Novacomm

Nonprofit profile at a glance

EIN
264236050
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
San Diego, CA, USA
Phone
8585464150
Rating
43
Verdict
MIXED
Rating confidence
Moderate
Sector
Urban, Community Economic Development

Reported finances

Revenue
$20,001
Expenses
$18,005
Assets
$2,974
Liabilities
$0

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

Leadership & pay

2 people listed

People named in this filing

  • WALTER DAVIS (BOARD MEMBER,OFFICER)
  • RORY MOORE (BOARD MEMBER,OFFICER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

Novacomm's mission is to create jobs and educate southern California's high-tech community at large, primarily through the evonexus incubator.

What it reported doing in 2024

Evonexus is a leading non-profit high-tech trade organization and incubator with locations in san diego, irvine and san mateo. Our mission is to stimulate the growth of new high technology companies in our region. We provide full services - furnished office space, domain experts and mentors, and the opportunity to leverage our wide network of business and vc contracts - to start-up companies striving to achieve sustainability. Admitted startups will participate in the program up to 24 months.evonexus' statistics to date:- established october 2009- 7,000+ applications received, 267 companies in our portfolio- $4.2b in total funding and acquisition outcome by companies. 85% of companies received funding during incubation. - 82% of portfolio companies are still active- 12 companies currently incubating- 54 acquisitions- 4,000+ jobs created

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
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: 92
  • Accountability: 64
  • Sustainability: 49
  • Growth: 0

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: Limited
  • 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; 64th percentile among comparable filings
  • Governance controls: 1 of 7 controls in place; rating input score 14
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 10%; rating input score 65; 65th percentile among comparable filings
  • Total-asset coverage ratio: 0.17; rating input score 10; 10th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: -14.5% per year; rating input score 0; 23rd percentile among comparable filings
  • Revenue growth: -12.3% per year; rating input score 0; 28th percentile among comparable filings
  • Asset growth: -19.5% per year; rating input score 0; 7th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 3 of 3 board members independent · 1 of 7 filing controls reported
  • Programs: 2 filed program accomplishments
  • Leadership: top reported pay $0 · 2 people listed
  • Consistency: 12 of 12 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 11 filing years from 2014 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 — Accountability: Governance controls: 5 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 10/100.
  • High — Growth: Asset growth scored 0/100.