Covesa
- Assets
- $288.5k
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 0
- Location
- San Ramon, CA
- Founding
- 11/2009
- Data as of
- 12/2022
- EIN
- 26-3457544
Organization Overview
Covesa is located in San Ramon, CA. The organization was established in 2009. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Covesa 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, Covesa generated $1.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (7.3%) each year. All expenses for the organization totaled $1.2m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (9.8%) per year over the past 8 years. 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
COVESA IS AN OPEN, COLLABORATIVE AND IMPACTFUL TECHNOLOGY ALLIANCE; ACCELERATING THE FULL POTENTIAL OF CONNECTED VEHICLES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COVESA CONTINUED TWO MEMBER-DRIVEN COLLABORATIVE PROJECTS IN THE AREAS OF ANDROID AUTOMOTIVE AND VEHICLE SIGNAL SPECIFICATION (VSS). THESE PROJECTS BROUGHT TOGETHER APPROXIMATELY 25 MEMBERS AND 20 NON-MEMBERS TO DISCUSS AND DELIVER STANDARD APPROACHES FOR AUTOMAKERS AND THEIR SOFTWARE SUPPLIERS. THE VSS PROJECT IN PARTICULAR ADVANCED TO VERSION 2 OF THE SPECIFICATION AND ENJOYED SIGNIFICANT EARLY ADOPTION BY SEVERAL AUTOMOTIVE AND FLEET MANAGEMENT ORGANIZATIONS. BOTH OF THE PROJECTS REQUIRED DELIVERABLES TO BE ACCESSIBLE IN PUBLIC PROJECTS WHERE INNUMERABLE ORGANIZATIONS OUTSIDE OF THE COVESA MEMBERSHIP (IN AUTOMOTIVE AND NON-AUTOMOTIVE INDUSTRIES) ALSO BENEFITTED.
COVESA CONTINUED ITS SEMI-ANNUAL ALL MEMBER MEETINGS IN APRIL AND OCTOBER OF 2022. THESE EVENTS WERE VIRTUAL DUE TO THE COVID-19 PANDEMIC, BUT STILL RESULTED IN ROUGHLY 100 ORGANIZATIONS AND 200 PEOPLE IN ATTENDANCE AT EACH. BOTH BUSINESS-LEVEL AND TECHNICAL PRESENTATIONS WERE MADE FROM ROUGHLY 60 SPEAKERS. WHILE THE EVENT WAS NOT EXECUTED UNTIL JANUARY 2022, COVESA ALSO PREPARED FOR A SIGNIFICANT SHOWCASE AND RECEPTION EVENT AT THE CES 2022. THIS INVOLVED CONTACTING ROUGHLY 75 ORGANIZATIONS FOR PARTICIPATION AND SPONSORSHIP. ROUGHLY 40 ORGANIZATONS AGREED TO PARTICIPATE AND/OR SPONSOR THE EVENT.
COVESA CONTINUED TO ACTIVELY ALIGN WITH OTHER STANDARDS DEVELOPMENT AND COLLABORATIVE ORGANIZATIONS INCLUDING W3C, ESYNC ALLIANCE, OPEN INSURANCE NETWORK AND SEVERAL OTHERS UNDER THE LABEL OF COMMON VEHICLE INTERFACE INITIATIVE (CVII). CVII IS AN UMBRELLA INITIATIVE UNDER WHICH COVESA AND SEVERAL OTHER ORGANIZATIONS ACTIVELY LIAISE ON COMMON APPROACHES FOR CONNECTED VEHICLE ARCHITECTURES, INTERFACES AND DATA DESCRIPTION. CVII INFLUENCED AND/OR ENGAGED ROUGHLY 1,000 AUTOMOTIVE INDUSTRY PARTICIPANTS, GOERNMENT-FUNDED TECHNOLOGY PROJECTS IN U.S. AND EUROPE AND NATIONAL AND INTERNATIONAL STANDARDS BODIES LIKE ISO.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Ziganek Vp/board Member | OfficerTrustee | 8 | $0 |
Katrin Matthes Board Member | Trustee | 4 | $0 |
Matt Jones President/board Member | OfficerTrustee | 8 | $0 |
Graham Smethurst Board Member | Trustee | 4 | $0 |
Gerald Spreitz Secretary/board Member | OfficerTrustee | 4 | $0 |
Brandy Goolsby Treasurer/board Member | OfficerTrustee | 4 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Global Inventures Management Services | 12/30/22 | $310,228 |
Paul Boyes Llc Technical Services | 12/30/22 | $252,083 |
Michael Nunnery Marketing Services | 12/30/22 | $149,750 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $1,272,280 |
| Investment income | $24 |
| 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 | $1,272,304 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $148,595 |
| Fees for services: Legal | $20,210 |
| Fees for services: Accounting | $12,310 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,008,155 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $5,533 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,806 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,081 |
| All other expenses | $0 |
| Total functional expenses | $1,212,545 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $189,463 |
| Savings and temporary cash investments | $30,009 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $29,000 |
| 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 | $39,996 |
| 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 | $288,468 |
| Accounts payable and accrued expenses | $62,102 |
| Grants payable | $0 |
| Deferred revenue | $153,333 |
| 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 | $215,435 |
| Net assets without donor restrictions | $73,033 |
| 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 | $288,468 |