Form 990 for tax year 2023
Filed by VENTURE OUT BUSINESS CENTER FOUNDATION INC.
Totals
- Total revenue
- $196,299
- Total expenses
- $239,917
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $196,220
- Investment income
- $79
- Other revenue
- $0
- Total assets, end of year
- $1,040,478
- Total liabilities, end of year
- $6,624
- Net assets or fund balances, end of year
- $1,033,854
- Program services expenses (Part IX)
- $233,245
- Management and general expenses
- $6,672
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $233,245
Program services were 97.2% 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.
-
2a · Program service revenue: RENT INCOME
total $168,781 · related or exempt $168,781
-
2b · Program service revenue: FOOD VENTURE USAGE
total $27,431 · related or exempt $27,431
-
2c · Program service revenue: MISCELLANEOUS INCOME
total $8 · related or exempt $8
-
3 · Investment income
total $79 · related or exempt $79
Functional expenses
Part IX, the statement of functional expenses.
-
7 · Other salaries and wages
total $77,253 · program services $77,253
-
10 · Payroll taxes
total $5,885 · program services $5,885
-
11c · Fees: accounting
total $750 · management and general $750
-
13 · Office expenses
total $3,579 · management and general $3,579
-
14 · Information technology
total $924 · management and general $924
-
16 · Occupancy
total $72,293 · program services $72,293
-
22 · Depreciation, depletion and amortization
total $61,370 · program services $61,370
-
23 · Insurance
total $9,322 · program services $9,322
-
24a · Other expenses: SUPPLIES
total $3,930 · program services $3,930
-
24b · Other expenses: FOOD CORRIDOR PLATFORM
total $2,216 · program services $2,216
-
24c · Other expenses: EQUIPMENT LEASE
total $976 · program services $976
-
24d · Other expenses: BANK FEES
total $524 · management and general $524
-
24e · All other expenses
total $895 · management and general $895
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $5,138 · end of year $26,811
-
2 · Savings and temporary cash investments
beginning of year $66,174 · end of year $56,453
-
10a · Land, buildings and equipment: cost or other basis
$2,644,963
-
10b · Land, buildings and equipment: accumulated depreciation
$1,687,749
-
10c · Land, buildings and equipment, net
beginning of year $1,013,028 · end of year $957,214
-
17 · Accounts payable and accrued expenses
beginning of year $3,083 · end of year $2,504
-
25 · Other liabilities
beginning of year $3,785 · end of year $4,120
-
31 · Retained earnings, endowment or other funds
beginning of year $1,077,472 · end of year $1,033,854
Mission and programs · 2023
Mission
TO PROMOTE AND ENHANCE THE LOCAL ECONOMY BY OFFERING ASSISTANCE TO NEW BUSINESSES.
-
THE ORGANIZATION PROVIDES SPACE AND ASSISTANCE TO NEW BUSINESSES.
Expenses $233,245 · Revenue $196,220
As filed on the 2023 return.
Listed in Part VII
-
NANCY SOBECK
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
CHARLIE ROHLFING
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
ROBIN CULL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
DREW GARRETT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
COURTNEY GULLION ALTHOFF
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
DEVON SHARPE
PRESIDENT
- Total calculated
- $0
- Hours/week
- 2
-
ANDY LYTLE
VICE PRESIDENT
- Total calculated
- $0
- Hours/week
- 2
-
TAMMY BOLDERY
TREASURER
- Total calculated
- $0
- Hours/week
- 2
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
- 2023
- Filed
- 12 July 2024
- IRS schema version
- 2023v5.1
- Source object
- 202432129349301753
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