Vertuelab
- Assets
- $3.9m
- Revenue
- $2.3m
- Investments
- $0.0
- Employees
- 11
- Location
- Portland, OR
- Founding
- 10/2008
- Data as of
- 06/2021
- EIN
- 26-1652936
Organization Overview
Vertuelab is located in Portland, OR. The organization was established in 2008. According to its NTEE Classification (U12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Science & Technology and related organizations. As of 06/2021, Vertuelab employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Vertuelab 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 06/2021, Vertuelab generated $2.3m 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 (6.3%) each year. All expenses for the organization totaled $1.5m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (11.7%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Vertuelab has awarded 45 individual grants totaling $2,732,865. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO UNLEASH INNOVATION AND ENTREPRENEURSHIP THAT WILL SOLVE ENVIRONMENTAL CHALLENGES AND CATALYZE SHARED ECONOMIC PROSPERITY. PROVIDE FUNDING AND HOLISTIC ENTREPRENEURIAL SUPPORT TO CLEANTECH STARTUPS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COMMERCIALIZATION ACTIVITIESDURING THE FISCAL YEAR, THE ORGANIZATION COMMITTED TO FUNDING PROTOTYPE PROJECTS WITH GRANTS INVOLVING UNIVERSITY-STARTUP COMPANY TEAMS ADDRESSING A TECHNICAL CHALLENGE FACED BY THE COMPANY PARTNER. THE ORGANIZATION ALSO CONNECTS STARTUP COMPANIES TO POTENTIAL PRIVATE INVESTORS, HOSTS A 18-WEEK PROGRAM DELIVERING MENTORSHIP, HELPS COMPANIES APPLY FOR FEDERAL SBIR/STTR FUNDING, FUNDS INTERNS TO WORK AT STARTUP COMPANIES, AND HELPS TO SHOWCASE STARTUP COMPANIES TO INVESTORS AND PARTNERS AT MAJOR EVENTS.
INNOVATION & OUTREACHVERTUELAB ENGAGES STRATEGICALLY WITH INDUSTRY AND OTHER CLEAN TECHNOLOGY ECOSYSTEMSTAKEHOLDERS TO PROMOTE INNOVATION AND MAKE CONNECTIONS THAT LEAD TO NEW COLLABORATIONS, BETWEEN UNIVERSITIES, STARTUPS, CORPORATIONS, AND OTHERS. DURING THE YEAR ENDED JUNE 30, 2021THE ORGANIZATION HELPED CONVENE PARTNERS TO SECURE A GRANT TO FUND THE NORTHWEST CLEANTECHINNOVATION NETWORK. THIS NETWORK WILL ESTABLISH A REGIONAL ENTREPRENEURIAL SUPPORT SYSTEM TO INCREASE AND ACCELERATE THE DEVELOPMENT, SUCCESS RATE, AND COMMERCIALIZATION OF EARLY-STAGE CLEAN ENERGY STARTUPS IN THE NORTHWEST. IN ADDITION, VERTUELAB INVESTED TIME AND FINANCIAL RESOURCES INTO DEVELOPING AND IMPLEMENTING A METHODOLOGY FOR FORECASTING, MEASURING, AND MANAGING THE ENVIRONMENTAL AND SOCIAL IMPACT OF THE TECHNOLOGIES THAT IT SUPPORTS. THE ORGANIZATION ALSO RAISED CAPITAL FOR AND INITIATED INVESTMENT ACTIVITIES FROM A CLIMATE IMPACT FUND THAT PROVIDES RISK-TOLERANT CAPITAL TO STARTUPS FROM THE UNITEDSTATES AND CANADA WORKING TO ADDRESS THE GLOBAL CLIMATE CRISIS.IN ADDITION, VERTUELAB INVESTED TIME AND FINANCIAL RESOURCES INTO DEVELOPING A METHODOLOGY FOR MEASURING AND MANAGING THE ENVIRONMENTAL AND SOCIAL IMPACT OF THE TECHNOLOGIES THAT IT SUPPORTS. THE ORGANIZATION ALSO CONDUCTED RESEARCH TO SUPPORT THE DEVELOPMENT OF A NEW CLIMATE IMPACT FUND THAT WOULD PROVIDE RISK-TOLERANT CAPITAL TO STARTUPS WORKING TO ADDRESS THE GLOBAL CLIMATE CRISIS.
