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← VENN FOUNDATION

Form 990 for tax year 2024

Filed by VENN FOUNDATION.

Totals

Total revenue
$7,088,292
Total expenses
$1,848,427
Contributions and grants received
$6,496,346
Grants paid
$394,995
Program service revenue
$517,944
Investment income
$74,002
Other revenue
$0
Total assets, end of year
$19,207,391
Total liabilities, end of year
$1,488,547
Net assets or fund balances, end of year
$17,718,844
Program services expenses (Part IX)
$1,675,171
Management and general expenses
$117,807
Fundraising expenses
$55,449
Program service expenses (Part III)
$1,675,171

Program services were 90.6% 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.

  • 1f · All other contributions, gifts and grants

    $6,496,346

  • 1g · Noncash contributions included above

    $76,405

  • 2a · Program service revenue: PRI ACCRUED INTEREST

    total $295,168 · related or exempt $295,168

  • 2b · Program service revenue: PRI CLOSING FEES

    total $207,651 · related or exempt $207,651

  • 2c · Program service revenue: OTHER PROGRAM REVENUE

    total $15,125 · related or exempt $15,125

  • 3 · Investment income

    total $74,002 · excluded $74,002

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $394,995 · program services $394,995

  • 5 · Compensation of officers, directors and key employees

    total $108,850 · program services $32,655 · management and general $43,540 · fundraising $32,655

  • 7 · Other salaries and wages

    total $102,751 · program services $81,786 · management and general $11,500 · fundraising $9,465

  • 10 · Payroll taxes

    total $16,475 · program services $8,966 · management and general $4,253 · fundraising $3,256

  • 11b · Fees: legal

    total $6,730 · program services $1,230 · fundraising $5,500

  • 11c · Fees: accounting

    total $14,310 · management and general $14,310

  • 11g · Fees: other

    total $8,116 · management and general $8,116

  • 14 · Information technology

    total $21,803 · program services $309 · management and general $21,398 · fundraising $96

  • 16 · Occupancy

    total $600 · management and general $600

  • 17 · Travel

    total $1,033 · program services $317 · management and general $716

  • 23 · Insurance

    total $11,098 · management and general $11,098

  • 24a · Other expenses: PROVISION FOR CREDIT LO

    total $852,271 · program services $852,271

  • 24b · Other expenses: CONTRIBUTIONS FROM PRIS

    total $297,500 · program services $297,500

  • 24c · Other expenses: MISCELLANEOUS

    total $11,895 · program services $5,142 · management and general $2,276 · fundraising $4,477

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $210,315 · end of year $415,943

  • 2 · Savings and temporary cash investments

    beginning of year $1,574,805 · end of year $2,156,338

  • 4 · Accounts receivable

    beginning of year $654,365 · end of year $784,537

  • 9 · Prepaid expenses and deferred charges

    beginning of year $11,099 · end of year $9,322

  • 13 · Investments: program-related

    beginning of year $11,558,987 · end of year $15,841,251

  • 17 · Accounts payable and accrued expenses

    beginning of year $29,927 · end of year $38,547

  • 24 · Unsecured notes and loans payable

    beginning of year $1,250,000 · end of year $1,450,000

  • 27 · Net assets without donor restrictions

    beginning of year $12,579,644 · end of year $17,618,844

  • 28 · Net assets with donor restrictions

    beginning of year $150,000 · end of year $100,000

Mission and programs · 2024

Mission

TO UNLEASH THE FULL POWER OF PROGRAM-RELATED INVESTMENTS TO ACHIEVE CHARITABLE IMPACT.

  • VENN FOUNDATION (VENN) IS A NONPROFIT PUBLIC CHARITY ON A MISSION TO UNLEASH THE FULL POWER OF PROGRAM-RELATED INVESTMENTS(PRIS) TO ADVANCE CHARITABLE IMPACT. BY OPENING A SPECIAL DONOR-ADVISED FUND CALLED A VENN ACCOUNT, ANY INDIVIDUAL OR ORGANIZATION CAN RECOMMEND THAT THEIR CHARITABLE DOLLARS BE USED BY VENN TO MAKE PRIS. VENN CAN SYNDICATE ANY ONE PRI AMONG ANY NUMBER OF VENN ACCOUNTS. FINANCIAL RETURNS FROM THESE PRIS GO BACK TO PARTICIPATING ACCOUNTS PRO RATA FOR THE DONORS TO RECOMMEND REDEPLOYMENT INTO NEW PRIS OR GRANTS. OUR VISION IS TO CREATE A NEW CATEGORY OF FLEXIBLE, BELOW-MARKET-RATE CAPITAL THAT CAN BE DIRECTED CREATIVELY TO PROJECTS AND ORGANIZATIONS ACROSS ALL SECTORS THAT ARE HELPING ADVANCE CHARITABLE GOALS.

    Expenses $1,675,171 · Grants $394,995 · Revenue $517,944

As filed on the 2024 return.

Listed in Part VII

  • Jeff Ochs

    PRESIDENT AND DIRECTOR

    Total calculated
    $108,850
    From this org
    $108,850
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Jaclyn Schroeder

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    5

  • William Bodner

    BOARD TREASURER

    Total calculated
    $0
    Hours/week
    5

  • Millie Acamovic

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Michael Dai

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Ramya Rauf

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Susan Sands

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Robert Scarlett

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Jeanne Voigt

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

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

Provenance

Return type
form_990
Tax year
2024
Filed
21 April 2025
IRS schema version
2024v5.1
Source object
202541129349300524

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