Extreme Tech Challenge
- Assets
- $610.2k
- Revenue
- $956.0k
- Investments
- $0.0
- Employees
- 2
- Location
- Palo Alto, CA
- Founding
- 01/2020
- Data as of
- 12/2023
- EIN
- 84-1753912
Organization Overview
Extreme Tech Challenge is located in Palo Alto, CA. The organization was established in 2020. According to its NTEE Classification (U40) the organization is classified as: Engineering & Technology, under the broad grouping of Science & Technology and related organizations. As of 12/2023, Extreme Tech Challenge employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Extreme Tech Challenge 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, Extreme Tech Challenge generated $956.0k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 13.8% each year . All expenses for the organization totaled $873.7k during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE EXTREME TECH CHALLENGESM (XTC) IS A 501(C)(3) NONPROFIT DEVOTED TO ELEVATING THE NEXT-GENERATION OF ENTREPRENEURS CREATING NEW TECHNOLOGIES AND INNOVATIONS TO BENEFIT HUMANKIND. XTC SUPPORTS AND SHOWCASES THE INNOVATORS HARNESSING THE POWER OF TECHNOLOGY TO ADDRESS THE GREATEST CHALLENGES FACING HUMANITY AND OUR PLANET.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXTREME TECH CHALLENGE STARTUP COMPETITIONS - STARTUP COMPETITIONS FOR ENTREPRENEURS ADDRESSING GLOBAL CHALLENGES. THE COMPETITIONS DRAW FROM THE UNITED NATIONS SUSTAINABLE DEVELOPMENT GOALS AND CONNECT INNOVATORS WITH A NETWORK OF INVESTORS, CORPORATIONS, AND MENTORS TO HELP THEM RAISE CAPITAL, LAUNCH CORPORATE COLLABORATIONS, AND SCALE THEIR WORLD-CHANGING STARTUPS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Victoria Slivkoff Executive Managing Director | Officer | 40 | $379,375 |
Nancy Yuan Strategic Program Manager | 40 | $132,000 | |
Young Sohn Chairman Of The Board And President | OfficerTrustee | 10 | $0 |
William Tai Board Member And CFO | OfficerTrustee | 10 | $0 |
Lars Reger Board Member | Trustee | 4 | $0 |
Catherine Bischoff Board Member | Trustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $956,038 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $956,038 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $956,038 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $10,000 |
| 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. | $379,375 |
| Compensation of current officers, directors, key employees. | $61,186 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $132,000 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $32,608 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $386 |
| Fees for services: Accounting | $10,544 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $161,845 |
| Advertising and promotion | $805 |
| Office expenses | $1,528 |
| Information technology | $1,376 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $77,094 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,622 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $435 |
| Insurance | $4,458 |
| All other expenses | $0 |
| Total functional expenses | $873,668 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $545,261 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $64,840 |
| Net Land, buildings, and equipment | $109 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $610,210 |
| Accounts payable and accrued expenses | $23,778 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Total liabilities | $23,778 |
| Net assets without donor restrictions | $586,432 |
| 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 | $610,210 |