VERTUELAB IMPACT SUMMITAS PART OF ITS ENVIRONMENTAL AND SOCIAL IMPACT ACTIVITY, VERTUELAB HOSTS FUEL, AN ANNUAL SUBMIT THAT BRINGS TOGETHER COMMUNITY OF FUTURE-FOCUSED LEADERS, INNOVATORS, ENTREPRENEURS, AND INVESTORS TO CATALYZE SOLUTION FOR CLIMATE CHANGE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Kenney Executive Dir. | Officer | 40 | $208,415 |
Marion Vaughn Dir Impact Investm | 40 | $138,640 | |
Johanna Brickman Dep Dir/impact Str | 40 | $118,643 | |
Joe Connors Secretary/treas | OfficerTrustee | 2 | $0 |
Kirk Washington Chair | OfficerTrustee | 2 | $0 |
Dennis Wilde Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,585,798 |
| All other contributions, gifts, grants, and similar amounts not included above | $679,550 |
| Noncash contributions included in lines 1a–1f | $632 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,265,348 |
| Total Program Service Revenue | $56,540 |
| Investment income | $4,695 |
| 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 | $2,326,583 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $51,367 |
| 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. | $222,860 |
| Compensation of current officers, directors, key employees. | $37,178 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $745,774 |
| Pension plan accruals and contributions | $21,546 |
| Other employee benefits | $43,490 |
| Payroll taxes | $80,699 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $10,588 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $245,631 |
| Advertising and promotion | $0 |
| Office expenses | $10,474 |
| Information technology | $34,991 |
| Royalties | $0 |
| Occupancy | $14,590 |
| Travel | $887 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $16,769 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $7,542 |
| All other expenses | $0 |
| Total functional expenses | $1,509,395 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,216,976 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $522,674 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $19 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $5,969 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $200,009 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,945,647 |
| Accounts payable and accrued expenses | $30,594 |
| Grants payable | $3,969 |
| Deferred revenue | $20,000 |
| 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 | $775,000 |
| Other liabilities | $0 |
| Total liabilities | $829,563 |
| Net assets without donor restrictions | $1,518,512 |
| Net assets with donor restrictions | $1,597,572 |
| 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 | $3,945,647 |
Grants Awarded
Over the last fiscal year, Vertuelab has awarded $90,136 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
PORTLAND STATE UNIVERSITY PURPOSE: SCIENTIFIC RESEARCH | $39,689 |
FOOD4ALL PURPOSE: SBIR CONSULTING | $11,000 |
FOCAL TECHNOLOGIES PURPOSE: COMMERCIALIZING | $9,000 |
COMMUNITY ENERGY LABS PURPOSE: SBIR CONSULTING | $8,438 |
LEAPFROG DESIGN PURPOSE: SBIR CONSULTING | $5,862 |
GADUSOL LABORATORIES PURPOSE: INTERNSHIP GRANT | $5,383 |
Grants Recieved
Over the last fiscal year, we have identified 7 grants that Vertuelab has recieved totaling $793,658.
| Awarding Organization | Amount |
|---|---|
Woka Foundation Newbury Park, CA PURPOSE: CLIMATETECH FELLOWS | $500,000 |
Meyer Memorial Trust Portland, OR PURPOSE: TO STRENGTHEN VERTUELAB'S DIVERSITY, EQUITY AND INCLUSION CAPACITY AND EXPAND THEIR SUPPORT FOR GREEN TECHNOLOGY ENTREPRENEURS OF COLOR INCLUDING PROVIDING CAPITAL FOR CLIMATE-FOCUSED NEW TECHNOLOGIES | $83,591 |
Meyer Memorial Trust Portland, OR PURPOSE: TO STRENGTHEN THEIR DIVERSITY, EQUITY, AND INCLUSION CAPACITY AND GROW THEIR WORK TO SUPPORT GREEN TECHNOLOGY ENTREPRENEURS OF COLOR AND PROVIDE CAPITAL FOR THEIR CLIMATE FOCUSED NEW TECHNOLOGIES | $83,591 |
Schwab Charitable Fund San Francisco, CA PURPOSE: PUBLIC, SOCIETAL BENEFIT | $75,250 |
Goldman Sachs Philanthropy Fund New York, NY PURPOSE: ENVIRONMENT & ANIMAL PROTECTION | $50,000 |
Goldman-Sonnenfeldt Foundation Inc New York, NY PURPOSE: EDUCATIONAL AND CHARITABLE | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
National Space Grant Foundation Inc Albany, OR | $2,928,513 | $2,097,734 |
Vertuelab Portland, OR | $3,945,647 | $2,326,583 |
The National Academies Corporation Irvine, CA | $20,487,959 | $666,842 |
Idaho Stem Action Center Foundation Boise, ID | $98 | $1,140,460 |
Perlan Project Inc Beaverton, OR | $1,278,425 | $1,310,788 |
Unitary Fund San Francisco, CA | $608,944 | $1,005,122 |
California Grape Rootstock Research Foundation Sacramento, CA | $1,990,350 | $369,642 |
Center For The Study Of Partisanship And Ideology Sierra Madre, CA | $676,619 | $24,000 |
Usrca Lafayette, CA | $53,783 | $117,540 |
Siebel Energy Institute Redwood City, CA | $0 | $0 |
Science Partnership Fund Pasadena, CA | $2,622 | $0 |
Bill Nye Science Foundation Los Angeles, CA | $224,364 | $0 |