ELEVATE VENTURES INC: Form 990, tax year 2014
View the entire original 990 at ProPublica ↗
- Organization
- ELEVATE VENTURES INC (EIN 27-4118692)
- Tax period
- 2014-01-01 to 2014-12-31
- Filed
- 2015-11-12
- IRS object ID
- 201543169349304189
- Schema version
- 2014v5.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2015-11-12T22:00:24-06:00 | ReturnTs |
| Tax Period End | 2014-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 350921680 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CROWE HORWATH LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 3815 River Crossing Parkway | AddressLine1Txt |
| Address Line2 | Suite 300 | AddressLine2Txt |
| City | Indianapolis | CityNm |
| State Abbreviation | IN | StateAbbreviationCd |
| ZIP | 462400977 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2014-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 274118692 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Elevate Ventures Inc | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | ELEV | BusinessNameControlTxt |
| Phone | 3172520258 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 50 East 91st St | AddressLine1Txt |
| City | Indianapolis | CityNm |
| State Abbreviation | IN | StateAbbreviationCd |
| ZIP | 46240 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Christopher LaMothe | PersonNm |
| Person Title | CHIEF EXECUTIVE OFFICER | PersonTitleTxt |
| Signature | 2015-11-12 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | RACHEL SPURLOCK | PreparerPersonNm |
| PTIN | P00520729 | PTIN |
| Phone | 3175698989 | PhoneNum |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2014 | TaxYr |
| Build TS | 2016-04-25 22:37:26Z | BuildTS |
Form 990 IRS990
Principal Ofcr Business Name PrincipalOfcrBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Christopher LaMothe | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 50 East 91st St | AddressLine1Txt |
| City | Indianapolis | CityNm |
| State Abbreviation | IN | StateAbbreviationCd |
| ZIP | 46240 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $3,127,391 | GrossReceiptsAmt |
| Group Return For Affiliates | false | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | www.elevateventures.com | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 2010 | FormationYr |
| Legal Domicile State | IN | LegalDomicileStateCd |
| Activity Or Mission | Elevate Ventures is a private venture development organization that nurtures and develops emerging and existing high-potential businesses into high-performing Indiana-based companies, with a focus on the technology, life sciences, and advanced manufacturing sectors. | ActivityOrMissionDesc |
| Voting Members Governing Body | 6 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 4 | VotingMembersIndependentCnt |
| Total Employee | 15 | TotalEmployeeCnt |
| Total Volunteers | 4 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $549,333 | PYContributionsGrantsAmt |
| CY Contributions Grants | $240,250 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $3,394,922 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $2,879,729 | CYProgramServiceRevenueAmt |
| PY Investment Income | $921 | PYInvestmentIncomeAmt |
| CY Investment Income | $5,279 | CYInvestmentIncomeAmt |
| PY Other Revenue | $2,516 | PYOtherRevenueAmt |
| CY Other Revenue | $2,133 | CYOtherRevenueAmt |
| PY Total Revenue | $3,947,692 | PYTotalRevenueAmt |
| CY Total Revenue | $3,127,391 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $218,000 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $1,749,028 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $2,006,139 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $14,134 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $1,302,747 | PYOtherExpensesAmt |
| CY Other Expenses | $1,277,111 | CYOtherExpensesAmt |
| PY Total Expenses | $3,051,775 | PYTotalExpensesAmt |
| CY Total Expenses | $3,501,250 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $895,917 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | -$373,859 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $4,026,409 | TotalAssetsBOYAmt |
| Total Assets EOY | $3,397,850 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $335,914 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $346,762 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $3,690,495 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $3,051,088 | NetAssetsOrFundBalancesEOYAmt |
| Mission | Elevate Ventures nurtures and develops emerging and existing high-potential businesses into high-performing, Indiana-based companies. We accomplish this by providing rigorous business analysis and robust advisory services that connect companies with the resources they need to succeed long-term. | MissionDesc |
| Significant New Program Srvc | false | SignificantNewProgramSrvcInd |
| Significant Change | false | SignificantChangeInd |
| Expense | $2,674,172 | ExpenseAmt |
| Grant | $218,000 | GrantAmt |
| Revenue | $2,879,729 | RevenueAmt |
