Civic Intelligence

Venture Michigan Fund

990 • Fiscal year 2019 • EIN 20-1443645

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 15, 2020

Organization Profilewww.venturemichigan.com
767 Fifth Avenue 14th FloorNew York, NY 10153

(646) 362-3700

Siviq Scores

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

Liabilities / Assets

84th percentile

0.78x

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

2019 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2019

Liabilities / Revenue

98th percentile

14.68x

Higher debt load relative to revenue than 98% of similar nonprofits.

2019 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2019

Net Margin

6th percentile

-17%

Higher net margin than 6% of similar nonprofits.

2019 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2019

Top Officer Pay

2nd percentile

$0

Higher top officer pay than 2% of similar nonprofits.

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

2019 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2019

Asset Growth

9th percentile

-4.6%

Faster asset growth than 9% of similar nonprofits.

2019 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2018 to 2019

Revenue Growth

95th percentile

53%

Faster revenue growth than 95% of similar nonprofits.

2019 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets84th percentile

Assets

Down

$343,074,204

Down $16,660,303 (-4.6%) from 2018

Net Assets

Down

$76,455,913

Down $16,474,705 (-18%) from 2018

Liabilities

Down

$266,618,291

Down $185,598 (-0.1%) from 2018

Revenue And Expenses
Liabilities / Revenue98th percentileNet Margin6th percentile

Revenue

Up

$18,161,323

Up $6,312,143 (+53%) from 2018

Expenses

Down

$21,246,592

Down $1,062,971 (-4.8%) from 2018

Net Income

Up

-$3,085,269

Up $7,375,114 (+71%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth9th percentile

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

$600M$400M$200M$0-$200MAssets 2010: $159,691,032Liabilities 2010: $203,629,349Net Assets 2010: -$43,938,3172010Assets 2011: $182,412,898Liabilities 2011: $246,477,474Net Assets 2011: -$64,064,5762011Assets 2012: $264,209,270Liabilities 2012: $335,555,323Net Assets 2012: -$71,346,0532012Assets 2013: $263,380,122Liabilities 2013: $360,575,551Net Assets 2013: -$97,195,4292013Assets 2014: $281,044,287Liabilities 2014: $403,646,015Net Assets 2014: -$122,601,7282014Assets 2015: $352,566,089Liabilities 2015: $349,776,221Net Assets 2015: $2,789,8682015Assets 2016: $364,722,390Liabilities 2016: $371,611,986Net Assets 2016: -$6,889,5962016Assets 2017: $356,235,761Liabilities 2017: $282,811,223Net Assets 2017: $73,424,5382017Assets 2018: $359,734,507Liabilities 2018: $266,803,889Net Assets 2018: $92,930,6182018Assets 2019: $343,074,204Liabilities 2019: $266,618,291Net Assets 2019: $76,455,9132019Assets 2020: $423,885,343Liabilities 2020: $210,242,481Net Assets 2020: $213,642,8622020Assets 2021: $479,759,499Liabilities 2021: $73,663,491Net Assets 2021: $406,096,0082021Assets 2022: $339,849,528Liabilities 2022: $10,914,646Net Assets 2022: $328,934,8822022Assets 2023: $254,515,626Liabilities 2023: $5,769,503Net Assets 2023: $248,746,1232023Assets 2024: $255,676,228Liabilities 2024: $4,209,438Net Assets 2024: $251,466,7902024

Highlighted filing

2019

Assets$343,074,204
Liabilities$266,618,291
Net Assets$76,455,913
Open 2019 Filing

Operations Trend

Revenue Growth95th percentile

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

$150M$100M$50M$0-$50MExpenses 2010: $14,797,2272010Expenses 2011: $20,976,9032011Expenses 2012: $25,234,2852012Revenue 2013: $3,752,031Expenses 2013: $28,079,501Net Income 2013: -$24,327,4702013Revenue 2014: -$1,135,273Expenses 2014: $39,147,447Net Income 2014: -$40,282,7202014Revenue 2015: $5,969,421Expenses 2015: $33,501,972Net Income 2015: -$27,532,5512015Revenue 2016: $8,546,299Expenses 2016: $29,168,105Net Income 2016: -$20,621,8062016Revenue 2017: $12,627,265Expenses 2017: $22,477,824Net Income 2017: -$9,850,5592017Revenue 2018: $11,849,180Expenses 2018: $22,309,563Net Income 2018: -$10,460,3832018Revenue 2019: $18,161,323Expenses 2019: $21,246,592Net Income 2019: -$3,085,2692019Revenue 2020: $78,875,591Expenses 2020: $18,403,439Net Income 2020: $60,472,1522020Revenue 2021: $100,484,897Expenses 2021: $18,483,171Net Income 2021: $82,001,7262021Revenue 2022: $26,346,078Expenses 2022: $2,196,899Net Income 2022: $24,149,1792022Revenue 2023: $11,679,447Expenses 2023: $1,499,758Net Income 2023: $10,179,6892023Revenue 2024: $30,782,882Expenses 2024: $1,790,345Net Income 2024: $28,992,5372024

