Civic Intelligence

Alternatives Venture Fund Inc

990 • Fiscal year 2020 • EIN 16-1568466

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 15, 2021

Organization ProfileWWW.ALTERNATIVES.ORG
125 North Fulton StreetIthaca, NY 14850

(607) 216-3422

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

32nd percentile

0.06x

Higher debt load relative to assets than 32% of similar nonprofits.

2020 filings • NTEE S • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

23rd percentile

0.05x

Higher debt load relative to revenue than 23% of similar nonprofits.

2020 filings • NTEE S • $1M-$5M nonprofits • Source year 2020

Net Margin

92nd percentile

66%

Higher net margin than 92% of similar nonprofits.

2020 filings • NTEE S • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

33rd percentile

$0

Higher top officer pay than 33% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2020 filings • NTEE S • $1M-$5M nonprofits • Source year 2020

Asset Growth

99th percentile

530%

Faster asset growth than 99% of similar nonprofits.

2020 filings • NTEE S • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

99th percentile

1012%

Faster revenue growth than 99% of similar nonprofits.

2020 filings • NTEE S • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets32nd percentile

Assets

Up

$884,485

Up $744,044 (+530%) from 2019

Net Assets

Up

$829,938

Up $689,497 (+491%) from 2019

Liabilities

Up

$54,547

Up $54,547 from 2019

Revenue And Expenses
Liabilities / Revenue23rd percentileNet Margin92nd percentile

Revenue

Up

$1,042,881

Up $949,110 (+1012%) from 2019

Expenses

Up

$358,633

Up $215,770 (+151%) from 2019

Net Income

Up

$684,248

Up $733,340 (+1494%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth99th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.5M$1.0M$500K$0Assets 2011: $268,336Liabilities 2011: $1,9332011Assets 2012: $251,148Liabilities 2012: $02012Assets 2013: $178,715Liabilities 2013: $02013Assets 2014: $290,032Liabilities 2014: $0Net Assets 2014: $290,0322014Assets 2015: $229,929Liabilities 2015: $0Net Assets 2015: $229,9292015Assets 2016: $196,385Liabilities 2016: $0Net Assets 2016: $196,3852016Assets 2017: $163,250Liabilities 2017: $0Net Assets 2017: $163,2502017Assets 2018: $189,532Liabilities 2018: $0Net Assets 2018: $189,5322018Assets 2019: $140,441Liabilities 2019: $0Net Assets 2019: $140,4412019Assets 2020: $884,485Liabilities 2020: $54,547Net Assets 2020: $829,9382020Assets 2021: $1,101,639Liabilities 2021: $374,049Net Assets 2021: $727,5902021Assets 2022: $397,154Liabilities 2022: $301,946Net Assets 2022: $95,2082022Assets 2023: $387,036Liabilities 2023: $316,732Net Assets 2023: $70,3042023Assets 2024: $441,540Liabilities 2024: $279,142Net Assets 2024: $162,3982024

Highlighted filing

2020

Assets$884,485
Liabilities$54,547
Net Assets$829,938
Open 2020 Filing

Operations Trend

Revenue Growth99th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.5M$1.0M$500K$0-$500K-$1.0MRevenue 2011: $75,361Expenses 2011: $112,741Net Income 2011: -$37,3802011Revenue 2012: $34,055Expenses 2012: $49,309Net Income 2012: -$15,2542012Revenue 2013: $182,011Expenses 2013: $254,444Net Income 2013: -$72,4332013Revenue 2014: $253,768Expenses 2014: $142,242Net Income 2014: $111,5262014Revenue 2015: $85,301Expenses 2015: $145,403Net Income 2015: -$60,1022015Revenue 2016: $93,901Expenses 2016: $127,445Net Income 2016: -$33,5442016Revenue 2017: $92,807Expenses 2017: $125,943Net Income 2017: -$33,1362017Revenue 2018: $96,810Expenses 2018: $70,528Net Income 2018: $26,2822018Revenue 2019: $93,771Expenses 2019: $142,863Net Income 2019: -$49,0922019Revenue 2020: $1,042,881Expenses 2020: $358,633Net Income 2020: $684,2482020Revenue 2021: $212,132Expenses 2021: $313,978Net Income 2021: -$101,8462021Revenue 2022: $324,832Expenses 2022: $919,714Net Income 2022: -$594,8822022Revenue 2023: $147,326Expenses 2023: $172,229Net Income 2023: -$24,9032023Revenue 2024: $354,839Expenses 2024: $262,744Net Income 2024: $92,0952024

