Supports Colorado Springs entrepreneurs by providing educational resources, mentorship, low-interest loans, and shared workspace to help their small businesses grow and thrive.
Supports Colorado Springs entrepreneurs by providing educational resources, mentorship, low-interest loans, and shared workspace to help their small businesses grow and thrive.
For fiscal year 2025 it reported $833K in revenue, $843K in expenses, and $4.6M in net assets.Pt I
Where the money goes · FY2025
Total revenue
$833K
Pt VIII · Ln 12
Total expenses
$843K
Pt IX · Ln 25
Net assets
$4.6M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$10K
Where spending went · Part IX cols B–D
81%
16%
Program services $0.81 Management & general $0.16 Fundraising $0.03
Program efficiency
81%
of spending reaches programs▼ -4% vs prior filing year
Operating runway
36.7mo
months of highly liquid reserves at operating expense rate▼ -28% vs prior filing year
Surplus margin
-1%
revenue over expenses, this year▼ -102% vs prior filing year
Summary of the Filing
Part I · fiscal year 2025 · Form 990
Revenue
$833K
FY2025▼ -61%
$3.0M$1.5M$0
FY2020FY2025
Expenses
$843K
FY2025▲ +5%
$2.0M$990K$0
FY2020FY2025
Total assets
$5.1M
FY2025▼ -3%
$5.3M$2.6M$0
FY2020FY2025
Total liabilities
$554K
FY2025▼ -19%
$2.2M$1.1M$0
FY2020FY2025
Total revenue
$833K
Pt VIII · Ln 12
Total expenses
$843K
Pt IX · Ln 25
Net assets
$4.6M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$10K
Total assetsPt X · Ln 16$5.1M
Program-expense ratioPt IX · col B81%
Voting members of governing bodyPt I · Ln 37
Independent voting membersPt I · Ln 47
Mission & Programs · Part III
Where the work happens
2 program services account for $683K of program spending, described in the organization's own filed words · FY2025.
01
Accelerator
offers multiple rigorous holistic 12-week programs to support founders at every stage for emerging technology startups, from start to scale. During 2025, XI successfully ran a spring and fall accelerator program and served 17 startups.
$361Kprogram expense
02
Survive & Thrive
provides funding, mentorship, and programming for Colorado Springs-based entrepreneurs. During 2025, XI successfully ran 2 Survive & Thrive cohorts and served 28 small businesses. During the 8-week program, XI provides small business access to low interest loans, mentorship, and curated curriculum.
Max Cupp’s $100K as Executive Director
is at the 73rd percentile of top reported officer pay among 1711 $100K–1M community development 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 · 4 named individuals · Part VII
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.
Individual Max Cupp · Reported title Executive Director · Highest reported compensation $100K · Total expenses $843K
12%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $480K · Total expenses $843K
57%
Peer comparison
Same NTEE category, revenue band, and state where available. Descriptive — not a grade.
Metric
This org
Peer median
Percentile
Program ratio
81%
—
—
Overhead ratio
16%
—
—
Fundraising cost ratio
4%
—
—
Revenue growth
-61%
—
—
Legal fee ratio
1%
—
—
Accounting fee ratio
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.
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Sources
Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2025IRS
Classification, formation year, addressIRS Business Master File
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