Civic Intelligence

University Venture Fund Davis

990 • Fiscal year 2020 • EIN 87-0680932

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 09, 2021

Organization ProfileWWW.UVENTUREFUND.COM
85 Fort Douglas Bldg 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

56th percentile

0.00x

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

2020 filings • 501(c)4 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

55th percentile

0.00x

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

2020 filings • 501(c)4 • <$500k nonprofits • Source year 2020

Net Margin

26th percentile

-16%

Higher net margin than 26% of similar nonprofits.

2020 filings • 501(c)4 • <$500k nonprofits • Source year 2020

Top Officer Pay

95th percentile

$37,322

Higher top officer pay than 95% of similar nonprofits.

Top officer pay equals 79.9% of source-year revenue.

2020 filings • 501(c)4 • <$500k nonprofits • Source year 2020

Asset Growth

36th percentile

-5.0%

Faster asset growth than 36% of similar nonprofits.

2020 filings • 501(c)4 • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

53rd percentile

-11%

Faster revenue growth than 53% of similar nonprofits.

2020 filings • 501(c)4 • <$500k nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets56th percentile

Assets

Down

$52,256

Down $2,728 (-5.0%) from 2019

Net Assets

Down

$52,256

Down $2,728 (-5.0%) from 2019

Liabilities

Flat

$0

Flat from 2019

Revenue And Expenses
Liabilities / Revenue55th percentileNet Margin26th percentile

Revenue

Down

$46,715

Down $5,847 (-11%) from 2019

Expenses

Down

$54,132

Down $332 (-0.6%) from 2019

Net Income

Down

-$7,417

Down $5,515 (-290%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth36th 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

2020

Assets$52,256
Liabilities$0
Net Assets$52,256
Open 2020 Filing

Operations Trend

Revenue Growth53rd 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

2020

Revenue$46,715
Expenses$54,132
Net Income-$7,417
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 9, 2021
Return Version
2020v4.0
Gross Receipts
$46,715
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$34,512$31,784▼ $2,728
Cash and Non-Interest-Bearing Accounts$1,463$11,421▲ $9,958
Accounts Receivable$19,009$9,051▼ $9,958
Total Assets$54,984$52,256▼ $2,728
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$54,984$52,256▼ $2,728
Total Net Assets Fund Balance$54,984$52,256▼ $2,728
Total Liabilities and Net Assets / Fund Balance$54,984$52,256▼ $2,728

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$13,575$13,575
Investment Program Related Org$31,784--
Compensation and Service Providers
Top Officer Pay95th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Jeramy LundManaging DirectorFT$37,322$37,322
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
$46,715
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-7,417
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$37,322
Other Expenses$16,810
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$31,724$5,598-$37,322
Fees for Services Other$2,238--$2,238
Other Expenses$11,220$1,372-$1,372
Total Functional Expenses$45,182$8,950$0$54,132
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 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
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 BLDG 602, SALT LAKE CITY, UT 84113

Signing Officer

Name
Jeramy Lund
Title
Managing Director
Phone
4356555133
Signed
2021-11-09
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 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 differences 6,935”

Raw XML Appendix336 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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IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
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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 DIFFERENCES 6,935
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 2
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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/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt047742
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/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt054984
IRS990/TotalAssetsEOYAmt052256
IRS990/TotalAssetsGrp/BOYAmt054984
IRS990/TotalAssetsGrp/EOYAmt052256
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt08950
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt045182
IRS990/TotalFunctionalExpensesGrp/TotalAmt054132
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt054984
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt052256
IRS990/TotalProgramServiceExpensesAmt045182
IRS990/TotalProgramServiceRevenueAmt046715
IRS990/TotalReportableCompFromOrgAmt050522
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt046715
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt046715
IRS990/TotalVolunteersCnt012
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt054984
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt052256
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
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/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JERAMY LUND
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0MANAGING DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum04356555133
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-11-09
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0UNIVERSITY VENTURE FUND
ReturnHeader/Filer/BusinessNameControlTxt0UNIV
ReturnHeader/Filer/EIN0870680932
ReturnHeader/Filer/PhoneNum08012461873
ReturnHeader/Filer/USAddress/AddressLine1Txt085 FORT DOUGLAS BLDG 602
ReturnHeader/Filer/USAddress/CityNm0SALT LAKE CITY
ReturnHeader/Filer/USAddress/StateAbbreviationCd0UT
ReturnHeader/Filer/USAddress/ZIPCd084113
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/PreparationDt02021-11-09
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JAMES C BUDGE CPA
ReturnHeader/ReturnTs02021-11-15T17:57:59-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0JERAMY
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0LUND
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$52,256
Liabilities
$0
Net assets
$52,256
Revenue
$46,715
Expenses
$54,132
Net income
-$7,417
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