Civic Intelligence

Exponential Impact

990 • Fiscal year 2022 • EIN 82-2707012

Jan 01, 2022 to Dec 31, 2022 • Filed on May 15, 2023

Organization Profileexponentialimpact.com

View Organization Page

3650 N Nevada AveColorado Springs, CO 80907

(719) 660-8888

Siviq Scores

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

Liabilities / Assets

84th percentile

0.49x

Higher debt load relative to assets than 84% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

83rd percentile

0.61x

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

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

83rd percentile

35%

Higher net margin than 83% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

48th percentile

$53,333

Higher top officer pay than 48% of similar nonprofits.

Top officer pay equals 1.8% of source-year revenue.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

80th percentile

25%

Faster asset growth than 80% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

94th percentile

169%

Faster revenue growth than 94% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets84th percentile

Assets

Up

$3,778,747

Up $755,983 (+25%) from 2021

Net Assets

Up

$1,908,532

Up $1,063,673 (+126%) from 2021

Liabilities

Down

$1,870,215

Down $307,690 (-14%) from 2021

Revenue And Expenses
Liabilities / Revenue83rd percentileNet Margin83rd percentile

Revenue

Up

$3,043,599

Up $1,913,628 (+169%) from 2021

Expenses

Up

$1,979,926

Up $1,107,912 (+127%) from 2021

Net Income

Up

$1,063,673

Up $805,716 (+312%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth80th percentile

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

$6.0M$4.0M$2.0M$0Assets 2017: $95,582Liabilities 2017: $5,458Net Assets 2017: $90,1242017Assets 2018: $72,300Liabilities 2018: $723Net Assets 2018: $71,5772018Assets 2019: $302,712Liabilities 2019: $2,890Net Assets 2019: $299,8222019Assets 2020: $2,715,192Liabilities 2020: $2,162,960Net Assets 2020: $552,2322020Assets 2021: $3,022,764Liabilities 2021: $2,177,905Net Assets 2021: $844,8592021Assets 2022: $3,778,747Liabilities 2022: $1,870,215Net Assets 2022: $1,908,5322022Assets 2023: $4,055,793Liabilities 2023: $2,188,860Net Assets 2023: $1,866,9332023Assets 2024: $5,295,573Liabilities 2024: $683,271Net Assets 2024: $4,612,3022024

Highlighted filing

2022

Assets$3,778,747
Liabilities$1,870,215
Net Assets$1,908,532
Open 2022 Filing

Operations Trend

Revenue Growth94th percentile

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MRevenue 2017: $101,146Expenses 2017: $11,022Net Income 2017: $90,1242017Revenue 2018: $317,250Expenses 2018: $335,797Net Income 2018: -$18,5472018Revenue 2019: $712,117Expenses 2019: $483,872Net Income 2019: $228,2452019Revenue 2020: $646,352Expenses 2020: $393,942Net Income 2020: $252,4102020Revenue 2021: $1,129,971Expenses 2021: $872,014Net Income 2021: $257,9572021Revenue 2022: $3,043,599Expenses 2022: $1,979,926Net Income 2022: $1,063,6732022Revenue 2023: $652,358Expenses 2023: $591,959Net Income 2023: $60,3992023Revenue 2024: $2,153,332Expenses 2024: $800,507Net Income 2024: $1,352,8252024

Highlighted filing

2022

Revenue$3,043,599
Expenses$1,979,926
Net Income$1,063,673
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
May 15, 2023
Return Version
2022v5.0
Gross Receipts
$3,043,599
Mission and Program Overview

Mission

To develop the best entrepreneurs humanly possible. XI advances its mission through a dual focus on emerging technology and community impact. Each track serves a distinct group of businesses and entrepreneurs in the pikes peak region with programs that address each group's unique challenges and opportunities for growth.

To connect entrepreneurs with educational resources, training, mentorship, access to capital, and a shared operating space in the Colorado Springs region.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,333,008$3,141,059▲ $1,808,051
Other Notes and Loans Receivable, Net$1,324,709$427,613▼ $897,096
Land, Buildings, and Equipment, Net$192,829$158,849▼ $33,980
Accounts Receivable$172,218$51,226▼ $120,992
Savings and Temporary Cash Investments$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$3,022,764$3,778,747▲ $755,983
Other Assets Total$0$0→ $0
Liabilities
Other Liabilities$2,161,784$1,849,784▼ $312,000
Accounts Payable and Accrued Expenses$16,121$20,431▲ $4,310
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$2,177,905$1,870,215▼ $307,690
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$656,432$966,282▲ $309,850
Net Assets With Donor Restrictions$188,427$942,250▲ $753,823
Total Net Assets Fund Balance$844,859$1,908,532▲ $1,063,673
Total Liabilities and Net Assets / Fund Balance$3,022,764$3,778,747▲ $755,983

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$158,160$76,505$234,665
Equipment$689$1,594$2,283
Compensation and Service Providers
Top Officer Pay48th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Natasha MainExecutive Director (term 6/22)FT$53,333-$53,333
Vance BrownExecutive DirectorFT$34,981$3,229$38,210