| Desc | Direct Investment and Advisory Services Elevate employs Entrepreneurs-in-Residence (EIR) throughout the state to provide direct support and advisory services to Indiana companies. The EIR's work directly with companies to provide mentorship, service and advisory referrals, and introductions to capital sources. EIRs connect companies to potential business partners, service providers, investors, and talent. Elevate EIRs participated in 3 "Startup Weekend" events, mentored teams through Notre Dame's ESTEEM Lean Launchpad program and Business Plan Competition, presented Lean Startup methodology in classes, and established regional investor networks. Elevate launched the Northwest Indiana Tech Foundry, a technology-sector business accelerator in Valparaiso. The first cohort included 6 Indiana technology startups. EIRs provided direct advisory consulting to over 360 companies helping them develop their director and advisory boards, hire management teams, connect with service providers, and a variety of other mentoring activities. EIRs also refer companies into other programs, including Elevate's Direct Investment and Economic Gardening programs. Direct Advisory Services are operated through the Quickstart and Regional Entrepreneurial Action Plan (REAP) Programs. Funding for the REAP and Quickstart programs come from a combination of grants from the Indiana Economic Development Corporation and direct contributions from stakeholders in the regions in which these programs operate. Elevate's EIRs also present companies to regional advisory boards who review and approve High-Potential Startup Grants, a program that awards small grants of $5-25K to high-potential start-ups to enable attainment of measurable outcomes or milestones. In 2014, a total of $223,000 was awarded to a total of 12 companies. Elevate's Economic Gardening program is a 3-step consulting platform that guides and supports second-stage companies to help them achieve high growth at no cost to the company. It allows such companies to access expert leadership, market research, and implementation consulting services that they may not otherwise be able to obtain. Second-stage companies have between $750K-$25M in revenue and between 5-100 employees. Most of the companies served had under $5M in revenue and a median company size of 16 employees. Elevate contracts with 3 vendors to provide the Economic Gardening program to second-stage companies. The value of the consulting averages approximately $5K per company with a maximum cost of $8K. This program currently operates in Northwest, North Central, Northeast and Southwest Indiana. In 2014, 71 companies completed the program, and 62 companies were enrolled during the year. Consulting services include market research services from the Edward Lowe Foundation, leadership assessment services from LeaderMarks, and Implementation services from AutoSolve. Edward Lowe Foundation provides up to 36 hours of consulting services from a team of research specialists specializing in strategic market research, geographic information systems, search engine optimization and social media marketing. Consultants identify market trends, potential competitors and unknown resources, provide geographic data for targeted marketing, increase search engine visibility and web traffic, analyze the competitive marketing landscape, and advise on core strategies and business models. LeaderMarks provides Leadership Assessment of the company's CEO and management team. This is an optional additional service available to companies enrolled in Elevate's Economic Gardening program. On completion of the Edward Lowe Foundation's market research consulting, companies may opt-in to receive up to 20 hours of implementation consulting from AutoSolve. AutoSolve helps companies develop and implement plans to utilize the market research data from the Edward Lowe Foundation to increase revenue and grow their business. The AutoSolve consulting services were added to the program based on feedback from the first 3 years of the program. As a result of adding the expanded service, many companies who completed the program in 2011-2013 reactivated to take advantage of this new services. Those companies were counted in 2014 results. Direct investment: Elevate Ventures was founded in 2011 to assist the Indiana Economic Development Corporation (IEDC) manage a portfolio of direct capital investments in high-potential Indiana companies and to make capital more accessible to Indiana entrepreneurs. Through a subsidiary partnership with the IEDC, Elevate Manages 4 investment funds, the Indiana 21st Century Fund, Indiana Angel Network Fund, Indiana High-Growth Fund, and the Indiana Seed Fund Holdings. The separately reportable partnership holds the investment capital and portfolio income/expense and reports earnings via the IRS Form 1065 U.S. Return of Partnership Income. Elevate receives funding from the IEDC to manage these investment funds through a Professional Services Agreement and a Management Fee arrangement for the various funds. In 2014, Elevate completed 24 investment transactions with a total of nearly $8.3M invested, leveraging $13M in co-investment from private investors. Of those 24 transactions, 16 were new investments and 6 were follow-on funding for existing portfolio companies. Since inception, Elevate invested over $29M in 47 companies, 5 of which have exited successfully. These investments leveraged an additional $190M in private dollars, resulting in a 6.41 leverage ratio. Annual payroll of the portfolio is nearly $50M, employing 746 people with average salaries of nearly $66K. As part of Elevate's efforts to build relationships between capital sources and companies, Elevate sponsored the Forbes Innovation Summit, the 6th Annual Innovation Showcase, 15th Annual TechPoint Mira Awards, and the Fort Wayne Innovation Awards. Elevated hosted 2 Investor Roadshow events in Chicago and Indianapolis in order to facilitate one-on-one introductions of Indiana companies with potential investors. Between 17 and 19 venture firms and 18 to 24 Indiana companies attended each of the 2 events and 169 one-on-one meetings took place. Elevate, in partnership with IEDC, through the 21st Century Research & Technology Fund provides Phase I proposals with a support letter committing $0.50 towards every federal dollar awarded, up to $50K in state matching per federal award with a lifetime maximum of $150K in state matching per company, including affiliates. In 2014, 24 state matching awards to 21 Indiana companies were qualified, totaling $1.165M in state matching dollars against $4.367M in federal grants. | Desc |
