Velocity 7
- Assets
- $35.1k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Grass Valley, CA
- Founding
- 12/2018
- Data as of
- 12/2023
- EIN
- 83-2673679
Organization Overview
Velocity 7 is located in Grass Valley, CA. The organization was established in 2018. According to its NTEE Classification (W02) the organization is classified as: Management & Technical Assistance, under the broad grouping of Public & Societal Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Velocity 7 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 12/2023, Velocity 7 generated $69.0 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 (64.6%) each year. All expenses for the organization totaled $51.0 during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3
SUPPORT THE RESEARCH, DEVELOPMENT, DEMONSTRATION AND COMMERCIALIZATION OF ADVANCED ENERGY, TRANSPORTATION, AND MANUFACTURING TECHNOLOGIES FOR THE BENEFIT OF THE RESIDENTS OF CALIFORNIA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Filiminov Director | 2 | $0 | |
Shawn Garvey Director | 2 | $0 | |
Matthew Hart Director/cfo | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $69 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $69 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $0 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $1 |
| Other expenses | $50 |
| Total expenses | $51 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $35,073 |
| Other assets | $0 |
| Total assets | $35,073 |
| Total liabilities | $0 |
| Net assets or fund balances | $35,073 |