Board Members and Trustees

NameTitle
Jay JesseChair
Kyle HyblVice Chair
Betsy BrownDirector
Chris JenkinsDirector
Emily SprattDirector
Jeff GreeneDirector
Sarah Jane MaxtedDirector
Hannah ParsonsSecretary
Leif UllmanTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$3,037,919
Program Service Revenue
$235
Investment Income
$5,445
Other Revenue
$0
All Other Contributions
$376,912
Change in Net Assets
$1,063,673

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,043,599
Revenue Not Reported on Form 990
$196,000
Total Revenue per Audited Statements
$3,239,599
Total Revenue per Form 990
$3,043,599
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,300,700
Other Expenses$356,740
Salaries, Compensation, and Employee Benefits$322,486
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$1,300,700--$1,300,700
Other Salaries and Wages$187,445--$187,445
Information Technology$158,939--$158,939
Current Officers, Directors, Trustees, and Key Employees$91,543--$91,543
Fees for Services Other$84,281--$84,281
Depreciation Depletion$33,980--$33,980
Other Employee Benefits$21,989--$21,989
Payroll Taxes$21,509--$21,509
Fees for Services Accounting$14,774--$14,774
Conferences and Meetings$14,665--$14,665
Insurance$10,404--$10,404
Office Expenses$9,990--$9,990
Travel$9,803--$9,803
Fees for Services Legal$5,090--$5,090
Advertising$2,454--$2,454
Occupancy$2,371--$2,371
Other Expenses$1,118--$1,118
All Other Expenses$574--$574
Total Functional Expenses$1,979,926$0$0$1,979,926

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$2,175,926
Expenses per Audited Statements$1,979,926
Total Expenses per Form 990$1,979,926
Expenses Not Reported on Form 990$196,000
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
3E's Comedy ClubColorado Springs, CO501(c)(3)General Support$50,000
Buffalo Lodge Bicycle Resort LLCColorado Springs, CO501(c)(3)General Support$50,000
CS Dual Hotel LLCColorado Springs, CO-General Support$50,000
Colorado Springs Sports CorporationColorado Springs, CO-General Support$50,000
Colorado Springs World ArenaColorado Springs, CO-General Support$50,000
Flying W Ranch IncColorado Springs, CO-General Support$50,000
Kinship LandingColorado Springs, CO-General Support$50,000
Mister Dexters LTD dba Shuga'sColorado Springs, CO-General Support$50,000
Norris Penrose Event CenterColorado Springs, CO-General Support$50,000
Pikes Peak Auto Hill Climb Educational Museum - PiColorado Springs, CO-General Support$50,000
Pikes Peak Brewing Co Lager HouseColorado Springs, CO-General Support$50,000
Pub Dog Colorado LLCColorado Springs, CO-General Support$35,000
(A &K Inc) Xiang's KitchenColorado Springs, CO501(c)(3)General Support$30,000
Express Auto RepairColorado Springs, CO-General Support$30,000
RKAutomotive RepairColorado Springs, CO-General Support$30,000
Trinity Brewing CompanyColorado Springs, CO-General Support$30,000
Aspen Sign & Lighting Co IncColorado Springs, CO501(c)(3)General Support$25,000
Cambio Yoga LLCColorado Springs, CO501(c)(3)General Support$25,000
Continental CleanersColorado Springs, CO-General Support$25,000
Ladyfingers LetterpressColorado Springs, CO-General Support$25,000
Tapateria LLCColorado Springs, CO-General Support$25,000
Use What You Got LLC DBA Momma Pearls Cajun RestaColorado Springs, CO-General Support$25,000
Five Brothers Siding IncColorado Springs, CO-General Support$23,500
Pikes Peak Metropolitan Community ChurchColorado Springs, CO-General Support$21,000
Hacienda Villarreal LLCColorado springs, CO-General Support$20,000
Loyal Coffee (DBA) Fish Oil LLCColorado Springs, CO-General Support$20,000
Smallcakes Monument DBA Decadent Colorado SpringsColorado Springs, CO-General Support$20,000
coloRADo Adventure HostelColorado Springs, CO-General Support$19,000
Colorado Ninja dba Altitude NinjaColorado Springs, CO-General Support$17,500
ALMAGRE Venue BarColorado Springs, CO501(c)(3)General Support$15,000
Canine Campus Dog Daycare & BoardingColorado Springs, CO-General Support$15,000
Carefree Bar and GrillColorado Springs, CO-General Support$15,000
Impressed by the DressColorado Springs, CO-General Support$15,000
LuchalsColorado Springs, CO-General Support$15,000
Molina Heating & CoolingColorado Springs, CO-General Support$15,000
Smoothie Paradise & PretzelsColorado Springs, CO-General Support$15,000
Pollinate MarketingColorado Springs, CO-General Support$14,000
Root Down & Grow IncColorado Springs, CO-General Support$11,000
Intrawest Seamless Gutters IncColorado Springs, CO-General Support$10,000
JamaruColorado Springs, CO-General Support$10,000
Ormao Dance CompanyColorado Springs, CO-General Support$10,000
The Seabaugh Group LLC dba Little Monkey BiznessColorado Springs, CO-General Support$10,000
Tree Artisans LLCColorado Springs, CO-General Support$10,000
Western States Optical IncColorado Springs, CO-General Support$10,000
Scratch Mobile KitchenColorado springs, CO-General Support$9,000
Pikes Perk Mountain ShadowsColorado Springs, CO-General Support$8,000
Rod Mench Sculpture Studios LLCColorado Springs, CO-General Support$7,000
Embroider ExpressionColorado springs, CO-General Support$6,000
Sweet Addict BakeryColorado Springs, CO-General Support$5,900
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

