Civic Intelligence

Elevate Quantum

990 • Fiscal year 2024 • EIN 93-1969790

Jan 01, 2024 to Sep 30, 2024 • Filed on Aug 14, 2025

Organization ProfileWWW.ELEVATEGUANTUM.ORG
7100 N Broadway 1QDenver, CO 80221

(720) 515-4622

Siviq Scores

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

Liabilities / Assets

84th percentile

0.38x

Higher debt load relative to assets than 84% of similar nonprofits.

2024 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2024

Liabilities / Revenue

69th percentile

0.09x

Higher debt load relative to revenue than 69% of similar nonprofits.

2024 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2024

Net Margin

48th percentile

4.0%

Higher net margin than 48% of similar nonprofits.

2024 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2024

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2024

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2024

Balance Sheet
Liabilities / Assets84th percentile

Assets

$125,560

No earlier filing loaded for comparison.

Net Assets

$78,194

No earlier filing loaded for comparison.

Liabilities

$47,366

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue69th percentileNet Margin48th percentile

Revenue

$510,520

No earlier filing loaded for comparison.

Expenses

$490,320

No earlier filing loaded for comparison.

Net Income

$20,200

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$150K$100K$50K$0Assets 2024: $125,560Liabilities 2024: $47,366Net Assets 2024: $78,1942024

Highlighted filing

2024

Assets$125,560
Liabilities$47,366
Net Assets$78,194
Open 2024 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$600K$400K$200K$0Revenue 2024: $510,520Expenses 2024: $490,320Net Income 2024: $20,2002024

Highlighted filing

2024

Revenue$510,520
Expenses$490,320
Net Income$20,200
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Sep 30, 2024
Signed
Aug 14, 2025
Return Version
2024v5.2
Gross Receipts
$510,520
Mission and Program Overview

Mission

Elevate quantum's exempt purpose is to unite colorado, new mexico, and wyoming to establish the mountain west as a global leader in quantum development. Their mission focuses on enhancing u.s. Economic and national security by fostering regional collaboration and strengthening engagement among stakeholders.

Elevate quantum's mission is to dramatically accelerate the pace of commercialization in quantum. Elevate quantum is a designated techhub by the u.s. Department of commerce economic development administration and boasts the largest regional consortium in america. The consortium of 120 organizations works to ensure that the region remains the global epicenter for quantum by helping turn cutting-edge research into world-changing companies, facilitating a vibrant startup and scale-up ecosystem and building a strong workforce.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$10,000$66,671▲ $56,671
Cash and Non-Interest-Bearing Accounts$52,948$58,889▲ $5,941
Total Assets$62,948$125,560▲ $62,612
Liabilities
Accounts Payable and Accrued Expenses$4,954$47,366▲ $42,412
Total Liabilities$4,954$47,366▲ $42,412
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$57,994$78,194▲ $20,200
Total Net Assets Fund Balance$57,994$78,194▲ $20,200
Total Liabilities and Net Assets / Fund Balance$62,948$125,560▲ $62,612
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Corban Tillemann-dickChair & Director
Anthony Neal-gravesDirector
Brooks JohnsonDirector
Dan CarusoDirector
Dr Colleen SimpsonDirector
Dr Marlou SlotDirector
Dr Matthias TroyerDirector
Jesus SalazarDirector
Massimo RuzzeneDirector
Wendy LeaDirector
Alex GreenbergEx Officio Director
Eve LiebermanEx Officio Director
Revenue and Support

Revenue Composition

Contributions and Grants
$510,141
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$379
All Other Contributions
$125,000
Change in Net Assets
$20,200
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$321,570
Salaries, Compensation, and Employee Benefits$168,750
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$197,900--$197,900
Other Salaries and Wages$168,750--$168,750
Advertising$64,008--$64,008
Conferences and Meetings$47,939--$47,939
Fees for Services Legal-$5,543-$5,543
Travel-$4,720-$4,720
Office Expenses$1,403--$1,403
Other Expenses-$57-$57
Total Functional Expenses$480,000$10,320$0$490,320
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
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
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
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“The board of directors review the form 990 before the return is filed with the internal revenue service.”