Highlighted filing

2019

Revenue$18,161,323
Expenses$21,246,592
Net Income-$3,085,269
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 15, 2020
Return Version
2019v5.1
Gross Receipts
$18,161,323
Mission and Program Overview

Mission

SEE SCHEDULE O

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Program Related$281,722,899$260,674,329▼ $21,048,570
Savings and Temporary Cash Investments$66,303,645$70,708,046▲ $4,404,401
Cash and Non-Interest-Bearing Accounts$0$0→ $0
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Land, Buildings, and Equipment, Net$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$359,734,507$343,074,204▼ $16,660,303
Other Assets Total$11,707,963$11,691,829▼ $16,134
Liabilities
Mortgage Notes Payable Secured by Investment Property$250,000,000$250,000,000→ $0
Other Liabilities$16,708,978$16,498,860▼ $210,118
Accounts Payable and Accrued Expenses$94,911$119,431▲ $24,520
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$266,803,889$266,618,291▼ $185,598
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$92,930,618$76,455,913▼ $16,474,705
Net Assets With Donor Restrictions$0$0→ $0
Total Net Assets Fund Balance$92,930,618$76,455,913▼ $16,474,705
Total Liabilities and Net Assets / Fund Balance$359,734,507$343,074,204▼ $16,660,303

Asset Categories

AssetBook ValueDepreciationBasis
Investment Program Related Org$204,995,300--
Compensation and Service Providers
Top Officer Pay2nd percentile

Board Members and Trustees

NameTitle
No CompensationN/a
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$2,079,334
Other Revenue
$16,081,989
Change in Net Assets
$-3,085,269

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,530,611
Revenue Not Reported on Financial Statements
$16,630,712
Revenue Not Reported on Form 990
$438,861
Other Revenue Adjustments
$16,630,712
Total Revenue per Audited Statements
$1,969,472
Total Revenue per Form 990
$18,161,323
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$21,246,592
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$18,400,909--$18,400,909
Fees for Services Legal-$115,747$0$115,747
Depreciation Depletion-$21,000-$21,000
Other Expenses$10--$10
Total Functional Expenses$21,109,845$136,747$0$21,246,592

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$21,246,592
Expenses per Audited Statements$18,444,177
Total Expenses per Audited Statements$18,444,177
Expenses Not Reported on Financial Statements$2,802,415
Other Expense Adjustments$2,802,415
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Swap Contract$11,691,828
Accrued Interest Payable on No$4,275,087
Minority Interest$531,945
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
No
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 8B:

“The organization did not hold any meetings that would require a committee to act on behalf of the governing body.”

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

“Form 990 Review Process: KPMG LLP prepared form 990. It was then submitted to the organization's key officers for review and signature before the form was filed.”

Form 990, Part VI, Section C, Line 19:

“The organization's governing documents and financial statements are available to the public upon request only.”

Filing and Contact Details

Filer

Filer Name
Venture Michigan Fund
EIN
20-1443645
In Care Of
% JOHN EVANS
Phone
6463623700
Address
767 Fifth Avenue 14th Floor, NEW YORK, NY 10153

Signing Officer

Name
John Evans
Title
Authorized Signatory
Phone
6463623700
Signed
2020-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John Evans
Formed
2004
Legal Domicile
Mi
Voting Board Members
7
Independent Board Members
7
Employees
0

Preparer

Firm
Kpmg Llp
Address
150 John F Kennedy Parkway, Short Hills, NJ 07078
Preparer
danielle d'aloia
Phone
9734679650
Supplemental Narrative

Additional Explanations

Form 990, Part I, Line 1, Description of organization mission:

“To raise capital and invest that capital in venture capital firms with the intent to benefit the state of Michigan's early or seed stage businesses.”

