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Nonprofiteer
← EXPONENTIAL IMPACT

Form 990 for tax year 2025

Filed by EXPONENTIAL IMPACT.

Totals

Total revenue
$832,992
Total expenses
$842,665
Contributions and grants received
$714,830
Grants paid
$63,909
Program service revenue
$18,876
Investment income
$99,286
Other revenue
$0
Total assets, end of year
$5,149,303
Total liabilities, end of year
$553,615
Net assets or fund balances, end of year
$4,595,688
Program services expenses (Part IX)
$683,441
Management and general expenses
$134,015
Fundraising expenses
$25,209
Program service expenses (Part III)
$683,441

Program services were 81.1% 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)

    $335,624

  • 1f · All other contributions, gifts and grants

    $379,206

  • 1g · Noncash contributions included above

    $2,948

  • 2a · Program service revenue: Program Income

    total $18,876 · related or exempt $18,876

  • 3 · Investment income

    total $99,286 · excluded $99,286

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $63,909 · program services $63,909

  • 5 · Compensation of officers, directors and key employees

    total $110,126 · program services $93,377 · management and general $11,013 · fundraising $5,736

  • 7 · Other salaries and wages

    total $297,769 · program services $252,482 · management and general $29,777 · fundraising $15,510

  • 8 · Pension plan contributions

    total $6,321 · program services $5,360 · management and general $632 · fundraising $329

  • 9 · Other employee benefits

    total $28,801 · program services $24,421 · management and general $2,880 · fundraising $1,500

  • 10 · Payroll taxes

    total $36,533 · program services $30,977 · management and general $3,653 · fundraising $1,903

  • 11b · Fees: legal

    total $10,336 · program services $8,616 · management and general $1,720

  • 11c · Fees: accounting

    total $27,705 · management and general $27,705

  • 11g · Fees: other

    total $32,713 · program services $32,482 · fundraising $231

  • 12 · Advertising and promotion

    total $4,542 · program services $4,000 · management and general $542

  • 13 · Office expenses

    total $44,117 · program services $33,493 · management and general $10,624

  • 14 · Information technology

    total $9,558 · program services $6,582 · management and general $2,976

  • 16 · Occupancy

    total $67,276 · program services $45,300 · management and general $21,976

  • 17 · Travel

    total $8,357 · program services $6,646 · management and general $1,711

  • 19 · Conferences, conventions and meetings

    total $12,030 · program services $10,413 · management and general $1,617

  • 20 · Interest

    total $3,827 · management and general $3,827

  • 22 · Depreciation, depletion and amortization

    total $65,383 · program services $65,383

  • 23 · Insurance

    total $13,362 · management and general $13,362

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $678,146 · end of year $889,728

  • 2 · Savings and temporary cash investments

    beginning of year $2,089,656 · end of year $1,676,015

  • 3 · Pledges and grants receivable

    beginning of year $65,579 · end of year $105,000

  • 7 · Other notes and loans receivable

    beginning of year $1,141,295 · end of year $1,403,469

  • 10a · Land, buildings and equipment: cost or other basis

    $460,949

  • 10b · Land, buildings and equipment: accumulated depreciation

    $214,849

  • 10c · Land, buildings and equipment, net

    beginning of year $308,536 · end of year $246,100

  • 15 · Other assets

    beginning of year $1,012,361 · end of year $828,991

  • 17 · Accounts payable and accrued expenses

    beginning of year $10,449 · end of year $27,432

  • 24 · Unsecured notes and loans payable

    beginning of year $100,000 · end of year $70,800

  • 25 · Other liabilities

    beginning of year $572,822 · end of year $455,383

  • 27 · Net assets without donor restrictions

    beginning of year $1,285,062 · end of year $1,259,218

  • 28 · Net assets with donor restrictions

    beginning of year $3,327,240 · end of year $3,336,470

Mission and programs · 2025

Mission

To develop the best entrepreneurs humanly possible. XI advances its mission through a dual focus on emerging technology and community impact. Each track serves a distinct group of businesses and entrepreneurs in the pikes peak region with programs that address each group's unique challenges and opportunities for growth.

Activities or mission (Part I)

To develop the best entrepreneurs humanly possible.

  • Accelerator - offers multiple rigorous holistic 12-week programs to support founders at every stage for emerging technology startups, from start to scale. During 2025, XI successfully ran a spring and fall accelerator program and served 17 startups. Each program lasts 12 weeks, where the startups received one-in-one mentorship and access to resources and tools to support their growth.

    Expenses $361,385 · Revenue $18,876

  • Survive & Thrive - provides funding, mentorship, and programming for Colorado Springs-based entrepreneurs. During 2025, XI successfully ran 2 Survive & Thrive cohorts and served 28 small businesses. During the 8-week program, XI provides small business access to low interest loans, mentorship, and curated curriculum.

    Expenses $322,056 · Grants $63,909

As filed on the 2025 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Jay Jesse

    President

    Total calculated
    $0
    Hours/week
    1

  • Maureen Lawrence

    Vice President (part year)

    Total calculated
    $0
    Hours/week
    1

  • Sarah Jane Maxted

    Secretary

    Total calculated
    $0
    Hours/week
    1

  • Leif Ullman

    Treasurer

    Total calculated
    $0
    Hours/week
    1

  • Angela Mader Hartshorn

    Member

    Total calculated
    $0
    Hours/week
    1

  • Yemi Mobolade

    Member

    Total calculated
    $0
    Hours/week
    1

  • Vance Brown

    Member

    Total calculated
    $0
    Hours/week
    1

  • Chris Jenkins

    Member

    Total calculated
    $0
    Hours/week
    1

  • Max Cupp

    Executive Director

    Total calculated
    $110,126
    From this org
    $100,000
    From related orgs
    $0
    Other
    $10,126
    Hours/week
    40

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.

Grants on this return

  • Merriman Land Works dba Flat and Fancy

    $33,909

    Low interest loan forgiven

  • Veterans Home First

    $30,000

    Low interest loan forgiven

Provenance

Return type
form_990
Tax year
2025
Filed
7 April 2026
IRS schema version
2025v4.1
Source object
202640979349301014

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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