| Total Program Service Expenses | $2,674,172 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (true) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (true) | ScheduleBRequiredInd |
| Political Campaign Acty | false | PoliticalCampaignActyInd |
| Lobbying Activities | false | LobbyingActivitiesInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Conservation Easements | false | ConservationEasementsInd |
| Collections Of Art | false | CollectionsOfArtInd |
| Credit Counseling | false | CreditCounselingInd |
| Temp Or Permanent Endowments | false | TempOrPermanentEndowmentsInd |
| Report Land Building Equipment | Yes (true) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | Yes (true) | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | false | ReportProgramRelatedInvstInd |
| Report Other Assets | false | ReportOtherAssetsInd |
| Report Other Liabilities | false | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (true) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (true) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | false | ConsolidatedAuditFinclStmtInd |
| School Operating | false | SchoolOperatingInd |
| Foreign Office | false | ForeignOfficeInd |
| Foreign Activities | false | ForeignActivitiesInd |
| More Than5000 K To Org | false | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividualsInd |
| Professional Fundraising | false | ProfessionalFundraisingInd |
| Fundraising Activities | false | FundraisingActivitiesInd |
| Gaming Activities | false | GamingActivitiesInd |
| Operate Hospital | false | OperateHospitalInd |
| Grants To Organizations | Yes (true) | GrantsToOrganizationsInd |
| Grants To Individuals | false | GrantsToIndividualsInd |
| Schedule J Required | Yes (true) | ScheduleJRequiredInd |
| Tax Exempt Bonds | false | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | false | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | false | PYExcessBenefitTransInd |
| Loan Outstanding | false | LoanOutstandingInd |
| Grant To Related Person | false | GrantToRelatedPersonInd |
| Business Rln With Org Mem | false | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | false | BusinessRlnWithFamMemInd |
| Business Rln With Officer Ent | false | BusinessRlnWithOfficerEntInd |
| Deductible Non Cash Contri | false | DeductibleNonCashContriInd |
| Deductible Art Contribution | false | DeductibleArtContributionInd |
| Terminate Operations | false | TerminateOperationsInd |
| Partial Liquidation | false | PartialLiquidationInd |
| Disregarded Entity | Yes (true) | DisregardedEntityInd |
| Related Entity | Yes (true) | RelatedEntityInd |
| Related Organization Ctrl Ent | Yes (true) | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | Yes (true) | TransactionWithControlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | false | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | false | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (true) | ScheduleORequiredInd |
| IRP Document | 17 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (true) | BackupWthldComplianceInd |
| Employee | 15 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (true) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | false | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | false | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | false | TaxablePartyNotificationInd |
| Nondeductible Contributions | false | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | false | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | false | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | false | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | false | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | false | IndoorTanningServicesInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 6 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 4 | IndependentVotingMemberCnt |
| Family Or Business Rln | false | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | false | DelegationOfMgmtDutiesInd |
| Change To Org Documents | Yes (true) | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | false | MembersOrStockholdersInd |
| Election Of Board Members | false | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | false | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (true) | MinutesOfGoverningBodyInd |
| Officer Mailing Address | false | OfficerMailingAddressInd |
| Local Chapters | false | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (true) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (true) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (true) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (true) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (true) | WhistleblowerPolicyInd |
| Document Retention Policy | false | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (true) | CompensationProcessCEOInd |
| Compensation Process Other | false | CompensationProcessOtherInd |
| Investment In Joint Venture | false | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | IN | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Barbara Uggen-Davis | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 3172520258 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 50 East 91st St Ste 213 | AddressLine1Txt |
| City | Indianapolis | CityNm |
| State Abbreviation | IN | StateAbbreviationCd |
| ZIP | 46240 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (14 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|
| John Schneider | ||||||||
| Board Chair | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||
| Robert Myer | ||||||||
| Secretary | 20.00 | Yes (X) | Yes (X) | $74,111 | $0 | $0 | ||
| Kip Tom | ||||||||
| Board Member | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| Mike Davidson | ||||||||
| Board Member | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| Phillip Lodato | ||||||||
