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Nonprofiteer
← AIRE VENTURES INC

Form 990 for tax year 2023

Filed by AIRE VENTURES INC.

Totals

Total revenue
$764,399
Total expenses
$973,649
Contributions and grants received
$764,399
Grants paid
$0
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$1,011,501
Total liabilities, end of year
$203,819
Net assets or fund balances, end of year
$807,682
Program services expenses (Part IX)
$615,150
Management and general expenses
$358,499
Fundraising expenses
$0
Program service expenses (Part III)
$615,150

Program services were 63.2% 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.

  • 1f · All other contributions, gifts and grants

    $764,399

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $461,946 · program services $280,385 · management and general $181,561

  • 9 · Other employee benefits

    total $37,692 · program services $22,820 · management and general $14,872

  • 10 · Payroll taxes

    total $34,863 · program services $21,178 · management and general $13,685

  • 11g · Fees: other

    total $71,151 · program services $8,085 · management and general $63,066

  • 13 · Office expenses

    total $6,285 · program services $3,041 · management and general $3,244

  • 14 · Information technology

    total $20,833 · program services $3,637 · management and general $17,196

  • 17 · Travel

    total $6,848 · program services $3,132 · management and general $3,716

  • 20 · Interest

    total $667 · management and general $667

  • 22 · Depreciation, depletion and amortization

    total $240 · management and general $240

  • 23 · Insurance

    total $6,330 · management and general $6,330

  • 24a · Other expenses: CONTRACT LABOR

    total $301,755 · program services $251,165 · management and general $50,590

  • 24b · Other expenses: OTHER EXPENSES

    total $14,101 · program services $11,913 · management and general $2,188

  • 24c · Other expenses: PROGRAM SUBAWARDS

    total $5,916 · program services $5,916

  • 24d · Other expenses: PROGRAM EVENT COSTS

    total $4,038 · program services $3,693 · management and general $345

  • 24e · All other expenses

    total $984 · program services $185 · management and general $799

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $916,722 · end of year $899,056

  • 3 · Pledges and grants receivable

    beginning of year $522,290 · end of year $75,000

  • 4 · Accounts receivable

    beginning of year $0 · end of year $17,414

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,975 · end of year $20,031

  • 10a · Land, buildings and equipment: cost or other basis

    $9,150

  • 10b · Land, buildings and equipment: accumulated depreciation

    $9,150

  • 10c · Land, buildings and equipment, net

    beginning of year $240 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $426,295 · end of year $203,819

  • 27 · Net assets without donor restrictions

    beginning of year $286,438 · end of year $75,027

  • 28 · Net assets with donor restrictions

    beginning of year $730,494 · end of year $732,655

Mission and programs · 2023

Mission

AT AIRE VENTURES, WE SCALE TECHNOLOGY AND INNOVATION SOLUTIONS TO SYSTEMIC GAPS IN ACCESS, OPPORTUNITY, AND RACIAL EQUITY.

Activities or mission (Part I)

TO BRIDGE SYSTEMIC GAPS IN ACCESS, OPPORTUNITY, AND RACIAL EQUITY BY SCALING INNOVATION AND TECHNOLOGY SOLUTIONS TO THEM.

  • OPPORTUNITY CONNECT DEVELOPS DEEP COMMUNITY RELATIONSHIPS THAT CONNECT BIPOC ENTREPRENEURS TO CAPITAL AND OPPORTUNITY THROUGH: 1) BUSINESS PLAN TRAINING; 2) CHARACTER-BASED AND ALTERNATIVE LENDING; 3) TECHNICAL ASSISTANCE AND INDIVIDUALIZED GROWTH CONSULTING; AND 4) REAL ESTATE AND RETAIL INCUBATION.

    Expenses $364,488

  • TECH EQUITY MIAMI IS A FIRST OF ITS KIND FUNDING CONSORTIUM THAT AIMS TO DEPLOY $100 MILLION IN PHILANTHROPIC FUNDING OVER FIVE YEARS INTO INITIATIVES THAT REMOVE ENTRY BARRIERS INTO THE TECH INDUSTRY AND THAT WILL CREATE OPPORTUNITIES FOR UNDERREPRESENTED GROUPS, INCLUDING YOUTH AND SMALL BUSINESSES.

    Expenses $237,114

  • NYAH PROJECT BELIEVES THAT TRAVEL AWAKENS LEADERS AND BRIDGES SYSTEMIC OPPORTUNITY GAPS BY PROVIDING FELLOWSHIPS FOR DIVERSE YOUTH FROM UNDERSERVED COMMUNITIES TO EXPERIENCE WORLDS BEYOND THEM.

    Expenses $12,946

  • TALENT SCOUT FACILITATES CONNECTIONS BETWEEN FAST-GROWING, VENTURE-BACKED STARTUP FOUNDING TEAMS OR HIGH GROWTH TECHNOLOGY COMPANIES THROUGH AN ONLINE ECOSYSTEM NAVIGATION PLATFORM.

    Expenses $326

  • PASSPORT PROGRAM

    Expenses $276

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Lucas Hernandez

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Andres Rivero

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Kristen Corpion

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Monique Hayes

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Imran Arif Siddiqui

    EMPLOYEE

    Total calculated
    $201,202
    From this org
    $201,202
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $201,202
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $201,202

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
(1) THE BOARD CONVENES AN INDEPENDENT COMPENSATION SUBCOMMITTEE, NOT INCLUDING THE PERSON RECEIVING THE COMPENSATION TO CONDUCT A COMPARABILITY REVIEW COMPRISED OF AN EVALUATION OF COMPARABLE SALARY AND BENEFITS DATA, INCLUDING BUT NOT LIMITED TO SUCH AS DATA AVAILABLE FROM SALARY AND BENEFIT SURVEYS, TO LEARN WHAT NONPROFIT EMPLOYERS WITH SIMILAR MISSIONS, AND OF A SIMILAR BUDGET SIZE, THAT ARE LOCATED IN THE SAME, OR A SIMILAR GEOGRAPHIC REGION, PAY THEIR SENIOR LEADERS. (2) THE BOARD COMPENSATION COMMITTEE DOCUMENTS WHO WAS INVOLVED, CONFIRMS THE RESPECTIVE INDEPENDENCE OF EACH MEMBER THEREOF, THE PROCESS USED TO CONDUCT THE REVIEW, AS WELL AS THE DISPOSITION OF THE FULL BOARD'S DECISION TO APPROVE THE EXECUTIVE DIRECTOR'S COMPENSATION. (3) SAID DOCUMENTATION DEMONSTRATES THAT THE BOARD TOOK THE COMPARABLE DATA INTO CONSIDERATION WHEN IT APPROVED THE COMPENSATION.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202403209349313905

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