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Nonprofit profile at a glance

EIN
883454913
IRS 990 coverage
2022–2024
Forms available
Form 990 2024
Location
Denver, CO, USA
Phone
2406019565
Rating
58
Verdict
MIXED
Rating confidence
Moderate
Sector
Education N.E.C.

Official website

Reported finances

Revenue
$893,377
Expenses
$703,989
Assets
$388,731
Liabilities
$11,669

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

5 people listed

Executive titles in this filing

  • Zaneta Kelsey (Executive Director)

Highest reported compensation

  • Zaneta Kelsey (Executive Director): $110,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Advancing equity in tech start-ups. Mentorship is provided with non-dillutive grants. Attendees are exposed to subject matter experts and permanent access to a community of BIPOC leaders.

What it reported doing in 2024

Provide $20,000 in equity-free funding to accepted start-ups including mentoring customized for each company.

Operating model

Revenue model
Donor-supported. 78% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 61% of its reported program spending out as grants.

The verdict

MIXED - The filed numbers largely add up and program spending has grown recently. A relatively small share of available resources goes toward mission work and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 43
  • Transparency & Controls: 84
  • Accountability: 40
  • Sustainability: 53
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 33%; rating input score 33
  • Program expense ratio: 41.9%; rating input score 42
  • Fundraising efficiency: $1,135.89 raised per $1 spent on fundraising; rating input score 98; 98th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 8th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 81.1%; rating input score 81; 35th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 25%; rating input score 25; 10th percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 21.2%; rating input score 77; 77th percentile among comparable filings
  • Total-asset coverage ratio: 0.55; rating input score 26; 26th percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 58; 58th percentile among comparable filings
  • Officer compensation ratio: 15.6%; rating input score 22; 22nd percentile among comparable filings

Growth

  • Program expense growth: 59% per year; rating input score 100; 97th percentile among comparable filings
  • Revenue growth: 87.1% per year; rating input score 100; 99th percentile among comparable filings
  • Asset growth: 100.3% per year; rating input score 100; 99th percentile among comparable filings

Details

  • Where the money goes: 33% of revenue deployed · 41.9% of spending went to programs
  • Governance: 1 of 4 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $295K in reported program spending
  • Leadership: top reported pay $110K · 5 people listed
  • Consistency: 24 of 25 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: 9 filed money-flow records
  • Related organizations: 7 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Financial Efficiency: Mission deployment rate scored 33/100.
  • High — Accountability: Independent voting board scored 25/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 42/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 26/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 22/100.
  • Review — Sustainability: Liabilities to assets ratio scored 58/100.