ELEVATE QUANTUM

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2023

Legal Domicile

Principal Officer

JESSI OLSEN

Phone

7205154622

Tax Period

2024-01-01 to 2024-09-30

ELEVATE QUANTUM, founded in 2023, is a small nonprofit in the Community Improvement sector that reported $511K in total revenue in fiscal year 2024. Expenses of $490K left a modest 4% surplus.

Mission

ELEVATE QUANTUM'S EXEMPT PURPOSE IS TO UNITE COLORADO, NEW MEXICO, AND WYOMING TO ESTABLISH THE MOUNTAIN WEST AS A GLOBAL LEADER IN QUANTUM DEVELOPMENT. THEIR MISSION FOCUSES ON ENHANCING U.S. ECONOMIC AND NATIONAL SECURITY BY FOSTERING REGIONAL COLLABORATION AND STRENGTHENING ENGAGEMENT AMONG STAKEHOLDERS.

Program Service Accomplishments

Program 1

Expenses: $480,000

THE ORGANIZATION PRESENTLY ENGAGES IN ECONOMIC DEVELOPMENT ACTIVITY FOCUSED ON QUANTUM INFORMATION SCIENCE AND TECHNOLOGY (QIST) THROUGH ITS OFFICERS AND DIRECTORS, AS WELL AS VIA A CONSORTIUM OF...

THE ORGANIZATION PRESENTLY ENGAGES IN ECONOMIC DEVELOPMENT ACTIVITY FOCUSED ON QUANTUM INFORMATION SCIENCE AND TECHNOLOGY (QIST) THROUGH ITS OFFICERS AND DIRECTORS, AS WELL AS VIA A CONSORTIUM OF REPRESENTATIVES FROM 72 QIST-FOCUSED ORGANIZATIONS THAT INCLUDES 17 INDUSTRY GROUPS/FIRMS, 13 INSTITUTIONS OF HIGHER EDUCATION, 17 ECONOMIC DEVELOPMENT ORGANIZATIONS, 14 LABOR AND WORKFORCE ORGANIZATIONS, 4 STATE AND LOCAL GOVERNMENTS, AND 7 OTHERS INCLUDING 4 FEDERAL OR NATIONAL LABORATORIES. THE ORGANIZATION WILL FOCUS UPON APPLYING FOR FUNDING UNDER PHASE 2 OF THE TECH HUBS PROGRAM (THE PROGRAM) ADMINISTERED BY THE U.S. ECONOMIC DEVELOPMENT ADMINISTRATION OF THE U.S. DEPARTMENT OF COMMERCE. ACTIVITIES WILL BE FUNDED THROUGH A COMBINATION OF GOVERNMENT GRANTS AND PRIVATE DONATIONS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $510,141

Program Service Revenue $0

Investment Income $0

Other Revenue $379

TOTAL REVENUE $510,520

Expense Breakdown

Grants Paid $0

Salaries & Benefits $168,750

Fundraising Expenses $0

Program Expenses $480,000

Other Expenses $321,570

TOTAL EXPENSES $490,320

Year-over-Year Comparison

	2024	2023	Change
Revenue	$510,520	N/A	N/A
Expenses	$490,320	N/A	N/A
Net Income	$20,200	$0	N/A

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAN CARUSO	DIRECTOR	5.00	Director	$0	$0	$0
BROOKS JOHNSON	DIRECTOR	5.00	Director	$0	$0	$0
WENDY LEA	DIRECTOR	5.00	Director	$0	$0	$0
ANTHONY NEAL-GRAVES	DIRECTOR	5.00	Director	$0	$0	$0
MASSIMO RUZZENE	DIRECTOR	5.00	Director	$0	$0	$0
JESUS SALAZAR	DIRECTOR	5.00	Director	$0	$0	$0
DR COLLEEN SIMPSON	DIRECTOR	5.00	Director	$0	$0	$0
DR MARLOU SLOT	DIRECTOR	5.00	Director	$0	$0	$0
DR MATTHIAS TROYER	DIRECTOR	5.00	Director	$0	$0	$0
ALEX GREENBERG	EX OFFICIO DIRECTOR	5.00	Director	$0	$0	$0
EVE LIEBERMAN	EX OFFICIO DIRECTOR	5.00	Director	$0	$0	$0
CORBAN TILLEMANN-DICK	CHAIR & DIRECTOR	5.00	Officer Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$510,520	$490,320	$125,560	$20,200