Civic Intelligence

Extreme Tech Challenge

990 • Fiscal year 2022 • EIN 84-1753912

Jan 01, 2022 to Dec 31, 2022 • Filed on May 16, 2023

555 Bryant St Ste 419Palo Alto, CA 94301

(415) 992-0070

Siviq Scores

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

Liabilities / Assets

44th percentile

0.01x

Higher debt load relative to assets than 44% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Liabilities / Revenue

41st percentile

0.01x

Higher debt load relative to revenue than 41% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Net Margin

9th percentile

-42%

Higher net margin than 9% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Top Officer Pay

98th percentile

$287,500

Higher top officer pay than 98% of similar nonprofits.

Top officer pay equals 52.6% of source-year revenue.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Asset Growth

6th percentile

-33%

Faster asset growth than 6% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Revenue Growth

73rd percentile

37%

Faster revenue growth than 73% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Assets

Down

$508,211

Down $248,858 (-33%) from 2021

Net Assets

Down

$504,062

Down $231,343 (-31%) from 2021

Liabilities

Down

$4,149

Down $17,515 (-81%) from 2021

Revenue

Up

$546,934

Up $146,967 (+37%) from 2021

Expenses

Up

$778,277

Up $76,067 (+11%) from 2021

Net Income

Up

-$231,343

Up $70,900 (+23%) from 2021

Historical Trend

Balance Sheet Trend

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

$1.5M$1.0M$500K$0Assets 2019: $474,661Liabilities 2019: $873Net Assets 2019: $473,7882019Assets 2020: $1,082,048Liabilities 2020: $19,400Net Assets 2020: $1,062,6482020Assets 2021: $757,069Liabilities 2021: $21,664Net Assets 2021: $735,4052021Assets 2022: $508,211Liabilities 2022: $4,149Net Assets 2022: $504,0622022Assets 2023: $610,210Liabilities 2023: $23,778Net Assets 2023: $586,4322023Assets 2024: $302,284Liabilities 2024: $33,956Net Assets 2024: $268,3282024Assets 2025: $278,947Liabilities 2025: $8,879Net Assets 2025: $270,0682025

Highlighted filing

2022

Assets$508,211
Liabilities$4,149
Net Assets$504,062

Operations Trend

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

$1.5M$1.0M$500K$0-$500KRevenue 2019: $499,982Expenses 2019: $26,194Net Income 2019: $473,7882019Revenue 2020: $716,957Expenses 2020: $128,097Net Income 2020: $588,8602020Revenue 2021: $399,967Expenses 2021: $702,210Net Income 2021: -$302,2432021Revenue 2022: $546,934Expenses 2022: $778,277Net Income 2022: -$231,3432022Revenue 2023: $956,038Expenses 2023: $873,668Net Income 2023: $82,3702023Revenue 2024: $768,566Expenses 2024: $1,086,670Net Income 2024: -$318,1042024Revenue 2025: $621,767Expenses 2025: $620,027Net Income 2025: $1,7402025

Highlighted filing

2022

Revenue$546,934
Expenses$778,277
Net Income-$231,343
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
May 16, 2023
Return Version
2022v5.0
Gross Receipts
$546,934
Mission and Program Overview

Mission

The extreme tech challengesm (xtc) is a 501(c)(3) nonprofit devoted to elevating the next-generation of entrepreneurs creating new technologies and innovations to benefit humankind. Xtc supports and showcases the innovators harnessing the power of technology to address the greatest challenges facing humanity and our planet.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$755,630$505,573▼ $250,057
Prepaid Expenses and Deferred Charges$460$2,094▲ $1,634
Land, Buildings, and Equipment, Net$979$544▼ $435
Total Assets$757,069$508,211▼ $248,858
Liabilities
Accounts Payable and Accrued Expenses$21,664$4,149▼ $17,515
Total Liabilities$21,664$4,149▼ $17,515
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$735,405$504,062▼ $231,343
Net Assets With Donor Restrictions$0$0→ $0
Total Net Assets Fund Balance$735,405$504,062▼ $231,343
Total Liabilities and Net Assets / Fund Balance$757,069$508,211▼ $248,858

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$544$762$1,306
Buildings$0$0$0
Other Land Buildings$0$0$0
Land$0-$0
Leasehold Improvements$0$0$0
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Victoria SlivkoffExecutive Managing DirectorFT$262,500$25,000$287,500

Board Members and Trustees

NameTitle
Young SohnChairman of the Board and President
Catherine BischoffBoard Member
Lars RegerBoard Member
William TaiBoard Member and CFO
John ParkSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$546,934
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$546,934
Change in Net Assets
$-231,343
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$424,347
Salaries, Compensation, and Employee Benefits$353,930
Total Fundraising Expense$134,083
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$163,001$29,204$95,295$287,500
Fees for Services Other$154,392$43,575$5,407$203,374
Other Expenses$100,112$2,005$283$102,400
Travel$81,937$335$12,106$94,378
Other Salaries and Wages$27,222$4,877$15,915$48,014
Payroll Taxes$10,396$3,051$4,969$18,416
Fees for Services Accounting-$10,526-$10,526
Office Expenses$1,877$3,783$100$5,760
Insurance-$3,055-$3,055
Information Technology$1,211$1,184$8$2,403
Conferences and Meetings$1,758--$1,758
Depreciation Depletion-$435-$435
Advertising$90$168-$258
Total Functional Expenses$541,996$102,198$134,083$778,277
International Activity

International Summary

Offices
0
Employees
0
Spending
$0

International Compliance

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 and Greenland)FundraisingSponsorship--$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
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
No
Other officer compensation reviewed
No
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

We do not have a specific process in place. However, in general it will be reviewed by the managing director and other members of the core xtc volunteer team. Once we are satisfied, the completed tax form will be sent to the president and cfo for final review and approval.