Form 990, Part III, Line 1, Description of organization mission:

“The fund was formed as a non-profit, non-stock corporation for the purpose of qualifying as a michigan early stage investment corporation within the meaning of act no. 296 of the michigan public acts of 2003. The fund was organized to raise capital and invest that capital in venture capital funds with the goal of generating a strong internal rate of return and to promote the economic health of the state Michigan by assisting in the creation of jobs, new businesses, and new industries within the state through the investment in early and seed stage businesses.”

Financial Statement Notes

Part XI, Line 2D - Other Adjustments:

“Revenue from Limited Partnerships:$ 2,802,414”

Part XI, Line 4B - Other Adjustments:

“Revenue from Limited Partnerships: $ 10,859,093”

Part XII, Line 4B - Other Adjustments:

“Expenses from Pass-throughs: 16,630,713”

Schedule D Parts XI and XII

“Amount is the revenue from investments in limited partnerships reported on k-1s received from limited partnerships.”

Part XI, Line 2D:

“Amount represents deductions from investments in limited partnerships reported on K-1s received from limited partnerships.”

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IRS990/PYInvestmentIncomeAmt02861133
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt022309563
IRS990/PYOtherRevenueAmt08988047
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0-10460383
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt022309563
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt011849180
IRS990/RcvblFromDisqualifiedPrsnGrp/BOYAmt00
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/BOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-3085269
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0true
IRS990/RentalIncomeOrLossGrp/PersonalAmt00
IRS990/RentalIncomeOrLossGrp/RealAmt00
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0true
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/RelatedOrExemptFuncIncomeAmt02493
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt04986
IRS990/RoyaltiesRevenueGrp/UnrelatedBusinessRevenueAmt02493
IRS990/SavingsAndTempCashInvstGrp/BOYAmt066303645
IRS990/SavingsAndTempCashInvstGrp/EOYAmt070708046
IRS990ScheduleA/GovernmentalUnitInd0X
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt02802415
IRS990ScheduleD/ExpensesSubtotalAmt018444177
IRS990ScheduleD/FederalIncomeTaxLiabilityAmt00
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt055679029
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt1204995300
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0INVESTMENT IN VMF I, LP
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc1INVESTMENT IN VMF II, LP
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0F
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd1F
IRS990ScheduleD/NetUnrealizedGainsInvstAmt0438861
IRS990ScheduleD/OtherExpensesNotIncludedAmt02802415
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt04275087
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt111691828
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2531945
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0ACCRUED INTEREST PAYABLE ON NO
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1SWAP CONTRACT
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2MINORITY INTEREST
IRS990ScheduleD/OtherRevenuesNotIncludedAmt016630712
IRS990ScheduleD/RevenueNotReportedAmt0438861
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt016630712
IRS990ScheduleD/RevenueSubtotalAmt01530611
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Revenue from Limited Partnerships:$ 2,802,414
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1Revenue from Limited Partnerships: $ 10,859,093
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2Expenses from Pass-throughs: 16,630,713
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt3Amount is the revenue from investments in limited partnerships reported on k-1s received from limited partnerships.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt4Amount represents deductions from investments in limited partnerships reported on K-1s received from limited partnerships.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part XI, Line 2D - Other Adjustments:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Part XI, Line 4B - Other Adjustments:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2Part XII, Line 4B - Other Adjustments:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc3Schedule D Parts XI and XII
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc4Part XI, Line 2D:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc5Part XI, Line 4B:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc6Part XII, Line 4B:
IRS990ScheduleD/TotalBookValueProgramRltdAmt0260674329
IRS990ScheduleD/TotalExpensesPerForm990Amt021246592
IRS990ScheduleD/TotalLiabilityAmt016498860
IRS990ScheduleD/TotalRevenuePerForm990Amt018161323
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01969472
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt018444177
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0To raise capital and invest that capital in venture capital firms with the intent to benefit the state of Michigan's early or seed stage businesses.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The fund was formed as a non-profit, non-stock corporation for the purpose of qualifying as a michigan early stage investment corporation within the meaning of act no. 296 of the michigan public acts of 2003. The fund was organized to raise capital and invest that capital in venture capital funds with the goal of generating a strong internal rate of return and to promote the economic health of the state Michigan by assisting in the creation of jobs, new businesses, and new industries within the state through the investment in early and seed stage businesses.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The organization did not hold any meetings that would require a committee to act on behalf of the governing body.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Form 990 Review Process: KPMG LLP prepared form 990. It was then submitted to the organization's key officers for review and signature before the form was filed.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The organization's governing documents and financial statements are available to the public upon request only.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part I, Line 1, Description of organization mission:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part III, Line 1, Description of organization mission:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section A, Line 8B:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, Line 11B:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section C, Line 19:
