Civic Intelligence

Elemental Excelerator Inc.

990 • Fiscal year 2023 • EIN 82-1112859

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 06, 2024

1099 Alakea St 1250Honolulu, HI 96813

(808) 237-5050

Siviq Scores

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

Liabilities / Assets

19th percentile

0.03x

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

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

Liabilities / Revenue

11th percentile

0.04x

Higher debt load relative to revenue than 11% of similar nonprofits.

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

Net Margin

89th percentile

44%

Higher net margin than 89% of similar nonprofits.

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

Top Officer Pay

78th percentile

$423,544

Higher top officer pay than 78% of similar nonprofits.

Top officer pay equals 1.2% of source-year revenue.

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

Asset Growth

91st percentile

48%

Faster asset growth than 91% of similar nonprofits.

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

Revenue Growth

84th percentile

37%

Faster revenue growth than 84% of similar nonprofits.

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

Assets

Up

$47,432,534

Up $15,367,264 (+48%) from 2022

Net Assets

Up

$46,129,135

Up $15,845,101 (+52%) from 2022

Liabilities

Down

$1,303,399

Down $477,837 (-27%) from 2022

Revenue

Up

$35,742,100

Up $9,687,805 (+37%) from 2022

Expenses

Up

$19,978,849

Up $1,046,229 (+5.5%) from 2022

Net Income

Up

$15,763,251

Up $8,641,576 (+121%) from 2022

Historical Trend

Balance Sheet Trend

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

$60M$40M$20M$0Assets 2017: $2,286,772Liabilities 2017: $126,582Net Assets 2017: $2,160,1902017Assets 2018: $11,493,275Liabilities 2018: $193,992Net Assets 2018: $11,299,2832018Assets 2019: $19,813,083Liabilities 2019: $541,142Net Assets 2019: $19,271,9412019Assets 2020: $24,490,108Liabilities 2020: $905,635Net Assets 2020: $23,584,4732020Assets 2021: $25,336,495Liabilities 2021: $619,051Net Assets 2021: $24,717,4442021Assets 2022: $32,065,270Liabilities 2022: $1,781,236Net Assets 2022: $30,284,0342022Assets 2023: $47,432,534Liabilities 2023: $1,303,399Net Assets 2023: $46,129,1352023Assets 2024: $55,178,934Liabilities 2024: $1,987,619Net Assets 2024: $53,191,3152024

Highlighted filing

2023

Assets$47,432,534
Liabilities$1,303,399
Net Assets$46,129,135

Operations Trend

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

$40M$30M$20M$10M$0Revenue 2017: $3,333,750Expenses 2017: $1,173,560Net Income 2017: $2,160,1902017Revenue 2018: $14,241,700Expenses 2018: $5,102,607Net Income 2018: $9,139,0932018Revenue 2019: $16,263,075Expenses 2019: $8,290,417Net Income 2019: $7,972,6582019Revenue 2020: $15,915,259Expenses 2020: $11,602,727Net Income 2020: $4,312,5322020Revenue 2021: $17,097,328Expenses 2021: $15,854,563Net Income 2021: $1,242,7652021Revenue 2022: $26,054,295Expenses 2022: $18,932,620Net Income 2022: $7,121,6752022Revenue 2023: $35,742,100Expenses 2023: $19,978,849Net Income 2023: $15,763,2512023Revenue 2024: $34,110,366Expenses 2024: $27,161,787Net Income 2024: $6,948,5792024

Highlighted filing

2023

Revenue$35,742,100
Expenses$19,978,849
Net Income$15,763,251
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 6, 2024
Return Version
2023v5.1
Gross Receipts
$36,800,790
Mission and Program Overview

Mission

Eex conducts an accelerator program to startups that are pursuing innovative technological solutions to challenges in the areas of energy, water, transportation, agriculture and virtual and physical infrastructure.

