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Nonprofiteer
← ARKANSAS VENTURE CENTER

Form 990 for tax year 2024

Filed by ARKANSAS VENTURE CENTER.

Totals

Total revenue
$1,169,192
Total expenses
$1,302,039
Contributions and grants received
$1,096,387
Grants paid
$0
Program service revenue
$0
Investment income
$69,660
Other revenue
$3,145
Total assets, end of year
$3,985,909
Total liabilities, end of year
$708,229
Net assets or fund balances, end of year
$3,277,680
Program services expenses (Part IX)
$316,268
Management and general expenses
$985,771
Fundraising expenses
$0
Program service expenses (Part III)
$316,268

Program services were 24.3% 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)

    $880,940

  • 1f · All other contributions, gifts and grants

    $215,447

  • 1g · Noncash contributions included above

    $49,004

  • 3 · Investment income

    total $45,353 · excluded $45,353

  • 7a · Gross sales of assets other than inventory

    securities $196,918

  • 7b · Less cost or other basis and sales expenses

    securities $172,611

  • 7c · Gain or loss

    securities $24,307

  • 7d · Net gain or loss

    total $24,307 · related or exempt $24,307

  • 11a · Other revenue: MISCELLANEOUS

    total $3,145 · related or exempt $3,145

  • 11e · Other revenue, total

    $3,145

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $508,347 · program services $135,019 · management and general $373,328

  • 6 · Compensation of disqualified persons

    total $250,686 · program services $76,359 · management and general $174,327

  • 9 · Other employee benefits

    total $69,847 · program services $6,900 · management and general $62,947

  • 10 · Payroll taxes

    total $47,552 · program services $18,244 · management and general $29,308

  • 11c · Fees: accounting

    total $43,010 · management and general $43,010

  • 11g · Fees: other

    total $56,210 · management and general $56,210

  • 12 · Advertising and promotion

    total $36,322 · program services $1,162 · management and general $35,160

  • 13 · Office expenses

    total $31,674 · management and general $31,674

  • 16 · Occupancy

    total $115,895 · management and general $115,895

  • 17 · Travel

    total $36,342 · program services $24,076 · management and general $12,266

  • 19 · Conferences, conventions and meetings

    total $18,994 · program services $15,998 · management and general $2,996

  • 20 · Interest

    total $10,947 · management and general $10,947

  • 22 · Depreciation, depletion and amortization

    total $10,992 · management and general $10,992

  • 23 · Insurance

    total $9,826 · management and general $9,826

  • 24a · Other expenses: PROGRAM EXPENSES

    total $28,510 · program services $28,510

  • 24b · Other expenses: OTHER - IMPAIRMENT

    total $16,885 · management and general $16,885

  • 24c · Other expenses: CREDIT LOSSES

    total $10,000 · program services $10,000

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $112,399 · end of year $19,674

  • 4 · Accounts receivable

    beginning of year $166,392 · end of year $144,860

  • 9 · Prepaid expenses and deferred charges

    beginning of year $23,254 · end of year $13,792

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

    $141,302

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

    $127,793

  • 10c · Land, buildings and equipment, net

    beginning of year $19,668 · end of year $13,509

  • 11 · Investments: publicly traded securities

    beginning of year $2,889,021 · end of year $3,406,163

  • 14 · Intangible assets

    beginning of year $0 · end of year $387,911

  • 15 · Other assets

    beginning of year $148,500 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $77,869 · end of year $47,761

  • 19 · Deferred revenue

    beginning of year $73,548 · end of year $42,557

  • 25 · Other liabilities

    beginning of year $21,060 · end of year $617,911

  • 27 · Net assets without donor restrictions

    beginning of year $2,721,612 · end of year $3,163,665

  • 28 · Net assets with donor restrictions

    beginning of year $465,145 · end of year $114,015

Mission and programs · 2024

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.

  • THE VENTURE CENTER PROGRAMMED AND LAUNCHED THREE ACCELERATORS DURING THE YEAR. THE ARKANSAS BANKING SOLUTIONS ACCELERATOR/ABSA IS A CONTINUATION OF THE SUCCESSFUL FINTECH PROGRAM MATCHING FINTECH START-UPS WITH BANKS. THE VETERAN-OWNED SMALL BUSINESS ACCELERATOR/VOSB, IN PARTNERSHIP WITH THE ARKANSAS SMALL BUSINESS ADMINISTRATION, IS THE SECOND COHORT OF A TRAINING AND PROFESSIONAL EDUCATION PROGRAM HELPING VETERANS SUCCESSFULLY GROW THEIR EXISTING SMALL BUSINESSES. THE ARKANSAS LITHIUM TECHNOLOGY ACCELERATOR/ALTA, IN PARTNERSHIP WITH MAJOR ENERGY PRODUCERS, IS A NEW PROGRAM BRINGING LEADING LITHIUM ION BATTERY SUPPLY CHAIN TECHNOLOGY START-UP COMPANIES TO ARKANSAS, TO HELP BUILD A NEW LITHIUM ECONOMY IN SUPPORT OF THE NASCENT LITHIUM MINING AND REFINING INDUSTRY IN SOUTH ARKANSAS.

    Expenses $300,270

  • THE VENTURE CENTER HELPED PROGRAM AND LAUNCH THE FIRST ARKANSAS LITHIUM INNOVATION SUMMIT, LED BY ARKANSAS COMMERCE SECRETARY HUGH MCDONALD, WITH THE GOAL OF EDUCATING THE LITHIUM/ENERGY INDUSTRY AND OTHER KEY NATIONAL AND STATE GOVERNMENT, ACADEMIC AND BUSINESS LEADERS ABOUT THE ECONOMIC POTENTIAL OF THE STATE'S LITHIUM RESERVES IN THE SMACKOVER FORMATION.

    Expenses $15,998

  • THE VENTURE CENTER'S ENTREPRENEURSHIP AND EDUCATIONAL PROGRAMS HAVE SUBSTANTIALLY CONTRIBUTED TO THE CREATION OF MULTIPLE NEW COMPANIES, THE GROWTH OF EXISTING SMALL BUSINESSES AND THE RENEWED INNOVATION OF LARGE CORPORATIONS IN THE STATE. THE VENTURE CENTER IS ALSO FOSTERING AND GROWING A COMMUNITY OF MEMBERS, MENTORS AND PARTNERS THROUGH CURATED PROGRAMMING AND EVENTS RANGING FROM LECTURES AND WORKSHOPS TO SOCIAL AND PROFESSIONAL NETWORKING EVENTS.

As filed on the 2024 return.

Listed in Part VII

  • RAY DILLON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • MILLIE WARD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • JOHN HALEY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • JIM WOMBLE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • JAY CHESSHIR

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • JAMES HENDREN

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    0.3

  • COLLINS ANDREWS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • BILL YODER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • ARTHUR ORDUNA

    EXECUTIVE DIRECTOR

    Total calculated
    $233,020
    From this org
    $217,499
    From related orgs
    $0
    Other
    $15,521
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $176,464
    Bonus
    $25,000
    Other
    $16,035
    Deferred
    $6,150
    Nontaxable benefits
    $9,371
    Filer's total
    $233,020

  • MIKE O'MALLEY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

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
2024
Filed
15 November 2025
IRS schema version
2024v5.2
Source object
202533219349307328

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