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0true
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0true
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingEntityName/BusinessNameLine1Txt0NA
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingEntityName/BusinessNameLine1Txt1NA
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd0false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd1false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/EIN0205038329
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/EIN1274498166
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/LegalDomicileStateCd0MI
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/LegalDomicileStateCd1MI
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/OwnershipPct00.99800
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/OwnershipPct10.99800
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/PrimaryActivitiesTxt0INVESTMENT
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/PrimaryActivitiesTxt1INVESTMENT
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/RelatedOrganizationName/BusinessNameLine1Txt0VENTURE MICHIGAN FUND I LP
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/RelatedOrganizationName/BusinessNameLine1Txt1VENTURE MICHIGAN FUND II LP
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/UBICodeVAmt0-15667
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/UBICodeVAmt1-7253
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/AddressLine1Txt0767 Fifth Avenue 14th Floor
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/AddressLine1Txt1767 Fifth Avenue 14th Floor
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/CityNm0NEW YORK
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/CityNm1NEW YORK
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/StateAbbreviationCd0NY
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/StateAbbreviationCd1NY
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/ZIPCd010153
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/ZIPCd110153
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0true
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0189580
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt1675250
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt28875410
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt3317472
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt47107769
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt553203
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt620351942
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0K-1 Received
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1K-1 Received
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt2K-1 Received
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt3K-1 Received
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt4K-1 Received
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt5K-1 Received
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt6K-1 Received
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0VENTURE MICHIGAN FUND I LP
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1VENTURE MICHIGAN FUND I LP
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt2Venture Michigan Fund I LP
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt3VENTURE MICHIGAN FUND II LP
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt4VENTURE MICHIGAN FUND II LP
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt5VENTURE MICHIGAN FUND II LP
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt6VENTURE MICHIGAN FUND II LP
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0A
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt1B
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt2S
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt3A
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt4B
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt5F
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt6S
IRS990ScheduleR/TransferFromOtherOrgInd0true
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0CA
IRS990/StatesWhereCopyOfReturnIsFldCd1MI
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondLiabilitiesGrp/BOYAmt00
IRS990/TaxExemptBondLiabilitiesGrp/EOYAmt00
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0359734507
IRS990/TotalAssetsEOYAmt0343074204
IRS990/TotalAssetsGrp/BOYAmt0359734507
IRS990/TotalAssetsGrp/EOYAmt0343074204
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$343,074,204
Liabilities
$266,618,291
Net assets
$76,455,913
Revenue
$18,161,323
Expenses
$21,246,592
Net income
-$3,085,269
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$256$4.21$251$30.8$1.79$29.0
2023Detailed filing. Detailed filing data is available for this year.$255$5.77$249$11.7$1.50$10.2
2022Detailed filing. Detailed filing data is available for this year.$340$10.9$329$26.3$2.20$24.1
2021Detailed filing. Detailed filing data is available for this year.$480$73.7$406$100$18.5$82.0
2020Detailed filing. Detailed filing data is available for this year.$424$210$214$78.9$18.4$60.5
2019Detailed filing. Detailed filing data is available for this year.$343$267$76.5$18.2$21.2$3.09
2018Detailed filing. Detailed filing data is available for this year.$360$267$92.9$11.8$22.3$10.5
2017Detailed filing. Detailed filing data is available for this year.$356$283$73.4$12.6$22.5$9.85
2016Detailed filing. Detailed filing data is available for this year.$365$372$6.89$8.55$29.2$20.6
2015Summary only. Only limited summary data is available for this year.$353$350$2.79$5.97$33.5$27.5
2014Detailed filing. Detailed filing data is available for this year.$281$404$123$1.14$39.1$40.3
2013Summary only. Only limited summary data is available for this year.$263$361$97.2$3.75$28.1$24.3
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$264$336$71.3$25.2
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$182$246$64.1$21.0
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$160$204$43.9$14.8