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
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.
Here 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
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):
- Christopher Lamothe (Chief Executive Officer Through July 2022)
- Phillip Lodato (General Counsel And Secretary) [Trustee/Director]
- Barbara Uggen-Davis (Chief Financial Officer)
- Jacob Schpok (Partner)
- Erica Schweyer (Chief Operating Officer)
- Landon Young (Entrepreneur-In-Residence)
- Mark Gramelspacher (Entrepreneur-In-Residence)
- Nicholas Kuhn (Entrepreneur-In-Residence)
- Ting Gootee (Chief Investment Officer Through April 2022)
- Christopher Day (Chief Executive Officer As Of July 2022) [Trustee/Director]
- Robert Myer (Board Chair) [Trustee/Director]
- Barbie Wentworth (Board Member) [Trustee/Director]
- Don Densborn (Board Member) [Trustee/Director]
- John Sampson (Board Member) [Trustee/Director]
- Larry Garatoni (Board Member) [Trustee/Director]
- Steven Martin (Board Member) [Trustee/Director]
Official website here: www.elevateventures.com
Where can I find the form 990 for Elevate Ventures Inc?
The 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.
Impact
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.
Thursday, August 15, 2024
Elevate Ventures Inc's impact can be seen in its role as a pivotal player in the growth and development of innovative businesses in Indiana. By investing in high-potential startups at various stages of growth, Elevate Ventures contributes significantly to fostering a culture of entrepreneurship and innovation across the state. Through its diverse investment programs, Elevate Ventures has injected substantial capital into over 500 startups, which in turn has leveraged billions in private co-investment and created thousands of jobs with above-average salaries.
Moreover, Elevate Ventures' efforts extend beyond merely financial support; the organization actively collaborates with entrepreneurial partners statewide to further bolster Indiana's standing as a hub for innovation. By nurturing and empowering startups, Elevate Ventures plays a vital role in driving economic growth, creating job opportunities, and positioning Indiana as a competitive player in the global innovation landscape.
Overall, Elevate Ventures' consistent ranking as one of the most active venture capital firms in the Great Lakes Region underscores its significant impact on the entrepreneurial ecosystem in Indiana. Through its strategic investments and comprehensive support for startups, Elevate Ventures Inc is instrumental in propelling the state's innovation-driven economy forward.
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.
- Assets and Liabilities:
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) 252-0258
Main Address
50 East 91st St 213, Indianapolis, IN, 46240
Website
www.elevateventures.com
NTEE Category
Code: S30 - Community improvement
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