Adventium Labs

Nonprofit profile at a glance

EIN
810566129
IRS 990 coverage
2010–2011
Forms available
Form 990 2011
Location
Minneapolis, MN, USA
Phone
6123278241
Rating confidence
Limited
Sector
Disaster Preparedness and Relief Services

Official website

Reported finances

Revenue
$160,528
Expenses
$26,252
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2011. Amounts in USD.

Leadership & pay

2 people listed

Source: IRS Form 990. Selected filing: tax year 2011. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Adventium labs is a research and development lab focusing on the development of advanced software applications for complex systems, with a particular emphasis on automated reasoning, security and supporting architectures. Adventium labs is dedicated to performing and publishing scientific research and to the creation, maturation and commercialization of intellectual property.

What it reported doing in 2011

Adventium labs was incorporated in the state of Minnesota in august 2002 as a nonprofit corporation. Adventium labs is a research and development lab, headquartered in minneapolis, Minnesota, and focused on the development of advanced software applications for complex systems, with a particular emphasis on automated reasoning, security and supporting architectures. Adventium labs is exempt as an organization described in internal revenue code section 501(c)(3) because it engages in scientific research for the benefit of the general public. At the end of 2011, adventium labs sold its assets to adventium enterprises, llc. Adventium labs spent 2012 paying out its obligations (funded by receivables received from 2011 efforts) and closing down operations. On december 31, 2011, adventium labs novated all its contracts to adventium enterprises. Therefore, no work was performed for adventium labs in 2012.on october 12, 2012, adventium labs was dissolved.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 100
  • Accountability: 14
  • Sustainability: 47
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 60th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 7th percentile among comparable filings
  • Governance controls: 3 of 9 controls in place; rating input score 33
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 83.6%; rating input score 99; 99th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 0; 0th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 147.6%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -178.6% per year; rating input score 0; 0th percentile among comparable filings
  • Asset growth: -200% per year; rating input score 0; 0th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 0 of 2 board members independent · 3 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $24K · 2 people listed
  • Consistency: 11 of 11 current checks pass
  • Schedules: 5 filed schedules
  • Filing history: 2 filing years from 2010 to 2011
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.

Key Signals

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

  • High — Accountability: Independent voting board scored 0/100.
  • Moderate — Accountability: Governance controls: 5 of 8 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 1/100.