Civic Intelligence

Unitus Labs

990 • Fiscal year 2023 • EIN 87-0621367

Jan 01, 2023 to Dec 31, 2023 • Filed on May 16, 2024

435 S 660 WOrem, UT 84058-6078

(801) 362-8998

Siviq Scores

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

Liabilities / Assets

17th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

17th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

93rd percentile

60%

Higher net margin than 93% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

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

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

96th percentile

146%

Faster asset growth than 96% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

88th percentile

70%

Faster revenue growth than 88% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Assets

Flat

$1,213,316

Flat from 2023

Net Assets

Flat

$1,213,316

Flat from 2023

Liabilities

Flat

$0

Flat from 2023

Revenue

Flat

$1,201,480

Flat from 2023

Expenses

Flat

$481,320

Flat from 2023

Net Income

Flat

$720,160

Flat from 2023

Historical Trend

Balance Sheet Trend

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

$2.0M$1.5M$1.0M$500K$0Assets 2011: $1,952,572Liabilities 2011: $1,300,665Net Assets 2011: $651,9072011Assets 2012: $324,170Liabilities 2012: $93,713Net Assets 2012: $230,4572012Assets 2013: $269,370Liabilities 2013: $0Net Assets 2013: $269,3702013Assets 2014: $201,592Liabilities 2014: $0Net Assets 2014: $201,5922014Assets 2015: $1,025,221Liabilities 2015: $0Net Assets 2015: $1,025,2212015Assets 2016: $1,109,966Liabilities 2016: $0Net Assets 2016: $1,109,9662016Assets 2017: $619,628Liabilities 2017: $0Net Assets 2017: $619,6282017Assets 2018: $736,651Liabilities 2018: $0Net Assets 2018: $736,6612018Assets 2019: $301,449Liabilities 2019: $0Net Assets 2019: $301,4492019Assets 2021: $560,734Liabilities 2021: $0Net Assets 2021: $560,7342021Assets 2022: $493,156Liabilities 2022: $0Net Assets 2022: $493,1562022Assets 2023: $1,213,316Liabilities 2023: $0Net Assets 2023: $1,213,3162023Assets 2023: $1,213,316Liabilities 2023: $0Net Assets 2023: $1,213,3162023

Highlighted filing

2023

Assets$1,213,316
Liabilities$0
Net Assets$1,213,316

Operations Trend

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

$1.5M$1.0M$500K$0-$500KExpenses 2011: $903,2472011Expenses 2012: $543,9092012Revenue 2013: $75,976Expenses 2013: $45,689Net Income 2013: $30,2872013Revenue 2014: $5,414Expenses 2014: $102,482Net Income 2014: -$97,0682014Revenue 2015: $1,284,137Expenses 2015: $460,508Net Income 2015: $823,6292015Revenue 2016: $598,231Expenses 2016: $513,546Net Income 2016: $84,6852016Revenue 2017: $476,832Expenses 2017: $967,109Net Income 2017: -$490,2772017Revenue 2018: $1,266,088Expenses 2018: $1,149,066Net Income 2018: $117,0222018Revenue 2019: $346,835Expenses 2019: $839,414Net Income 2019: -$492,5792019Revenue 2021: $558,382Expenses 2021: $763,155Net Income 2021: -$204,7732021Revenue 2022: $705,610Expenses 2022: $773,188Net Income 2022: -$67,5782022Revenue 2023: $1,201,480Expenses 2023: $481,320Net Income 2023: $720,1602023Revenue 2023: $1,201,480Expenses 2023: $481,320Net Income 2023: $720,1602023

Highlighted filing

2023

Revenue$1,201,480
Expenses$481,320
Net Income$720,160
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
May 16, 2024
Return Version
2023v5.0
Gross Receipts
$1,201,480
Mission and Program Overview

Mission

Unitus labs provides consulting support, loans and investments to partner organizations in developing countries who are implementing innovative market-based approaches to reducing global poverty with potential for very large scale impact.