Highlighted filing

2020

Revenue$1,042,881
Expenses$358,633
Net Income$684,248
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 15, 2021
Return Version
2020v4.1
Gross Receipts
$1,042,881
Mission and Program Overview

Mission

To provide access to resources, guidance and pathways to affordable and non-predatory lending products. Through small business development, education, and access to affordable capital, impact aims to reach low wealth and/or black, indigenous, and people of color (bipoc) communities, who have been traditionally underserved by the mainstream financial industry.

To provide access to financial and other productive resources for underserved populations in the local community and region. Financial education centered around individual development accounts, free tax preparation services in concert with vita, technical training for small businesses.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable-$700,000-
Cash and Non-Interest-Bearing Accounts$137,681$184,485▲ $46,804
Prepaid Expenses and Deferred Charges$2,760$0▼ $2,760
Land, Buildings, and Equipment, Net$0$0→ $0
Total Assets$140,441$884,485▲ $744,044
Liabilities
Accounts Payable and Accrued Expenses-$54,547-
Total Liabilities$0$54,547▲ $54,547
Net Assets / Fund Balance
Net Assets With Donor Restrictions$78,611$781,064▲ $702,453
Net Assets Without Donor Restrictions$61,830$48,874▼ $12,956
Total Net Assets Fund Balance$140,441$829,938▲ $689,497
Total Liabilities and Net Assets / Fund Balance$140,441$884,485▲ $744,044
Compensation and Service Providers
Top Officer Pay33rd percentile

Board Members and Trustees

NameTitle
Richard FurnasPresident
Leslyn Mcbean-clairborneMember
Mike KatzMember
Peter MccrackenMember
Rob BrownMember
Kevin MietlickiTreasurer/secretary
Revenue and Support

Revenue Composition

Contributions and Grants
$1,042,357
Program Service Revenue
$250
Investment Income
$274
Other Revenue
$0
All Other Contributions
$979,088
Change in Net Assets
$684,248

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,042,881
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$1,042,881
Total Revenue per Form 990
$1,042,881
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$323,656
Salaries, Compensation, and Employee Benefits$21,127
Grants and Similar Amounts Paid$13,850
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$317,273--$317,273
Other Salaries and Wages$20,024--$20,024
Grants to Domestic Individuals$13,850--$13,850
Office Expenses-$2,802-$2,802
Payroll Taxes$1,103--$1,103
Other Expenses$640--$640
Insurance$366--$366
Travel$321--$321
Total Functional Expenses$355,831$2,802$0$358,633

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$358,633
Total Expenses per Audited Statements$358,633
Total Expenses per Form 990$358,633
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“The organization provides a copy to the board before it is filed.”

Form 990, Part VI, Section B, Line 12C

“Annually the human resources director issues a conflict of interst policy to all staff and current board members for review. It is then monitored by the human resources director.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Alternatives Venture Fund Inc
EIN
16-1568466
Phone
6072163422
Address
125 NORTH FULTON STREET, ITHACA, NY 14850
Doing Business As
Alternatives Impact

Signing Officer

Name
Richard Furnas
Title
President
Phone
6072163422
Signed
2021-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Richard Furnas
Formed
1999
Legal Domicile
Ny
Voting Board Members
6
Independent Board Members
6
Employees
5
Volunteers
50

Preparer

Firm
Sciarabba Walker & Co Llp
Address
410 EAST UPLAND ROAD, ITHACA, NY 14850
Preparer
Evan W Ramiza
Phone
6072725550
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Contractual expenses: program service expenses 317,273. Management and general expenses 0. Fundraising expenses 0. Total expenses 317,273.”

