Civic Intelligence

Alternatives Venture Fund Inc

990 • Fiscal year 2021 • EIN 16-1568466

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 15, 2022

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

69th percentile

0.34x

Higher debt load relative to assets than 69% of similar nonprofits.

2021 filings • NTEE S • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

84th percentile

1.76x

Higher debt load relative to revenue than 84% of similar nonprofits.

2021 filings • NTEE S • $1M-$5M nonprofits • Source year 2021

Net Margin

8th percentile

-48%

Higher net margin than 8% of similar nonprofits.

2021 filings • NTEE S • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

34th percentile

$0

Higher top officer pay than 34% of similar nonprofits.

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

2021 filings • NTEE S • $1M-$5M nonprofits • Source year 2021

Asset Growth

73rd percentile

25%

Faster asset growth than 73% of similar nonprofits.

2021 filings • NTEE S • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

1st percentile

-80%

Faster revenue growth than 1% of similar nonprofits.

2021 filings • NTEE S • $1M-$5M nonprofits • Annualized from 2020 to 2021

Assets

Up

$1,101,639

Up $217,154 (+25%) from 2020

Net Assets

Down

$727,590

Down $102,348 (-12%) from 2020

Liabilities

Up

$374,049

Up $319,502 (+586%) from 2020

Revenue

Down

$212,132

Down $830,749 (-80%) from 2020

Expenses

Down

$313,978

Down $44,655 (-12%) from 2020

Net Income

Down

-$101,846

Down $786,094 (-115%) from 2020

Historical Trend

Balance Sheet Trend

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

2021

Assets$1,101,639
Liabilities$374,049
Net Assets$727,590

Operations Trend

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

2021

Revenue$212,132
Expenses$313,978
Net Income-$101,846
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 15, 2022
Return Version
2021v4.2
Gross Receipts
$212,132
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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$184,485$735,950▲ $551,465
Pledges and Grants Receivable$700,000$350,000▼ $350,000
Other Notes and Loans Receivable, Net-$15,689-
Total Assets$884,485$1,101,639▲ $217,154
Liabilities
Other Liabilities$0$319,799▲ $319,799
Deferred Revenue-$52,900-
Accounts Payable and Accrued Expenses$54,547$1,350▼ $53,197
Total Liabilities$54,547$374,049▲ $319,502
Net Assets / Fund Balance
Net Assets With Donor Restrictions$781,064$693,020▼ $88,044
Net Assets Without Donor Restrictions$48,874$34,570▼ $14,304
Total Net Assets Fund Balance$829,938$727,590▼ $102,348
Total Liabilities and Net Assets / Fund Balance$884,485$1,101,639▲ $217,154
Compensation and Service Providers

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$211,642
Program Service Revenue
$0
Investment Income
$490
Other Revenue
$0
All Other Contributions
$46,907
Change in Net Assets
$-101,846
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$148,984
Grants and Similar Amounts Paid$115,110
Salaries, Compensation, and Employee Benefits$49,884
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$143,104--$143,104
Grants to Domestic Individuals$115,110--$115,110
Other Salaries and Wages$44,442--$44,442
Payroll Taxes$5,442--$5,442
Office Expenses-$3,021-$3,021
Other Expenses$2,300$36-$2,336
Interest$523--$523
Total Functional Expenses$310,921$3,057$0$313,978
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Afcu Loan$250,000
Due to Afcu$69,799
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
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
2022-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Richard Furnas
Formed
1999
Legal Domicile
Ny
Voting Board Members
4
Independent Board Members
4
Employees
5
Volunteers
35

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 143,104. Management and general expenses 0. Fundraising expenses 0. Total expenses 143,104.

FORM 990, PART XI, LINE 9:

BAD DEBT -502.

FORM 990, PART XII, LINE 2C:

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

Raw XML Appendix399 raw XML fields

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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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt4PROSPERITY - PARK ER FUND
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt06
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt14
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt22
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt310
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt41
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 143,104. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 143,104.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4BAD DEBT -502.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE 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 XI, LINE 9:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XII, LINE 2C:
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0ALTERNATIVES FEDERAL CREDIT UNION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(14)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0FEDERAL CREDIT UNION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0125 N FULTON STREET
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0ITHACA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd014850
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd01
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd01
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0250000
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt1139093
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0FMV
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1FMV
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0ALTERNATIVES FEDERAL CREDIT UNION
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1ALTERNATIVES FEDERAL CREDIT UNION
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0D
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt1P
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0884485
IRS990/TotalAssetsEOYAmt01101639
IRS990/TotalAssetsGrp/BOYAmt0884485
IRS990/TotalAssetsGrp/EOYAmt01101639
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0211642
IRS990/TotalEmployeeCnt05
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt03057
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0310921
IRS990/TotalFunctionalExpensesGrp/TotalAmt0313978
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt054547
IRS990/TotalLiabilitiesEOYAmt0374049
IRS990/TotalLiabilitiesGrp/BOYAmt054547
IRS990/TotalLiabilitiesGrp/EOYAmt0374049
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0829938
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0727590
IRS990/TotalOtherCompensationAmt00
IRS990/TotalOtherProgSrvcGrantAmt023800
IRS990/TotalProgramServiceExpensesAmt0310921
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0490
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0212132
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt035
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0884485
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01101639
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0125 NORTH FULTON STREET
IRS990/USAddress/CityNm0ITHACA
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd014850
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0WWW.ALTERNATIVES.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0RICHARD FURNAS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum06072163422
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-11-15
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/ReturnTs02022-11-15T08:44:23-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0RICHARD
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0FURNAS
ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

Document Assets

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Filings

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
2021Detailed filing. Detailed filing data is available for this year.$1.10$0.37$0.73$0.21$0.31$0.10
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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