Elemental excelerator (organization) is a nonprofit delaware corporation whose mission is to scale climate technologies with deep community impact.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Program Related$6,724,325$22,476,308▲ $15,751,983
Savings and Temporary Cash Investments$20,396,995$17,638,359▼ $2,758,636
Accounts Receivable$2,106,091$3,098,892▲ $992,801
Other Notes and Loans Receivable, Net$1,537,117$2,900,217▲ $1,363,100
Cash and Non-Interest-Bearing Accounts$410,165$539,672▲ $129,507
Prepaid Expenses and Deferred Charges$184,806$239,259▲ $54,453
Land, Buildings, and Equipment, Net$214,574$164,206▼ $50,368
Total Assets$32,065,270$47,432,534▲ $15,367,264
Other Assets Total$491,197$375,621▼ $115,576
Liabilities
Accounts Payable and Accrued Expenses$961,665$897,202▼ $64,463
Other Liabilities$510,771$406,197▼ $104,574
Grants Payable$308,800--
Total Liabilities$1,781,236$1,303,399▼ $477,837
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$23,157,471$40,463,148▲ $17,305,677
Net Assets With Donor Restrictions$7,126,563$5,665,987▼ $1,460,576
Total Net Assets Fund Balance$30,284,034$46,129,135▲ $15,845,101
Total Liabilities and Net Assets / Fund Balance$32,065,270$47,432,534▲ $15,367,264

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$146,330$169,576$315,906
Other Land Buildings$17,876$19,535$37,411
Investment Program Related Org$10,544,335--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Avra Van Der ZeeChief Operating OfficerFT$281,415$142,129$423,544
Dawn LippertDirector/chief Executive OfficerPT$258,176$101,264$359,440
Christina AngelidesManaging Director, Policy LabFT$226,423$84,511$310,934
Michael CurtisChief Financial OfficerFT$191,299$60,196$251,495
Danya HakeemVice President of PortfolioFT$181,229$66,160$247,389
Saritha KaderaliHead of Corporate PartnershipsFT$209,792$33,552$243,344
Theresa GarnerManaging Director, Marketing & CommunicationsFT$218,456$21,876$240,332
Theresa GarnerManaging Director, Marketing & Commu-$181,769$58,563$240,332
Sara ChandlerManaging Director, Equity & AccessFT$190,315$46,847$237,162
Melissa UhlChief Growth OfficerPT$190,797$40,340$231,137
Aparna ReddyGeneral CounselFT$185,089$32,384$217,473
Lauren TonokawaManaging Director, CommunicationsFT$169,807$47,456$217,263
Cheryl MartinDirector-$10,000-$10,000
Kelvin TaketaDirector-$10,000-$10,000
Naveen SikkaDirector-$10,000-$10,000
Vivian YasunagaDirector-$10,000-$10,000

Board Members and Trustees

NameTitle
Laurene Powell JobsChair of the Board

Highest Paid Contractors

ContractorServicesLocationCompensation
Hinter MediaFinancial Modeling116 WEED STREET, New Canaan, CT 06840$190,297
Kmh LLPCommunications Support3 MONROE PLACE APT 2, Brooklyn, NY 11201$105,913
Brightside StrategiesAccounting Services1003 BISHOP STREET SUITE 2400, Honolulu, HI 96813$104,008
-Program Coach992 CARROLL ST 2F, Brooklyn, NY 11225$103,284
Revenue and Support

Revenue Composition

Contributions and Grants
$34,459,473
Program Service Revenue
$261,621
Investment Income
$1,021,006
Other Revenue
$0
All Other Contributions
$25,984,871
Change in Net Assets
$15,763,251

