Unitus Labs
- Assets
- $560.7k
- Revenue
- $558.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Orem, UT
- Founding
- 05/1999
- Data as of
- 12/2021
- EIN
- 87-0621367
Organization Overview
Unitus Labs is located in Orem, UT. The organization was established in 1999. According to its NTEE Classification (Q32) the organization is classified as: International Economic Development, under the broad grouping of International, Foreign Affairs & National Security and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Unitus Labs 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 12/2021, Unitus Labs generated $558.4k 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 (13.0%) each year. All expenses for the organization totaled $763.2k during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
UNITUS LABS SEEKS TO REDUCE GLOBAL POVERTY THROUGH ECONOMIC SELF-EMPOWERMENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
UNITUS LABS PROVIDES CONSULTING SUPPORT LOANS GRANTS AND INVESTMENTS TO PARTNER ORGANIZATIONS WHO ARE IMPLEMENTING INNOVATIVE MARKET-BASED APPROACHES TO REDUCING GLOBAL POVERTY WITH POTENTIAL FOR VERY LARGE SCALE IMPACT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joseph Grenny Chairman | OfficerTrustee | 5 | $0 |
Mike Murray Secretary | OfficerTrustee | 5 | $0 |
Robert Gay Board Member | Trustee | 5 | $0 |
Tim Stay Board Member | Trustee | 10 | $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 | $558,252 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $558,252 |
| Total Program Service Revenue | $0 |
| Investment income | $130 |
| 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 | $558,382 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $633,000 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $122,000 |
| Fees for services: Legal | $3,176 |
| Fees for services: Accounting | $2,795 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $779 |
| Advertising and promotion | $0 |
| Office expenses | $542 |
| Information technology | $863 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $763,155 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $552,421 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $8,313 |
| Total assets | $560,734 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $560,734 |
| 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 | $560,734 |
Grants Awarded
Over the last fiscal year, Unitus Labs has awarded $84,165 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Annapolis, MD PURPOSE: PROGRAM SUPPORT | $50,000 |
Salt Lake City, UT PURPOSE: PROGRAM SUPPORT | $34,165 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Unitus Labs has recieved totaling $450,000.
| Awarding Organization | Amount |
|---|---|
Michael & Susan Dell Foundation Austin, TX PURPOSE: UNITUS LABS: AN INCUBATION CUM ACCELERATION PROGRAM FOR JOBS & LIVELIHOODS TECHNOLOGY PLATFORMS | $450,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Center For Growth And Opportunity Logan, UT | $2,624,345 | $4,832,853 |
Junior Achievement Of Arizona Tempe, AZ | $8,907,412 | $7,233,481 |
Junior Achievement Rocky Mountain Greenwood Village, CO | $18,471,088 | $14,472,963 |
Mentors International Draper, UT | $5,706,247 | $4,438,718 |
Junior Achievement Of Utah Inc Salt Lake City, UT | $6,903,312 | $2,914,678 |
Maia Denver, CO | $1,535,356 | $1,063,464 |
Junior Achievement Of Southern Nevada Las Vegas, NV | $9,425,008 | $6,465,868 |
Womens Bakery Inc Denver, CO | $838,378 | $1,065,951 |
Unitus Labs Orem, UT | $560,734 | $558,382 |
Kinetix Global Development Corporation Albuquerque, NM | $236,646 | $690,645 |
Junior Achievement Of Southern Colorado Colorado Springs, CO | $1,691,350 | $573,672 |
Beauty For Ashes Worldwide Inc Colorado Springs, CO | $166,723 | $597,781 |