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Elevate Quantum

EIN 93-1969790 · Denver, CO

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthGood71 out of 100GovernanceStrong100 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

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.

Income
$7.1 million
Spending
$2.5 million
Spent on programs
85%
Reserves
1.3 months of spending
Largest source of income
government grants, 97%
Employees
5
Volunteers
14
Highest pay
$225,815, chief executive officer

Source: Form 990 for the year ending September 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Good: 71 out of 100. Higher than 48% of charities in its peer group (community improvement, $1m to $10m).

  • Reserves

    10 of 35

    Spendable reserves would cover 1.3 months of spending.

  • Debt

    16 of 20

    It owes 27% of what it owns.

  • Living within its means

    15 of 15

    Income exceeded spending by 64% of income.

  • Income trend

    15 of 15

    Income rose 1299% on the year before.

  • Spending floor

    15 of 15

    85% of spending went to programs and raising each dollar of donations cost 0 cents.

Source: Form 990 for the year ending September 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Strong: 100 out of 100. Higher than 68% of charities in its peer group (community improvement, $1m to $10m).

  • Independent board

    25 of 25

    11 of 13 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    8 of 8

    Has a written whistleblower policy.

  • Record keeping policy

    7 of 7

    Has a written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    5 of 5

    Sets its chief executive's pay through independent review and comparison.

  • Independent check of accounts

    15 of 15

    Its accounts were audited by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending September 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (5)
  1. $948,329 spent. COMMERCIALIZATION LAB - LOCATED IN ARVADA, COLORADO, AT THE QUANTUM COMMONS CAMPUS, THE ORGANIZATION'S COMMERCIALIZATION LAB OFFERS CUTTING EDGE, SHARED USE EQUIPMENT AND A VARIETY OF LABS, OFFICES, AND SUITES FOR LEASE. THIS LAB ALLOWS ACCESS TO THE UNITED STATES' FIRST OPEN ACCESS, MODULAR, QUANTUM COMPUTER IN ADDITION TO A VARIETY OF TOP OF THE LINE EQUIPMENT AND SERVICE OFFERINGS INCLUDING, BUT NOT LIMITED TO CRYOGENIC TESTBEDS, ATOMIC CLOCKS, ENVIRONMENTAL TESTING, PROTOTYPING EQUIPMENT, TEST AND MEASUREMENT EQUIPMENT, AND MUCH MORE.
  2. $502,279 spent. PHOTONIC INTEGRATED CIRCUIT (PIC) FABRICATION - LOCATED IN ARVADA, COLORADO, AT THE QUANTUM COMMONS CAMPUS, THE ORGANIZATION'S PICFAB FOCUSES ON HIGH-MIX, LOW-VOLUME, RAPID-TURN, FABRICATION OF PICS. PICS ALLOW LIGHT (PHOTONS) INSTEAD OF ELECTRONS TO CARRY INFORMATION, ENABLING HIGH-BANDWIDTH, LOW-LOSS, ENERGY-EFFICIENT CIRCUITS FOR QUANTUM, SENSING, COMMUNICATIONS, AND MORE. THE ORGANIZATION'S PICFAB OPERATES WITH A HOST OF QUANTUM RELEVANT MATERIALS (SILICON NITRIDE, BARIUM TITANATE, TANTALUM PENTOXIDE, THIN-FILM LITHIUM NIOBATE) SERVING THE UNIQUE NEEDS OF THE INDUSTRY. IT ALSO OPERATES WITH LEAD TIMES OF 3-4 WEEKS INSTEAD OF THE LEAD TIMES EXPERIENCED BY QUANTUM COMPANIES TODAY OF 3-6 MONTHS OR MORE.
  3. $279,352 spent. WORKFORCE DEVELOPMENT - SPANNING COLORADO AND NEW MEXICO, THE ORGANIZATION'S WORKFORCE DEVELOPMENT EFFORTS INCLUDE NOT JUST ACTIVATING THE STAKEHOLDERS IN THE QUANTUM WORKFORCE DEVELOPMENT ECOSYSTEM (EXECUTING ON PROJECTS WITH PARTNERS THAT HAVE ALREADY REACHED HUNDREDS OF LEARNERS), BUT ALSO INCLUDES EXECUTING ON ON-PREMISES TRAINING PROGRAMS LEVERAGING THE EQUIPMENT AT THE COMMERCIALIZATION LAB. THE ORGANIZATION'S TRAINING PROGRAMS WILL BE FOCUSED ON BUILDING THE NEXT GENERATION OF QUANTUM TECHNICIAN TALENT WITH INITIAL PROGRAMMING CENTERED ON THE CRYOGENIC TECHNICIAN WORKFORCE.
  4. $266,404 spent. CONSORTIUM ACTIVATION AND ENGAGEMENT - THE ORGANIZATION IS RESPONSIBLE FOR THE MANAGEMENT OF CONSORTIUM TO FACILITATE CROSS COLLABORATION BETWEEN A DIVERSE SET OF STAKEHOLDERS. THIS INCLUDES BUILDING OUT STRATEGIC CROSS-BORDER COLLABORATIONS, PARTNERING ON FUNDING APPLICATIONS, AND ACTIVATING THE REGION. AS PART OF THIS, THE ORGANIZATION OPERATES THREE ADVISORY BOARDS (INDUSTRY, SCIENCE, AND WORKFORCE) AS WELL AS A WORKFORCE COLLABORATIVE. THE ORGANIZATION IS ALSO INVOLVED IN ACTIVATING STATE AND LOCAL GOVERNMENT OFFICIALS, SUPPORTING COMPANIES IN THE REGION TO ACCESS FUNDING TO GET THEIR BUSINESSES OFF THE GROUND, AND FACILITATING AT LEAST ONE LARGE CONVENING OF ECOSYSTEM PARTNERS EACH YEAR.
  5. $151,335 spent. ADVANCED QUANTUM PACKAGING - LOCATED IN ALBUQUERQUE, NEW MEXICO, THE ORGANIZATION'S ADVANCED QUANTUM PACKAGING OPERATIONS WILL FOCUS ON HIGH-MIX, LOW- TO MEDIUM-VOLUME PRODUCTION, SERVING THE NEEDS OF QUANTUM, QUANTUM ADJACENT, AND ADVANCED PHOTONICS COMPANIES. THE ORGANIZATION'S PACKAGING OPERATIONS WILL BE INITIALLY FOCUSED ON CHIP AND PHOTONICS-BASED TECHNIQUES (ADVANCED WIRE-BONDING, ULTRA-LOW-LOSS, FIBER-TO-CHIP CONNECTORIZATION, FLIP CHIP, PRECISION DIE ATTACH, WORLD-CLASS METROLOGY, AND MUCH MORE). THROUGH THE ORGANIZATION'S PARTNERSHIP WITH SANDIA NATIONAL LABORATORIES, IT WILL SERVE AS THE BRIDGE BETWEEN BREAKTHROUGH RESEARCH AND HIGHVOLUME FOUNDRIES TO DE-RISK, SCALE-UP, AND PREPARE TECH FOR DEFENSE AND COMMERCIAL PRODUCTION.

Source: Form 990 for the year ending September 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated October 13, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending September 2025.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since February 2024.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 21, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.