Rev1 Ventures EIN 31-1658220 Form 990 (PDF) Claim this org

Rev1 Ventures FY2022 filing

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Helps Ohio tech startups grow by providing business incubation, venture development services, and access to investment capital. For fiscal year 2022 it reported $13.0M in revenue, $12.2M in expenses, and $24.2M in net assets.Pt I

Founded
1999
Type
Public charity (501(c)(3)) · Education
Location
Columbus, OH
Website
www.rev1ventures.com
Filings
5 on file (2020–2022)
Revenue
$13.0MFY2022
Expenses
$12.2M
Net assets
$24.2M
People
25
Filings
5
Updates
0
More identity details & actions ⌄
EIN  31-1658220 Public charity (501(c)(3)) Columbus, OH Founded 1999
Form 990 (PDF)
You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →
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Figures match the IRS filing checked 7/21/26 · see original: IRS
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Size
$10–100M
What they do
Helps Ohio tech startups grow by providing business incubation, venture development services, and access to investment capital.
Leadership
Tom Walker · CEO & President · $725K
Money in and out
$13.0M revenue, $12.2M expenses
Bottom line
90% program efficiency
Where the money goes · FY2022
Total revenue
$13.0M
Pt VIII · Ln 12
Total expenses
$12.2M
Pt IX · Ln 25
Net assets
$24.2M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $724K
Where spending went · Part IX cols B–D
Program services $0.90 Management & general $0.10
Program efficiency
90%
of spending reaches programs
Operating runway
21.1mo
months of highly liquid reserves at operating expense rate
Surplus margin
+6%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2022 · Form 990
Revenue
$13.0M
FY2022▲ +9%
Expenses
$12.2M
FY2022▲ +26%
Total assets
$26.8M
FY2022▲ +2%
Total liabilities
$2.6M
FY2022▲ +25%
Total revenue
$13.0M
Pt VIII · Ln 12
Total expenses
$12.2M
Pt IX · Ln 25
Net assets
$24.2M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$724K
Total assetsPt X · Ln 16$26.8M
Program-expense ratioPt IX · col B90%
Voting members of governing bodyPt I · Ln 314
Independent voting membersPt I · Ln 413
Mission & Programs · Part III

Where the work happens

2 program services account for $11.0M of program spending, described in the organization's own filed words · FY2022.
01

Startup studio- REV1 supports start-ups through the first experts leads an ongoing, data-driven process that ensures entrepreneurs develop products people want and companies people need. Top 10 ubi incubator, offering technically focused entrepreneurs flexible office and lab space to help start their companies along side the REV1 team of…

$7.1Mprogram expense
02

Fund management- REV1'S investment team handles the intake, vetting and investment due diligence for multiple investment funds targeting a broad range of high-growth tech startups, including it and health it, biosciences, advanced materials, agribusiness, and advanced and alternative energy.

$3.9Mprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CRev1 Ventures
EINHdr · item D31-1658220
Principal addressHdr · item CColumbus, OH
WebsiteHdr · item Jwww.rev1ventures.com
Year of formationHdr · item L1999
State of legal domicileHdr · item MOH
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEducation (B90)
Ruling yearIRS BMFAug 2000

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a14
Independent voting membersPt VI · Ln 1b13
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
CEO & President
$725,000Pt VII · Sec A
EVP, Investment Funds
$319,949Pt VII · Sec A
Evp,investments/Venture Acceleration
$301,795Pt VII · Sec A
Chief Financial Officer
$288,878Pt VII · Sec A
EVP, Chief Operations Officer
$261,000Pt VII · Sec A
Chief Business Development Officer
$240,156Pt VII · Sec A
Former Key Employee
$209,000Pt VII · Sec A
Managing Dir,market Intelligence
$182,800Pt VII · Sec A

