Element 8
- Assets
- $128.6k
- Revenue
- $385.9k
- Investments
- $0.0
- Employees
- 2
- Location
- Seattle, WA
- Founding
- 11/2012
- Data as of
- 12/2022
- EIN
- 26-0796304
Organization Overview
Element 8 is located in Seattle, WA. The organization was established in 2012. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Element 8 employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Element 8 is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2022, Element 8 generated $385.9k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 17.7% each year . All expenses for the organization totaled $385.9k during the year ending 12/2022. While expenses have increased by 17.5% 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
THE ORGANIZATION'S PRIMARY ACTIVITIES ARE TO IMPROVE CONDITIONS FOR CLEANTECH BUSINESSES IN THE PACIFIC NORTHWEST AND SUPPORT ENTREPRENEURS IN BUILDING STRONG BUSINESSES THAT WILL CREATE NEW JOBS AND WILL STIMULATE THE REGION'S ECONOMY
Describe the Organization's Program Activity:
Part 3 - Line 4a
GREW E8 IMPACT INVESTOR MEMBERSHIP TO 135 (FROM 121), ADDING MEMBERS THROUGHOUT THE UNITED STATES AND BEYOND. STEWARDSHIP INCLUDED MONTHLY MEETINGS TO REVIEW EARLY STAGE CLIMATETECH DEALS, AS WELL AS EDUCATIONAL AND NETWORKING EVENTS.
FACILITATED MORE THAN $8.5 MILLION IN INVESTMENTS IN 34 COMPANIES IN THE CLIMATETECH SECTOR, INCLUDING TECHNOLOGIES THAT SUPPORT ELECTRIC VEHICLE CHARGING (E.G. SPARKCHARGE), HYDROGEN STORAGE (E.G. STEELHEAD COMPOSITES), AND IMPROVED GREEHOUSES AND AGRICULTURE (E.G. UBIQD).
SUPPORTED $600,000 IN PHILANTHROPIC IMPACT INVESTING VIA OUR DECARBON8 EFFORT, WHICH FOCUSED ON SUSTAINABLE AGRICULTURE AND DIRECT INVESTING FROM FOUNDATIONS AND FUNDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael H Rea Executive Director | Trustee | 40 | $124,000 |
Eric Berman Director | Trustee | 5 | $0 |
Ramalee Wulf Treasurer | OfficerTrustee | 5 | $0 |
Eric Carlson Secretary | OfficerTrustee | 5 | $0 |
Amy Bann Director | Trustee | 1 | $0 |
Himalya Rao Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $153,850 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $60,686 |
| All other contributions, gifts, grants, and similar amounts not included above | $171,368 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $385,904 |
| Total Program Service Revenue | $0 |
| Investment income | $8 |
| 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 | $385,912 |
| 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 | $0 |
| 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 | $174,159 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $6,995 |
| Payroll taxes | $16,359 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $944 |
| Fees for services: Accounting | $6,921 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $134,220 |
| Advertising and promotion | $3,686 |
| Office expenses | $1,215 |
| Information technology | $1,654 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $4,627 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $10,688 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,201 |
| All other expenses | $0 |
| Total functional expenses | $385,925 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $128,590 |
| 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 | $0 |
| Total assets | $128,590 |
| 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 | $4,885 |
| Total liabilities | $4,885 |
| Net assets without donor restrictions | $0 |
| 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 | $123,705 |
| Total liabilities and net assets/fund balances | $128,590 |