Nonprofit · EIN 93-1969790
ELEVATE QUANTUM
Tax-exempt · DENVER, CO 80221
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| September 30, 2025 | 990 | $7,142,294 | $2,541,563 | $4,600,731 | $6,492,958 | $1,776,475 | $4,716,483 |
| September 30, 2024 | 990 | $510,520 | $490,320 | $20,200 | $125,560 | $47,366 | $78,194 |
Financial details: 990 for the year ended September 30, 2025
Revenue
- Contributions, gifts and grants
- $7,132,354
- of which government grants
- $6,898,049
- Program service revenue
- $9,940
- Investment income
- $0
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $361,967
- Compensation of officers, directors and key employees
- $371,250
- Other salaries and wages
- $487,112
- Salaries, compensation and benefits (total)
- $1,013,965
- Professional fundraising fees
- $0
- Legal fees
- $18,930
- Accounting fees
- $77,574
- Occupancy
- $4,127
- Travel
- $42,622
- Program services (functional)
- $2,147,699
- Management and general (functional)
- $393,864
Balance sheet and other
- Total assets, start of year
- $125,560
- Total assets, end of year
- $6,492,958
- Total liabilities, end of year
- $1,776,475
- Net assets, end of year
- $4,716,483
- Land, buildings and equipment
- $4,432,682
- Net assets without donor restrictions
- $4,716,483
- Gross receipts
- $7,142,294
- Employees
- 5
- Volunteers
- 14
- Year formed
- 2023
- State of legal domicile
- CO
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended September 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| ZACHARY YERUSHALMI | CHIEF EXECUTIVE OFFICER Trustee or director, Officer | 40 | $225,000 | $815 |
| JESSI OLSEN | CHIEF FINANCIAL OFFICER Officer | 40 | $45,000 | $775 |
| DAN CARUSO | DIRECTOR Trustee or director | 3 | $0 | $0 |
| ALEX GREENBERG | DIRECTOR Trustee or director | 3 | $0 | $0 |
| BROOKS JOHNSON | DIRECTOR (UNTIL 7/1/25) Trustee or director | 3 | $0 | $0 |
| WENDY LEA | DIRECTOR Trustee or director | 3 | $0 | $0 |
| EVE LIEBERMAN | DIRECTOR Trustee or director | 3 | $0 | $0 |
| ANTHONY NEAL-GRAVES | DIRECTOR Trustee or director | 3 | $0 | $0 |
| MASSIMO RUZZENE | DIRECTOR Trustee or director | 3 | $0 | $0 |
| JESUS SALAZAR | DIRECTOR Trustee or director | 3 | $0 | $0 |
| RENO SANCHEZ | DIRECTOR (AS OF 7/1/25) Trustee or director | 3 | $0 | $0 |
| DR COLLEEN SIMPSON | DIRECTOR Trustee or director | 3 | $0 | $0 |
| DR MARLOU SLOT | DIRECTOR (UNTIL 7/1/25) Trustee or director | 3 | $0 | $0 |
| STEPHANIE TOMPKINS | DIRECTOR (AS OF 7/1/25) Trustee or director | 3 | $0 | $0 |
| DR MATTHIAS TROYER | DIRECTOR Trustee or director | 3 | $0 | $0 |
1 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| CORBAN TILLEMANN-DICK | CHAIR OF THE BOARD Trustee or director, Officer | 3 | $0 |
990 for the year ended September 30, 2024: 12 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| DAN CARUSO | DIRECTOR Trustee or director | 5 | $0 |
| BROOKS JOHNSON | DIRECTOR Trustee or director | 5 | $0 |
| WENDY LEA | DIRECTOR Trustee or director | 5 | $0 |
| ANTHONY NEAL-GRAVES | DIRECTOR Trustee or director | 5 | $0 |
| MASSIMO RUZZENE | DIRECTOR Trustee or director | 5 | $0 |
| JESUS SALAZAR | DIRECTOR Trustee or director | 5 | $0 |
| DR COLLEEN SIMPSON | DIRECTOR Trustee or director | 5 | $0 |
| DR MARLOU SLOT | DIRECTOR Trustee or director | 5 | $0 |
| DR MATTHIAS TROYER | DIRECTOR Trustee or director | 5 | $0 |
| ALEX GREENBERG | EX OFFICIO DIRECTOR Trustee or director | 5 | $0 |
| EVE LIEBERMAN | EX OFFICIO DIRECTOR Trustee or director | 5 | $0 |
| CORBAN TILLEMANN-DICK | CHAIR & DIRECTOR Trustee or director, Officer | 5 | $0 |
Address and contacts
- Address (IRS master file)
- 7100 BROADWAY STE 1Q, DENVER, CO 80221-2917
- In care of
- % ELEVATE QUANTUM
- Mailing address (990-N for 2023)
- 7100 N Broadway, Denver CO 80221
- Principal officer (990 for 2024)
- JESSI OLSEN, 7100 N BROADWAY 1Q, DENVER, CO 80221
- Principal officer (990-N for 2023)
- Zachary Yerushalmi, 3939 W 46th Ave, Denver CO 80212
- Signed the 990
- JESSI OLSEN, CHIEF EXECUTIVE OFFICER
- Phone
- (203) 984-5632
- Website
- www.elevatequantum.org
- Return prepared by
- RSM US LLP
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 accomplishments
- 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.Expenses $948,329 · revenue $9,940
- 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.Expenses $502,279 · grants $361,967
- 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.Expenses $279,352
- 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.Expenses $266,404
- 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.Expenses $151,335
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in September, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | September 30, 2026 | February 16, 2027 | Not due yet |
| 2024 | September 30, 2025 | February 17, 2026 | 990 on file |
| 2023 | September 30, 2024 | February 18, 2025 | 990 on file |
IRS record
- EIN
- 93-1969790
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2024
- Accounting year ends
- September
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S30)
- Assets (IRS master file)
- $6,492,958
- Income (IRS master file)
- $7,142,294
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | September 2025 | $7,142,294 | $2,541,563 | $6,492,958 | XML |
| 990 | September 2024 | $510,520 | $490,320 | $125,560 | XML |
| 990-N for 2023 Officer: Zachary Yerushalmi | December 31, 2023 | ≤ $50,000 receipts | – | – | e-Postcard |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 93-1969790).
Questions about ELEVATE QUANTUM
- What is the EIN of ELEVATE QUANTUM?
- The employer identification number (EIN) of ELEVATE QUANTUM is 93-1969790.
- Is ELEVATE QUANTUM tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2024.
- Are donations to ELEVATE QUANTUM tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does ELEVATE QUANTUM file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of ELEVATE QUANTUM due?
- The return for tax year 2025 (the year ending September 30, 2026) is due February 16, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did ELEVATE QUANTUM last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended September 2025.
- Who is the principal officer of ELEVATE QUANTUM?
- The 990 for the year ended September 30, 2025 names JESSI OLSEN.
- Who are the officers and directors of ELEVATE QUANTUM?
- The 990 for the year ended September 30, 2025 lists 16 people; 2 received compensation from the organization, the highest $225,000 (ZACHARY YERUSHALMI, CHIEF EXECUTIVE OFFICER).
- How much revenue does ELEVATE QUANTUM have?
- On its 990 for the year ended September 30, 2025 it reported revenue of $7,142,294, expenses of $2,541,563 and total assets of $6,492,958 at year end.
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All nonprofits in DENVER · Colorado · Community improvement and capacity building