| Board Member and General Counsel | 50.00 | Yes (X) | $140,097 | $0 | $5,094 | |||
| Steve Martin | ||||||||
| Board Member | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| Stephen Hourigan | ||||||||
| Chief Executive Officer | 50.00 | Yes (X) | $245,990 | $0 | $26,708 | |||
| Barbara Uggen-Davis | ||||||||
| Chief Financial Officer | 50.00 | Yes (X) | $103,256 | $0 | $15,195 | |||
| Ting Gootee | ||||||||
| Chief Investment Officer | 50.00 | $156,956 | $0 | $21,766 | Yes (X) | |||
| Robert Clark | ||||||||
| Entrepreneur-in-Residence | 40.00 | $140,134 | $0 | $15,125 | Yes (X) | |||
| Dan Owen | ||||||||
| Entrepreneur-in-Residence | 40.00 | $115,535 | $0 | $15,453 | Yes (X) | |||
| Kregg Kiel | ||||||||
| Entrepreneur-in-Residence | 40.00 | $113,343 | $0 | $7,103 | Yes (X) | |||
| Kelly Schwedland | ||||||||
| Entrepreneur-in-Residence | 40.00 | $108,386 | $0 | $19,951 | Yes (X) | |||
| Karen Goldner | ||||||||
| Program Director | 40.00 | $106,810 | $0 | $2,888 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $1,304,618 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $129,283 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 9 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | false | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (true) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | false | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (3 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| AUTOSOLVE | |||||
| 329 WOOD STREET | LAKE MARY | FL | 32746 | ADVISORY SERVICES - ECONOMIC GARDENING PROGRAM | $212,500 |
| EDWARD LOWE FOUNDATION | |||||
| 58220 DECATUR ROAD | CASSOPOLIS | MI | 49031 | ADVISORY SERVICES - ECONOMIC GARDENING PROGRAM | $211,601 |
| CROWE HORWATH LLP | |||||
| PO BOX 71570 | CHICAGO | IL | 60694 | AUDIT AND TAX SERVICES | $107,675 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 3 | CntrctRcvdGreaterThan100KCnt |
| Federated Campaigns | $0 | FederatedCampaignsAmt |
| Membership Dues | $0 | MembershipDuesAmt |
| Fundraising | $0 | FundraisingAmt |
| Related Organizations | $0 | RelatedOrganizationsAmt |
| Government Grants | $0 | GovernmentGrantsAmt |
| All Other Contributions | $240,250 | AllOtherContributionsAmt |
| Noncash Contributions | $0 | NoncashContributionsAmt |
| Total Contributions | $240,250 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| IEDC State Contracts | 900099 | $2,727,229 | $2,727,229 |
| Management Fees | 900099 | $152,500 | $152,500 |
Total Oth Program Service Rev TotalOthProgramServiceRevGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $2,879,729 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $5,279 | TotalRevenueColumnAmt |
| Exclusion | $5,279 | ExclusionAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $0 | RealAmt |
| Personal | $0 | PersonalAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $0 | SecuritiesAmt |
| Other | $0 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Exclusion | $0 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | Other Revenue | Desc |
| Business | 900099 | BusinessCd |
| Total Revenue Column | $2,133 | TotalRevenueColumnAmt |
| Exclusion | $2,133 | ExclusionAmt |
Miscellaneous Revenue MiscellaneousRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $2,133 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $3,127,391 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $2,879,729 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $7,412 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part IX | Yes (X) | InfoInScheduleOPartIXInd |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $218,000 | TotalAmt |
| Program Services | $218,000 | ProgramServicesAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $764,221 | TotalAmt |
| Program Services | $551,380 | ProgramServicesAmt |
| Management And General | $201,239 | ManagementAndGeneralAmt |
| Fundraising | $11,602 | FundraisingAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $959,748 | TotalAmt |
| Program Services | $959,748 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $44,603 | TotalAmt |
| Management And General | $44,603 | ManagementAndGeneralAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $143,131 | TotalAmt |
| Management And General | $143,131 | ManagementAndGeneralAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $94,436 | TotalAmt |
| Management And General | $94,436 | ManagementAndGeneralAmt |
Fees For Services Management FeesForServicesManagementGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
| Fundraising | $0 | FundraisingAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $15,965 | TotalAmt |
| Program Services | $1,000 | ProgramServicesAmt |
| Management And General | $14,965 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $114,456 | TotalAmt |
| Program Services | $52,714 | ProgramServicesAmt |
| Management And General | $61,742 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Fees For Services Lobbying FeesForServicesLobbyingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
| Program Services | $0 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Fees For Services Prof Fundraising FeesForServicesProfFundraising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
| Fundraising | $0 | FundraisingAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
| Program Services | $0 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $708,153 | TotalAmt |
| Program Services | $583,936 | ProgramServicesAmt |
| Management And General | $124,217 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $32,205 | TotalAmt |
| Program Services | $19,323 | ProgramServicesAmt |
| Management And General | $12,882 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $21,880 | TotalAmt |
| Program Services | $18,001 | ProgramServicesAmt |
| Management And General | $3,719 | ManagementAndGeneralAmt |
