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← VERTUELAB

Form 990 for tax year 2023

Filed by VERTUELAB.

Totals

Total revenue
$1,737,181
Total expenses
$2,695,497
Contributions and grants received
$1,686,553
Grants paid
$410,588
Program service revenue
$30,552
Investment income
$20,076
Other revenue
$0
Total assets, end of year
$5,987,072
Total liabilities, end of year
$3,540,384
Net assets or fund balances, end of year
$2,446,688
Program services expenses (Part IX)
$2,104,295
Management and general expenses
$325,422
Fundraising expenses
$265,780
Program service expenses (Part III)
$2,104,295

Program services were 78.1% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $1,027,941

  • 1f · All other contributions, gifts and grants

    $658,612

  • 2a · Program service revenue: VERTUELAB IMPACT SUMMIT

    total $30,552 · related or exempt $30,552

  • 3 · Investment income

    total $20,076 · excluded $20,076

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6d · Net rental income or loss

    total $0

  • 7d · Net gain or loss

    total $0

  • 8c · Net income from fundraising events

    total $0

  • 9c · Net income from gaming

    total $0

  • 10c · Net income from sales of inventory

    total $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $391,588 · program services $391,588

  • 2 · Grants to domestic individuals

    total $19,000 · program services $19,000

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $196,730 · program services $138,466 · management and general $36,672 · fundraising $21,592

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $1,129,121 · program services $807,685 · management and general $195,734 · fundraising $125,702

  • 8 · Pension plan contributions

    total $28,006 · program services $19,712 · management and general $5,220 · fundraising $3,074

  • 9 · Other employee benefits

    total $47,762 · program services $33,617 · management and general $8,903 · fundraising $5,242

  • 10 · Payroll taxes

    total $109,098 · program services $76,787 · management and general $20,336 · fundraising $11,975

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $5,571 · program services $5,571

  • 11c · Fees: accounting

    total $0

  • 11d · Fees: lobbying

    total $55,000 · fundraising $55,000

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $268,137 · program services $217,704 · management and general $19,366 · fundraising $31,067

  • 12 · Advertising and promotion

    total $21,209 · program services $18,338 · management and general $1,746 · fundraising $1,125

  • 13 · Office expenses

    total $0

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $48,976 · program services $42,371 · management and general $3,856 · fundraising $2,749

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $46,830 · program services $45,309 · management and general $1,521

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $0

  • 23 · Insurance

    total $0

  • 24a · Other expenses: IMPAIRMENT OF VALUE

    total $200,000 · program services $200,000

  • 24b · Other expenses: OPERATING EXPENSES

    total $55,356 · program services $44,337 · management and general $9,440 · fundraising $1,579

  • 24c · Other expenses: OVERHEAD ALLOCATION

    total $50,613 · program services $43,810 · management and general $128 · fundraising $6,675

  • 24d · Other expenses: PASSTHROUGH GRANTS

    total $22,500 · management and general $22,500

  • 24e · All other expenses

    total $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,079,644 · end of year $363,426

  • 2 · Savings and temporary cash investments

    end of year $2,396,901

  • 3 · Pledges and grants receivable

    beginning of year $343,824 · end of year $243,396

  • 4 · Accounts receivable

    end of year $0

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $6 · end of year $14

  • 8 · Inventories for sale or use

    end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $8,606 · end of year $0

  • 10c · Land, buildings and equipment, net

    end of year $0

  • 11 · Investments: publicly traded securities

    end of year $0

  • 12 · Investments: other securities

    end of year $0

  • 13 · Investments: program-related

    beginning of year $2,713,254 · end of year $2,983,335

  • 14 · Intangible assets

    end of year $0

  • 15 · Other assets

    end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $312,663 · end of year $197,166

  • 19 · Deferred revenue

    beginning of year $11,500 · end of year $148,218

  • 24 · Unsecured notes and loans payable

    beginning of year $3,546,943 · end of year $3,195,000

  • 27 · Net assets without donor restrictions

    beginning of year $1,681,478 · end of year $987,280

  • 28 · Net assets with donor restrictions

    beginning of year $1,592,750 · end of year $1,459,408

Mission and programs · 2023

Mission

TO UNLEASH INNOVATION AND ENTREPRENEURSHIP THAT WILL SOLVE ENVIRONMENTAL CHALLENGES AND CATALYZE SHARED ECONOMIC PROSPERITY. PROVIDE FUNDING AND HOLISTIC ENTREPRENEURIAL SUPPORT TO CLEANTECH STARTUPS.

