Energize Colorado Inc

Nonprofit profile at a glance

EIN
851446446
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Boulder, CO, USA
Phone
3144010501
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Community Improvement, Capacity Building N.E.C.

Official website

Reported finances

Revenue
$1,268,713
Expenses
$2,591,405
Assets
$15,449,662
Liabilities
$13,642,726

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

Leadership & pay

16 people listed

Executive titles in this filing

  • BONNIE WATSON (CHIEF EXECUTIVE OFFICER)

Highest reported compensation

  • BONNIE WATSON (CHIEF EXECUTIVE OFFICER): $152,848 total reported compensation
  • SCOTT ROMANO (CHIEF OPERATIONS OFFICER): $112,281 total reported compensation

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

Overview

Mission

We foster resiliency in underinvested business communities across Colorado by innovatively addressing capital gaps. At energize Colorado, we envision a future where we are the go-to destination for business owners seeking comprehensive technical assistance and capital solutions. Our commitment is to help close the capital gap in Colorado, positioning ourselves as industry leaders in small business innovation. We aspire to cultivate the most resilient businesses in the state, charting a path toward lasting economic resiliency and sustainability.

What it reported doing in 2024

Energize Colorado's small business lending program is designed to provide flexible and below market-rate loans to historically underinvested entrepreneurs. Loans range between $5,000 and $150,000 with interest rates between 3.6% and 8.25% and terms of up to five years. Terms are dependent on applicant financials, collateral, and the length in which the business has been in operation. To ensure capital is deployed in line with our mission, energize Colorado provides dedicated technical assistance, mentorship, and education related to capital access and business growth strategies.

Operating model

Revenue model
Earned-program. 68% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 80
  • Transparency & Controls: 70
  • Accountability: 86
  • Sustainability: 31
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 72.1%; rating input score 72
  • Fundraising efficiency: $2.3 raised per $1 spent on fundraising; rating input score 7; 7th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 67
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -104.3%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 5.96; rating input score 87; 87th percentile among comparable filings
  • Liabilities to assets ratio: 0.88; rating input score 7; 7th percentile among comparable filings
  • Officer compensation ratio: 10.2%; rating input score 36; 36th percentile among comparable filings

Growth

  • Program expense growth: 37.5% per year; rating input score 100; 93rd percentile among comparable filings
  • Revenue growth: -30.5% per year; rating input score 0; 1st percentile among comparable filings
  • Asset growth: 41% per year; rating input score 100; 95th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 72.1% of spending went to programs
  • Governance: 12 of 12 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1.9M in reported program spending
  • Leadership: top reported pay $153K · 16 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 27 of 27 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 4 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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.

  • High — Financial Efficiency: Fundraising efficiency scored 7/100.
  • Review — Accountability: Governance controls: 3 of 9 not reported.
  • High — Sustainability: Operating margin scored 1/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 7/100.
  • Moderate — Sustainability: Officer compensation ratio scored 36/100.