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

Other Reported Liabilities

LiabilityAmount
Loans$1,849,784
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
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
Yes
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

“Vance Brown, President, and Betsy Brown, Secretary, are married.”

Form 990, Part VI, Section A, Line 4

“During the year, the organization changed Article 2, section 2.3 of the Bylaws to increase the maximum number of directors to 15.”

Form 990, Part VI, Section A, Lines 6 & 7A

“The Organization has members that are elected by the governing body.”

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

“The decisions of the governing body are subject to the approval by the voting members of the organization.”

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

“THE ORGANIZATION REQUIRES ALL MEMBERS OF THE GOVERNING BODY TO SIGN AND SUBMIT ANNUALLY A FORM DISCLOSING ANY CONFLICTS OF INTEREST.r.”

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

“Compensation is authorized or ratified by the Board of Directors. Election or appointment of an officer shall not of itself create a contractual right to compensation for services performed as such officer.”

Form 990, Part VI, Section C, Line 19

“The governing documents, conflict of interest policy and form 990 are available upon request and on the website of others, such as guidestar.”

Filing and Contact Details

Filer

Filer Name
Exponential Impact
EIN
82-2707012
In Care Of
% VANCE BROWN
Phone
7196608888
Address
3650 N Nevada Ave, Colorado Springs, CO 80907

Signing Officer

Name
Vance Brown
Title
Executive Director
Phone
7198608888
Signed
2023-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Vance Brown
Formed
2017
Legal Domicile
Co
Voting Board Members
10
Independent Board Members
9
Employees
13
Volunteers
75

Preparer

Firm
Stockman Kast Ryan & Co Llp
Address
102 N CASCADE AVENUE SUITE 400, COLORADO SPRINGS, CO 80903
Preparer
Doreen B Merz
Phone
7196301186
Supplemental Narrative

Financial Statement Notes

Part X line 2

“Income Tax Status - The Organization is exempt, under Section 501(c)(3) of the Internal Revenue Code, from tax on income derived from donations, income generated by activities carried on in furtherance of its exempt purpose and certain other specified income and, in addition, is qualified to receive tax deductible contributions. Management believes that based on evaluation of its tax position, any liability as a result of uncertain tax positions would not be material. Management continually evaluates expiring statutes of limitations, changes in the tax laws, and new authoritative rulings to assist in evaluating its tax position. Accrued interest and penalties associated with uncertain tax positions, if any, would be recognized as part of the income tax provision.”

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IRS990/Form990PartVIISectionAGrp/PersonNm5Jeff Greene
IRS990/Form990PartVIISectionAGrp/PersonNm6Sarah Jane Maxted
IRS990/Form990PartVIISectionAGrp/PersonNm7Hannah Parsons
IRS990/Form990PartVIISectionAGrp/PersonNm8Emily Spratt
IRS990/Form990PartVIISectionAGrp/PersonNm9Jay Jesse
IRS990/Form990PartVIISectionAGrp/PersonNm10Leif Ullman
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IRS990/Form990PartVIISectionAGrp/TitleTxt5Director
IRS990/Form990PartVIISectionAGrp/TitleTxt6Director
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Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,778,747
Liabilities
$1,870,215
Net assets
$1,908,532
Revenue
$3,043,599
Expenses
$1,979,926
Net income
$1,063,673
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$5.30$0.68$4.61$2.15$0.80$1.35
2023Detailed filing. Detailed filing data is available for this year.$4.06$2.19$1.87$0.65$0.59$0.06
2022Detailed filing. Detailed filing data is available for this year.$3.78$1.87$1.91$3.04$1.98$1.06
2021Detailed filing. Detailed filing data is available for this year.$3.02$2.18$0.84$1.13$0.87$0.26
2020Detailed filing. Detailed filing data is available for this year.$2.72$2.16$0.55$0.65$0.39$0.25
2019Detailed filing. Detailed filing data is available for this year.$0.30$0.00$0.30$0.71$0.48$0.23
2018Detailed filing. Detailed filing data is available for this year.$0.07$0.00$0.07$0.32$0.34$0.02
2017Detailed filing. Detailed filing data is available for this year.$0.10$0.01$0.09$0.10$0.01$0.09