Audited Revenue Reconciliation

Revenue per Audited Statements
$35,312,087
Revenue Not Reported on Financial Statements
$430,013
Revenue Not Reported on Form 990
$306,850
Other Revenue Adjustments
$389,423
Total Revenue per Audited Statements
$35,618,937
Total Revenue per Form 990
$35,742,100
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$9,332,236
Other Expenses$5,748,600
Grants and Similar Amounts Paid$4,898,013
Total Fundraising Expense$1,144,891
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$4,194,047$1,478,386$598,141$6,270,574
Grants to Domestic Orgs$4,118,013--$4,118,013
Fees for Services Other$1,611,397$713,469$275,451$2,600,317
Current Officers, Directors, Trustees, and Key Employees$879,433$761,824$152,084$1,793,341
Foreign Grants$780,000--$780,000
Payroll Taxes$440,461$120,584$33,774$594,819
Other Employee Benefits$323,455$79,579$23,890$426,924
Information Technology$70,127$264,840$2,414$337,381
Occupancy$178,313$133,869$13,896$326,078
Pension Plan Contributions$199,294$34,397$12,887$246,578
Advertising$183,445--$183,445
Office Expenses$45,205$107,774$110$153,089
Travel$7,557$91,945$27,209$126,711
Fees for Services Accounting-$116,068-$116,068
Conferences and Meetings$20,891$56,109-$77,000
Fees for Services Legal-$73,000-$73,000
Depreciation Depletion$27,543$20,679$2,146$50,368
Fees for Service Investment Mgmnt Fees-$40,590-$40,590
Insurance-$17,367-$17,367
Fees for Services Lobbying$2,550--$2,550
Other Expenses$0$943$0$943
Total Functional Expenses$14,705,796$4,128,162$1,144,891$19,978,849

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$20,163,259
Total Expenses per Form 990$19,978,849
Expenses per Audited Statements$19,938,259
Expenses Not Reported on Form 990$225,000
Expenses Not Reported on Financial Statements$40,590
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Gather Agriculture IncMerced, CA-To Fund Technological Solutions in Food & Agriculture$350,000
Community Energy Labs IncPortland, OR-To Fund Technological Solutions in Energy$306,800
Forum Mobility IncHalf Moon Bay, CA-To Fund Technological Solutions in Mobility$300,000
Nitricity IncSan Francisco, CA-To Fund Technological Solutions in Food & Agriculture$300,000
Project Vesta PbcSan Francisco, CA-To Fund Technological Solutions in Nature-based Solutions$300,000
TradelanesWallnut Creek, CA-To Fund Technological Solutions in Food & Agriculture$300,000
Weave Grid IncSan Francisco, CA-To Fund Technological Solutions in Energy$300,000
Molg IncChantilly, VA-To Fund Technological Solutions in Industry$213,200
Blue Ocean Barns IncKailuakona, HI501(c)(3)To Fund Technological Solutions in Food & Agriculture$200,000
Hohonu IncAlea, HI-To Fund Technological Solutions in Water$200,000
Modular Streetscape Systems IncBrooklyn, NY-To Fund Technological Solutions in Industry$200,000
Mythos Ai IncWest Palm Beach, FL-To Fund Technological Solutions in Mobility$200,000
Transaera IncSommerville, MA-To Fund Technological Solutions in Energy$200,000
Amalgamated Charitable Foundation IncWashington, DC501(c)(3)To Fund Technological Solutions in Nature-based Solutions$120,000
Fervo Energy CompanyHouston, TX-To Fund Technological Solutions in Energy$110,000
Enverid Systems IncWestwood, MA-To Fund Technological Solutions in Energy$100,000
Cty Inc Dba NuminaBrooklyn, NY-To Fund Technological Solutions in Water$50,000
Twelve Benefit CorporationBerkeley, CA-To Fund Technological Solutions in Energy$46,735
Mast Fka Droneseed CoSeattle, WA-To Fund Technological Solutions in Nature-based Solutions$25,000
Nth Cycle IncBeverly, MA-To Fund Technological Solutions in Industry$25,000
Solstice Power Technologies IncCambridge, MA-To Support Edict (empowering Diverse Climate Talent) Intern(s)$20,460
Planet Forward IncSan Francisco, CA-To Fund Technological Solutions in Food & Agriculture$20,000
Terviva Bioenergy IncAlameda, CA-To Fund Technological Solutions in Food & Agriculture$20,000
Acterra Action for a Healthy PlanetPalo Alto, CA501(c)(3)To Support Edict (empowering Diverse Climate Talent) Intern(s)$17,600
Climate Policy Initiative IncSan Francisco, CA-To Support Edict (empowering Diverse Climate Talent) Intern(s)$17,600
Uncharted Power IncPoughkeepsie, NY-To Support Edict (empowering Diverse Climate Talent) Intern(s)$17,600
Climate Cabinet ActionSan Francisco, CA-To Support Edict (empowering Diverse Climate Talent) Intern(s)$16,600
Evrnu SpcSeattle, WA-To Support Edict (empowering Diverse Climate Talent) Intern(s)$15,000
Shifted EnergyHonolulu, HI-To Support Edict (empowering Diverse Climate Talent) Intern(s)$12,300
Source Global PbcScottsdale, AZ-To Support Edict (empowering Diverse Climate Talent) Intern(s)$10,000
Coi Energy Services IncTampa, FL-To Support Edict (empowering Diverse Climate Talent) Intern(s)$9,200
Blue PlanetHonolulu, HI501(c)(3)To Support Edict (empowering Diverse Climate Talent) Intern(s)$8,800
Hawaii Ulu Producers CooperativeKailua Kona, HI-To Support Edict (empowering Diverse Climate Talent) Intern(s)$8,800
PanoramikLos Angeles, CA-To Support Edict (empowering Diverse Climate Talent) Intern(s)$8,800
Smart Electric Power AllianceWashington, DC-To Support Edict (empowering Diverse Climate Talent) Intern(s)$8,800
SolarfiSomerville, MA-To Support Edict (empowering Diverse Climate Talent) Intern(s)$8,800
US Green Building Council West MichiganGrand Rapids, MI-To Support Edict (empowering Diverse Climate Talent) Intern(s)$8,800
Climate and Energy Project IncHutchinson, KS501(c)(3)To Support Edict (empowering Diverse Climate Talent) Intern(s)$7,800
Ramune BartuskaitePhiladelphia, PA-To Support Edict (empowering Diverse Climate Talent) Intern(s)$6,400

