Totals
- Total revenue
- $1,441,064
- Total expenses
- $1,898,909
- Contributions and grants received
- $1,272,345
- Grants paid
- $0
- Program service revenue
- $114,675
- Investment income
- $51,614
- Other revenue
- $2,430
- Total assets, end of year
- $3,359,234
- Total liabilities, end of year
- $172,477
- Net assets or fund balances, end of year
- $3,186,757
- Program services expenses (Part IX)
- $790,681
- Management and general expenses
- $1,108,228
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $790,681
Program services were 41.6% 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)
$530,065
-
1f · All other contributions, gifts and grants
$742,280
-
1g · Noncash contributions included above
$45,994
-
2a · Program service revenue: COMMUNITY PROGRAM
total $74,757 · related or exempt $74,757
-
2b · Program service revenue: ACCELERATOR
total $39,918 · related or exempt $39,918
-
3 · Investment income
total $44,172 · excluded $44,172
-
7a · Gross sales of assets other than inventory
securities $349,838
-
7b · Less cost or other basis and sales expenses
securities $342,396
-
7c · Gain or loss
securities $7,442
-
7d · Net gain or loss
total $7,442 · related or exempt $7,442
-
11a · Other revenue: MISCELLANEOUS
total $2,430 · related or exempt $2,430
-
11e · Other revenue, total
$2,430
Functional expenses
Part IX, the statement of functional expenses.
-
6 · Compensation of disqualified persons
total $892,314 · program services $400,626 · management and general $491,688
-
9 · Other employee benefits
total $73,909 · management and general $73,909
-
10 · Payroll taxes
total $65,970 · management and general $65,970
-
11b · Fees: legal
total $494 · management and general $494
-
11c · Fees: accounting
total $32,347 · management and general $32,347
-
11g · Fees: other
total $600 · management and general $600
-
12 · Advertising and promotion
total $95,563 · program services $28,657 · management and general $66,906
-
13 · Office expenses
total $54,102 · program services $1,192 · management and general $52,910
-
14 · Information technology
total $1,505 · management and general $1,505
-
16 · Occupancy
total $101,749 · management and general $101,749
-
17 · Travel
total $55,566 · program services $41,378 · management and general $14,188
-
19 · Conferences, conventions and meetings
total $240,635 · program services $240,635
-
22 · Depreciation, depletion and amortization
total $16,725 · management and general $16,725
-
23 · Insurance
total $11,551 · management and general $11,551
-
24a · Other expenses: OTHER - IMPAIRMENT
total $103,213 · management and general $103,213
-
24b · Other expenses: PROGRAM EXPENSES
total $78,068 · program services $78,068 · management and general $0
-
24c · Other expenses: ADMINISTRATIVE FEES
total $74,598 · program services $125 · management and general $74,473
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $137,240 · end of year $112,399
-
4 · Accounts receivable
beginning of year $280,000 · end of year $166,392
-
9 · Prepaid expenses and deferred charges
beginning of year $44,469 · end of year $23,254
-
10a · Land, buildings and equipment: cost or other basis
$137,828
-
10b · Land, buildings and equipment: accumulated depreciation
$118,160
-
10c · Land, buildings and equipment, net
beginning of year $31,991 · end of year $19,668
-
11 · Investments: publicly traded securities
beginning of year $2,903,241 · end of year $2,889,021
-
12 · Investments: other securities
beginning of year $66,980
-
15 · Other assets
beginning of year $181,257 · end of year $148,500
-
17 · Accounts payable and accrued expenses
beginning of year $43,609 · end of year $77,869
-
19 · Deferred revenue
beginning of year $244,646 · end of year $73,548
-
25 · Other liabilities
beginning of year $66,980 · end of year $21,060
-
27 · Net assets without donor restrictions
beginning of year $2,824,798 · end of year $2,721,612
-
28 · Net assets with donor restrictions
beginning of year $465,145 · end of year $465,145
Mission and programs · 2023
Mission
THE VENTURE CENTER HELPS STARTUPS OBTAIN CUSTOMER VALIDATION & REACH VIABILITY THROUGH SYSTEMATIC PROGRAMMING, PREMIUM MENTORSHIP THAT LEVERAGES BEST PRACTICES IN LEAN METHODOLOGY & STRATEGIC ACCELERATION WITH AN EYE ON REACHING SCALE AND CREATING MEASURABLE ECONOMIC IMPACT.
Activities or mission (Part I)
THE VENTURE CENTER HELPS STARTUPS OBTAIN CUSTOMER VALIDATION & REACH VIABILITY THROUGH SYSTEMATIC PROGRMMING, PREMIUM MENTORSHIP THAT LEVERAGES BEST PRACTICES IN LEAN METHODOLOGY & STRATEGIC ACCELERATION WITH AN EYE ON REACHING SCALE AND CREATING MEASURABLE ECONOMIC IMPACT.
-
LAUNCHED FINTECH ACCELERATOR TO ASSIST ENTERPRENEURS IN THE FINTECH COMMUNITY LAUNCH THEIR COMPANIES.
Expenses $551,599
-
VINCENT FINTECH SUMMIT IS AN EXCLUSIVE EVENT THAT BRINGS TOGETHER BANK INDUSTRY LEADERS, INNOVATORS, AND INFLUENCERS FROM AROUND THE WORLD FOR TWO DAYS, LIVE DEMOS, AND UNLIMITED NETWORKING.
Expenses $239,082
-
THE ORGANIZATIONS EDUCATIONAL PROGRAMS HAVE SUBSTANTIALLY CONTRIBUTED TO THE CREATION OF MULTIPLE NEW COMPANIES. THESE PROGRAMS HAVE HELPED PEOPLE PURSUE THEIR DREAM OF OWNING THEIR OWN BUSINESS. IN ADDITION WORKSHOPS AND MIXER EVENTS FUNCTION TO SUPPORT THE NEW BUSINESSES AND LINK QUALIFIED EMPLOYEE CANDIDATES TO PROSPECTIVE EMPLOYERS.
As filed on the 2023 return.
Listed in Part VII
-
Ray DillonRAY DILLON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.3
-
Millie WardMILLIE WARD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.3
-
John HaleyJOHN HALEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.3
-
Jim WombleJIM WOMBLE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.3
-
Jay ChesshirJAY CHESSHIR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.3
-
James HendrenJAMES HENDREN
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 0.3
-
Collins AndrewsCOLLINS ANDREWS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.3
-
Bill YoderBILL YODER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.3
-
Arthur OrdunaARTHUR ORDUNA
EXECUTIVE DIRECTOR
- Total calculated
- $179,623
- From this org
- $175,000
- From related orgs
- $0
- Other
- $4,623
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $175,000
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $4,623
- Filer's total
- $179,623
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 · 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.
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 15 November 2024
- IRS schema version
- 2023v5.1
- Source object
- 202443209349316744
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
The source document this was parsed from is served over the API, which is where bulk and document access live.