Totals
- Total revenue
- $295,072
- Total expenses
- $775,339
- Contributions and grants received
- $197,908
- Grants paid
- $0
- Program service revenue
- $0
- Investment income
- $32,615
- Other revenue
- $64,549
- Total assets, end of year
- $2,395,371
- Total liabilities, end of year
- $3,927,614
- Net assets or fund balances, end of year
- -$1,532,243
- Program services expenses (Part IX)
- $636,139
- Management and general expenses
- $139,200
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $636,139
Program services were 82.0% 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.
-
1a · Federated campaigns
$30,000
-
1e · Government grants (contributions)
$91,899
-
1f · All other contributions, gifts and grants
$76,009
-
3 · Investment income
total $32,615 · related or exempt $32,615
-
11a · Other revenue: DEVELOPER FEES
total $50,000 · related or exempt $50,000
-
11b · Other revenue: INCOME FROM RELATED PA
total $11,970 · related or exempt $11,970
-
11c · Other revenue: RENTAL INCOME
total $2,131 · related or exempt $2,131
-
11d · All other revenue
total $448 · related or exempt $448
-
11e · Other revenue, total
$64,549
Functional expenses
Part IX, the statement of functional expenses.
-
7 · Other salaries and wages
total $67,199 · program services $67,199
-
9 · Other employee benefits
total $42,146 · program services $42,146
-
11g · Fees: other
total $530,225 · program services $391,025 · management and general $139,200
-
17 · Travel
total $1,690 · program services $1,690
-
20 · Interest
total $86,465 · program services $86,465
-
22 · Depreciation, depletion and amortization
total $29,753 · program services $29,753
-
24a · Other expenses: OTHER COSTS
total $17,861 · program services $17,861
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $105,567 · end of year $120,647
-
4 · Accounts receivable
beginning of year $321,959 · end of year $193,515
-
7 · Other notes and loans receivable
beginning of year $1,443,419 · end of year $1,471,174
-
9 · Prepaid expenses and deferred charges
end of year $11,600
-
10a · Land, buildings and equipment: cost or other basis
$804,365
-
10b · Land, buildings and equipment: accumulated depreciation
$205,930
-
10c · Land, buildings and equipment, net
beginning of year $628,188 · end of year $598,435
-
17 · Accounts payable and accrued expenses
beginning of year $83,657 · end of year $109,866
-
19 · Deferred revenue
beginning of year $1,798 · end of year $118,508
-
23 · Secured mortgages and notes payable
beginning of year $1,315,883 · end of year $1,206,183
-
25 · Other liabilities
beginning of year $2,149,771 · end of year $2,493,057
-
27 · Net assets without donor restrictions
beginning of year -$1,051,976 · end of year -$1,532,243
Mission and programs · 2023
Mission
TO PROVIDE AFFORDABLE HOUSING OPPORTUNITIES TO THOSE INDIVIDUALS OR FAMILIES IN NEED. INCREASE THE AMOUNT OF AFFORDABLE HOUSING WITHIN OAKLAND AND LIVINGSTON COUNTIES.
Activities or mission (Part I)
VENTURE, INC. WILL PROVIDE, ENERGY-EFFICIENT, AFFORDABLE HOUSING FOR PERSONS OF LOW AND MODERATE INCOME LEVELS BY FACILITATING HOME PURCHASE, REHABILITAITON, CONSTRUCTION, AND LENDING AND PERFORM OTHER COMMUNITY DEVELOPMENT ACTIVITIES TO ASSIST IN SUCH OBJECTIVES.
-
TO INCREASE THE AMOUNT OF AFFORDABLE HOUSING WITHIN OAKLAND AND LIVINGSTON COUNTIES. DURING 2023, VENTURE CONTINUED ITS WORK IN THE GM MODERN HOUSING NEIGHBORHOOD AND UNITY PARK NEIGHBORHOOD BY DOING SOME OWNER OCCUPIED REHABILITATION WORK. VENTURE ALSO STARTED CONSTRUCTION OF ITS FIFTH HOUSE BUILD UTILIZING FUNDING FROM OAKLAND COUNTY IN PARTNERSHIP WITH THE OAKLAND SCHOOLS TECHNICAL CAMPUS IN PONTIAC.
Expenses $636,139
As filed on the 2023 return.
Listed in Part VII
-
Susan HardingSUSAN HARDING
CHAIRPERSON
- Total calculated
- $180,010
- From this org
- $0
- From related orgs
- $144,360
- Other
- $35,650
- Hours/week
- 2 + 38 related
Schedule J breakdown matched by us
- Base
- $0 + $144,360 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $11,976 related
- Nontaxable benefits
- $0 + $23,674 related
- Filer's total
- $0 + $180,010 related
-
Brad MichaudBRAD MICHAUD
PRESIDENT
- Total calculated
- $145,778
- From this org
- $0
- From related orgs
- $132,766
- Other
- $13,012
- Hours/week
- 12 + 28 related
-
Thomas KabelTHOMAS KABEL
SECRETARY
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Coleman YoukamCOLEMAN YOUKAM
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Darrien FranklinDARRIEN FRANKLIN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Holbert MaxeyHOLBERT MAXEY
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Bryan KeilerBRYAN KEILER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Terry WinterTERRY WINTER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1 + 1 related
-
Doug WilliamsDOUG WILLIAMS
TREASURER
- Total calculated
- $0
- Hours/week
- 1 + 1 related
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 · Written employment contract
- 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
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.
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
OAKLAND LIVINGSTON HUMAN SERVICE AGENCY
501(C)(3) · HUMAN SERVICE AGENCY · MI
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Related partnerships
Part III: related organizations taxable as a partnership, with the filer's share.
-
VENTURE GRAND RIVER LDHA LP
AFFORDABLE HOUSING · MI · 1% owned
-
VENTURE GATEWAY LDHA LP
AFFORDABLE HOUSING · MI · 1% owned
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
VENTURE HOUSING INC
C · AFFORDABLE HOUSING · MI · 1% owned
-
VENTURE HOUSING II INC
C · AFFORDABLE HOUSING · MI · 1% owned
-
VENTURE HOUSING III INC
C · AFFORDABLE HOUSING · MI · 1% owned
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 15 November 2024
- IRS schema version
- 2023v5.1
- Source object
- 202403209349302400
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