| Fundraising | $160 | FundraisingAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $57,928 | TotalAmt |
| Program Services | $22,013 | ProgramServicesAmt |
| Management And General | $35,915 | ManagementAndGeneralAmt |
Royalties RoyaltiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
| Program Services | $0 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $60,260 | TotalAmt |
| Program Services | $29,323 | ProgramServicesAmt |
| Management And General | $30,750 | ManagementAndGeneralAmt |
| Fundraising | $187 | FundraisingAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $84,010 | TotalAmt |
| Program Services | $74,864 | ProgramServicesAmt |
| Management And General | $8,398 | ManagementAndGeneralAmt |
| Fundraising | $748 | FundraisingAmt |
Pymt Travel Entrtnmnt Pub Ofcl PymtTravelEntrtnmntPubOfclGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
| Program Services | $0 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
| Program Services | $0 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $260 | TotalAmt |
| Program Services | $214 | ProgramServicesAmt |
| Management And General | $44 | ManagementAndGeneralAmt |
| Fundraising | $2 | FundraisingAmt |
Payments To Affiliates PaymentsToAffiliatesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
| Program Services | $0 | ProgramServicesAmt |
| Fundraising | $0 | FundraisingAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,963 | TotalAmt |
| Program Services | $5,728 | ProgramServicesAmt |
| Management And General | $1,184 | ManagementAndGeneralAmt |
| Fundraising | $51 | FundraisingAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $60,441 | TotalAmt |
| Program Services | $47,144 | ProgramServicesAmt |
| Management And General | $12,693 | ManagementAndGeneralAmt |
| Fundraising | $604 | FundraisingAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt | FundraisingFundraisingAmt |
|---|---|---|---|---|
| EVENTS AND GIFTS | $82,006 | $67,466 | $13,941 | $599 |
| BAD DEBT | $13,000 | $11,227 | $1,700 | $73 |
| LICENSES AND MEMBERSHIP FEES | $9,471 | $7,792 | $1,610 | $69 |
| PAYROLL PROCESSING | $3,478 | $2,861 | $591 | $26 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,635 | TotalAmt |
| Program Services | $1,438 | ProgramServicesAmt |
| Management And General | $5,184 | ManagementAndGeneralAmt |
| Fundraising | $13 | FundraisingAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,501,250 | TotalAmt |
| Program Services | $2,674,172 | ProgramServicesAmt |
| Management And General | $812,944 | ManagementAndGeneralAmt |
| Fundraising | $14,134 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $64,245 | BOYAmt |
| EOY | $373,952 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,762,160 | BOYAmt |
| EOY | $1,942,555 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,009,667 | BOYAmt |
| EOY | $352,167 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $611,178 | BOYAmt |
| EOY | $411,064 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
Rcvbl From Disqualified Prsn RcvblFromDisqualifiedPrsnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $25,953 | BOYAmt |
| EOY | $36,488 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $28,823 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $10,030 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $24,827 | BOYAmt |
| EOY | $18,793 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $528,379 | BOYAmt |
| EOY | $262,831 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,026,409 | BOYAmt |
| EOY | $3,397,850 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $335,914 | BOYAmt |
| EOY | $346,762 | EOYAmt |
Grants Payable GrantsPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Tax Exempt Bond Liabilities TaxExemptBondLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Loans From Officers Directors LoansFromOfficersDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $335,914 | BOYAmt |
| EOY | $346,762 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows SFAS117 | Yes (X) | OrganizationFollowsSFAS117Ind |
Unrestricted Net Assets UnrestrictedNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,715,470 | BOYAmt |
| EOY | $1,857,574 | EOYAmt |
Temporarily Rstr Net Assets TemporarilyRstrNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,975,025 | BOYAmt |
| EOY | $1,193,514 | EOYAmt |
Permanently Rstr Net Assets PermanentlyRstrNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,690,495 | BOYAmt |
| EOY | $3,051,088 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,026,409 | BOYAmt |
| EOY | $3,397,850 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | -$373,859 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | -$265,548 | NetUnrlzdGainsLossesInvstAmt |
| Donated Services And Use Fclts | $0 | DonatedServicesAndUseFcltsAmt |
| Investment Expense | $0 | InvestmentExpenseAmt |
| Prior Period Adjustments | $0 | PriorPeriodAdjustmentsAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | false | AccountantCompileOrReviewInd |
| FS Audited | Yes (true) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (true) | AuditCommitteeInd |
| Federal Grant Audit Required | false | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Organization170 | Yes (X) | PublicOrganization170Ind |
Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus3 Years | $225,000 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $1,714,937 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $548,563 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $237,250 | CurrentTaxYearAmt |
| Total | $2,725,750 | TotalAmt |
Total Calendar Year170 TotalCalendarYear170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $0 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $225,000 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $1,714,937 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $548,563 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $237,250 | CurrentTaxYearAmt |
