Civic Intelligence

Elevaate Biotech Inc.

990 • Fiscal year 2024 • EIN 99-4359759

Jul 01, 2024 to Dec 31, 2024 • Filed on Nov 13, 2025

Organization ProfileWWW.ELEVAATE.ORG
272 West 107th Street Apt 3CNew York, NY 10025

(917) 819-6262

Siviq Scores

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

Liabilities / Assets

83rd percentile

0.09x

Higher debt load relative to assets than 83% of similar nonprofits.

2024 filings • NTEE S99 • <$500k nonprofits • Source year 2024

Liabilities / Revenue

80th percentile

0.07x

Higher debt load relative to revenue than 80% of similar nonprofits.

2024 filings • NTEE S99 • <$500k nonprofits • Source year 2024

Net Margin

87th percentile

66%

Higher net margin than 87% of similar nonprofits.

2024 filings • NTEE S99 • <$500k nonprofits • Source year 2024

Top Officer Pay

98th percentile

$91,929

Higher top officer pay than 98% of similar nonprofits.

Top officer pay equals 19.4% of source-year revenue.

2024 filings • NTEE S99 • <$500k nonprofits • 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 / Assets83rd percentile

Assets

$344,705

No earlier filing loaded for comparison.

Net Assets

$313,568

No earlier filing loaded for comparison.

Liabilities

$31,137

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue80th percentileNet Margin87th percentile

Revenue

$475,036

No earlier filing loaded for comparison.

Expenses

$161,468

No earlier filing loaded for comparison.

Net Income

$313,568

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.

$400K$300K$200K$100K$0Assets 2024: $344,705Liabilities 2024: $31,137Net Assets 2024: $313,5682024

Highlighted filing

2024

Assets$344,705
Liabilities$31,137
Net Assets$313,568
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: $475,036Expenses 2024: $161,468Net Income 2024: $313,5682024

Highlighted filing

2024

Revenue$475,036
Expenses$161,468
Net Income$313,568
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Dec 31, 2024
Signed
Nov 13, 2025
Return Version
2024v5.2
Gross Receipts
$475,036
Mission and Program Overview

Mission

Elevaate biotech, inc. Is a non-profit organization dedicated to furthering east asian american leadership of the biotech and pharmaceutical industries. Elevaate works to strengthen networks of senior and mid-career east asian americans in biopharma and to empower current east asian american leaders, and mentor and train rising executives.

Dedicated to furthering east asian american leadership of the biotech and pharmaceutical industries

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments-$237,136-
Pledges and Grants Receivable-$50,000-
Cash and Non-Interest-Bearing Accounts-$46,050-
Prepaid Expenses and Deferred Charges-$11,519-
Total Assets$0$344,705▲ $344,705
Liabilities
Accounts Payable and Accrued Expenses-$31,137-
Total Liabilities$0$31,137▲ $31,137
Net Assets / Fund Balance
Net Assets Without Donor Restrictions-$263,568-
Net Assets With Donor Restrictions-$50,000-
Total Net Assets Fund Balance$0$313,568▲ $313,568
Total Liabilities and Net Assets / Fund Balance$0$344,705▲ $344,705
Compensation and Service Providers
Top Officer Pay98th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Elaine ChenExecutive DirectorFT$91,929$91,929

Board Members and Trustees

NameTitle
June LeeChair
Bong KohBoard Member
Ken SongBoard Member
Lorence KimBoard Member
Matt KimBoard Member
Chen YuSecretary
Angie YouTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$475,000
Program Service Revenue
$0
Investment Income
$36
Other Revenue
$0
All Other Contributions
$475,000
Change in Net Assets
$313,568
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$103,809
Other Expenses$57,659
Total Fundraising Expense$8,568
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$38,333$52,708$4,792$95,833
Fees for Services Other$13,214$11,143-$24,357
Information Technology$13,002$2,221-$15,223
Payroll Taxes$3,179$4,372$398$7,949
Fees for Services Accounting-$4,500-$4,500
Office Expenses-$3,858$171$4,029
Travel$3,826--$3,826
Other Expenses$52$472$3,206$3,730
Advertising-$1,421-$1,421
Conferences and Meetings$363--$363
Fees for Services Legal-$210-$210
Other Employee Benefits$11$15$1$27
Total Functional Expenses$71,980$80,920$8,568$161,468
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal income taxes-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
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

“Form 990 is sent to the board members by email for their comments before it is filed.”

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

“Elevaate requires the board of directors to submit an annual statement certifying their compliance with the conflict of interest policy.”

Form 990, Part VI, Section B, Line 15A

“The executive directors compensation is determined by the full board after assessing the performance of the executive director, considering the organizations financial position and considering financial comparability data. This deliberation and decision is contemporaneously substantiated.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon written request.”

