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Energize Colorado INC

Tax-deductible

Boulder, CO501(c)(3)Community Development EIN 85-1446446Revenue $1.3M in FY2024

On file with the IRSenergizecolorado.com4845 Pearl East Cir Ste 118 Pmb 760, 80301-6112 · Boulder, COTax-exempt since Jul 2020Publicly supported charity — 170(b)(1)(A)(vi)

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Catalyzing change for a more resilient and equitable small-business ecosystem across the state of Colorado. Igniting the transformation of colorado's small-business ecosystem, we bring together innovative thinkers, small-business owners and entrepreneurs, and non-profit and civic partners to collaboratively tackle the biggest challenges facing small businesses. We build and test solutions that empower small businesses for economic growth through education and mentorship, technological innovation, access to capital, and investment in strategic programs creating a more resilient and inclusive economy.

501(c)(3) charity; gifts are tax-deductible.
72¢ of each $1 spent went to programs.
Run by 75 volunteers and 3 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average surplus $361K a year · 24% of revenue · last 5 filings
Worth a look: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
72%
of spending
Fine: 72% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$254K
to officers and key staff · 10% of spending
Top officer’s pay lower than 55% of similar orgs
Looks good: pay to officers and key staff is 10% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
27 mo
of spending, in cash
Plus $9.4M in investments, Pt X · Ln 11–13
Looks good: 27.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $43K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$13.6M
88% of total assets
Concern: liabilities are 88% of assets; over 80%.
Pt X · Ln 26
Independent board members
12
of 12 voting members
Looks good: 12 of 12 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.3M
+95% vs prior year
Spent
$2.6M
To programs
72%
Net assets
$1.8M
By yearFY2020–FY2024
Revenue
$1.3M
FY2024▲ +95%
Tap a bar for its year
Revenue by fiscal year
FY2020$2.6M
FY2021$2.5M
FY2022$400K
FY2023$651K
FY2024$1.3M
Expenses
$2.6M
FY2024▲ +138%
Tap a bar for its year
Expenses by fiscal year
FY2020$263K
FY2021$605K
FY2022$1.1M
FY2023$1.1M
FY2024$2.6M
Net assets
$1.8M
FY2024▼ -42%
Tap a bar for its year
Net assets by fiscal year
FY2020$2.4M
FY2021$4.3M
FY2022$3.6M
FY2023$3.1M
FY2024$1.8M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jul 2020.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

72 cents of each dollar spent went to programs.

Program services 72% · $1.9M Management & general 22% · $561K Fundraising 6% · $163K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

16 people listed on the 990; $254K paid to officers and key staff.

Part VII, Section A · reportable compensation
Bonnie Watson
Chief Executive Officer
$147,024Pt VII · Sec A
Scott Romano
Chief Operations Officer
$107,184Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Bonnie Watson’s $147K as Chief Executive Officer is at the 45th percentile of top reported officer pay among 2832 $1–10M 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 · 3 named individuals · Part VII

NameFY2024FY2023FY2022FY2021
Bonnie Watson$147,024———
Scott Romano$107,184$102,276$87,642$83,729
Wendy Lea—$11,813$34,688—

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 Energize Colorado INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Empowering Colorado small businesses through education, innovation, and access to capital for economic growth.

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Provided by the organization

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1 program · $1.9M · in their own filed words · FY2024
01

Energize colorado's small business lending program is designed to provide flexible and below market-rate loans to historically underinvested entrepreneurs. Loans range between $5,000 and $150,000 with interest rates between 3.6% and 8.25% and terms of up to five years.

$1.9Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2023
Early Milestones ColoradoFY2023$36K
Community First FoundationFY2023$7K
Total grants receivedfrom 2 funders$43K
Grants paid · 1 grant · $12K · 2021–2021
Unitemized GrantFY2021$12,000