| Total | $2,725,750 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Substantial Contributors Tot | $0 | SubstantialContributorsTotAmt |
| Public Support Total170 | $2,725,750 | PublicSupportTotal170Amt |
Gross Investment Income170 GrossInvestmentIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus3 Years | $418 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $744 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $921 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $5,279 | CurrentTaxYearAmt |
| Total | $7,362 | TotalAmt |
Other Income170 OtherIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $0 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $0 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $0 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $3,286 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $53,370 | CurrentTaxYearAmt |
| Total | $56,656 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Support | $2,789,768 | TotalSupportAmt |
| Gross Receipts Rltd Activities | $10,153,213 | GrossReceiptsRltdActivitiesAmt |
| First5 Years170 | Yes (X) | First5Years170Ind |
Form990 Schedule A Part VI Form990ScheduleAPartVIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Schedule A, Part II, Line 10 Other Income | FormAndLineReferenceDesc |
| Explanation | DESCRIPTION - REIMBURSED EXPENSES, COLUMN A - , COLUMN B - , COLUMN C - , COLUMN D - 1800.0, COLUMN E - 51237.0, COLUMN F - 53037.0; DESCRIPTION - OTHER INCOME, COLUMN A - , COLUMN B - , COLUMN C - , COLUMN D - 1486.0, COLUMN E - 2133.0, COLUMN F - 3619.0; | ExplanationTxt |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule D IRS990ScheduleD
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $28,823 | OtherCostOrOtherBasisAmt |
| Depreciation | $10,030 | DepreciationAmt |
| Book Value | $18,793 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $18,793 | TotalBookValueLandBuildingsAmt |
Other Securities OtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | INVESTMENT IN INDIANA 21ST CENTURY FUND, LP | Desc |
| Book Value | $262,831 | BookValueAmt |
| Method Valuation | C | MethodValuationCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Securities | $262,831 | TotalBookValueSecuritiesAmt |
| Total Liability | $0 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $2,853,957 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | -$265,548 | NetUnrealizedGainsInvstAmt |
| Other Revenue | $0 | OtherRevenueAmt |
| Revenue Not Reported | -$265,548 | RevenueNotReportedAmt |
| Revenue Subtotal | $3,119,505 | RevenueSubtotalAmt |
| Other Revenues Not Included | $7,886 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | $7,886 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $3,127,391 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $3,493,364 | TotExpnsEtcAuditedFinclStmtAmt |
| Other Expenses Included | $0 | OtherExpensesIncludedAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $3,493,364 | ExpensesSubtotalAmt |
| Other Expenses Not Included | $7,886 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $7,886 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $3,501,250 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (3 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote | The Internal Revenue Service has determined that Elevate is a tax-exempt organization as defined in Section 501(c)(3) of the Internal Revenue Code and is exempt from federal income taxes on related income. Elevate is not considered to be a private foundation. Current accounting standards require Elevate to disclose the amount of potential benefit or obligation to be realized as a result of an examination performed by a taxing authority. For the years ended December 31, 2014 and 2013, management has determined that Elevate does not have any tax positions that result in any uncertainties regarding the possible impact on Elevate's financial statements. Elevate does not expect the total amount of unrecognized tax benefits to significantly change in the next 12 months. Elevate recognizes interest and/or penalties related to income tax matters in income tax expense. Elevate did not have any amounts accrued for interest and penalties at December 31, 2014 and 2013. |
| Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statements | UNCOLLECTIBLE PLEDGE - 3000 CAPITAL ASSET WRITE-OFF - 4886 |
| Schedule D, Part XII, Line 4(b) Other expenses in form 990 not in audited financial statements | UNCOLLECTIBLE PLEDGE - 3000 CAPITAL ASSET WRITE OFF - 4886 |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (true) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (12 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Recipient EINRecipientEIN | IRC SectionIRCSectionDesc | Cash GrantCashGrantAmt | Non Cash AssistanceNonCashAssistanceAmt | Valuation Method UsedValuationMethodUsedDesc | Non Cash AssistanceNonCashAssistanceDesc | Purpose Of GrantPurposeOfGrantTxt |
|---|---|---|---|---|---|---|---|---|---|---|
| AdjunctProfessorLink | ||||||||||
| 4403 Stafordshire Lane | Valparaiso | IN | 46383 | 474315734 | Corporation | $15,000 | $0 | N/A | N/A | Startup capital assistance |
| Ananse Health | ||||||||||
| POBox 1878 | Valparaiso | IN | 46384 | 999999999 | Corporation | $15,000 | $0 | N/A | N/A | Startup capital assistance |
| AssureTech | ||||||||||
| 3831 Burning Bush Dr | Indianapolis | IN | 46235 | 999999999 | Corporation | $15,000 | $0 | N/A | N/A | Startup capital assistance |
| DiTara LLC | ||||||||||
| P O Box 50217 | Fort Wayne | IN | 46805 | 463185402 | Corporation | $25,000 | $0 | N/A | N/A | Startup capital assistance |
| Gift Utopia | ||||||||||
| 907 S Wayne Street | Angola | IN | 46703 | 999999999 | Corporation | $25,000 | $0 | N/A | N/A | Startup capital assistance |
| Go Yodel LLC | ||||||||||