International Summary

Offices
0
Employees
0
Spending
$780,000

International Compliance

Foreign grant records maintained
Yes
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
Europe (including Iceland & Greenland)Grantmaking-00$350,000
North AmericaGrantmaking-00$300,000
Sub-saharan AfricaGrantmaking-00$100,000
Middle East and North AfricaGrantmaking-00$30,000
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$406,197
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
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

Dawn lippert is also employed as an advisor by a limited liability company of which laurene powell jobs is president.

Form 990, Part VI, Section A, Line 6

The organization has members.

Form 990, Part VI, Section A, Line 7A

Members of the organization's board are appointed by the class 1 and class 2 members.

Form 990, Part VI, Section A, Line 7B

The class i member has rights to appoint and remove class 1 directors, appoint certain officers, and approve or veto certain actions of the board, class ii members, or any committee.

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

A draft of the form 990 is provided to the board audit committee. Committee members review and approve the draft before the return is filed with the irs.

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

Directors, officers, key employees, and any person(s) who, based on facts and circumstances, are determined to have substantial influence over eex are covered by the organization's conflict of interest policy. Conflicts of interest are determined by the board or a committee. Persons with potential conflicts will recuse him- or herself from voting or discussions on such matters except to disclose material facts and respond to questions.

Form 990, Part VI, Section B, Line 15

Compensation for the ceo and other officers and key employees is approved by the board of directors or another authorized body as part of the annual budget, with reliance on comparability data for determining the reasonableness of the compensation in accordance with internal revenue code section 4958. Such decisions are documented concurrently in the organization's records. This process was last undertaken in 2022.

Form 990, Part VI, Section C, Line 19

The organization makes its governing documents, conflict of interest policy, and financial statements available to public to the extent required by applicable law.

Filing and Contact Details

Filer

Filer Name
Elemental Excelerator Inc
EIN
82-1112859
Phone
8082375050
Address
1099 ALAKEA ST 1250, HONOLULU, HI 96813
Doing Business As
Elemental Impact

Signing Officer

Name
Dawn Lippert
Title
CEO
Phone
8082375050
Signed
2024-11-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dawn Lippert
Formed
2017
Legal Domicile
De
Voting Board Members
5
Independent Board Members
4
Employees
69
Volunteers
5

Preparer

Firm
Cw Associates Cpas
Address
700 BISHOP STREET SUITE 1040, HONOLULU, HI 96813
Preparer
Rodney M Harano
Phone
8085311040
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 2

Elemental excelerator expanded its funding and technical service offerings to help climate startups scale up their technology from demonstration stage to commercial scale deployment. These new services include project pre-development support, including permitting, engineering studies, community benefit plans, and financial modeling.

