revenue growth than 87% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2022 to 2023

Assets

Up

$26,386,377

Up $8,430,212 (+47%) from 2022

Net Assets

Up

$24,179,809

Up $7,719,815 (+47%) from 2022

Liabilities

Up

$2,206,568

Up $710,397 (+47%) from 2022

Revenue

Up

$26,734,894

Up $8,396,022 (+46%) from 2022

Expenses

Up

$19,015,079

Up $6,196,962 (+48%) from 2022

Net Income

Up

$7,719,815

Up $2,199,060 (+40%) from 2022

Historical Trend

Balance Sheet Trend

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

$30M$20M$10M$0Assets 2016: $5,280Liabilities 2016: $151,2482016Assets 2017: $602,917Liabilities 2017: $509,493Net Assets 2017: $93,4242017Assets 2018: $2,343,713Liabilities 2018: $157,830Net Assets 2018: $2,185,8832018Assets 2019: $3,326,515Liabilities 2019: $230,072Net Assets 2019: $3,096,4432019Assets 2020: $6,544,461Liabilities 2020: $504,440Net Assets 2020: $6,040,0212020Assets 2021: $11,949,967Liabilities 2021: $1,010,756Net Assets 2021: $10,939,2112021Assets 2022: $17,956,165Liabilities 2022: $1,496,171Net Assets 2022: $16,459,9942022Assets 2023: $26,386,377Liabilities 2023: $2,206,568Net Assets 2023: $24,179,8092023Assets 2024: $26,103,206Liabilities 2024: $1,532,671Net Assets 2024: $24,570,5352024

Highlighted filing

2023

Assets$26,386,377
Liabilities$2,206,568
Net Assets$24,179,809

Operations Trend

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

$30M$20M$10M$0-$10MRevenue 2016: $5,280Expenses 2016: $151,248Net Income 2016: -$145,9682016Revenue 2017: $1,418,470Expenses 2017: $1,254,078Net Income 2017: $164,3922017Revenue 2018: $3,407,608Expenses 2018: $1,315,149Net Income 2018: $2,092,4592018Revenue 2019: $3,732,131Expenses 2019: $2,821,571Net Income 2019: $910,5602019Revenue 2020: $8,612,508Expenses 2020: $5,668,930Net Income 2020: $2,943,5782020Revenue 2021: $13,059,575Expenses 2021: $8,160,385Net Income 2021: $4,899,1902021Revenue 2022: $18,338,872Expenses 2022: $12,818,117Net Income 2022: $5,520,7552022Revenue 2023: $26,734,894Expenses 2023: $19,015,079Net Income 2023: $7,719,8152023Revenue 2024: $23,823,486Expenses 2024: $23,553,752Net Income 2024: $269,7342024

Highlighted filing

2023

Revenue$26,734,894
Expenses$19,015,079
Net Income$7,719,815
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
May 13, 2024
Return Version
2022v5.0
Gross Receipts
$26,734,894
Mission and Program Overview

Mission

Activation Energy empowers hard science innovators by creating homes for their work catalyzing commercialization with new programs and partnerships and connecting the pillars of the hard tech community to enable successful transitions from lab to market.

Activate empowers scientists to reinvent the world by bringing their research to market. Activate partners with U.S.-based funders, research institutions, and other pillars of the hard technology community to help entrepreneurial scientists translate their breakthrough ideas into commercial solutions.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$6,050,529$10,382,192▲ $4,331,663
Savings and Temporary Cash Investments$2,077,552$9,974,813▲ $7,897,261
Cash and Non-Interest-Bearing Accounts$9,170,559$3,488,646▼ $5,681,913
Prepaid Expenses and Deferred Charges$433,629$962,157▲ $528,528
Investments Other Securities-$525,000-
Land, Buildings, and Equipment, Net$100,845$92,537▼ $8,308
Investments Program Related$50,000$50,000→ $0
Intangible Assets$10,000$9,167▼ $833
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments in Publicly Traded Securities-$0-
Inventories for Sale or Use-$0-
Total Assets$17,956,165$26,386,377▲ $8,430,212
Other Assets Total$63,051$901,865▲ $838,814
Liabilities
Accounts Payable and Accrued Expenses$1,462,838$1,282,590▼ $180,248
Other Liabilities-$865,645-
Deferred Revenue$33,333$58,333▲ $25,000
Total Liabilities$1,496,171$2,206,568▲ $710,397
Net Assets / Fund Balance
Net Assets With Donor Restrictions$11,778,290$16,104,044▲ $4,325,754
Net Assets Without Donor Restrictions$4,681,704$8,075,765▲ $3,394,061
Total Net Assets Fund Balance$16,459,994$24,179,809▲ $7,719,815
Total Liabilities and Net Assets / Fund Balance$17,956,165$26,386,377▲ $8,430,212