Unitus Labs seeks to reduce global poverty through economic self-empowerment

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$484,842$1,205,004▲ $720,162
Savings and Temporary Cash Investments$0$0→ $0
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$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
Land, Buildings, and Equipment, Net$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$493,156$1,213,316▲ $720,160
Other Assets Total$8,314$8,312▼ $2
Liabilities
Accounts Payable and Accrued Expenses$0$0→ $0
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$493,156$1,213,316▲ $720,160
Net Assets With Donor Restrictions$0$0→ $0
Total Net Assets Fund Balance$493,156$1,213,316▲ $720,160
Total Liabilities and Net Assets / Fund Balance$493,156$1,213,316▲ $720,160
Compensation and Service Providers

Board Members and Trustees

NameTitle
Joseph GrennyChairman
Robert GayBoard Member
Tim StayBoard Member
Mike MurraySecretary

Highest Paid Contractors

ContractorServicesLocationCompensation
Maker LLCManagement Services435 S 660 W, Orem, UT 84058$117,000
Revenue and Support

Revenue Composition

Contributions and Grants
$1,190,671
Program Service Revenue
$0
Investment Income
$10,809
Other Revenue
$0
All Other Contributions
$1,190,671
Change in Net Assets
$720,160
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$350,000
Other Expenses$131,320
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Foreign Grants$350,000--$350,000
Fees for Services Management$117,000$0$0$117,000
Office Expenses$0$5,713$0$5,713
Fees for Services Other$0$4,490$0$4,490
Fees for Services Accounting$2,781$0$0$2,781
Information Technology$0$1,078$0$1,078
Fees for Services Legal$258$0$0$258
Total Functional Expenses$470,039$11,281$0$481,320
International Activity

International Summary

Offices
0
Employees
0
Spending
$350,000

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
Sub-Saharan AfricaGrantmakingHumanitarian00$350,000
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

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-Maker is ownedManagement servicesNo$117,000

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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
Yes
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
Yes

Governance Explanations

Part VI, Section B, Line 1

There are no material difference in voting rights.

Part VI, Line 3

Unitus Labs has delegated management duties to a third party Maker LLC. Unitus Labs paid Maker LLC for these services. Tim Stay CEO Board Member is an owner of Maker LLC.

Part VI, Line 11A

A board member will review the form 990 prior to filing.

Part VI, Line 12C

The policy covers board members officers and key employees who are required to disclose to the Conflicts Committee all material facts relating to the potential conflict of interest. The committee members vote to determine whether the arrangement in question would provide a private economic benefit to an interested person and if so whether its terms are fair and reasonable and in the best interest of Unitus Labs.

Part VI, Line 19

Prior period audited financial statements are available for download on our website. Our articles of incorporation are made available to the public by the State of Utah. We provide our conflict of interest policy and financial reports upon request.

Filing and Contact Details

Filer

Filer Name
Unitus Labs
EIN
87-0621367
In Care Of
% Tim Stay
Phone
8013628998
Address
435 S 660 W, OREM, UT 84058-6078

Signing Officer

Name
Timothy Stay
Title
CEO
Signed
2024-05-16

Organization Details

Formed
2000
Legal Domicile
Ut
Voting Board Members
4
Independent Board Members
3
Employees
0
Volunteers
4
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Detailed filing. Detailed filing data is available for this year.$1.21$0.00$1.21$1.20$0.48$0.72
2023Summary only. Only limited summary data is available for this year.$1.21$0.00$1.21$1.20$0.48$0.72
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.49$0.00$0.49$0.71$0.77$0.07
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.56$0.00$0.56$0.56$0.76$0.20
2019Summary only. Only limited summary data is available for this year.$0.30$0.00$0.30$0.35$0.84$0.49
2018Summary only. Only limited summary data is available for this year.$0.74$0.00$0.74$1.27$1.15$0.12
2017Summary only. Only limited summary data is available for this year.$0.62$0.00$0.62$0.48$0.97$0.49
2016Summary only. Only limited summary data is available for this year.$1.11$0.00$1.11$0.60$0.51$0.08
2015Detailed filing. Detailed filing data is available for this year.$1.03$0.00$1.03$1.28$0.46$0.82
2014Detailed filing. Detailed filing data is available for this year.$0.20$0.00$0.20$0.01$0.10$0.10
2013Detailed filing. Detailed filing data is available for this year.$0.27$0.00$0.27$0.08$0.05$0.03
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.32$0.09$0.23$0.54
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.95$1.30$0.65$0.90