Civic Intelligence

University Venture Fund Davis

990 • Fiscal year 2016 • EIN 87-0680932

Jan 01, 2016 to Dec 31, 2016 • Filed on Mar 31, 2017

Organization ProfileWWW.UVENTUREFUND.COM
85 Fort Douglas Building 602Salt Lake City, UT 84113

(801) 246-1873

Siviq Scores

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

Liabilities / Assets

86th percentile

0.28x

Higher debt load relative to assets than 86% of similar nonprofits.

2016 filings • 501(c)4 • <$500k nonprofits • Source year 2016

Liabilities / Revenue

79th percentile

0.11x

Higher debt load relative to revenue than 79% of similar nonprofits.

2016 filings • 501(c)4 • <$500k nonprofits • Source year 2016

Net Margin

94th percentile

47%

Higher net margin than 94% of similar nonprofits.

2016 filings • 501(c)4 • <$500k nonprofits • Source year 2016

Top Officer Pay

95th percentile

$37,586

Higher top officer pay than 95% of similar nonprofits.

Top officer pay equals 18.4% of source-year revenue.

2016 filings • 501(c)4 • <$500k nonprofits • Source year 2016

Asset Growth

20th percentile

-15%

Faster asset growth than 20% of similar nonprofits.

2016 filings • 501(c)4 • <$500k nonprofits • Annualized from 2015 to 2016

Revenue Growth

8th percentile

-42%

Faster revenue growth than 8% of similar nonprofits.

2016 filings • 501(c)4 • <$500k nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets86th percentile

Assets

Down

$84,231

Down $14,957 (-15%) from 2015

Net Assets

Down

$60,830

Down $26,541 (-30%) from 2015

Liabilities

Up

$23,401

Up $11,584 (+98%) from 2015

Revenue And Expenses
Liabilities / Revenue79th percentileNet Margin94th percentile

Revenue

Down

$204,441

Down $145,563 (-42%) from 2015

Expenses

Down

$107,524

Down $244,614 (-69%) from 2015

Net Income

Up

$96,917

Up $99,051 (+4642%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth20th percentile

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

$400K$300K$200K$100K$0Assets 2010: $299,815Liabilities 2010: $77,051Net Assets 2010: $222,7642010Assets 2011: $299,728Liabilities 2011: $135,678Net Assets 2011: $164,0502011Assets 2012: $366,385Liabilities 2012: $151,494Net Assets 2012: $214,8912012Assets 2013: $174,561Liabilities 2013: $105,780Net Assets 2013: $68,7812013Assets 2014: $146,713Liabilities 2014: $52,995Net Assets 2014: $93,7182014Assets 2015: $99,188Liabilities 2015: $11,817Net Assets 2015: $87,3712015Assets 2016: $84,231Liabilities 2016: $23,401Net Assets 2016: $60,8302016Assets 2017: $57,766Liabilities 2017: $0Net Assets 2017: $57,7662017Assets 2018: $56,886Liabilities 2018: $0Net Assets 2018: $56,8862018Assets 2019: $54,984Liabilities 2019: $0Net Assets 2019: $54,9842019Assets 2020: $52,256Liabilities 2020: $0Net Assets 2020: $52,2562020Assets 2021: $43,281Liabilities 2021: $0Net Assets 2021: $43,2812021Assets 2022: $42,588Liabilities 2022: $02022

Highlighted filing

2016

Assets$84,231
Liabilities$23,401
Net Assets$60,830
Open 2016 Filing

Operations Trend

Revenue Growth8th percentile

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

$600K$400K$200K$0-$200KExpenses 2010: $551,8052010Expenses 2011: $476,8282011Expenses 2012: $462,4952012Revenue 2013: $343,224Expenses 2013: $500,696Net Income 2013: -$157,4722013Revenue 2014: $367,398Expenses 2014: $368,448Net Income 2014: -$1,0502014Revenue 2015: $350,004Expenses 2015: $352,138Net Income 2015: -$2,1342015Revenue 2016: $204,441Expenses 2016: $107,524Net Income 2016: $96,9172016Revenue 2017: $85,686Expenses 2017: $89,447Net Income 2017: -$3,7612017Revenue 2018: $54,496Expenses 2018: $55,376Net Income 2018: -$8802018Revenue 2019: $52,562Expenses 2019: $54,464Net Income 2019: -$1,9022019Revenue 2020: $46,715Expenses 2020: $54,132Net Income 2020: -$7,4172020Revenue 2021: $23,229Expenses 2021: $32,204Net Income 2021: -$8,9752021Revenue 2022: $0Expenses 2022: $693Net Income 2022: -$6932022

Highlighted filing

2016

Revenue$204,441
Expenses$107,524
Net Income$96,917
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Mar 31, 2017
Return Version
2016v3.0
Gross Receipts
$204,441
Mission and Program Overview