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$51,094$16,770$67,864
Equipment$41,443$11,262$52,705
Investment Program Related Org$50,000--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Ilan GurCEOFT$389,884$13,644$400,698
Matthew PricePresident, CFOFT$314,660$36,830$356,239
Aimee RoseExecutive Managing DirectorFT$285,037$19,501$304,538
Karin D LionCHF Growth & Partnership OfcrFT$274,663$8,188$283,141
Robert T JohnsonBd Sec, Int CEOFT$253,938$1,045$254,983
Hannah K MurnenManaging Director-ag AnywhereFT$232,784$26,600$252,449
Ranulfo D AllenManaging Director-ag BostonFT$227,838$18,567$246,405
Steven H TranVP, Finance & ContractsFT$219,943$18,974$245,562
Andrew R ChangManaging Director-ag New YorkFT$231,917$5,822$233,589
Thomas R BoussieManaging Director-ag BerkeleyFT$202,131$19,788$226,649
Brenna H TeiglerChief Fellowship OfficerFT$174,975$19,299$195,576
Sara MorrillEducation DirectorFT$162,362$22,959$186,424
Karen M Krause-BencalVP Defense InnovationFT$180,098$4,905$184,963
David MerkoskiCreative DirectorFT$134,404$35,366$165,969
Philip J LoewSenior Director, ExpansionFT$157,096$8,146$165,242
Dustin L FrazierData Sol ArchitectFT$127,569$34,517$161,023
Erin D LindgrenStrat Part ManagerFT$144,000$3,649$147,649
Naomi BaerCOOFT$131,827$9,994$141,821
Cortney Y NewellDirector Phil PartFT$131,865$8,450$140,315

Board Members and Trustees

NameTitle
Liesl SchindlerBoard Chair
Liesel Pritzker SimmonsBoard Member
Matt RogersBoard Member
Morry CaterBoard Member
Nicole SystromBoard Member
Troy BrewsterBoard Member
Gabriel KraBoard Treasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Tomlinson Consulting GroupHuman Resources Services14 Hiller Drive, Oakland, CA 94618$337,253
Shining Star ConsultingBookkeeping, Accounting2320 Oak Street, Berkeley, CA 94708$193,564
Lewis-Burke Associates LLCGov't Rel & Lobbying440 1st Street NW, Washington, DC 20001$192,000
Diversified SearchBusiness Consulting Svc2005 Market St 33rd fl, Philadelphia, PA 19103$168,000
Revenue and Support

Revenue Composition

Contributions and Grants
$26,596,347
Program Service Revenue
$0
Investment Income
$129,761
Other Revenue
$8,786
All Other Contributions
$18,117,353
Change in Net Assets
$7,719,815

Audited Revenue Reconciliation

Revenue per Audited Statements
$26,734,894
Revenue Not Reported on Form 990
$87,127
Total Revenue per Audited Statements
$26,822,021
Total Revenue per Form 990
$26,734,894
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$7,884,550
Salaries, Compensation, and Employee Benefits$7,658,620
Other Expenses$3,471,909
Total Fundraising Expense$575,751
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$4,145,496--$4,145,496
Grants to Domestic Orgs$3,739,054--$3,739,054
Other Salaries and Wages$1,918,614$1,450,232$250,200$3,619,046
Current Officers, Directors, Trustees, and Key Employees$2,035,727$992,580$246,549$3,274,856
Fees for Services Other$468,660$840,822-$1,309,482
Conferences and Meetings$362,765$137,494$12,550$512,809
Occupancy$477,561$296-$477,857
Payroll Taxes$243,427$151,610$30,903$425,940
Information Technology$86,645$224,934-$311,579
Other Employee Benefits$132,437$127,268$26,067$285,772
Fees for Services Accounting-$276,648-$276,648
Travel$135,246$90,145$5,776$231,167
Fees for Services Legal$5,947$72,942-$78,889
Pension Plan Contributions$29,843$20,200$2,963$53,006
Office Expenses$28,465$15,922-$44,387
Insurance$6,411$26,958$743$34,112
Depreciation Depletion$9,371$15,222-$24,593
Advertising$15,599$6,185-$21,784
Interest-$6,986-$6,986
Other Expenses$1,050$4,899-$4,899
Total Functional Expenses$13,842,318$4,597,010$575,751$19,015,079