Form 990, Part VI, Section B, Line 12C

“Elevate quantum has adopted a written conflict of interest policy applicable to all directors, officers, employees, and volunteers. The policy requires annual written disclosures of actual, potential, or perceived conflicts of interest and affirms each individual's understanding and compliance with the policy. The policy defines conflicts of interest broadly, including financial interests, relationships with related parties, and potential excess benefit transactions. When a conflict is disclosed, the board of directors determines whether a conflict exists, excluding the interested person from deliberations and voting. If a conflict is found, the board evaluates whether the proposed transaction is fair, reasonable, and in the best interest of the organization, and may seek alternatives or comparability data. All proceedings, including disclosures, determinations, and votes, are documented in board minutes. The policy also includes procedures for addressing violations, maintaining confidentiality, and conducting periodic reviews to ensure compliance with charitable purposes and irs regulations.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents, conflict of interest policy, form 990, and financial statements available upon request for the same period of disclosure as set forth in section 6104(d).”

Filing and Contact Details

Filer

Filer Name
Elevate Quantum
EIN
93-1969790
Phone
7205154622
Address
7100 N BROADWAY 1Q, DENVER, CO 80221

Signing Officer

Name
Jessi Olsen
Title
COO/CFO
Phone
7205154622
Signed
2025-08-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jessi Olsen
Formed
2023
Legal Domicile
Co
Voting Board Members
12
Independent Board Members
12
Employees
0
Volunteers
12

Preparer

Firm
Rsm US Llp
Address
4 TIMES SQUARE, NEW YORK, NY 10036
Preparer
Karen Lo
Phone
2123721000
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Strategic consulting: program service expenses 197,900. Management and general expenses 0. Fundraising expenses 0. Total expenses 197,900.”

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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/TitleTxt11CHAIR & DIRECTOR
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0THE ORGANIZATION HAS ELECTED TO CHANGE ITS ACCOUNTING PERIOD TO A FISCIAL YEAR ENDING SEPTEMBER 30TH. THEREFORE, FOR THE CURRENT TAX YEAR, THE INFORMATION REPRESENTS A SHORT YEAR PERIOD FROM JANUARY 2024 TO SEPTEMBER 2024.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD OF DIRECTORS REVIEW THE FORM 990 BEFORE THE RETURN IS FILED WITH THE INTERNAL REVENUE SERVICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ELEVATE QUANTUM HAS ADOPTED A WRITTEN CONFLICT OF INTEREST POLICY APPLICABLE TO ALL DIRECTORS, OFFICERS, EMPLOYEES, AND VOLUNTEERS. THE POLICY REQUIRES ANNUAL WRITTEN DISCLOSURES OF ACTUAL, POTENTIAL, OR PERCEIVED CONFLICTS OF INTEREST AND AFFIRMS EACH INDIVIDUAL'S UNDERSTANDING AND COMPLIANCE WITH THE POLICY. THE POLICY DEFINES CONFLICTS OF INTEREST BROADLY, INCLUDING FINANCIAL INTERESTS, RELATIONSHIPS WITH RELATED PARTIES, AND POTENTIAL EXCESS BENEFIT TRANSACTIONS. WHEN A CONFLICT IS DISCLOSED, THE BOARD OF DIRECTORS DETERMINES WHETHER A CONFLICT EXISTS, EXCLUDING THE INTERESTED PERSON FROM DELIBERATIONS AND VOTING. IF A CONFLICT IS FOUND, THE BOARD EVALUATES WHETHER THE PROPOSED TRANSACTION IS FAIR, REASONABLE, AND IN THE BEST INTEREST OF THE ORGANIZATION, AND MAY SEEK ALTERNATIVES OR COMPARABILITY DATA. ALL PROCEEDINGS, INCLUDING DISCLOSURES, DETERMINATIONS, AND VOTES, ARE DOCUMENTED IN BOARD MINUTES. THE POLICY ALSO INCLUDES PROCEDURES FOR ADDRESSING VIOLATIONS, MAINTAINING CONFIDENTIALITY, AND CONDUCTING PERIODIC REVIEWS TO ENSURE COMPLIANCE WITH CHARITABLE PURPOSES AND IRS REGULATIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, FORM 990, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D).
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3STRATEGIC CONSULTING: PROGRAM SERVICE EXPENSES 197,900. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 197,900.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART IX, LINE 11G
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ReturnHeader/ReturnTs02025-08-15T12:34:51-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-09-30
ReturnHeader/TaxYr02024

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$125,560
Liabilities
$47,366
Net assets
$78,194
Revenue
$510,520
Expenses
$490,320
Net income
$20,200
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.26$0.47$0.78$5.11$4.90$0.20