FORM 990, PART XII, LINE 2C:

“The organization did not change its oversight or selection process during the tax year.”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt081625
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01431602
IRS990ScheduleA/TotalSupportAmt01432740
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0358633
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt01042881
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt0358633
IRS990ScheduleD/TotalRevenuePerForm990Amt01042881
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01042881
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0358633
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt013850
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0IDA MATCHING GRANTS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt06
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION KEEPS WRITTEN DOCUMENTATION TO MONITOR THE USE OF GRANT FUNDING.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION PROVIDES A COPY TO THE BOARD BEFORE IT IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ANNUALLY THE HUMAN RESOURCES DIRECTOR ISSUES A CONFLICT OF INTERST POLICY TO ALL STAFF AND CURRENT BOARD MEMBERS FOR REVIEW. IT IS THEN MONITORED BY THE HUMAN RESOURCES DIRECTOR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3CONTRACTUAL EXPENSES: PROGRAM SERVICE EXPENSES 317,273. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 317,273.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION DID NOT CHANGE ITS OVERSIGHT OR SELECTION PROCESS DURING THE TAX YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART IX, LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XII, LINE 2C:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0140441
IRS990/TotalAssetsEOYAmt0884485
IRS990/TotalAssetsGrp/BOYAmt0140441
IRS990/TotalAssetsGrp/EOYAmt0884485
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt01042357
IRS990/TotalEmployeeCnt05
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt02802
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0355831
IRS990/TotalFunctionalExpensesGrp/TotalAmt0358633
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt054547
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt054547
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0140441
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0829938
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0355831
IRS990/TotalProgramServiceRevenueAmt0250
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0274
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0250
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01042881
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt050
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0140441
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0884485
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt0321
IRS990/TravelGrp/TotalAmt0321
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0125 NORTH FULTON STREET
IRS990/USAddress/CityNm0ITHACA
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd014850
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0WWW.ALTERNATIVES.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0RICHARD FURNAS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum06072163422
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-11-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ALTERNATIVES VENTURE FUND INC
ReturnHeader/Filer/BusinessNameControlTxt0ALTE
ReturnHeader/Filer/EIN0161568466
ReturnHeader/Filer/PhoneNum06072163422
ReturnHeader/Filer/USAddress/AddressLine1Txt0125 NORTH FULTON STREET
ReturnHeader/Filer/USAddress/CityNm0ITHACA
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd014850
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0161071694
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SCIARABBA WALKER & CO LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0410 EAST UPLAND ROAD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0ITHACA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd014850
ReturnHeader/PreparerPersonGrp/PhoneNum06072725550
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0EVAN W RAMIZA
ReturnHeader/ReturnTs02021-11-15T14:24:48-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0RICHARD
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0FURNAS
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$884,485
Liabilities
$54,547
Net assets
$829,938
Revenue
$1,042,881
Expenses
$358,633
Net income
$684,248
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.44$0.28$0.16$0.35$0.26$0.09
2023Summary only. Only limited summary data is available for this year.$0.39$0.32$0.07$0.15$0.17$0.02
2022Summary only. Only limited summary data is available for this year.$0.40$0.30$0.10$0.32$0.92$0.59
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.10$0.37$0.73$0.21$0.31$0.10
2020Detailed filing. Detailed filing data is available for this year.$0.88$0.05$0.83$1.04$0.36$0.68
2019Summary only. Only limited summary data is available for this year.$0.14$0.00$0.14$0.09$0.14$0.05
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.19$0.00$0.19$0.10$0.07$0.03
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.16$0.00$0.16$0.09$0.13$0.03
2016Summary only. Only limited summary data is available for this year.$0.20$0.00$0.20$0.09$0.13$0.03
2015Detailed filing. Detailed filing data is available for this year.$0.23$0.00$0.23$0.09$0.15$0.06
2014Summary only. Only limited summary data is available for this year.$0.29$0.00$0.29$0.25$0.14$0.11
2013Summary only. Only limited summary data is available for this year.$0.18$0.00$0.18$0.25$0.07
2012Summary only. Only limited summary data is available for this year.$0.25$0.00$0.03$0.05$0.02
2011Summary only. Only limited summary data is available for this year.$0.27$0.00$0.08$0.11$0.04