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.3M
Ln 12
Fees for servicesLn 2g$865K
Gifts and grantsLn 1h$375K
Investment incomeLn 3$29K
Money outPt IX
$2.6M
Ln 25
Programscol B$1.9M
Managementcol C$561K
Fundraisingcol D$163K
Owns and owesPt X
$1.8M
net assets · Ln 32
Cash and savingsLn 1–2$5.9M
Total assetsLn 16$15.4M
LiabilitiesLn 26$13.6M
PeoplePt VI, VII
16
listed · VII A
PaidVII A2
Voting boardVI 1a12
IndependentVI 1b12
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$375K
Fees for servicesLn 2g$865K
Investment incomeLn 3$29K
Total revenueLn 12$1.3M
Assets in detailPt X, end of year
CashLn 1$5.0M
SavingsLn 2$870K
Cash and savings togetherLn 1–2$5.9M
InvestmentsLn 11–13$9.4M
Total assetsLn 16$15.4M
LiabilitiesLn 26$13.6M
Net assetsLn 32$1.8M
OperationsPt I, VI
EmployeesI 53
VolunteersI 675
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$722K$5.9M
InvestmentsLn 11–13$10.3M$9.4M
Total assetsLn 16$11.0M$15.4M
LiabilitiesLn 26$7.9M$13.6M
Net assetsLn 32$3.1M$1.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$268K$67K$166K$35K
Other salaries and wagesLn 7$301K$145K$148K$8K
Pension plan contributionsLn 8$4K$2K$2K$236
Other employee benefitsLn 9$37K$17K$18K$2K
Payroll taxesLn 10$47K$19K$25K$3K
Legal feesLn 11b$77K$72K$5K
Accounting feesLn 11c$27K$27K
Other fees for servicesLn 11g$57K$15K$33K$8K
Advertising and promotionLn 12$183K$25K$56K$101K
Office expensesLn 13$43K$17K$23K$3K
Information technologyLn 14$61K$23K$34K$4K
Conferences, conventions and meetingsLn 19$20K$5K$15K
InterestLn 20$137K$137K
InsuranceLn 23$6K$6K
Other expenses (24a–d)Ln 24$1.3M$1.3M
All other expensesLn 24e$3K$1K$1K$155
Total functional expensesLn 25$2.6M$1.9M$561K$163K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $1.3M$2.6M−$1.3M$1.8M 990 PDF
FY2023 $651K$1.1M−$439K$3.1M 990 PDF
FY2022 $400K$1.1M−$689K$3.6M 990 PDF
FY2021 $2.5M$605K$1.9M$4.3M 990 PDF
FY2020 $2.6M$263K$2.4M$2.4M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $1,268,713 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $236,833$374,548
I-9 Program service revenuePrior year $414,555$864,848
I-10 Investment incomePrior year $104$29,317
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $651,492$1,268,713
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $497,264$656,656
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $593,024$1,934,749
I-18 Total expensesPrior year $1,090,288$2,591,405
I-19 Revenue less expensesPrior year −$438,796−$1,322,692
Part VI · Governance 12 of 12 board members independent, 1 to look at
VI-1a Voting members of the governing body12
VI-1b Independent voting members12
VI-13 Written whistleblower policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $1,268,713 across 5 lines filed
VIII-1f All other contributions, gifts and grants$374,548
VIII-1h Total contributions, gifts and grants$374,548
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $864,848$864,848
VIII-3 Investment incomeExcluded from tax $29,317$29,317
VIII-12 Total revenueRelated to mission $864,848 · Unrelated business $0 · Excluded from tax $29,317$1,268,713
Part IX · Statement of functional expenses $2,591,405 across 16 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $67,026 · Management $166,477 · Fundraising $34,602$268,105
IX-7 Other salaries and wagesPrograms $145,195 · Management $147,922 · Fundraising $7,747$300,864
IX-8 Pension plan contributionsPrograms $1,540 · Management $2,023 · Fundraising $236$3,799
IX-9 Other employee benefitsPrograms $16,502 · Management $18,458 · Fundraising $1,561$36,521
IX-10 Payroll taxesPrograms $19,202 · Management $25,225 · Fundraising $2,940$47,367
IX-11b Legal feesPrograms $71,728 · Management $5,016$76,744
IX-11c Accounting feesManagement $26,838$26,838
IX-11g Other fees for servicesPrograms $14,832 · Management $33,466 · Fundraising $8,271$56,569
IX-12 Advertising and promotionPrograms $25,069 · Management $56,409 · Fundraising $101,096$182,574
IX-13 Office expensesPrograms $17,259 · Management $22,673 · Fundraising $2,642$42,574
IX-14 Information technologyPrograms $23,016 · Management $34,308 · Fundraising $3,524$60,848
IX-19 Conferences, conventions and meetingsPrograms $4,532 · Management $15,088$19,620
IX-20 InterestPrograms $136,770$136,770
IX-23 InsuranceManagement $5,707$5,707
IX-24 Other expenses (24a–d)Programs $1,323,991$1,323,991
IX-24e All other expensesPrograms $1,019 · Management $1,340 · Fundraising $155$2,514
IX-25 Total functional expensesPrograms $1,867,681 · Management $560,950 · Fundraising $162,774$2,591,405
Part X · Balance sheet $15,449,662 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $354,628$5,026,781
X-2 Savings and temporary cash investmentsStart of year $367,440$870,038
X-3 Pledges and grants receivable$110,000
X-13 Program-related investmentsStart of year $10,259,259$9,442,843
X-16 Total assetsStart of year $10,981,327$15,449,662
X-17 Accounts payable and accrued expensesStart of year $40,645$31,672
X-24 Unsecured notes and loans payableStart of year $7,811,054$13,611,054
X-26 Total liabilitiesStart of year $7,851,699$13,642,726
X-27 Net assets without donor restrictionsStart of year $3,129,628$1,806,936
X-32 Total net assets or fund balancesStart of year $3,129,628$1,806,936
X-33 Total liabilities and net assetsStart of year $10,981,327$15,449,662
Part XI · Reconciliation of net assets $1,806,936 net assets at year end
XI-1 Total revenue$1,268,713
XI-2 Total expenses$2,591,405
XI-3 Revenue less expenses−$1,322,692
XI-4 Net assets at start of year$3,129,628
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,806,936

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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