Rev1 Ventures
- Assets
- $26.8m
- Revenue
- $13.0m
- Investments
- $6.9m
- Employees
- 51
- Location
- Columbus, OH
- Founding
- 08/2000
- Data as of
- 12/2022
- EIN
- 31-1658220
Organization Overview
Rev1 Ventures is located in Columbus, OH. The organization was established in 2000. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. As of 12/2022, Rev1 Ventures employed 51 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rev1 Ventures 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 12/2022, Rev1 Ventures generated $13.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.6% each year. All expenses for the organization totaled $12.2m during the year ending 12/2022. While expenses have increased by 7.7% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Rev1 Ventures has awarded 64 individual grants totaling $5,413,297. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
WE HELP ENTREPRENEURS OF CENTRAL OHIO TECH START-UPS BUILD GREAT COMPANIES THROUGH OUR UNIQUE VENTURE DEVELOPMENT SERVICES, BUSINESS INCUBATOR AND CAPITAL ATTRACTION.
Describe the Organization's Program Activity:
STARTUP STUDIO- REV1 SUPPORTS START-UPS THROUGH THE FIRST EXPERTS LEADS AN ONGOING, DATA-DRIVEN PROCESS THAT ENSURES ENTREPRENEURS DEVELOP PRODUCTS PEOPLE WANT AND COMPANIES PEOPLE NEED. TOP 10 UBI INCUBATOR, OFFERING TECHNICALLY FOCUSED ENTREPRENEURS FLEXIBLE OFFICE AND LAB SPACE TO HELP START THEIR COMPANIES ALONG SIDE THE REV1 TEAM OF ADVISORY EXPERTS.
FUND MANAGEMENT- REV1'S INVESTMENT TEAM HANDLES THE INTAKE, VETTING AND INVESTMENT DUE DILIGENCE FOR MULTIPLE INVESTMENT FUNDS TARGETING A BROAD RANGE OF HIGH-GROWTH TECH STARTUPS, INCLUDING IT AND HEALTH IT, BIOSCIENCES, ADVANCED MATERIALS, AGRIBUSINESS, AND ADVANCED AND ALTERNATIVE ENERGY. REV1 ALSO HANDLES THE DAILY ACCOUNTING AND COORDINATES ANNUAL TAX RETURNS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tom Walker CEO & President | OfficerTrustee | 40 | $725,000 |
Dave Dennis Director | Trustee | 2 | $0 |
Stephanie Fortener Director | Trustee | 2 | $0 |
Chetan Kandhari Director | Trustee | 2 | $0 |
David Meuse Director | Trustee | 2 | $0 |
Peter Mohler Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
C Square Consulting Llc Client Consulting | 12/30/22 | $112,050 |
Robert Wiggins Client Consulting | 12/30/22 | $101,565 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $9,237,335 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,861,056 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,098,391 |
| Total Program Service Revenue | $2,465,240 |
| Investment income | $28,338 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$633,972 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,957,997 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,200,000 |
| 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. | $2,284,368 |
| Compensation of current officers, directors, key employees. | $526,179 |
| Compensation to disqualified persons | $215,317 |
| Other salaries and wages | $2,158,659 |
| Pension plan accruals and contributions | $74,822 |
| Other employee benefits | $192,844 |
| Payroll taxes | $320,273 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $38,341 |
| Fees for services: Lobbying | $55,500 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,277,030 |
| Advertising and promotion | $410,441 |
| Office expenses | $138,378 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,205,396 |
| Travel | $70,978 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $93,976 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $458,559 |
| Insurance | $58,296 |
| All other expenses | $59,845 |
| Total functional expenses | $12,233,760 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,421,557 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,893,932 |
| Accounts receivable, net | $500 |
| Loans from Officers, Directors, or Controlling Persons | $690,000 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $669,981 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $204,608 |
| Net Land, buildings, and equipment | $982,972 |
| Investments—publicly traded securities | $9,263,541 |
| Investments—other securities | $6,866,793 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $841,835 |
| Total assets | $26,835,719 |
| Accounts payable and accrued expenses | $1,259,420 |
| Grants payable | $0 |
| Deferred revenue | $244,098 |
| 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 | $0 |
| Other liabilities | $1,090,199 |
| Total liabilities | $2,593,717 |
| Net assets without donor restrictions | $18,431,730 |
| Net assets with donor restrictions | $5,810,272 |
| 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 | $26,835,719 |
Grants Awarded
Over the last fiscal year, Rev1 Ventures has awarded $1,200,000 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
DIGITAL STORY THERAPIES INC PURPOSE: EMPLOYEE COSTS, EQUIPMENT, SUPPLIES | $110,000 |
COLOR CODED LABS PURPOSE: EMPLOYEE COSTS, EQUIPMENT, SUPPLIES | $50,000 |
ENLIGHTEN MOBILITY LLC PURPOSE: EMPLOYEE COSTS, EQUIPMENT, SUPPLIES | $150,000 |
EQUITEK PURPOSE: EMPLOYEE COSTS, EQUIPMENT, SUPPLIES | $100,000 |
GAMES THAT MOVE YOU PURPOSE: EMPLOYEE COSTS, EQUIPMENT, SUPPLIES | $150,000 |
HDO HEALTH PURPOSE: EMPLOYEE COSTS, EQUIPMENT, SUPPLIES | $150,000 |