Civic Intelligence

University Venture Fund Davis

990 • Fiscal year 2018 • EIN 87-0680932

Jan 01, 2018 to Dec 31, 2018 • Filed on Jul 29, 2019

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

57th percentile

0.00x

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

2018 filings • 501(c)4 • <$500k nonprofits • Source year 2018

Liabilities / Revenue

57th percentile

0.00x

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

2018 filings • 501(c)4 • <$500k nonprofits • Source year 2018

Net Margin

38th percentile

-1.6%

Higher net margin than 38% of similar nonprofits.

2018 filings • 501(c)4 • <$500k nonprofits • Source year 2018

Top Officer Pay

95th percentile

$37,871

Higher top officer pay than 95% of similar nonprofits.

Top officer pay equals 69.5% of source-year revenue.

2018 filings • 501(c)4 • <$500k nonprofits • Source year 2018

Asset Growth

42nd percentile

-1.5%

Faster asset growth than 42% of similar nonprofits.

2018 filings • 501(c)4 • <$500k nonprofits • Annualized from 2017 to 2018

Revenue Growth

10th percentile

-36%

Faster revenue growth than 10% of similar nonprofits.

2018 filings • 501(c)4 • <$500k nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets57th percentile

Assets

Down

$56,886

Down $880 (-1.5%) from 2017

Net Assets

Down

$56,886

Down $880 (-1.5%) from 2017

Liabilities

Flat

$0

Flat from 2017

Revenue And Expenses
Liabilities / Revenue57th percentileNet Margin38th percentile

Revenue

Down

$54,496

Down $31,190 (-36%) from 2017

Expenses

Down

$55,376

Down $34,071 (-38%) from 2017

Net Income

Up

-$880

Up $2,881 (+77%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth42nd 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

2018

Assets$56,886
Liabilities$0
Net Assets$56,886
Open 2018 Filing

Operations Trend

Revenue Growth10th 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

2018

Revenue$54,496
Expenses$55,376
Net Income-$880
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Jul 29, 2019
Return Version
2018v3.1
Gross Receipts
$54,496
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
Investments Program Related$37,293$36,413▼ $880
Cash and Non-Interest-Bearing Accounts$10,111$25,894▲ $15,783
Accounts Receivable$10,362$-5,421▼ $15,783
Total Assets$57,766$56,886▼ $880
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$57,766$56,886▼ $880
Total Net Assets Fund Balance$57,766$56,886▼ $880
Total Liabilities and Net Assets / Fund Balance$57,766$56,886▼ $880

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$13,575$13,575
Investment Program Related Org$36,413--
Compensation and Service Providers
Top Officer Pay95th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Jeramy LundManaging DirectorFT$37,871$37,871
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
$54,496
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-880
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$37,871
Other Expenses$17,505
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$32,190$5,681-$37,871
Fees for Services Other$1,584--$1,584
Fees for Services Accounting-$1,000-$1,000
Other Expenses$11,220$895-$895
Office Expenses$702$124-$826
Total Functional Expenses$45,696$9,680$0$55,376
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
2019-07-29
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
12

Preparer

Firm
Wsrp LLC
Address
155 N 400 W STE 400, SALT LAKE CITY, UT 84103
Preparer
James C Budge
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.”

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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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IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
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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/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
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 19
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IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt055376
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/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt057766
IRS990/TotalAssetsEOYAmt056886
IRS990/TotalAssetsGrp/BOYAmt057766
IRS990/TotalAssetsGrp/EOYAmt056886
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt09680
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt045696
IRS990/TotalFunctionalExpensesGrp/TotalAmt055376
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt057766
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt056886
IRS990/TotalProgramServiceExpensesAmt045696
IRS990/TotalProgramServiceRevenueAmt054496
IRS990/TotalReportableCompFromOrgAmt051071
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt054496
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt054496
IRS990/TotalVolunteersCnt012
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt057766
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt056886
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt057766
IRS990/UnrestrictedNetAssetsGrp/EOYAmt056886
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/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JERAMY LUND
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0MANAGING DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum04356555133
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-07-29
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/AtSubmissionCreationDeviceId07D134C042740751DC3B21C7970DAF204ACADCEAB
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId08F75EF8226B8A855965287399EE0B809BAD0E820
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt071.92.235.161
ReturnHeader/FilingSecurityInformation/IPDt02019-08-12
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm016:11:18
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/PreparationDt02019-07-29
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JAMES C BUDGE
ReturnHeader/ReturnTs02019-08-12T16:11:18-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-01-01
ReturnHeader/TaxPeriodEndDt02018-12-31
ReturnHeader/TaxYr02018

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$56,886
Liabilities
$0
Net assets
$56,886
Revenue
$54,496
Expenses
$55,376
Net income
-$880
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