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

Directors and officers of xtc are required to sign the xtc conflict of interest policy and acknowledge annually. The current directors and officers initially signed the conflict of interest policy for xtc in january of 2020. Xtc intends to have any new officers and directors enter into the conflict of interest policy upon becoming an officer or director, and then will send out acknowledgements annually. To date, there have not been any business transactions that would constitute a conflict of interest. If a situation comes up that may be a conflict of interest, xtc will abide by the policy, and contact its attorneys for additional guidance if necessary.

Form 990, Part VI, Section C, Line 19

Governing and financial documents are made available upon reasonable request.

Filing and Contact Details

Filer

Filer Name
Extreme Tech Challenge
EIN
84-1753912
Phone
4159920070
Address
555 BRYANT ST STE 419, PALO ALTO, CA 94301

Signing Officer

Name
William Tai
Title
Chief Financial Officer
Phone
4085026717
Signed
2023-05-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Young Sohn
Formed
2019
Legal Domicile
CA
Voting Board Members
4
Independent Board Members
4
Employees
2
Volunteers
100

Preparer

Firm
Easy Office Dba Jitasa
Address
1120 S ROCKHAM WAY SUITE 300, MERIDIAN, ID 83642
Preparer
Jeremy Cork
Phone
2082874777
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Payroll service fees, contract service expenses

Raw XML AppendixShowing 400 of 437 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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IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt00
IRS990ScheduleD/BuildingsGrp/DepreciationAmt00
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/EquipmentGrp/BookValueAmt0544
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0762
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt01306
IRS990ScheduleD/LandGrp/BookValueAmt00
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0544
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTotalExpendituresAmt00
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt0Europe (including Iceland and Greenland)
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt0SPONSORSHIP
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt0Fundraising
IRS990ScheduleF/BoycottCountriesInd00
IRS990ScheduleF/ForeignCorpOwnershipInd00
IRS990ScheduleF/ForeignPartnershipInd00
IRS990ScheduleF/InterestInForeignTrustInd00
IRS990ScheduleF/PassiveForeignInvestmestCoInd00
IRS990ScheduleF/TotalEmployeeCnt00
IRS990ScheduleF/TotalOfficeCnt00
IRS990ScheduleF/TotalSpentAmt00
IRS990ScheduleF/TransferToForeignCorpInd00
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/CompensationSurveyInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0262500
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt025000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0VICTORIA SLIVKOFF
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0EXECUTIVE MANAGING DIRECTOR
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0287500
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0WE DO NOT HAVE A SPECIFIC PROCESS IN PLACE. HOWEVER, IN GENERAL IT WILL BE REVIEWED BY THE MANAGING DIRECTOR AND OTHER MEMBERS OF THE CORE XTC VOLUNTEER TEAM. ONCE WE ARE SATISFIED, THE COMPLETED TAX FORM WILL BE SENT TO THE PRESIDENT AND CFO FOR FINAL REVIEW AND APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1DIRECTORS AND OFFICERS OF XTC ARE REQUIRED TO SIGN THE XTC CONFLICT OF INTEREST POLICY AND ACKNOWLEDGE ANNUALLY. THE CURRENT DIRECTORS AND OFFICERS INITIALLY SIGNED THE CONFLICT OF INTEREST POLICY FOR XTC IN JANUARY OF 2020. XTC INTENDS TO HAVE ANY NEW OFFICERS AND DIRECTORS ENTER INTO THE CONFLICT OF INTEREST POLICY UPON BECOMING AN OFFICER OR DIRECTOR, AND THEN WILL SEND OUT ACKNOWLEDGEMENTS ANNUALLY. TO DATE, THERE HAVE NOT BEEN ANY BUSINESS TRANSACTIONS THAT WOULD CONSTITUTE A CONFLICT OF INTEREST. IF A SITUATION COMES UP THAT MAY BE A CONFLICT OF INTEREST, XTC WILL ABIDE BY THE POLICY, AND CONTACT ITS ATTORNEYS FOR ADDITIONAL GUIDANCE IF NECESSARY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2GOVERNING AND FINANCIAL DOCUMENTS ARE MADE AVAILABLE UPON REASONABLE REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3PAYROLL SERVICE FEES, CONTRACT SERVICE EXPENSES
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section C, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part IX, Line 11g
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0CA
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0757069
IRS990/TotalAssetsEOYAmt0508211
IRS990/TotalAssetsGrp/BOYAmt0757069
IRS990/TotalAssetsGrp/EOYAmt0508211
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalContributionsAmt0546934
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt0134083
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0102198
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0541996
IRS990/TotalFunctionalExpensesGrp/TotalAmt0778277
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt021664
IRS990/TotalLiabilitiesEOYAmt04149
IRS990/TotalLiabilitiesGrp/BOYAmt021664
IRS990/TotalLiabilitiesGrp/EOYAmt04149
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0735405
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0504062
IRS990/TotalOtherCompensationAmt00
IRS990/TotalOtherProgSrvcExpenseAmt00
IRS990/TotalOtherProgSrvcGrantAmt00
IRS990/TotalOtherProgSrvcRevenueAmt00
IRS990/TotalProgramServiceExpensesAmt0541996
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalReportableCompFromOrgAmt0287500
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0546934
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt0100
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0757069
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0508211
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/FundraisingAmt012106
IRS990/TravelGrp/ManagementAndGeneralAmt0335
IRS990/TravelGrp/ProgramServicesAmt081937
IRS990/TravelGrp/TotalAmt094378
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0555 BRYANT ST STE 419
IRS990/USAddress/CityNm0PALO ALTO
IRS990/USAddress/StateAbbreviationCd0CA
IRS990/USAddress/ZIPCd094301

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