  • VERTUELAB WORKS DIRECTLY WITH EARLY-STAGE STARTUPS AND INNOVATIONS FOCUSED ON SOLVING ENVIRONMENTAL CHALLENGES BY PROVIDING COACHING, MENTORSHIP, AND RESOURCES THAT IMPROVE STARTUP SUCCESS, ESPECIALLY IN THE CLIMATE TECH SPACE. ON A LIMITED BASIS THE ORGANIZATION ALSO HELPS COMPANIES FROM OTHER TECHNOLOGY SECTORS. DURING THE FISCAL YEAR, THE ORGANIZATION CONNECTS STARTUP COMPANIES AND POTENTIAL PRIVATE INVESTORS, PROVIDED GUIDANCE ON FEDERAL SBIR/STTR FUNDING APPLICATIONS, AND DELIVERED ON BUSINESS ACCELERATOR PROGRAMS. VERTUELAB PROGRAMS INCLUDE: 45CAMP, A CLIMATE TECHNOLOGY STARTUP PROGRAM DESIGNED TO UNDERINVESTED ENTREPRENEURS. THE PROGRAM CONSISTS OF A THREE-DAY WORKSHOP, A TEN-WEEK PRE-ACCELERATOR, AND A TEN-WEEK ACCELERATOR.FEDERAL FUNDING ASSISTANCE, A PROGRAM THAT HELPS EARLY-STAGE COMPANIES PURSUE FEDERAL FUNDING OPPORTUNITIES, INCLUDING SBIR AND STTR GRANTS.CASCADIA CLEANTECH ACCELERATOR, AN 18-WEEK BUSINESS ACCELERATOR THAT PROVIDES MENTORSHIP, CURRICULUM, INVESTOR CONNECTIONS, AND FUNDING SUPPORT TO EARLY-STAGE CLEANTECH STARTUPS.

    Expenses $1,372,230 · Grants $391,588

  • JUST FUTURE CLIMATE LABS -JUST FUTURE CLIMATE LABS (JFC LABS) SERVES AS AN EXPERIMENTAL INITIATIVE FOCUSED ON DESIGNING AND PILOTING PROGRAMS THAT ADVANCES A RADICALLY INCLUSIVE CLIMATE TECH FUTURE. JFC LABS IS ROOTED IN PLACE-BASED INNOVATION AND EQUITY-CENTERED PRACTICE, AND SERVES AS A HUB FOR RESEARCH, FIELD-BUILDING, AND STRATEGIC EXPERIMENTATION AROUND INCLUSIVE CLIMATE SOLUTIONS. THROUGH THIS WORK, THE ORGANIZATION EXPLORES AND REPORTS ON THE EVOLVING NEEDS OF THE CLIMATE TECH SECTOR, IDENTIFYING OPPORTUNITIES FOR THE REGION TO APPROACH INNOVATION AND SUPPORT DIFFERENTLY.

    Expenses $369,228 · Revenue $30,522

  • IMPACT FUNDS -IMPACT FUND IS FOCUSED ADDRESSING THE NEED FOR IMPROVED ACCESS TO CAPITAL FOR EARLY STAGE CLEANTECH VENTURES AND INCREASING THE BASE OF RISK CAPITAL AVAILABLE IN THE REGION. THE ORGANIZATION ALSO RAISED CAPITAL FOR AND INITIATED INVESTMENT ACTIVITIES FROM CLIMATE IMPACT FUND THAT PROVIDES RISK-TOLERANT CAPITAL TO STARTUPS FROM THE UNITED STATES AND CANADA WORKING TO ADDRESS THE GLOBAL CLIMATE CRISIS.

    Expenses $316,817 · Revenue $133,335

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Ken Vaughn

    DIR IMPACT INVEST

    Total calculated
    $150,338
    From this org
    $150,338
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $150,338
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $150,338

  • Aina Abiodun

    Executive Dir.

    Total calculated
    $147,018
    From this org
    $143,333
    From related orgs
    $0
    Other
    $3,685
    Hours/week
    40

  • Juan Barraza

    DIR INNOV & ENTR

    Total calculated
    $143,664
    From this org
    $134,330
    From related orgs
    $0
    Other
    $9,334
    Hours/week
    40

  • Felicia Kang

    DIR FINANCE & OPER

    Total calculated
    $118,523
    From this org
    $107,890
    From related orgs
    $0
    Other
    $10,633
    Hours/week
    40

  • David Kenney

    PAST EXEC DIR

    Total calculated
    $76,730
    From this org
    $74,392
    From related orgs
    $0
    Other
    $2,338
    Hours/week
    40

  • Heather Andersen

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Joseph Connors

    Secretary/Treas

    Total calculated
    $0
    Hours/week
    2

  • Kelly Lyons

    Director

    Total calculated
    $0
    Hours/week
    2

  • Carol Dahl

    Director

    Total calculated
    $0
    Hours/week
    2

  • Jeff Canin

    Director

    Total calculated
    $0
    Hours/week
    2

  • Miguel Sossa

    Director

    Total calculated
    $0
    Hours/week
    2

  • Allison Arnold

    Director

    Total calculated
    $0
    Hours/week
    2

  • Rachel Jagoda-Brunette

    Director

    Total calculated
    $0
    Hours/week
    2

  • Lem White

    Director

    Total calculated
    $0
    Hours/week
    2

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Form 990 of other organizations
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

Provenance

Return type
form_990
Tax year
2023
Filed
12 May 2025
IRS schema version
2023v6.0
Source object
202541339349304954

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