Mission

The organization's purpose is to mirror private sector venture capital firms, provide a real world business environment for students, and allow them to be mentored by experienced business and investment professionals by creating and maintaining venture capital funds and using the funds to invest in start-up companies.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$8,211$43,874▲ $35,663
Investments Program Related$90,977$40,357▼ $50,620
Total Assets$99,188$84,231▼ $14,957
Liabilities
Deferred Revenue-$23,401-
Accounts Payable and Accrued Expenses$11,817--
Total Liabilities$11,817$23,401▲ $11,584
Net Assets / Fund Balance
Unrestricted Net Assets$87,371$60,830▼ $26,541
Total Net Assets Fund Balance$87,371$60,830▼ $26,541
Total Liabilities and Net Assets / Fund Balance$99,188$84,231▼ $14,957

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$13,575$13,575
Investment Program Related Org$40,357--
Compensation and Service Providers
Top Officer Pay95th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Jeramy LundManaging DirectorFT$37,586$37,586
Ryan DavisCFO-$13,200$13,200

Board Members and Trustees

NameTitle
Taylor RandallChairman
James Lee SorensonDirector
Ladd E ChristensenDirector
Mac LapolletteDirector
Tom MinerDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$76,499
Investment Income
$127,942
Other Revenue
$0
Change in Net Assets
$96,917
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$69,938
Salaries, Compensation, and Employee Benefits$37,586
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$31,948$5,638-$37,586
Fees for Services Legal$29,326$3,259-$32,585
Insurance$13,013--$13,013
Fees for Services Other$2,131--$2,131
Other Expenses$3,120$1,856-$1,856
Fees for Services Accounting-$1,850-$1,850
Depreciation Depletion$1,115$278-$1,393
Office Expenses$671$119-$790
Total Functional Expenses$92,544$14,980$0$107,524
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
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
Yes
Other officer compensation reviewed
Yes
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, Page 6, Part VI, Line 2

“James l sorenson univ. Opportunity fund director investor lp investment”

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

“Form 990 is provided to the executive director, cfo, and other officers/directors for review.”

Form 990, Page 6, Part VI, Line 12C

“The board made a formal resolution to disclose any potential conflicts of interest. Each board member must disclose conflicts prior to any voting and must abstain from making investment decisions where potential conflicts exist.”

Form 990, Page 6, Part VI, Line 15A

“Executive director's compensation is determined by a compensation committee.”

Form 990, Page 6, Part VI, Line 15B

“Key employee compensation is determined by a compensation committee.”

Form 990, Page 6, Part VI, Line 19

“Governing documents and financial statements are available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
University Venture Fund
EIN
87-0680932
Phone
8012461873
Address
85 FORT DOUGLAS BUILDING 602, SALT LAKE CITY, UT 84113

Signing Officer

Name
Jeramy Lund
Title
Managing Director
Phone
4356555133
Signed
2017-03-31
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jeramy Lund
Formed
2001
Legal Domicile
Ut
Voting Board Members
5
Independent Board Members
4
Employees
1
Volunteers
35

Preparer

Firm
Wsrp LLC
Address
155 N 400 W STE 400, SALT LAKE CITY, UT 84103
Preparer
Steven R Smith CPA
Phone
8013282011
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The organization's purpose is to mirror private sector venture capital firms, provide a real world business environment for students, and allow them to be mentored by experienced business and investment professionals by creating and maintaining venture capital funds and using the funds to invest in start-up companies.”

Form 990, Part XI, Line 9

“Book / tax depreciation difference 1,393”

