Evonexus

Nonprofit profile at a glance

EIN
330827743
IRS 990 coverage
2015–2024
Forms available
Form 990 2024
Location
San Diego, CA, USA
Phone
8583542975
Rating
43
Verdict
MIXED
Rating confidence
Moderate
Sector
Chambers of Commerce & Business Leagues

Reported finances

Revenue
$884,459
Expenses
$1,197,648
Assets
$331,264
Liabilities
$2,107

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

Leadership & pay

32 people listed

Executive titles in this filing

  • EDWARD R MOORE (CEO)

Highest reported compensation

  • EDWARD R MOORE (CEO): $200,000 total reported compensation

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

Overview

Mission

Evonexus delivers value to the technology ecosystem through our non-profit incubator for high-tech early stage companies by providing access to capital, long-term incubation and mentorship, graduating independent companies and creating jobs for the region.

What it reported doing in 2024

Evonexus incubatora non-profit startup technology incubator launching vital and sustainable companies into California's innovation ecosystem. Evonexus empowers motivated entrepreneurs to turn their transformative ideas into fundable, commercially viable companies. Evonexus statistics to date:- 7000+ applications received - 20 companies currently incubating - 267 companies admitted - 54 acquisitions to date - $4.2b in total venture funding and acquistion outcomes by companies to date - 4000+ jobs created to date

Operating model

Revenue model
Other-operating. 94% of the money available for current operations came from other operating revenue.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 77
  • Accountability: 90
  • Sustainability: 17
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: -35.4%; rating input score 5; 5th percentile among comparable filings
  • Total-asset coverage ratio: 0.28; rating input score 13; 13th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 72; 72nd percentile among comparable filings
  • Officer compensation ratio: 16.7%; rating input score 20; 20th percentile among comparable filings

Growth

  • Program expense growth: -37.4% per year; rating input score 0; 1st percentile among comparable filings
  • Revenue growth: -2.2% per year; rating input score 0; 9th percentile among comparable filings
  • Asset growth: 6.7% per year; rating input score 100; 46th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 31 of 31 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.2M in reported program spending
  • Leadership: top reported pay $200K · 32 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 26 of 26 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 10 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • 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: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Sustainability: Operating margin scored 5/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 13/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Officer compensation ratio scored 20/100.