Civic Intelligence

Revtech Labs Foundation

990 • Fiscal year 2023 • EIN 85-1313048

Jan 01, 2023 to Dec 31, 2023 • Filed on Aug 05, 2024

Organization ProfileWWW.RTLFOUNDATION.CO
222 S Church St Suite 100Charlotte, NC 28202

(704) 293-6987

Siviq Scores

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

Liabilities / Assets

29th percentile

0.02x

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

2023 filings • NTEE J • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

38th percentile

0.05x

Higher debt load relative to revenue than 38% of similar nonprofits.

2023 filings • NTEE J • $1M-$5M nonprofits • Source year 2023

Net Margin

75th percentile

19%

Higher net margin than 75% of similar nonprofits.

2023 filings • NTEE J • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

22nd percentile

$0

Higher top officer pay than 22% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2023 filings • NTEE J • $1M-$5M nonprofits • Source year 2023

Asset Growth

64th percentile

12%

Faster asset growth than 64% of similar nonprofits.

2023 filings • NTEE J • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

2nd percentile

-52%

Faster revenue growth than 2% of similar nonprofits.

2023 filings • NTEE J • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets29th percentile

Assets

Up

$2,503,450

Up $258,423 (+12%) from 2022

Net Assets

Up

$2,447,579

Up $202,552 (+9.0%) from 2022

Liabilities

Up

$55,871

Up $55,871 from 2022

Revenue And Expenses
Liabilities / Revenue38th percentileNet Margin75th percentile

Revenue

Down

$1,078,500

Down $1,166,849 (-52%) from 2022

Expenses

Up

$875,948

Up $875,626 (+271934%) from 2022

Net Income

Down

$202,552

Down $2,042,475 (-91%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth64th percentile

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

$3.0M$2.0M$1.0M$0Assets 2022: $2,245,027Liabilities 2022: $0Net Assets 2022: $2,245,0272022Assets 2023: $2,503,450Liabilities 2023: $55,871Net Assets 2023: $2,447,5792023Assets 2024: $2,626,259Liabilities 2024: $2,499Net Assets 2024: $2,623,7602024

Highlighted filing

2023

Assets$2,503,450
Liabilities$55,871
Net Assets$2,447,579
Open 2023 Filing

Operations Trend

Revenue Growth2nd percentile

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

$3.0M$2.0M$1.0M$0Revenue 2022: $2,245,349Expenses 2022: $322Net Income 2022: $2,245,0272022Revenue 2023: $1,078,500Expenses 2023: $875,948Net Income 2023: $202,5522023Revenue 2024: $952,201Expenses 2024: $776,020Net Income 2024: $176,1812024

Highlighted filing

2023

Revenue$1,078,500
Expenses$875,948
Net Income$202,552
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Aug 5, 2024
Return Version
2023v5.0
Gross Receipts
$1,078,500
Mission and Program Overview

Mission

The revtech labs team works to create broad networks of support for high- potential startups through our bi-annual hybrid accelerator programs for post-revenue fintech and insurtech startups from around the world. Working with founders on a customized roadmap and connecting them to the industry's top leaders and subject-matter experts. Our goal is to assemble a stage of globally diverse voices from different backgrounds, races, and genders to help revolutionize fintech, insurtech and healthtech. To this end, we make a conscientious commitment to bring together thought leaders who truly represent the growing diversity of these industries and our greater society to maximize the success of our founders.

The revtech labs foundation is the bridge to growth and success for fintech and insurtech startup founders. Our mission is to maximize the probability of success for high-potential startups by providing funding, a customized program and a robust network of executives, innovators and subject matter experts. The founder, and their success, is at the heart of everything we do.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable-$197,000-
Cash and Non-Interest-Bearing Accounts$27$61,450▲ $61,423
Pledges and Grants Receivable$11,000$11,000→ $0
Total Assets$2,245,027$2,503,450▲ $258,423
Other Assets Total$2,234,000$2,234,000→ $0
Liabilities
Accounts Payable and Accrued Expenses-$55,871-
Total Liabilities$0$55,871▲ $55,871
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,245,027$2,447,579▲ $202,552
Total Net Assets Fund Balance$2,245,027$2,447,579▲ $202,552
Total Liabilities and Net Assets / Fund Balance$2,245,027$2,503,450▲ $258,423

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$2,234,000--
Compensation and Service Providers
Top Officer Pay22nd percentile

