Overview
What is Elevate Ventures Inc?
Elevate Ventures Inc, established in 2011, is a venture capital organization situated in Indianapolis, Indiana. Its primary mission is to strengthen the innovation and entrepreneurial landscape of Indiana by providing capital support to high-growth startups within the state. Through various investment programs such as fund-of-fund investments, direct investments, grants, and matching programs, Elevate Ventures has invested over $152.3 million in 507 startups since its inception, which has in turn attracted over $2.1 billion in co-investment from numerous investors. The organization's portfolio companies have created over 2,900 jobs, contributing significantly to the state's economy. Elevate Ventures' investment focus is on cross-sector innovative companies with a minimum targeted market size of $500 million, aiming to foster a culture of sustainability and growth in the Indiana startup ecosystem.
Official website here: www.elevateventures.com
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 96% (Four-Star out of Four Stars)
Elevate Ventures Inc has achieved a notable Four-Star rating on Charity Navigator, reflecting a strong commitment to accountability and finance. The charity's overall score is driven by its impressive performance in financial management, demonstrating a high level of transparency and governance. The organization boasts a well-structured board with 75% independent members and has implemented robust policies, including conflict of interest and whistleblower protections.
The financial metrics are particularly strong, with a program expense ratio of 78.84%, indicating that a significant portion of its resources is allocated directly to its mission-related activities. Additionally, the organization has no recorded material diversions of assets, which underscores its integrity in handling donations. The audit and oversight measures in place further enhance its reliability, as evidenced by perfect scores in this area.
While the strengths of Elevate Ventures Inc are compelling, it is essential for potential supporters to continue monitoring ongoing performance and impact metrics to ensure the charity aligns with their philanthropic goals. Overall, the organization's high rating positions it as a trustworthy option for donors seeking to make a meaningful contribution.
This AI summary has been generated from information found on Charity Navigator.
Is Elevate Ventures Inc legitimate?
Elevate Ventures Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Elevate Ventures Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $1,392,625
Professional Fundraising Fees: $0
Other Salaries and Wages: $2,317,162
For more financial information, click here
Official website here: www.elevateventures.com
What is the mission statement of Elevate Ventures Inc?
Elevate Ventures Inc is dedicated to establishing and nurturing sustainable innovation and entrepreneurship environments across various regions in Indiana. Their primary goal is to identify and support high-potential, high-growth businesses that show promise in multiple sectors, with a minimum target market value (TAM) of $500 million. They invest in these companies at the pre-seed, seed, and early stages, aiming to generate returns for their stakeholders while fostering the development of these businesses.
Official website here: www.elevateventures.com
Who is the CEO of Elevate Ventures Inc?
Unavailable The CEO's salary of Elevate Ventures Inc is $137,500 and their total compensation is $144,788.
Official website here: www.elevateventures.com
What is the revenue of Elevate Ventures Inc?
Elevate Ventures Inc's revenue in 2022 was $6,491,355.
Official website here: www.elevateventures.com
Who are the executives of Elevate Ventures Inc and what are their salaries?
The average compensation at Elevate Ventures Inc during 2022 was $109,111. There are 34 employees and 6 volunteers at Elevate Ventures Inc.
Here are 16 key members and their salaries (Elevate Ventures Inc's CEO's salary is $137,500 and their total compensation is $144,788):
- Compensation: $137,500
- Related: $0
- Other: $7,288
- Compensation: $285,000
- Related: $0
- Other: $13,257
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $259,167
- Related: $0
- Other: $32,633
- Compensation: $491,032
- Related: $0
- Other: $9,054
- Compensation: $143,977
- Related: $0
- Other: $13,717
- Compensation: $207,708
- Related: $0
- Other: $34,716
- Compensation: $231,583
- Related: $0
- Other: $35,089
- Compensation: $185,000
- Related: $0
- Other: $34,033
- Compensation: $186,250
- Related: $0
- Other: $28,437
- Compensation: $161,000
- Related: $0
- Other: $35,466
Official website here: www.elevateventures.com
Where can I find the form 990 for Elevate Ventures Inc?
Elevate Ventures Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.elevateventures.com
Learn more at the official website: www.elevateventures.com
Mission Statement of Elevate Ventures Inc
Elevate Ventures, as a venture capital organization, is committed to establishing and nurturing innovation and entrepreneurship cultures across various regions in Indiana. Their primary objective is to identify and invest in high-growth, high-potential businesses that operate in diverse sectors. These businesses must possess a minimum Total Addressable Market (TAM) of $500 million and are typically at the pre-seed, seed, or early stages of development. Through their investments, Elevate Ventures aims to generate returns for their stakeholders while promoting sustainable business growth. The organization's mission is to foster an environment that encourages innovation and entrepreneurship, ultimately bolstering Indiana's economic landscape.
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Impact
October, 2024
Elevate Ventures Inc significantly impacts the entrepreneurial landscape across Indiana by driving sustainable innovation and fostering high-growth businesses. Since its founding in 2011, Elevate Ventures has directed $152.3 million into 507 startups, creating a robust ecosystem that leverages an impressive $2.1 billion in private co-investment. Its strategic investment focuses on high-potential companies with a minimum $500 million Total Addressable Market (TAM), targeting pre-seed, seed, and early-stage ventures.
The organization plays a pivotal role in supporting Indiana's economic future and innovation culture, working closely with local entrepreneurs and investors. Elevate Ventures not only manages direct investment funds but also collaborates with the Indiana Economic Development Corporation (IEDC) to enhance capital accessibility for budding entrepreneurs. In recent years, Elevate Ventures has been recognized as the most active venture capital firm in the Great Lakes Region, further solidifying Indiana's position as a hub for innovation.
Elevate’s targeted funding initiatives, such as the 21 Fund and the Angel Funds, cater to various stages of business development, ensuring tailored support for startups. The impact of Elevate Ventures extends beyond financial investment; its portfolio companies have generated nearly 2,904 jobs, with an average salary of $88,000, which is significantly above the median household income in Indiana.
By nurturing the local startup ecosystem, Elevate Ventures helps to cultivate a community of vision and innovation, essential for Indiana's journey toward becoming a leading state for entrepreneurship and economic development.
This information is meant to be a general summary of Elevate Ventures Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $183,539
- Program Service Revenue: $4,600,980
- Gross Receipts: $7,349,538
Assets and Liabilities:
- Total Assets: $13,172,198
- Total Liabilities: $2,846,213
- Net Assets: $10,325,985
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
IEDC State Contracts
Revenue
$4,470,729
Management Fees
Revenue
$76,250
SPONSORSHIP REVENUE
Revenue
$54,001
Organization Details
Founding Year
2010
Phone
(317) 252-0258Main Address
50 East 91st St 213, Indianapolis, IN, 46240
Website
www.elevateventures.comNTEE Category
Code: S30 - Community improvement
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