Electricore Inc
- Assets
- $8.3m
- Revenue
- $16.3m
- Investments
- $0.0
- Employees
- 4
- Location
- Valencia, CA
- Founding
- 12/1994
- Data as of
- 12/2022
- EIN
- 35-1888396
Organization Overview
Electricore Inc is located in Valencia, CA. The organization was established in 1994. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 12/2022, Electricore Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Electricore Inc 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, Electricore Inc generated $16.3m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 28.8% each year . All expenses for the organization totaled $16.2m during the year ending 12/2022. While expenses have increased by 28.4% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
ELECTRICORE IS ACTING AS A CONSORTIUM FOR ADVANCED TECHNOLOGY, DEVELOPMENT AND EDUCATION IN SCIENCE AND TECHNOLOGY, CONTRIBUTING TO THE SUCCESS OF THE UNITED STATES' RESEARCH & DEVELOPMENT AND EDUCATION VIA COLLABORATIVE PROGRAMS WITH FEDERAL, STATE AND LOCAL GOVERNMENTS, UNIVERSITIES AND PRIVATE SECTOR COMPANIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION FULFILLS ITS EXEMPT PURPOSE BY SERVICING CONTRACTS WITH US. GOVERNMENT ENTITIES TO CARRY OUT RESEARCH, TECHNOLOGY DEVELOPMENT AND EDUCATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ilker Bayraktar President & CEO | OfficerTrustee | 30 | $184,368 |
Deborah Jelen Executive Director | OfficerTrustee | 30 | $196,262 |
Sara J Odom Sr Program Manager | 40 | $205,356 | |
Claude Letourneau Chairman | Trustee | 2 | $0 |
Jacques Delisle Director | Trustee | 2 | $0 |
John Waters Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Svante Inc Project Subcontractor | 12/30/22 | $6,066,431 |
Kiewit Power Constructors Co Project Subcontractor | 12/30/22 | $3,747,308 |
Climeworks Project Subcontractor | 12/30/22 | $1,515,147 |
Kiewit Engineering Group Inc Project Subcontractor | 12/30/22 | $977,086 |
Bennett Pump Company Project Subcontractor | 12/30/22 | $372,485 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $252,937 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $252,937 |
| Total Program Service Revenue | $16,049,178 |
| Investment income | $2,765 |
| 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 | $16,320,847 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $7,500 |
| 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. | $689,031 |
| Compensation of current officers, directors, key employees. | $382,830 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $144,973 |
| Pension plan accruals and contributions | $6,885 |
| Other employee benefits | $1,836 |
| Payroll taxes | $47,846 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,108 |
| Fees for services: Accounting | $35,669 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $86,384 |
| Advertising and promotion | $0 |
| Office expenses | $13,031 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $10,100 |
| Travel | $80,363 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $45,604 |
| All other expenses | $0 |
| Total functional expenses | $16,222,123 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $238,338 |
| Savings and temporary cash investments | $391,420 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $437,461 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $31,957 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,160,014 |
| Total assets | $8,259,190 |
| Accounts payable and accrued expenses | $7,044,275 |
| Grants payable | $0 |
| Deferred revenue | $735,935 |
| 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 | $23,030 |
| Total liabilities | $7,803,240 |
| Net assets without donor restrictions | $455,950 |
| Net assets with donor restrictions | $0 |
| 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 | $8,259,190 |