Tom Walker’s $740K as CEO & President is at the 97th percentile of top reported officer pay among 3682 $10–100M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2023FY2022FY2021FY2020
Tom Walker$740,000$725,000$637,374$561,817
Ryan Helon$283,948$319,949$317,613$305,625
Kristy Campbell$308,948
Wayne Embree$287,205$301,795$308,582$299,605
David Dillman$295,184$288,878$296,732$285,846
Kristina Campbell$261,000$244,006$239,653
Mike McCann$100,854$240,156$209,707$201,509
John Schroepfer$226,592

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Rev1 Ventures executive salaries →

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Statement of Revenue

Part VIII
Contributions & grants$11.1M · 86%
Program service revenue$2.5M · 19%
Contributions & grants86%$11.1M
Program service revenue19%$2.5M
— government grantsLn 1e$9.2M
Total revenueLn 12$13.0M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.90 Management & general $0.10
Program services90%$11.0M
Management & general10%$1.3M
Total functional expensesLn 25$12.2M

Balance Sheet

Part X · end of year
CashLn 1$5.4M
Total assetsLn 16$26.8M
Total liabilitiesLn 26$2.6M
Total net assetsLn 32$24.2M
Months of cash on handcomputed5.3

Financial Metrics

Form 990 · FY2022 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $21.6M · Operating expenses/yr $12.2M
21.1 months
Where the money goes
Program services
Program services $11.0M · Total expenses $12.2M
90%
Management & General
Management & general $1.3M · Total expenses $12.2M
10%
Fundraising
Fundraising $0 · Total expenses $12.2M
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $933K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $11.1M · Total revenue $13.0M
86%
Government reliance
Government grants $9.2M · Total revenue $13.0M
71%
Earned-income share
Program service revenue $2.5M · Total revenue $13.0M
19%
Investment reliance
Investment income $-606K · Total revenue $13.0M
-5%
Program self-sufficiency
Program service revenue $2.5M · Total expenses $12.2M
20%
Growth & trend
Revenue growth (YoY)
This year $13.0M · Prior year $11.8M
+9%
Net-asset trend (YoY)
End of year $24.2M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $13.0M · Expenses $12.2M
+6%
Liabilities-to-Assets
Total liabilities — · Total assets $26.8M
Net-asset ratio
Net assets $24.2M · Total assets $26.8M
90%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $9.3M · Other securities (Pt X, ln 12) $6.9M · Total assets (Pt X, ln 16) $26.8M
60%
People & payroll
Highest Reported Total Compensation
Individual Tom Walker · Reported title CEO & PRESIDENT · Highest reported compensation $725K · Total expenses $12.2M
6%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $5.2M · Total expenses $12.2M
43%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 90%
Overhead ratio 10%
Fundraising cost ratio 0%
Revenue growth 9%
Accounting fee ratio 0.3%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2024
One ColumbusFY2024$200K
Total grants receivedfrom 3 funders$228K
See all 3 funders →
Grants paid · 26 grants · $3.0M · 2020–2023
Neural EarFY2023$150,000
MyoptechFY2023$150,000
Zed DigitalFY2023$50,000
SkelowearFY2023$50,000
Color Coded LabsFY2023$50,000
Zvelt Therapeutics INCFY2022$300,000
Hdo HealthFY2022$150,000
Games That Move YouFY2022$150,000
Enlighten Mobility LLCFY2022$150,000
Hyperpath SolutionsFY2022$140,000
Digital Story Therapies INCFY2022$110,000
EquitekFY2022$100,000
Rednox INCFY2022$50,000
Color Coded LabsFY2022$50,000
Protein Capture ScienceFY2021$150,000
Rescon TechnologiesFY2021$148,500
Core Quantum TechnologiesFY2021$131,110
FleriFY2021$100,000
See all 26 grants →

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$11.9M revenue · ⤓ 990 PDF
FY2023$11.1M revenue · ⤓ 990 PDF
FY2022$13.0M revenue · viewing · ⤓ 990 PDF
FY2021$11.8M revenue · ⤓ 990 PDF
FY2020$10.4M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2022IRS
Classification, formation year, addressIRS Business Master File
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