Raw XML Appendix366 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION'S PURPOSE IS TO MIRROR PRIVATE SECTOR VENTURE CAPITAL FIRMS, PROVIDE A REAL WORLD BUSINESS ENVIRONMENT FOR STUDENTS, AND ALLOW THEM TO BE MENTORED BY EXPERIENCED BUSINESS AND INVESTMENT PROFESSIONALS BY CREATING AND MAINTAINING VENTURE CAPITAL FUNDS AND USING THE FUNDS TO INVEST IN START-UP COMPANIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1JAMES L SORENSON UNIV. OPPORTUNITY FUND DIRECTOR INVESTOR LP INVESTMENT
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FORM 990 IS PROVIDED TO THE EXECUTIVE DIRECTOR, CFO, AND OTHER OFFICERS/DIRECTORS FOR REVIEW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD MADE A FORMAL RESOLUTION TO DISCLOSE ANY POTENTIAL CONFLICTS OF INTEREST. EACH BOARD MEMBER MUST DISCLOSE CONFLICTS PRIOR TO ANY VOTING AND MUST ABSTAIN FROM MAKING INVESTMENT DECISIONS WHERE POTENTIAL CONFLICTS EXIST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4EXECUTIVE DIRECTOR'S COMPENSATION IS DETERMINED BY A COMPENSATION COMMITTEE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5KEY EMPLOYEE COMPENSATION IS DETERMINED BY A COMPENSATION COMMITTEE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7BOOK / TAX DEPRECIATION DIFFERENCE 1,393
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15B
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART XI, LINE 9
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingEntityName/BusinessNameLine1Txt0UNIV VENT
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingEntityName/BusinessNameLine2Txt0UNIVERSITY VENTURE FUND
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd0true
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/EIN0161706703
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/GeneralOrManagingPartnerInd0true
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/LegalDomicileStateCd0UT
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/OwnershipPct00.01060
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/PredominantIncomeTypeTxt0RELATED
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/PrimaryActivitiesTxt0INVESTMENT
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/RelatedOrganizationName/BusinessNameLine1Txt0UNIV OPPORTUNITY FUND LLC
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/ShareOfEOYAssetsAmt040357
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/ShareOfTotalIncomeAmt0184712
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/AddressLine1Txt0299 S MAIN ST STE 900
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/CityNm0SALT LAKE CITY
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/StateAbbreviationCd0UT
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/ZIPCd084111
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt057761
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0CASH - GUARANTEED PAYMENT
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0UNIV OPPORTUNITY FUND LLC
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0S
IRS990ScheduleR/TransferFromOtherOrgInd0true
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt099188
IRS990/TotalAssetsEOYAmt084231
IRS990/TotalAssetsGrp/BOYAmt099188
IRS990/TotalAssetsGrp/EOYAmt084231
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt014980
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt092544
IRS990/TotalFunctionalExpensesGrp/TotalAmt0107524
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt011817
IRS990/TotalLiabilitiesEOYAmt023401
IRS990/TotalLiabilitiesGrp/BOYAmt011817
IRS990/TotalLiabilitiesGrp/EOYAmt023401
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt087371
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt060830
IRS990/TotalProgramServiceExpensesAmt092544
IRS990/TotalProgramServiceRevenueAmt076499
IRS990/TotalReportableCompFromOrgAmt050786
IRS990/TotalRevenueGrp/ExclusionAmt0127942
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt076499
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0204441
IRS990/TotalVolunteersCnt035
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt099188
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt084231
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt087371
IRS990/UnrestrictedNetAssetsGrp/EOYAmt060830
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0299 S MAIN STREET STE 310
IRS990/USAddress/CityNm0SALT LAKE CITY
IRS990/USAddress/StateAbbreviationCd0UT
IRS990/USAddress/ZIPCd084111
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0WWW.UVENTUREFUND.COM
IRS990/WhistleblowerPolicyInd0false
IRS990/WrittenPolicyOrProcedureInd0true
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JERAMY LUND
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0MANAGING DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum04356555133
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-03-31
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0UNIVERSITY VENTURE FUND
ReturnHeader/Filer/BusinessNameControlTxt0UNIV
ReturnHeader/Filer/EIN0870680932
ReturnHeader/Filer/PhoneNum08012461873
ReturnHeader/Filer/USAddress/AddressLine1Txt085 FORT DOUGLAS BUILDING 602
ReturnHeader/Filer/USAddress/CityNm0SALT LAKE CITY
ReturnHeader/Filer/USAddress/StateAbbreviationCd0UT
ReturnHeader/Filer/USAddress/ZIPCd084113
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0CF1BAC07DF63D93A3EE73DF65DC4D861316A94F0
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0DD3D43811F0429FA75EF01EE7621E1693A590557
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0870517754
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0WSRP LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0155 N 400 W STE 400
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0SALT LAKE CITY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0UT
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd084103
ReturnHeader/PreparerPersonGrp/PhoneNum08013282011
ReturnHeader/PreparerPersonGrp/PreparationDt02017-04-09
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0STEVEN R SMITH CPA
ReturnHeader/ReturnTs02017-04-14T22:09:23+00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-01-01
ReturnHeader/TaxPeriodEndDt02016-12-31
ReturnHeader/TaxYr02016

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$84,231
Liabilities
$23,401
Net assets
$60,830
Revenue
$204,441
Expenses
$107,524
Net income
$96,917
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Summary only. Only limited summary data is available for this year.$0.43$0.00$0.00$0.01$0.01
2021Detailed filing. Detailed filing data is available for this year.$0.43$0.00$0.43$0.23$0.32$0.09
2020Detailed filing. Detailed filing data is available for this year.$0.52$0.00$0.52$0.47$0.54$0.07
2019Detailed filing. Detailed filing data is available for this year.$0.55$0.00$0.55$0.53$0.54$0.02
2018Detailed filing. Detailed filing data is available for this year.$0.57$0.00$0.57$0.54$0.55$0.01
2017Detailed filing. Detailed filing data is available for this year.$0.58$0.00$0.58$0.86$0.89$0.04
2016Detailed filing. Detailed filing data is available for this year.$0.84$0.23$0.61$2.04$1.08$0.97
2015Detailed filing. Detailed filing data is available for this year.$0.99$0.12$0.87$3.50$3.52$0.02
2014Detailed filing. Detailed filing data is available for this year.$1.47$0.53$0.94$3.67$3.68$0.01
2013Detailed filing. Detailed filing data is available for this year.$1.75$1.06$0.69$3.43$5.01$1.57
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.66$1.51$2.15$4.62
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.00$1.36$1.64$4.77
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.00$0.77$2.23$5.52