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Nonprofiteer
← VENTURE OUT BUSINESS CENTER FOUNDATION INC

Form 990 for tax year 2022

Filed by VENTURE OUT BUSINESS CENTER FOUNDATION INC.

Totals

Total revenue
$168,111
Total expenses
$259,099
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$168,065
Investment income
$46
Other revenue
$0
Total assets, end of year
$1,084,340
Total liabilities, end of year
$6,868
Net assets or fund balances, end of year
$1,077,472
Program services expenses (Part IX)
$251,262
Management and general expenses
$7,837
Fundraising expenses
$0
Program service expenses (Part III)
$251,262

Program services were 97.0% 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.

  • 2a · Program service revenue: RENT INCOME

    total $148,109 · related or exempt $148,109

  • 2b · Program service revenue: FOOD VENTURE USAGE

    total $18,789 · related or exempt $18,789

  • 2c · Program service revenue: MISCELLANEOUS INCOME

    total $1,167 · related or exempt $1,167

  • 3 · Investment income

    total $46 · related or exempt $46

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $84,813 · program services $84,813

  • 10 · Payroll taxes

    total $6,639 · program services $6,639

  • 11c · Fees: accounting

    total $750 · management and general $750

  • 13 · Office expenses

    total $3,116 · management and general $3,116

  • 14 · Information technology

    total $2,275 · management and general $2,275

  • 16 · Occupancy

    total $82,436 · program services $82,436

  • 22 · Depreciation, depletion and amortization

    total $60,954 · program services $60,954

  • 23 · Insurance

    total $7,649 · program services $7,649

  • 24a · Other expenses: SUPPLIES

    total $5,646 · program services $5,646

  • 24b · Other expenses: FOOD CORRIDOR PLATFORM

    total $2,149 · program services $2,149

  • 24c · Other expenses: EQUIPMENT LEASE

    total $976 · program services $976

  • 24d · Other expenses: BANK FEES

    total $934 · management and general $934

  • 24e · All other expenses

    total $762 · management and general $762

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $24,575 · end of year $5,138

  • 2 · Savings and temporary cash investments

    beginning of year $82,127 · end of year $66,174

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

    $2,639,407

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

    $1,626,379

  • 10c · Land, buildings and equipment, net

    beginning of year $1,069,446 · end of year $1,013,028

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,138 · end of year $3,083

  • 25 · Other liabilities

    beginning of year $4,550 · end of year $3,785

  • 31 · Retained earnings, endowment or other funds

    beginning of year $1,168,460 · end of year $1,077,472

Mission and programs · 2022

Mission

TO PROMOTE AND ENHANCE THE LOCAL ECONOMY BY OFFERING ASSISTANCE TO NEW BUSINESSES.

  • THE ORGANIZATION PROVIDES SPACE AND ASSISTANCE TO NEW BUSINESSES.

    Expenses $251,262 · Revenue $168,065

As filed on the 2022 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
2022
Filed
30 June 2023
IRS schema version
2022v5.0
Source object
202331889349301358

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