Vertuelab
- Assets
- $6.9m
- Revenue
- $2.8m
- Investments
- $0.0
- Employees
- 13
- Location
- Portland, OR
- Founding
- 10/2008
- Data as of
- 06/2022
- EIN
- 26-1652936
Organization Overview
Vertuelab is located in Portland, OR. The organization was established in 2008. According to its NTEE Classification (U12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Science & Technology and related organizations. As of 06/2022, Vertuelab employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Vertuelab is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Vertuelab generated $2.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (3.2%) each year. All expenses for the organization totaled $1.9m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (8.4%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Vertuelab has awarded 41 individual grants totaling $2,624,024. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO UNLEASH INNOVATION AND ENTREPRENEURSHIP THAT WILL SOLVE ENVIRONMENTAL CHALLENGES AND CATALYZE SHARED ECONOMIC PROSPERITY. PROVIDE FUNDING AND HOLISTIC ENTREPRENEURIAL SUPPORT TO CLEANTECH STARTUPS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CATALYZE COMPANIES IS FOCUSED ON DIRECT ENGAGEMENT WITH STARTUPS TO PROVIDE COACHING AND SUPPORT, IMPROVING THEIR SUCCESS. THESE PROGRAMS HELP STARTUP COMPANIES ACCESS FUNDING, GET SUPPORT FROM EXPERIENCED ENTREPRENEURS, MEET CUSTOMERS, GROW THEIR TEAMS, AND TELL THEIR STORIES.
CATALYZE CAPITAL IS FOCUSED ON ADDRESSING THE NEED FOR IMPROVED ACCESS TO CAPITAL FOR EARLY-STAGE CLEANTECH VENTURES AND INCREASING THE BASE OF RISK CAPITAL AVAILABLE IN THE REGION.
CATALYZE IMPACT ENCOMPASSES ACTIVITIES FOCUSED ON MEASURING AND MANAGING THE SOCIAL, ECONOMIC, AND ENVIRONMENTAL IMPACT OF VERTUELAB'S PIPELINE COMPANIES, AND THEIR PORTFOLIO COMPANIES, INCREASING THE IMPACT OF INNOVATION, AND CONVENING THE CLUSTER TO INCREASE IMPACT, PLAN FOR AND VERIFY MAXIMUM TRIPLE-BOTTOM-LINE IMPACT: IMPACT MEASUREMENT, DEI STRATEGY & PRACTICE, AND INNOVATION IMPLEMENTED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Kenney Executive Dir. | Officer | 40 | $208,357 |
Marion Vaughn Dir Impact Investm | 40 | $141,654 | |
Johanna Brickman Dep Dir/impact Str | 40 | $126,869 | |
Heather Andersen Chair | OfficerTrustee | 2 | $0 |
Joe Connors Secretary/treas | OfficerTrustee | 2 | $0 |
Maurice Rahming Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,501,751 |
| All other contributions, gifts, grants, and similar amounts not included above | $620,323 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,122,074 |
| Total Program Service Revenue | $44,365 |
| Investment income | $660,648 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,827,087 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $29,103 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $230,454 |
| Compensation of current officers, directors, key employees. | $38,212 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $818,646 |
| Pension plan accruals and contributions | $28,093 |
| Other employee benefits | $61,634 |
| Payroll taxes | $90,472 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $25,158 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $40,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $232,511 |
| Advertising and promotion | $202,031 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $11,357 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $11,125 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $4,290 |
| All other expenses | $3 |
| Total functional expenses | $1,883,081 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,208,712 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $224,654 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $14 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $1,446,993 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,880,373 |
| Accounts payable and accrued expenses | $138,798 |
| Grants payable | $0 |
| Deferred revenue | $6,500 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $2,600,000 |
| Other liabilities | $0 |
| Total liabilities | $2,745,298 |
| Net assets without donor restrictions | $2,354,634 |
| Net assets with donor restrictions | $1,780,441 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $6,880,373 |
Grants Awarded
Over the last fiscal year, Vertuelab has awarded $43,352 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
GADUSOL LABS PURPOSE: SCIENTIFIC RESEARCH | $5,200 |
GYBE PURPOSE: SCIENTIFIC RESEARCH | $11,000 |
ONBOARD DYNAMICS PURPOSE: INTERNSHIP GRANT | $10,000 |
OSHERU PURPOSE: SCIENTIFIC RESEARCH | $7,152 |
SKIP TECHNOLOGIES PURPOSE: INTERNSHIP GRANT | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Give To Research Yelm, WA | $4,657,410 | $4,428,357 |
National Space Grant Foundation Inc Albany, OR | $3,342,032 | $3,614,257 |
Vertuelab Portland, OR | $6,880,373 | $2,827,087 |
The National Academies Corporation Irvine, CA | $17,957,983 | $281,213 |
Unitary Fund San Francisco, CA | $536,413 | $835,211 |
Perlan Project Inc Beaverton, OR | $1,489,134 | $860,423 |
Idaho Stem Action Center Foundation Boise, ID | $9,457 | $621,319 |
Center For The Study Of Partisanship And Ideology Sierra Madre, CA | $558,482 | $187,842 |
California Grape Rootstock Research Foundation Sacramento, CA | $2,162,322 | $245,605 |
Siebel Energy Institute Redwood City, CA | $0 | $0 |
Usrca Lafayette, CA | $12,961 | $41,653 |
Phyllis And Mark Leppert Foundation For Fertility Research Bellevue, WA | $1,975 | $0 |
Bill Nye Science Foundation Los Angeles, CA | $248,526 | $0 |
Schefsky Foundation San Francisco, CA | $123,241 | $130 |
Coptic Business Solutions Yorba Linda, CA | $0 | $0 |
Electrijet Research Foundation Greenacres, WA | $406 | $0 |