| 13 Lincolnway | Valparaiso | IN | 46383 | 999999999 | Corporation | $5,000 | $0 | N/A | N/A | Startup capital assistance |
| NanDio | ||||||||||
| 1400 E Angela Blvd | South Bend | IN | 46556 | 999999999 | Corporation | $25,000 | $0 | N/A | N/A | Startup capital assistance |
| One Place Now | ||||||||||
| 13281 Monix Drive | Saint John | IN | 46373 | 474011372 | Corporation | $15,000 | $0 | N/A | N/A | Startup capital assistance |
| RockZip LLC | ||||||||||
| 210 Maple St | Michigan City | IN | 46360 | 999999999 | Corporation | $5,000 | $0 | N/A | N/A | Startup capital assistance |
| Rusher Medical | ||||||||||
| 1111 Pemberton Drive | Fort Wayne | IN | 46805 | 999999999 | Corporation | $25,000 | $0 | N/A | N/A | Startup capital assistance |
| SupplierIQ | ||||||||||
| 1400 East Angela Blvd | South Bend | IN | 46617 | 461915511 | Corporation | $25,000 | $0 | N/A | N/A | Startup capital assistance |
| Trek10 | ||||||||||
| 506 W South Street | South Bend | IN | 46601 | 464379653 | Corporation | $23,000 | $0 | N/A | N/A | Startup capital assistance |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 0 | Total501c3OrgCnt |
| Total Other Org | 12 | TotalOtherOrgCnt |
Supplemental Information Detail SupplementalInformationDetail (4 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Schedule I, Part I, Line 2 Description Of Procedure For Monitoring Use Of Grant Funds | Companies receiving funds are required to provide quarterly financial reports to Elevate Ventures which are reviewed by Elevate's investment team. |
| Schedule I, Part I, Line 1 | Grantees listed on Schedule I reflect High Potential Startup Grants made to Indiana startup companies in alignment with Elevate Venture's exempt mission. The organization utilizes volunteer regional advisory groups to review the applications and make recommendations for funding which are then reviewed and approved by the Elevate Investment Committee in accordance with the Elevate Investment Charter. All grant agreements outline that any unused funds should be returned to Elevate Ventures. The organization maintains records of each grantee and the selection criteria used to award such assistance. Grantees are required to provide quarterly financial statements to Elevate. |
| Schedule I, Part II, Line 1(b) Federal Identification Numbers (EIN) | Some companies receiving high potential start-up grants are in early stages of development and many have not yet applied for a federal identification number. In order to electronically file the Form 990, "99-9999999" for these companies have been listed on Schedule I, Part II, Line 1(b) |
| Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. | Companies receiving funds are required to provide quarterly financial reports to Elevate Ventures which are reviewed by Elevate's investment team. |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | false | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | false | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | false | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | false | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | false | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | false | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | false | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | false | AnyNonFixedPaymentsInd |
| Initial Contract Exception | false | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (3 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stephen Hourigan | ||||||||||||||
| Chief Executive Officer | $245,990 | $0 | $0 | $0 | $0 | $0 | $10,000 | $0 | $16,708 | $0 | $272,698 | $0 | $0 | $0 |
| Ting Gootee | ||||||||||||||
| Chief Investment Officer | $120,706 | $0 | $36,250 | $0 | $0 | $0 | $6,450 | $0 | $15,316 | $0 | $178,722 | $0 | $0 | $0 |
| Robert Clark | ||||||||||||||
| Entrepreneur-in-Residence | $108,234 | $0 | $31,900 | $0 | $0 | $0 | $4,400 | $0 | $10,725 | $0 | $155,259 | $0 | $0 | $0 |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (8 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Form 990, Part III, Line 4 ELEVATE VENTURES ACCOMPLISHMENTS DURING 2014 | In 2014, Elevate achieved its most successful year. Major accomplishments include: Completed 24 seed and early-stage investment transactions with a total of $8.28M invested and nearly $13M co-invested from other sources. Launched the Indiana Seed Fund fund-of-funds co-investment program, with participation from 7 Indiana fund managers and organized angel groups. Additional groups are expected to qualify in 2015. Relaunched the state's SBIR/STTR Phase I matching funds program. The program qualified 24 state matching grants for 21 Indiana companies, with an additional $4.37M in federal grant awards directed to these Indiana companies by federal agencies. The matching program operates in conjunction with SBIR assistance provided in partnership with State of Indiana's Offices of Small Business and Entrepreneurship. Hosted 2 investor roadshows aiming to connect the best Indiana companies with regional and national venture capital firms in Indianapolis and Chicago. Elevate connected more than 75 Indiana companies and institutional investors combined and over 150 quality meetings took place. More than $10M in term sheets and investment interest have already followed. Formal partnerships were formed with Velocity, an accelerator program based in Jeffersonville, IN and with the Purdue Foundry for delivery of Entrepreneur-in-Residence services and the launch of the $2M Elevate Purdue Foundry Fund targeting Purdue Foundry affiliated seed-stage companies. Elevate Ventures' direct investment portfolio includes 47 companies, with nearly $30M invested and over $190M co-invested since 2011. |
| Form 990, Part VI, Line 15b PROCESS TO ESTABLISH COMPENSATION OF OTHER OFFICERS | THE CEO HAS THE AUTHORITY TO HIRE AND SET INITIAL COMPENSATION OF OTHER OFFICERS AND KEY EMPLOYEES. SUBSEQUENT RAISES WERE DETERMINED BY THE COMPENSATION COMMITTEE AND APPROVED BY THE BOARD. THIS PROCESS WAS LAST UNDERTAKEN IN JANUARY 2015. |
