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Nonprofiteer
← VENTURE MENTORING TEAM INC

Form 990 for tax year 2024

Filed by VENTURE MENTORING TEAM INC.

Totals

Total revenue
$263,036
Total expenses
$193,430
Contributions and grants received
$175,100
Grants paid
$0
Program service revenue
$79,700
Investment income
$8,236
Other revenue
$0
Total assets, end of year
$276,315
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$276,315
Program services expenses (Part IX)
$189,273
Management and general expenses
$4,157
Fundraising expenses
$0
Program service expenses (Part III)
$189,273

Program services were 97.9% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $150,000

  • 1f · All other contributions, gifts and grants

    $25,100

  • 2a · Program service revenue: MENTOR TRAINING

    total $79,700 · related or exempt $79,700

  • 3 · Investment income

    total $8,236 · excluded $8,236

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $136,630 · program services $136,630

  • 10 · Payroll taxes

    total $9,941 · program services $9,941

  • 11a · Fees: management

    total $9,400 · program services $9,400

  • 11b · Fees: legal

    total $138 · program services $138

  • 11g · Fees: other

    total $592 · program services $592

  • 13 · Office expenses

    total $147 · program services $147

  • 14 · Information technology

    total $4,348 · program services $4,348

  • 19 · Conferences, conventions and meetings

    total $29,356 · program services $27,131 · management and general $2,225

  • 23 · Insurance

    total $1,932 · management and general $1,932

  • 24a · Other expenses: BACKGROUND CHECKS

    total $946 · program services $946

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,687 · end of year $18,611

  • 2 · Savings and temporary cash investments

    beginning of year $201,022 · end of year $257,704

  • 27 · Net assets without donor restrictions

    beginning of year $206,709 · end of year $276,315

Mission and programs · 2024

Mission

VMT CONNECTS ENTREPRENEURS WITH EXPERIENCED MENTORS TO SUPPORT THEIR BUSINESS GROWTH AND DEVELOPMENT. OUR TEAM OF OVER 250 CERTIFIED VOLUNTEER MENTORS OPERATES UNDER A STRICT CODE OF CONDUCT AND PROVIDES GUIDANCE IN AREAS SUCH AS BUSINESS STRATEGY, FUNDRAISING, AND OPERATIONS THROUGH STRUCTURED TEAM MENTORING SESSIONS. THE VMT AIMS TO CREATE A SAFE, INCLUSIVE, AND SUPPORTIVE ENVIRONMENT WHERE ENTREPRENEURS CAN ACCESS THE RESOURCES AND EXPERTISE THEY NEED TO SUCCEED.

Activities or mission (Part I)

THE VENTURE MENTORING TEAM (VMT) IS A 501(C)(3) EDUCATIONAL NON-PROFIT ORGANIZATION DEDICATED TO PROVIDING FREE MENTORING SERVICES TO STARTUP FOUNDERS AND UNDERSERVED SMALL BUSINESS OWNERS. ESTABLISHED IN 2017, VMT CONNECTS ENTREPRENEURS WITH EXPERIENCED MENTORS TO SUPPORT THEIR BUSINESS GROWTH AND DEVELOPMENT. OUR TEAM OF OVER 250 CERTIFIED VOLUNTEER MENTORS OPERATES UNDER A STRICT CODE OF CONDUCT AND PROVIDES GUIDANCE IN AREAS SUCH AS BUSINESS STRATEGY, FUNDRAISING, AND OPERATIONS THROUGH STRUCTURED TEAM MENTORING SESSIONS. THE VMT AIMS TO CREATE A SAFE, INCLUSIVE, AND SUPPORTIVE ENVIRONMENT WHERE ENTREPRENEURS CAN ACCESS THE RESOURCES AND EXPERTISE THEY NEED TO SUCCEED.

  • THE VMT OPERATES MENTORING CHAPTERS HOSTED BY COMMUNITY PARTNERS LIKE UNIVERSITIES AND ECONOMIC DEVELOPMENT ORGANIZATIONS. WE OFFER A COMPREHENSIVE MENTORING PROGRAM THAT INCLUDES EXTENSIVE MENTOR TRAINING AND CERTIFICATION, ONGOING SUPPORT, AND RESOURCES FOR BOTH MENTORS AND MENTEES. OUR MENTORS VOLUNTEER THEIR TIME TO HELP ENTREPRENEURS NAVIGATE THE CHALLENGES OF BUILDING AND SCALING THEIR BUSINESSES. THE VMT ALSO ENGAGES IN COLLABORATIVE FUNDRAISING AND PROVIDES GRANT WRITING SUPPORT TO HELP OUR CHAPTERS SECURE NECESSARY FUNDING.SINCE OUR INCEPTION, WE HAVE SUCCESSFULLY MENTORED OVER ONE THOUSAND STARTUPS AND SMALL BUSINESSES, HELPING THEM ACHIEVE SUSTAINABILITY AND GROWTH. OUR MENTORING APPROACH HAS CONTRIBUTED TO JOB CREATION AND ECONOMIC DEVELOPMENT WITHIN THE COMMUNITIES WE SERVE.THE VMT'S OPERATIONS ARE FUNDED THROUGH PROGRAM FEES, DONATIONS, AND GRANTS FROM OUR COMMUNITY PARTNERS INCLUDING UNIVERSITIES, FOUNDATIONS, GOVERNMENT AND CORPORATE SPONSORS. IN SELECT SITUATIONS, WE DEFER FEES TO ENABLE PARTNERS TO LAUNCH NEW CHAPTERS PRIOR TO SECURING FUNDING.

    Expenses $189,273 · Revenue $79,700

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Robert Nelson

    CEO

    Total calculated
    $0
    Hours/week
    60

  • Tom Mersch

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Jim Ryan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2024
Filed
1 October 2025
IRS schema version
2024v5.2
Source object
202522779349300317

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