Form 990, Part IX, Line 11G

Other professional fees: program service expenses 1,611,397. Management and general expenses 713,469. Fundraising expenses 275,451. Total expenses 2,600,317.

Financial Statement Notes

PART X, LINE 2:

U.s. Gaap requires uncertain tax positions to be recognized in the financial statements if they are more likely than not to fail upon regulatory examination. Management has evaluated the organization's tax positions as of december 31, 2023 and 2022, and for the years then ended, and determined that it had no uncertain tax positions required to be reported in accordance with u.s. Gaap. The organization is subject to routine audits by taxing jurisdictions; however, there are currently no audits in progress for any open tax years.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Increase in net assets with donor restrictions 389,423.

Raw XML AppendixShowing 400 of 1,245 raw XML fields

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/Desc0ELEMENTAL EXCELERATOR (ORGANIZATION) IS A NONPROFIT DELAWARE CORPORATION WHOSE MISSION IS TO SCALE CLIMATE TECHNOLOGIES WITH DEEP COMMUNITY IMPACT. THE ORGANIZATION CONDUCTS A TECHNOLOGY COMMERCIALIZATION PROGRAM THAT SERVES TO CONNECT, COACH AND SUPPORT ENTREPRENEURS BUILDING INNOVATIVE TECHNOLOGY SOLUTIONS ACROSS THE AREAS OF ENERGY, WATER, TRANSPORTATION, FOOD AND AGRICULTURE, NATURE-BASED SOLUTIONS AND INDUSTRY. ADDITIONALLY, IN FURTHERANCE OF ITS EXEMPT PURPOSES, THE ORGANIZATION PROVIDES CATALYTIC FUNDING AND TECHNICAL SERVICES TO THE STARTUPS SELECTED FOR ITS PROGRAM TO IMPLEMENT CLIMATE TECHNOLOGY PROJECTS IN PARTNERSHIP WITH LOCAL CUSTOMERS, POLICYMAKERS AND COMMUNITIES. THE ORGANIZATION WORKS WITH NONPROFIT, GOVERNMENT, AND BUSINESS REPRESENTATIVES TO IDENTIFY LOCAL AND REGIONAL NEEDS FOR INNOVATION AND THEN PROVIDES TAILORED COACHING TO CLIMATE STARTUPS DEPLOYING TECHNOLOGIES THAT BRING ENVIRONMENTAL, HEALTH AND ECONOMIC BENEFITS TO RURAL, TRIBAL AND OTHER DISADVANTAGED COMMUNITIES. THE ORGANIZATION'S TECHNICAL SERVICES ENSURE THAT THESE PROJECTS PROVIDE ACCESS TO WORKFORCE DEVELOPMENT AND OTHER EDUCATIONAL OPPORTUNITIES FOR BIPOC, WOMEN, VETERANS AND OTHER GROUPS WHO HAVE TRADITIONALLY BEEN EXCLUDED FROM THE TECHNOLOGY SECTOR. IN ADDITION, THE ORGANIZATION WORKS WITH POLICYMAKERS TO PROVIDE FRAMEWORKS, RESOURCES AND TOOLS, ALL ROOTED IN ON-THE-GROUND INSIGHTS FROM DEPLOYING CLIMATE PROJECTS, TO HELP NEW TECHNOLOGIES SCALE RAPIDLY AND EQUITABLY. THIS INCLUDES COACHING TO HELP COMPANIES DEVELOP AND INCORPORATE POLICY-RELATED GOALS INTO THEIR GROWTH STRATEGIES.THESE TECHNOLOGIES CATALYZE LOCAL JOBS AND ECONOMIC DEVELOPMENT, REDUCE LOCAL AIR POLLUTION, CREATE UTILITY BILL SAVINGS, AND IMPROVE ACCESS TO CLEAN ENERGY, WATER, FOOD, AND TRANSIT IN CITIES, NEIGHBORHOODS AND HOMES WHERE PROJECTS ARE DEPLOYED BOTH IN THE UNITED STATES AND GLOBALLY.
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