Board Members and Trustees

NameTitle
Sara Garces RoselliPresident
Ken GacevichSecretary
Daniel RoselliTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,078,500
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$1,078,500
Change in Net Assets
$202,552
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$875,948
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Office Expenses$159,282$491,694-$650,976
Occupancy-$47,686-$47,686
Conferences and Meetings-$41,111-$41,111
Payment Travel Entrtnmnt Publicly Ofcl-$24,570-$24,570
Information Technology-$24,187-$24,187
Fees for Services Accounting-$23,462-$23,462
Fees for Services Management-$20,872-$20,872
Travel-$18,192-$18,192
Advertising-$11,094-$11,094
Interest-$6,402-$6,402
Insurance-$6,336-$6,336
Fees for Services Other-$1,060-$1,060
Total Functional Expenses$159,282$716,666$0$875,948
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
Backup withholding compliance
No
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“A draft of the return is presented to the board for review prior to filing. Changes, if any, are made and the return is filed.”

Form 990, Page 6, Part VI, Line 19

“DISCLOSED UPON REQUEST.”

Filing and Contact Details

Filer

Filer Name
Revtech Labs Foundation
EIN
85-1313048
Phone
7042936987
Address
222 S CHURCH ST SUITE 100, CHARLOTTE, NC 28202

Signing Officer

Name
Sara Garces Roselli
Title
President
Phone
7042776052
Signed
2024-08-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Sara Garces Roselli
Formed
2020
Legal Domicile
Nc
Voting Board Members
3
Independent Board Members
2
Employees
0
Volunteers
208

Preparer

Firm
Stell CPA Pllc
Address
1927 S TRYON ST STE 106, CHARLOTTE, NC 28203
Preparer
Steven M Stell CPA
Phone
7046312000
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The revtech labs team works to create broad networks of support for high- potential startups through our bi-annual hybrid accelerator programs for post-revenue fintech and insurtech startups from around the world. Working with founders on a customized roadmap and connecting them to the industry's top leaders and subject-matter experts. Our goal is to assemble a stage of globally diverse voices from different backgrounds, races, and genders to help revolutionize fintech, insurtech and healthtech. To this end, we make a conscientious commitment to bring together thought leaders who truly represent the growing diversity of these industries and our greater society to maximize the success of our founders.”

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE REVTECH LABS TEAM WORKS TO CREATE BROAD NETWORKS OF SUPPORT FOR HIGH- POTENTIAL STARTUPS THROUGH OUR BI-ANNUAL HYBRID ACCELERATOR PROGRAMS FOR POST-REVENUE FINTECH AND INSURTECH STARTUPS FROM AROUND THE WORLD. WORKING WITH FOUNDERS ON A CUSTOMIZED ROADMAP AND CONNECTING THEM TO THE INDUSTRY'S TOP LEADERS AND SUBJECT-MATTER EXPERTS. OUR GOAL IS TO ASSEMBLE A STAGE OF GLOBALLY DIVERSE VOICES FROM DIFFERENT BACKGROUNDS, RACES, AND GENDERS TO HELP REVOLUTIONIZE FINTECH, INSURTECH AND HEALTHTECH. TO THIS END, WE MAKE A CONSCIENTIOUS COMMITMENT TO BRING TOGETHER THOUGHT LEADERS WHO TRULY REPRESENT THE GROWING DIVERSITY OF THESE INDUSTRIES AND OUR GREATER SOCIETY TO MAXIMIZE THE SUCCESS OF OUR FOUNDERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A DRAFT OF THE RETURN IS PRESENTED TO THE BOARD FOR REVIEW PRIOR TO FILING. CHANGES, IF ANY, ARE MADE AND THE RETURN IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DISCLOSED UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
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ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd028202
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0800144242
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0STELL CPA PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01927 S TRYON ST STE 106
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CHARLOTTE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd028203
ReturnHeader/PreparerPersonGrp/PhoneNum07046312000
ReturnHeader/PreparerPersonGrp/PreparationDt02024-09-10
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0STEVEN M STELL CPA
ReturnHeader/ReturnTs02024-09-11T09:15:23-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,503,450
Liabilities
$55,871
Net assets
$2,447,579
Revenue
$1,078,500
Expenses
$875,948
Net income
$202,552
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.63$0.00$2.62$0.95$0.78$0.18
2023Detailed filing. Detailed filing data is available for this year.$2.50$0.06$2.45$1.08$0.88$0.20
2022Detailed filing. Detailed filing data is available for this year.$2.25$0.00$2.25$2.25$0.00$2.25