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$19,105,240
Expenses per Audited Statements$19,015,079
Total Expenses per Form 990$19,015,079
Expenses Not Reported on Form 990$90,161
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
PerlumiBerkeley, CA-Technology development funds$600,964
LbnlBerkeley, CA-Technology development funds$321,973
TakacharBoston, MA-Technology development funds$250,742
Pulsenics IncNewark, NJ-Technology development funds$198,427
Kano TherapeuticsCambridge, MA-Technology development funds$120,575
Osmoses IncCambridge, MA-Technology development funds$112,800
Banyu Carbon IncSeattle, WA-Technology development funds$109,349
AsimicA IncLaramie, WY-Technology development funds$108,747
Limelight Steel IncSan Diego, CA-Technology development funds$100,500
Anvil Diagnostics IncSouthborough, MA-Technology development funds$100,000
Closed Composites IncSan Pedro, CA-Technology development funds$100,000
FORAY bioscienceCambridge, MA-Technology development funds$100,000
Flux XII IncMadison, WI-Technology development funds$100,000
Impact Cooling IncBirmingham, AL-Technology development funds$100,000
Innate Energy IncNew York, NY-Technology development funds$100,000
Ivu Biologics IncWellesley, MA-Technology development funds$100,000
Lithios IncCambridge, MA-Technology development funds$100,000
Lucidean IncGoleta, CA-Technology development funds$100,000
Pseudolithic IncSanta Barbara, CA-Technology development funds$100,000
Quorum Bio IncSan Ramon, CA-Technology development funds$100,000
REEgen IncIthaca, NY-Technology development funds$100,000
Soctera IncIthaca, NY-Technology development funds$100,000
SoloPulse CorpDecatur, GA-Technology development funds$100,000
Tensora IncBrooklyn, NY-Technology development funds$100,000
Turnover Technologies IncNew York, NY-Technology development funds$100,000
Vycarb IncBrooktondale, NY-Technology development funds$100,000
Wild Microbes CompanyBoston, MA-Technology development funds$100,000
PhotonectRochester, NY-Technology development funds$7,512
Feon EnergyWoburn, MA-Technology development funds$7,465
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Robert T JohnsonOfficerconsulting servicesNo$63,000

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Operating lease liability$865,645
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
Yes
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, Section B, Line 11B

The draft 990 is reviewed by the Accounting Manager, the SVP Finance, and the CFO, who provide final approval.

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

Activate reviews the annual disclosure forms, and should a potential conflict be disclosed, compiles and maintains a list of potential conflicts.

Form 990, Part VI, Section B, Line 15A

The Board contracted with an independent consultant to develop a comprehensive compensation plan for Activate. The compensation plan was approved by the board and used by management to determine the total compensation for all staff and new hires. Activates Vice President of People and Culture maintains access to 3rd party systems which allow Activate to use the same compensation framework that was created by the independent consultant.

Form 990, Part VI, Section C, Line 19

Available upon request.

Filing and Contact Details

Filer

Filer Name
Activate Global Inc
EIN
47-5502184
Phone
5102143788
Address
2600 Tenth Street Suite 300, Berkeley, CA 94710

Signing Officer

Name
Matthew Price
Title
President and CFO
Signed
2024-05-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Matthew Price
Formed
2015
Legal Domicile
CA
Voting Board Members
7
Independent Board Members
6
Employees
57
Volunteers
50

Preparer

Firm
Iryna AC
Address
1000 Broadway Ste 200-C, Oakland, CA 94607
Preparer
Iryna Oreshkova CPA
Phone
5104679506
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

The Organization is a not-for-profit organization that is exempt from federal income tax on income under Section 501(c)(3) of the Internal Revenue Code and from state franchise tax under California Revenue and Taxation Code Section 23701 (d). However, income from activities not directly related to its tax-exempt purpose is subject to taxation as unrelated business income. There was no tax on unrelated business income for year ended June 30, 2023.

Part XI, Line 2D: Other revenue amounts included in F/S but not included on form 990

Consolidated adjustment $943

Part XII, Line 2D: Other expenses and losses per audited F/S

Consolidated adjustment $3977

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