Filing and Contact Details

Filer

Filer Name
Elevaate Biotech Inc
EIN
99-4359759
In Care Of
% ELAINE CHEN
Phone
9178196262
Address
272 WEST 107TH STREET APT 3C, NEW YORK, NY 10025

Signing Officer

Name
Elaine Chen
Title
Executive Director
Phone
9178196262
Signed
2025-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Elaine Chen
Formed
2024
Legal Domicile
Ny
Voting Board Members
7
Independent Board Members
7
Employees
1
Volunteers
12

Preparer

Firm
Winnie Tam & Co Pc
Address
50 BROAD STREET SUITE 1002, NEW YORK, NY 10004
Preparer
Jessie Tam-moy
Phone
2127854600
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Fees for services other salesforce consulting 16,464 research and edit report 4,250 branding consultant 2,500 design consultant 899 and payroll fees 244 total of 24,357”

Financial Statement Notes

X 2

“- elevaate adopted financial accounting standards board fasb guidance on uncertain income tax positions in its financial statements. Elevaate recognizes the effect of tax positions only when they are more likely than not of being sustained. Management is not aware of any violation of its tax status as an organization exempt from income taxes.”

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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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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0- ELEVAATE ADOPTED FINANCIAL ACCOUNTING STANDARDS BOARD FASB GUIDANCE ON UNCERTAIN INCOME TAX POSITIONS IN ITS FINANCIAL STATEMENTS. ELEVAATE RECOGNIZES THE EFFECT OF TAX POSITIONS ONLY WHEN THEY ARE MORE LIKELY THAN NOT OF BEING SUSTAINED. MANAGEMENT IS NOT AWARE OF ANY VIOLATION OF ITS TAX STATUS AS AN ORGANIZATION EXEMPT FROM INCOME TAXES.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990 IS SENT TO THE BOARD MEMBERS BY EMAIL FOR THEIR COMMENTS BEFORE IT IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ELEVAATE REQUIRES THE BOARD OF DIRECTORS TO SUBMIT AN ANNUAL STATEMENT CERTIFYING THEIR COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE EXECUTIVE DIRECTORS COMPENSATION IS DETERMINED BY THE FULL BOARD AFTER ASSESSING THE PERFORMANCE OF THE EXECUTIVE DIRECTOR, CONSIDERING THE ORGANIZATIONS FINANCIAL POSITION AND CONSIDERING FINANCIAL COMPARABILITY DATA. THIS DELIBERATION AND DECISION IS CONTEMPORANEOUSLY SUBSTANTIATED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4FEES FOR SERVICES OTHER SALESFORCE CONSULTING 16,464 RESEARCH AND EDIT REPORT 4,250 BRANDING CONSULTANT 2,500 DESIGN CONSULTANT 899 AND PAYROLL FEES 244 TOTAL OF 24,357
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part IX, Line 11g
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IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0CA
IRS990/StatesWhereCopyOfReturnIsFldCd1HI
IRS990/StatesWhereCopyOfReturnIsFldCd2NY
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsEOYAmt0344705
IRS990/TotalAssetsGrp/BOYAmt00
IRS990/TotalAssetsGrp/EOYAmt0344705
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IRS990/TotalContributionsAmt0475000
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt08568
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt080920
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt071980
IRS990/TotalFunctionalExpensesGrp/TotalAmt0161468
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt031137
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt031137
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0313568
IRS990/TotalProgramServiceExpensesAmt071980
IRS990/TotalReportableCompFromOrgAmt091929
IRS990/TotalRevenueGrp/ExclusionAmt036
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0475036
IRS990/TotalVolunteersCnt012
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0344705
IRS990/TravelGrp/ProgramServicesAmt03826
IRS990/TravelGrp/TotalAmt03826
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IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
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IRS990/USAddress/CityNm0NEW YORK
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd010025
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0WWW.ELEVAATE.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0ELAINE CHEN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum09178196262
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-11-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ELEVAATE BIOTECH INC
ReturnHeader/Filer/BusinessNameControlTxt0ELEV
ReturnHeader/Filer/EIN0994359759
ReturnHeader/Filer/InCareOfNm0% ELAINE CHEN
ReturnHeader/Filer/PhoneNum09178196262
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ReturnHeader/Filer/USAddress/CityNm0NEW YORK
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd010025
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0133777972
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0WINNIE TAM & CO PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt050 BROAD STREET SUITE 1002
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NEW YORK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd010004
ReturnHeader/PreparerPersonGrp/PhoneNum02127854600
ReturnHeader/PreparerPersonGrp/PreparationDt02025-11-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JESSIE TAM-MOY
ReturnHeader/ReturnTs02025-11-13T03:16:42-00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-07-01
ReturnHeader/TaxPeriodEndDt02024-12-31
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
$344,705
Liabilities
$31,137
Net assets
$313,568
Revenue
$475,036
Expenses
$161,468
Net income
$313,568
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.45$0.31$3.14$4.75$1.61$3.14