| Form 990, Part VI, Line 4 Significant changes to organizational documents | The organization amended its bylaws to change the following: Section 1.2 was replaced in its entirety as follows: 1) The minimum number of directors was reduced from 4 to 3. |
| Form 990, Part VI, Line 11b Review of form 990 by governing body | The form 990 was reviewed in detail by the CFO and CEO. A final draft of the form 990 was distributed via email to every member of the governing body prior to filing with the IRS. Board members were given 10 days to provide feedback and ask questions prior to filing. |
| Form 990, Part VI, Line 12c Conflict of interest policy | Every board member, officer and employee is required to sign annually a Conflict of Interest Statement disclosing actual or potential conflicts of interest with the organization. The Compliance Officer has been appointed by the Board to review the disclosure statements and ensure compliance with the Conflict of Interest Policy. Additionally, each board member, officer, and employee is required to disclose actual and potential conflicts of interest in advance of the completion of the organization's investment transactions through Elevate and its subsidiary entities. In the event that there are conflicts of interest that arise that are not related to the organization's investment activities, the board members and staff must disclose the conflict or potential conflict to the compliance officer and abstain from any decision-making as it pertains to the conflict. |
| Form 990, Part VI, Line 15a Process to establish compensation of top management official | A compensation committee was appointed to establish compensation for the top management official. The committee used comparability data in their determination to ensure compensation is reasonable. Discussion and analysis of the process was documented in the compensation committee minutes. The compensation committee presented to the Board of Directors their recommendation for compensation and the Board voted on the compensation based on the committee's recommendation. This process was last undertaken in February 2013. No change in compensation was made in 2014. |
| Form 990, Part VI, Line 19 Required documents available to the public | Financial statements, governing documents, and conflict of interest policies are not required disclosures pursuant to internal revenue code (IRC) Section 6104. These documents are not available to the public at this time. |
| Form 990, Part IX, Line 11g Other Fees | Consulting Fees - Total Expense: 708153, Program Service Expense: 583936, Management and General Expenses: 124217, Fundraising Expenses: ; |
Schedule R IRS990ScheduleR
Id Disregarded Entities IdDisregardedEntitiesGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ELEVATE ADVISORS LLC | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 50 EAST 91ST ST STE 213 | AddressLine1Txt |
| City | INDIANAPOLIS | CityNm |
| State Abbreviation | IN | StateAbbreviationCd |
| ZIP | 46204 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 900906210 | EIN |
| Primary Activities | GENERAL PARTNER | PrimaryActivitiesTxt |
| Legal Domicile State | DE | LegalDomicileStateCd |
| Total Income | -$15,104 | TotalIncomeAmt |
| End Of Year Assets | $47,792 | EndOfYearAssetsAmt |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ELEVATE VENTURES INC | BusinessNameLine1Txt |
Id Related Org Txbl Partnership IdRelatedOrgTxblPartnershipGrp
Related Organization Name RelatedOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | INDIANA 21ST CENTURY FUND LP | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 50 EAST 91ST ST STE 213 | AddressLine1Txt |
| City | INDIANAPOLIS | CityNm |
| State Abbreviation | IN | StateAbbreviationCd |
| ZIP | 46204 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 453126479 | EIN |
| Primary Activities | INVESTMENT FUND | PrimaryActivitiesTxt |
| Legal Domicile State | DE | LegalDomicileStateCd |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ELEVATE VENTURES INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Predominant Income Type | Excluded | PredominantIncomeTypeTxt |
| Share Of Total Income | -$83,072 | ShareOfTotalIncomeAmt |
| Share Of EOY Assets | $262,854 | ShareOfEOYAssetsAmt |
| Disproportionate Allocations | false | DisproportionateAllocationsInd |
| UBI Code V | $0 | UBICodeVAmt |
| General Or Managing Partner | false | GeneralOrManagingPartnerInd |
| Ownership | 0.55 | OwnershipPct |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | false | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | false | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | false | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | false | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | false | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | false | DivRelatedOrganizationInd |
| Asset Sale To Other Org | false | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | false | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | false | AssetExchangeInd |
| Rental Of Facilities To Oth Org | false | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | false | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | false | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | false | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | Yes (true) | SharingOfFacilitiesInd |
| Paid Employees Sharing | Yes (true) | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | Yes (true) | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | Yes (true) | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | false | TransferToOtherOrgInd |
| Transfer From Other Org | Yes (true) | TransferFromOtherOrgInd |