VertueLab

Nonprofit profile at a glance

EIN
261652936
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Portland, OR, USA
Phone
9717702378
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Fund Raising and Fund Distribution

Reported finances

Revenue
$1,997,887
Expenses
$2,101,998
Assets
$5,787,849
Liabilities
$3,445,272

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

Leadership & pay

11 people listed

Highest reported compensation

  • AINA ABIODUN (Executive Dir.): $199,984 total reported compensation
  • FELICIA KANG (DIR FINANCE & OPER): $135,692 total reported compensation

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

Overview

Mission

To unleash innovation and entrepreneurship that will solve environmental challenges and catalyze shared economic prosperity. Provide funding and holistic entrepreneurial support to cleantech startups.

What it reported doing in 2024

Innovation & entrepreneurship -vertuelab works directly with early-stage startups and innovations focused on solving environmental challenges by providing coaching, mentorship, and resources that improve startup success, especially in the climate tech space. On a limited basis the organization also helps companies from other technology sectors. During the fiscal year, the organization connects startup companies and potential private investors, provided guidance on federal sbir/sttr funding applications, and delivered on business accelerator programs. Vertuelab programs include: 45camp, a climate technology startup program designed to underinvested entrepreneurs. The program consists of a three-day workshop, a ten-week pre-accelerator, and a ten-week accelerator.federal funding assistance, a program that helps early-stage companies pursue federal funding opportunities, including sbir and sttr grants.cascadia cleantech accelerator, an 18-week business accelerator that provides mentorship, curriculum, investor connections, and funding support to early-stage cleantech startups.

Operating model

Revenue model
Grant-funded. 73% of the money available for current operations came from government grants.
Distribution model
Direct operator. The filing allocates 93% 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 program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 72
  • Transparency & Controls: 79
  • Accountability: 100
  • Sustainability: 37
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 79.5%; rating input score 79
  • Program expense ratio: 75%; rating input score 75
  • Fundraising efficiency: $7.01 raised per $1 spent on fundraising; rating input score 27; 27th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • 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: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -5.2%; rating input score 24; 24th percentile among comparable filings
  • Total-asset coverage ratio: 2.75; rating input score 73; 73rd percentile among comparable filings
  • Liabilities to assets ratio: 0.6; rating input score 13; 13th percentile among comparable filings
  • Officer compensation ratio: 16%; rating input score 21; 21st percentile among comparable filings

Growth

  • Program expense growth: -6.8% per year; rating input score 0; 6th percentile among comparable filings
  • Revenue growth: 0.1% per year; rating input score 100; 15th percentile among comparable filings
  • Asset growth: 12.1% per year; rating input score 100; 65th percentile among comparable filings

Details

  • Where the money goes: 79.5% of revenue deployed · 75% of spending went to programs
  • Governance: 9 of 9 board members independent · 9 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $1.6M in reported program spending
  • Leadership: top reported pay $200K · 11 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 28 of 28 current checks pass
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 15 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 5 filed money-flow records
  • Related organizations: 3 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.

  • High — Financial Efficiency: Fundraising efficiency scored 27/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Operating margin scored 24/100.
  • High — Sustainability: Liabilities to assets ratio scored 13/100.
  • High — Sustainability: Officer compensation ratio scored 21/100.